SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarter ended JUNE 30, 1998               Commission File No. 0-27480

                           LAHAINA ACQUISITIONS, INC.
             (Exact name of registrant as specified in its charter)

           COLORADO                                         84-1325695
  (State of Incorporation)                     (IRS Employer Identification No.)

         5459 S. IRIS STREET, LITTLETON, COLORADO              80123
         (Address of principal executive office)             (Zip Code)

       Registrant's telephone number, including area code: (303) 986-6923

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days.

Yes   X           No

The number of shares outstanding of registrant's Common Stock, no par value per
share, as of June 30, 1998 was 996,500.


<PAGE>



                                     PART I

ITEM 1.           FINANCIAL STATEMENTS









                            LAHAINA ACQUISITIONS, INC

                            INTERIM OPERATING RESULTS
                                   (unaudited)


<PAGE>



                           LAHAINA ACQUISITIONS, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                         FOR THE NINE    FOR THE NINE     FOR THE THREE    FOR THE THREE    FROM INCEPTION
                                         MONTHS ENDED    MONTHS ENDED     MONTHS ENDED     MONTHS ENDED    (APRIL 1989) TO
                                        JUNE 30, 1998   JUNE 30, 1997    JUNE 30, 1998    JUNE 30, 1997     JUNE 30, 1998
                                        --------------  --------------   --------------   --------------    -------------

<S>                                    <C>              <C>              <C>              <C>              <C>             
REVENUE:                               $              - $             -  $             -  $             -  $              -
                                       ---------------- ---------------  ---------------  ---------------  ----------------


OPERATING EXPENSE:
        Administrative Costs                     41,678           1,780            3,594                -            48,871
                                       ---------------- ---------------  ---------------  ---------------  ----------------

        Total Operating Expenses                 41,678           1,780            3,594                -            48,871
                                       ---------------- ---------------  ---------------  ---------------  ----------------


Net Loss                               $       (41,678) $       (1,780)  $       (3,594)  $                $       (48,871)
                                       ================ ===============  ===============  =--------------  ================


Net Loss Per Share                     $              0 $             0  $             0  $             -  $              0
                                       ---------------- ---------------  ---------------   --------------  ----------------


Weighted Average Shares Outstanding             996,500         996,500          996,500          996,500           996,500
                                       ================ ===============  ===============  ===============  ================
</TABLE>



    The accompanying notes are an integral part of this financial statement.
<PAGE>



                           LAHAINA ACQUISITIONS, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                                  BALANCE SHEET

<TABLE>
<CAPTION>
                                                                             JUNE 30, 1998       SEPTEMBER 30, 1997
                                                                             -------------       ------------------

                                    ASSETS

<S>                                                                        <C>                   <C>              
Cash                                                                       $         1,500       $               -
Acquisition Cost Reimbursement Receivable-Current                                        -                  47,985
Organization costs - Non-current                                                       600                     600
                                                                           ---------------       -----------------

         Total Assets                                                      $         2,100       $          48,585
                                                                           ===============       =================



                      LIABILITIES AND STOCKHOLDER'S EQUITY

LIABILITIES
     Accounts Payable                                                      $         6,686       $          47,985
                                                                           ---------------       -----------------

         Total Liabilities - Current                                       $         6,686       $          47,985
                                                                           ---------------       -----------------

STOCKHOLDERS' EQUITY
     Common Stock (No Par Value, Authorized 800,000,000
     Shares, Issued and Outstanding 996,500 Shares)                                  7,793                   7,793


     Preferred Stock (No Par Value, Authorized 10,000,000
     Shares, None Issued)                                                                -                       -

     Paid in Capital                                                                36,492                       -

Deficit Accumulated During the development Stage                                   (48,871)                 (7,193)
                                                                           ----------------      ------------------

     Total Stockholders' Equity                                                     (4,586)                    600
                                                                           ----------------      -----------------

     Total Liabilities and Stockholders' Equity                            $         2,100       $          48,585
                                                                           ===============       =================
</TABLE>



    The accompanying notes are an integral part of this financial statement.
<PAGE>



                           LAHAINA ACQUISITIONS, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                         FOR THE NINE          FOR THE NINE         FROM INCEPTION
                                                         MONTHS ENDED          MONTHS ENDED         (APRIL 1989) TO
                                                         JUNE 30, 1998         JUNE 30, 1997         JUNE 30, 1998
                                                       -----------------     ----------------      ----------------
<S>                                                  <C>                   <C>                   <C>            
CASH FLOWS FROM OPERATING ACTIVITIES
     Net Loss                                        $     (41,678)        $      (1,780)        $      (48,871)
     Adjustments to reconcile net loss to net cash  
         provided by operating activities:

         Capital contributions expenses incurred on 
             behalf of Company by Shareholders                                     1,780
         Organizational Costs - Non-Current                                                                (600)
         Accounts Payable                                    6,686                     -                  6,686
                                                     -------------         -------------         --------------

Net Cash Used in Operating Activities                      (34,992)                    -                (42,785)
                                                     --------------        -------------         ---------------

CASH FLOWS FROM INVESTING ACTIVITIES
     Proceeds received from investor                        36,492                     -                 44,285
                                                     -------------         -------------         --------------

Net Cash Provided by Investing Activities                   36,492                     -                 44,285
                                                     -------------         -------------         --------------

Net Increase in Cash                                         1,500                     -                  1,500

Cash at Beginning of Period                                      -                     -                      -
                                                     -------------         -------------         --------------

Cash at End of Period                                $       1,500         $           -         $        1,500
                                                     =============         =============         ==============
</TABLE>



    The accompanying notes are an integral part of this financial statement.
<PAGE>



                           LAHAINA ACQUISITIONS, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS

NOTE 1 - GENERAL

The financial information included herein is unaudited; however, such
information reflects all adjustments (consisting solely of normal recurring
adjustments), which are, in the opinion of management, necessary for a fair
statement of the Company's financial position.

The accompanying unaudited interim financial statements have been prepared
pursuant to the rules and regulations of the Securities and Exchange Commission
for reporting on Form 10-Q. Pursuant to such rules and regulations, certain
information and footnote disclosures normally included in financial statements
prepared in accordance with generally accepted accounting principles have been
condensed or omitted.

The information contained in this Form 10-Q should be read in conjunction with
the Notes to the Financial Statements appearing in the Company's Annual Report
ended September 30, 1997.

NOTE 2 - SHAREHOLDERS' EQUITY

The Company is authorized to issue 800,000,000 shares of common stock having no
per share par value. As of December 31, 1997, the Company has issued 996,500
common shares.

In May 1991, in connection with a private placement, the Company issued 993,000
Class A Warrants and 993,000 Class B Warrants each to purchase one share of
common stock at $1.00 and $1.50, respectively. These Warrants expire May 10,
1999 and may be redeemed by the Company at $.0001 per share upon 30 days'
written notice. In July 1997, the Company sent redemption notices to all warrant
holders and, accordingly, the warrants expired.

The Company has authorized the issuance of 10,000,000 shares of Preferred Stock
with no per share par value. There has been no issuance of Preferred Stock.

NOTE 3 - CAPITAL CONTRIBUTIONS

Certain Officers and Shareholders have paid for expenses on behalf of the
Company. Those amounts have been treated as Capital Contributions and have been
credited to common stock.


<PAGE>



ITEM 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULT OF OPERATIONS.

RESULTS OF OPERATIONS - INCEPTION (APRIL 5, 1989) THROUGH JUNE 30, 1998.

     The Registrant is considered to be in the development stage as defined in
Statement of Financial Accounting Standards No. 7. There have been no operations
since incorporation.

     For the nine months ended June 30, 1998, the Company incurred additional
legal and other costs of $41,678. During the nine months, the majority
shareholder contributed additional capital of $36,492.

                        LIQUIDITY AND CAPITAL RESOURCES.

     The Registrant has $1,500 in cash as of June 30, 1998.

ITEM 3.    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     Not applicable


<PAGE>



                                     PART II

ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K

         (a)  Exhibits

              27  Financial Data Schedule

         (b)  Report on Form 8-K

     No reports on Form 8-K were filed during the quarter ended June 30, 1998.


<PAGE>



                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                               LAHAINA ACQUISITIONS, INC.
                               (the "Registrant")

Date: October 19, 1998         By:   /S/ GRAHAM COOPER
     -----------------            ----------------------------------------------
                               Graham Cooper, President and Officer
                               Responsible for Financial Affairs of
                               Lahaina Acquisitions, Inc.


<PAGE>



                                  EXHIBIT INDEX

EXHIBIT
NO.                                  DESCRIPTION
-------                              -----------

   27                  Financial Data Schedule