UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

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

                  For the quarterly period ended March 31, 2000

                                       OR

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

                  For the transition period from ____________ to ____________

                  Commission file number: 0-18271


                            MAGELLAN TECHNOLOGY, INC.
                           ---------------------------
             (Exact name of registrant as specified in its charter)

             Utah                                           87-0467614
            ------                                          ----------
(State or other jurisdiction of                          (I.R.S. Employer
incorporation or organization)                           Identification No.)


                12411 South 265 West, Suite F, Draper, Utah 84020
               ---------------------------------------------------
                    (Address of principal executive offices)
                                   (Zip Code)

                                 (801) 495-2211
                                 ---------------
              (Registrant's telephone number, including area code)


                -------------------------------------------------
              (Former Name, former address and former fiscal year,
                         if changed since last report)

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 for 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 _____

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:

Number outstanding at March 31, 2000:       27,474,997 shares
Class:                                      Common Stock, $.0002 par value



<PAGE>


                                   FORM 10-QSB

                       Financial Statements and Schedules
                            Magellan Technology, Inc.

                      For the Quarter Ended March 31, 2000

The  following  financial  statements  and schedules of the  registrant  and its
consolidated subsidiaries are submitted herewith:


                         PART I - FINANCIAL INFORMATION
                        --------------------------------
Item 1.  Financial Statements

                  Condensed consolidated balance sheet for
                  March 31, 2000 and year-end for
                  December 31, 1999                                            3

                  Condensed consolidated statement of operations
                  for the three months ended March 31, 2000 and
                  1999                                                         4

                  Condensed statement of cash flows for the three
                  months ended March 31, 2000 and 1999                         5

                  Notes to condensed consolidated financial statements         7

Item 2.           Management's Discussion and Analysis of Financial
                  Condition and Results of Operations                          9


                           PART II - OTHER INFORMATION
                          -----------------------------
Item 1.  Legal Proceedings                                                    11

Item 2.  Changes in Securities                                                11

Item 3.  Defaults upon Senior Securities                                      11

Item 4.  Submission of Matters to a Vote of Security Holders                  11

Item 5.  Other information                                                    11

Item 6(a)         Exhibits                                                    11

Item 6(b)         Reports on Form 8-K                                         11

<PAGE>



                            MAGELLAN TECHNOLOGY, INC.
                                AND SUBSIDIARIES

              Notes to Condensed Consolidated Financial Statements

(1)      The unaudited condensed  consolidated  financial statements include the
         accounts of Magellan Technology, Inc. ("Magellan") and its wholly owned
         subsidiaries,  BioMeridian  Corporation  [formerly  known as ProHealth,
         Inc. and prior to that known as Satellite  Image  Systems,  Inc.  (SIS,
         Inc.) and SIS Jamaica, LTD (SIS Jamaica)],  BioMeridian  International,
         Inc.  ("BioMeridian")  (formerly  known  as  BioSource,  Inc.)  and BTI
         Acquisition  Corp ("BTI").  On February 16, 1999, the Company  acquired
         certain assets known as the P.I.C.E.  technology  from an individual in
         exchange for 250,000  shares of common  stock.  In  September  1999 the
         Company   completed  the   acquisition   of   Biological   Technologies
         International,   Inc.  (BTI)  which  the  Company  acquired   effective
         September 17, 1999 through its wholly-owned  subsidiary BTI Acquisition
         Corp. The acquisition of BTI included the issuance of 3,024,024  shares
         of  Magellan  common  stock  for all of the  outstanding  shares of BTI
         common  stock.  The  acquisition  was  accounted  for as a "pooling  of
         interests" transaction.

(2)      The unaudited condensed  consolidated  financial statements include all
         adjustments,  consisting of normal recurring  items,  which are, in the
         opinion  of  management,  necessary  to present  fairly  the  financial
         position  of the  company  as of  March  31,  2000 and the  results  of
         operations  for the three months ended March 31, 2000 and 1999 and cash
         flows for the three months  ended March 31, 2000 and 1999.  The results
         of  operations  for the  three  months  ended  March  31,  2000 are not
         necessarily  indicative  of  quarterly  results to be expected  for the
         remainder of the year.

(3)      The  amount  of the loss per  share  is based on the  weighted  average
         number of shares outstanding at March 31, 2000 and 1999, respectively.

(4)      In October  1996,  the Company  completed  the  acquisition  of SkyHook
         Technologies,  Inc., a Utah Corporation  ("SkyHook")  organized in 1995
         and engaged in development of proprietary, cargo-management systems for
         use with helicopters. SkyHook's initial cargo-management product is the
         SkyHook   External  Cargo   Management   System  ("ECMS")  which  is  a
         computer-controlled,  multiple-hook cargo carrying device that attaches
         to a long line beneath the helicopter. The acquisition was accomplished
         with the exchange of 4,874,936  shares of Magellan Common Stock for all
         issued and  outstanding  shares of SkyHook  Common Stock.  SkyHook then
         became a wholly owned subsidiary of the Company.

         Effective  December 31, 1999, the Company completed the disposition and
         sale of SkyHook to Envirofoam  Technologies,  Inc. (EFT).  The sale was
         completed  in exchange  for  $3,000,000.  Of this sale  amount,  a note
         payable was issued by EFT in the amount of $2,500,000  and a management
         fee for  services  rendered in the amount of  $500,000  will be paid to
         Magellan.  On the closing date of this sale  transaction,  $500,000 was
         paid and received against the note payable and the remaining $2,000,000
         will be paid in four  consecutive  payments of  $500,000  over the next

                                       7
<PAGE>

         four months,  with the first payment due on or before January 31, 2000.
         On March 9, 2000, the terms of repayment of the note were amended.  The
         January 31, 2000 payment was received in the amount of $500,000 and the
         remaining  balance will now be received over 3 monthly  payments in the
         amounts of $100,000,  $500,000 and  $900,000,  respectively,  beginning
         March 31, 2000. The management fee of $500,000  remains due and payable
         on or before May 31,  2000.  On May 5, 2000,  the terms of repayment of
         the note were again amended. The March 31, 2000 payment was received in
         the amount of  $100,000  and a payment in the  amount of  $300,000  was
         received on April 30,  2000  leaving a total  remaining  balance due of
         $1,600,000. This balance due will be converted to EFT preferred stock.

(5)      On May 19, 1998 the company entered into a $3,000,000 revolving line of
         credit  agreement.  Obligations  under  prior  separate  line of credit
         agreements  for $750,000 and $745,000  were retired with  proceeds from
         the new revolving  line of credit.  During the three months ended March
         31, 1999 the Company made no additional borrowings under this revolving
         line of  credit.  This  revolving  line of  credit  is  secured  by the
         Company's  inventory and receivables and by the personal  guarantees of
         the  Company's  Chief  Executive  Officer,  a  Director,  and  a  major
         shareholder. On December 15, 1999, this line of credit was converted to
         a term loan  whereby  5  monthly  payments  in the  amount of  $500,000
         commencing  December 31, 1999 and concluding on April 30, 2000 followed
         by a final  payment  of  $496,158  on May 31,  2000  will be  made.  On
         February 29, 2000, a  modification  agreement  was entered into whereby
         the monthly  payments  to be  received  pursuant to this term loan were
         changed.  Under the new agreement,  monthly  payments in the amounts of
         $100,000, 100,000, $500,000 and $1,296,158 commencing February 29, 2000
         would replace the monthly payments under the previous agreement.  As of
         March 31,  2000 the Company had an  outstanding  balance of  $1,796,158
         under this revolving line of credit.

(6)      During the three months ended March 31,  2000,  the Company  borrowed a
         net amount of $490,000 from the Company's Chief Executive  Officer,  or
         from  entities  controlled  by  this  individual,  under  two  separate
         $100,000 unsecured notes payable agreements, one $40,000 unsecured note
         payable  agreement and one $250,000  unsecured note payable  agreement.
         Each note payable bears interest at 12% and is payable upon demand.

                                       8
<PAGE>


                         PART I - FINANCIAL INFORMATION


Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

Three-month period ended March 31, 2000 compared to the three-month period ended
March 31, 1999.

Results of BioMeridian

BioMeridian  manufactures  and sells the MSA/IMAG and BEST systems to healthcare
practitioners  throughout the world. This equipment is used to assess stress and
assist  healthcare  practitioners  in the  analysis  and  treatment  of  certain
conditions.  If stress or imbalance is detected in a patient, the systems assist
the  practitioner  in recommending a course of treatment or therapy to alleviate
the stress or to restore  balance to the body's  meridian  systems.  BioMeridian
also   provides   training   classes  and  support   services  for  health  care
practitioners that utilize these systems. The MSA/IMAG system is registered with
the U.S. Food and Drug Administration as a stress-monitoring device.

Beginning  January 1, 2000, the operations of BioMeridian  and BTI were combined
and  integrated  into  BioMeridian.  For the three  months ended March 31, 2000,
BioMeridian  achieved sales  revenues of $1,793,945  which resulted in operating
income of $211,618  compared with sales revenues of $1,673,368 which resulted in
an operating  loss of $497,379  for the three  months ended March 31, 1999.  The
increase  in sales is the  result of a refined  sales  approach  and  persistent
effort to cultivate new markets.  The increase in operating  profit is primarily
due to management's focus on the healthcare industry and commitment to efficient
operations.

Results of SkyHook

As  discussed  in note 4, the  Company  completed  the  disposition  and sale of
SkyHook  to EFT  effective  December  31,  1999,  and,  therefore,  there are no
operating  results for the three months ended March 31, 2000.  However,  for the
three  months  ended  March 31,  1999,  SkyHook  incurred an  operating  loss of
$202,506.

Liquidity and Capital Resources

On May 19, 1998 the company  entered into a $3,000,000  revolving line of credit
agreement.  Obligations  under  prior  separate  line of credit  agreements  for
$750,000 and $745,000 were retired with proceeds from the new revolving  line of
credit.  During  the three  months  ended  March 31,  1999 the  Company  made no
additional  borrowings under this revolving line of credit.  This revolving line
of credit is secured  by the  Company's  inventory  and  receivables  and by the
personal guarantees of the Company's Chief Executive Officer, a Director,  and a
major shareholder.  On December 15, 1999, this line of credit was converted to a
term loan  whereby 5  monthly  payments  in the  amount of  $500,000  commencing
December 31, 1999 and  concluding  on April 30, 2000 followed by a final payment
of $496,158 on May 31, 2000 will be made.  On February 29, 2000, a  modification
agreement was entered into whereby the monthly payments to be received  pursuant
to this term loan were changed. Under the new agreement, monthly payments in the
amounts of $100,000,  100,000,  $500,000 and $1,296,158  commencing February 29,
2000 would  replace the monthly  payments  under the previous  agreement.  As of

                                       9
<PAGE>

March 31, 2000 the Company had an outstanding  balance of $1,796,158  under this
revolving line of credit.

During the three months ended March 31, 2000, the Company  borrowed a net amount
of  $490,000  from the  Company's  Chief  Executive  Officer,  or from  entities
controlled  by this  individual,  under two separate  $100,000  unsecured  notes
payable  agreements,  one  $40,000  unsecured  note  payable  agreement  and one
$250,000 unsecured note payable  agreement.  Each note payable bears interest at
12% and is payable upon demand.


                                       10
<PAGE>


                           PART II - OTHER INFORMATION

Item 1.  Legal proceedings:

         The  Company  is  party  to one  proceeding,  which  is  considered  by
         Management to be routine  litigation  incidental  to the business,  and
         which is not product related.

Item 2.  Changes in Securities:     None.

Item 3.  Defaults upon Senior Securities:   None.

Item 4.  Submission of Matters to a Vote of Security Holders: None.

Item 5.  Other information: None.

Item 6.  Exhibits and Reports on Form 8-K

         A report  on Form  8-K,  which  reported  the sale and  disposition  of
         Magellan's  wholly owned  subsidiary  SkyHook  Technologies,  Inc., was
         filed on January 14, 2000.

                                       11
<PAGE>
                         MAGELLAN TECHNOLOGY, INC.
                              AND SUBSIDIARIES

                   Condensed Consolidated Balance Sheets
<TABLE>
<CAPTION>



                                                                               Mar 31, 2000
                                   ASSETS                                      (Unaudited)
                                                                              -------------
<S>                                                                          <C>

Current Assets:
 Cash                                                                        $       32,585
 Accounts Receivable                                                              1,264,951
 Note Receivable                                                                  1,948,869
 Inventories                                                                         90,375
 Prepaid Expenses                                                                    43,058
 Other Current Assets                                                                33,267
                                                                             --------------
   Current Assets                                                                 3,413,105
                                                                             --------------

 Property and Equipment, net                                                        207,529
 Goodwill, net                                                                      547,288
 Licenses & Technology, net                                                       1,304,297
                                                                             --------------
   Total Assets                                                              $    5,472,219
                                                                             ==============
                                LIABILITIES

Current Liabilities:
 Accounts Payable                                                            $      592,266
 Accrued Personnel Costs                                                            108,501
 Accrued Liabilities                                                                279,274
 Accrued Interest Payable                                                           195,609
 Line of Credit                                                                   1,796,158
 Related Party Notes Payable                                                      1,961,048
 Notes Payable                                                                      477,604
 Current Portion of long-term debt                                                    4,234
                                                                             --------------
   Current Liabilities                                                            5,414,694

 Long-Term Debt                                                                      10,722
                                                                             --------------
   Total Liabilities                                                              5,425,416
                                                                             --------------
                            STOCKHOLDERS' EQUITY

 Common Stock, par value $.0002 per share;
   50,000,000 shares authorized, 27,474,997 shares
   issued and outstanding as of March 31, 2000.                                       5,495
 Additional Paid-in Capital                                                      14,197,225
 Accumulated Deficit                                                            (14,195,505)
 Current Earnings/(Loss)                                                             39,588
                                                                             --------------
   Total Stockholders' equity                                                        46,803
                                                                             --------------
     Total Liabilities and Stockholders' Equity                              $    5,472,219
                                                                             ==============
</TABLE>

                                       3
<PAGE>
                          MAGELLAN TECHNOLOGY, INC.
                              AND SUBSIDIARIES

               Condensed Consolidated Statements of Operations
                                 (Unaudited)
<TABLE>
<CAPTION>


                                                                                Three Months        Three Months
                                                                                   Ended              Ended
                                                                                Mar 31, 2000        Mar 31, 1999
                                                                              --------------      ---------------


<S>                                                                           <C>                 <C>
 Net Sales                                                                    $    1,793,945      $     1,689,869
 Cost of Sales                                                                       268,855              394,922
                                                                              --------------      ---------------
   Gross Margin                                                                    1,525,090            1,294,947

 Variable Selling Costs                                                              243,232              261,227
                                                                              --------------      ---------------
   Contribution Margin                                                             1,281,858            1,033,720

Operating Expenses:
 Administration & Finance                                                            344,979              362,745
 Customer Support                                                                     37,235               35,162
 Marketing                                                                            10,518
 Operations & Engineering                                                            108,689              173,721
 Sales - Domestic                                                                    263,700              832,909
 Sales - International                                                                67,326
 Training & Education                                                                128,950              148,686
 Depreciation Expense                                                                 15,274               51,269
 Amortization of Licenses & Goodwill                                                 156,073              152,557
                                                                              --------------      ---------------
    Total Operating Expenses                                                       1,132,744            1,757,049
                                                                              --------------      ---------------
 Income/(Loss) from Operations                                                       149,114             (723,329)

Other (Income)/Expense:
 Other (Income)/Expense                                                              (13,866)                (330)
 Interest Expense                                                                    123,392              184,260
                                                                              --------------      ---------------
    Net Income/(Loss) before Taxes                                                    39,588             (907,259)
 Provision for Income Taxes
                                                                              --------------      ---------------
    Net Income/(Loss)                                                         $       39,588      $      (907,259)
                                                                              ==============      ===============

    Net Income/(Loss) per share                                                         0.00                (0.04)
                                                                              ==============      ===============

 Weighted average shares outstanding                                              27,474,997           20,779,797
                                                                              ==============      ===============
</TABLE>
                                       4
<PAGE>
                     MAGELLAN TECHNOLOGY, INC.
                          AND SUBSIDIARIES

                 Condensed Consolidated Statements of Cash Flows
                            (Unaudited)
<TABLE>
<CAPTION>


                                                                       Three Months     Three Months
                                                                          Ended             Ended
                                                                      Mar 31, 2000      Mar 31, 1999
                                                                     -------------     -------------

<S>                                                                  <C>               <C>

Cash Flows from Operating Activities:
 Net Income/(Loss)                                                   $      39,588          (907,259)
 Adjustments to Reconcile Net Income/(Loss)
   to Net Cash used in Operating Activities:
     Provision for Bad Debt                                                 10,000
     Depreciation Expense                                                   15,274            51,269
     Amortization of Licenses & Goodwill                                   156,073           152,557
     Stock Compensation                                                                       15,120
 (Increase)/Decrease in:
   Accounts Receivable                                                    (375,365)         (303,911)
   Notes Receivable                                                        774,921
   Inventory                                                                45,355             3,180
   Prepaid Expenses                                                        (16,752)
   Other Current Assets                                                    (13,300)          (37,379)

 Increase/(Decrease) in:
   Accounts Payable                                                       (224,346)              156
   Accrued Personnel Costs                                                  23,115
   Accrued Liabilities                                                      27,797           123,025
   Accrued Interest Payable                                                (24,933)           78,990
                                                                     -------------     -------------
 Net Cash Used in Operating Activities                                     437,427          (824,252)
                                                                     -------------     -------------
Cash Flows from Investing Activities:
 Purchase of Property & Equipment                                          (16,965)          (21,518)
                                                                     -------------     -------------
 Net Cash Provided by/(Used in) Investing Activities                       (16,965)          (21,518)
                                                                     -------------     -------------
Cash Flows from Financing Activities:
 Issuance of Common Stock                                                                      3,700
 Proceeds from Related Party Notes                                         490,000         1,125,000
 Principal Payments on Related Party Notes                                (212,000)         (325,000)
 Principal Payments on Notes Payable                                      (245,150)           13,843
 Principal Payments on Line of Credit                                     (700,000)          (46,430)
 Proceeds from Long-term Debt                                                                 18,798
 Principal Payments on Long-term Debt                                         (926)          (47,782)
                                                                     -------------     -------------
 Net Cash Provided by/(Used in) Financing Activities:                     (668,076)          742,129
                                                                     -------------     -------------
 Net Decrease in cash                                                     (247,614)         (103,641)

 Cash, Beginning of Period                                                 280,199           217,428
                                                                     -------------     -------------
 Cash, End of Period                                                 $      32,585     $     113,787
</TABLE>


                                       5
<PAGE>
                            MAGELLAN TECHNOLOGY, INC.
                                AND SUBSIDIARIES

                 Condensed Consolidated Statements of Cash Flows
                                   (Unaudited)
<TABLE>
<CAPTION>


                                                                                       Three Months          Three Months
                                                                                           Ended                Ended
                                                                                       Mar 31, 2000          Mar 31,1999
Cash paid during the period for:                                                      -------------        -------------

 <S>                                                                                   <C>                     <C>

 Interest                                                                              $ 148,325               105,270
                                                                                       =========               =======

 Income Taxes                                                                          $       -               $     -
                                                                                       =========               =======
</TABLE>

Non-cash Financing and Investing Activities:
   During the  quarter  ended March 31,  2000,  the  company  converted  accrued
 interest  payable to a shareholder and director to a note payable in the amount
 of $98,048.

   During the quarter ended March 31, 1999, the Company converted  $1,900,000 of
 notes payable and $11,033 of accrued interest payable into common stock.

   During the quarter ended March 31, 1999, the Company issued 250,000 shares of
 common  stock in  exchange  for the rights of certain  technology  known as the
 P.I.C.E. Technology. The value of this transaction was $140,625.


                                       6
<PAGE>


SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.


                            MAGELLAN TECHNOLOGY, INC.
                            -------------------------
                                  (Registrant)




\s\William A. Fresh                                              May 15, 2000
------------------------                                      -----------------
William A. Fresh                                                    Date
Chairman and Chief Executive Officer

                                       12
<PAGE>