U.S. SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549
                                   FORM 10-QSB

(Mark One)
                [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                     FOR THE QUARTER ENDED DECEMBER 31, 1996

              [ ] 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 0-18270

                           DAWCIN INTERNATIONAL CORP.
           (Exact name of the registrant as specified in its charter)

          NEW YORK                                       11-2857523
(State or other jurisdiction of                       (I.R.S. Employer
 incorporation or organization)                       Identification No.)

                              100 Garden City Plaza
                           Garden City, New York 11530
                    (Address of principal executive offices)

                                  (516)739-8800
                         (Registrant's telephone number)

                           Command Credit Corporation
              (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 February 7, 1997:  2,388,254.  This amount reflects a Two Hundred
(200) to One (1)  reverse  stock  split  effective  at the open of  business  on
October 17, 1996.

Transitional Small Business Disclosure Format (check one):
                       Yes                           No X
                          ---                          ---


<PAGE>



PART I: Financial Information
ITEM 1:  Financial Statements


                   DAWCIN INTERNATIONAL CORP. AND SUBSIDIARIES
                  CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

                                     ASSETS
                                   (UNAUDITED)



                                                                    December 31
                                                                        1996
                                                                   ------------
Current Assets:
  Cash and Cash Equivalents (Note 2)                               $     10,866
  Accounts Receivable, net (Note 3)                                     107,527
  Notes Receivable (Note 4)                                             610,000
  Prepaid Expenses                                                        6,479
                                                                   ------------
  Total Current Assets                                                  734,872
                                                                   ------------

Fixed Assets:
  Equipment                                                             678,461
  Furniture & Fixtures                                                  166,975
  Leasehold Improvements                                                225,003
                                                                   ------------
                                                                      1,070,439
  Less:  Accumulated Depreciation
            and Amortization                                            755,490
                                                                   ------------
  Total Net Fixed Assets                                                314,949
                                                                   ------------

Other Assets:
  Long Term Notes Receivable (Note 4)                                   650,000
  Organization Expenses                                                   4,062
  Computer Software                                                     129,291
  Goodwill                                                              261,704
  Security Deposits                                                      38,701
                                                                   ------------
  Total Other Assets                                                  1,083,758
                                                                   ------------
Total Assets                                                       $  2,133,579
                                                                   ============











           The accompanying notes are an integral part of this report.

                                       F-1

<PAGE>



                   DAWCIN INTERNATIONAL CORP. AND SUBSIDIARIES
                  CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

                       LIABILITIES & SHAREHOLDERS' EQUITY
                                   (UNAUDITED)



                                                                    December 31
                                                                        1996
                                                                   ------------
Current Liabilities:
  Accounts Payable & Accrued Expenses (Note 5)                     $  1,083,506
  Leases Payable                                                         20,141
  Payroll Taxes Payable                                                 430,196
  Notes Payable (Note 6)                                                226,397
  Salaries Payable (Note 7)                                             211,250
                                                                   ------------
  Total Current Liabilities                                           1,971,490
                                                                   ------------

Long Term Liabilities:
  Leases Payable                                                         25,259
  Notes Payable (Note 6)                                                627,834
                                                                   ------------
  Total Long Term Liabilities                                           653,093
                                                                   ------------
Total Liabilities                                                     2,624,583
                                                                   ------------

Shareholders' Equity (Note 8):
  Common Stock - Authorized 150 Mill. Shares,
  $.0001 Par Value, 2,388,254 Issued and
  2,382,896 Outstanding at 12/96                                            239
  Paid-In-Capital in Excess of Par Value                             44,939,477
  Paid-In-Capital from Treasury Stock                                   946,434
  Paid-In-Capital from Warrants Exercised                               902,389
  Translation Adjustment                                                  4,852
  Retained (Deficit)                                                (46,249,976)
                                                                   ------------
  Total Shareholders' Equity                                            543,415
Less: Treasury Shares at Cost                                        (1,034,419)
                                                                   ------------
Net Shareholders' Equity                                               (491,004)
                                                                   ------------
Total Liabilities and Shareholders' Equity                         $  2,133,579
                                                                   ============







           The accompanying notes are an integral part of this report.

                                       F-2


<PAGE>


                  DAWCIN INTERNATIONAL CORP. AND SUBSIDIARIES
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
<CAPTION>

                                                        FOR THE THREE MONTHS ENDED      FOR THE SIX MONTHS ENDED
                                                        DECEMBER 31     DECEMBER 31     DECEMBER 31     DECEMBER 31
                                                            1996            1995            1996            1995
                                                        ------------    ------------    ------------    ------------ 
<S>                                                     <C>             <C>             <C>             <C>         
Revenues:
  Operating Revenue                                     $    276,994    $    228,614    $    573,285    $    370,674
                                                        ------------    ------------    ------------    ------------ 
  Total Revenue                                         $    276,994    $    228,614    $    573,285    $    370,674

Costs Related to Revenue                                     185,848         136,569         341,559         243,422
                                                        ------------    ------------    ------------    ------------ 
Gross Income                                            $     91,146    $     92,045    $    231,726    $    127,252
                                                        ------------    ------------    ------------    ------------ 

Operating Expenses:
  Selling and Administrative Expenses                        732,380         803,226       1,874,449       1,405,201
 Cost of Shares for Services Rendered                      1,069,225       5,884,290       2,348,218       7,398,017
 (Gain) Loss on Investment                                       -0-             -0-             -0-       1,901,492
 (Gain) Loss on Sale of Assets                               (77,335)            -0-        (102,335)            -0-
  Bad Debt Expense                                               -0-          53,500             -0-         671,813
  Taxes                                                       22,737          52,932          51,787          76,902
                                                        ------------    ------------    ------------    ------------ 
  Total Operating Expenses                              $  1,747,007    $  6,793,948    $  4,172,119    $ 11,453,425
                                                        ------------    ------------    ------------    ------------ 
Net (Loss) from Operations                                (1,655,861)     (6,701,903)     (3,940,393)    (11,326,173)
                                                        ------------    ------------    ------------    ------------ 

Non-Operating & Non-Recurring:
 Gain ( Loss) on Sale of Marketable Equity Securities            358        (187,500)          1,358        (193,801)
                                                        ------------    ------------    ------------    ------------ 
Net (Loss)                                              ($ 1,655,503)   ($ 6,889,403)   ($ 3,939,035)   ($11,519,974)
                                                        ============    ============    ============    ============ 

Net (Loss) per Outstanding
  Common Share (Note 9)                                       ($0.27)       ($409.00)*        ($1.25)     ($1,093.00)*
                                                        ============    ============    ============    ============ 
</TABLE>


* NOTE: This amount has been restated to reflect a One Hundred Fifty (150) to
        One (1) reverse stock split effective | October 27, 1995, and a Two 
        Hundred (200) to One (1) reverse stock split effective October 17, 1996.




           The accompanying notes are an integral part of this report.

                                       F-3


<PAGE>



                   DAWCIN INTERNATIONAL CORP. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOW
                      FOR THE SIX MONTHS ENDED DECEMBER 31
                                   (UNAUDITED)


                                                      1996            1995
                                                  ------------    ------------ 
Cash Flow from Operations:
Net (Loss)                                        ($ 3,939,035)   ($11,519,974)
Adjustments to Reconcile Net Loss
  to Net Cash Provided by Operations
   Depreciation & Amortization                          11,767        (261,323)
   (Gain)/Loss on Sale of Marketable
     Equity Securities                                   1,000         193,801
   Foreign Currency Translation Adjustment                (676)        (14,034)
(Increase) Decrease in:
   Prepaid Expenses                                      3,434        (310,072)
   Accounts Receivable                                 140,938         240,990
   Notes Receivable                                  1,225,000     (10,000,000)
   Interest Receivable                                 600,000             -0-
   Organization Expenses                                (3,385)         29,685
   Computer Software                                    (9,299)            891
   Security Deposits                                       -0-          (5,000)
Increase (Decrease) in:
   Accounts Payable                                    298,989        (796,082)
   Leases Payable                                       (6,609)        (58,163)
   Payroll Taxes Payable                               190,734        (198,782)
   Notes Payable                                       486,935         575,028
   Salaries Payable                                     52,306          25,416
                                                  ------------    ------------ 
Net Cash Used (Provided) by Operations                (947,901)    (22,097,619)
                                                  ------------    ------------ 

Cash Flow from Financing Activities:
   Proceeds from Issuance of Common Stock            1,007,385      18,264,367
   Purchase of Treasury Stock                           (4,872)        (30,000)
   Retained Earnings Liquidated Subsidiaries            33,115       1,215,564
                                                  ------------    ------------ 
Net Cash Flow from Financing Activities              1,035,628      19,449,931
                                                  ------------    ------------ 

Cash Flow from Investing Activities:
   Capital Expenditures Paid in Cash                    50,081         404,766
   Bank/Data Center Acquisition                            -0-         260,993
   Goodwill                                           (185,737)      1,938,030
   Proceeds from Sale of Marketable 
     Equity Securities                                  13,500             -0-
                                                  ------------    ------------ 
Net Cash (Used) by Investing Activities               (122,156)      2,603,789
                                                  ------------    ------------ 

Net Increase in Cash and Cash Equivalents              (34,429)        (43,899)
Cash and Cash Equivalents Beginning of Period           45,295         228,098
                                                  ------------    ------------ 
Cash and Cash Equivalents End of Period           $     10,866    $    184,199
                                                  ============    ============ 






     The accompanying notes are an integral part of this report.

                                       F-4


<PAGE>



                   DAWCIN INTERNATIONAL CORP. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 1996
                                   (UNAUDITED)

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A) Method of Accounting:  Dawcin International Corp. utilizes the accrual method
of accounting in recording all transactions.

B)  Consolidation:  Command Credit  Acceptance  Corporation  ("Acceptance")  was
incorporated  in Florida on September 9, 1985.  On October 12, 1988,  Acceptance
was acquired by Video Plan International  Corp.  ("VPI"), a New York corporation
with virtually no business activity since 1980. Simultaneously,  VPI changed its
name to Command Credit Corporation ("Command"). In October 1996, Command changed
its name to Dawcin  International  Corp.  ("Dawcin").  Results of  operations of
Dawcin and its subsidiaries are reported on a consolidated basis.

C) Foreign Currency:  Currency fluctuations  resulting from the consolidation of
Foreign  Offices  are  accumulated  as  prescribed  by  translation  of  foreign
operations under FASB 52. The resulting  translation  gains and losses are shown
as a component of Stockholders' Equity.

D) Depreciation &  Amortization:  Depreciation of fixed assets is being computed
on a straight line basis over a period of five years.  Organization  expense and
Goodwill are being  amortized  over five and thirty year periods,  respectively.
Leasehold  improvements  are amortized over the shorter of the life of the lease
or the estimated useful life.

E) Revenue Recognition: All revenue is recognized when earned.

F) Income  taxes:  The Company  recognizes  taxes on income as the  liability is
incurred. To date, the Company has accumulated net operating losses which can be
used to offset future earnings.

NOTE 2: CASH AND CASH EQUIVALENTS

Cash and cash equivalents  represents  amounts available for current  operations
held in cash, checking accounts and interest bearing accounts.

NOTE 3: ACCOUNTS RECEIVABLE

Accounts  receivable  consists primarily of trade receivables in connection with
the Company's credit card division.  There is no allowance for doubtful accounts
because all receivables are deemed collectible.

NOTE 4: NOTES RECEIVABLE

In October 1995, the Company signed a definitive agreement with Jetlease Finance
Corp., a Florida corporation ("Jetlease"), under which the Company acquired 100%
of the common  stock of  Fidelity  Holding  Corp.  ("Fidelity")  a  wholly-owned
subsidiary  of Jetlease  (the  "Jetlease  Transaction").  Jetlease is  primarily
engaged in the leasing of small, medium and large aircraft to



                                       2
<PAGE>



corporations and high net worth individuals.  The Jetlease  Transaction provided
for  Jetlease to issue two  promissory  notes to Fidelity  totaling  ten million
dollars ($10,000,000) in the aggregate,  at a 12% per annum interest rate. These
notes were interest only for twenty-four  (24) months with the entire  principal
due at the end of twenty-four (24) months. One note was collateralized by a 1974
Boeing 727-200F and the other note was collateralized by a 1971 Boeing 727-100.

These notes are currently in default.  The Company has not received any interest
payments on the two  promissory  notes.  The Company  notified  Jetlease and the
Federal Aviation  Administration  ("FAA") of the default and commenced an action
to foreclose on its  collateral,  the  aircraft.  The Company also  commenced an
action against Jetlease, its principals and others, for damages. The Company had
accrued  interest  income  on  these  notes  in the  amount  of  $600,000  which
represented  accrued  interest  for the period  January 1, 1996 through June 30,
1996.  However,  Management  now believes the  probability  of  collecting  this
accrued  interest  is  unfavorable  and  therefore,  has  written  off  interest
receivable in the amount of $600,000.

On April 21, 1996, an involuntary  petition under Chapter 7 (liquidation) of the
United States  Bankruptcy  Code was filed against  Jetlease in the United States
Bankruptcy Court for the Southern District of Florida. Jetlease consented to the
entry of an order for  relief,  to convert  the case to a case under  Chapter 11
(reorganization) and the appointment of a trustee.  Subsequent to June 30, 1996,
the Company was informed by its legal counsel that the collateral securing these
promissory notes had been  misrepresented  to the Company.  The Company had been
supplied with fraudulent appraisals.  Based upon this information,  in September
1996,  the  Company  wrote  down  the  value  of the  two  promissory  notes  to
$1,875,000,  their  current  market  value.  This  amount was  determined  by an
appraisal of the aircraft  ordered by the Judge of the United States  Bankruptcy
Court, for the Southern District of Florida.

During the quarter, a settlement with regard to these bankruptcy proceedings was
achieved. However, this settlement is still subject to the courts approval. As a
result of this  settlement the Company has written off its note  receivable from
Jetlease in the amount of $1,875,000.  Further details will be provided upon the
courts approval of this case.

Long term notes  receivable  consists  of an amount due from the  principals  of
Prime Source Managed Total Care, Inc.  ("Prime").  In November 1994, the Company
acquired 88% of Prime,  a medical  billing  service that also  provided  managed
health care. The Company later discovered substantial problems with Prime and in
June 1995,  the Company  entered  into a Demand for  Arbitration  with Prime.  A
settlement  of this  case  has been  achieved  and as a result  the  Company  is
recording a note  receivable  in the amount of $650,000  from the  principals of
Prime.

In addition,  the Company has a note  receivable  in the amount of $360,000 as a
result of a guaranteed  investment and a note  receivable for computer  services
provided to a third party.

NOTE 5: ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts  payable  consists of  miscellaneous  trade payables and amounts due to
vendors.  Accrued  expenses  consist  primarily of expenses  incurred during the
period but invoiced after December 31, 1996.



                                       3
<PAGE>



NOTE 6: NOTES PAYABLE

Current notes payable consists of an amount due to a third party lender, payable
with  interest  at  prime  plus 2% with a  maturity  date of May 1997 as well as
amounts  due  to the  principals  of  Berwyn  Holdings,  Inc.,  a  wholly  owned
subsidiary of the Company.  Long term notes payable  consists of amounts lent to
the Company by William G. Lucas, the Chairman of Dawcin.  The Company will repay
Mr. Lucas' loans at such time when there is sufficient  revenue  generated  from
the implementation of the Company's programs. In addition, the Company has notes
payable as a result of convertible  debentures.  These debentures are repayable,
based on their agreement, either through the issuance of stock or cash.

NOTE 7: SALARIES PAYABLE

Salaries  payable consists of amounts owed to Mr. Lucas, the Chairman of Dawcin.
For the past two years,  Mr. Lucas is owed  approximately  twenty (20) months of
salary.  He will continue not to draw a salary until such time when  significant
revenues are generated from the  implementation of the Company's  programs.  Mr.
Lucas has also forgiven a significant portion of his salary in prior years.

NOTE 8: SHAREHOLDERS' EQUITY

At December  31, 1996 the Company  had  outstanding  2,388,254  shares of common
stock.   Management   believes  that  the  Company's  common  stock  is  greatly
undervalued,  and  therefore,  has from time to time purchased its securities on
the open market.  To date, the Company has reacquired 5,358  (1,071,413  reverse
split 200 to 1 on October 17,  1996) shares of common  stock.  These shares were
accounted  for at cost to the issuer and at December 31,  1996,  all such shares
are held in the treasury.

NOTE 9: NET LOSS PER SHARE

Net loss per share was computed by dividing the net loss by the weighted average
number of shares of common  stock  outstanding  during the period.  The weighted
average  number of common  shares  outstanding  during  the three  months  ended
December  31, 1996 and 1995 was  6,130,909  and 16,842,  respectively  (the 1995
amount has been  restated  to reflect a 150 to 1 reverse  stock split at October
1995 and a 200 to 1 reverse stock split at October 1996).  The weighted  average
number of common  shares  outstanding  during the six months ended  December 31,
1996 and 1995 was 3,141,563 and 10,543,  respectively  (the 1995 amount has been
restated to reflect a 150 to 1 reverse  stock split at October 1995 and a 200 to
1 reverse stock split at October 1996)

NOTE 10: MERGERS AND ACQUISITIONS

On October 17 1996,  Dawcin acquired 97% of First Equities Corp., a full service
mortgage  banking  company  in a stock  for  stock  exchange.  Subsequently,  on
December 10, 1996,  the  transaction  was reversed  through a  combination  of a
spin-off  and a surrender of Dawcin  common stock by certain key First  Equities
shareholders. This transaction had no material effect on the Company's financial
statements.  However,  shareholders of Dawcin  benefited by their subsequent and
continuous ownership of stock in First Equities.



                                       4
<PAGE>



NOTE 11: SUBSEQUENT EVENTS

On January 20, 1996, the Company's Board of Directors  approved the sale of 100%
of Berwyn Holdings,  Inc.,  ("Berwyn") a wholly owned  subsidiary of Dawcin.  On
January 24, 1996, the Company sold 100% of the issued and  outstanding  stock of
Berwyn to Century Financial Services, Inc. ("Century"). As consideration for the
sale of stock, Century agrees to pay to the Company a sum equal to fifty percent
(50%) of the net profits of Berwyn from all currently  existing  accounts for as
long as such accounts  continue to contract with Berwyn or any successor  entity
to Berwyn.  As  additional  compensation,  Century will pay to the Company a sum
equal to fifty  percent (50%) of the net profits of Berwyn from each new account
originating from an existing client contract.  Said compensation  shall continue
for as long as the  originating  account  and/or new  account  continues  in its
contract.  In addition,  it is agreed to by Century that  $668,320 is due to the
Company  by  Berwyn  and  Century,  as the new  owner of  Berwyn,  shall  assume
responsibility of this debt. Such debt is evidenced by a note to Dawcin executed
by  Berwyn.  In  addition,  the  Company  and  Century  agree  that  as  further
consideration for this transaction,  Century shall give the Company an agreement
whereby the Company will act as an independent  new account agent for Berwyn and
the  Company  will  be  compensated   for  new  business   generated.   No  cash
consideration was exchanged in connection with this transaction,  however,  this
transaction  will create a substantial  reduction of liabilities  (approximately
$900,000)  as well as an  increase  in assets  (approximately  $370,000),  which
Management  believes  will have a  positive  impact in the  Company's  financial
statements.  The terms and  conditions of this  transaction  can be found in the
Company's 8-K filing on February 7, 1997.



                                       5
<PAGE>




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

The following  discussion and analysis  should be read in  conjunction  with the
Company's financial statements and related notes thereto.

Results of Operations

Three and Six Months Ended  December 31, 1996 Compared to Three and Six Months
Ended December 31, 1995

Revenues.  Revenues  for the three and six months  ended  December 31, 1996 were
$276,994  and  $573,285,  respectively,   compared  to  $228,614  and  $370,674,
respectively, for the three and six months ended December 31, 1995. The increase
in  revenues  is  primarily  due to the  improved  operations  of the  Company's
subsidiaries,  specifically,  the addition of Berwyn's  contracts  with European
American Bank (EAB) and Fleet Bank and the Company's  acquisition in May 1996 of
Integrated  Systems  International,  Inc. (ISI).  ISI is a high-tech MIS company
with  expertise in  implementing  specific  network  solutions  and  integrating
diverse network systems and applications.

     Selling and Administrative  Expenses.  Selling and Administrative  expenses
for the  three  and six  months  ended  December  31,  1996  were  $732,380  and
$1,874,449,  respectively, compared to $803,226 and $1,405,201, respectively, at
December 31, 1995. The decrease for the three month period is due to a reduction
of costs in the current  quarter which relate to the previous  quarter.  Had the
first  quarter  expense been properly  reported  (reduced),  the second  quarter
expenses  would be  virtually  unchanged  from the same  period  last year.  The
increase  for  the  six  month  period  is  due  primarily  to  an  increase  of
professional  fees,  specifically,  legal fees incurred in  connection  with the
Company's arbitration proceeding against Prime and litigation with regard to the
Jetlease  transaction.  In  addition,  salary  expenses  increased  due  to  the
acquisition of ISI.

Cost Of Shares  Issued  for  Services  Rendered.  The Cost of Shares  Issued for
Services  Rendered  for the three and six months  ended  December  31, 1996 were
$1,069,225 and $2,348,218, respectively, compared to $5,884,290 and $ 7,398,017,
respectively,  for the three and six  months  ended  December  31,  1995.  These
decreases are a result of the  Company's  efforts to reduce the amount of shares
of its Common Stock issued to various consultants and professional servicers for
consulting, marketing, public relations and research and development.

     Loss on Investment and Bad-Debt Expense. There was no Loss on Investment or
Bad Debt Expense for the three and six months ended  December 31, 1996.  Loss on
Investment  for the three and six months  ended  December  31, 1995 was $-0- and
$1,901,492,  respectively.  Bad-debt  expense for the three and six months ended
December 31, 1995 was $53,500 and $671,813,  respectively.  These  decreases are
due to the  Company  having no Loss on  Investment  or Bad Debt  Expense  in the
current  periods  compared to the  write-off in  September  1995 of Prime Source
Managed Total Care, Inc. a medical  billing  service that also provided  managed
health care,  located in Salt Lake City,  Utah and the write off of two inactive
subsidiaries, BanServ, Inc. (BanServ) and Command Credit Limited (Limited) which
were written-off during 1995.



                                       6
<PAGE>



     Net Losses.  For the three and six months  ended  December  31,  1996,  the
Company had net losses of $1,655,503 and $3,939,035,  respectively,  compared to
$6,889,403  and  $11,519,974,  respectively,  for the three and six months ended
December  31, 1995.  The decrease in losses is due  primarily to the decrease in
loss on investment and bad-debt expense,  described above, as well as a decrease
in the cost of shares issued for services

Liquidity and Capital Resources

     As of December 31,  1996,  the Company  held cash and cash  equivalents  of
approximately  $11,000.  The Company had total  assets of  $2,133,579  and total
liabilities of $2,624,583.

     In the past, the Company has experienced cash flow difficulties as a result
of the  substantial  effort and expense  incurred to  implement  its credit card
programs.  The  Company  generates  its cash flow  almost  exclusively  from its
operating  activities.  When the  Company  experiences  cash flow  difficulties,
William G. Lucas,  Chairman of Dawcin, from time to time lends the Company funds
at  virtually  no  interest.  Mr. Lucas has also not drawn a salary for the past
several months and is currently not drawing a salary. In addition, in past years
Mr. Lucas has forgiven a significant portion of his salary.

     The Company currently has no material commitments for capital expenditures.
The  Company  continues  to explore new means to  increase  its capital  base to
finance current operations and to implement its business plan.



                                       7
<PAGE>



Part II- Other Information

ITEM 1.      Legal Proceedings

In September,  1994,  Command Credit Corporation  ("Command"),  William G. Lucas
("Lucas"), President of Command and Philip Leone ("Leone"), (a former officer of
Command), consented to the entry of a cease and desist order. The Securities and
Exchange  Commission  found that Command,  Lucas and Leone violated Section 5 of
the  Securities  Act.  Command   purported  to  rely  upon  the  exemption  from
registration  provided by the Securities Act Section 4(1) and upon Regulation S,
the Commission's safe harbor for overseas sales of securities.  However, Section
4(1)  was  not  available  because  Command,  the  issuer,  was a  party  to the
distribution  and Regulation S was inapplicable  because the entire  transaction
occurred wholly within the United States.  Accordingly, it was ordered, pursuant
to Section 8A of the Securities Act, that Command,  Lucas and Leone  permanently
cease and desist from committing or causing any violation or future violation of
Section 5 of the Securities Act.

ITEM 2.      Changes in Securities

On October 4, 1996,  the Company's  Board of Directors  approved a reverse stock
split of its common shares,  pursuant to which every Two Hundred (200) shares of
the  Company's  issued and  outstanding  common  stock was  converted to One (1)
share.  This reverse split became  effective the open of business on October 17,
1996. In addition, shareholders of record as of the close of business on October
16, 1996 will be granted a stock option on a one for one basis equal to the post
reversed split shares. A registration  filing for these shares will be submitted
to the SEC  within  120 days from the date the  option is  granted.  In order to
qualify,  shareholders must have held their existing shares for thirty (30) days
from  October 16,  1996 at which time  shareholders  of record  will  receive an
option to purchase shares in Dawcin on a one for one basis at a discounted price
of fifty cents ($0.50) per share.

The Company's  outstanding warrants did not reverse split with the common stock,
however,  the  terms of the  warrants  have been  amended.  The new terms of the
warrants  are as  follows:  for every two  hundred  warrants a  shareholder  may
purchase one common share for three  dollars and fifty cents  ($3.50) per share.
With respect to uneven  amounts,  a shareholder  can pay the  fractional  amount
equal to one full share.

ITEM 5.      Other Information

On October 8, 1996, the Company's Board of Directors approved a name change from
Command Credit Corporation to Dawcin International Corp.

On October 7, 1996, the Company's Board of Directors accepted the resignation of
William G. Lucas as  President of Dawcin and  approved  the  appointment  of Mr.
Edward  Capuano as President and Chief  Operating  Officer of Dawcin.  Mr. Lucas
still holds the title of Chairman and Chief Executive Officer of the Company. On
December 20, 1996 the Company's  Board of Directors  accepted the resignation of
Mr.  Edward  Capuano as President and Chief  Operating  Officer and approved the
appointment of Mr. William G. Lucas as President and Chief Operating Officer.



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<PAGE>



Item 6.     Exhibits and Reports on Form 8-K

      (a)   EXHIBITS

            (27)  Financial Data Schedule incorporated herein.


      (b)   REPORTS ON FORM 8-K

            8-K dated February 7, 1997 to report:

            Item 2. Acquisition or Disposition of Assets







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<PAGE>




                                   SIGNATURES


Pursuant to the requirements of Section 13 or 15 (d) of the Securities  Exchange
Act of 1934,  the  Registrant  has duly  caused  this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

Dated: February 13, 1997                    DAWCIN INTERNATIONAL CORP.
                                            (Registrant)


                                            By:/s/ William G. Lucas
                                               ------------------------------
                                               William G. Lucas, Chairman and
                                               Chief Financial Officer



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