U. S. Securities and Exchange Commission
                           Washington, D. C. 20549

                                 FORM 10-QSB

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

     For  the  quarterly  period  ended  September  30,  1996

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

     For  the  transition  period  from  _______________  to  _______________

                         Commission File No. 0-12240

                        NOTE BANKERS OF AMERICA, INC.
                (Name of Small Business Issuer in its Charter)

             TEXAS                                       84-0882076
(State or Other Jurisdiction of                  (I.R.S. Employer I.D. No.)
 incorporation or organization)


                        770 S. Post Oak Lane Suite 690
                             Houston, Texas 77056
                   (Address of Principal Executive Offices)

                  Issuer's Telephone Number: (713) 840-0230

Indicate  by  check  mark  whether  the  Registrant  (1) has filed all reports
required to be filed by Sections 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.

(1)Yes          /X/          No  /  /           (2)     Yes /X/     No     / /

              APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                 PROCEEDINGS DURING THE PRECEDING FIVE YEARS

          Check  whether  the  registrant  filed  all  documents  and  reports
required  to be filed by Section 12, 13 or 15(d) of the Exchange Act after the
distribution  of  securities  under  a  plan  confirmed  by  court.

          Yes  /X/  No  /  /

                     APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate  the number of shares outstanding of each of the Registrant's classes
of  common  stock,  as  of  the  latest  practicable  date:

                              November 15, 1996

                       Common Voting Stock - 22,430,000


                        PART I - FINANCIAL INFORMATION

Item  1.Financial  Statements.

          The  Company,  essentially dormant prior to the subject quarter, was
engaged  in  a  reorganization  during  the  subject quarter consisting of the
acquisition  of  Private  Mortgage Bankers, Inc.  ("PMB") and its wholly owned
subsidiaries.    See  the  Form 8-K Current Report dated September 3, 1996 and
Form  8-K/A  Amendment  No.  1  dated  November 4, 1996 filed on behalf of the
Company.  As a result of the required accounting relating to this transaction,
a  delay in finalizing financial statements has ensued.  The Company will file
financial  statements  by  amendment  at  the  earliest  possible  date.

Item  2.Management's  Discussion  and  Analysis  or  Plan  of  Operation.

          To  be  filed  by  amendment.

                         PART II - OTHER INFORMATION

Item  1.  Legal  Proceedings.

          None;  not  applicable.

Item  2.Changes  in  Securities.

          None;  not  applicable.

Item  3.Defaults  Upon  Senior  Securities.

          None;  not  applicable.

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

          A  special  meeting of shareholders of Note Bankers of America, Inc.
f/k/a  General  Genetics  Corporation  was held at 770 S. Post Oak Lane, Suite
690,  Houston,  Texas  77056  on  August 30, 1996.  The following matters were
voted  upon:

     1.Proposal  to  increase  authorized capital from 5,000,000 Common Shares
par  value  $.001  to  500,000,000  Common  Shares  par  value  $.001:

For:       Against:  Abstain:  Not Voted:
3,825,541     2,200       600      17,295

2.       Proposal to approve a change in the authorized capital of the company
by  adding  (a) 100 million Preferred Class A shares, (b) 50 million Preferred
Class  B  shares,  and  (c)  150  million  warrants  to purchase common stock.

For:       Against:  Abstain:  Not Voted:
2,728,318     2,400     1,600   1,113,318

3.       Proposal to approve the purchase of 100% of the outstanding shares in
Private  Mortgage  Bankers, Inc. in exchange for 406,260,000 pre-reverse split
shares  of  General  Genetics  Corporation.

For:       Against:  Abstain:  Not Voted:
2,728,718     1,700     1,900   1,113,318

     4.          Proposal  to  approve a 20 old for 1 new share consolidation.

For:       Against:  Abstain:  Not Voted:
3,795,166     2,600       600      47,270

     5.Election  of  Directors:

                       For:     Withheld:
Allen E. Myers       3,843,236      2,400
E. Donald DeYoung    3,843,236      2,400
Louis J. Blenderman  3,843,236      2,400

     6.          Proposal  to  appoint  Hein + Associates LLP Certified Public
Accountants  and  Consultants  as  the  auditor  for  the  enduing year and to
authorize  the  Directors  to  fix  the  remuneration  of  the  auditor.

For:       Against:  Abstain:
3,843,036     1,100     1,500

7.     Proposal to approve a name change for the Company from General Genetics
Corporation  to  Note  Bankers  of  America,  Inc.

For:       Against:  Abstain:
3,841,636     2,000     2,000

     8.Proposal  to  merge  General Genetics Corporation into its wholly owned
subsidiary  Note  Bankers  of  America,  Inc.  for the purpose of changing the
company's  name  and  changing  its  state  of  domicile.

For:       Against:  Abstain:
3,841,636     2,000     2,000

Item  5.Other  Information.

          On  September  15, 1996, Note Bankers of America, Inc. f/k/a General
Genetics  Corporation  (the  "Registrant")  consummated  an  exchange  (the
"Exchange")  of  securities  with  Private  Mortgage  Bankers,  Inc.   ("PMB")
pursuant to which control of the Registrant shifted to Allen E.  Meyers and E.
Donald  DeYoung,  the principal shareholders (the "Principal Shareholders") of
PMB.    20, 313,000 shares of the Registrant's "unregistered" and "restricted"
common  stock was issued to the holders of stock interests in PMB. Such shares
were  issued  in  exchange  for  common  stock  of  PMB  held by the Principal
Shareholders  and  representing an aggregate of 100% of the outstanding common
stock of PMB at the time of Exchange.  1,529,000 of these shares were conveyed
to  certain  consultants  retained  by  the  PMB shareholders to assist in the
Exchange.    Messrs.    Meyers  and  DeYoung each received 9,392,000 shares of
common  stock  of  the  Registrant  pursuant  to  the  Exchange,  representing
approximately  42.6% each of the outstanding stock of the registrant following
the  Exchange.

          Pursuant to the terms of the Exchange, Messrs.  Allen E.  Meyers, E.
Donald DeYoung and Louis Blenderman were elected to the board of directors of
the  Registrant,  each  of  whom  were  nominees  designated  by  PMB.

          Upon completion of the Exchange NBA had a total of 21,790,000 of its
$.001  par  value  per  share  common stock issued and outstanding, of which a
total  of  18,784,000  shares  or  86.1%  are held by the PMB Shareholders and
2,906,000  were  held  by  non-PMB  shareholders.

          PMB  is a Texas corporation in the business of purchasing discounted
real  estate  mortgage  notes.  PMB has a wholly owned subsidiary, Life Today,
Inc.   ("LTI"), a Texas corporation, that is a multi-state registered viatical
settlement  broker  in  the  purchase  of  the death benefit of life insurance
policies  from  terminally  ill  individuals  ("viatical  settlements").

          In  connection  with  the  completion  of the Exchange, at a special
meeting of GGC shareholders held on August 30, 1996, the shareholders approved
the  Exchange;  approved and ratified the increase of authorized common shares
to  500,000,000  shares;  approved  creation  of  150,000,000  "blank  check"
preferred  shares;  approved  the  1  for  20 reverse split of its outstanding
common  stock;  and authorized the merger of GGC into Note Bankers of America,
Inc.,  a  wholly  owned  Texas  subsidiary,  for  the  purpose of changing the
company's name and changing its state of domicile to Texas.  At a meeting held
on  August  30,  1996  immediately  after  the  shareholder meeting, the newly
elected  board  of  directors approved the issuance of all shares necessary to
effect  the  Exchange  and approved the 1 for 20 reverse stock split effective
the opening of business September 25, 1996.  The merger of GGC into its wholly
owned  subsidiary,  Note  Bankers of America, Inc., was effected September 24,
1996  with  the  simultaneous  filing  of  certificates of merger in Texas and
Delaware.   Pursuant to the Merger, each post-reverse split common share o GGC
is  to be exchanged for one common share of NBA, so that the capitalization of
NBA  is  the  same  as  post-reverse split GGC.  As of the opening of business
September 25, 1996 NBA traded in the over-the-counter market and was quoted in
the  National  Association  of  Securities  Dealers  Inter-dealer  Quotation
("NASDAQ")  system giving effect to the 1 for 20 reverse stock split under the
name  Note  Bankers  of America, Inc., NASDAQ symbol "NBAI", and under the new
cusip  number  669  75L  105.

          Giving effect to the consummation of the Exchange, the reverse stock
split  of  GGC, the merger of GGC into NBA, and subsequent private placements,
there  are  currently  22,430,000  shares  outstanding  in  NBA.

Item  6.Exhibits  and  Reports  on  Form  8-K.

          (a)Exhibits.

               27 Financial  Data  Sheet  (1)

                    (1)To  be  filed  by  amendment.

          (b)Reports  on  Form  8-K.

               The  Company  filed  one  report on Form 8-K during the quarter
ended  September  30, 1996 and an amendment designated Amendment No. 1 to that
report.    The  original  report, dated September 3, 1996, and Amendment No. 1
thereto  dated  November 4, 1996, provided the details of the Company's change
in control and consummation of the share exchange with PMB and matters related
thereto.    These  reports  are  incorporated  by  reference  herein.


                                  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  thereunto  duly  authorized.

                              NOTE  BANKERS  OF  AMERICA,  INC.



Date:  November  26,  1996  By  /S/  E.  Donald  DeYoung
       -------------------      ------------------------------
                                E.  Donald  DeYoung,  Director
                                President



Date:  November  26,  1996  By  /S/  Allen  E.  Myers
       -------------------      ------------------------------
                                Allen  E.  Myers,  Director
                                CEO



Date:  November  26,  1996  By  /S/  Louis  J.  Blenderman
       -------------------      ------------------------------
                                Louis  J.  Blenderman,  Director