SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

                            FORM 10-Q
(Mark One)
/X/ Quarterly report pursuant to Section 13 or 15(d) of the
Securities Act of 1934

For the quarterly period ended March 31, 2000 or

/ / Transition report pursuant to Section 13 or 15(d) of the
Securities Act of 1934

For the transition period from               to

Commission file number 0-25105

                         LITE KING CORP.

     (Exact Name of Registrant as Specified in its Charter)

New York                                11-2996988

(State or other jurisdiction of         (I.R.S. Employer
Incorporation or Organization)            Identification Number)

          240 Clarkson Avenue  Brooklyn, New York 11226

(Address of Principal Executive Office)           (Zip Code)

                          (718)469-3132

      (Registrant's Telephone Number, Including Area Code)

     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 and Exchange Act of 1934 during the preceding twelve
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 ninety days.
Yes / X /  No /  /

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

     Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Section 12, 13 or
15(d) of the Securities Exchange Act of 1934 subsequent to the
distribution of securities under a plan confirmed by a court.
Yes /  /   No /  /

              APPLICABLE ONLY TO CORPORATE ISSUERS

     Indicate the number of shares outstanding of each of the
issuer's classes of common stock, as of the latest practicable
date.  2,484,620

                              10Q-1

















                         LITE KING CORP.

                      FINANCIAL STATEMENTS

                         MARCH 31, 2000






















                            I N D E X





                                                            Page


ACCOUNTANTS' REVIEW REPORT                                    1


BALANCE SHEETS - ASSETS                                       2


BALANCE SHEETS
  - LIABILITIES AND SHAREHOLDERS' EQUITY                      3


STATEMENTS OF SHAREHOLDERS' EQUITY                            4


STATEMENTS OF OPERATIONS                                     5-6


STATEMENTS OF CASH FLOWS                                      7


NOTES TO THE FINANCIAL STATEMENTS                            8-11










                        ACCOUNTANTS' REVIEW REPORT


To the Board of Directors and Shareholders
LITE KING CORP.
Brooklyn, New York

We have reviewed the accompanying balance sheet of LITE KING CORP. as of
March 31, 2000 and the related statement of operations, shareholders' equity
and cash flows for the nine month periods ended March 31, 2000 and 1999, in
accordance with standards established by the American Institute of Certified
Public Accountants.  All information included in these financial statements
is the representation of management of LITE KING CORP.

A review of interim financial information consists principally of obtaining
an understanding of the system for the preparation of interim financial
information, applying analytical review procedures to financial data, and
making inquiries of persons responsible for financial and accounting matters.
It is substantially less in scope than an examination in accordance with
generally accepted auditing standards, the objective of which is the
expression of an opinion regarding the financial statements taken as a whole.
Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that
should be made to the financial statements for them to be in conformity with
generally accepted accounting principles.

We have previously audited, in accordance with generally accepted auditing
standards, the balance sheet as of June 30, 1999, and the related statements
of operations, shareholders' equity and cash flows for the year then ended
(not presented herein); and in our report dated August 6, 1999, we expressed
an unqualified opinion on those financial statements.  In our opinion, the
information set forth in the accompanying balance sheet as of June 30, 1999
is fairly stated in all material respects in relation to the balance sheet
from which it has been derived.



                                        GREENBERG & COMPANY LLC

Springfield, New Jersey
April 26, 2000





                                                         Page 1 of 11

                            LITE KING CORP.
                            BALANCE SHEETS


                              A S S E T S


                                             March 31,     June 30,
                                                2000         1999
                                             (Unaudited)


CURRENT ASSETS
  Cash and Cash Equivalents                  $  836,193   $  604,463
  Accounts Receivable                            14,888      410,178
  Inventory                                     200,727      562,925
  Prepaid Expenses                                6,175       21,335
  Total Current Assets                        1,057,983    1,598,901

FIXED ASSETS, At Cost
  Machinery and Equipment                       364,011      363,113
  Leasehold Improvements                          9,787        9,787
  Less:  Accumulated Depreciation
    and Amortization                           (323,734)    (279,076)
                                                 50,064       93,824

OTHER ASSETS
  Deposits                                        6,100        6,100


TOTAL ASSETS                                 $1,114,147   $1,698,825






















See accompanying notes to the financial statements and accountants'
review report.


                                                          Page 2 of 11
                            LITE KING CORP.
                            BALANCE SHEETS


  L I A B I L I T I E S  A N D  S H A R E H O L D E R S'  E Q U I T Y


                                              March 31,    June 30,
                                                2000         1999
                                             (Unaudited)


CURRENT LIABILITIES
  Accounts Payable and Accrued Expenses      $    7,619   $  373,177
  Total Current Liabilities                       7,619      373,177

OTHER LIABILITIES
  Deferred Income Tax Liability                   2,276        2,276

TOTAL LIABILITIES                                 9,895      375,453

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY
  Common Stock ($.001 Par Value
   50,000,000 shares authorized,
   2,484,620 shares issued and
   outstanding                                    2,485        2,485
  Paid-In Capital                             1,142,795    1,142,795
  Retained Earnings (Deficit)                   (41,028)     178,092

TOTAL SHAREHOLDERS' EQUITY                    1,104,252    1,323,372


TOTAL LIABILITIES AND
  SHAREHOLDERS' EQUITY                       $1,114,147   $1,698,825

















See accompanying notes to the financial statements and accountants'
review report.


                                                       Page 3 of 11
                              LITE KING CORP.
                    STATEMENTS OF SHAREHOLDERS' EQUITY
               For The Period July 1, 1998 to March 31, 2000



                                                                  Total
                  Number      $.001                 Retained     Share-
                    of         Par        Paid-In   Earnings    holders'
                  Shares      Value       Capital   (Deficit)    Equity



BALANCES AT
JULY 1, 1998     2,484,620   $2,485     $1,142,795  $245,423   $1,390,703

Net Income
(Loss) for the
Year Ended
June 30, 1999                                        (67,331)     (67,331)

BALANCES AT
JUNE 30, 1999
(Audited)        2,484,620    2,485      1,142,795   178,092    1,323,372

Net Income (Loss)
for the nine
months ended
March 31, 2000
(Unaudited)                                         (219,120)    (219,120)


BALANCES AT
MARCH 31, 2000
(Unaudited)      2,484,620   $2,485     $1,142,795  $(41,028)  $1,104,252


















See accompanying notes to the financial statements and accountants' review
report.


                                                               Page 4 of 11
                              LITE KING CORP.
                         STATEMENTS OF OPERATIONS
                                (Unaudited)


                                                For The Three Months Ended
                                                          March 31,
                                                     2000         1999


REVENUES
  Sales - Net of returns
    and Allowances                                $  23,268    $  72,052

COST OF GOODS SOLD
  Beginning Inventory                               302,926      570,002
  Purchase and Freight                                2,609       39,606
  Direct Labor                                        8,290       23,522
                                                    313,825      633,130

  Less:  Inventory - End of Period                 (200,727)    (582,002)
  Cost of Goods Sold                                113,098       51,128

  GROSS MARGIN (LOSS)                               (89,830)      20,924

  Interest Income                                     7,911        5,642

  General and Administrative
    Expenses                                        (67,450)     (80,311)

  Depreciation Expense                              (28,658)      (9,125)

  Gain on Asset Sale                                  8,200          -0-

INCOME (LOSS) BEFORE INCOME TAXES                  (169,827)     (62,870)

  Income Tax Expense (Benefit)                          (22)     (10,374)


NET INCOME (LOSS)                                 $(169,805)   $ (52,496)


Earnings (Loss) Per Share                             $(.07)       $(.02)


Weighted Average Number of Shares
  of Common Stock Outstanding                     2,484,620    2,484,620










See accompanying notes to the financial statements and accountants' review
report.

                                                            Page 5 of 11
                              LITE KING CORP.
                         STATEMENTS OF OPERATIONS
                                (Unaudited)


                                                 For The Nine Months Ended
                                                         March 31,
                                                     2000         1999


REVENUES
  Sales - Net of Returns
    and Allowances                                $ 527,347    $1,080,031

COST OF GOODS SOLD
  Beginning Inventory                               562,925       595,194
  Purchase and Freight                               43,405       611,591
  Direct Labor                                       90,188       160,347
                                                    696,518     1,367,132

  Less:  Inventory - End of Period                 (200,727)     (582,002)
  Cost of Goods Sold                                495,791       785,130

  GROSS MARGIN                                       31,556       294,901

  Interest Income                                    19,787        15,434

  General and Administrative
    Expenses                                       (233,930)     (319,381)

  Depreciation Expense                              (44,658)      (27,443)

  Gain on Asset Sale                                  8,200           -0-

INCOME (LOSS) BEFORE INCOME TAXES                  (219,045)      (36,489)

  Income Tax Expense (Benefit)                           75       (10,374)


NET INCOME (LOSS)                                 $(219,120)   $  (26,115)


Earnings (Loss) Per Share                             $(.09)        $(.01)


Weighted Average Number of Shares
  of Common Stock Outstanding                     2,484,620     2,484,620









See accompanying notes to the financial statements and accountants' review
report.


                                                            Page 6 of 11
                              LITE KING CORP.
                         STATEMENTS OF CASH FLOWS
                                (Unaudited)

                                                  For The Nine Months Ended
                                                           March 31,
                                                      2000        1999

CASH FLOWS FROM OPERATING ACTIVITIES
  Net Income (Loss)                                 $(219,120)  $(25,831)
  Adjustment to Reconcile Net Income
    to Net Cash Provided By (Used In)
    Operating Activities:
      Depreciation and Amortization
        Expense                                        44,658     27,443
      Gain on Asset Sale                               (8,200)       -0-
      Change in Assets and Liabilities:
        Decrease (Increase) in Accounts
          Receivable                                  395,290    355,281
        Decrease (Increase) in Inventory              362,198     13,192
        Decrease (Increase) in Other
          Current Assets                               15,160    (18,997)
        Increase (Decrease) in Accounts
          Payable and Accrued Expenses               (365,558)  (249,917)

  Net Cash Provided By (Used In)
      Operating Activities                            224,428    101,171

CASH FLOWS FROM INVESTING ACTIVITIES
  Capital Expenditures                                   (898)       -0-
  Proceeds from Asset Sale                              8,200        -0-
  Net Cash Provided By Investing Activities             7,302        -0-

Net Increase (Decrease) in Cash and
  Cash Equivalents                                    231,730    101,171

Cash and Cash Equivalents at
  Beginning of Period                                 604,463    585,552

CASH AND CASH EQUIVALENTS AT
  END OF PERIOD                                     $ 836,193   $686,723

Supplemental Disclosures of Cash Flow Information:
  Cash Paid During the Year for:
      Interest                                      $     -0-   $    -0-
      Income Taxes                                  $   6,300   $    352










See accompanying notes to the financial statements and accountants' review
report.


                                                            Page 7 of 11
                            LITE KING CORP.
                   NOTES TO THE FINANCIAL STATEMENTS
                            MARCH 31, 2000
                              (Unaudited)

NOTE 1:  ORGANIZATION AND NATURE OF OPERATIONS

         Lite King Corp. (LKC) is a New York corporation.  LKC's
         principal business is the  manufacture and assembly of
         electrical wiring devices, cord sets and sockets.  LKC's
         customers consist of manufacturers of lamps, chandeliers,
         Christmas and Halloween illuminated decorations, novelties,
         point of purchase displays, signs, and other electrical
         specialties.  The customers are located throughout North
         America.

NOTE 2:  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         CASH AND CASH EQUIVALENTS

         Cash equivalents consist of highly liquid, short-term
         investments with maturities of 90 days or less.  The carrying
         amount reported in the accompanying balance sheets approximates
         fair value.

         ACCOUNTS RECEIVABLE

         Accounts receivable are judged as to collectibility by
         management and an allowance for bad debts is established as
         necessary.  As of each balance sheet date, no reserve was
         considered necessary.

         INVENTORY

         Inventories are stated at the lower of cost or market.  Cost is
         determined by the first-in, first-out method.
         Inventories consist of:

                                         3/31/00    6/30/99
               Raw Materials            $160,582   $506,633
               Work-in-Process               -0-     56,292
               Finished Goods             40,145        -0-
                                        $200,727   $562,925

          During the quarter ended March 31, 2000, the Company has
          written down its inventory by $50,000 to the estimated net
          realizable value.

          ADVERTISING

          Advertising costs are expensed as incurred.

          Advertising expense for the nine months ended March 31, 2000
          and 1999 was $475 and $2,139, respectively.



                                                    Page 8 of 11
                            LITE KING CORP.
                   NOTES TO THE FINANCIAL STATEMENTS
                            MARCH 31, 2000
                              (Continued)
                              (Unaudited)

          CONCENTRATION OF CREDIT RISK

          Financial instruments that potentially subject the Company to
          concentration of credit risk are accounts receivable.  During
          the nine months ended March 31, 2000 and 1999, three customers
          accounted for approximately 59%, 11%, 10% and 71%, 7%, 3%,
          respectively, of total revenues.  The Company performs ongoing
          credit evaluations of its customers but generally does not
          require collateral to support customer receivables.  The loss
          of any one of these customers could have a material adverse
          effect on the financial condition of the company.

          PROPERTY AND EQUIPMENT

          Renewals and betterments are capitalized; maintenance and
          repairs are expensed as incurred.

          Depreciation is calculated using the straight line method over
          the asset's estimated useful life, which generally
          approximates 10 years.

          During the quarter ended March 31, 2000, the Company wrote
          down its equipment by $18,848.  This was due to a mold that
          management deems worthless.

          REVENUE RECOGNITION POLICY

          The company recognizes sales, for both financial statement
          purposes and for tax purposes, when the products are shipped
          to customers.

          ESTIMATES IN FINANCIAL STATEMENTS

          The preparation of financial statements in conformity with
          generally accepted accounting principles requires management
          to make estimates and assumptions that affect the reported
          amounts of assets and liabilities at the date of the financial
          statements and the reported amounts of revenues and expenses
          during the reporting period.  Actual results could differ from
          those estimates.

          INCOME TAXES

          The Company accounts for income taxes in accordance with
          Statement of Financial Accounting Standards ("SFAS") No. 109,
          "Accounting for Income Taxes."  SFAS 109 has as its basic
          objective the recognition of current and deferred income tax
          assets and liabilities based upon all events that have been
          recognized in the financial statements as measured by the
          provisions of the enacted tax laws.





                                                     Page 9 of 11
                            LITE KING CORP.
                   NOTES TO THE FINANCIAL STATEMENTS
                            MARCH 31, 2000
                              (Continued)
                              (Unaudited)

          Valuation allowances are established when necessary to reduce
          deferred tax assets to the estimated amount to be realized.
          Income tax expense represents the tax payable for the current
          period and the change during the period in the deferred tax
          assets and liabilities.

          CAPITAL STOCK

          In October 1998, the Company increased its authorized common
          shares from 200 to 50,000,000, changed the par value from none
          to $.001 per share, and declared a stock split of 24,846.2 to
          one.  All related share and per share amounts have been
          retroactively restated for these changes.

          SPINOFF

          In May of 1999, Daine Industries Inc. (the former 100% owner
          of Lite King Corp.) distributed all 2,484,620 issued and
          outstanding shares of Lite King Corp. to the shareholders of
          Daine Industries Inc. on a pro rata basis.  Daine did not
          recognize any gain or loss on the distribution and also relies
          on Internal Revenue Code section 355 to treat the distribution
          as a nontaxable stock dividend to Daine's shareholders.

NOTE 3:   COMMITMENTS AND CONTINGENCIES

          The company is currently in a lease for office and factory
          space requiring minimum annual base rental payments for the
          fiscal periods shown as follows:

                         2000      $ 60,333
                         2001        62,000
                         2002         5,167
                         Total     $127,500

          In addition to annual base rental payments, the company must
          pay an annual escalation for real estate taxes.

          Rental expense under this lease for the nine months ended
          March 31, 2000 and 1999 was $43,231 and $58,784, respectively.

NOTE 4:  INCOME TAXES

         Income taxes are accrued at the statutory U.S. and state income
         tax rates.

         Income tax expense is principally due to state and local income
         taxes based upon capital.  Deferred tax liabilities relate to
         depreciation timing differences and operating loss carrybacks.
         During the year ended June 30, 1999 the Company incurred a tax
         net operating loss of approximately $55,000 which is allowed to
         be carried forward for 20 years.



                                                    Page 10 of 11
                            LITE KING CORP.
                   NOTES TO THE FINANCIAL STATEMENTS
                            MARCH 31, 2000
                              (Continued)
                              (Unaudited)

                                                 March 31,
                                              2000       1999

         Current tax expense (benefit):
           Income tax at statutory rates    $    75   $    352

         Deferred tax expense (benefit):
           Operating loss carryforward          -0-    (10,726)

         Total Tax Expense (Benefit)        $    75   $(10,374)

         The tax effect of significant temporary differences, which
         comprise the deferred tax assets and liabilities are as
         follows:
                                            March 31  June 30
                                              2000      1999
           Deferred tax asset:
             Operating loss carryback       $100,795  $28,658
             Valuation allowance            (100,795) (28,658)
             Net deferred tax asset         $    -0-  $   -0-

           Deferred tax liability:
             Depreciation                   $ 2,276   $ 2,276

         The Company has fully reserved the deferred tax asset due to
         substantial losses and a lack of operating profitability.

NOTE 5:  POSTRETIREMENT EMPLOYEE BENEFITS

         The company does not have a policy to cover employees for any
         health care or other welfare benefits that are incurred after
         employment (postretirement).  Therefore, no provision is
         required under SFAS's 106 or 112.

NOTE 6:  INTERIM FINANCIAL REPORTING

         The unaudited financial statements of the Company for the
         period July 1, 1999 to March 31, 2000 have been prepared by
         management from the books and records of the Company, and
         reflect, in the opinion of management, all adjustments
         necessary for a fair presentation of the financial position and
         operations of the Company as of the period indicated herein,
         and are of a normal recurring nature.












                                                      Page 11 of 11
                     PART 1  Financial Information

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

     Lite King Corp. ("The Registrant") was incorporated in New York on
January 4, 1990 and is currently engaged in the manufacture and assembly
of wiring devices.

     The Registrant had operated as a wholly owned subsidiary of Daine
Industries, Inc. ("Daine").  The Board of Directors of Daine determined
to spin-off Lite King Corp.'s shares of common stock to its shareholders
on a pro rata basis.  Daine owned all of the 2,484,620 outstanding
shares of the Registrant which were distributed to its shareholders on
the basis of one share of the Registrant for each 100 shares of Daine
held.  Fractional shares were rounded up or down.  Shares were
distributed in May 1999 to shareholders of record on November 30, 1998.

     Management of Daine and the Registrant believe the two companies as
separate entities will create additional value for the shareholders.
There is no assurance of any trading market developing.  It should be
noted that even though Daine is a public company it has not traded in
the past two years.  Management will attempt to use Daine as a "shell"
vehicle to acquire an operating business.

     On February 26, 1990 Daine acquired substantially all of the assets
(with the exception of the cash) and the business of Lite King
Corporation, a manufacturer and assembler of wiring devices, cord sets
and sockets.  The assets acquired had a total cost of $738,079,
consisting of machinery and equipment, inventory, accounts receivable,
a non compete clause entered into with Lite King Corporation's former
president and principal shareholder and a rent deposit.  The purchase
price ($663,079 in cash and a $75,000 five year note payable in
quarterly installments with interest of 12%) was arrived at by arms
length negotiations and Daine obtained the funds for the purchase from
its own internal sources.  There was no material relationship between
Daine and Lite King Corporation or any of its officers or directors
prior to this transaction.  The Registrant had entered into a six month
consulting agreement with Lite King Corporation's former president and
owner Mr. Jerold Kolton.  For the consulting services rendered the
Registrant paid Mr. Kolton the sum of $36,000 plus expenses of $9,000 or
a total of $45,000.

     Lite King's facilities consist of approximately 16,000 square feet
of office and factory space with annual lease payments of $58,000.  Lite
King's work force fluctuates during the year, from about 4-15 employees,
all, except three, which were engaged in manufacturing and assembly
activities.

     Lite King's main customer base are manufacturers of Christmas,
Easter and Halloween products.  Management considers its principal
business to be seasonal in nature with sales usually at its lowest point
during the quarter ended March 31st, with sales rising steadily during
the June, September quarters and declining in the December quarter.  The
Registrant is experiencing lower gross profit margins because of the
introduction of some new components used on some products, mandated by
Underwriters Laboratories Inc., and added competition from firms with
manufacturing facilities in China.  For the nine months ended March 31,
2000, Lite King's three largest customers accounted for about 80% of its
total sales.  (The largest of the three accounted for 59%, the second
for 11% and the third for 10%.)

     Management of the Registrant has concluded that it will continue to
experience declining profit margins in its major core business:
seasonal holiday light sets.  The declining margins are due to large
disparities in labor rates experienced by the Registrant as compared
with labor rates existing in Far Eastern markets.  Prices offered by Far
Eastern competitors continue to decline and the Registrant cannot
compete effectively with these competitors.

     The Registrant has concluded that its best strategy for the future
would be to close down its production activities, sell off its business
assets (inventory, equipment and customer accounts) and position itself
to be available as a merger candidate as a public shell company.
Management anticipates that once production and business activities in
the electrical cord field is completed in the near future, it will
distribute most of its cash to its shareholders as a dividend.

     For the first six months of calendar year 2000 the Registrant will
continue to manufacture some product for its customers.  It is presently
in discussion with a number of companies regarding their purchase of the
Registrant's inventory and equipment.  At this time, no assurance can be
given that the firm will be able to sell all of its equipment and
inventory as a package to one customer.  If the Registrant can't sell
all of its inventory and equipment to one customer and is forced to sell
off these assets individually, the Registrant may not be able to recoup
all of its cost in these assets and may suffer a loss on their sale.
During the quarter ended March 31, 2000, the Registrant has written down
its inventory by $50,000 to the estimated net realizable value.

     The cash and cash equivalents balances of the Company as of March
31, 2000 and June 30, 1999 were $836,193 and $604,463, respectively.
The increase in cash and cash equivalents was principally the result of
lower inventory levels for the quarter ended March 31, 2000.  The
Company expects that its current balances of cash and cash equivalents
will be sufficient to meet its minimum planned capital and liquidity
needs for the next year.

     The Company does not believe that the impact of inflation on its
activities is significant.

Year 2000 Compliance

     The Registrant has evaluated the impact of the Year 2000 issue on
the business and does not expect to incur significant costs with Year
2000 compliance.  The Registrant believes that all software and hardware
requirements to enable it to cope with the Year 2000 issue have been or
are being currently implemented.  However, there can be no assurance
that unanticipated costs may arise in implementing these requirements.

                     PART II.  OTHER INFORMATION:


Item 1.  Legal Proceedings. None.

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 Materially Important Events.  None.

Item 6.  Exhibits and Reports on Form 8-K.  None.




                           SIGNATURES


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



                   By:  Arthur Seidenfeld
                            President
                     Dated:    May 11, 2000