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

                                    FORM 10-Q

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

                For the quarterly period ended September 30, 1999

[ ]  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 000-7619

                          POWERSOFT TECHNOLOGIES, INC.
              ----------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)

                 Delaware                               93-0636333
      ------------------------------                 ------------------
     (State or other jurisdiction of                (I.R.S. Employer
      corporation or organization)                   Identification No.

        1281 Alberni Street, Vancouver, British Columbia Canada V6E 4R4
        ---------------------------------------------------------------
               (Address of Principal Executive Offices)(Zip Code)

Registrant's telephone number, including area code:  (604) 685-8318

 650 West Georgia Street, Suite 1088, Vancouver, British Columbia Canada V6B 4N8
 -------------------------------------------------------------------------------
                        (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 [ ]

As of November 9, 1999,  15,559,542 shares of common stock, $.01 par value, were
issued and outstanding.



<PAGE>


                          POWERSOFT TECHNOLOGIES, INC.

                                    FORM 10-Q

                                     FOR THE

                        QUARTER ENDED SEPTEMBER 30, 1999

                                      INDEX


PART I.  FINANCIAL INFORMATION                                              PAGE


Item 1.   Unaudited Financial Statements

          Condensed Consolidated Balance Sheets at
          September 30, 1999 and December 31, 1998...........................  3

          Condensed Consolidated Statements of Operations for the
          nine months and three months ended September 30, 1999 and 1998.....  5

          Condensed Consolidated Statements of Cash Flows for the
          nine months ended September 30, 1999 and 1998......................  6

          Notes to the Condensed Consolidated Financial Statements...........  7

Item 2.   Management's Discussion and Analysis of Financial
          Condition and Results of Operations................................ 12

                           PART II. OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K................................... 16

Signature Page............................................................... 17



















                                                   2

<PAGE>

                          PART I. FINANCIAL INFORMATION

Item 1.   Unaudited Financial Statements

<TABLE>
<CAPTION>
                                    POWERSOFT TECHNOLOGIES, INC.
                                CONDENSED CONSOLIDATED BALANCE SHEETS
                                             (Unaudited)
                                       (United States Dollars)


                                                                          September 30,          December 31,
                                                                              1999                   1998
                                                                           -----------           ------------
<S>                                                                       <C>                    <C>
ASSETS

Current assets:
    Cash and cash equivalents ..........................................  $   22,602             $   66,249

    Available-for-sale securities (note 3) .............................   1,751,950                439,290

    Accounts receivable, trade, less allowance for doubtful
      accounts of $0 in 1999 and 1998 ..................................      31,171                 29,830

    Prepaid and other current assets ...................................      23,237                  2,960

    Amounts receivable from related parties ............................      21,024                 15,632
                                                                          ----------             ----------
    Total current assets ...............................................   1,849,984                553,961

PROPERTY, PLANT AND EQUIPMENT, NET .....................................     668,846                661,805
                                                                          ----------             ----------
Total assets ...........................................................  $2,518,830             $1,215,766
                                                                          ==========             ==========
</TABLE>







See accompanying notes to the unaudited consolidated financial statements.

                                        3

<PAGE>

<TABLE>
<CAPTION>

                               POWERSOFT TECHNOLOGIES, INC.
                     CONDENSED CONSOLIDATED BALANCE SHEETS - continued
                                        (Unaudited)
                                  (United States Dollars)


                                                                         September 30,            December 31,
                                                                             1999                     1998
                                                                         -------------            -----------

<S>                                                                      <C>                      <C>
LIABILITIES AND SHAREHOLDERS' DEFICIT

Current liabilities:
    Mortgage loans payable - current portion ..........................  $   115,936              $   109,159
    Accounts payable ..................................................       98,031                   96,967
    Margin loan payable (note 5) ......................................    3,060,771                3,136,264
    Accrued expenses and other liabilities ............................       31,821                   80,091
    Amounts payable to related parties ................................    2,679,588                1,861,216
                                                                         -----------              -----------
    Total current liabilities: ........................................    5,986,147                5,283,697
                                                                         -----------              -----------
Long-term liabilities:
    Mortgage loans payable ............................................      718,287                  710,277
                                                                         -----------              -----------
      Total liabilities ...............................................    6,704,434                5,993,974

Commitments and contingencies

Shareholders' deficit:
    Preferred stock, $5 par value, 25,000,000 shares
      authorized; unissued ............................................         --                       --
    Common stock, $.01 par value, 30,000,000 shares
      authorized; issued and outstanding
      1999 and 1998 (15,559,542 shares) ...............................      155,595                  155,595
    Additional paid-in capital ........................................    5,385,296                5,385,296
    Accumulated deficit ...............................................   (7,698,429)              (6,981,436)
    Unrealized loss on available-for-sale securities ..................   (2,043,420)              (3,356,080)
    Cumulative exchange adjustments ...................................       15,354                   18,417
                                                                         -----------              -----------
    Total shareholders' deficit .......................................   (4,185,604)              (4,778,208)
                                                                         -----------              -----------
Total liabilities and shareholders' deficit ...........................  $ 2,518,830              $ 1,215,766
                                                                         ===========              ===========
</TABLE>





See accompanying notes to the unaudited consolidated financial statements.

                                        4

<PAGE>

<TABLE>
<CAPTION>
                                           POWERSOFT TECHNOLOGIES, INC.
                                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
                                               COMPREHENSIVE INCOME
                                                    (Unaudited)
                                              (United States Dollars)

                                                             Nine Months Ended September 30,        Three Months Ended September 30,
                                                                 1999                1998                1999                1998
                                                                 ----                ----                ----                ----
<S>                                                        <C>                      <C>                  <C>                 <C>
Revenues:
    Rental income ..................................       $    250,136             252,180              84,771              79,429
    Investment income (expense) ....................                772             (15,741)                 92             (18,620)
    Other Income ...................................              4,894                --                 1,253                --
                                                           ------------        ------------        ------------        ------------
       Total revenues ..............................            255,802             236,439              86,116              60,809
                                                           ------------        ------------        ------------        ------------
Expenses:
    Depreciation ...................................             29,391              31,941              11,797              10,647
    Legal and professional fees ....................             55,560               9,499              36,875               5,182
    Consulting fees ................................               --                62,500                --                  --
    Consulting fees paid to a
      related company ..............................            375,000             375,000             125,000             125,000
    Interest expense ...............................            324,579             375,410             134,917             160,905
    Land lease .....................................             56,314              56,132              19,051              17,959
    Rental estate
       management fees .............................             15,973              17,214               5,404               5,068
    Utilities ......................................              9,510                --                    71                --
    Other operating and
      administrative expenses ......................            106,468             133,947              47,428              57,305
                                                           ------------        ------------        ------------        ------------
       Total expenses ..............................            972,795           1,061,643             380,543             382,066
                                                           ------------        ------------        ------------        ------------
Net income (loss) ..................................           (716,993)           (825,204)           (294,427)           (321,257)
                                                           ------------        ------------        ------------        ------------

Other comprehensive income
 (loss), net of tax:
    Foreign exchange gain (loss) ...................             (3,063)             11,860              (4,030)             42,270
    Reversal of stock issued for
      consulting services ..........................               --                62,500                --                  --
    Unrealized gain (loss) on
      available for sale securities ................          1,312,660          (1,071,834)            969,920            (626,663)
                                                           ------------        ------------        ------------        ------------
    Other comprehensive income .....................          1,309,597            (997,424)            965,890            (584,393)
                                                           ------------        ------------        ------------        ------------
    Comprehensive income (loss) ....................       $    592,604          (1,822,678)            671,463            (905,650)
                                                           ============        ============        ============        ============
Earnings (loss) per share
  (basic and diluted): .............................       $      (0.05)              (0.05)              (0.02)              (0.02)
                                                           ============        ============        ============        ============
Weighted average number
  of shares of common stock
  outstanding ......................................         15,559,542          15,559,542          15,559,542          15,559,542
                                                           ============        ============        ============        ============
</TABLE>



See accompanying notes to the unaudited consolidated financial statements.

                                        5

<PAGE>

<TABLE>
<CAPTION>
                               POWERSOFT TECHNOLOGIES, INC.
                      CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                        (Unaudited)
                                  (United States Dollars)


                                                                            Nine Months Ended September 30,
                                                                               1999                  1998
                                                                               ----                  ----
<S>                                                                         <C>                    <C>
Cash flow from operating activities:
Net loss ..............................................................     $(716,993)             $(825,204)
Adjustments to reconcile net loss to net cash provided by
  (used in) operating activities:
    Depreciation and amortization .....................................        29,391                 31,941
    Consulting fee paid in common stock ...............................          --                   62,500
  Changes in working capital components:

      Accounts receivable .............................................        (1,341)               (17,897)
      Inventories .....................................................          --                     --
      Prepaid and other current assets ................................       (20,277)                 8,974

      Amounts receivable from related parties .........................        (5,392)                 8,652

      Accounts payable and accrued expenses ...........................       (47,206)               (37,793)
      Accrued interest ................................................          --                   24,487
      Security deposits payable .......................................          --                     (141)
      Amounts payable to related parties ..............................       818,372                641,839
      Exchange difference .............................................        (3,063)                15,211
                                                                            ---------              ---------
      Net cash provided by (used in) operating activities .............        53,491                (87,521)


Cash flow from investing activities:
  Investments in property and equipment ...............................       (36,432)                  --
                                                                            ---------              ---------
      Net cash provided by (used in) investing activities .............       (36,432)                  --
                                                                            ---------              ---------
Cash flow from financing activities:
  Increase (decrease)  in margin loan payable .........................       (75,493)               101,843
  Increase in mortgage loan payable ...................................        14,787                   --
  Mortgage loan repaid ................................................          --                  (17,798)
                                                                            ---------              ---------
      Net cash provided by (used in) financing activities .............       (60,706)                84,045
                                                                            ---------              ---------
Net decrease in cash and cash equivalents .............................       (43,647)                (3,386)

   Cash and cash equivalents at beginning of period ...................        66,249                 36,173
                                                                            ---------              ---------
   Cash and cash equivalents at end of period .........................     $  22,602              $  32,787
                                                                            =========              =========
</TABLE>







See accompanying notes to the unaudited consolidated financial statements.


                                        6

<PAGE>

                          POWERSOFT TECHNOLOGIES, INC.
            NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)
                             (United Stated Dollars)

1.       BASIS OF PRESENTATION

         The unaudited condensed  consolidated  financial statements include the
         accounts  of  the  Company  and  its  wholly  owned  subsidiaries.  The
         unaudited condensed  consolidated  financial statements included herein
         have been prepared by the Company, without audit, pursuant to the rules
         and  regulations  of the Securities  and Exchange  Commission.  Certain
         information  and footnote  disclosures  normally  included in financial
         statements  prepared in accordance with generally  accepted  accounting
         principles  have been  condensed or omitted  pursuant to such rules and
         regulations,  although the Company  believes that the  disclosures  are
         adequate  to  make  the  information  presented  not  misleading.   The
         unaudited  condensed  consolidated  financial  statements and the notes
         thereto should be read in conjunction with the  consolidated  financial
         statements included in the Company's Annual Report on Form 10-K for the
         year ended  December 31, 1998. In the opinion of the  management of the
         Company, the accompanying  unaudited condensed  consolidated  financial
         statements reflect all adjustments necessary to a fair statement of the
         results for the interim  periods  presented.  All  adjustments are of a
         normal recurring nature.

         The results of  operations  for the three and nine month  periods ended
         September 30, 1999 are not necessarily  indicative of the results to be
         expected for the full year.

         The unaudited condensed statements of operations for the three and nine
         month  periods  ended  September  30,  1998 have been  reclassified  to
         conform to the 1999 presentation.

2.       GOING CONCERN

         These condensed consolidated financial statements have been prepared on
         the going concern  basis of  accounting  which assumes the Company will
         realize its assets and discharge its  liabilities  in the normal course
         of  business.  The  Company is  currently  operating  at a loss and has
         minimal  in net  tangible  assets.  Should  the  Company  be  unable to
         continue  as a going  concern it may be  required to realize its assets
         and settle its liabilities at amounts substantially  different from the
         current carrying values.


                                        7

<PAGE>

                          POWERSOFT TECHNOLOGIES, INC.
            NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)
                             (United Stated Dollars)

2.       GOING CONCERN - continued

         The  Company's  ability to continue as a going  concern is dependent on
         continued  financial  support from its  principal  shareholder,  Fai H.
         Chan, who has signed a letter of financial support to the Company.

3.       AVAILABLE-FOR-SALE SECURITIES

         The cost and approximate  market value of investment securities were as
         follows:

                                                 September 30,     December 31,
                                                     1999             1998
                                                 -------------     -----------
          Corporate equity securities:

              Cost                             $   3,795,370        3,795,370
              Less gross unrealized losses        (2,043,420)      (3,356,080)
                                                 -----------       ----------
            Estimated fair value               $   1,751,950          439,290
                                                 ===========       ==========
            Carrying value                     $   1,751,950          439,290
                                                 ===========       ==========

         All investment  securities  are pledged to secure the Company's  margin
         loan payable (see note 5).

         Included in the above securities are 48,535,276 shares at September 30,
         1999,  and  December  31,  1998,   representing   3.9  percent  of  the
         outstanding  common stock of Heng Fung Holdings  Company Limited ("Heng
         Fung").  These securities were acquired in 1997 at a cost of $3,811,208
         and had a carrying  value of  $1,751,950  at September  30,  1999,  and
         $439,290 at December 31, 1998. Fai H. Chan and Robert Trapp,  directors
         of Heng Fung, are also officers,  directors and/or  shareholders of the
         Company.

         The  investment  securities  held by the Company are not subject to any
         contractual or statutory  resale  restrictions and any portion of these
         securities  can be  reasonably  expected to qualify for sale within one
         year.




                                        8

<PAGE>

                           POWERSOFT TECHNOLOGIES, INC.
             NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)
                             (United Stated Dollars)

4.       SALE OF ASSETS

         On January 18, 1999,  the Company  entered  into an agreement  with SAR
         Trading  Limited  ("SAR")  wherein  SAR  agreed to buy and the  Company
         agreed to sell all of its interests in the majority of its subsidiaries
         for  approximately  $4,838,000 in the form of the assumption of certain
         liabilities.  In  consideration  of the assumption of liabilities,  the
         Company  agreed to issue two notes  payable  to SAR in the  amounts  of
         $1,000,000  and  $3,838,000.  The  $1,000,000  note will be immediately
         convertible  into  20,000,000   common  shares  of  the  Company.   The
         $3,838,000 note will be convertible  into shares of common stock of the
         Company,  in minimum increments of $250,000 each, at the average 15 day
         trading price at the option of the Company by giving seven trading days
         notice in writing to SAR. SAR is owned 100% by Fai H. Chan. On June 18,
         1999, the Company agreed to offset  $1,365,278 due from related parties
         against the $3,838,000  note.  The agreements  with SAR were subject to
         shareholder  approval,  which was obtained on November  10, 1999.  This
         transaction  essentially  liquidates  the operations of the Company and
         transfers control of the Company to SAR.

5.       MARGIN LOAN PAYABLE

         The margin loan payable is collateralized  by the Company's  investment
         securities with a carrying value of $1,751,950  (1998:  $439,290).  The
         loan is payable on demand.















                                        9

<PAGE>


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

The  following  discussion  should  be read in  conjunction  with the  Condensed
Consolidated  Financial Statements of the Company and the related notes thereto,
and  other  financial   information   that  is  included   elsewhere  herein  or
incorporated by reference.

Introduction

The Company  was  originally  incorporated  in 1958 and until June 1994 had been
engaged in a business other than the businesses it presently operates.

The Company owns an apartment building in North Vancouver, British Columbia, and
until June 1995 the Company's  operations were comprised of that single segment.
In 1995 and 1996, the Company,  through various  subsidiaries,  acquired certain
interests in People's Republic of China (PRC), including:

          (i)  Min  You,  which  has an  option  to lease a  production  line in
               Cangzhou Factory for cement manufacturing;
          (ii) a 70% interest in Wuhan, a PRC container manufacturer;
          (iii)an  interest  in the Duck  Farm  pursuant  to which  the  Company
               operated a duck farm in PRC; and
          (iv) an  option  to form  Heng Li in order  to  develop  a  commercial
               building in Zhangjiagang Free Trade Zone, PRC.

In the fourth quarter of 1997, the Company  determined that it would discontinue
substantially  all of its  operations in PRC. The  divestiture  included (i) the
transfer of 81% of the Company's  interest in Min You to two unrelated  parties;
(ii)  effecting  an agreement  to reverse the  acquisition  of a 70% interest in
Wuhan;  (iii) the  termination  of the Company's  interest in the Duck Farm; and
(iv) the termination of the Heng Li joint venture agreement.

The Company  retained a 19% interest in Min You, but full  provisions  have been
made  against  the  remaining  cost of  investment  in Min You,  and 100% of the
outstanding capital stock of Vancouver Hong Kong Properties Ltd., which owns and
operates the apartment building.

On January 18, 1999,  the Company  entered  into an  agreement  with SAR Trading
Limited  ("SAR") wherein SAR agreed to buy and the Company agreed to sell all of
its interests in the majority of its subsidiaries for  approximately  $4,838,000
in the form of the assumption of certain  liabilities.  In  consideration of the
assumption of liabilities,  the Company agreed to issue two notes payable to SAR
in the  amounts  of  $1,000,000  and  $3,838,000.  The  $1,000,000  note will be
immediately  convertible  into  20,000,000  common  shares of the  Company.  The
$3,838,000 note will be convertible  into shares of common stock of the Company,
in minimum  increments of $250,000  each, at the average 15 day trading price at
the option of the Company by giving seven trading days notice in writing to SAR.


                                       10

<PAGE>



SAR is owned 100% by Fai H. Chan. On June 18, 1999, the Company agreed to offset
$1,365,278 due from related parties against the $3,838,000  note. The agreements
with SAR were subject to shareholder approval which was obtained on November 10,
1999. This transaction  essentially liquidates the operations of the Company and
transfers control of the Company to SAR.

Results of Continuing Operations

Included  in other  comprehensive  income  (loss)  for the  three  months  ended
September  30, 1999 and 1998 is $965,890 and  $(584,393)  respectively.  For the
nine months ended September 30, 1999 and 1998, other comprehensive income (loss)
was $1,309,597 and $(997,474), respectively. The components of net comprehensive
income (loss) were primarily  unrealized  gains and losses on available for sale
securities and currency exchange adjustments.

Nine months ended September 30, 1999 compared to the nine months ended September
30, 1998:

There were no significant  changes in the revenues and expenses  attributable to
the operation of the  apartment  building  owned and operated by Vancouver  Hong
Kong Properties  Ltd.  between the nine months ended September 30, 1999 and nine
months ended September 30, 1998.

Investment  income  increased  from a loss of $15,741 for the nine months  ended
September  30, 1998 to a gain of $772 for the nine months  ended  September  30,
1999. The Company did not engage in investment  activity  during the nine months
ended  September  30, 1999.  This is because of the  uncertainty  related to the
international  securities  markets.  The net investment loss for the nine months
ended  September 30, 1998 consists  primarily of a loss due to the expiration of
warrants, net of interest income.

Interest expense decreased from $375,410 for the nine months ended September 30,
1998 to $324,579 for the comparable  period in 1999. This is due to the decrease
in the interest rate of the margin loans  payable.  The  outstanding  balance of
margin loans payable amounted to $3,060,771 and $3,136,264 at September 30, 1999
and December 31, 1998, respectively. Other operating and administrative expenses
decreased from $133,947 for the nine months ended September 30, 1998 to $106,468
for the nine months ended  September 30, 1999.  The decrease is primarily due to
the implementation of cost control measures regarding expenses.

The Company's net loss was $716,993 for the nine months ended September 30, 1999
as compared to a net loss of $825,204  for the nine months ended  September  30,
1998.  This  trend of lower  losses is also  reflected  in the  decrease  in the
expenses described above.

Three  months  ended  September  30, 1999 as compared to the three  months ended
September 30, 1998:

There were no significant  changes in the revenues and expenses  attributable to
the  operation  of  Vancouver  Hong Kong's real estate  between the three months
ended September 30, 1999 and three months ended September 30, 1998.

Investment  income  increased  from a loss of $18,620 for the three months ended
September  30, 1998 to income of $92 for the three  months ended  September  30,
1998. The Company did not engage in investment  activity during the three months
ended September 30, 1999 or 1998. This is because of the uncertainty  related to
the  international  securities  markets.  The net  investment  loss amounting to


                                       11

<PAGE>



$18,620 for the three months ended  September 30, 1998  consists  primarily of a
loss due to the expiration of warrants.

The  Company's  net loss was $294,427 for the three months ended  September  30,
1999, as compared to a net loss of $321,257 for the three months ended September
30, 1998. The reasons for this trend are the  reductions in other  operating and
administrative  expenses and interest  expense,  and the offsetting  increase in
legal and professional fees.

Inflation

The effect on inflation on the  Company's  operations is not material and is not
anticipated to have any material effect in the future.


Liquidity and Capital Resources

The net  cash  provided  by  operating  activities  for the  nine  months  ended
September  30, 1999 amounted to $53,491.  The Company meets its working  capital
requirements  from the  proceeds of margin loans and the  collection  of amounts
from related parties.

During the nine months ended  September  30, 1999,  the Company made  additional
cash investments in facilities of $36,432.

The net cash used in  financing  activities  amounted  to  $60,706  for the nine
months ended  September  30, 1999.  This is due primarily to the decrease in the
margin loan payable.

The net cash provided by operating  activities  for nine months ended  September
30, 1999 amounted to $53,491.  This was  primarily  due to the operating  losses
experienced  of  $716,993,  net of an  increase  in  amounts  payable to related
parties of $818,372.

As  discussed  in Note 2 of the notes to the  condensed  consolidated  financial
statements, the Company's operating losses and deficiency in net tangible assets
raise substantial doubts concerning the Company's ability to continue as a going
concern.  However, the Company's principal shareholder has agreed to continue to
provide the Company with necessary financial support.


                                       12

<PAGE>


Regional Economic Developments

Several countries in Asia have recently experienced significant adverse economic
developments including substantial exchange rate fluctuations, inflation, social
unrest,  increased  interest rates,  reduced  economic  growth rates,  corporate
bankruptcies,  declines in the market value of shares listed on stock exchanges,
emergency   loan   agreements   with  the   International   Monetary   Fund  and
government-imposed  austerity  measures.  To date, neither PRC nor Hong Kong has
experienced these developments.

The Year 2000

The Year  2000  issue  refers  to the  fact  that  many  computer  systems  were
originally  programmed  using two digits rather than four digits to identify the
applicable  year.  When the year 2000 occurs,  these systems could interpret the
year as 1900 rather than 2000. Unless hardware, system software and applications
are corrected to be Year 2000 compliant,  computers and the devices they control
could generate miscalculations and create operational problems.  Various systems
could be affected ranging from complex  information  technology  ("IT") computer
systems to non-IT  devices such as an individual  machine's  programmable  logic
controller.

The Company has an informal  contingency plan for its applications.  The Company
is working  continually  with the third party  suppliers of software and related
services in resolving Year 2000 issues.  The Company's formal  contingency plans
are currently being developed in conjunction  with these  suppliers.  Testing is
complete.  The Company will continue to monitor the progress of the suppliers in
the  resolution of Year 2000 issues and continue to evaluate the necessity of an
independent contingency plan.

Item 6.  Exhibits and Reports on Form 8-K

(a)      Exhibit No.       Description
         ----------        -----------

            27.1           Financial Data Schedule for September 30, 1999

(b)      Reports on Form 8-K:

               There  were no  Current  Reports  on Form 8-K  filed  during  the
               quarter ended September 30, 1999.







                                       13

<PAGE>


                                   SIGNATURES


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


                                               POWERSOFT TECHNOLOGIES, INC.




Dated:  November 18, 1999                      By:  /s/ Robert H. Trapp
                                                  ------------------------------
                                                    Robert H. Trapp
                                                    Secretary and Treasurer



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