UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB


           [X] Quarterly Report Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934
                For the quarterly period ended September 30, 2000
                                       or
            [ ] Transition Report Pursuant to Section 13 or 15 (d) of
                       the Securities Exchange Act of 1934

                           Commission file No. 0-30641

                           L.A.M. PHARMACEUTICAL CORP.
                           ---------------------------
             (Exact name of registrant as specified in its charter)

              Delaware                             Applied for
        -------------------                  --------------------------
         (State of incorporation)        (I.R.S. Employer Identification Number)


                            800 Sheppard Avenue West,
                                Commercial Unit 1
                       North York, Ontario, Canada M3H 6B4
               (address of principal executive offices) (Zip Code)

                                 (416) 633-3004
                           --------- ----------------
              (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  Exchange Act
   of 1934 during the  proceeding 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 September  30, 2000,  the Company had  11,342,500  issued and  outstanding
shares of common stock.


<PAGE>


                                     PART I






                          L.A.M. PHARMACEUTICAL, CORP.
                          (A DEVELOPMENT STAGE COMPANY)

                              FINANCIAL STATEMENTS

                           September 30, 2000 and 1999




<PAGE>








L.A.M. PHARMACEUTICAL, CORP.
(A DEVELOPMENT STAGE COMPANY)
(A DELAWARE CORPORATION)

TABLE OF CONTENTS
--------------------------------------------------------------------------------

Independent Accountants' Report on Unaudited Interim
 Financial Data                                                          F-2

Balance Sheets at September 30, 2000 (Unaudited) and
 December 31, 1999                                                       F-3

Statements of Changes in Stockholders' Deficit for the Period
 From the Date Of Inception (February 1, 1994) Through
 September 30, 2000 (Unaudited)                                       F-4 to F-6

Statements  of Operations  for the Three Months and Nine
 Months Ended  September 30, 2000 and 1999 (Unaudited) and
 for the Period From the Date of Inception (February 1, 1994)
 Through September 30, 2000 (Unaudited)                                  F-7

Statements  of Cash Flows for the Three Months and Nine
 months Ended September 30, 2000 and 1999 (Unaudited) and
 for the Period From the Date of Inception (February 1, 1994)
 Through September 30, 2000 (Unaudited)                                F8 to F-9

Notes to Financial Statements                                            F-9






<PAGE>






                         INDEPENDENT ACCOUNTANTS' REPORT


To the Board of Directors
L.A.M. Pharmaceutical, Corp.
Miami, Florida


      We have reviewed the accompanying balance sheet of L.A.M.  Pharmaceutical,
Corp. (a Development Stage Company) (A Delaware Corporation) as of September 30,
2000 and the related statements of operations,  changes in stockholders' deficit
and cash flows for the three months and nine months ended September 30, 2000 and
1999 and for the period from the date of inception  (February  1, 1994)  through
September 30, 2000, in accordance  with  standards  established  by the American
Institute of Certified  Public  Accountants.  All information  included in these
financial statements is the representation of the Company's management.

      A review  consists  principally  of  inquiries  of Company  personnel  and
analytical procedures applied to the financial data. It is substantially less in
scope than an audit 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 accompanying  financial statements in order 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 December 31, 1999 (presented herein), and the
related  statements of  operations,  changes in  stockholders'  deficit and cash
flows for the two years in the period  then  ended,  and for the period from the
date of inception  (February 1, 1994)) through  December 31, 1999 (not presented
herein),  and in our report  dated March 15, 2000,  we expressed an  unqualified
opinion  on those  financial  statements.  We have not  performed  any  auditing
procedures subsequent to the date of our previous report.




Rotenberg & Company, LLP
Rochester, New York
  November 2, 2000



<PAGE>




L.A.M. PHARMACEUTICAL, CORP.
(A DEVELOPMENT STAGE COMPANY)
(A DELAWARE CORPORATION)


BALANCE SHEETS
                                             (Unaudited)
                                          September 30, 2000  December 31, 1999
ASSETS
Current Assets
Cash and Cash Equivalents                  $    544,025       $     558,710
Cash Held by Broker - Debentures              1,300,000             465,000
Note Receivable - Debentures                     50,000              50,000
Accounts Receivable                              75,000              75,000
Inventory - Raw Materials                       125,375                  --
Prepaid Expenses                                  5,278                  --
Total Current Assets                          2,099,678           1,148,710

Property and Equipment - Net of
   Accumulated Depreciation                      19,082               4,922

Other Assets
Patents and Trademarks - Net of Accumulated
   Amortization                                 319,252             232,417

Total Assets                              $   2,438,012        $  1,386,049

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts Payable and Accrued Expenses     $     371,000        $    111,627
Convertible Debentures                        2,507,500           1,252,000
Total Current Liabilities                     2,878,500           1,363,627

Non-Current Liabilities
Due to Stockholders                           1,266,837           1,390,837
Deferred Royalty Revenue                        207,360             207,360
Total Liabilities                             4,352,697           2,961,824

Stockholders' Deficit
Common Stock - $.0001 Par; 50,000,000 Shares
Authorized;
   11,342,500  and 10,392,500 Shares Issued and
   Outstanding as of September 30, 2000 and
   December 31,1999, Respectively                 1,134               1,039
Additional Paid in Capital                    4,464,614           3,461,483
Deficit Accumulated During
   Development Stage                         (6,380,433)         (5,038,297)
Total Stockholders' Deficit                  (1,914,685)         (1,575,775)

Total Liabilities and Stockholders'
   Deficit                                 $  2,438,012        $  1,386,049



          The  accompanying   notes  are  an  integral  part  of  the  financial
statement.


<PAGE>


L.A.M. PHARMACEUTICAL, CORP.
(A DEVELOPMENT STAGE COMPANY)
(A DELAWARE CORPORATION)


STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT
For the Period From the Date of Inception (February 1, 1994) Through
September 30, 2000

<TABLE>
<S>                                <C>       <C>        <C>         <C>             <C>

-------------------------------------------------------------------------------------------------
                                                                   Deficit
                                                                 Accumulated
                                                     Additional     During         Total
                                            Common    Paid-In     Development   Stockholders
                                  Shares    Stock     Capital       Stage      Equity/(Deficit)
-------------------------------------------------------------------------------------------------
Inception - February 1, 1994    $    --       --        --            --              --

Capital Contribution - Services
Rendered                             --       --       22,799         --          22,799

Capital Contribution -  Laboratory
Equipment                            --       --       24,245         --          24,245

Net Loss
                                     --       --         --        (356,393)    (356,393)
----------------------------------------------------------------------------------------
Balance - December 31, 1994
                                     --       --       47,044      (356,393)    (309,349)

Capital Contribution - Services
Rendered                             --       --      172,020          --        172,020

Net Loss
                                     --       --         --        (522,095)    (522,095)
----------------------------------------------------------------------------------------
Balance - December 31, 1995
                                     --       --      219,064      (878,488)    (659,424)

Capital Contribution - Services
Rendered                             --       --      185,495          --        185,495

Capital Contribution - Leasehold
Improvements                         --       --        9,775          --          9,775

Capital Contribution - Interest
Expense                              --       --       49,738          --         49,738

Capital Contribution in Cash
                                     --       --       51,001          --         51,001

Net Loss
                                     --       --          --       (643,733)    (643,733)
----------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Balance - December 31, 1996
                                     --       --      515,073    (1,522,221)  (1,007,148)

Capital Contribution - Services
Rendered                             --       --      377,072          --        377,072

Capital Contribution - Interest
Expense                              --       --       99,477          --         99,477

Capital Contribution in Cash
                                     --       --      111,199          --        111,199

Distribution
                                     --       --      (30,000)         --        (30,000)

Net Loss
                                     --       --          --       (499,626)    (499,626)
----------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------
Balance - December 31, 1997          --    $  --   $1,072,821  $ (2,021,847)   $(949,026)

</TABLE>


                                   -continued-




<PAGE>



L.A.M. PHARMACEUTICAL, CORP.
(A DEVELOPMENT STAGE COMPANY)
(A DELAWARE CORPORATION)


STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT

For the Period From the Date of Inception  (February 1, 1994) Through  September
30, 2000 - Continued


<TABLE>
<S>                                <C>       <C>        <C>         <C>             <C>

-------------------------------------------------------------------------------------------------
                                                                   Deficit
                                                                 Accumulated
                                                     Additional     During         Total
                                            Common    Paid-In     Development   Stockholders
                                  Shares    Stock     Capital       Stage      Equity/(Deficit)
-------------------------------------------------------------------------------------------------
Balance - December 31, 1997         --     $   --   $1,072,821  $(2,021,847)    $(949,026)

Recapitalization as L.A.M.
  Pharmaceutical, Corp.       6,000,000       600         (600)          --            --

Capital Contribution - Interest
Expense                             --         --      103,579           --       103,579

Issuance of Common Stock
 for Cash                     4,332,500       433      378,352           --       378,785

Distribution                        --         --      (38,660)          --       (38,660)

Net Loss                            --         --           --     (458,807)     (458,807)
-------------------------------------------------------------------------------------------
Balance - December
 31, 1998                    10,332,500     1,033    1,515,492   (2,480,654)     (964,129)

Capital Contribution - Interest
Expense                             --         --      107,681           --       107,681

Issuance of Common Stock
 for Cash                       60,000          6       59,994           --        60,000

Stock Options and Awards Granted
- Compensation for Services
Rendered                            --         --      526,316           --       526,316

Conversion Premium on
  Convertible Debentures            --         --    1,252,000           --     1,252,000

Net Loss
                                    --         --           --    (2,557,643)  (2,557,643)
-------------------------------------------------------------------------------------------
 Balance - December
  31, 1999                  10,392,500      1,039    3,461,483    (5,038,297)  (1,575,775)

Capital Contribution - Interest
Expense                             --         --       26,923            --       26,923

Conversion Premium on
  Convertible Debentures            --         --      265,000            --      265,000

Net Loss for the Period -
(Unaudited)                         --         --           --      (724,566)    (724,566)
-------------------------------------------------------------------------------------------
 Balance - March
  31, 2000                  10,392,500     $1,039    $3,753,406   $(5,762,863) $(2,008,418)


</TABLE>



                                   -continued-

<PAGE>


L.A.M. PHARMACEUTICAL, CORP.
(A DEVELOPMENT STAGE COMPANY)
(A DELAWARE CORPORATION)


STATEMENTS OF CHANGES IN STOCKHOLDERS'
DEFICIT

For the Period From the Date of Inception  (February 1, 1994) Through  September
30, 2000 - Continued


<TABLE>
<S>                                <C>       <C>        <C>         <C>             <C>

-------------------------------------------------------------------------------------------------
                                                                   Deficit
                                                                 Accumulated
                                                     Additional     During         Total
                                            Common    Paid-In     Development   Stockholders
                                  Shares    Stock     Capital       Stage      Equity/(Deficit)
-------------------------------------------------------------------------------------------------
Balance - March 31, 2000       10,392,500   $1,039   $3,753,406  $(5,762,863)   $(2,008,418)

Capital Contribution - Interest
Expense                                --       --       26,923           --         26,923

Conversion Premium on
  Convertible Debentures               --       --       10,000           --         10,000

Net Loss for the Period -
(Unaudited)                            --       --           --     (191,801)      (191,801)
-------------------------------------------------------------------------------------------

Balance - June 30, 2000        10,392,500    1,039    3,790,329   (5,954,664)    (2,163,296)
-------------------------------------------------------------------------------------------

Capital Contribution - Interest
Expense                                --       --       26,920           --         26,920

Conversion Premium on
  Convertible Debentures               --       --       85,260           --         85,260

Debentures Converted to Common
Stock                             780,000       78      439,922           --        440,000

Stock Options Exercised           170,000       17      122,183           --        122,200

Net Loss for the Period -
(Unaudited)                            --       --           --     (425,769)      (425,769)
--------------------------------------------------------------------------------------------

Balance - September 30, 2000   11,342,500   $1,134   $4,464,614  $(6,380,433)    (1,914,685)
--------------------------------------------------------------------------------------------

</TABLE>



          The  accompanying   notes  are  an  integral  part  of  the  financial
statement.






<PAGE>



L.A.M. PHARMACEUTICAL, CORP.
(A DEVELOPMENT STAGE COMPANY)
(A DELAWARE CORPORATION)



STATEMENTS OF OPERATIONS
For the Three Months and Nine Months Ended  September  30, 2000 and 1999 and for
the Period From the Date of Inception (February 1, 1994) Through
September 30, 2000

--------------------------------------------------------------------------------


                                                                       Date of
                           (Unaudited)          (Unaudited)        Inception
                                                                   (February 1,
                          Nine Months Ended   Three Months Ended        1994)
                            September 30,        September 30,       Through
                                                                   September 30,
                               2000       1999     2000       1999      2000
--------------------------------------------------------------------------------
Total Revenue                 $  --       $ --    $   --     $  --     $ 200,000
--------------------------------------------------------------------------------

Expenses
Research and Development      247,564   119,178   183,575    60,891    1,958,343
General and Administrative    553,525   185,044   145,980    56,222    2,209,817
Interest Expense              178,976    83,786    58,600    29,940      552,395
Conversion Premium            360,260   225,000    85,260   225,000    1,612,260
Depreciation and
  Amortization                 21,907     5,303     8,785     2,213       64,717
--------------------------------------------------------------------------------
Total Expenses              1,362,232   618,311   432,200   374,266    6,397,532
--------------------------------------------------------------------------------
Loss From Operations       (1,362,232) (618,311) (432,200) (374,266) (6,197,532)
--------------------------------------------------------------------------------
Other Income (Expense)
Interest Income                20,095     4,569     6,431        --       24,459
Loss on Investment in
Affiliate                          --        --        --        --    (207,360)
--------------------------------------------------------------------------------

Total Other Income
  (Expense)                    20,095     4,569     6,431        --    (182,901)
--------------------------------------------------------------------------------
Net Loss                  $(1,342,137)$(613,742)$(425,769)$(374,266)$(6,380,433)
--------------------------------------------------------------------------------

Loss Per Common
  Share - Basic
  and Diluted             $    (0.13) $   (0.06)  $ (0.04)  $(0.04)    $  (0.58)
--------------------------------------------------------------------------------

Weighted Average Number
 of Common Shares
 Outstanding              10,572,944 10,332,500 10,929,910 10,332,500
------------------------------------------------------------------------




          The  accompanying   notes  are  an  integral  part  of  the  financial
statement.





<PAGE>



L.A.M. PHARMACEUTICAL CORP.
(A DEVELOPMENT STAGE COMPANY)
(A DELAWARE CORPORATION)



STATEMENTS OF CASH FLOWS
For the Three Months and Nine Months Ended  September  30, 2000 and 1999 and for
the Period From the Date of Inception  (February 1, 1994) Through  September 30,
2000

--------------------------------------------------------------------------------


                                                                       Date of
                           (Unaudited)          (Unaudited)        Inception
                                                                   (February 1,
                          Nine Months Ended   Three Months Ended        1994)
                            September 30,        September 30,       Through
                                                                   September 30,
                          2000       1999        2000       1999        2000
--------------------------------------------------------------------------------
Cash Flows from
Operating Activities
Net Loss              $(1,342,137) $(613,742) $(425,769) $(374,266) $(6,380,433)

Adjustments to
 Reconcile Net Loss to
 Net Cash Flows From
 Operating Activities:
  Depreciation and
    Amortization           21,907      5,303      8,785     2,213        64,717
 Capital Contributions:
  Interest Expense        80,766     83,786     26,920    29,940       441,241
   Conversion Premium
   on Debentures          360,260    225,000     85,260   225,000     1,612,260
  Loss on Investment
   in Affiliate                --         --         --        --       207,360
 Changes in Assets
  and Liabilities:
   Accounts Receivable         --    (18,700)        --     8,000       (75,000)
   Inventory - Raw
    Materials            (125,375)        --   (100,375)       --      (125,375)
   Prepaid Expenses        (5,278)        --      2,639        --        (5,278)
   Accounts Payable
    and Accrued Expenses  259,373     92,853    101,770   (95,763)      371,000
    Due to Stockholders  (124,000)        --         --        --     1,266,837
    Other                      --         --        466        --          (669)
Net Cash Flows from
 Operating Activities    (874,484)  (225,034)  (300,770) (205,545)   (2,622,671)
                         -------------------------------------------------------

Cash Flows from
 Investing Activities
 Equipment                (17,165)        --     (5,319)       --       (22,251)
Patents and Trademarks   (105,736)   (94,769)   (47,760)   (3,143)     (346,779)
                         -------------------------------------------------------

Net Cash Flows from
 Investing Activities    (122,901)   (94,769)   (53,079)   (3,143)     (369,029)
                         -------------------------------------------------------

Cash Flows from
 Financing Activities
 Cash Capital Contributions    --         --         --        --       162,200
Distributions to Stockholders  --         --         --        --       (68,660)
Proceeds from Issuance of
 Common Stock                  --         --         --        --       438,785
Proceeds from Convertible
 Debentures             1,695,500    125,000  1,420,500   225,000     2,897,500
Stock Options and
 Awards Granted                --         --         --        --     1,283,700
Note Payable                   --         --         --   (10,640)           --
Proceeds from the
 Exercise of Stock
 Options                  122,200         --    122,200        --       122,200
                          ------------------------------------------------------

Net Cash Flows from
 Financing Activities   1,817,700    125,000  1,542,700   214,360     4,835,725
                        --------------------------------------------------------

Net Increase in Cash
 and Cash Equivalents     820,315   (194,803) 1,188,851     5,672     1,844,025
Cash and Cash
 Equivalents -
 Beginning              1,023,710    410,577    655,174   210,102            --
                        --------------------------------------------------------

Cash and Cash
 Equivalents - Ending   1,844,025    215,774  1,844,025   215,774     1,844,025
                        --------------------------------------------------------



<PAGE>



L.A.M. PHARMACEUTICAL CORP.
(A DEVELOPMENT STAGE COMPANY)
(A DELAWARE CORPORATION)



NON-CASH INVESTING AND FINANCING ACTIVITIES

--------------------------------------------------------------------------------


                                                                       Date of
                           (Unaudited)          (Unaudited)        Inception
                                                                   (February 1,
                          Nine Months Ended   Three Months Ended        1994)
                            September 30,        September 30,       Through
                                                                   September 30,
                          2000       1999        2000       1999        2000
--------------------------------------------------------------------------------

Issuance of Common
 Stock in Exchange
 for Property and
 Equipment              $   --      $  --       $  --      $  --     $ 34,020

Debentures Converted
 to Common Stock     $ 440,000      $  --     440,000      $  --     $440,000

Investment in Affiliate   $ --      $  --       $  --      $  --     $207,360

Deferred Revenue          $ --      $  --       $  --      $  --     $207,360
--------------------------------------------------------------------------------













          The  accompanying   notes  are  an  integral  part  of  the  financial
statement.




<PAGE>


L.A.M. PHARMACEUTICAL, CORP.
(A DEVELOPMENT STAGE COMPANY)
(A DELAWARE CORPORATION)



NOTES TO FINANCIAL STATEMENTS
--------------------------------------------------------------------------------

Note A -          Basis of Presentation

        The condensed financial statements of L.A.M. Pharmaceutical,  Corp. (the
        "Company")  included  herein have been prepared by the Company,  without
        audit,  pursuant  to the rules and  regulations  of the  Securities  and
        Exchange  Commission  (the  "SEC").  Certain  information  and  footnote
        disclosures  normally  included  in  financial  statements  prepared  in
        conjunction  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.   These  condensed   financial
        statements  should  be read  in  conjunction  with  the  annual  audited
        financial  statements  and the notes  thereto  included in the Company's
        registration statement on Form 10SB.

        The accompanying  unaudited  interim  financial  statements  reflect all
        adjustments  of a normal and recurring  nature which are, in the opinion
        of  management,  necessary  to present  fairly the  financial  position,
        results of  operations  and cash flows of the  Company  for the  interim
        periods  presented.  The results of operations for these periods are not
        necessarily  comparable  to,  or  indicative  of,  results  of any other
        interim  period or for the calendar year taken as a whole.  Factors that
        affect the  comparability  of  financial  data from year to year and for
        comparable  interim periods include  non-recurring  expenses  associated
        with  the  Company's  registration  with  the  Securities  and  Exchange
        Commission  and costs  incurred  to raise  capital and  acquisitions  of
        patents and trademarks.




<PAGE>




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

This  Quarterly  Report  on  Form  10-QSB  contains  certain   statements  of  a
forward-looking  nature  relating  to  future  events  or the  future  financial
performance of the Company.  Such statements are only predictions and the actual
events or results  may  differ  materially  from the  results  discussed  in the
forward-looking  statements.  Factors  that could  cause or  contribute  to such
differences  include those  discussed  below as well as those discussed in other
filings  made by the  Company  with  the  Securities  and  Exchange  Commission,
including  the  Company's  Annual  Report  included in its initial  registration
statement on Form 10-SB.

                                    Overview

Since its  inception  in 1994,  the  Company has been  engaged in  research  and
development activities and organizational efforts, including:

o     Identification and licensing of novel and proprietary pharmaceuticals;

o     Development of a proprietary drug delivery system;

o     Conducting pre-clinical studies and clinical trials;

o     Recruiting scientific and management personnel;

o     Establishing laboratory facilities; and

o     Raising capital.

All of the Company's  products are in the development  stage.  As a result,  the
Company has not generated any revenues from the sale of pharmaceutical products.
It could be several years,  if ever,  before the Company may recognize  revenues
from royalties  received  pursuant to any license  agreements  since the Company
does not expect to sell its products directly to the public.  Revenues since the
Company's  inception  have been  limited to  payments  received  from a licensee
pursuant to a research and development cost reimbursement agreement and interest
income on invested cash balances.

Due to the  lack of any  significant  revenues,  the  Company  has  relied  upon
proceeds from the private sale of its common stock and convertible debentures to
meet its funding  requirements.  Funds raised by the Company have been  expended
primarily  in  connection  with  research,  development,  clinical  studies  and
administrative  costs. Since the Company does not anticipate  realizing revenues
until such time as it begins the commercial  sale of its products or enters into
licensing  arrangements  regarding  these products (which could take a number of
years),  the Company will be required to fund its operations through the sale of
securities,  debt  financing  or other  arrangements.  However,  there can be no
assurance  that such  financing  will be  available or be available on favorable
terms.



<PAGE>


                              Results of Operations

Three  months  ended  September  30, 2000 as compared to the three  months ended
September 30, 1999

Research and Development Expenses

Research and development  expenses increased by $72,684 (119.4%) to $133,575 for
the three  months  ended  September  30, 2000 from  $60,891 for the three months
ended September 30, 1999. The increase is primarily  attributable to an increase
in contracted research costs incurred in conducting clinical trials. These costs
tend to fluctuate from period to period depending on the status of the Company's
research projects and the timing of clinical trials.

General and Administrative Expenses

General and  administrative  expenses  increased by $89,758 (159.6%) to $145,980
for the three months ended  September 30, 2000 from $56,222 for the three months
ended  September 30, 1999. The increase in general and  administrative  expenses
was attributable to the Company's efforts in raising capital,  restructuring its
business activities, and registering the Company's common stock.

The primary  components  of general and  administrative  expenses  for the three
months ended September 30, 2000 and 1999 were as follows:

                                          2000                1999
                                          ----                ----

      Officer's salary               $    30,000       $    30,000
      Employee salaries and benefits      36,928             2,658
      Less: Salaries classified as
         Research & Development          (74,642)          (30,890)
      Investor Relations                  16,640            16,254
      Commissions paid on sales of
         Convertible Notes                14,000               ---
      Financial Consulting                 7,000             7,000
      Legal and Auditing                  74,763            10,248
      Other Supplies and Expenses         41,291            20,952
                                     -----------      ------------

         Total                         $ 145,980        $   56,222
                                       =========        ==========

Interest Expense

Interest  expense for the three months  ended  September  30, 2000  increased by
$28,660  (95.7%) to $58,600 as compared  with $29,940 for the three months ended
September 30, 1999. The increase represents the interest accrued for the quarter
on the convertible debentures that were issued during the fourth quarter of 1999
and the nine months ended September 30, 2000.




<PAGE>


Conversion Premium

Conversion  premium on the  convertible  debentures  for the three  months ended
September  30, 2000  decreased by $139,740  (62.1%) to $85,260 as compared  with
$225,000 for the three months ended September 30, 1999.

The decrease reflects the difference  between the fair value of the common stock
and the conversion  price based on the amount of convertible  debentures sold in
each respective quarter.

Depreciation and Amortization

Depreciation  and  amortization  increased by $6,572  (297.0%) to $8,785 for the
three  months  ended  September  30, 2000 as compared  with $2,213 for the three
months ended September 30, 1999. The increase was attributable  primarily to the
amortization of patents and trademarks acquired during 1999.

Other Income

Other income,  which is comprised  only of interest  income,  was $6,432 for the
three months ended  September  30, 2000 as compared with $0 for the three months
ended  September  30,  1999.  The  increase  was  attributed  to the increase in
invested cash as a result of the  debentures  that were issued during the fourth
quarter of 1999 and the nine months ended September 30, 2000.

Nine months  ended  September  30,  2000 as  compared  to the nine months  ended
September 30, 1999

Research and Development Expenses

Research and development expenses increased by $128,386 (107.7%) to $247,564 for
the nine months ended September 30, 2000 from $119,178 for the nine months ended
September  30, 1999.  The increase is primarily  attributable  to an increase in
contracted  research costs incurred in conducting  clinical trials.  These costs
tend to fluctuate from period to period depending on the status of the Company's
research projects and the timing of clinical trials.

General and Administrative Expenses

General and  administrative  expenses increased by $368,481 (199.1%) to $553,525
for the nine months ended  September  30, 2000 from $185,044 for the nine months
ended  September 30, 1999. The increase in general and  administrative  expenses
was attributable to the Company's efforts in raising capital,  restructuring its
business activities, and registering the Company's common stock.

The primary  components  of general  and  administrative  expenses  for the nine
months ended September 30, 2000 and 1999 were as follows:




<PAGE>



                                          2000              1999
                                          ----              ----

      Officer's salary               $    90,000       $    90,000
      Employee salaries and benefits     225,186            51,249
      Less: Salaries classified as
         Research & Development         (212,287)         (134,878)
      Investor Relations                  84,239            49,294
      Commissions paid on sales of
         Convertible Notes                88,600                --
      Financial Consulting                31,500            32,261
      Legal and Auditing                 133,109            65,073
      Other Supplies and Expenses        113,178            32,045
                                      ----------      ------------

         Total                         $ 553,525         $ 185,044
                                       =========         =========

Interest Expense

Interest  expense for the nine months  ended  September  30, 2000  increased  by
$95,190  (113.6%) to $178,976 as compared with $83,786 for the nine months ended
September 30, 1999. The increase  represents  the interest  accrued for the nine
months on the convertible  debentures that were issued during the fourth quarter
of 1999 and the nine months ended September 30, 2000.

Conversion Premium

Conversion  premium on the  convertible  debentures  for the nine  months  ended
September  30, 2000  increased by $135,260  (60.1%) to $360,260 as compared with
$225,000 for the nine months ended September 30, 1999. The increase reflects the
difference  between the fair value of the common stock and the conversion  price
based on the amount of convertible debentures sold in each respective period.

Depreciation and Amortization

Depreciation and  amortization  increased by $16,604 (313.1%) to $21,907 for the
nine months ended September 30, 2000 as compared with $5,303 for the nine months
ended  September  30,  1999.  The  increase  was  attributable  primarily to the
amortization of patents and trademarks acquired during 1999.

Other Income

Other income,  which is comprised only of interest  income,  was $20,095 for the
nine months ended September 30, 2000 as compared with $4,569 for the nine months
ended  September  30,  1999.  The  increase  was  attributed  to the increase in
invested cash as a result of the  debentures  that were issued during the fourth
quarter of 1999 and the nine months ended September 30, 2000.



<PAGE>


Liquidity and Sources of Capital

The Company's  primary  source of liquidity as of September 30, 2000 is cash and
cash equivalent  investments of approximately  $544,000 and cash held by brokers
on the sale of convertible  debentures of $1,300,000.  The deficiency in working
capital, net of the liability for the convertible  debentures,  increased from a
negative $215,000 as of December 31, 1999 to a negative $779,000 as of September
30, 2000.

The Company's  operations  used  approximately  $874,000 in cash during the nine
months  ended  September  30,  2000.  During this period the Company  also spent
approximately  $106,000  on patent and  trademark  applications  and $17,000 for
equipment  purchases.  Cash required  during the nine months ended September 30,
2000 was generated  through sales of  convertible  debentures of $1,695,500  and
$122,200 in proceeds from the exercise of stock options.

During the nine months ended  September 30, 1999 the Company's  operations  used
approximately  $225,000 in cash and the Company spent  approximately  $95,000 on
patent  and  trademark  applications.  Cash  required  during  this  period  was
generated through sales of the Company's convertible  debentures of $125,000 and
the use of existing cash balances.

The Company's operations used approximately  $301,000 in cash during the quarter
ended  September  30,  2000 as compared  with  $204,000  for the  quarter  ended
September  30,  1999.  The  Company  spent  approximately  $48,000 and $3,000 on
patents and trademark  applications and $5,000 and $1,000 on equipment purchases
for the quarters ended September 30, 2000 and 1999, respectively.  Cash required
during  these  periods  was  derived  primarily  from  the  sale of  convertible
debentures of $1,420,500 and $225,000, respectively.

During the next twelve  months,  the Company  expects that it will spend between
$110,000 and $150,000 on research,  development, and clinical studies, exclusive
of amounts  which the  Company  expects to be paid by a  licensee  for  clinical
studies relating to the Company's sexual  dysfunction  drug. As of September 30,
2000 the Company had working capital of approximately  $1,700,000  (exclusive of
the  convertible  debentures,  that are expected to be converted to equity,  and
liabilities due to  shareholders  of the Company).  The Company plans to use its
existing financial resources as well as the proceeds from the sale of its common
stock and convertible debentures to fund its research and development activities
and its capital requirements during the next twelve months. The Company does not
have any commitments from any third party to provide any capital to the Company.
It should be noted  that  substantial  funds  may be needed  for more  extensive
research and clinical  studies that may be necessary  before the Company will be
able to sell any of its products on a commercial basis.

Other than funding its research and development activities and operating losses,
the Company does not have any material capital commitments.





<PAGE>


Plan of Operation

During the next twelve months the Company:

o          will attempt to license or joint venture the  technology  relating to
           its  Arthritic  Pain  Drug  to a  larger  corporation  which  has the
           financial resources required to perform the clinical studies required
           for FDA approval.

o          with  the  funding  received  from a  licensee,  apply to the FDA for
           clearance  to begin  Phase I  clinical  trials to test the  Company's
           Sexual Dysfunction Drug.

o          plans to continue  testing the  Company's  skin care  products with a
           view to  licensing  the IPM  technology  to third  parties for use in
           products which will be classified as cosmetics or OTC drugs.

      During the next twelve months the Company does not anticipate  hiring more
than two employees.






<PAGE>


                                     PART II
                                OTHER INFORMATION


Item 2.       Changes in Securities

      During the three months ending September 30, 2000, the Company:

1.   Issued  780,000 shares of its common stock as a result of the conversion of
     certain convertible notes previously sold by the Company and

2.   Issued  170,000 shares of its common stock as the result of the exercise of
     certain options previously granted by the Company.

      With respect to the  foregoing,  the shares issued upon the  conversion of
the notes were issued in reliance upon the exemption provided by Section 3(a)(9)
of the Securities Act of 1933.

      The shares  issued upon the  exercise  of the  options  during the quarter
ending  September 30, 2000 were not registered  under the Securities Act of 1933
but were sold in reliance  upon the  exemption  provided by Section  4(2) of the
Act.  The  persons  who  acquired   these  shares  were  either   accredited  or
sophisticated investors. The shares of common stock were acquired for investment
purposes only and without a view to distribution. The persons who acquired these
shares were fully  informed and advised  about matters  concerning  the Company,
including the  Company's  business,  financial  affairs and other  matters.  The
persons  acquired  these  shares  for  their  own  accounts.   The  certificates
representing the shares of common stock bear legends stating that the shares may
not be  offered,  sold  or  transferred  other  than  pursuant  to an  effective
registration  statement  under the  Securities  Act of 1933,  or  pursuant to an
applicable exemption from registration.  The shares are "restricted"  securities
as defined in Rule 144 of the Securities and Exchange Commission.

Item 6.  Exhibits and Reports on Form 8-K

(a)   Exhibits

        Exhibit 27 - Financial Data Schedule

(b)   Reports on Form 8-K

      The Company did not file any reports on Form 8-K during the quarter ending
September 30, 2000.







<PAGE>



                                   SIGNATURES

Pursuant to the  requirements  of Section 12 of the  Securities  Exchange Act of
1934, the registrant has duly caused this registration statement to be signed on
its behalf by the undersigned, thereunto duly authorized


                           L.A.M. PHARMACEUTICAL CORP.



                              By:  /s/ Alan Drizen
                                  --------------------------------------------
                                      Alan Drizen, Chief Executive Officer


                              By:  /s/ Avi Bodenstein
                                  --------------------------------------------
                                     Avi Bodenstein, Principal Financial Officer


                              Date:     November 16, 2000