--------------------------------------------------------------------------------
                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(Mark one)

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

         For the quarterly period ended MARCH 31, 1998

                                       OR

/  /     TRANSITION  REPORT  PURSUANT  TO SECTION 13 OR 15(d) OF THE  SECURITIES
         EXCHANGE ACT OF 1934

         For the transition period from ________to________

                           COMMISSION FILE NO. 0-21324

                             TRINITECH SYSTEMS, INC.
             (Exact name of registrant as specified in its charter)

            NEW YORK                                   06-1344888
     (State of incorporation)            (I.R.S. Employer identification number)

333 LUDLOW STREET, STAMFORD, CONNECTICUT           06902
(Address of principal executive offices)         (Zip Code)

       Registrant's telephone number, including area code: (203) 425-8000


            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 / /


8,663,530  shares of Common  Stock were issued and  outstanding  as of April 24,
1998.


<PAGE>
Trinitech Systems, Inc.

  FORM 10-Q
                For the quarterly period ended March 31, 1998


CONTENTS                                                                   PAGE


  PART I.    FINANCIAL INFORMATION

  Item 1.    Financial Statements

             Condensed consolidated balance sheets at March 31, 1998
             (unaudited) and December 31, 1997                               3

             Condensed consolidated statements of operations (unaudited)
             for the three months ended March 31, 1998  and 1997             4

             Condensed consolidated statements of cash flows
             (unaudited) for the three months ended
             March 31, 1998 and 1997                                         5

             Notes to condensed consolidated financial statements
             (unaudited)                                                     6

Item 2.    Management's Discussion and Analysis of Financial
           Condition and Results of Operations                               9

PART II.    OTHER INFORMATION                                               14

                                       2

<PAGE>
                     TRINITECH SYSTEMS, INC. AND SUBSIDIARY

                      CONDENSED CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>

                                                                                        March 31,              December 31,
ASSETS                                                                                    1998                      1997
------                                                                                 ----------              --------------
                                                                                       (Unaudited)                      (a)
CURRENT ASSETS:
<S>                                                                                     <C>                       <C>       
    Cash and cash equivalents                                                           $1,112,143                $2,141,307
    Accounts receivable - less allowance of $144,000 and $144,000                        1,601,286                 1,859,301
    Inventories - less allowance of $82,000 and $82,000                                  1,328,484                 1,208,373
    Prepaid expenses and other current assets                                              257,833                   102,500
    Receivable from officers                                                                91,713                    91,597
                                                                                        ----------                ----------

                      Total Current Assets                                               4,391,459                 5,403,078

EQUIPMENT - net of accumulated depreciation of $842,508 and $714,759                     1,541,651                 1,361,707

OTHER ASSETS  - net of accumulated amortization of $1,141,408
    and $1,040,952                                                                         913,938                   782,478
                                                                                        ----------                ----------
                      TOTAL                                                             $6,847,048                $7,547,263
                                                                                        ==========                ==========

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
    Accounts payable                                                                    $  760,635               $   927,672
    Accrued expenses                                                                       240,333                   389,174
    Current portion of term loans payable                                                   43,773                    47,709
    Advance billings                                                                       227,802                   171,414
    Payroll and other taxes payable                                                        117,740                    63,706
                                                                                        ----------                ----------
                      Total Current Liabilities                                          1,390,283                 1,599,675
TERM LOANS PAYABLE                                                                          36,904                    45,855
                                                                                        ----------                ----------
                      Total Liabilities                                                  1,427,187                 1,645,530
                                                                                        ----------                ----------

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY:
    10% Convertible preferred stock - par value $1.00; 1,000,000 shares authorized;
     -0- issued and outstanding                                                               -                         -
    Common stock - par value $.001; 15,000,000 authorized; 8,663,530 and
      8,524,530 shares issued and outstanding                                                8,664                     8,525
    Additional paid-in capital                                                          10,884,499                10,419,763
    Accumulated deficit                                                                 (5,037,555)               (4,096,555)
    Due from officers                                                                     (435,747)                 (430,000)
                                                                                        ----------                ----------
                      Total Stockholders' Equity                                         5,419,861                 5,901,733
                                                                                        ----------                ----------
                      TOTAL                                                             $6,847,048                $7,547,263
                                                                                        ==========                ==========
</TABLE>

(a) The balance  sheet at December  31, 1997 has been  derived  from the audited
financial statements at that date.

See accompanying notes.

                                       3
<PAGE>
                     TRINITECH SYSTEMS, INC. AND SUBSIDIARY

           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)


                                                    Three            Three
                                                Months Ended     Months Ended
                                                  March 31,       March 31,
                                                     1998           1997
                                                  ---------      ----------
REVENUES:
    Recurring contracts                             $631,475         $259,433
    Sales                                            408,801        1,550,144
                                                   ---------        ---------
                      Total Revenues               1,040,276        1,809,577

COST OF RECURRING CONTRACTS and SALES                395,463          831,431
                                                   ---------        ---------
GROSS PROFIT                                         644,813          978,146
                                                   ---------        ---------
EXPENSES:
    Selling, general and administrative            1,526,375        1,041,164
    Depreciation                                      80,881           38,164
    Amortization                                       4,595            9,210
                                                   ---------        ---------
                      Total Expenses               1,611,851        1,088,538
                                                   ---------        ---------

LOSS FROM OPERATIONS                                (967,038)        (110,392)

OTHER INCOME - NET                                    26,038           24,993
                                                   ---------        ---------
NET LOSS                                           $(941,000)        $(85,399)
                                                   =========        =========
NET LOSS PER COMMON SHARE                           ($0.11)          ($0.01)
                                                   =========        =========
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING         8,594,030        7,777,530
                                                   =========        =========

See accompanying notes.

                                       4
<PAGE>
                     TRINITECH SYSTEMS, INC. AND SUBSIDIARY

           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

<TABLE>
<CAPTION>

                                                               Three              Three
                                                           Months Ended         Months Ended
                                                             March 31,           March 31,
                                                                1998                1997
                                                           ------------         ------------

<S>                                                         <C>                  <C>
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES           $(900,546)            $713,709

INVESTING ACTIVITIES:
    Payments for equipment, net of retirements                 (348,689)            (128,546)
    Payments for other assets                                  (231,917)             (80,228)
                                                            ------------         ------------
              Net cash used in investing activities            (580,606)            (208,774)
                                                            ------------         ------------
FINANCING ACTIVITIES:
    Repayment of borrowings                                     (12,887)            (751,422)
    Issuance of common stock                                    464,875            3,527,500
                                                            ------------         ------------
              Net cash provided by financing activities         451,988            2,776,078
                                                            ------------         ------------
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS             (1,029,164)           3,281,013

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                2,141,307            1,198,730
                                                            ------------         ------------
CASH AND CASH EQUIVALENTS, END OF PERIOD                    $ 1,112,143          $ 4,479,743
                                                            ============         ============
</TABLE>

See accompanying notes.

                                       5
<PAGE>
TRINITECH SYSTEMS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

1.       BASIS OF PRESENTATION

         The accompanying  unaudited condensed consolidated financial statements
         have been prepared in accordance  with  generally  accepted  accounting
         principles for interim financial  information and with the instructions
         to Form 10-QSB and ITEM 310 (b) of Regulation S-B. Accordingly, they do
         not include all of the information and footnotes  required by generally
         accepted accounting  principles for complete financial  statements.  In
         the opinion of management,  all adjustments  considered necessary for a
         fair  presentation  have been included.  All such  adjustments are of a
         normal recurring  nature.  Operating results for the three month period
         ended March 31, 1998 are not necessarily indicative of the results that
         may be expected  for the year ending  December  31,  1998.  For further
         information,   refer  to  the  consolidated  financial  statements  and
         footnotes  thereto  included  in the  Company's  annual  report on Form
         10-KSB for the year ended December 31, 1997.

2.      INVENTORIES

         Inventories  are stated at the lower of cost  (first-in,  first-out) or
         market. Inventories consisted of the following:

                                             March 31,        December 31,
                                              1998              1997
                                           -----------        ------------

          Parts                             $892,098          $  875,822
          Finished goods                     518,386             414,551
          Less allowance for obsolescence     82,000              82,000
                                          ----------          ----------
                        Total             $1,328,484          $1,208,373
                                          ==========          ==========

                                       6
<PAGE>
3.       EQUIPMENT

         Equipment consists of the following:

                                                   March 31,        December 31,
                                                     1998               1997
                                                  ----------        ------------

         Computer software                        $  340,964        $  331,668
         Leasehold improvements                       89,624            81,957
         Furniture and equipment                     955,553           878,518
         Subscription and service bureau equipment   998,018           784,323
                                                  ----------        ------------
                               Subtotal            2,384,159         2,076,466

         Less accumulated depreciation               842,508           714,759
                                                  ----------        ------------
                               Total              $1,541,651        $1,361,707
                                                  ==========        ============

4.       PER SHARE INFORMATION

In 1997,  the Financial  Accounting  Standards  Board issued  Statement No. 128,
"Earning Per Share". Statement 128 replaced the calculation of primary and fully
diluted  earnings per share with basic and diluted  earnings  per share.  Unlike
primary  earnings  per share,  basic  earnings  per share  excludes any dilutive
effects of options,  warrants and convertible  securities.  Diluted earnings per
share is very similar to the  previously  reported  fully  diluted  earnings per
share.  Diluted  earning per share is not presented in either period because the
effect of the Company's  common stock  equivalents  (employee  stock options and
warrants) is  antidilutive.  All earnings per share amounts for all periods have
been presented, and restated to conform to the Statement 128 requirements.

5.       COMMITMENTS

In January 1998,  the Company  entered into a seven and one-half year  operating
lease for its  facilities in New York City.  Monthly  payments  under such lease
aggregate  approximately  $12,100  for the first  five  years and  approximately
$12,500 thereafter.


                                       7
<PAGE>
6.       IMPACT OF RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In October 1997, the American  Institute of Certified Public  Accountants issued
Statement of Position 97-2,  "Software  Revenue  Recognition,"  which supercedes
SOP-91-1 and clarifies the existing guidance  regarding  revenue  recognition of
certain computer  software  products.  The Company adopted SOP 97-2 in the first
quarter of 1998 and the effect is not material to the  Company's  operations  or
financial position taken as a whole.

In June 1997, the Financial Accounting Standards board issued FASB Statement No.
131,  "Disclosures  about  Segments of an Enterprise  and Related  Information."
Statement  131 requires that segment data be disclosed  based on how  management
makes  decisions  about  allocating  resources to segments and  measuring  their
performance.  While the Company is studying the  application  of the  disclosure
provisions, it does not expect this statement to materially affect its financial
position or results of  operations.  This  Statement is  effective  for the year
ended December 31, 1998.



                                       8
<PAGE>
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

The  management  discussion  and analysis in this Form 10-QSB  contains  certain
forward-looking  statements regarding the Company's future plans, objectives and
expected performance. Those statements are based on assumptions that the Company
believes  are  reasonable,  but  are  subject  to a  wide  range  of  risks  and
uncertainties,  and a number of factors could cause the Company's actual results
to differ  materially  from those  expressed in the forward  looking  statements
referred to above. These factors include, among others, the Company's ability to
further  penetrate  the  financial  services  market  with a full  range  of the
Company's  products  and the  highly  competitive  market in which  the  Company
operates.

The following  discussion and analysis  should be read in  conjunction  with the
consolidated  financial  statements  and notes thereto.  Historical  results and
percentage relationships are not necessarily indicative of the operating results
for any future period.

The  Company  develops  and  markets  advanced  electronic  trading  systems  to
brokerage firms,  international  banks and global exchanges trading in equities,
futures & options,  and currencies.  The Company's NYFIX Network, a combined FIX
and Exchange Access Network,  enables users to electronically  communicate trade
data  among the  buy-side,  sell-side,  and  exchange  floor  environments.  The
Company's goal is to become the leading  provider of real-time  electronic trade
entry and routing systems to the global financial services industry. The Company
is headquartered in Stamford,  Connecticut and maintains operations in New York,
Chicago, and London.

The Company  commenced its present  business  operations in January 1991 through
the acquisition of a software license for its  Guided-Input(R)  Touchpad system.
The Company is in process of transforming  its business from that of traditional
capital  equipment  sales  to that  of  licensing-based  and  subscription-based
revenue.  The Company is currently  offering its trading products  together with
linkage through its data-center.  Subscription  revenue  contracts are generally
for an  initial  period  of one year  with one to three  year  renewal  periods.
Initial annual  revenues  range from $15,000 to over $100,000 per contract.  The
Company begins  recording  subscription  revenue once  installation is complete.
Most contracts provide the customer with a basic system or  infrastructure,  via
the  Company's  data-center  and are  entered  into  by the  customer  with  the
intention to expand the level of services  subscribed  to, once the basic system
and infra-structure is operational.  Although subscription-based revenue has the
short-term  negative impact of reduced  revenues in the early stage,  management
believes  that the change  will have a long-term  positive  impact on the future
revenue  growth of the  Company.  Management  is of the opinion that this change
will  result in  additional  new  orders  and  increased  market  share  that it
otherwise  would not have had, as well as longer-term  predictable  revenues per
customer.

THREE MONTHS ENDED MARCH 31, 1998 COMPARED TO THREE MONTHS ENDED MARCH 31, 1997

REVENUES

The  decrease in  revenues  for the three  months  ended March 31, 1998 over the
comparable  1997  period  was  principally  due to  the  Company's  strategy  of
transforming its operations from capital  equipment sales to subscription  based
sales,  specifically  for  the  Company's  FIXtalk  software  system.  Recurring
contracts are comprised of subscription  revenue and service revenue.  Recurring
contractual  revenue for the Company increased by 143% in the three months ended
March 31, 1998 (from  $259,433 to  $631,475)  over the  comparable  1997 period.
During the three month period ended March 31, 1998,  subscription  contracts and
service  contracts  were  approximately  53%  and 47% of  recurring  contractual
revenue,  respectively,  as  compared to 10% and 90%,  respectively,  during the
three-month  period ended March 31, 1997. The increase in recurring  contractual
revenue

                                       9

<PAGE>
is due principally to the Company's strategy of transforming its operations from
capital  equipment  sales to  subscription  based sales  coupled with  increased
service  agreements.  Sales revenue is comprised of capital  equipment sales and
software sales.  Sales revenue for the Company decreased by approximately 74% in
the three  months  ended March 31, 1998 over the  comparable  1997 period  (from
$1,550,144  to  $408,801).  During the three month  period ended March 31, 1998,
capital  equipment sales and software revenue were  approximately 44% and 56% of
sales revenues, respectively as compared to 64% and 36%, respectively during the
three  month  period  ended  March 31,  1997.) The  decrease  in sales  (capital
equipment  and software) is due to the Company's  strategy of  transforming  its
operations from capital  equipment sales to  subscription  based sales.  Revenue
from export sales approximated $8,000 (less than 1% of revenue) during the three
month period ended March 31, 1998 as compared to  approximately  $1,221,000 (67%
of revenue) during the comparable  period in 1997.  Foreign  operation  revenues
amounted to  approximately  $405,000 and $640,000  for the  three-month  periods
ended March 31, 1998 and 1997, respectively.

COST OF RECURRING CONTRACTS AND SALES AND GROSS PROFIT

The Company's cost of recurring contracts and sales is principally  comprised of
labor,  materials,  overhead,  amortization of capitalized  product  enhancement
costs and  depreciation  of  subscription  based  equipment.  Gross  profit as a
percentage of total revenue was approximately 62% and 54% during the three-month
periods  ended  March 31,  1998 and 1997,  respectively.  The  increase in gross
profit percentage experienced by the Company during the three month period ended
March 31,  1998  principally  resulted  from an increase in the amount of higher
margin subscription  contracts and service fees on existing contracts which were
partially  offset by lower margins  associated  with the Company's touch vending
terminal products. The Company obtains its materials and supplies from a variety
of vendors in the U.S. and Far East.  Included in cost of sales is  amortization
expense for product  enhancement costs of approximately  $96,000 and $79,500 for
the three  month  periods  ended  March 31,  1998 and 1997,  respectively.  Also
included  in cost of  sales  is  depreciation  expense  for  subscription  based
equipment  of  approximately  $55,000 for the three month period ended March 31,
1998.

SELLING, GENERAL AND ADMINISTRATIVE

During the three months ended March 31, 1998, selling general and administrative
expenses  increased  47% (from  $1,041,164 to  $1,526,375)  when compared to the
three  months  ended  March 31,  1997.  Such  increases  reflect  the  continued
expansion of the development teams both in the U.S. and in London. The expansion
in development  efforts relates to the Company's plans of providing an increased
number  of  new  additional   services.   These  services   relate  to  offering
subscription and transaction based order-routing, via the Company's data-center,
to multiple exchange-floors and between the "Buy-side" and "Sell-side" industry.
As a result, the Company experienced increases in salaries and related personnel
costs, travel expenses, recruiting fees and various office expenses. The Company
added personnel principally to its technical programming,  service,  support and
sales  staff.  The  Company's  recruitment  effort,  which  began  during  1993,
continues to strengthen the Company's infrastructure and position the Company to
respond to  increasing  market and revenue  opportunities.  Included in selling,
general & administrative expenses is rent expense for the Company's offsite data
center  and  equipment  in such data  center of  approximately  $72,900  for the
three-month  period ended March 31, 1998. Also included in selling,  general and
administrative

                                       10
<PAGE>
expenses is utility expense of approximately $67,900 for frame relay circuits to
various stock exchange floors for the  three-month  period ended March 31, 1998.
The Company, during the past several years, has committed considerable resources
to  developing  a variety  of "trader  desk-top"  and  "exchange-floor"  trading
systems.  Management  believes  that the  investment in  development  of the new
data-center,  and its  services,  are  designed to better  leverage the existing
products together with providing  additional sources of revenue. The Company has
continued its marketing programs in the first quarter of 1998 primarily focusing
on public relations  activities,  production of various product  brochures,  and
representation  at  technological  exhibitions.  Research and  development  (new
explorative  research)  expenses  for the three  months ended March 31, 1998 and
1997 were  approximately  $168,600  and $61,600,  respectively,  (an increase of
approximately  174%) and are  included  in selling,  general and  administrative
expenses.

OTHER INCOME

Other  income  consists  principally  of interest  earned on cash  balances  and
sublease income earned. Interest income in the three months ended March 31, 1998
and 1997  approximated  $26,000  and  $15,000,  respectively.  The  increase  in
interest income principally results from interest earned on higher cash balances
maintained  by the Company  during the three months  ended March 31,  1998.  The
Company  previously  leased a portion of its corporate  office  facility under a
three-year  sublease  which  expired on April 30,  1997.  Due to the  continuing
expansion of operations,  (See "Selling,  General and Administrative" above) the
Company decided not to renew the sublease and  incorporated  such space into its
existing  corporate  facility.  Sublease  rental  income earned during the three
months ended March 31, 1997 approximated $9,800.

NET LOSS

Net loss for the three  months  ended  March 31,  1998 was  $941,000  ($0.11 per
share) as  compared  to a net loss of  $85,399  ($0.01  per share) for the three
months ended March 31, 1997. The increase in net loss, principally resulted from
1) decrease in "capital sales" type revenue resulting from the Company moving to
a  subscription-based  revenue  model which  presently  is in its early stage of
growth,  and 2) increase in selling,  general and administrative  expenses.  See
"Revenues",  "Cost of sales and Service and Gross Profit" and "Selling,  General
and Administrative" above.

Management  has made a  considerable  effort with respect to an expansion of its
operations,  development  of various  trading  systems  which  began in 1993 and
continues   into  1998  and  changes  to  its  business   model  to  that  of  a
subscription-based product offering. The Company believes that this expansion of
personnel,  facilities,  product  portfolio  and  subscription-based  model will
better position the Company and facilitate its future growth.  However, in spite
of its optimism,  management is also  cautioning  that the Company's  aggressive
conversion  from a capital  sales model to  subscription-based  model is causing
revenue recognition from subscription-based  orders to be realized over a longer
period of time than the previous capital sales model.


                                       11
<PAGE>
LIQUIDITY AND CAPITAL RESOURCES

The Company's  primary  source of liquidity has been equity  capital.  Since the
commencement of operations, the Company has raised approximately $9.8 million of
working capital through  various  private  placements of its securities.  During
March 1997,  the  Company  completed a private  placement  of 800,000  shares of
Common  Stock  at a  price  of  $4.50  per  share,  for an  aggregate  value  of
$3,600,000.  Costs related to this offering  amounted to  approximately  $85,000
resulting in net proceeds to the Company of approximately  $3,515,000.  At March
31, 1998, cash balances  decreased to $1,112,143 from $2,141,307 at December 31,
1997.

The Company's current assets at March 31, 1998 exceeded its current  liabilities
by  approximately  $3 million.  The Company at March 31, 1998 had long-term debt
totaling  approximately  $93,600 which  represents  secured term loans (three at
March 31,  1998) on the  purchase of  development  equipment.  Interest on these
loans vary from 7.95% to 9.0%. In addition,  at March 31, 1998,  the Company had
no material  commitments for capital  expenditures or inventory  purchases.  The
Company has available a maximum one million dollar bank line of credit  facility
for the purpose of financing accounts receivable. At March 31, 1998, the Company
had not drawn down on the line of credit facility.  The line of credit, which is
secured by accounts receivable and inventory, expires on June 30, 1999. The line
of credit is  subject to  certain  limitations  on the  accounts  receivable  as
defined in the line of credit  agreement.  As of April 30, 1998, the Company had
approximately $500,000 available on its line of credit facility. Interest on the
line of credit is based on the  bank's  prime  rate plus one  percent.  The bank
agreements and line of credit agreement require the Company, among other things,
to maintain minimum tangible net worth and a minimum current ratio.

The Company  believes  that with its available  capital,  including the proceeds
from the March 7, 1997 private  placement,  the line of credit  facility and its
intention to finance future equipment purchases it will be able to fund its cash
needs through the end of 1998.  The Company  intends to  internally  finance its
continuing research and development activities.  If and when used, the Company's
line of credit facility is primarily  utilized to finance  equipment  purchases.
The Company  intends to reduce its existing line of credit  facility and finance
the equipment for its  subscription  contracts  and data center  through  longer
term  equipment  financing  arrangements.   The  Company  has  held  preliminary
conversations  with financial  institutions  for such financing.  The Company is
considering  numerous  alternatives to finance its anticipated  sales growth and
growing infrastructure.  The Company's financial requirements and its ability to
meet them  thereafter will depend largely on its future  financial  performance.
However,  in the event the  Company's  operations  do not  generate  cash to the
extent currently  anticipated by management of the Company and grow more rapidly
than anticipated, it is possible that the Company could require additional funds
beyond 1998. At this time, the Company does not know what sources,  if any would
be available to it for such funds, if required.

In addition,  at March 31, 1998,  the Company has warrants  outstanding  for the
purchase of 263,837  shares of its Common  Stock.  Assuming  the exercise of all
such outstanding Warrants,  the Company would receive approximately  $926,600 in
gross proceeds.

WORKING CAPITAL

At March 31, 1998 and  December  31,  1997,  the Company had working  capital of
approximately  $3,000,000 and $3,803,000,  respectively.  The Company's  present
capital  resources  include

                                       12
<PAGE>
proceeds from its March 7, 1997 private  placement of Common Stock and available
borrowing  capacity  under  its  bank  credit  facility.  The  Company  has held
preliminary  conversations with financial  institutions to finance equipment for
its  subscription  contracts and data center.  Through  March 31, 1998,  139,000
stock  options and  warrants to purchase  common stock were  exercised  with the
Company receiving proceeds of approximately $465,000.

CASH USED IN OPERATING ACTIVITIES

During the three months ended March 31, 1998,  net cash used in  operations  was
approximately  $901,000 as compared to cash  provided by  operations  in for the
three-month  ended  March 31,  1997 of  approximately  $714,000.  The decline is
primarily   attributable  to  the  Company's  increasing  losses  as  previously
discussed.

CASH USED IN INVESTING ACTIVITIES

During  the  three  months  ended  March  31,  1998 and  1997,  net cash used in
investing activities was approximately $580,600 and $209,000,  respectively, and
principally  represents  payments for the  purchases  of equipment  and payments
related to product enhancement costs for the Company's product portfolio.

PROCEEDS FROM FINANCING ACTIVITIES

During the three months ended March 31, 1998 and 1997,  proceeds from  financing
activities  were  approximately  $452,000  and  $2,776,000,   respectively.  The
decrease is primarily  attributable to there being no equity offering during the
three  months  ended March 31, 1998 as there was in the three months ended March
31, 1997.

YEAR 2000 COMPLIANCE

The Company  believes its  information  systems are in compliance with year 2000
information technology requirements.

SEASONALITY

The Company  believes  that its  operations  are not  significantly  effected by
seasonality.

NEW ACCOUNTING PRONOUNCEMENTS

In October 1997, the American  Institute of Certified Public  Accountants issued
Statement of Position 97-2,  "Software  Revenue  Recognition,"  which supercedes
SOP-91-1 and clarifies the existing guidance  regarding  revenue  recognition of
certain computer  software  products.  The Company adopted SOP 97-2 in the first
quarter of 1998 and the effect is not material to the  Company's  operations  or
financial position taken as a whole.

In June 1997, the Financial Accounting Standards board issued FASB Statement No.
131,  "Disclosures  about  Segments of an Enterprise  and Related  Information."
Statement  131

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<PAGE>
requires that segment data be disclosed based on how management  makes decisions
about allocating  resources to segments and measuring their  performance.  While
the Company is studying the  application of the disclosure  provisions,  it does
not expect this statement to materially affect its financial position or results
of operations. This Statement is effective for the year ended December 31, 1998.


PART II  OTHER INFORMATION


Item 1.   LEGAL PROCEEDINGS

        Not applicable


Item 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS.

       Not applicable


Item 3.   DEFAULTS UPON SENIOR SECURITIES

      Not applicable


Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

     Not applicable

Item 5.  OTHER INFORMATION

 Not applicable

Item 6.  EXHIBITS AND REPORTS ON FORM 8-K.

(a)  EXHIBITS

     27  Financial  Data  Schedule,  which is  submitted  electronically  to the
         Securities and Exchange  Commission for  information  purposes only and
         not filed.

(b)     REPORTS ON FORM 8-K

None

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<PAGE>
                                   SIGNATURES

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


                                       Trinitech Systems, Inc.
                                          (Registrant)


                                       By: /s/ Peter Kilbinger Hansen
                                           ------------------------------
                                           Peter Kilbinger Hansen
                                           Chairman of the Board
                                              and President
                                           (Chief Executive Officer)


                                       By: /s/ Kevin C. Cassidy
                                           ------------------------------
                                           Kevin C. Cassidy
                                           Chief Financial Officer and Secretary
                                           (Principal Financial and Accounting
                                           Officer)




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