U.S. 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 November 31, 1994.

[ ]  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: 0-8880

                      MARITIME TRANSPORT & TECHNOLOGY, INC.
             (Exact name of registrant as specified in its charter)


                              New York 11-2196303
                   (State of jurisdiction of (I.R.S. Employer
               incorporation or organization) Identification No.)


                      108 Main St. Stamford, NY, 12167-1137
                    (Address of principal executive offices)


                                  212-425-3158
              (Registrant's telephone number, including area code)


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  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

        The Company had  38,484,549 shares of common stock outstanding

<PAGE>


                                     PART I
                              FINANCIAL INFORMATION

        Item 1. Financial Statements

     The condensed financial  statements for the periods ended November 31, 1994
included  herein have been prepared by Maritime  Transport &  Technology,  Inc.,
(the  "Company")  without  audit,  pursuant to the rules and  regulations of the
Securities  and  Exchange  Commission  (the  Commission").  In  the  opinion  of
management,  the statements include all adjustments  necessary to present fairly
the financial  position of the Company as of November 31, 1994,  and the results
of operations and cash flows for the three month periods ended November 31, 1993
and 1994.

     The  Company's  results  of  operations  during  the  three  months  of the
Company's  fiscal  year are not  necessarily  indicative  of the  results  to be
expected for the full fiscal year.

     The  financial  statements  included  in  this  report  should  be  read in
conjunction  with the  financial  statements  and notes thereto in the Company's
Annual Report on Form 10-K for the fiscal years ended May 31, 1993 and 1994.



<PAGE>

<TABLE>
<CAPTION>

                                  MARITIME TRANSPORT & TECHNOLOGY, INC.
                                      (A Development Stage Company)
                                               BALANCE SHEET
                                                                                             November 30,
                                                                                May 31,          1994
                                                                                  1994         Unaudited
                                  Assets

Current assets
<S>                                                                               <C>                 <C> 
Cash                                                                              $-0-                $-0-




Total assets                                                                      $-0-                $-0-
                                   Liabilities and Stockholders' Equity
Current liabilities
  Accrued taxes                                                                   $-0-                $-0-


Capital stock
  Common stock-authorized 80,000,000 common shares, par value $.01 each,
at May 31, 1994 and November 30, 1994 the shares outstanding was
38,484,549 and 38,484,549 respectively.                                              384,845       384,845
  Additional paid in capital                                                             -0-           -0-
  Deficit accumulated during development stage                                     (384,845)     (384,845)
Total stockholders' equity                                                          -0-           -0-     
Total liabilities and stockholders' equity                                         $-0-          $-0-     


</TABLE>
<PAGE>

<TABLE>
<CAPTION>

                     MARITIME TRANSPORT & TECHNOLOGY, INC.
                         (A Development Stage Company)
                            STATEMENT OF OPERATIONS
                                                               From the date of
                              For the six      For the six      reorganization
                              months ended     months ended   (June 1, 1994) to
                              November 30,     November 30,      November 30,
                                  1993             1994              1994
                               Unaudited        Unaudited         Unaudited
<S>                                     <C>              <C>                <C> 
Income                                  $-0-             $-0-               $-0-
Less cost of goods sold                  -0-              -0-                -0-
Gross profit                             -0-              -0-                -0-

Operations:
  General and                            -0-              -0-                -0-
administrative
  Depreciation                           -0-              -0-                -0-
and
amortization
  Total expense                          -0-              -0-                -0-

Net Profit (Loss)                       $-0-             $-0-               $-0-


Net income (loss)  per                 $0.00            $0.00              $0.00
share
Number of shares                 38,484,549       38,484,549          38,484,549
outstanding



</TABLE>
<PAGE>


<TABLE>
<CAPTION>

                                      MARITIME TRANSPORT & TECHNOLOGY, INC.
                                          (A Development Stage Company)
                                             STATEMENT OF CASH FLOWS
                                                                                                 For the period
                                                                                                      from
                                                                 For the six     For the six     reorganization
                                                                months ended    months ended   (June 1, 1994) to
                                                                November 30,     November 30,     November 30,
                                                                     1993            1994             1994
                                                                  Unaudited       Unaudited        Unaudited
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                                                                       <C>             <C>                <C> 
  Net loss                                                                $-0-            $-0-               $-0-
  Depreciation                                                             -0-             -0-                -0-
Adjustments
  Accrued expenses
  TOTAL CASH FLOWS FROM OPERATIONS                                         -0-             -0-                -0-


NET INCREASE (DECREASE) IN CASH                                            -0-             -0-                -0-
CASH BALANCE BEGINNING OF PERIOD                                           -0-             -0-                -0-
CASH BALANCE END OF PERIOD                                                $-0-            $-0-               $-0-

</TABLE>
<PAGE>


<TABLE>
<CAPTION>

                                   MARITIME TRANSPORT & TECHNOLOGY, INC.
                                       (A Development Stage Company)
                                     STATEMENT OF STOCKHOLDERS EQUITY
                                                            Additional         Accumulated
                        Common Stock        Common            paid in        deficit during
                                             Stock            capital       development stage     Total 
<S>         <C>             <C>              <C>                  <C>           <C>                <C> 
June        1, 1994         38,484,549       384,845              $-0-          $(384,845)         $-0-

Unaudited
November 30, 1994           Net profit                                                  -0-           -0-  
                                        
November 30, 1994          38,484,549          $384,845              $-0-           $(384,845)       $-0-  






</TABLE>
<PAGE>

       1. BASIS OF PRESENTATION



     The accompanying  unaudited  financial  statements of Maritime  Transport &
Technology,  Inc. (the  "Company"),  reflect all  adjustments  which are, in the
opinion of  management,  necessary  to a fair  statement  of the  results of the
interim  periods  presented.  All such  adjustments  are of a  normal  recurring
nature. The financial statements should be read in conjunction with the notes to
financial  statements contained in the Company's Annual Report on Form 10KSB for
the year ended November 30, 1994.



       2. NET INCOME PER SHARE



     Primary  earnings  per share  are  based on the  total  number of shares of
common stock outstanding on November 30, 1994. On that date, the total number of
shares of common stock outstanding was 38,484,549.



       3. ACCOUNTING FOR INCOME TAXES



     The Company  follows  Statement of Financial  Accounting  Standards  (SFAS)
No.109,  "Accounting  for Income  Taxes," which  requires an asset and liability
approach of accounting for income taxes. Deferred tax assets and liabilities are
computed  annually for  differences  between  financial  statement basis and tax
basis  of  assets,   liabilities  and  available  general  business  tax  credit
carry-forwards.  A valuation  allowance is established  when necessary to reduce
deferred tax assets to the amount expected to be realized.



       4. MARKETABLE SECURITIES



     The Company adopted Financial Accounting Standards Board ("FASB") Statement
No. 115,  "Accounting  for Certain  Investments in Debt and Equity  Securities",
which  requires  that  investments  in  equity   securities  that  have  readily
determinable  fair values and  investments  in debt  securities be classified in
three categories: held-to-maturity, trading and available-for-sale. Based on the
nature of the assets held by the Company and Management's  investment  strategy,
the Company's investments have been classified as available-for-sale. Management
determines  the  appropriate  classification  of debt  securities at the time of
purchase and reevaluates such designation as of each balance sheet date.



     Securities classified as  available-for-sale  are carried at estimated fair
value, as determined by quoted market prices,  with unrealized gains and losses,
net of tax,  reported  in a  separate  component  of  stockholders'  equity.  At
November  30,  1994,  the Company had no  investments  that were  classified  as
trading or held-to-maturity as defined by the Statement.



       NOTE 5. COMMITMENTS AND CONTINGENCIES



     At  November  30,  1994,   the  Company  has  no  pending   commitments  or
contingencies.

 



     The following is a summary of cash, cash equivalents and available-for-sale
securities by balance sheet classification at November 30, 1994:
<TABLE>

                                                     Gross             Gross                     Estimated
                                                     Unrealized        Unrealized                Fair
         `                          Cost             Gains             Gains                     Value
                                    ------           -------------     -------------             -------------
<S>                                 <C>                                                          <C> 
Cash                                $-0-                                                         $-0-
Total cash and

         cash equivalents           $-0-                                                         $-0-                      
 

</TABLE>
<PAGE>

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



                             MANAGEMENT'S DISCUSSION AND ANALYSIS

                       OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

                       for the six months ended November 30, 1994 and 1995

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



     Except for the description of historical facts contained herein,  this Form
10Q-SB  contains  certain  forward  looking  statements  that involve  risks and
uncertainties as detailed herein and from time to time in the Company's  filings
with the Securities and Exchange  Commission and elsewhere.  Such statements are
based on  management's  current  expectations  and are  subject  to a number  of
factors and uncertainties which could cause actual results to differ materially

     from those  described  in the  forward-looking  statements.  These  factors
include,  among  others,  the  Company's  fluctuations  in sales  and  operating
results,   risks  associated  with  international   operations  and  regulatory,
competitive and contractual risks and product development.

 

     Results  of  operations  for the six  months  ended  November  30,  1995 as
compared to the six months ended November 30, 1994


     Revenues were $0 for the six months ended  November 30, 1995 as compared to
$0 for the six months ended  November 30, 1994.  Costs of goods sold for the six
months ended  November  30,  1995,  were $0 as compared to $0 for the six months
ended November 30, 1994  representing a cost of goods sold  percentage of 0% for
the three months ended  November 30, 1995 as compared to 0% for the three months
ended  November 30,  1994.  The cost of goods sold  percentage  during the first
quarter of fiscal 1995  remains  approximately  consistent  with the  percentage
during the first quarter of fiscal 1994.



     General and administrative costs for the six months ended November 30, 1995
were $0, an increase of 0% over expenses of $0 for the six months ended November
30, 1994.



     Liquidity  and  capital  resources  as of the end of the six  months  ended
November 30, 1995.

 

     The  Company's  cash  balance was $-0- and  working  capital was $-0- as at
November 30 , 1995. The Company's  primary  short-term needs for capital,  which
are  subject  to  change,  are for  its  continued  existence  and to find a new
business purpose.



     Income  tax:  As of  November  30 ,  1995,  the  Company  has  a  tax  loss
carry-forward  of  $384,845.  The  Company's  ability to utilize  its tax credit
carry-forwards in future years will be subject to an annual limitation  pursuant
to the "Change in  Ownership  Rules" under  Section 382 of the Internal  Revenue
Code of 1986, as amended. However, any annual limitation is not expected to have
a material  adverse  effect on the  Company's  ability to utilize its tax credit
carry-forwards.

 

     The Company  believes that its available cash and cash from  operations and
the  willingness  of managment to provide for the cash needs of the Company will
be  sufficient  to satisfy  its  funding  needs for at least the next 12 months.
Thereafter,  if cash generated from  operations is  insufficient  to satisfy the
Company's working capital and capital expenditure requirements,  the Company may
be required to sell additional  equity or debt  securities or obtain  additional
credit facilities.  There can be no assurance that such financing,  if required,
will be available on satisfactory terms, if at all.

<PAGE>

PART II

                                OTHER INFORMATION

Item 1. Legal Proceedings.
No legal proceedings are pending against the Company.

Item 2. Changes in Securities
None.

Item 3. Defaults upon Senior Securities
None.

Item 4. Submission of Matters to a Vote of Security-Holders
None.


<PAGE>






                                   SIGNATURES

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


MARITIME TRANSPORT & TECHNOLOGY, INC.


/s/ George Bergleitner
Mr. George Bergleitner,
President


Dated:   May 2, 1998








<PAGE>