FORM 10-QSB/A
                            AMENDMENT NO. 1
                         DATED JANUARY 14, 1997 
 

                      SECURITIES AND EXCHANGE COMMISSION

                           WASHINGTON, D. C. 20001

                  QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
                    OF THE SECURITIES EXCHANGE ACT OF 1934

FOR QUARTER ENDED JUNE 30, 1996                   COMMISSION FILE NUMBER 07320


                                 FARM FISH, INC.

A MISSISSIPPI CORPORATION                              E. I. NUMBER 64-0474591


                              Post Office Box 23109
                         Jackson, Mississippi 39225-3109

                         Telephone Number (601) 354-3801

Check whether the issuer (1) has filed all reports required to be filed by 
Section 13 or 15 (d) or the Exchange Act during the past 12 months (or 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

State the number of shares outstanding of each of the issuers classes of 
common equity, as of the latest purchased date.

CLASS OUTSTANDING AS OF JUNE 30, 1996                         2,688,605
Common Stock, No Par Value                                 Number of Shares

<PAGE>
                                FARM FISH, INC.

                                    INDEX


                                                                  PAGE

PART I     FINANCIAL INFORMATION

           Consolidated Condensed Balance Sheets
             June 30, 1996 and December 31, 1995                     1

           Consolidated Condensed Statements of Operations
             Three Months and Six Months Ended
             June 30, 1996 and 1995                                  2

           Consolidated Condensed Statements of Cash Flows
             Six Months Ended June 30, 1996 and 1995                 3

           Notes to the Consolidated Condensed Financial
             Statements                                              4  

           Management's Discussion and Analysis of Financial
             Condition and Results of Operations                    5,6


PART II    OTHER INFORMATION                                         7

           EXHIBIT 27                                                8
      

<PAGE>
 
                                    - 1 -

                       PART  I     FINANCIAL INFORMATION

                                FARM FISH, INC.

                     CONSOLIDATED CONDENSED BALANCE SHEETS
                 JUNE 30, 1996 (UNAUDITED) AND DECEMBER 31, 1995

                                                     JUNE 30,        DEC. 31,
                                                       1996            1995
                                                   ------------    ----------
                                                    (UNAUDITED)      (*NOTE)
                                    ASSETS
CURRENT ASSETS
   Cash                                             $   83,387     $   22,231   
   Accounts Receivable - Net                           205,418        202,873
   Inventories - Note 2                              3,982,269      3,721,339
   Prepaid Expenses                                      8,553          7,626
                                                    ----------     ----------
   Total Current Assets                              4,279,627      3,954,069
PROPERTY, PONDS, AND EQUIPEMENT - NET                2,210,231      2,178,391

OTHER ASSETS                                           371,956        377,355
                                                    ----------     ---------- 
TOTAL ASSETS                                        $6,861,814     $6,509,815
                                                    ==========     ==========

                     LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
   Accounts Payable                                 $   33,661     $   10,801
   Advances Payable to Shareholder & 
      Current Maturities                             2,138,573      2,215,389
   Other Accrued Expenses and Payable                  329,760        112,368
                                                    ----------     ----------
   Total Current Liabilities                         2,501,994      2,338,558

LONG TERM DEBT, Less Current Maturities                370,000        570,000
DEFERRED INCOME TAXES                                  123,000        123,000

STOCKHOLDERS' EQUITY                                          
   Common Stock - without par value,
   authorized 5,000,000 shares, subscribed 
   and issued 2,688,605 shares at stated 
   value at June 30, 1996 and 2,688,605 
   shares at December 31, 1995.                      4,424,336      4,424,336

Additional Paid-In Capital                             475,776        475,776
Retained Earnings (Deficit)                         (1,033,292)    (1,421,855) 
                                                    ----------     ----------
Total Stockholders' Equity                           3,866,820      3,478,257
TOTAL LIABILITIES AND STOCKHOLERS' EQUITY           $6,861,814     $6,509,815
                                                    ==========     ==========

*See accompanying notes to consolidated condensed financial statements

                                   - 2 - 

                               FARM FISH, INC.
        
               CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
                                (UNAUDITED)
         FOR THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 1996 AND 1995

                              THREE MONTHS ENDED        SIX MONTHS ENDED
                                     JUNE 30                 JUNE 30
                            ----------------------   -----------------------
                                1996        1995         1996         1995

NET SALES                   $  885,937   $  932,601   $1,838,873   $1,742,112
OTHER INCOME                    19,770      248,542      113,874      394,821
                            ----------   ----------   ----------   ----------
                               905,707    1,181,143    1,952,747    2,136,933
COST AND EXPENSES
   Cost of Sales               610,174      743,219    1,205,624    1,333,485
   Selling, General, and 
    Administrative Expense 
    Other Than Interest         47,604       38,632       93,379       78,929
   Interest                      8,663       23,558       23,228       45,853
                            ----------   ----------   ----------   ----------
Total Cost and Expenses        666,441      805,409    1,322,231    1,458,267 
                            ----------   ----------   ----------   ----------
INCOME BEFORE INCOME TAXES     239,266      375,734      630,516      678,666

INCOME TAX EXPENSE              90,921      141,367      241,952      257,864
                            ----------   ----------   ----------   ----------
NET INCOME                  $  148,345   $  234,367   $  388,564   $  420,802
                            ==========   ==========   ==========   ==========
WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING
  (Primary and assuming 
     full Dilution)          2,688,605    2,688,605    2,688,605    2,688,605
                            ----------   ----------   ----------   ----------
NET INCOME PER SHARE        $     0.06   $     0.09   $     0.14   $     0.16
                            ==========   ==========   ==========   ==========














See accompanying notes to consolidated condensed financial statements

                                     - 3 - 

                                 FARM FISH, INC.
        
               CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)
                 FOR SIX MONTHS ENDED JUNE 30, 1996 AND 1995
                              
                                                                   
                                                         SIX MONTHS ENDED
                                                             JUNE 30,
                                                   -------------------------
                                                      1996           1995

NET CASH PROVIDED BY OPERATING ACTIVITIES          $  369,812     $  627,862

INVESTING ACTIVITIES
 Purchase of Equipment                                (31,840)       (49,443)
 Decrease (Increase) in Other Assets                        0              0
                                                   ----------     ----------
NET CASH PROVIDED (USED) IN INVESTING
 ACTIVITIES                                           (31,840)       (49,443)



FINANCING ACTIVITIES
 Proceeds from Borrowing                                    0        190,000  
 Principal Payments on Borrowing                     (300,000)      (350,730)
 Advances from Shareholders                            23,184              0
 Payments on Shareholders Advances                          0       (400,824)  
                                                   ----------     -----------
NET CASH PROVIDED (USED) IN FINANCING
  ACTIVITIES                                         (276,816)      (561,554)

INCREASE (DECREASE) IN CASH AND CASH
 EQUIVALENTS                                           61,156         16,865

Cash and Cash Equivalents at Beginning of Period       22,231         96,864
                                                   ----------     ----------
CASH AND CASH EQUIVALENTS AT END OF PERIOD         $   83,387     $  113,729   
                                                   ==========     ==========











See accompanying notes to consolidated condensed financial statements.

                                    - 4 - 

                               FARM FISH, INC.
        
             NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS



NOTE 1:          BASIS OF PRESENTATION

The accompanying unaudited consolidated condensed financial statements have 
been prepared in accordance with generally accepted accounting principles for 
interium financial information and with the instruction to Form 10-QSB and 
Rule 10-01 of Regulation S-X.  Accordingly, they do not include all of the 
information and footnotes required by generally accepted accounting 
principals for complete financial statements.  In the opinion of management, 
all adjustments (consisting of normal recurring accruals) considered 
necessary for a fair presentation have been included.  Operating results for 
the six-month period ended June 30, 1996 are not necessarily indicative of 
the results that may be expected for the year ended December 31, 1996.  For 
further information refer to consolidated financial statements and footnotes 
thereto included in the Company's Annual Report on Form 10-K for year ended 
December 31, 1995.

 

NOTE 2:          INVENTORIES

The components of inventory consist of the following:

 
                                             JUNE 30,             DEC. 31,
                                               1996                 1995
                                           ------------         ------------ 

Live Fish                                   $3,955,104           $3,694,842

Feed and Supplies                               27,165               26,497
                                           -------------        -------------
TOTAL INVENTORY                             $3,982,269           $3,721,339



NOTE 3:          INCOME TAXES

The effective income tax rate for the quarter ended June 30, 1996 and June 
30, 1995 differ from the statutory federal income tax rate due to state 
income tax rate.


NOTE 4:          IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS

The company adopted the provisions of the FASB Statement 121, "Accounting for
the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed
of" in the first quarter of 1996.  Statement 121 required impairment losses to
be recorded on long-lived assets used in operations when indicators of impair-
ment are present and the undiscounted cash flows estimated to be generated by
those assets are less than the assets carrying amount.  The effect of the 
adoption was not material.






                                    - 5 - 

                                FARM FISH, INC.
      
                   MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following is Management's Discussion and Analysis of certain significant 
factors which have affected the Company's earnings during the periods 
included in the accompanying statement of income:

OPERATING INCOME

SIX MONTHS ENDED JUNE 30, 1996 COMPARED TO SIX MONTHS ENDED JUNE 30, 1995

   During the six months period ended June 30, 1996, Farm Fish, Inc. made a 
profit (before tax) of $630,516 compared to $678,666 for the same period in 
1995.  Net sales were up $97,000 or 5.6% for the current six months compared 
to the first six months of last year but due to a $.02 per pound lower selling
price of food fish net profit was down $48,000.

   Cost of sales was 62% of total income for the current six months compared 
to 62% for the same period last year.  Included in cost of sales for 1995 was 
$201,000 for fingerlings sold.  These sales of $327,200 were included in 
"Other Income". The excess fingerling hatch over production needs from 1994 
year was sold in the spring of 1995.  In 1996 only a comparable few fingerlings
were sold.

   Selling, general administrative, and interest expenses incurred was up
$14,450 or 18.3% over the first six months of 1995 due principally to an 
increase of $5,500 in legal and audit fees and $7,117 increase in hauling cost.
 
   Interest expense decrease was due to lower average borrowings in 1996 
compared to 1995.  The effective income tax rate was approximately 38% in
both periods. 



THREE MONTHS ENDED JUNE 30, 1996 COMPARED TO THREE MONTHS ENDED JUNE 30, 1995

   Net profit (before tax) for the current quarter was $239,266 compared to 
$375,734 for the second quarter of 1995.  Net sales decreased $47,000 or 5%
due to $.01 decrease in net selling price per pound of food fish from the 
same quarter in 1995 and a 40,258 or 35% decrease in the pounds of food fish
sold.

   Cost of sales was 67% of total income for the second quarter of 1996 
compared to 63% for the same quarter of last year. The increased cost of sales
resulted from higher feed cost in the current quarter and more fingerling 
sales in 1995 which have lower cost than sale of food fish. 

   Selling, general and administrative expenses increased $8,972 or 23% from 
the same quarter in the prior year due to mostly increased haul charges and 
audit fees.

   Interest expense decrease was due to lower average borrowings in 1996 
compared to 1995.  The effective income tax rate was approximately 38% for both
periods.


                                    - 6 - 

                               FARM FISH, INC.
        
                   MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                FINANCIAL CONDITION AND RESULTS OF OPERATIONS


                               - continued -



LIQUIDITY

      As of June 30, 1996 current assets exceeded current liabilities by 
$1,777,633 compared to $1,615,511 for the year ended December 31, 1995.

      Farm Fish, Inc. had an available line of credit of $600,000 with a 
local bank as of June 30, 1996, compared to $410,000 available as of June 30, 
1995.  In addition to this line of credit and internally generated funds, the 
company would rely on Delta Industries, Inc. to supply additional working 
capital if needed.  The company refinanced its long-term debt in June 1993.  
Interest on this note is payable quarterly beginning September 30, 1993 with 
the annual principal payments of $100,000  due April 30 of each year and final 
payment due April 30, 1999.

Net cash provided by operating activities was $369,812 for the six months ended
June 30, 1996 compared to $627,862 for the six months ended June 30, 1995. 
This decrease is attributed to lower net selling price of food fish and higher
feed cost for the current six month and much more fingerling sales ($316,000)
for the same period in 1995.
























                                    - 7 -
 
                         PART  II      OTHER INFORMATION

                                FARM FISH, INC.




ITEM 1 - LEGAL PROCEEDINGS

     The Registrant is not aware of any pending legal proceedings, other than 
     ordinary routine litigation incidental to the business, involving the 
     Registrant or its subsidiary of any property or assets of the Registrant 
     of its subsidiary.



ITEM 4 - SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS

     The Annual Meeting of the Stockholders' for Farm Fish, Inc., was held May 
     22, 1996, with the election of T. L. Reed III, Thomas R. Slough, Jr., 
     Leland R. Speed, and W. D. Mounger as directors.  The annual report for 
     1995 and all actions of the officer and directors of the corporation were  
     adopted and approved.


ITEM 6 - EXHIBIT AND REPORT ON FORM 8-K

     Exhibit 27 - Financial Data Schedule - (Page 8 Attached)

     There were no report on Form 8-K for the quarter ended June 30, 1996.



                                 SIGNATURES

In accordance with the requirement of the Exchange Act, the Registrant caused 
this report to be signed on its behalf by the undersigned thereunto duly 
authorized.


                                                       FARM FISH, INC.
                                                ----------------------------
                                                        (Registrant)




August 8, 1996                                  ----------------------------
     Date                                          C. E. Horne, Secretary
                                                 and Chief Financial Officer