<PAGE>

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

                                   FORM 10-QSB

         [ X ]  QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE
                          SECURITIES EXCHANGE ACT OF 1934


         FOR THE QUARTERLY PERIOD ENDED JULY 31, 2000

         [   ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
                                  EXCHANGE ACT


         FOR THE TRANSITION PERIOD FROM ______________ TO ________________

         COMMISSION FILE NUMBER: 0-24857

                              POWER TECHNOLOGY, INC.
                     (EXACT NAME OF SMALL BUSINESS ISSUER AS
                            SPECIFIED IN ITS CHARTER)

             NEVADA                                  88-0395816
             ------                                  ----------
 (STATE OR OTHER JURISDICTION OF        (I.R.S. EMPLOYER IDENTIFICATION NO.)
  INCORPORATION OR ORGANIZATION)



                  100 W. BONANZA ROAD, LAS VEGAS, NEVADA 89106
                  --------------------------------------------
                    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)

                                 (702) 382-3385
                           ---------------------------
                           (ISSUER'S TELEPHONE NUMBER)

                                 NOT APPLICABLE
   --------------------------------------------------------------------------
   (FORMER NAME, FORMER ADDRESS AND FORMER FISCAL YEAR, IF CHANGED SINCE LAST
                                     REPORT)


                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

                  CHECK WHETHER THE REGISTRANT FILED ALL DOCUMENTS AND REPORTS
         REQUIRED TO BE FILED BY SECTION 12, 13 OR 15(d) OF THE EXCHANGE ACT
         AFTER THE DISTRIBUTION OF SECURITIES UNDER A PLAN CONFIRMED BY A
         COURT.        YES        NO
                           ---      ---

                      APPLICABLE ONLY TO CORPORATE ISSUERS

                  STATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S
         CLASSES OF COMMON EQUITY, AS OF THE LAST PRACTICABLE DATE: 18,409,305
         SHARES.

         TRANSITIONAL SMALL BUSINESS DISCLOSURE FORMAT (CHECK ONE):
         YES      NO  X
             ---     ---


<PAGE>

Item 1.

                             POWER TECHNOLOGY, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                                 BALANCE SHEETS


<TABLE>
<CAPTION>

                                                                                        July 31             January 31
                                                                                          2000                 2000
                                                                                      (Unaudited)            (Audited)
                                                                                     ------------          ------------
<S>                                                                                  <C>                   <C>

                                     ASSETS

CURRENT ASSETS
         Cash                                                                        $    232,114          $     76,015
         Accounts receivable                                                                1,000                     0
                                                                                     ------------          ------------
                                                                                          233,114                76,015
                                                                                     ------------          ------------

PROPERTY AND EQUIPMENT, NET                                                                18,142                12,831
                                                                                     ------------          ------------

OTHER ASSETS
         Prepaid expense                                                                   20,000                20,000
         Organization costs                                                                 2,500                 5,000
         Patents                                                                           78,500                65,000
                                                                                     ------------          ------------
                                                                                          101,000                90,000
                                                                                     ------------          ------------
                                                                                     $    352,256          $    178,846
                                                                                     ============          ============

                      LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES
         Accounts payable - trade                                                    $          0          $      5,184
         Accrued expenses                                                                  16,469                16,469
         Advance re: Micro-Dry Technology                                                  53,003                86,067
         Loan payable                                                                     165,036               110,000
                                                                                     ------------          ------------
                                                                                          234,508               283,285

         Convertible Debt                                                                 600,760                65,515
                                                                                     ------------          ------------
                                                                                          835,268               348,800
COMMON STOCK
         Par value $.001, authorized 25,000,000;
         17,663,500 and 16,817,500 issued & outstanding
         as of July 31, 2000 and January 31, 2000,
         respectively                                                                      17,664                16,818
ADDITIONAL PAID IN CAPITAL                                                              2,062,362             1,659,458
DEFICIT ACCUMULATED DURING DEVELOPMENT STAGE                                           (2,563,038)           (1,800,665)
PRIOR PERIOD ADJUSTMENT                                                                       -0-                20,000
                                                                                     ------------          ------------
                                                                                         (483,012)             (104,389)
                                                                                     ------------          ------------

                                                                                     $    352,256          $    178,846
                                                                                     ============          ============

</TABLE>

<PAGE>

                             POWER TECHNOLOGY, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)


<TABLE>
<CAPTION>

                                                   For the six months
                                                      ended July 31,
                                                2000                  1999
                                            ------------          ------------
<S>                                         <C>                   <C>
REVENUE                                     $          0          $          0
                                            ------------          ------------

EXPENSES

         General and administrative              594,204               251,294
         Research and development                188,169                53,324
                                            ------------          ------------

NET LOSS FOR THE PERIOD                     $   (782,373)         $   (304,618)
                                            ============          ============


WEIGHTED AVERAGE SHARES OUTSTANDING           17,663,500             15,257200
LOSS PER SHARE FOR THE PERIOD               $       (.04)         $       (.01)
                                            ============          ============

</TABLE>



<PAGE>

                             POWER TECHNOLOGY, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                       CONSOLIDATED STATEMENT OF CASH FLOW
                                   (UNAUDITED)


<TABLE>
<CAPTION>

                                                                                      For the six months
                                                                                        ended July 31,
                                                                                  2000                   1999
                                                                               ------------          ------------
<S>                                                                            <C>                   <C>
CASH PROVIDED BY (USED FOR)

OPERATING ACTIVITIES

         Net loss for the period                                               $   (782,373)         $   (304,618)
         Less non cash working capital items:
                  Amortization                                                        2,500                 2,500
                  (Increase) decrease in accounts receivable                         (1,000)               (1,000)
                  Increase (decrease) in accounts payable                            (5,184)               49,215
                  Increase (decrease) in accounts payable-
                     Related party                                                  535,245                     0
                                                                               ------------          ------------
                                                                                   (250,812)             (253,903)
                                                                               ------------          ------------
INVESTING ACTIVITIES

         Advances from MikroDri                                                     (33,064)                    0
         Increase (decrease) in loans payble                                         57,511                     0
         Investment in technology                                                   (13,500)                    0
         Purchase of equipment                                                       (5,311)               (3,719)
                                                                               ------------          ------------
                                                                                     (5,636)               (3,719)
                                                                               ------------          ------------
FINANCING ACTIVITIES

         Issuance of common stock                                                   403,750               302,250
                                                                               ------------          ------------
                                                                                    403,750               302,250
                                                                               ------------          ------------

INCREASE IN CASH                                                                    147,302                44,628

CASH - BEGINNING OF THE PERIOD                                                       76,015                60,499
                                                                               ------------          ------------

CASH - END OF THE PERIOD                                                       $    232,114          $    105,127
                                                                               ============          ============

</TABLE>

<PAGE>

POWER TECHNOLOGY, INC.
(A Development Stage Company)
Notes to the Financial Statements
UNAUDITED


NOTE 1 - Summary Of Significant Accounting Policies

         a.   Organization

              The Company was incorporated under the name of Zeppelin Production
         Corporation on June 3, 1996 under the laws of the State of Nevada. The
         Company was organized to provide aerial photography and advertising
         promotion through the use of helium filled remote control blimps,
         however operations were never secured.

              Pursuant to a plan of reorganization and acquisition agreement,
         dated February 15, 1998, the Company acquired Powertek Technology, Inc.
         (Powertek) and changed it's name to Power Technology, Inc. Because the
         management and operations of Powertek became the management and
         operations of Zeppelin, this business combination has been recorded as
         a reverse acquisition, thus Powertek is the surviving accounting entity
         presented on the financial statements. The historical information
         provided in these financial statements prior to the acquisition are
         those of Powertek.

              Powertek was incorporated under the laws of the State of Nevada on
         January 19, 1996. The Company was organized primarily for the purpose
         of developing an advanced battery technology for use in the growing
         electric car industry. As of the date of these statements, the Company
         has been able to advance the battery technology to a proof of principle
         stage and is currently seeking additional capital to finance the
         development of the technology to a preliminary prototype stage.

         b.   Recognition of Revenue

              The Company recognizes income and expense on the accrual basis of
         accounting.

         c.   Earnings (Loss) Per Share

              The computation of earnings per share of common stock is based on
         the weighted average number of shares outstanding at the date of the
         financial statements.

         d.   Cash and Cash Equivalents

              The company considers all highly liquid investments with
         maturities of three months or less to be cash equivalents.


<PAGE>


                             POWER TECHNOLOGY, INC.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                                    UNAUDITED

NOTE 1 - Summary Of Significant Accounting Policies (continued)

         e.   Provision for Income Taxes

              No provision for income taxes have been recorded due to net
         operating loss carryforwards totaling approximately $2,023,107 that
         will be offset against future taxable income. These NOL carryforwards
         will begin to expire in the year 2012. No tax benefit has been reported
         in the financial statements because the Company believes there is a 50%
         or greater chance the carryforward will expire unused.


         f.   Organization Costs

              Organization expenses are recorded at cost and are being amortized
         on a straight-line basis over five years. The expenses represent
         pre-incorporation cost to establish the entity and develop various
         sales venues.

         g.   Principles of Consolidation

              These financial statements include the books of Power Technology,
         Inc (formerly Zeppelin) and its wholly owned subsidiary Powertek
         Technologies, Inc. All intercompany transactions and balances have been
         eliminated in the consolidation.

         h.   Use of Estimates in the Preparation of Financial Statements

              The preparation of financial statements in conformity with
         generally accepted accounting principles requires management to make
         estimates and assumptions that affect reported amounts of assets and
         liabilities, disclosure of contingent assets and liabilities at the
         date of the financial statements and expenses during the reporting
         period. In these financial statements, assets, liabilities and expenses
         involve extensive reliance on management's estimates. Actual results
         could differ from those estimates.


NOTE 2 - Going Concern

              The accompanying financial statements have been prepared assuming
         that the company will continue as a going concern. The company has had
         recurring operating losses for the past several years and is dependent
         upon financing to continue operations. The financial statements do not
         include any adjustments that might result from the outcome of this
         uncertainty.

<PAGE>

                             POWER TECHNOLOGY, INC.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                                    UNAUDITED



NOTE 3 - Property and Equipment

         Property and equipment consists of the following at July 31, 2000 and
January 31, 2000:


<TABLE>
<CAPTION>

                                                 July 31,       January 31,
                                                   2000            2000
                                                -----------    -----------
         <S>                                    <C>            <C>
         Office Equipment                       $    16,084    $    10,773
         Manufacturing Equipment                      4,076          4,076
         Leasehold Improvements                       2,164          2,164
                                                -----------    -----------
                                                     22,324         17,013
              Less Accumulated Depreciation          (4,182)        (4,182)
                                                -----------    -----------
         Total Property & Equipment             $    18,142    $    12,831
                                                ===========    ===========

</TABLE>

         Depreciation expense for the period ended July 31, 2000 and January 31,
2000 is $-0- and $1,910, respectively.

NOTE 4 - Capitalization

              Prior to the reverse acquisition of Power Technology, Inc.
         (formerly Zepplin Production Corp.) and Powertek Technology, Inc.
         (Powertek) the Company authorized 2,500,000 shares at a par
         value of $.01 and had 2,500,000 issued and outstanding. The par
         value in these financial statements have been retroactively restated
         to show the new par value.

              In the reverse acquisition the 2,500,000 shares of Powertek were
         exchanged for 5,000,000 shares of Power Technology, Inc. (formerly
         Zepplin Production Corp.). The total number of post-acquisition shares
         authorized are 25,000,000 at a par value of $.001. Total number of
         post-acquisition shares issued and outstanding are 5,300,000 shares.

              During June 1998, the Company issued 200,000 shares of common
         stock for patents valued at $20,000.

              During the year ended January 31, 1999, the Company issued
         6,900,000 shares of common stock for cash of $690,000.

              During November 1998, the Company issued 134,700 shares of common
         stock in exchange for services valued at $134,700.

              During the year ended January 31, 2000, the Company issued
         2,900,000 shares of common stock for cash of $290,000.

              During the year ended January 31, 2000, the Company issued
         548,800 shares of common stock in exchange for services valued at
         $329,550.

              On December 22, 1999, the Company issued 1,034,000 shares of
         restricted Common Stock at $.25 per share to Mr. Lee A. Balak, the
         President and a director of the Company, in exchange for cancellation
         of a $258,500 note, including accrued interest.

              During the second quarter ended July 31, 2000, the Company
         issued 846,000 of common stock for cash in the amount of $403,750.

<PAGE>

                             POWER TECHNOLOGY, INC.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                                    UNAUDITED


NOTE 5 - Development Stage Company

              The Company is a development stage company as defined in Financial
         Accounting Standards Board Statement No. 7. It is concentrating
         substantially all of its efforts in raising capital, in order to
         generate significant operations.

NOTE 6 - Accounts and Loans Payable - Related Party

              The Company had $65,515 of research and development fees paid for
         by a majority shareholder. The balance was non-interest bearing through
         January 31, 1998. For the year ending January 31, 2000, the balance was
         interest bearing at 10% per annum. The Company intends to repay the
         balance within one year.

              The Company had $53,003 of research and development fees
         advanced by MikroDri, Inc., a related entity with common shareholders
         and management. The Company will continue to perform research and
         development procedures which will be invoiced against the fee
         advancements.

                  Mr. Lee A. Balak, the President and a director of the
         Company, loaned and advanced approximately $258,500 to the Company as
         of December 22, 1999, for research and development fees. The research
         and development fees were paid by the Company to Neo-Dyne Research,
         Inc. ("Neo-Dyne"), a research and development company owned by Alvin
         A. Snaper, also a director, Vice President, Secretary and Treasurer
         of the Company. Neo-Dyne has conducted substantially all of the
         research and development activities regarding the principal products
         of the Company, including its batteries, pipeline connection
         technology, and its allow sensor technology. On December 22, 1999,
         the Company authorized the issuance of 1,034,000 shares of restricted
         Common Stock at $.25 per share to Mr. Balak in exchange for the
         cancellation of the $258,500 debt, including accrued interest.

              Mr. Lee A. Balak, the President and a director of the Company,
         loaned $600,760 to the Company. The note is due on demand, and the
         balance is non- interest bearing through April 30, 2000.

              The Company rents a facility in Las Vegas, Nevada from Bonanza
         West Properties, a partnership 50% owned by Alvin A. Snaper, a
         director and Vice President of the Company. Rents for the year ended
         January 31, 2000 totaled approximately $139,000.


NOTE 7 - Patents

              On June 9, 1998, the Company acquired patent number 4,107,997
         issued by the U.S. Patent office in 1978. The Company paid $45,000 and
         100,000 shares of common stock valued at $10,000 for the patent. The
         patent is for an alloy sensor which generates a current when in contact
         with water or other aqueous composition.

              Also during 1998, the Company acquired patent number 5,442,846 for
         100,000 shares of common stock valued at $10,000. This patent is a
         procedure and apparatus for cold joining of metallic pipes.

<PAGE>

                             POWER TECHNOLOGY, INC.
                          (A Development Stage Company)
                        Notes to the Financial Statements
                                    UNAUDITED


NOTE 8 - Prior Period Adjustment

              An adjustment in the amount of $20,000 has been recorded on the
         books as of January 31, 2000. The adjustment is due to an
         over-reported shareholders' equity amount in the prior year ended
         January 31, 1999. The entry has been recorded to reduce additional
         paid-in capital and to offset the overstated expense in the prior
         year.


NOTE 9 - Commitments

              In connection with the acquisition of patent number 5,442,846, the
         Company is committed to a 3% royalty on Gross Sales.

NOTE 10 - Subsequent Events

                THE COMPANY entered into an Investment Agreement dated APRIL
          17, 2000 (the "AGREEMENT") with Swartz Private Equity, LLC of
          Roswell, Georgia ("SPE"). The Agreement provides for SPE to commit
          to purchase up to an aggregate of $35,000,000 of the Common Stock
          of THE COMPANY, not to exceed 9.9% of the then total issued and
          outstanding shares of Common Stock of THE COMPANY, as requested
          from time to time by THE COMPANY as its equity capital needs arise
          during the term of the Agreement. Upon written notice from THE
          COMPANY, SPE is committed to purchase Common Stock of THE COMPANY
          at a purchase price equal to the lesser of the (i) then current
          market price minus $.25, or (ii) 91% of the then current market
          price. Market price is defined to mean the lowest bid price for
          Common Stock on the last business day during a pricing period (the
          date following the notice from THE COMPANY and ending on the 20th
          day thereafter). Unless THE COMPANY specifically requests SPE to
          purchase its Common Stock by written notification to SPE, SPE has
          no right to acquire any securities of THE COMPANY and the Company
          has no obligation to offer and sell its securities to SPE. Under
          the terms of the Agreement, THE COMPANY will be issuing to SPE a
          warrant to purchase 490,000 shares of the Common Stock of THE
          COMPANY at an exercise price of $.8125 per share, payable in cash
          or in a cashless exercise based upon a formula adjusted by such
          exercise price and the average closing price for five trading days
          prior to the exercise date, (with price reset provisions) during a
          term of five years. THE COMPANY will be issuing additional warrants
          to SPE to purchase a number of shares equal to 10% of each purchase
          of shares made by SPE during the term of the Agreement. The shares
          of Common Stock and warrants of THE COMPANY to be issued to SPE are
          covered by a Registration RIGHTS AGREEMENT requiring the Company to
          file a registration statement with the U.S. Securities and Exchange
          Commission to register such securities under the Securities Act of
          1933.


<PAGE>

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

ITEM 2.           MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS.

GENERAL

         Power Technology, Inc. (the "Company), a Nevada corporation, was
incorporated on June 3, 1996. However the Company did not conduct any
significant operations until March 1998 when it acquired all of the issued and
outstanding capital stock and assets of PowerTek Technology Corporation, Inc.
(formerly called Power Technology, Inc.) which is presently a wholly-owned
subsidiary of the Company. The Company changed its corporate name from "Zepplin
Production Corp." to Power Technology, Inc. during March 1998 to reflect the
change in the purposes and nature of its business.

         The Company is a research and development company. It is presently
engaged in research and development activities regarding: (1) batteries for the
automotive and electric car industries, (2) electronic sensors, and (3) pipeline
connection technology.

RESULTS OF OPERATIONS

         The following table sets forth certain operating information regarding
the Company:


<TABLE>
<CAPTION>

                                                                         SIX MONTHS ENDED
                                                                              JULY 31
                                                                  ----------------------------
                                                                      2000             1999
                                                                  -----------      -----------
                                                                           (unaudited)
<S>                                                               <C>              <C>
Revenues.................................................         $        0       $        0

General and administrative expenses......................            594,204          251,294

Research and Development.................................            188,169           53,324
                                                                  -----------      -----------

Net income (loss)........................................         $ (782,373)      $ (304,618)

Net income (loss) per share..............................         $     (.04)      $     (.01)


</TABLE>


SIX MONTHS ENDED JULY 31, 2000 COMPARED WITH SIX MONTHS ENDED JULY 31, 1999

         REVENUES. The Company had no revenues during the first six months of
2000 and 1999, and is in the development stage.

         GENERAL AND ADMINISTRATIVE EXPENSES. General and administrative
expenses increased approximately 236% to $594,204 in the six month period ended
July 31, 2000, from $251,294 in 1999. This increase is principally attributable
to increased activity in its research and development activities.

         RESEARCH AND DEVELOPMENT COSTS. Research and development costs
increased approximately 353% during the first six months of fiscal 2000 to
$188,373, compared to the first six months of 1999 from $53,324.

<PAGE>

         ACCOUNTS PAYABLE - RELATED PARTY. Accounts payable to a related party
decreased from $197,302 at July 31, 1999, to $53,003 at July 31, 2000, an
decrease of approximately 372%. This decrease arose from additional cash loans
to the Company by an affiliated company owned by Lee A. Balak, a director and
President of the Company which were expended primarily for research and
development fees and costs to a research company owned by Alvin A. Snaper, a
director and Vice President, Secretary and Treasurer of the Company.

         RESULTS OF OPERATIONS. The net loss of the Company decreased to
$782,373 during the six month period ended July 31, 2000, as compared with a
loss of $304,618 during the same period of 1999, a reduction of approximately
257%, and was due primarily to the increase in its research and development
activities and lack of revenues.

CAPITAL EXPENDITURES, CAPITAL RESOURCES AND LIQUIDITY

         The following summary table (unaudited) presents comparative cash flows
of the Company for the periods indicated.


<TABLE>
<CAPTION>

                                                                 SIX MONTHS ENDED
                                                                      JULY 31
                                                     -----------------------------------------
                                                            2000                    1999
                                                     ------------------       ----------------
<S>                                                  <C>                      <C>
Net cash used in operating activities                 $      (250,812)         $    (253,903)

Net cash used in investing activities                 $        (5,636)         $      (3,719)

Net cash provided by financing activities             $       403,750          $     302,250

</TABLE>

         CAPITAL EXPENDITURES. The Company did not incur any material capital
expenditures for office equipment, office furniture or other fixed assets during
the six month periods ended July 31, 2000 and 1999, respectively.

         LIQUIDITY AND CAPITAL RESOURCES. The Company's capital resources have
historically been provided by the sale of its Common Stock, the exercise of
warrants and options, and by short term loans.

         The Company intends to raise additional capital through an offering of
its Common Stock or other securities to provide additional working capital to
fund future operations.

         Power Technology, Inc. (the "Company") entered into an Investment
Agreement dated April 17, 2000 (the "Agreement") with Swartz Private Equity,
L.L.C. of Roswell, Georgia ("SPE").

         The Agreement provides for SPE to commit to purchase up to an aggregate
of $35,000,000 of the Common Stock of the Company, subject to certain volume
limitations and other conditions, as requested from time to time by the Company
as its equity capital needs arise during the term of the Agreement.

         Upon written notice from the Company, SPE is committed to purchase
Common Stock of the Company at a purchase price equal to the lesser of the (i)
then current market price minus $.25, or (ii) 91% of the then current market
price. Market price is defined to mean the lowest bid price for the Common Stock
on the last business day during a pricing period beginning on (the date
following the notice from the Company and ending on the 20th day thereafter).

<PAGE>

         Unless the Company specifically requests SPE to purchase its Common
Stock by written notification to SPE, SPE has no right to acquire any securities
of the Company and the Company has no obligation to offer and sell its
securities to SPE.

         Under the terms of the Agreement, the Company will be issuing to SPE a
warrant to purchase 490,000 shares of the Common Stock of the Company at an
exercise price of $.8125 per share, payable in cash or in a cashless exercise
based upon a formula adjusted by such exercise price and the average closing
price for five trading days prior to the exercise date, (with price reset
provisions) during a term of five years. The Company will be issuing additional
warrants to SPE to purchase a number of shares equal to 10% of each purchase of
shares made by SPE during the term of the Agreement.

         The shares of Common Stock and warrants of the Company to be issued to
SPE are covered by a Registration Rights Agreement requiring the Company to file
a registration statement with the U.S. Securities and Exchange Commission to
register such securities under the Securities Act of 1933.

         At July 31, 2000, the Company had current assets of $233,114 and
current liabilities of $835,268, resulting in a working capital deficit of
$602,154, as compared to a working capital deficit of $207,220 at January 31,
2000.

         Net cash used in operating activities decreased to $(250,812) for the
six months ended July 31, 2000, from $(253,903) for the six months ended July
31, 1999, a difference of $3,091. The increase in net cash used in operating
activities was primarily attributable to the increase in its research and
development costs regarding its battery technology.


                           PART II - OTHER INFORMATION

ITEM 1.           LEGAL PROCEEDINGS

         None


ITEM 2.           CHANGES IN SECURITIES

         None

ITEM 3.           DEFAULTS UPON SENIOR SECURITIES

         None

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

         No matter was submitted to a vote of the security holders of the
Company during its fiscal quarter ended July 31, 2000.

ITEM 5.           OTHER INFORMATION.

         Not applicable.

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

<PAGE>

         (a)      EXHIBITS.

                  Exhibit No. 27                     Financial Data Schedule

         (b)      REPORTS ON FORM 8-K.

                  No reports on Form 8-K were filed by the Company during the
                  fiscal quarter ended July 31, 2000.




                                   SIGNATURES


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

                                       POWER TECHNOLOGY, INC.



Date:    September 14, 2000            By:  /s/ Lee A. Balak
                                          -------------------------------------
                                       Lee A. Balak, President, Chief Financial
                                       Officer, and
                                       Principal Accounting Officer