United States
                       Securities and Exchange Commission
                             Washington, D. C. 20549


                                   FORM 10-QSB

                                   (Mark One)


[X] Quarterly Report Under Section 13 or 15(d ) of the Securities Exchange Act
     of 1934 For the Period Ended   September 30, 1996
                                       or

[ ] Transition Report Under Section 13 or 15(d ) of the Securities Exchange Act
     of 1934 For the TransitionPeriod Ended From                to

                        Commission file number 0-25332

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

            Delaware                                           58-1963120
  (State or other jurisdiction of                           (I.R.S. Employer
  incorporation or organization)                           Identification No.)

       3400 Corporate Way, Suite G
         Duluth, Georgia                                         30136
(Address of principal executive offices)                       (Zip Code)

                                 (770) 623-6400
              (Registrant's telephone number, including area code)

                                 Not applicable
   (Former name, former address and 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  Securities  Exchange  Act of
1934  during the  preceding  12 months  (or for such  shorter  periods  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

                Applicable Only to Issuers Involved in Bankruptcy
                   Proceedings During the Preceding Five Years

     Indicate by check mark whether the  registrant  has filed all documents and
reports  required  to be filed by  Sections  12, 13, or 15(d) of the  Securities
Exchange Act of 1934 subsequent to the  distribution of securities  under a plan
confirmed by the court. Yes No
                      Applicable Only to Corporate Issuers

     Indicate the number of shares  outstanding of each of the issuer's  classes
of common stock, as of the latest practical date:

Common Stock, $.01 Par Value - 3,033,791 shares as of October 25, 1996.


<PAGE>



                         PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

                           GOLF TRAINING SYSTEMS, INC.
                      Condensed Consolidated Balance Sheets

<TABLE>
<CAPTION>

                                                                        September 30,              June 30,
                                                                            1996                     1996
                                                                        ------------           -------------
                                                                        (Unaudited)                (Note)
                            ASSETS
<S>                                                                     <C>                    <C>   
Current Assets:
   Cash and cash equivalents                                            $  1,184,474           $   2,009,820
   Receivables, net                                                          127,611                 164,304
   Inventories                                                               513,563                 430,141
   Prepayments                                                                88,517                  62,807
                                                                        ------------           -------------
   Total Current Assets                                                    1,914,165               2,667,072

Equipment and Improvements, net                                              519,816                 225,626

Other Assets:
   Intangible assets, net                                                  2,679,492               2,760,771
   Other                                                                     115,523                 271,123
                                                                        ------------           -------------
                                                                        $  5,228,996           $   5,924,592
                                                                        ============           =============
             LIABILITIES AND STOCKHOLDER'S EQUITY

Current Liabilities:
   Accounts payable                                                     $    387,205           $     300,316
   Accrued expenses                                                          113,963                 112,682
                                                                        ------------           -------------
   Total Current Liabilities                                                 501,168                 412,998

Stockholders' Equity:
   Preferred stock, $.01 par value;
     3,000,000 shares authorized:
       Series A, $.01 par value; 600 shares authorized,
       312 and 398 shares issued, respectively                             3,120,000               3,980,000
   Common stock, $.01 par value;
     10,00,000 shares authorized; 3,033,791 and
     2,393,050 shares issued, respectively                                    30,338                  23,931
   Additional paid-in capital                                              9,628,652               8,775,059
   Accumulated deficit                                                    (8,051,162)             (7,267,396)
                                                                        ------------           ------------- 
 Total Stockholders' Equity                                                4,727,828               5,511,594
                                                                        ------------           -------------
                                                                        $  5,228,996           $   5,924,592
                                                                        ============           =============

     Note:  The balance sheet at June 30, 1996 has been derived from the audited
financial  statements at that date but does not include all the  information and
footnotes  required by generally  accepted  accounting  principles  for complete
financial statements.

                The accompanying note is an integral part of the
                  condensed consolidated financial statements.

<PAGE>


                           GOLF TRAINING SYSTEMS, INC.
                 Condensed Consolidated Statements of Operations
                                   (Unaudited)


<CAPTION>

                                                                                      Three Months Ended
                                                                                        September 30,
                                                                                 ---------------------------
                                                                                     1996            1995
                                                                                 ------------    -----------
<S>                                                                              <C>             <C>  
Net sales                                                                        $    286,190    $   268,663
Cost of sales                                                                         222,264        213,063
                                                                                 ------------    -----------
Gross margin                                                                           63,926         55,600

Operating expenses:
   Selling and marketing                                                              319,307        310,806
   General and administrative                                                         565,131        238,843

                                                                                 ------------    -----------
                                                                                      884,438        549,649
                                                                                 ------------    -----------
   Operating loss                                                                    (820,512)      (494,049)

Other income (expense)                                                                 36,746         22,532
                                                                                 ------------    -----------
Net loss                                                                         $   (783,766)   $  (471,517)
                                                                                 ============    ===========
Net loss per share                                                               $       (.26)   $      (.21)
                                                                                 ============    ===========
Weighted average common shares                                                      2,971,980      2,206,570
                                                                                 ============    ===========

                The accompanying note is an integral part of the
                  condensed consolidated financial statements.


<PAGE>


                           GOLF TRAINING SYSTEMS, INC.
                 Condensed Consolidated Statements of Cash Flows
                                   (Unaudited)

<CAPTION>

                                                                          Three Months Ended September 30,
                                                                       ------------------------------------- 
                                                                            1996                    1995
                                                                       -------------           -------------
<S>                                                                    <C>                     <C>           
Cash flows used in operating activities                                $    (659,388)          $    (468,071)
                                                                                  
Cash flows used in investing activities                                     (165,958)                (31,642)

Cash flows from financing activities                                              --                      --
                                                                       -------------           -------------
   Net increase (decrease) in cash and cash equivalents                     (825,346)               (499,713)
              
Cash and cash equivalents at beginning of period                           2,009,820               1,658,178
                                                                       -------------           -------------
Cash and cash equivalents at end of period                             $   1,184,474           $   1,158,465
                                                                       =============           =============

                The accompanying note is an integral part of the
                  condensed consolidated financial statements.


<PAGE>





                           GOLF TRAINING SYSTEMS, INC.
              Notes to Condensed Consolidated Financial Statements
                               September 30, 1996
                                   (Unaudited)

     1. Basis of Presentation The  accompanying  unaudited  condensed  financial
statements  of Golf Training  Systems,  Inc. (the Company) have been prepared in
accordance with generally accepted  accounting  principles for interim financial
information  and  with the  instructions  to Form  10-QSB  and  Regulation  S-B.
Accordingly,  they do not include all the information and footnotes  required by
generally accepted accounting principles for complete financial  statements.  In
the opinion of  management,  all  adjustments  (consisting  of normal  recurring
items)  considered  necessary  for  a  fair  presentation  have  been  included.
Operating  results for the three month period ended  September  30, 1996 are not
necessarily  indicative  of the results  that may be expected for the year ended
June  30,  1997.  For  further  information,  refer  to  the  audited  financial
statements and notes thereto  included in the Company's Form 10-KSB for the year
ended June 30, 1996.

     2. Inventories  The components of inventory consist of the following:

<CAPTION>
                                                      September 30,         June 30,
                                                          1996                1996
                                                    ---------------     ---------------
<S>                                                 <C>                 <C>            
                  Raw materials                     $       312,405     $       237,021
                  Finished goods                            201,158             193,120
                                                    ---------------     ---------------
                                                    $       513,563     $       430,141
                                                    ===============     ===============


<PAGE>


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

Results of Operations

     Net sales  (gross sales less  returns and  allowances)  for the three month
period ended  September  30, 1996  increased to $286,190  from  $268,663 for the
three month period ended  September 30, 1995, an increase of  approximately  7%.
The  backlog  of  unshipped  orders  at  September  30,  1996 was  approximately
$105,000.

     The  final  introduction  of  products  in The  Leadbetter  Collection,  as
introduced at the annual PGA Show in January 1996, completed the initial product
line in the area of swing improvement for golfers.  The Company has committed to
additional  sales resources which the Company  anticipates will add sales growth
in the retail golf  products  market.  During  February  1996,  the Company also
announced  an  alliance  with a leading  sports  psychologist.  The  Company has
developed and added an entire line of products on an exclusive  basis,  targeted
to .performance  enhancement for business people,  initially, and to be expanded
to golf and all other sports, ultimately.  During August and September 1996, The
Company  continued to introduce new products being developed by Dave Pelz in the
area of putting and the short game, and through Sports  Training  Systems,  LLC,
(STS) a business venture with Biomechanics,  Inc, which management believes will
continue to enhance its strategy of full  product  lines and the use of advanced
computer aided teaching technology. STS owns certain technology licensing rights
for  three-dimensional  human  movement  analysis and computer  animation in the
sports training industry. The Company believes that such technology provides the
most  accurate  full body  swing  evaluation  and makes  the  results  easier to
understand   through  real-time   three-dimensional   virtual  reality  computer
animation  of  body  and  golf  club   motions  and  instant   feedback  of  all
biomechanical performance data.

     Cost of sales as a  percentage  of net sales was  approximately  78% in the
three month period ended September 30, 1996, as compared to approximately 79% in
the three month  period ended  September  30, 1995.  These  changes  reflect the
impact of the increased sales of other new higher margin products.

     Selling and  marketing  expenses  increased  approximately  3% in the three
month period  ended  September  30, 1996,  as compared to the three month period
ended September 30, 1995. The increased  selling and marketing  expenses reflect
the growth in sales and  increased  selling  effort by the Company.  General and
administrative,  depreciation  and  amortization  and research  and  development
expenses increased approximately 137% for the three month period ended September
30, 1996 over comparable  amounts for the three month period ended September 30,
1995. The increase reflects the Company's  increase in operations,  specifically
those  associated  with the  development of STS and the newer product lines from
Pelz and Rotella.

     The Company had a net loss of $783,766 ($.26 per share) for the three month
period ended  September  30, 1996  compared to a net loss of $471,517  ($.21 per
share) for the three month period ended September 30, 1995. The net loss and net
loss per share amounts  primarily  reflect the increased cost of operations from
the  additional  expenses  from  Pelz  and  Rotella  product  lines  as  well as
additional expenses of STS.

Liquidity and Sources of Capital

     At  September  30,  1996,  the Company had working  capital of  $1,412,997,
including  $1,184,474 of cash and cash  equivalents.  The Company's  strategy of
growth  into  the  retail  market  and  international  sales  and the  continued
introduction  of new  products  including  the  STS  3D  products  will  require
additional  funds to implement.  The Company has no commitments and no assurance
additional  funds will be available or if so, will be  sufficient to continue to
implement such strategy. The Company had a negative cash flow from operations of
$659,388 for the three month period ended September 30, 1996 and a negative cash
flow from  operations of $468,071 for the three month period ended September 30,
1995.  The negative cash flow from  operations  reflects the increased  expenses
discussed above.

<PAGE>



                           PART II - OTHER INFORMATION



Item 1.  Legal Proceedings.

     There are no material  pending legal  proceedings to which the Company is a
party or of which any of their property is subject.

Item 2.  Changes in Securities.

         (a)      Not applicable.

         (b)      Not applicable.

Item 3.  Defaults Upon Senior Securities.

         (a)      Not applicable.

         (b)      Not applicable.

Item 4.  Submission of Matters to a Vote of Security Holders.

         Not applicable.

Item 5.  Other Information.

         Not applicable.

Item 6.  Other Information.

         (a)      Exhibits.

                  Exhibit 11  Statement Re: Computation of Earnings Per Share.

         (b)      Reports on Forms 8-K.  The Company filed one report on Form
                  8-K dated October  4, 1996  regarding the appointment of
                  Director Thomas W. Tripp.


<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.

                                                  GOLF TRAINING SYSTEMS, INC.
                                                        (Registrant)



Date    November 1, 1996                          /s/ Wayne C. McDonald
     --------------------                       -------------------------      
                                                   Wayne C. McDonald
                                           Chairman and Chief Executive Officer

<PAGE>


                           GOLF TRAINING SYSTEMS, INC.


EXHIBIT 11 - Statement Re: Computation of Earnings Per Share



                                                                                        Three Months ended
                                                                                          September 30,
                                                                                   ---------------------------
                                                                                       1996            1995
                                                                                   ------------    -----------
<S>                                                                                <C>             <C>   
Primary and fully diluted:
   Weighted average shares outstanding
     during the period                                                                2,971,980      2,188,021
   Effect of common stock acquisition rights
     and warrants granted subsequent to
     October 19, 1993 computed in accordance
     with the treasury stock method as required
      by the SEC (1).                                                                        --         18,549
                                                                                   ------------     ----------
   Total weighted average common shares                                               2,971,980      2,206,570
                                                                                   ============     ==========
Net loss                                                                           $   (783,766)    $ (471,517)
                                                                                   ============     ==========
Net loss per share                                                                    $(.26)           $(.21)
                                                                                      =====            =====



     (1)  Pursuant  to  Securities  and  Exchange  Commission  Staff  Accounting
Bulletin  No. 83,  Common and  Preferred  Stock  issued  and stock  options  and
warrants  granted at prices below the assumed  initial public  offering price of
$6.00 per share during the twelve-month period immediately preceding the initial
filing date of the  Company's  Registration  Statement  for its  initial  public
offering have been included as outstanding  for all periods  presented using the
treasury stock method.


</TABLE>