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, 1997
                                       or

[   ] Transition Report Under Section 13 or 15(d ) of the Securities  Exchange 
      Act of 1934 For the Transition Period 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 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 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 - 3,720,886 shares as of October 10, 1997.


<PAGE>


                                       PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

                           GOLF TRAINING SYSTEMS, INC.
                      Condensed Consolidated Balance Sheets
<TABLE>
<CAPTION>

                                                                        September 30,              June 30,
                                                                            1997                     1997
                                                                        ------------           -------------
                                                                        (Unaudited)                (Note)
                            ASSETS
<S>                                                                     <C>                    <C>    
Current Assets:
   Cash and cash equivalents .......................................... $    145,666           $      74,047
   Receivables, net ...................................................      217,507                 247,289
   Inventories ........................................................      310,476                 329,141
   Prepayments ........................................................       64,977                  38,814
                                                                        ------------           -------------

   Total Current Assets ...............................................      738,626                 689,291

Equipment and Improvements, net .......................................      147,690                 171,036

Other Assets:
   Patents, trademarks and license agreements, net ....................      104,891                 114,488
   Goodwill, net ......................................................    1,356,768               1,405,224
   Net assets of discontinued operations ..............................    1,304,655               1,329,940
   Other ..............................................................        5,650                   6,523
                                                                        ------------           -------------

                                                                        $  3,658,280           $   3,716,502
                                                                        ============           =============

             LIABILITIES AND STOCKHOLDER'S EQUITY

Current Liabilities:
   Accounts payable ................................................... $    392,847           $     126,535
   Accrued expenses ...................................................      254,856                 184,188
                                                                        ------------           -------------

   Total Current Liabilities ..........................................      647,703                 310,723

Stockholders' Equity:
   Preferred stock, $.01 par value;
     3,000,000 shares authorized:
       Series A, 600 shares authorized,
       160.5  shares issued ...........................................    1,605,000               1,605,000
       Series B, 50 shares authorized,
       8 shares issued ................................................      200,000                      --
   Common stock, $.01 par value;
     10,00,000 shares authorized; 3,689,305 shares issued .............       36,893                  36,893
   Additional paid-in capital .........................................   11,118,464              11,138,464
   Accumulated deficit ................................................   (9,949,780)             (9,374,578)
                                                                        -------------          -------------
   Total Stockholders' Equity .........................................    3,010,577               3,405,779
                                                                        ------------           -------------

                                                                        $  3,658,280           $   3,716,502
                                                                        ============           =============
</TABLE>
Note:  The  balance  sheet at June 30,  1997 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   notes  are  an  integral  part  of  the  condensed
consolidated financial statements.
<PAGE>


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

<TABLE>
<CAPTION>
                                                                                      Three Months Ended
                                                                                        September 30,
                                                                                 ---------------------------
                                                                                     1997            1996
                                                                                 ------------    -----------
<S>                                                                              <C>             <C> 
Net sales ...................................................................... $    435,951    $   286,190
Cost of sales ..................................................................      319,944        222,264
                                                                                 ------------    -----------

Gross margin ...................................................................      116,007         63,926

Operating expenses:
   Selling and marketing .......................................................      294,112        319,307
   General and administrative ..................................................      330,918        311,653
                                                                                 ------------    -----------
                                                                                      625,030        630,960
                                                                                 ------------    -----------
   Operating loss ..............................................................     (509,023)      (567,034)

Other income (expense) .........................................................        4,458         36,746
                                                                                 ------------    -----------

Net loss from continuing operations ............................................     (504,565)      (530,288)

Loss from discontinued operations ..............................................      (70,637)      (253,478)
                                                                                 ------------   -------------

Net Loss ....................................................................... $   (575,202)  $   (783,766)
                                                                                 ============   =============

Net loss per share:
   Continuing operations .......................................................    $    (.14)     $    (.18)
   Discontinued operations .....................................................         (.02)          (.08)
                                                                                    ----------     ----------
                                                                                    $    (.16)     $    (.26)
                                                                                    ==========     ==========

Weighted average common shares .................................................    3,689,305      2,971,980
                                                                                  ===========    ===========
</TABLE>
The accompanying notes are an integral part of the condensed consolidated 
financial statements.
<PAGE>


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

<TABLE>
<CAPTION>
                                                                          Three Months Ended September 30,
                                                                       -------------------------------------
                                                                            1997                    1996
                                                                       -------------           -------------
<S>                                                                    <C>                     <C>    
Cash flows used in operating activities .............................. $    (107,363)          $    (659,388)

Cash flows used in investing activities ..............................        (1,018)               (165,958)

Cash flows from financing activities .................................       180,000                      --
                                                                       -------------           -------------

   Net increase (decrease) in cash and cash equivalents ..............        71,619                (825,346)

Cash and cash equivalents at beginning of period .....................        74,047               2,009,820
                                                                       -------------           -------------

Cash and cash equivalents at end of period ........................... $     145,666           $   1,184,474
                                                                       =============           =============
</TABLE>
The  accompanying   notes  are  an  integral  part  of  the  condensed 
consolidated financial statements.
<PAGE>





                           GOLF TRAINING SYSTEMS, INC.
              Notes to Condensed Consolidated Financial Statements
                               September 30, 1997
                                   (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, 1997 are not
necessarily  indicative  of the results  that may be expected for the year ended
June  30,  1998.  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, 1997.

     2. Inventories The components of inventory consist of the following:
<TABLE>
<CAPTION>
                                                      September 30,         June 30,
                                                          1997                1997
                                                    ---------------     ---------------
<S>                                                 <C>                 <C>  
                  Raw materials                     $       149,028     $       133,592
                  Finished goods                            161,448             195,549
                                                    ---------------     ---------------

                                                    $       310,476     $       329,141
                                                    ===============     ===============

</TABLE>

<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, 1997 increased to $435,951 from $286,190 for the three month
period ended September 30, 1996, an increase of  approximately  52%. The backlog
of unshipped orders at September 30, 1997 was approximately $207,000.

Gross margins continue to improve to approximately 27% in the three month period
ended  September 30, 1997, as compared to  approximately  22% in the three month
period  ended  September  30,  1996.  These  changes  reflect  the impact of the
increased sales of other new higher margin products as well as continued efforts
to achieve the best possible purchase price for inventory items.

Selling and marketing expenses and general and administrative expenses decreased
slightly  (1%)to  $625,030 for the three months  ended  September  30, 1997 from
$630,960 for the three months ended  September 30, 1996 reflecting the effort of
the Company to manage its overhead  expense level to achieve more efficiency and
profitability.

At June 30, 1997,  management  determined that its Sports Training Systems (STS)
operations should be classified as a discontinued operation.  (See Note 2 to the
consolidated  financial  statements  included in the Company's  annual report on
Form 10-KSB at June 30, 1997). Management's decision to cease operations was the
result of an alleged  breach of  contract by  Biosports,  LLC,  the  licensor of
certain  motion capture  technology  that STS intended to develop and market for
golf and other  applications.  The loss from discontinued  operations  decreased
from  $253,478 for the three months ended  September 30, 1996 to $70,637 for the
three months ended September 30, 1997 as the Company  continued to shut down the
operations.  Expenses  for the three  months  ended  September  30,  1997 relate
primarily to amortization of certain assets and legal costs.

The  Company  reduced  its net loss to  $575,202  ($.16 per share) for the three
month  period  ended  September  30, 1997 from a net loss of $783,766  ($.26 per
share) for the three month period ended September 30, 1996. The net loss and net
loss per share  amounts  primarily  reflect  the  increased  gross  margins  and
reduction of STS expenses.


Liquidity and Sources of Capital

At September  30, 1997,  the Company had working  capital of $90,923,  including
$145,666 of cash and cash equivalents. The Company had a negative cash flow from
operations of $107,363 for the three month period ended September 30, 1997 and a
negative cash flow from  operations of $659,388 for the three month period ended
September  30, 1996.  The  reduction in the negative  cash flow from  operations
reflects the increased gross margins and reduced  expenses  discussed above. The
Company has also  accumulated a significant  deficit  during the period of fully
developing  its  product  lines and  requires  additional  financing  to achieve
profitable  operations.  These  conditions  raise  substantial  doubt  about the
Company's  ability  to  continue  as a  going  concern.  Management  is  seeking
additional  funds through  private  financings in order to continue  operations.
There can be no assurance that any such financings can be accomplished.


<PAGE>


                           PART II - OTHER INFORMATION



Item 1.  Legal Proceedings.

There have been no changes in pending legal  proceedings to which the Company is
a party or of which any of their property is subject from the items disclosed in
the Annual Report on Form 10-KSB for the year ended June 30, 1997.

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.

                  None

               (b)          Reports on Forms 8-K

                  None


<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 13, 1997                         /s/ Daniel A. Gordon
    ----------------------------------------      ------------------------------
                                                           Daniel A. Gordon
                                                        Chief Executive Officer