UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549

                                   FORM 10-QSB

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


For Quarter Ended: June 30, 2000                 Commission File Number 33-33662
                   -------------                                        --------



                  MOLECULAR DIAGNOSTICS AND THERAPEUTICS, INC.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)



            COLORADO                                     84-1191749
-------------------------------             ------------------------------------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
 incorporation or organization)


1880 Industrial Circle, Suite B-3, Longmont, Colorado           80501
-----------------------------------------------------         ----------
     (Address of principal executive offices)                 (Zip code)

                                 (303) 485-8500
              ----------------------------------------------------
              (Registrant's telephone number, including area code)


         (Former name, former address and former fiscal year, if changed
                              since last report.)

Indicate by check 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  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

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

Common stock, no par value                            9,068,123
--------------------------       -----------------------------------------------
       Class                     Number of shares outstanding at August 11, 2000




                     This document is comprised of 8 pages.


<PAGE>


FORM 10-QSB
1ST QUARTER

                                      INDEX

                                                                          Page

PART I  FINANCIAL INFORMATION

     Item 1.  Financial Statements *

     Condensed balance sheet, June 30, 2000 (Unaudited).....................3

     Condensed statements of operations, three months ended
        June 30, 2000 (Unaudited) and 1999 (Unaudited), and
        February 19, 1992 (inception) through June 30, 2000 (Unaudited).....4

     Condensed statements of cash flows, three months ended
        June 30, 2000 (Unaudited) and 1999 (Unaudited), and
        February 19, 1992 (inception) through June 30, 2000 (Unaudited).....5

     Notes to condensed financial statements (Unaudited)....................6

     Item 2.  Plan of Operation.............................................7


PART II  OTHER INFORMATION..................................................7

     Item 1.  Legal Proceedings

     Item 2.  Changes in Securities

     Item 3.  Defaults Upon Senior Securities

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

     Item 5.  Other Information

     Item 6.  Exhibits and Reports on Form 8K

     Signatures.............................................................8






* The  accompanying  financial  statements  are not  covered  by an  Independent
Certified Public Accountant's report.

                                       2

<PAGE>

Part I.  Item 1.  Financial information

                  MOLECULAR DIAGNOSTICS AND THERAPEUTICS, INC.
                          (A Development Stage Company)

                             Condensed Balance Sheet
                                   (Unaudited)

                                  June 30, 2000

                                     ASSETS

<TABLE>
<CAPTION>
CURRENT ASSETS
<S>                                                                                          <C>
     Cash....................................................................................$         9,687
                                                                                             ---------------
                                                                        TOTAL CURRENT ASSETS           9,687

FURNITURE AND EQUIPMENT, less accumulated depreciation of $85,294............................         19,147

OTHER ASSETS

     Earnest money deposit...................................................................        114,750
     Other...................................................................................          2,981
                                                                                             ---------------
                                                                                             $       146,565
                                                                                             ===============

                      LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
     Accounts payable and accrued liabilities................................................$        86,197
                                                                                             ---------------
                                                                   TOTAL CURRENT LIABILITIES          86,197
                                                                                             ---------------

SHAREHOLDERS' EQUITY:
     Preferred stock, no par value; 5,000,000 shares authorized;
        -0- shares issued and outstanding....................................................              -
     Common stock, no par value; 45,000,000 shares authorized;
        9,068,123 shares issued and outstanding..............................................      3,142,446
     Deferred offering costs.................................................................       (314,201)
     Deficit accumulated during development stage............................................     (2,767,877)
                                                                                             ---------------
                                                                  TOTAL SHAREHOLDERS' EQUITY          60,368
                                                                                             ---------------

                                                                                             $       146,565
                                                                                             ===============
</TABLE>


            See accompanying notes to condensed financial statements

                                       3
<PAGE>




                  MOLECULAR DIAGNOSTICS AND THERAPEUTICS, INC.
                          (A Development Stage Company)

                       Condensed Statements of Operations
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                                                       February 19,
                                                                                                           1992
                                                                      Three Months Ended                (Inception)
                                                                           June 30,                       through
                                                                  -----------------------------           June 30,
                                                                    2000               1999                 2000
                                                                  ----------        -----------        --------------

<S>                                                               <C>               <C>                 <C>
COSTS AND EXPENSES:
     Salaries and payroll taxes.................................. $   70,289        $    53,860         $     769,194
     Stockbased compensation.....................................        -                  -                 447,228
     Research and development costs..............................        -               26,687               639,173
     Contract labor..............................................        600             31,150               249,250
     Rent........................................................      6,171              9,192               179,530
     Web site, graphics and computer services....................      4,500                -                  75,937
     Professional fees...........................................      5,983              6,248               100,453
     Depreciation................................................      4,213              4,361                85,201
     Other general and administrative............................     11,313             15,168               221,674
                                                                  ----------        -----------         -------------
                                            OPERATING LOSS          (103,069)          (146,666)           (2,767,640)


INTEREST EXPENSE.................................................         -                  -                   (237)
                                                                  ----------        -----------         -------------

                                               LOSS BEFORE
                                              INCOME TAXES          (103,069)          (146,666)           (2,767,877)


INCOME TAXES (Note B)                                                    -                  -                     -
                                                                  ----------        -----------         -------------

                                                  NET LOSS        $ (103,069)       $  (146,666)        $  (2,767,877)
                                                                  ==========        ===========         =============

Basic and diluted loss per common share.......................... $    (0.01)       $     (0.02)
                                                                  ==========        ===========

Basic and diluted weighted average
     common shares outstanding...................................  9,068,123          8,159,642
                                                                  ==========        ===========
</TABLE>




            See accompanying notes to condensed financial statements

                                       4
<PAGE>


                  MOLECULAR DIAGNOSTICS AND THERAPEUTICS, INC.
                          (A Development Stage Company)

                       Condensed Statements of Cash Flows
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                                                       February 19,
                                                                                                           1992
                                                                      Three Months Ended                (Inception)
                                                                           June 30,                       through
                                                                  -----------------------------           June 30,
                                                                    2000               1999                 2000
                                                                  ----------        -----------        --------------

<S>                                                               <C>               <C>                 <C>
                                           NET CASH (USED IN)
                                        OPERATING ACTIVITIES      $   (120,179)         $ (138,074)      $ (2,260,881)
                                                                  ------------          ----------       ------------

INVESTING ACTIVITIES
     Payments for furniture and equipment........................       (3,389)             (4,189)          (104,441)
                                                                  ------------          ----------       ------------
                                           NET CASH (USED IN)
                                        INVESTING ACTIVITIES            (3,389)             (4,189)          (104,441)
                                                                  ------------          ----------       ------------

FINANCING ACTIVITIES
     Proceeds from the sale of preferred and
        common stock..............................................         -               145,850          2,924,840
     Payments for the repurchase of common stock..................         -                   -               (5,873)
     Payments for offering costs..................................     (21,862)                -             (543,958)
                                                                  ------------          ----------       ------------
                               NET CASH PROVIDED BY (USED IN)
                                        FINANCING ACTIVITIES           (21,862)            145,850          2,375,009
                                                                  ------------          ----------       ------------

NET CHANGE IN CASH................................................    (145,430)              3,587              9,687
     Cash, beginning of period....................................     155,117               4,883
                                                                  ------------          ----------       ------------

CASH, END OF PERIOD...............................................$     9,687          $    8,470       $      9,687
                                                                  ============          ==========       ============
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
     Cash paid for interest.......................................$        -            $      -         $        237
                                                                  ============          ==========       ============
     Cash paid for income taxes...................................$        -            $      -         $        -
                                                                  ============          ==========       ============


NONCASH INVESTING AND FINANCING TRANSACTIONS:
     Common stock issued as earnest money as part
        of a land purchase agreement..............................$        -            $       -        $    114,750
                                                                  ============          ==========       ============
     Accrued offering costs.......................................$        -            $       -        $    108,649
                                                                  ============          ==========       ============
</TABLE>


            See accompanying notes to condensed financial statements




                                       5
<PAGE>

                  MOLECULAR DIAGNOSTICS AND THERAPEUTICS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (Unaudited)

                                  June 30, 2000

Note A:  Basis of presentation

The financial  statements  presented herein have been prepared by the Company in
accordance with the accounting  policies in its Form 10-KSB dated March 31, 2000
and should be read in conjunction with the notes thereto.

In the  opinion  of  management,  all  adjustments  (consisting  only of  normal
recurring  adjustments)  which are necessary to provide a fair  presentation  of
operating  results for the interim period  presented have been made. The results
of operations for the periods  presented are not  necessarily  indicative of the
results to be expected for the year.

Interim financial data presented herein are unaudited.

Note B:  Income taxes

The Company  records its income taxes in accordance  with Statement of Financial
Accounting Standard No. 109, "Accounting for Income Taxes". The Company incurred
net operating losses during the three months ended June 30, 2000  resulting in a
deferred tax asset, which was fully allowed for; therefore,  the net benefit and
expense resulted in $-0- income taxes.

Note C:  Land purchase contract

On June 15, 2000, the Company agreed to an extension of the closing date for the
land purchase  contract signed on March 8, 2000. The closing date was amended to
be a date  four  months  and ten days  after the  seller  records  an  approved,
corrected plat of Filing II of Vista Commercial Center, and gives written notice
to the Company of such recording.

The Company  issued 102,000  shares of its  restricted  common stock,  valued at
$114,750,  as an earnest  money  deposit  under the terms of the  contract.  The
Company's  ability to recover  the cost of its  $114,750  deposit and to pay the
remainder of the  purchase  price of  $1,083,980  is dependent on the timing and
success of the Company's proposed stock offering.

Note D:  Subsequent event

At the time of the  preparation of this Form, the Company was in negotiations to
obtain $500,000 in exchange for a promissory  note.  Proceeds from the note will
be used to construct the Company's  manufacturing  facility,  purchase equipment
and for working capital.


                                       6
<PAGE>

Part I.  Item 2.     Plan of operation

                  MOLECULAR DIAGNOSTICS AND THERAPEUTICS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

PLAN OF OPERATION

The Company is in the process of  conducting  a public stock  offering  under an
effective  registration  statement on form SB-2 on file with the  Securities and
Exchange Commission. The Company plans to sell a minimum of 200,000 shares and a
maximum  of  1,000,000  shares of its common  stock.  If the  Company  sells the
minimum  number of shares  offered,  the net proceeds will enable it to open the
manufacturing  facility and to begin  manufacturing  and  marketing.  Should the
Company not sell the minimum number of shares offered,  it will continue to seek
debt or equity financing through private sources in an amount sufficient to open
the  manufacturing  facility and then attempt to fulfill the business  plan from
anticipated  earnings.  The  Company  plans to finance  the  acquisition  of the
cyclotron,  the  production  facility  and  the  majority  of  its  robotic  and
manufacturing equipment needed to implement its business plan.

The  Company  plans to hire up to 21  additional  employees  during the first 12
months following  funding,  should the Company sell the maximum number of shares
offered.  The  increase  in  employees  will be related to the amount of funding
received.

Results of operations

No income  producing  operations were conducted  during the most recent quarter.
Expenses,  since  year-end  consisted  of  salaries  and  payroll  taxes,  rent,
professional fees, printing and other general and administrative costs.

Financial condition

During the 3 months ended June 30, 2000,  the Company's  cash balance  decreased
from $155,117 at March 31, 2000 to $9,687 at June 30, 2000. The decrease was due
to  the  payment  of  salaries  and  payroll  taxes  ($70,289),  offering  costs
($21,862),   general  and  administrative   costs  ($27,041),   and  liabilities
($26,238).  As of June 30, 2000, the Company had not raised proceeds through its
initial  public  offering;  however,  as of  the  date  of  this  form,  it  was
negotiating to obtain  $500,000 in exchange for a promissory note (see Note D to
the condensed financial statements).

PART II - OTHER INFORMATION Items 1 through 5 - No response required.

Item 6 - Exhibits and reports on Form 8-K.

         (a)  Exhibits              27 - Financial Data Schedule.

         There were no reports on Form 8-K.


                                       7
<PAGE>

SIGNATURES

The  financial  information  furnished  herein  has  not  been  audited  by  and
independent accountant;  however, in the opinion of management,  all adjustments
(only consisting of normal recurring accruals) necessary for a fair presentation
of the results of operations  for the three months ended June 30, 2000 have been
included.

Pursuant to the  requirements  of the  Securities  and Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                   MOLECULAR DIAGNOSTICS AND THERAPEUTICS, INC.
                                       (Registrant)


DATE:    August 11, 2000           BY:
         ---------------               ---------------------------------------
                                                   Malcolm Benedict, President











                                       8