SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 10-Q

(Mark One)
[ X ]    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
         SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended May 31, 2000.


                                       OR

[   ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
        SECURITIES EXCHANGE ACT OF 1934.

For the transition period from                   to
                               -------------            -------------

                          Commission file number 0-4465
                                                 ------

                            eLEC Communications Corp.
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)


          New York                                              13-2511270
--------------------------------------------------------------------------------
(State or Other Jurisdiction                                  (I.R.S. Employer
  of Incorporation or Organization)                          Identification No.)


509 Westport Avenue, Norwalk, Connecticut                       06851
--------------------------------------------------------------------------------
(Address of Principal Executive Offices)                     (Zip Code)


Registrant's Telephone Number, Including Area Code           203-750-1000
                                                             ------------

--------------------------------------------------------------------------------
              (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  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 registrant's
classes of common stock, as of the latest practicable date: 13,600,249 shares of
common stock, par value $.10 per share, as of July 1, 2000.


<PAGE>


                          PART 1. FINANCIAL INFORMATION
                          -----------------------------

Item 1.  Financial Statements
<TABLE>
<CAPTION>

                   eLEC Communications Corp. and Subsidiaries
                      Condensed Consolidated Balance Sheets

                                                                    May 31, 2000        Nov. 30, 1999
                                                                    ------------        -------------
                                                                     (Unaudited)          (See note)
Assets
Current assets:
<S>                                                                 <C>                <C>
  Cash and cash equivalents                                         $    809,286       $    591,299
   Accounts receivable                                                 2,648,753          1,245,078
   Inventory                                                             541,123            876,460
   Prepaid expenses                                                       90,584             52,636
   Other current assets                                                   49,007            177,680
   Land and building held for sale                                       585,614            596,304
                                                                    ------------       ------------
Total current assets                                                   4,724,367          3,539,457
                                                                    ------------       ------------

Property and equipment at cost                                           878,731            322,734
Less accumulated depreciation                                            190,740            111,036
                                                                    ------------       ------------
Net property and equipment                                               687,991            211,698
                                                                    ------------       ------------

Other assets                                                             265,241             97,108
Investment in and advances to subsidiary                                 395,467            424,575
Investments under the equity method                                      998,125                 --
Investments under cost method                                            194,929          1,469,929
Goodwill                                                               3,271,160          1,554,370
                                                                    ------------       ------------
                                                                       5,124,922          3,545,982
                                                                    ------------       ------------
Total assets                                                        $ 10,537,280       $  7,297,137
                                                                    ============       ============

Liabilities and stockholders' equity Current liabilities:
  Loans payable to financial institutions and current
   maturities of long-term debt                                     $    450,549       $    523,695
  Due to related parties                                                      --             34,725
  Accounts payable                                                     1,746,835          1,302,714
  Accrued expenses and taxes                                           1,666,636          1,779,704
                                                                    ------------       ------------
Total current liabilities                                              3,864,020          3,640,838
                                                                    ------------       ------------

Long-term debt, less current maturities                                   25,068            197,772
                                                                    ------------       ------------

Stockholders' equity:
  Preferred stock, $.10 par value, 1,000,000 shares authorized
    Series B issued, 116 issued in 2000 and 196 issued in 1999                12                 20
  Common stock $.10 par value, 50,000,000 shares authorized,
    13,590,636 issued (2000), 11,287,164 issued (1999)                 1,359,064          1,128,715
  Capital in excess of par value                                      23,900,867         18,808,397
  Retained earnings (deficit)                                        (18,380,971)       (16,370,088)
  Treasury stock at cost                                                 (27,500)           (27,500)
  Treasury stock held by equity investee                                (113,906)                --
  Accumulated other comprehensive income (loss),
     accumulated foreign currency translation adjustment                 (89,374)           (81,017)
                                                                    ------------       ------------
    Total stockholders' equity                                         6,648,192          3,458,527
                                                                    ------------       ------------
Total liabilities and stockholders' equity                          $ 10,537,280       $  7,297,137
                                                                    ============       ============
</TABLE>


See notes to the condensed financial statements

Note:  The balance  sheet at November  30, 1999 has been  derived  from  audited
financial  statements at that date but does not include all the  information and
footnotes required by generally accepted accounting principles.

                                       2
<PAGE>



                   eLEC Communications Corp. and Subsidiaries
                 Condensed Consolidated Statements of Operations
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                          For the Six Months Ended            For the Three Months Ended
                                                       May 31, 2000      May 31, 1999      May 31, 2000     May 31, 1999
                                                       -------------    -------------      -------------   -------------
<S>                                                    <C>                <C>               <C>                <C>
Revenues                                               $  5,382,628       $ 1,667,290       $  3,156,395       $   952,380
Cost of revenues                                          3,760,693         1,131,808          2,276,237           605,485
                                                       ------------       -----------       ------------       -----------
Gross profit                                              1,621,935           535.482            880,158           346,895
                                                       ------------       -----------       ------------       -----------

Costs and expenses:
   Selling and general and administrative                 3,235,968           910,190          1,971,610           538,383
   Depreciation and amortization                            300,268           149,999            194,903            61,572
   Equity in loss of investee                               162,969         1,044,350             85,648           619,649
                                                       ------------       -----------       ------------       -----------
            Total costs and expenses                      3,699,205         2,104,539          2,252,161         1,219,604
                                                       ------------       -----------       ------------       -----------

Loss from operations                                     (2,077,270)       (1,569,057)        (1,372,003)         (872,709)
                                                       ------------       -----------       ------------       -----------
Other (income) expense:
Interest expense                                             26,874             3,082              7,711             2,402
Interest income                                             (25,982)           (3,492)           (17,731)           (3,459)
Miscellaneous income, net                                   (67,279)               --                 --                --
                                                       ------------       -----------       ------------       -----------
                                                            (66,387)             (410)           (10,020)           (1,057)
                                                       ------------       -----------       ------------       -----------
Loss from continuing operations                          (2,010,883)       (1,568,647)        (1,361,983)         (871,652)
                                                       ------------       -----------       ------------       -----------

Loss from discontinued operations                                --        (1,645,420)                --          (824,442)
                                                       ------------       -----------       ------------       -----------

Net loss                                               ($ 2,010,883)      ($3,214,067)      ($ 1,361,983)      ($1,696,094)
                                                       ============       ===========       ============       ===========

Basic and diluted loss per share
Continuing operations                                  ($      0.16)      ($     0.20)      ($      0.10)      ($     0.09)
Discontinued operations                                          --             (0.20)             (0.09)            (0.09)
Net loss                                               ($      0.16)      ($     0.40)      ($      0.10)      ($     0.18)
                                                       ============       ===========       ============       ===========
Weighted average number of common shares
outstanding                                              12,582,006         7,998,835         13,426,574         9,428,410
                                                       ============       ===========       ============       ===========

See notes to the condensed consolidated financial
statements

</TABLE>

                                       3

<PAGE>

                   eLEC Communications Corp. and Subsidiaries
                 Condensed Consolidated Statements of Cash Flows
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                           For the Six Months Ended
                                                                       May 31, 2000        May 31, 1999
                                                                      -------------       -------------
<S>                                                                    <C>               <C>
Net loss                                                               ($2,010,883)      ($3,214,067)
Adjustments to reconcile net loss
 to net cash used in operating activities:
    Depreciation and amortization                                          300,268           149,999
    Provision for losses in accounts receivable                            169,663            70,916
    Loss on disposal of fixed assets                                            --           167,547
     Equity in loss of investee                                            162,969         1,044,350
     Changes in operating assets and liabilities:
     Accounts receivable                                                (1,573,338)          180,326
     Inventory                                                             335,337           568,324
     Prepaid expenses                                                      (37,948)          (81,842)
     Other current assets                                                  139,363            13,093
     Other assets                                                         (168,133)           99,204
     Accounts payable and accrued expenses                                 331,053           393,586
                                                                       -----------       -----------
Net cash used in operating activities:                                  (2,351,649)         (608,564)
                                                                       -----------       -----------

Cash flows from investing activities:
   Purchase of property and equipment                                     (555,997)          (53,087)
   Proceeds from the sale of property and equipment                             --             6,000
   Acquisition of Telecarrier Services Inc.                                 (7,718)
   Proceeds from agreement to sell subsidiary                               29,108                --
                                                                       -----------       -----------
Net cash used in investing activities                                     (534,607)          (47,087)
                                                                       -----------       -----------

Cash flows from financing activities:
   (Decrease) increase in loans payable to financial institutions
     and related parties                                                  (280,575)          114,172
   Proceed from issuance of preferred stock                                     --           196,000
   Proceeds from exercise of warrants                                    1,751,609                --
   Proceeds from private placement of common stock                       1,379,500           364,100
   Proceeds from exercise of stock options                                 225,750            32,625
                                                                       -----------       -----------
Net cash provided by financing activities                                3,076,284           706,897
                                                                       -----------       -----------

Effect of exchange rate changes on cash                                     27,959           (27,981)
                                                                       -----------       -----------

Increase in cash and cash equivalents                                      217,987            23,265
Cash and cash equivalents at beginning of period                           591,299           352,489
                                                                       -----------       -----------
Cash and cash equivalents at the end of period                         $   809,286       $   375,754
                                                                       ===========       ===========
Supplemental disclosures of cash flow information
Cash paid during the period for:
    Interest
       Continuing operations                                           $    41,889       $     3,082
                                                                       -----------       -----------
       Discontinued operations                                                  --       $   156,548
                                                                                         -----------
     Income taxes                                                               --                --
</TABLE>


SeePart II, Item 2., Changes in Securities,  for non-cash  financing  activities
   during the six-month period ending May 31, 2000.

See notes to the condensed consolidated financial statements.


                                      4
<PAGE>


                            eLEC COMMUNICATIONS CORP.
                            -------------------------

        Notes To Condensed Consolidated Financial Statements (Unaudited)
        ----------------------------------------------------------------


Note 1-Basis of Presentation
----------------------------

The accompanying unaudited condensed consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial  information and with the  instructions to Form 10-Q and Article 10 of
Regulation  S-X.  Accordingly,  they do not include all of 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 accruals)  considered necessary for a fair presentation have
been included. Operating results for the six-month period ended May 31, 2000 are
not  necessarily  indicative  of the results  that may be expected  for the year
ended  November 30, 2000.  For further  information,  refer to the  consolidated
financial statements and footnotes thereto included in our Annual Report on Form
10-K for the year ended November 30, 1999.

  For the  six-month  period  ending May 31,  2000,  there  were no  significant
non-owner  sources of income or expense.  Accordingly,  a separate  statement of
comprehensive income has not been presented herein.


Note 2-Financing Arrangements
-----------------------------

On March 3, 1999, our subsidiary, Essex Communications,  Inc. ("Essex"), entered
into a Receivable  Sale Agreement with  Receivables  Funding Corp.  ("RFC") that
provides for Essex to sell up to $500,000 of its eligible  receivables to RFC on
a  periodic  basis  and to grant  RFC a  security  interest  in the  receivables
purchased  by RFC.  In December  1999,  Essex  increased  the amount of eligible
receivables it can sell to RFC to $1,000,000.  The  Receivables  Sales Agreement
does not  transfer  the risk of loss to RFC,  and has  been  treated  by us as a
financing for financial  statement  purposes.  As of May 31, 2000,  Essex had no
borrowings under the Agreement.

Our subsidiary,  Telecarrier Services Inc. ("Telecarrier"),  has a $150,000 line
of credit with a bank.  Amounts drawn on the line of credit bear interest at the
rate of 9.75% per annum.  The line is  payable  on demand  subject to sixty (60)
days written notice. At May 31, 2000, the entire line was utilized.

Our Canadian subsidiary,  Sirco International (Canada) Ltd., has a real property
mortgage  with its bank,  National  Bank of Canada.  The mortgage was payable in
monthly installments of approximately  $3,300,  including interest at 10.25% per
annum,  with a balloon  payment of  approximately  $295,000 due in July 2000. We
have informed the National Bank of Canada of our intention to sell this property
and the bank has agreed to continue the mortgage  until the property is sold. We
are actively pursuing  potential buyers for this property and intend to sell the
property upon receiving an acceptable  offer.  At May 31, 2000, the mortgage was
approximately $295,000.

                                       5
<PAGE>


Note 3-Investment in Subsidiary
-------------------------------

In March 2000,  we formed a wholly  owned  subsidiary,  TelcoSoftware.com  Corp.
("Telco").  On April 4, 2000,  Telco  purchased  all of the assets and  business
operations of Telecom Software Solutions, Inc., a telecommunications billing and
software  licensing  entity,  in exchange for 100,000 shares of our common stock
and a cash payment upon the completion of certain events.

Note 4-Discontinued Operations
------------------------------

On August 11, 1999, we sold certain assets and assigned  certain licenses of our
former domestic luggage division to Interbrand  L.L.C., a non-related  accessory
company,  and  subsequently  discontinued  operations of our  wholesale  luggage
segment.

The  operating  results  of our  former  wholesale  luggage  segment  have  been
accounted for as a  discontinued  operation  and the results of operations  have
been  excluded  from  continuing   operations  in  the  condensed   consolidated
statements of operations for all periods  presented,  including the prior period
financial  statements  in which we have  restated the  operating  results of our
former wholesale luggage segment as a discontinued  operation.  Interest expense
relating to borrowings by our former  wholesale  luggage  segment is included as
operating  expenses  of such  discontinued  segment.  Operating  results  of the
discontinued  operation for the three and six-month  periods ending May 31, 2000
and May 31, 1999 are as follows:
<TABLE>
<CAPTION>
                                            For the Six Months Ended             For the Three Months Ended
                                           May 31, 2000     May 31, 1999       May 31, 2000       May 31, 1999
                                          -------------    -------------       -------------     -------------

<S>                                    <C>                   <C>               <C>                <C>
Revenues                               $             --      $ 3,906,866       $          --      $ 2,134,416
Cost of revenues                                     --        3,479,048                  --        1,936,363
Operating expenses                                   --        1,971,443                  --          889,917
Other expense                                        --          101,795                  --          132,578
                                       ----------------      -----------       -------------      -----------
Loss from discontinued operations                    --      ($1,645,420)                 --      ($  824,442)
                                       ================      ===========       =============      ===========
</TABLE>

                                       6
<PAGE>


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

The  statements  contained  in this  Report  that are not  historical  facts are
"forward-looking   statements"   that   can  be   identified   by  the   use  of
forward-looking   terminology,   such  as  "estimates,"   "projects,"   "plans,"
"believes,"  "expects,"  "anticipates,"  "intends,"  or the negative  thereof or
other variations  thereon,  or by discussions of strategy that involve risks and
uncertainties.  We wish to caution the reader of the forward-looking statements,
that such  statements,  which are contained in this Report,  reflect our current
beliefs  with  respect to future  events and involve  known and  unknown  risks,
uncertainties  and other  factors,  including,  but not  limited  to,  economic,
competitive,  regulatory,  technological,  key  employee  and  general  business
factors affecting our operations,  markets, growth, services, products and other
factors  discussed  in our  other  filings  with  the  Securities  and  Exchange
Commission,  and that these  statements  are only estimates or  predictions.  No
assurances can be given regarding the  achievement of future results,  as actual
results may differ  materially as a result of risks facing us, and actual events
may  differ  from the  assumptions  underlying  statements  that  have been made
regarding  anticipated  events.  Factors  that may  cause  our  actual  results,
performance or  achievements,  or industry  results,  to differ  materially from
those  contemplated  by  such   forward-looking   statements  include,   without
limitation:  (1) the availability of additional funds to successfully pursue our
business  plan;  (2) our ability to  maintain,  attract and  integrate  internal
management,  technical  information and management  information systems; (3) the
time and expense to construct our planned network  operating  center and digital
subscriber  line  network;   (4)  the  cooperation  of  incumbent   carriers  in
implementing  the unbundled  network elements  platform  required by the Federal
Communications Commission; (5) our ability to market our services to current and
new customers and to generate  customer  demand for our products and services in
the  geographical  areas in which we can  operate;  (6) our  success  in gaining
regulatory  approval to access new  markets;  (7) our ability to  negotiate  and
maintain suitable  interconnection  agreements with incumbent carriers;  (8) the
availability  and  maintenance  of suitable  vendor  relationships,  in a timely
manner, at reasonable cost; (9) the impact of changes in telecommunication  laws
and  regulations;  (10) the intensity of competition;  and (11) general economic
conditions.  All written and oral forward-looking  statements made in connection
with this Report that are attributable to us or persons acting on our behalf are
expressly qualified in their entirety by these cautionary statements.  Given the
uncertainties that surround such statements, prospective investors are cautioned
not to place undue reliance on such forward-looking statements.

Overview
--------
eLEC  Communications  Corp. is a  full-service  telecommunications  company that
focuses on developing  integrated  telephone service in the emerging competitive
local  exchange  carrier  ("CLEC")  industry.  We  offer  an  integrated  set of
telecommunications  products  and  services,  including  local  exchange,  local
access,  domestic and  international  long distance  telephone,  calling  cards,
paging,  Internet access,  dedicated access,  Web site design, Web site hosting,
Internet-based   yellow-pages   directory   listings  and  other   enhanced  and
value-added  telecommunications  services  tailored  to meet  the  needs  of our
customers  and the  growing  marketplace  demand  from  small- and  medium-sized
businesses for reliability and speed.

The nature of our  telecommunications  business  is rapidly  evolving  and has a
limited operating history. It has rapidly grown and is now substantially  larger
in revenues than a specialty  retail  business we also own, which sells products
over  the  Internet  and  in  three  retail  stores.  As a  result,  we  believe
period-to-period  comparisons of our revenues and operating  results,  including

                                       7
<PAGE>

our network  operations  and other  operating  expenses as a percentage of total
revenue,  are not  meaningful  and should not be relied  upon as  indicators  of
future  performance.  We  also  believe  our  historical  growth  rates  are not
indicative of future growth rates.

We  primarily  utilize the  Unbundled  Network  Elements  Platform  ("UNE-P") to
provide local  telephone  service to our customers.  The UNE-P service  offering
allows us to lease, on an as-needed basis,  multiple  unbundled network elements
and combine them into our own full service  platform.  The major  categories  of
network elements include loops, local circuit-switching  facilities,  operations
support systems,  network interface devices,  transport between central offices,
and signaling and call-related  databases.  We have chosen this platform to grow
our customer base because it allows us to rapidly enter new markets with minimal
capital  expenditures.  For  example,  we can  build  a  customer  base  without
deploying either a local switch or last-mile  infrastructure.  Instead of buying
and  maintaining  our own  equipment  in the  field,  we  utilize  the  reliable
equipment owned by the Regional Bell Operating Companies and focus our resources
on building a customer base.

We are in the process of applying for certification in 48 states to operate as a
facilities-based CLEC so that we can operate under the UNE-P service offering in
the entire  continental United States. We are also building a network operations
center in Norwalk,  Connecticut to provide us with  surveillance  and deployment
capabilities  for  high-speed  Internet  access  via  Digital  Subscriber  Lines
("DSL").  We plan to build our own  packet-switched  data  network,  taking into
consideration   our  existing   voice   customer   base,   and   utilizing   the
packet-switched  technology to route local and long distance  voice traffic over
the Internet.

Building and expanding our business has required and will continue to require us
to make  significant  expenditures  in  excess of the  amounts  of cash that our
business is generating.  As part of our "smart build" network strategy, we defer
the  purchase of equipment in the field and focus first on building our customer
base.  We believe  our  strategy of leasing the  circuit-switched  networks  and
building our own packet-switched  network,  will help our operations to generate
positive cash flow much sooner than the strategy used by other CLECs of building
a circuit-switched network before a customer base has been established.

We have experienced  operating losses and generated  negative cash flow since we
began  operating as a CLEC and we expect to continue to generate  negative  cash
flow for a period of time while we  continue  to expand our  network and develop
product  offerings and our customer  base. We cannot assure you that our revenue
or  customer  base will  increase  or that we will be able to achieve or sustain
positive cash flow.

Three and Six Months Ended May 31, 2000 vs. May 31, 1999
--------------------------------------------------------

Continuing operations

Our net  revenues  for the  three  and  six-month  periods  ended  May 31,  2000
increased  by  approximately   $2,204,000  and  $3,715,000,   respectively,   or
approximately  231% and 223%,  respectively,  to  approximately  $3,156,000  and
$5,383,000,  respectively, as compared to approximately $952,000 and $1,667,000,
respectively, reported for the same periods in fiscal 1999.

                                       8
<PAGE>


Net  revenues of our  telecommunications  division  increased  by  approximately
$2,218,000  and  $3,606,000,  respectively,  or  approximately  508%  and  451%,
respectively, to approximately $2,655,000 and $4,405,000,  respectively, for the
three and six-month periods ending May 31, 2000 from approximately  $437,000 and
$799,000,  respectively,  reported  for the same  periods  in fiscal  1999.  The
increase was  attributable to the rapid growth in the number of installed access
lines  that we  provisioned  during the twelve  months  ended May 31,  2000 from
approximately  2,100 installed  access lines as of May 31, 1999 to approximately
24,500 installed access lines as of May 31, 2000.

Net revenues of our specialty retail  division,  consisting of the operations of
Airline Ventures, Inc. ("AVI"), decreased by approximately $14,000 and increased
by approximately  $109,000,  respectively,  for the three and six-month  periods
ending May 31, 2000 to approximately $502,000 and $977,000,  respectively,  from
approximately $516,000 and $868,000,  respectively,  reported in the same fiscal
periods in 1999.  AVI  operates  three retail  stores in Texas for  professional
airline  flight-crew  members and sells pilot uniforms,  study guides and travel
products. Its products are sold on the E-commerce site, www.avishop.com.
                                                        ---------------
Our gross  profit  for the three  and  six-month  periods  ending  May 31,  2000
increased  by   approximately   $533,000  and   $1,087,000,   respectively,   to
approximately $880,000 and $1,622,000, respectively, from approximately $347,000
and $535,000, respectively, reported in the same fiscal periods in 1999, and the
gross  profit  percentage  decreased to 27.9% from 36.4% and to 30.1% from 32.1%
for the three and six months  ended May 31, 2000 as compared to the prior fiscal
period.  The  decrease  in  gross  profit  percentage  is  attributable  to  the
significant  increase  in  telecommunications  revenue  during the  fiscal  2000
periods.  Although  gross  margins  for  the  telecommunications  division  have
increased in the fiscal 2000  periods,  they remain lower than the gross margins
of the specialty retail division. The telecommunications division recorded gross
margins  of  approximately  25.2% and 27.4% for the three and six month  periods
ending May 31, 2000,  as compared to gross  margins of  approximately  24.8% and
18.5% for the three and six month  periods  ending May 31, 1999.  We  anticipate
that the gross margins in our  telecommunications  division will decrease in the
third quarter until we are able to switch more of our customer base to the UNE-P
service  offering.  Approximately 65% of our customers were on the UNE-P service
offering as of May 31, 2000.  Our specialty  retail  division has recorded gross
margins of between  42% and 46% for the three and six month  periods  ending May
31, 2000 and 1999. We expect the gross margin of our specialty retail segment to
continue at its current level of over 40%.

Selling,   general  and  administrative   expenses  increased  by  approximately
$1,433,000  and  $2,326,000,   respectively,  to  approximately  $1,972,000  and
$3,236,000,  respectively, for the three and six months ending May 31, 2000 from
approximately  $538,000  and  $910,000,  respectively,  reported in prior fiscal
period.  A major portion of this increase was  attributable  to the costs of our
expanded  marketing  efforts and to the labor and facility  expenses incurred by
our telecommunications division. This increase in operating expenses is directly
related to the significant increase in telecommunications  revenues in the three
and six months  ending May 31, 2000 as compared  to the prior  fiscal  period in
1999.

At May 31, 2000, we owned  approximately 27% of the capital stock of RiderPoint,
Inc.  ("RiderPoint").  RiderPoint  specializes in the development of comparative
rating  insurance  software and sells  motorcycle  insurance  through its wholly
owned  subsidiary.  As our  investment  in RiderPoint is accounted for under the
equity of accounting,  we are required to include a portion of RiderPoint's  net
loss in our results of  operations.  For the three and six months ending May 31,

                                       9
<PAGE>

2000,  we  have  recorded  a  loss  of   approximately   $86,000  and  $163,000,
respectively,  relating to our investment in RiderPoint.  As of May 31, 1999, we
owned 19% of  RiderPoint,  which  was  accounted  for  under the cost  method of
accounting.

At May 31, 1999, we were the largest  shareholder  of Access One  Communications
Inc. ("Access One"), owning approximately 30.6% of Access One' capital stock. As
our  investment  in Access  One was  accounted  for under the  equity  method of
accounting,  we were  required to include a portion of Access  One's net loss in
our results of operations.  For the three and six months ending May 31, 1999, we
recorded losses of approximately $620,000 and $1,044,000, respectively, relating
to our  investment  in Access One. As of November 30, 1999,  our  investment  in
Access One was recorded at zero. Consequently,  we no longer recognize our share
of any operating losses generated by Access One.

Interest  expense  for the three  and  six-month  periods  ending  May 31,  2000
increased by  approximately  $5,000 and $24,000,  respectively,  from the amount
reported in the three and six-month periods ending May 31, 1999 primarily due to
increased average borrowings.

Miscellaneous  income for the  six-month  period  ending May 31, 2000 of $67,000
resulted primarily from the sale of shares of Access One common stock.

Discontinued operations

On August 11, 1999, we sold certain assets and assigned  certain licenses of our
domestic luggage division to Interbrand L.L.C., a non-related accessory company,
and subsequently discontinued operations of our wholesale luggage segment.

The operating  results of our wholesale  luggage segment have been accounted for
as a  discontinued  operation and the results of  operations  have been excluded
from  continuing  operations  in  the  condensed   consolidated   statements  of
operations  for all periods  presented,  including  the prior  period  financial
statements  in  which we have  restated  the  operating  results  of our  former
wholesale luggage segment as a discontinued operation. Interest expense relating
to borrowings by our former  wholesale  luggage segment is included as operating
expenses of such discontinued segment.

We reported no results from discontinued  operations for the three and six-month
periods ending May 31, 2000 as compared to losses of approximately  $824,000 and
$1,645,000,  respectively,  for the three and six-month  periods  ending May 31,
1999.

Liquidity and Capital Resources
-------------------------------
At May 31, 2000,  we had cash and cash  equivalents  available of  approximately
$809,000,  and working capital of approximately $860,000 as compared to cash and
cash equivalents available of approximately of $376,000,  and working capital of
approximately $126,000 at May 31, 1999.

Net cash used in operating activities (including discontinued operations for the
first half of fiscal 1999) aggregated  approximately  $2,352,000 and $609,000 in
fiscal  periods ended May 31, 2000 and 1999,  respectively.  The increase in net
cash used in operating activities of approximately  $1,754,000 was primarily the
result of an  increase  of  approximately  $1,573,000  in  accounts  receivable,
resulting   from  the   significant   increase  in  revenues   recorded  by  our

                                       10
<PAGE>

telecommunications  division,  as compared to the comparable quarterly period in
1999,  for  which  accounts  receivable  was a source  of cash of  approximately
$180,000.  The impact of this change in accounts receivable was partially offset
by the  decrease in the net loss in the first half of fiscal 2000 as compared to
the prior year period.  On March 3, 1999, our  subsidiary,  Essex entered into a
Receivable Sale Agreement with Receivables  Funding Corp.  ("RFC") that provides
for  Essex  to sell  up to  $500,000  of its  eligible  receivables  to RFC on a
periodic basis and to grant RFC a security interest in the receivables purchased
by RFC. In December 1999, Essex increased the amount of eligible  receivables it
can sell to RFC to $1,000,000. The Receivables Sales Agreement does not transfer
the risk of loss to RFC, and has been treated by the Company as a financing  for
financial statement purposes.  As of May 31, 2000, Essex had no borrowings under
the Agreement.

Net cash used in  investing  activities  aggregated  approximately  $535,000 and
$47,000 in the six months ended May 31, 2000 and 1999,  respectively.  Cash used
in investing  activities in fiscal 2000 was for the purchase of fixed assets and
the  acquisition  of  Telecarrier.  The source of cash provided  from  investing
activities  in fiscal 2000 was the proceeds  from the 1992 sale of a subsidiary.
Cash used in  investing  activities  fiscal  1999 was for the  purchase of fixed
assets offset by the proceeds from the sale of assets.

Net cash provided by financing activities  aggregated  approximately  $3,076,000
and  $707,000 in the six months ended May 31, 2000 and 1999,  respectively.  For
the  period  ended May 31,  2000,  net cash  provided  by  financing  activities
resulted   primarily  from  the  proceeds  from  the  exercise  of  warrants  of
approximately  $1,752,000;  the net proceeds from a private  placement of common
stock of  approximately  $1,380,000;  and the  proceeds of the exercise of stock
options of approximately  $226,000. For the six-month period ended May 31, 1999,
net cash provided by financing  activities resulted from the net proceeds of the
issuance of preferred stock of approximately  $196,000;  the net proceeds from a
private  placement  of common stock of  approximately  $364,000 and the proceeds
from the exercise of stock options of approximately $32,000.

Our subsidiary,  Telecarrier, has a $150,000 line of credit with a bank. Amounts
drawn on the line of credit bear  interest  at the rate of 9.75% per annum.  The
line is payable on demand subject to sixty (60) days written notice.  At May 31,
2000, the entire line was utilized.

Our Canadian subsidiary,  Sirco International (Canada) Ltd., has a real property
mortgage  with its bank,  National  Bank of Canada.  The mortgage was payable in
monthly installments of approximately  $3,300,  including interest at 10.25% per
annum,  with a balloon  payment of  approximately  $295,000 due in July 2000. We
have informed the National Bank of Canada of our intention to sell this property
and the bank has agreed to extend the monthly payments on the mortgage until the
property is sold. We are actively  pursuing  potential  buyers for this property
and intend to sell the property upon receipt of an acceptable  offer. At May 31,
2000, the mortgage was approximately $295,000.

For the six  months  ended May 31,  2000,  we spent  approximately  $556,000  in
capital  expenditures.  We  plan  to  make an  additional  $300,000  in  capital
expenditures in fiscal 2000 in conjunction  with the  establishment of a network
operations  center in Norwalk,  Connecticut  and with the planned  expansion  to
become a nationwide  CLEC. We anticipate  financing these  expenditures  through
equipment leases and by using our existing working capital.

                                       11
<PAGE>


As of May 31, 2000, we owned  approximately 18% of the outstanding capital stock
on a  fully-diluted  basis of Access One. On March 24,  2000,  Talk.com  Inc., a
Delaware corporation ("Talk"), Aladdin Acquisition Corp., a Delaware corporation
and a wholly-owned  subsidiary of Talk ("Merger Sub"),  and Access One,  entered
into an Agreement and Plan of Merger (the "Merger  Agreement"),  which provides,
among other  things,  for the merger (the  "Merger") of Merger Sub with and into
Access One.  Upon  consummation  of the Merger,  Access One will become a wholly
owned  subsidiary of Talk. Under the terms of the Merger  Agreement,  Access One
stockholders will receive 0.571428 shares of Talk's common stock in exchange for
each share of Access One common stock held by such stockholders at the effective
time of the Merger. It is expected that, as a result of the Merger, shareholders
of Access One will receive an aggregate of approximately  14.3 million shares of
Talk's common stock, of which we will receive  approximately 2.5 million shares.
The transaction has been approved by the Boards of Directors of each of Talk and
Access One, but is contingent upon, among other things, approvals of both Talk's
and Access One's stockholders,  certain regulatory approvals (including approval
under  the  Hart-Scott-Rodino  Antitrust  Improvements  Act of 1976 and  certain
telecommunications  regulatory approvals), and other customary conditions. Under
a Voting Agreement  entered into on March 24, 2000, the holders of approximately
67.8% of Access One's  outstanding  common stock have agreed to vote in favor of
the Merger.  In connection  with the Merger,  Access One has also entered into a
five-year agreement to provide certain  telecommunications  services to Talk and
its  subsidiaries.  Access One has the right to terminate  that agreement if the
merger  with  Talk  is  not  consummated.  Access  One  shareholders  anticipate
receiving Talk common stock that has been registered under the Securities Act of
1933 for  resale,  subject to an  agreement  to not sell the stock  until  three
months after the registration statement is declared effective,  or until October
31, 2000, whichever occurs sooner.

Although  our  operating  activities  may  provide a source  of cash in  certain
periods,  to the extent we continue to experience rapid growth in the future, we
anticipate that our operating and investing activities will use large amounts of
cash in excess of the cash generated from  operating  activities.  Consequently,
future rapid growth will require us to liquidate  our  investment  in Access One
(or  Talk),  or  obtain  additional  equity  or debt  financing  that may not be
available on attractive  terms, or at all, or may be dilutive.  If we are unable
to obtain a source of funding on terms that we consider to be attractive, we may
be required to modify,  delay or abandon our  current  business  plan,  which is
likely to materially and adversely affect our business.


                                       12


<PAGE>

                            eLEC COMMUNICATIONS CORP.
                            PART II-OTHER INFORMATION

Item 2.              Changes in Securities
-------              ---------------------

                     In April 2000, we issued 100,000 shares of our common stock
                     in  conjunction  with the  purchase  of all the  assets and
                     business  of  Telecom   Software   Solutions,   Inc.   Such
                     transaction  was  effected  pursuant to Section 4(2) of the
                     Securities Act of 1933, as amended

                     In March,  April and May 2000,  we issued an  aggregate  of
                     136,111, 136,111 and 25,000  shares,  respectively,  of our
                     common stock in conjunction  with the exercise of warrants.
                     Such  transactions were effected pursuant to Section4(2) of
                     the Securities Act of 1933, as amended

                     In  March  2000,  a holder  of 80  shares  of our  Series A
                     Preferred Stock,  par value $.10,  converted such shares of
                     preferred  stock into  80,000  shares of our common  stock.
                     Such  transaction was effected  pursuant to Section 3(a)(9)
                     of the Securities Act of 1933, as amended.

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

                     The 2000 Annual Meeting of  Shareholders  (the "2000 Annual
                     Meeting")  was  duly  held on June 9,  2000.  All  director
                     nominees to the Board of Directors were duly elected at the
                     2000 Annual Meeting. Set forth below is a brief description
                     of each other matter voted upon at the 2000 Annual  Meeting
                     and the results of vote with respect to each matter.

                               (i)        The   approval   and  adoption  of  an
                                          amendment  to our  1995  Stock  Option
                                          Plan to increase  the number of shares
                                          of  Common  Stock  that may be  issued
                                          there under from  2,400,000  shares to
                                          3,400,000   shares.   The  information
                                          contained  in  our  Proxy   Statement,
                                          dated   April  5,  2000  at  pages  12
                                          through    14   under   the    heading
                                          "Amendment  to the 1995  Stock  Option
                                          Plan"  is  incorporated  by  reference
                                          herein.

                                            Votes For.................7,380,592
                                            Votes Against.............  263,695
                                            Votes Abstaining.........    83,420
                                            Non-Vote..................5,895,677

                                       13
<PAGE>


                               (ii)       The   approval   and  adoption  of  an
                                          amendment to the Company's Certificate
                                          of   Incorporation   to  increase  the
                                          number of authorized  shares of Common
                                          Stock   from   20,000,000   shares  to
                                          50,000,000   shares.  The  information
                                          contained in our Proxy Statement dated
                                          April 5, 2000 at pages 15 and 16 under
                                          the heading  "Increase the  Authorized
                                          Capital   Stock  of  the  Company"  is
                                          incorporated by reference herein.

                                           Votes For...............11,595,341
                                           Votes Against...........   220,269
                                           Votes Abstaining........    50,300


                                       14


<PAGE>


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

                     (a)    Exhibits.
                            None

27--                 Financial Data Schedule.

                     (b)    Reports on Form 8-K
                     None.




                                       15
<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 hereunto duly authorized.

                                                      eLEC Communications Corp.



  July 14, 2000                              By:  /s/ Paul H. Riss
-------------------                               -----------------------------
Date                                              Paul H. Riss
                                                  Chief Executive Officer
                                                  (Principal Financial and
                                                  Accounting Officer)


                                       16
<PAGE>


                                  EXHIBIT INDEX
                                  -------------

No.                    Description                         Page No.
---                    -----------                         --------

27                   Financial Data Schedule.                18


                                       17