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


                                   FORM 10-QSB

[X]     Quarterly report pursuant to Section 13 or 15(d) of the Securities 
        Exchange Act of 1934: For the quarterly period ended: March 31, 1999

                                       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: 000-25496

                            HYPERDYNAMICS CORPORATION
             (Exact name of registrant as specified in its charter)

                 Delaware                                    87-0400335
       (State or other jurisdiction                         (IRS Employer
     of incorporation or organization)                    Identification No.)

                         2656 South Loop West, Suite 103
                              Houston, Texas 77054
          (Address of principal executive offices, including zip code)

                             RAM-Z ENTERPRISES, INC.
                           (Registrant's former name)

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 ___

                      APPLICABLE ONLY TO CORPORATE ISSUERS

As of March 31, 1999, 12,349,503 shares of common stock, $0.001 par value, were 
outstanding. 
Transitional Small Business Disclosure Format (check one): Yes [  ] No [X]



<PAGE>


                                Table of Contents

Part I        Financial Information
<TABLE>
<S>                                                                                                      <C>    

    Item 1      Financial Statements                                                                      3
          Consolidated Balance Sheet at
                 March 31, 1999 (unaudited)                                                               3
          Consolidated Statements of Income for the three
                 and nine months ended March 31, 1999
                 and 1998 (both unaudited)                                                                4
          Consolidated Statements of Stockholders' Equity
                 for the nine months ended March 31,
                 1999 and 1998 (both unaudited)                                                           5
          Consolidated Statements of Cash Flows for the nine
                 months ended March 31, 1999 and 1998
                 (both unaudited)                                                                         6
          Notes to Consolidated Financial Statements                                                      7
    Item 2      Management's Discussion and Analysis of Financial
                Condition and Results of Operations                                                       9
Part II       Other Information

    Item 6      Exhibits and Reports on Form 8-K                                                         13
          (a)    Exhibits
          (b)    Reports on Form 8-K
    Signatures                                                                                           14
</TABLE>


<PAGE>


                          Part 1 Financial Information


    Item 1     Financial Statements
                            HYPERDYNAMICS CORPORATION
                                  Balance Sheet
                                 March 31, 1999

<TABLE>
<S>                                                                                  <C>

                   Assets
                   Current Assets
                      Cash                                                            7,643
                      Accounts receivable - Trade                                   120,738
                      Accounts receivable - Other                                     1,243
                      Inventory                                                      81,884
                      Prepaid expenses                                               20,361
                      Revenue interest current portion                               35,970
                                                                             --------------------
                                                       Total Current Assets         267,839
                   Property and Equipment                                           108,309
                   Other Assets
                        Revenue Interest net of current portion                      73,402
                        Intangible assets - net                                      43,350
                        Deposits and other                                           11,287
                                                                             --------------------
                      Total other assets                                            128,039
                                                                             --------------------

                   Total Assets                                                     504,187
                                                                             ====================

                   Liabilities and Stockholders' Equity
                   Current Liabilities
                      Accounts payable - Trade                                      185,847
                      Accrued expenses                                               21,320
                      Accrue taxes                                                    1,142
                                                                             --------------------
                                                  Total Current Liabilities         208,309
                                                                             --------------------
                   Other Liabilities
                      Due to KPW                                                     12,499
                                                                             --------------------
                      Total Liabilities                                             220,808
                   Stockholders' Equity
                      Common stock, par value $0.001; 50,000,000 shares              12,349
                      authorized; 12,349,503 shares issued and outstanding.
                      Additional paid-in capital                                  1,679,985
                      Retained (deficit)                                        (1,408,955)
                                                                             --------------------
                      Total Stockholder's equity                                    283,379
                                                                             --------------------
                      Total Liabilities and Stockholder's Equity                    504,187
                   ========================================================= ====================

                        See notes to financial statements
</TABLE>
<PAGE>

                            HYPERDYNAMICS CORPORATION
                         Consolidated Income Statements
               3 Months and 9 Months Ended March 31, 1999 and 1998
<TABLE>
<CAPTION>

                                                     3 Months Ended March 31                9 Months Ended March 31
                                                    1999                1998                1999                1998
<S>                                              <C>                 <C>                    <C>              <C>      
Revenues                                         $ 331,071           $ 174,397              931,746          $ 640,621
Cost of Revenues                                   148,993             115,505              555,786            560,604
                                              ------------------ ------------------- -------------------- ------------------
                                Gross Margin       182,078              58,892              375,960             80,017
Operating Expenses
   Selling                                          10,989              24,461               26,665             44,483
   General and Administrative                      163,047             177,541              522,361            448,662
   Interest                                                                                                      3,373
   Depreciation                                      5,477               4,481               23,962             12,235
                                              ------------------ ------------------- -------------------- ------------------
                    Total Operating Expenses       179,513             206,483              572,988            508,753
                                              ------------------ ------------------- -------------------- ------------------
                     Operating Income (Loss)         2,565           (147,591)            (197,028)          (428,736)
Other Income (Expense)
   Other income (expense)                                0                   0              (7,460)                  0
   Gain on sale of securities                            0                   0                    0                  0
   Loss on disposal of asset                             0                   0                    0                  0
   Interest income                                       0                   0                1,426                  0
   Interest expense                                      0                   0              (4,702)
                                              ------------------ ------------------- -------------------- ------------------
                       Net Income (Loss) BIT         2,565           (147,591)            (207,764)          (428,736)
                                              ------------------ ------------------- -------------------- ------------------
Income Tax (Benefit)                                     0                   0                    0                  0
                                              ------------------ ------------------- -------------------- ------------------
                            Net Income (Loss        $2,565         $(147,591 )           $(207,764)         $(428,736)
                                              ================== =================== ==================== ==================
Income (Loss) per Common Share
             Net Income (Loss) per C/S Share         $0.00             $(0.02)              $(0.02)            $(0.07)
                                              ------------------ ------------------- -------------------- ------------------
Weighted average share outstanding              12,256,534           6,566,056           12,224,158          6,566,056


                        See notes to financial statements
</TABLE>



<PAGE>


                            HYPERDYNAMICS CORPORATION
                 Consolidated Statements of Stockholders' Equity
                     9 Months Ended March 31, 1999 and 1998

<TABLE>
<CAPTION>
                                                Common Stock
                                           Shares            Amount          Paid in      Retained (Deficit)        Totals
                                                                             Capital
<S>                                          <C>                 <C>          <C>                 <C>                   <C>    
   Balances - June 30, 1997                   5,596,989           $5,597       $696,111            $(642,867)            $58,841
   Options exercised                             64,000               64         39,936                                   40,000
   Conversion of debt                         5,833,333            5,833        344,167                                  350,000
   Shares issued for cash                         5,000                5          4,995                                    5,000
   Net (loss)                                                                                       (428,736)          (428,736)
                                                                                                    ---------          ---------
   Balances - March 31, 1998                 11,499,322          $11,499     $1,085,209          $(1,071,603)            $25,105
                                             ----------          -------     ----------          ------------            -------

Balances - June 30, 1998                     12,208,321          $12,208     $1,567,500          $(1,201,191)          $ 378,517
   Adjustment for options paid                                                   37,625                                   37,626
   Options exercised                             18,182               18         24,982                                   25,000
   Shares issued for cash                       123,000              123         49,877                                   50,000
   Net Income (Loss)                                                                                (207,764)          (207,764)
   Balances - March 31, 1999                 12,349,503          $12,349     $1,679,984          $(1,408,955)           $283,379
                                             ----------          -------     ----------          ------------           --------

                        See notes to financial statements
</TABLE>



<PAGE>


                            HYPERDYNAMICS CORPORATION
                      Consolidated Statements of Cash Flows
                     9 Months Ended March 31, 1999 and 1998

<TABLE>
<CAPTION>
                                                                           1999                1998
<S>                                                                        <C>                <C>    
       Cash flows from operating activities
          Net Income (loss)                                           $ (207,764)             $(428,736)
       Adjustments to reconcile net income to cash provided from
       operating activities
          Depreciation and amortization                                    23,962                 12,235
          Common stock issued for services                                      0                      0
       Changes in:
             Restricted certificate of deposit                             94,000                 70,000
             Accounts receivable - Trade                                   27,281                (7,412)
                                              -  Other                     30,000                      0
             Due from officers                                                  0                  4,166
             Inventory                                                   (16,376)                (4,166)
             Other assets                                                  19,639               (76,325)
               Collection of revenue interest                              31,056                 29,441
             Accounts payable                                            (84,437)                122,371
             Accrued expenses                                               9,584                (7,102)
             Other                                                              0       
                                                                     ----------------- ----------------------
                             Net cash used for operating activities      (73,055)              (285,528)
       Cash flows from investing activities
          Increase in other assets                                        (6,939)
          Purchase of fixed assets                                       (41,468)               (52,515)
                                                                     ----------------- ----------------------
                             Net cash used for investing activities      (48,407)               (52,515)
       Cash flows from financing activities
          Sale of common stock                                            112,626                395,000
          Net increase (decrease) under line of credit                          0               (70,000)
          Due from Affiliates                                               (928)                      0
          Short Term - convertible notes payable                           12,499
                                                                     ----------------- ----------------------
                        Net cash provided from financing activities       124,197                325,000
       Net increase (decrease) in cash                                      2,735               (13,043)
                                        Cash at beginning of period         4,908                 30,068
                                                                     ================= ======================
                                              Cash at end of period        $7,643                $17,025
                                                                     ================= ======================
       Supplemental Information
          Interest paid                                                    $4,702                   $279

                        See notes to financial statements

</TABLE>


<PAGE>


                            HYPERDYNAMICS CORPORATION
                          NOTES TO FINANCIAL STATEMENTS

1.   The  unaudited  condensed   consolidated  financial  statements  have  been
     prepared in accordance with generally  accepted  accounting  principles for
     interim financial  information.  The financial  statements contained herein
     should be read in conjunction with the audited financial  statements of the
     Company.   Accordingly,   footnote  disclosure  which  would  substantially
     duplicate the disclosure in those statements has been omitted.

2.   Other than a  convertible  note  payable to Kent Watts,  President  for the
     Company,  the  Company  has  no  long-term  debt,  contingent  liabilities,
     obligations,  or other  financing  arrangements  as of the end of its third
     quarter of fiscal year 1999. It is  convertible at the option of Kent Watts
     at a price of $2.50 per share.

3.   During the quarter 18,182 options were exercised by individual  consultants
     for a total of  $25,000.  Additionally,  the  President  negotiated  with a
     single accredited investor to provide $50,000 of additional working capital
     for the company  during the quarter.  The Company  issued 123,000 shares of
     section 144 restricted  common stock for this working capital.  The Company
     has not  granted  any stock  options  during  the first,  second,  or third
     quarters of fiscal year 1999.


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

General Discussion
Hyperdynamics  Corporation  (HYPD : OTC  BB) is a  Internet  Technology  Service
Provider developing e-Commerce based software applications and turn-key Internet
based Information  Technology (IT) hosting  services.  With the exploding demand
for Internet integrated  Information  Technology Services,  and the accompanying
shortage of capable IT  Professionals,  Hyperdynamics  has positioned  itself to
become knowns as an information  technology services company that maximizes it's
customers return on their  technology  investment.  The Company's  strategies to
increase  Internet  related service  revenues and market  integrated  technology
products is resulting in substantially higher gross margins for the Company.

During the past fiscal year, the Company  focused  resources  available to it on
building up the potential for sales of wireless television equipment. During the
quarter the Company has been working on expanding its Internet  related  hosting
services and is  continuing to invest more heavily in sales and marketing of the
Great Plains Software Internet Commerce development platform. The Company became
certified through passing required examinations as a Great Plains authorized and
certified Dynamics CS+ SQL reseller. The Company has also obtained certification
with  Citrix  Systems  for  sales  and  support  of  their  add-on  products  to
Microsoft's  NT 4.0 TSE  operating  system..  The  Company's  sales  forecast is
expected  to continue  to grow with  enterprise  level  technical  products  and
announcements  are soon  expected  regarding  upcoming  projects  for  web-based
software  application  development,  database driven web-site  development,  and
increased service contracts.


Results of Operations
The  Company's  revenues  increased in the quarter over the same quarter in 1998
from  $174,397 to $331,071.  The 90 % increase was primarily due to an increased
IT service  business as well as specialized  wireless  equipment  sales over the
same quarter in 1998.

Cost of Revenues increased  correspondingly to the sales increase, to $ 148,993.
However the cost of sales increased only 30% indicating the continuing effect of
the  Company's  strategy in increasing  its gross  contribution  margins.  Gross
margin percentage increased to 55% compared to 34% for the same quarter in 1998.

Selling,  General  and  Administrative  expenses  decreased  to $ 174,036 in the
quarter,  as compared to $202,002 for the same period in 1998.  The decrease was
primarily  due to  policies  established  to change  some of the  fixed  payroll
overhead to be variable based on Gross Profit production.

Net Income.  The net income of the Company was $2,565 for the three months ended
March  31,  1999,  or a  break-even  $0.002  per  share as  compared  to Loss of
$(147,591) or $(.02) for the same period in 1998. The  turn-around is due to the
success of the  strategies to control  overhead,  increase  higher  contribution
margin IT service and specialized wireless equipment revenues.


Liquidity and Capital Resources
At March 31,  1999 the  Company's  current  ratio of  current  assets to current
liabilities was 1.29. The Company is working diligently to improve its liquidity
through positive results of operations.  The Company does not have any long-term
debt and does not plan any  particular  debt  financing in the near future.  The
goal of  management  is to continue to improve  its  results of  operations  and
obtain additional equity funding to increase working capital,  help close viable
and profitable technology based acquisitions,  and provide fuel for its expected
rapid growth. The Company is working diligently to plan for a secondary offering
of stock to be used to effect viable Internet  technology related  acquisitions.
This  plan  includes  that the  Company  become  qualified  to be  listed on the
American or NASDAQ exchange's.

In  addition to the above,  the  Company is in a position  to obtain  additional
capital upon the exercise of previously-issued  warrants and outstanding options
for common stock.


Prospective Information
The  Company is working  diligently  to start  realizing  increased  sales and a
steady  growth in profits.  The closing of targeted  acquisitions  coupled  with
improved sales and marketing  strategies  for increased IT service  revenues and
enterprise level software application sales,  operations are expected to produce
profits in the future.  The Company is planning to  substantially  increase  its
sales and marketing  activities with respect to its core business development in
the 4th quarter.  This will help the Company to continue to pick up  operational
momentum.

               CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

The Company is including the following  cautionary  statement to make applicable
and take  advantage  of the safe  harbor  provision  of the  Private  Securities
Litigation Reform Act of 1995 for any forward-looking  statements made by, or on
behalf  of,  the   Company.   This  Annual   Report  on  Form  10-KSB   contains
forward-looking   statements.   Forward-looking  statements  include  statements
concerning plans, objectives, goals, strategies,  expectations, future events or
performance and underlying assumptions and other statements which are other than
statements  of  historical  facts.   Certain  statements  contained  herein  are
forward-looking  statements and,  accordingly,  involve risks and  uncertainties
which could cause  actual  results or outcomes to differ  materially  from those
expressed in the forward-looking statements. The Company's expectations, beliefs
and  projections  are expressed in good faith and are believed by the Company to
have a reasonable basis, including without limitations, management's examination
of historical  operating  trends,  data  contained in the Company's  records and
other data  available  from third  parties,  but there can be no assurance  that
management's expectations,  beliefs or projections will result or be achieved or
accomplished.  In addition to other  factors  and  matters  discussed  elsewhere
herein,  the following  are important  factors that, in the view of the Company,
could cause  actual  results to differ  materially  from those  discussed in the
forward-looking  statements: the ability of the Company to respond to changes in
the information system environment,  competition, the availability of financing,
and, if available,  on terms and conditions  acceptable to the Company,  and the
availability of personnel in the future.
                            Part II Other Information


    Item 6     Exhibits and Reports on Form 8-K
        (a)   Exhibits
              The following exhibits are filed with this Quarterly Report or are
incorporated herein by reference:
              Exhibit Number                    Description
                    27                    Financial Data Schedule

        (b)   Reports on Form 8-K
              On January 28, 1998,  the Company  filed a current  report on Form
8-K regarding a change in control of the Company.



                                    Signature

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



                                        HyperDynamics Corporation
                                        (Registrant)

                                        By: /s/ Kent Watts
                                        --------------------
                                        Kent Watts, Chairman of the Board,
                                        Chief Executive Officer, and Chief 
                                        Accounting Officer


Dated: May 14, 1999