<PAGE>   1
                    U.S. SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D. C. 20549
                                 FORM 10-QSB/A
 (Mark One)

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

                  For the quarterly period ended June 27, 1998

     [_]          TRANSITION REPORT UNDER SECTION 13 OR 15(d)
                  OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to ________________


Commission file number        0-25528
                        -------------

                              ENVIROQ CORPORATION
       (Exact name of small business issuer as specified in its charter)

                Delaware                                      59 -3290346  
      (State or other jurisdiction of                      (I.R.S. Employer
       incorporation or organization)                      Identification No.)

       3918 Montclair Road, Suite 206
          Birmingham,  Alabama                                    35213    
 ----------------------------------------                    ---------------   
 (Address of principal executive offices)                         (Zip Code)

                    Issuer's telephone number: (205) 870-0588
                                               --------------

                                      N/A
------------------------------------------------------------------------------
              (Former name, former address and former fiscal year,
                         if changed since last report)

         Check whether the issuer: (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Exchange Act during the past 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
                                      ---     ---

         State the number of shares outstanding of each of the issuer's classes
of common equity, as of the latest practicable date:

            Common Stock, par value $0.01         1,009,377
            -----------------------------    ------------------ 
                      (Class)                (Number of Shares)



           Transitional Small Business Disclosure Format (Check one):
                                 Yes [_] No [X]
<PAGE>   2
                     ENVIROQ CORPORATION AND SUBSIDIARIES

                           FORM 10-QSB JUNE 27, 1998


<TABLE>
<S>                                                     <C>
CONSOLIDATED CONDENSED BALANCE SHEETS -                   
  JUNE 27, 1998 AND MARCH 28, 1998                       3

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS -         
  THREE MONTHS ENDED JUNE 27, 1998                       5

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS -         
  THREE MONTHS ENDED JUNE 27, 1998                       6 

NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS     7

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL 
CONDITION AND RESULTS OF OPERATIONS                     10

PART II - OTHER INFORMATION                             12

SIGNATURES                                              14

</TABLE>


                                      2
<PAGE>   3
ENVIROQ CORPORATION

CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED)
------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                           June 27, 
                                                                             1998           March 28,
                                                                           Revised            1998
                                                                        -------------     --------------
<S>                                                                     <C>               <C>
ASSETS

CURRENT ASSETS:
   Cash and cash equivalents                                            $   2,536,387     $   2,545,100
   Accounts receivable (no allowance considered necessary)                    115,344            78,404
   License fees receivable                                                        930                 -
   Inventories                                                                173,393           168,184
   Notes Receivable                                                            13,459                 -
   Refundable Income Taxes                                                     37,622            63,470
   Prepaid expenses and other assets                                            5,495            36,884
                                                                        -------------     -------------
        Total current assets                                                2,882,630         2,892,042
                                                                        -------------     -------------

OTHER ASSETS:
   Employee notes receivable                                                   11,858            11,858
   Deferred Taxes                                                              10,040            10,650
                                                                        -------------     -------------
        Total other assets                                                     21,898            22,508
                                                                        -------------     -------------

PROPERTY, PLANT AND EQUIPMENT, at cost
   Land                                                                       310,135           310,135
   Leasehold Improvements                                                       8,312                 -
   Operating equipment                                                         38,136            44,160
   Other equipment and vehicles                                                57,917            57,917
                                                                        -------------     -------------
                                                                              414,500           412,212
   Less accumulated depreciation                                              (55,174)          (53,279)
                                                                        -------------     -------------
       Property, plant and equipment, net                                     359,326           358,933
                                                                        -------------     -------------
TOTAL ASSETS                                                            $   3,263,855     $   3,273,483
                                                                        =============     =============
</TABLE>


     See accompanying notes to consolidated condensed financial statements


                                       3
<PAGE>   4
ENVIROQ CORPORATION

CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED)
-------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                            June 27,  
                                                                              1998          March 28,
                                                                            Revised           1998
                                                                          -----------     ------------

<S>                                                                       <C>             <C>
LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Accounts payable and accrued expenses                                  $    65,037     $     46,733
   Salaries, wages and related taxes                                           20,264           25,203
   Income taxes payable                                                        71,617                -
                                                                          -----------     ------------
      Total current liabilities                                               156,918           71,936
                                                                          -----------     ------------

COMMITMENTS AND CONTINGENCIES (Note 3)

STOCKHOLDERS' EQUITY
   Common stock (par value $.01 per share) 
   10,000,000 shares, authorized          
   1,009,377 shares, issued and outstanding                                    10,094          10,094
   Additional paid-in capital                                               6,190,647       6,190,647
   Accumulated deficit                                                     (3,093,804)     (2,999,194)
                                                                          -----------     -----------
          Total stockholders' equity                                        3,106,937       3,201,547
                                                                          -----------     -----------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                $ 3,263,855     $ 3,273,483
                                                                          ===========     ===========
</TABLE>



     See accompanying notes to consolidated condensed financial statements



                                       4
<PAGE>   5
ENVIROQ CORPORATION

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (ALL PERIODS UNAUDITED)
-------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                             THREE MONTHS ENDED
                                                        -----------------------------
                                                           JUNE 27,
                                                            1998             JUNE 28,
                                                           Revised            1997
<S>                                                     <C>              <C>
REVENUES
   Net revenues from sales and support                  $   362,815      $   233,486
   Revenues from licenses                                         -           80,000
                                                        ------------     -----------
       Total Revenues                                       362,815          313,486

COST OF REVENUES                                            180,310          201,191
                                                        ------------     -----------

GROSS PROFIT                                                182,505          112,296
NON-RECURRING MERGER EXPENSES                              (127,670) 
SELLING, GENERAL AND
ADMINISTRATIVE EXPENSES                                     175,413          176,806
                                                        ------------     -----------

LOSS FROM OPERATIONS                                       (120,578)         (64,511)
 
OTHER INCOME                                                 35,766           31,960
                                                        ------------     -----------

LOSS BEFORE INCOME TAXES                                    (84,812)         (32,550)

INCOME TAX EXPENSE (BENEFIT)                                 11,159           (4,883)
                                                        ------------     -----------

NET LOSS                                                $   (95,971)     $   (27,667)
                                                        ============     ===========

NET LOSS PER SHARE                                      $     (0.10)      $     (0.03)
                                                        ============     ===========
WEIGHTED AVERAGE SHARES OUTSTANDING                       1,009,377        1,009,377
</TABLE>



     See accompanying notes to consolidated condensed financial statements.



                                       5
<PAGE>   6
ENVIROQ CORPORATION

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)
------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                            THREE MONTHS ENDED
                                                                    ---------------------------------
                                                                    JUNE 27, 1998       JUNE 28, 1997
                                                                       REVISED
<S>                                                                 <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net loss                                                         $     (95,971)      $     (27,667)
   Adjustments to reconcile net loss to net cash
     used in operating activities:
       Depreciation                                                         1,895               2,618
       Changes in assets and liabilities provided (used) cash              87,651              82,202
                                                                    -------------       -------------
          Net cash provided by (used in) operating activities              (6,425)             52,270
                                                                    -------------       -------------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Additions to property, plant and equipment                              (2,288)                  -
                                                                    -------------       -------------
          Net cash used in investing activities                            (2,288)                 (0)
                                                                    -------------       -------------

CASH FLOWS FROM FINANCING ACTIVITIES                                            -                   -


NET INCREASE (DECREASE) IN CASH AND
   CASH EQUIVALENTS                                                        (8,713)             52,270
                                                                    -------------       -------------

CASH AND CASH EQUIVALENTS AT
   BEGINNING OF PERIOD                                                  2,545,100           2,379,613
                                                                    -------------       -------------

CASH AND CASH EQUIVALENTS
   AT END OF PERIOD                                                 $   2,536,387       $   2,431,883
                                                                    =============       =============
</TABLE>


     See accompanying notes to consolidated condensed financial statements



                                       6
<PAGE>   7
ENVIROQ CORPORATION

NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (UNAUDITED)


NOTE 1 - MANAGEMENT'S REPRESENTATION

The accompanying unaudited consolidated condensed financial statements have
been prepared in accordance with generally accepted accounting principles for
interim financial information and with the instructions for Form 10-QSB.
Accordingly, they do not include all of the information and footnotes required
by generally accepted accounting principles for complete financial statements.
These unaudited financial statements include all adjustments, consisting of
normal recurring accruals, which Enviroq Corporation considers necessary for a
fair presentation of the financial position and the results of operations for
these periods.

The results of operations for the three months ended June 27, 1998 are not
necessarily indicative of the results to be expected for the full year ending
March 27, 1999. For further information, refer to the financial statements and
footnotes thereto included in the Company's Form 10-KSB for the year ended
March 28, 1998, as filed with the Securities and Exchange Commission.

NOTE 2 - GENERAL

A.   COMPANY INFORMATION

     Enviroq Corporation, a Delaware corporation (the "Company"), was
     incorporated on February 9, 1995. At the time of its incorporation, the
     Company was a wholly-owned subsidiary of a Delaware corporation formerly
     named Enviroq Corporation ("Old Enviroq"). Prior to April 18, 1995, the
     Company was named New Enviroq Corporation ("New Enviroq"). On April 18,
     1995, Old Enviroq distributed all of the issued and outstanding capital
     stock of New Enviroq to the holders of the common stock of Old Enviroq
     (the "Distribution"). Following the Distribution, the Company changed its
     name from New Enviroq Corporation to Enviroq Corporation. Also following
     the Distribution, Old Enviroq merged with a subsidiary of Insituform
     Mid-America, Inc. ("IMA") and changed its name to Insituform Southeast,
     Inc. ("Insituform Southeast").

     The Company's principal executive office is located at 3918 Montclair 
     Road, Suite 206, Birmingham, Alabama 35213, and its telephone number is 
     (205) 870-0588. The Company's mailing address is P. O. Box 130062, 
     Birmingham, Alabama 35213.

     The Company is currently principally engaged in the development,
     commercialization, formulation and marketing of spray-applied resinous
     products, and in the treatment of municipal wastewater biosolids. The
     Company's operations are conducted primarily through Sprayroq(R), Inc., a
     Florida corporation ("Sprayroq"), of which the Company owns 50% of the
     outstanding capital stock. Sprayroq is engaged in the development,
     commercialization, manufacture and marketing of spray-applied resinous
     materials. The Company also owns 100% of the outstanding capital stock of
     Synox(R) Corporation, a Delaware corporation ("Synox"). Synox has been
     engaged in the research, development and marketing of a process for the
     treatment of municipal wastewater biosolids. To date, most of the revenue
     and operating income for the Company have resulted from the operations of
     Sprayroq. While the Company intends to maintain Synox as a subsidiary,
     management does not expect any significant revenues or other activity for
     the foreseeable future, and intends to minimize expenses*.



                                       7
<PAGE>   8


     B.  BASIS OF PRESENTATION

     Principles of Consolidation - The consolidated financial statements
     include the accounts of Enviroq Corporation, Synox and Sprayroq. All
     significant intercompany transactions are eliminated. Although the Company
     owns 50% of the outstanding capital stock of Sprayroq, all of the
     operating results of Sprayroq have been included, without discount or
     reduction. No minority interest is shown because of Sprayroq's accumulated
     deficit position.

     C.  INCOME (LOSS) PER SHARE

     Income (loss) per share was computed by dividing net income (loss) by the
     1,009,377 shares of common stock outstanding as of June 27, 1998,
     considering these shares to be outstanding for all periods presented.

NOTE 3 - COMMITMENTS AND CONTINGENCIES

Synox is the exclusive licensee of certain technology and know-how under a
license agreement with a company controlled by certain affiliates of the
Company. The agreement covers 15 states in the license territory.

Under the terms of its license agreement (as amended), Synox is subject to
minimum royalty provisions and to the maintenance of a $50,000 net worth and
the performance of other material provisions of the license agreement. Minimum
annual royalties (based upon retaining the 15 states currently under the
agreement) are due each January 1, for the ensuing calendar year through the
license expiration, according to the following schedule. The license agreement
was amended on December 22, 1997 to change the expiration date of the license
and to provide that no minimum royalty payment would be due on January 1, 1998,
but that such minimum royalty payments would resume on January 1, 1999, in
accordance with the following schedule.

<TABLE>
<CAPTION>
DUE DATE                                AMOUNT

<S>                                    <C>
January 1, 1999                        $ 90,336
January 1, 2000                         180,671
January 1, 2001                         180,671
January 1, 2002 through 2009            225,839
</TABLE>


Pursuant to the merger agreement between Old Enviroq and Synox, the
stockholders of Synox at the time of the merger received Old Enviroq shares
valued at $672,000 in the aggregate plus the right to receive additional shares
of Old Enviroq, dependent on the earnings of Synox, up to a maximum value of
$2,017,000. In addition, the then existing obligations of Synox under
promissory notes to certain shareholders ($767,376 at December 30, 1991 plus
additional interest at 7.66%) shall become payable by Synox in cash only after
such time as (i) all the contingent shares have been issued and (ii)
accumulated retained earnings are available for such payment. Interest shall
become payable only to the extent of available net earnings. As a result of the
Distribution of Company shares referred to in Note 2.A above, the obligation to
issue contingent shares became an obligation of the Company to issue its shares
in lieu of Old Enviroq shares. To the extent additional contingent shares
become issuable in the future or additional obligations become payable in the
future, such consideration will be recorded at that time at its fair value and
accounted for as additional intangible assets.

The Company and Replico Development Company, Inc. ("Replico") each own 50% of
the outstanding capital stock of Sprayroq, and pursuant to the Stockholder
Agreement dated as of March 25, 1992 between the Company (as successor to Old
Enviroq), Sprayroq and Replico, the parties agreed to vote their respective
shares to elect three directors designated by the Company and two directors
designated by Replico. Sprayroq has obtained its operating funds primarily from
the Company. Prior to October 15, 1996, the Company had made loans to Sprayroq
to fund the working capital and other needs of Sprayroq. On October 15, 1996,
the board of directors of Sprayroq voted to restructure and consolidate this
debt with the Company, and a Consolidated Note 



                                       8
<PAGE>   9

evidencing the restructured debt was executed on October 21, 1996 by Sprayroq.
As of June 27, 1998, the principal amount of the debt was approximately
$487,000. The rate of interest on the debt is 7% per annum. The debt will be
amortized over a 30-year period, with the balance of the principal due, in the
form of a "balloon" payment, on October 1, 2001.


Note 4 - RESTATEMENT

The financial statements for the quarter ended June 27, 1998 have been restated
to expense amounts which had been previously capitalized. In particular, 
approximately $127,000 in reorganization costs were expensed.


                                   * * * * *



                                       9
<PAGE>   10
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF 
OPERATIONS


RESULTS OF OPERATIONS

Revenue

     For the three months ended June 27, 1998, the Company generated revenues
     of approximately $363,000, as compared to approximately $313,000 for the
     three months ended June 28, 1997, representing an increase of
     approximately 16%. The increase in revenues for the three-month period is
     primarily attributable to an increase in orders for materials from
     Sprayroq's licensees.

Cost of Revenues / Gross Profit

     Cost of revenues were approximately $180,000 for the three months ended
     June 27, 1998, as compared to approximately $201,000 for the three months
     ended June 28, 1997, representing a decrease of approximately 10%. Cost of
     revenues for the three-month period decreased primarily as all revenues for
     the three month period ended June 27, 1998 were derived from orders for
     materials and parts from Sprayroq's licensees, which resulted in higher
     gross profit margins, whereas a portion of the revenues for the period
     ended June 28, 1997 were derived from the sale of a license, which
     resulted in lower gross profit margins.

     Gross profit margin was approximately 50% for the three months ended June
     27, 1998, as compared to approximately 36% for the three months ended June
     28, 1997.

Non-Recurring Merger Expenses

     Expenses of $127,670 were incurred in connection with the Company's
     proposed merger.

Selling, General and Administrative Expenses

     Selling, General and Administrative Expenses ("S,G&A") for the three
     months ended June 27, 1998 were approximately $175,000, as compared to
     approximately $177,000 for the three months ended June 28, 1997, a
     decrease of approximately 1%. The decrease in S,G&A for the three month
     period is marginal.

Other Income

     Other income was approximately $36,000 for the three months ended June 27,
     1998, as compared to approximately $32,000 for the three months ended June
     28, 1997. For the three month period ended June 27, 1998, most of the
     other income resulted from interest income and accrued interest receivable
     by the Company from its bank cash deposits, money market accounts, and
     other investments.

Net Income (Loss)

     For the three months ended June 27, 1998, net loss was approximately
     $96,000, as compared to net loss of approximately $28,000 for the three
     months ended June 28, 1997. The larger net loss was the result of the
     $127,670 in non-recurring merger expenses, which were partially offset by
     increased revenues and improved gross profit margins.

Financial Condition

     For the three months ended June 27, 1998, stockholders' equity increased
     as compared to the preceding quarter ended March 28, 1998, primarily as a
     result of increases in net income.

     At June 27, 1998, the Company had approximately $2,726,000 in working
     capital and a current ratio of 18.4-to-1, as compared to working capital
     of approximately $2,820,000 and a current ratio of 40.2-to-1 at March 28,
     1998.



                                      10
<PAGE>   11
 
     At June 27, 1998, the Company's cash and cash equivalents totaled
     approximately $2,536,000. In addition, accounts receivable totaled
     approximately $115,000. The Company used approximately $9,000 in cash from
     operating and investing activities during the three month period ended
     June 27, 1998, primarily as a result of increases in accounts receivable
     and inventories as well as costs related to the Agreement and Plan of
     Reorganization, dated April 22, 1998, by and among the Company and other
     entities.

     Depreciation expense was approximately $2,000 for the three months ended
     June 27, 1998. Net fixed assets were approximately the same on March 28,
     1998 and June 27, 1998. The lack of change in net fixed assets is
     attributable to the purchase of equipment offsetting the accumulated
     depreciation.

     The Company does not believe that there is any appreciable seasonal impact
     on the business of the Company, although extreme cold weather may impair
     installation of spray-applied materials which may result in decreased
     resin sales by Sprayroq*.

     The Company's undeveloped property in Jacksonville, Florida (approximately
     10.6 acres) is currently being offered for sale, which may result in an
     increase in the Company's cash*.

     Operating cash flow combined with available cash and cash equivalents are
     currently expected to be sufficient in amount to provide resources to the
     Company's working capital needs during fiscal year 1999*.

YEAR 2000 ISSUE

     Management of the Company has made an assessment of the Year 2000
     compliance status of the Company's computer hardware, computer network
     equipment, and computer software. With respect to computer systems utilized
     within the Company, management believes that all key systems are currently
     Year 2000 compliant and should not pose significant operational problems,
     either to the Company or to third parties. The Company relies on third
     party vendors for its key computer system components and, as a function of
     routine upgrades of such systems, has received assurance of Year 2000
     compliance, consequently avoiding any expense directly related to Year 2000
     compliance. In addition, the management of the Company expects to complete,
     by December 31, 1998, a survey with each key supplier and key customer to
     further assess the extent of Year 2000 problems for such companies and any
     potential impact upon the Company. At this time, the Company does not
     believe it is necessary to have a formal Year 2000 contingency plan in
     place. Although it is not possible to reasonably estimate the cost of
     compliance, based on management's assessment, the Company believes that the
     cost to resolve any third party issues will not have a material impact on
     earnings*.

     Despite these efforts, there can be no assurance that the systems of other
     companies, organizations or governmental agencies upon which the Company
     relies, will be addressed successfully or in a timely manner. While the
     Company has not identified any specific areas of risk, it is possible that
     Year 2000 problems, arising from sources beyond the control of the Company
     (including the systems of suppliers and customers), or from general market
     Year 2000 problems could result in a negative adverse impact on the Company
     and/or its operating results*.


                                      11
<PAGE>   12



PART II - OTHER INFORMATION

ITEM 1 - Legal Proceedings

None.

ITEM 2 - Changes in Securities

None.


ITEM 3 - Defaults upon Senior Securities

None.


ITEM 4 - Submission of Matters to a Vote of Security Holders

None.


ITEM 5 - Other Information

On July 14, 1998, the Company entered into an Agreement for Sale and Purchase
of Property with L.J. Development Group, Inc. for the sale of the Company's
real property located on Phillips Highway in Jacksonville, Florida (the "Land
Agreement"). The total purchase price is $4.00 per net square foot of the
approximately 10.6 acres, less any property subsequently determined to be
"Jurisdictional Lands" as defined in the Land Agreement. The closing of the
sale is subject to several terms and conditions as provided in the Land
Agreement.



                                      12
<PAGE>   13


ITEM 6 - Exhibits and Reports on Form 8-K

(a)     The following exhibits are included or are incorporated by reference 
        into this Form 10-QSB:

Description of Exhibits

<TABLE>
<CAPTION>
        Item

        <S>       <C>
        *3.01     Certificate of Incorporation of New Enviroq Corporation.  Exhibit 3.01 to the Company's
                  Registration Statement on Form 10-SB/A2 dated April 12, 1995, is incorporated herein by
                  reference (Commission File No. 0-25528).

        *3.02     Certificate of Amendment to Certificate of Incorporation of New Enviroq Corporation.  Exhibit
                  3.02 to the Company's Registration Statement on Form 10-SB/A2 dated April 12, 1995, is
                  incorporated herein by reference (Commission File No. 0-25528).

        *3.03     Bylaws of New Enviroq Corporation.  Exhibit 3.03 to the Company's Registration Statement on
                  Form 10-SB/A2 dated April 12, 1995, is incorporated herein by reference (Commission File No.
                  0-25528).

        *4.01     Certificate of Designation of Rights and Preferences of Series A Preferred Stock.  Exhibit 4.01
                  to the Company's Registration Statement on Form 10-SB/A2 dated April 12, 1995 , is incorporated
                  herein by reference (Commission File No. 0-25528).

        *4.02     Form of Certificate of Common Stock.  Exhibit 4.02 to the Company's Registration Statement on
                  Form 10-SB/A2 dated April 12, 1995, is incorporated herein by reference (Commission File No.
                  0-25528).

        *4.03     Form of Certificate of Series A Preferred Stock.  Exhibit 4.03 to the Company's Registration
                  Statement on Form 10-SB/A2 dated April 12, 1995, is incorporated herein by reference
                  (Commission File No. 0-25528).

        *4.04     Stock Agreement, dated April 22, 1998, by and among certain shareholders of the Company, Institutional 
                  Asset Management, Inc., and Capital Research Corporation. Exhibit 4 to the Report on form 8-K, dated 
                  April 23, 1998, is incorporated herein by reference (Commission File No. 0-25528).

        *10.26    Agreement and Plan of Reorganization by and among Intrepid Capital Corporation, the Company,
                  Freedom Holdings of Alabama, Inc., Institutional Asset Management, Inc., IAM Merger Sub, Inc.
                  Capital Research Corporation, and CRC Merger Sub, Inc. dated as of April 22, 1998.  Exhibit 2
                  to the Report on Form 8-K, dated April 23, 1998, is incorporated herein by reference
                  (Commission File No. 0-25528).

        27.0      Restated Financial Data Schedule (for SEC use only)
</TABLE>

        * Exhibits incorporated by reference.

(b)     Reports on Form 8K filed during the period:


        On April 23, 1998, the Company filed a Current Report on Form 8-K with
        the Securities and Exchange Commission. In this Form 8-K, the Company
        disclosed, pursuant to Item 5, that the Company had entered into an
        Agreement and Plan of Reorganization, dated as of April 22, 1998, by



                                      13
<PAGE>   14

        and among Enviroq Corporation, Institutional Asset Management, 
        Inc., Capital Research Corporation, Intrepid Capital Corporation
        and certain other entities.





        "Safe Harbor" Statement under the Private Securities Litigation
                              Reform Act of 1995:

With the exception of historical factual information, the matters and
statements discussed, made or incorporated by reference in this Quarterly
Report on Form 10-QSB (including statements regarding trends in the industry
and the business and growth and financing strategies of the Company), as well
as those statements specifically designated with an asterisk (*), constitute
forward-looking statements, contain the words "estimates," "projects,"
"intends," "believes," "anticipates," "expects," and words of similar import,
are based upon current expectations and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements and words involve known and unknown assumptions,
risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any
future results, performance, or achievements expressed or implied by such
forward-looking statements or words. Such assumptions, risks, uncertainties and
factors include those associated with general economic and business conditions;
industry trends, cyclicality and seasonality; litigation arising in the course
of the Company's business; dependence on key personnel and favorable
relationships with employees; relationships with and dependence on customers,
and suppliers; changes in the business strategy or development plans of the
Company; the availability, terms and deployment of capital; changes in or the
failure to comply with government regulations; and the inability or failure to
identify or consummate successful acquisitions or to assimilate the operations
of any acquired businesses with those of the Company; and other assumptions,
risks, uncertainties and factors reflected from time to time in the Company's
filings with the Securities and Exchange Commission. The Company expressly
disclaims any obligation to update any forward-looking statements as a result
of developments occurring after the filing of this report.


                                   SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                                ENVIROQ CORPORATION



Date: September 9, 1998                By:  /s/ William J. Long
                                            ----------------------------------
                                                William J. Long, President
                                                and Chief Executive Officer
                                                (Principal Financial and
                                                Accounting Officer)



                                      14