UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 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: December 31, 1997

                                                        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 of                                (IRS Employer
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 December 31, 1997,  5,660,989 shares of common stock,  $0.001 par
value, were outstanding.

Transitional Small Business Disclosure Format  (check one):   Yes [  ]   No  [X]







<PAGE>

                           HYPERDYNAMICS CORPORATION


                                    CONTENTS

PART I.  FINANCIAL INFORMATION                                             Page

         Item 1. Financial Statements

                  Consolidated Balance Sheet at
                     December 31, 1997(unaudited)                             3

                  Consolidated Statements of Income for the three
                     and six months ended December 31, 1997
                     and 1996 (both unaudited)                                4

                  Consolidated Statements of  Stockholders'  Equity 
                     for the six months  ended  December 31, 1997 
                     and 1996 (both unaudited)                                5

                  Consolidated Statements of Cash Flows for the six
                     months ended December 31, 1997 and 1996
                     (both unaudited)                                         6

                  Notes to Consolidated Financial Statements                  7

         Item 2. Management's Discussion and Analysis of Financial
                  Condition and Results of Operations                         8

PART II. OTHER INFORMATION

         Item 6.    Exhibits and Reports on From 8-K                          9

                    (a)   Exhibits

                    (b)   Reports on Form 8-K

SIGNATURES                                                                   10





<PAGE>

PART 1.  FINANCIAL INFORMATION

Item 1.Financial Statements

                            HYPERDYNAMICS CORPORATION
                           Consolidated Balance Sheet
                                December 31, 1997


                                     ASSETS

CURRENT ASSETS
   Cash                                                             $    20,130
   Certificate of deposit (restricted)                                   70,000
   Accounts receivable                                                  229,887
   Due from officers                                                      8,123 
   Inventory                                                             35,535
   Prepaid expenses                                                      39,277
   Revenue interest current portion                                      27,000
                                                                         ------
                  TOTAL CURRENT ASSETS                                  429,952

PROPERTY AND EQUIPMENT                                                   53,189
REVENUE INTEREST                                                        136,538
OTHER ASSETS                                                              3,348
                                                                          -----
                                                                        623,027
                                                                        =======

                  LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Convertible notes payable                                       $    350,000
   Convertible notes payable to stockholders                             37,500 
   Bank credit line                                                      70,000
   Accounts payable                                                     327,745
   Accrued expenses                                                      20,086
                                                                         ------
                  TOTAL CURRENT LIABILITIES                             805,331
                                                                        -------

STOCKHOLDERS' EQUITY
   Common stock, par value $0.001; 50,000,000 shares
      authorized; 5,660,989 shares issued and outstanding                 5,661
   Additional paid-in capital                                           736,047
   Retained (deficit)                                                  (924,012)
                                                                       -------- 
                  TOTAL STOCKHOLDERS' EQUITY                           (182,304)
                                                                       --------

                                                                        623,027
                                                                        =======



<PAGE>

                            HYPERDYNAMICS CORPORATION
                         Consolidated Income Statements
                    3 Months and 6 Months Ended December 31,
                                  1997 and 1996

<TABLE>
<CAPTION>

                                                                    3 months ended Dec. 31,            6 months ended Dec. 31, 
                                                                    1997              1996               1997            1996
                                                               --------------    --------------     -------------   ---------
<S>                                                                  <C>                <C>               <C>           <C>    

REVENUES                                                          $   310,221       $   566,062        $  466,224      $   996,940
COST OF REVENUES                                                      297,361           493,015           445,099          866,978
                                                                      -------         ---------           -------        ---------

                  GROSS MARGIN                                         12,860            73,047            21,125          129,962
                                                                      -------         ---------      ------------     ------------

OPERATING EXPENSES
   Selling                                                             19,419             6,610            20,022           14,802
   General and administrative                                         140,124           173,412           271,121          289,382
   Interest                                                             2,033               213             3,373            1,212
   Depreciation                                                         3,577            11,325             7,754           26,529
                                                                        -----            ------             -----           ------
      Total operating expenses                                        165,153           191,560           302,270          331,925
                                                                 ------------       ----------- -----------------     ------------

                  OPERATING LOSS                                   (  152,293)       (  118,513)       (  281,145)      (  201,963)

OTHER INCOME (EXPENSE)
   Miscellaneous other income
   Loss from discontinued operations                                                 (   50,982)                       (    53,351)
                                                                 ------------        -----------         ---------     ------------

                  NET LOSS BEFORE
                      INCOME TAXES                                 (  152,293)       (  169,495)        ( 281,145)      (  255,314)

INCOME TAX (BENEFIT)                                                                     50,616                             70,607
                                                           ------------------ ----------------- ----------------------------------

                  NET LOSS                                        $(  152,293)      $(  118,879)       $( 281,145)     $(  184,707)
                                                                  ===========       ============       ===========      ===========



NET LOSS PER COMMON SHARE                                              $(0.03)           $(0.02)           $(0.05)          $(0.03)
                                                                  ===========       ============       ===========      ===========

Weighted average shares outstanding                                 5,397,861         6,504,279         5,397,861        6,424,519

</TABLE>

<PAGE>


                            HYPERDYNAMICS CORPORATION
                 Consolidated Statements of Stockholders' Equity
                    6 Months Ended December 31, 1997 and 1996

<TABLE>
<CAPTION>

                                                         - -Common Stock - -       Paid-in        Retained
                                                        Shares        Amount       Capital       (Deficit)        Totals
<S>                                                      <C>             <C>           <C>          <C>             <C>
AS RESTATED
   Balances, June 30, 1996                               804,000    $    804       $ 107,242   $(     9,058)    $   98,988

Issuance of stock for merger with:
   Houston Creative Connections, Inc.                  2,102,000       2,102      (    2,102)       216,487        216,487
   RAM-Z Enterprises, Inc.                               480,175         480      (      480)

Common stock issued for cash                              59,000          59          37,941                        38,000

Common stock issued for services                       3,130,000       3,130          26,770                        29,900

         Net (loss)                                                                               ( 184,707)     ( 184,707)
                                                ---------------- ------------ ----------------   ----------     ----------

Balances, December 31, 1996                            6,575,175     $ 6,575       $ 169,371    $    22,722      $ 198,668
                                                       =========     =======       =========    ===========      =========





Balances, June 30, 1997                                5,596,989     $ 5,597       $ 696,111      $(642,867)    $   58,841

Options exercised 64,000                                      64      39,936                         40,000

         Net (loss)                                                                                (281,145)     ( 281,145)
                                                ---------------- ------------ ----------------    ---------     ----------

Balances, December 31, 1997                            5,660,989     $ 5,661       $ 736,047      $(924,012)    $( 182,304)
                                                       =========     =======       =========      =========     ==========

</TABLE>

<PAGE>


                            HYPERDYNAMICS CORPORATION
                      Consolidated Statement of Cash Flows
                    6 Months Ended December 31, 1997 and 1996
<TABLE>
<CAPTION>


                                                                                      1997              1996
                                                                                 -----------          ---------
<S>                                                                                  <C>                 <C>    
CASH FLOWS FROM OPERATING ACTIVITIES
     Net (loss)                                                                  $(  281,145)       $(  184,707)
     Adjustments to reconcile net income to cash
        provided from operating activities
         Depreciation and amortization                                                 7,754             62,410
         Common stock issued for services                                                                16,891
         Changes in:
              Accounts receivable                                                 (  190,115)           181,819
              Due from officers                                                   (    3,257)
              Inventory                                                           (    8,798)
              Other assets                                                        (   23,036)             3,940
              Accounts payable                                                       136,083        (    92,982)
              Accrued expenses                                                    (   10,876)            59,110
              Deferred revenue                                                                           21,272
              Deferred income taxes                                                                 (    70,607)
                                                                                 -----------       ------------
NET CASH USED FOR OPERATING ACTIVITIES                                            (  373,390)      (      2,854)
                                                                                 -----------      -------------

CASH FLOWS FROM INVESTING ACTIVITIES
     Increase in other assets                                                                       (    32,053)
     Collection of revenue interest                                                   13,462
     Purchase of vehicles                                                                           (    84,173)
     Purchase of equipment/leasehold improvements                                (    40,010)       (    54,353)
                                                                                ------------       ------------
NET CASH USED FOR INVESTING ACTIVITIES                                           (    26,548)        (  170,579)
                                                                                ------------        -----------

CASH FLOWS FROM FINANCING ACTIVITIES
     Sale of common stock                                                             40,000            103,682
     Net increase under line of credit                                                                   23,000
     Net increase in long-term debt                                                                      52,319
     Increase in short-term convertible notes                                        350,000
     Reduction in notes payable                                                                     (    31,009)
                                                                                ------------        ------------
NET CASH PROVIDED FROM FINANCING ACTIVITIES                                          390,000            147,992
                                                                                ------------        ------------

                  NET DECREASE IN CASH                                          (      9,938)       (    25,441)
                  CASH AT BEGINNING OF PERIOD                                         30,068            153,462
                                                                               -------------       ------------
                  CASH AT END OF PERIOD                                         $     20,130        $   128,021
                                                                                ============        ===========


SUPPLEMENTAL INFORMATION
     Interest paid                                                              $       279         $     1,212
</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.In October 1997, the Company agreed to assume the operations of two small
     companies  engaged in sales of  wireless  cable  products  and  services by
     signing  employment  agreements with the two owners of these two companies.
     One owner is to  receive a total of  $40,000  as a prepaid  commission  for
     assignment  of all sales in process.  As of December 31, 1997,  $26,461 has
     been  paid  and  is  carried  as  a  current  asset  pending  the  expected
     realization of these orders in the next accounting quarter. The other owner
     has an agreement to receive  144,000 shares of Company stock  contingent on
     collections  by the Company of at least  $144,000 in contingent FCC license
     consultation fees. A Company subsidiary, Wired & Wireless Corporation, will
     continue these sales efforts.

     3.In  October  1997,  the Company  entered  into two  executive  employment
     Agreements  whereby the Company agreed to pay a total of $14,600 per month.
     Other  incentives are based on performance.  The agreements  terminate June
     30, 1998 and October 15, 1998.

     4.The  Company  received  $350,000  from  Emerald  Bay  Interests,  Ltd. as
     convertible  debt.  The debt matured August 31, 1997 and was converted into
     5,833,333 shares of common stock at $0.06 per share in January 1998.

     5.  Options  for  336,000  shares  at $1.25  were  issued  to  professional
     consultants  for  services  during  July 1997.  Management  believes  $1.25
     represents the fair market value of the stock on the date of grant. Options
     for 3,350  shares at $1.00  were  issued to  professional  consultants  for
     services during December 1997.  Management  believes $0.625  represents the
     fair market value of the stock on the date of grant. Also in December 1997,
     options for 375,000  shares were canceled and reissued.  The exercise price
     was  changed  from $1.25 to $0.625 for  125,000  shares,  $1.00 for 125,000
     shares, and $1.375 for 125,000 shares.


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

General Discussion

         HyperDynamics  Corporation is an information  systems  services company
that provides  integrated  voice,  video, and data technology that maximizes its
customers  return on their technology  investment.  The Company has accomplished
two tactical  business  transactions  with Wireless Cable  Connection and Barris
Communications,  Inc.  that  allow it to  confidently  enter  into the  wireless
technology market. This wireless capability has been organized under the Wired &
Wireless Corporation  subsidiary and is strategically  positioned to provide the
following for HyperDynamics Corporation:

         1.   Significantly   increased   revenues   and  gross   margins   from
International customers for wireless TV equipment sales.

         2. Wireless technical  foundation to provide core capability  necessary
to offer completely  designed,  implemented,  and maintained MMDS based wireless
systems around the world.  This  capability is expected to  significantly  boost
gross margin averages as well.

         3. Wired & Wireless will provide the core technical capability to build
out and operate strategically  acquired wireless TV markets which will present a
recurring revenue opportunity.

         4.  Wired  &  Wireless  will  on  an  ongoing  basis  work  with  other
HyperDynamics  Technology  companies  to develop  integrated  wired and wireless
information  systems  infrastructures to include our customers voice, video, and
data  communication  needs  associated  with their own intranet  and  integrated
Internet access to the world.

         This  quarter  the  Company  has  successfully   retrofitted  MicroData
Systems,  Inc.'s facility for significantly enhanced PC integration services and
custom system sales.  In a subsequent event to the end of this quarter,  Wired &
Wireless has received  orders for and is shipping $378,500 of wireless equipment
sales in the 3rd quarter.  MicroData Systems, Inc. has received orders for over 
$75,000 in the early February.

Results of Operations

         As a result  of the  primary  focus on  strategic  moves  and  tactical
acquisitions  revenues decreased to $310,221 for the three months ended December
31,1997, from $566,062 for the same period in 1996. The decrease was a result of
the re-focus of the Company,  the retrofit of the  MicroData  facility,  and the
investment activity focused to establish the new Wired & Wireless subsidiary.

         Cost of Revenues decreased,  correspondingly to the sales decrease,  to
$297,361 in the period,  from $493,015 for the same period in 1996. Gross margin
percentage wise suffered in the quarter as a result of a conservative  write-off
against  cost of goods  sold of  usable  but  non-sellable  inventory.  This was
accomplished  as part of the  MicroData  Systems,  Inc.  re-focus and  retrofit.
Additionally,  certain costs  associated  with system  assembly  personnel  were
charged to costs of goods sold  which  will not  significantly  effect the gross
margin on a percentage basis as the sales volume ramps up.

         Selling, General and Administrative expenses decreased to $165,153 in 
the three month  period,  as  compared  to  $191,560  for the same  period  in 
1996.  This reduction  was  caused   significantly   by  a  reduction  in  legal
and  other professional  fees. This reduction was  accomplished  while at the 
same time two key  employees  with  employment  contracts  and salaries were 
hired for Wired & Wireless  Corporation,  during the quarter.  The Company chose
not to capitalize these  costs as startup  costs for this  first two months of 
Wired and  Wireless operations.

         Net Loss. The net loss of the Company was $(152,293) for the three 
months ended December 31, 1997, or ($.03) per share. This loss can be primarily 
attributed to the significant  operational  changes  made by  management  which 
are  expected  to significantly  improve the results of operations  starting in 
the quarter to end on March 31, 1998.

Liquidity and Capital Resources

         During this quarter the key bridge  financing  plan was extended as the
President  of the  Company  negotiated  the funding to be extended to as much as
$500,000 on October 20,  1997.  The bridge  financing  was  completed at a total
funding of $350,000.  In a subsequent  event,  the  President of the Company has
negotiated  the bridge loan to be converted to  restricted  common stock at less
than the previously agreed  conversion.  Under the negotiated terms no stock was
converted  for accrued  interest and the debt has been  completely  converted to
equity.

         A  requirement  for  the  HyperDynamics  business  plan  is  to  obtain
significant  equity  funding  starting in the 3rd quarter 1998 for the following
purposes:

         1. To support our growing working  capital  requirement for our rapidly
expanding  sales  volume so as to provide the  necessary  liquidity to keep this
progress from slowing down.

         2. To help close additional tactical acquisitions that will immediately
enhance  the  core   capabilities,   sales  volume,   margins  and  bottom  line
profitability of the Company.

         3. To provide working capital and some investment capital for marketing
and
sales  activity  that  will  allow  the most  talented  people  of our  tactical
acquisitions  to focus on  increased  sales  forecast  and  critical  operations
instead of being bogged down by having to manage tight cash flow.

         4. To provide investment capital for strategic,  money making technical
assets including hardware and software purchases and software development.

         5. To step closer to qualification for small-cap NASDAQ qualifications.

         The company has plans to tactically  raise a minimum of five million in
the next 9 months to support  these  requirements.  In addition to other capital
raising plans and  strategies to be determined  and specified in the 3rd quarter
of 1998,  the  Company can  possibly  obtain some  additional  capital  upon the
exercise of previously issued warrants and outstanding options for common stock.

Prospective Information

         HyperDynamics  Corporation has positioned itself to support and sustain
the  anticipated  significant  revenue  growth over the  remainder of the fiscal
year.

         MicroData  Plans - The  retrofitted  MicroData  facility  is capable of
handling  multiples  of sales  volume  compared to prior years with regard to PC
integration type sales.

         Integration   sales  focus  -  MicroData's   primary  goals  include  a
concentrated  effort  to build  it's  integrated  system  sales  volume  with an
increasing  margin  due to an  increasing  ratio  of  professional  services  to
commodity  hardware sales. To this end the Company is building the  capabilities
of a separate group to concentrate on accounting  systems and integrated network
sales. Details of this systems focus will be released further in the 3rd quarter
of 1998.

         Software Development - Additionally,  MicroData has completed its first
in-house software development project which will significantly  enhance accurate
response  time for  quotation  of  computer  hardware  and  software.  The newly
developed application,  QuoteSQL,  uses the Microsoft SQL server database.  This
application  will be used in-house and be marketed as an  application to enhance
the capabilities of Great Plains Software's  Dynamics C/S+ SQL accounting system
as well as potentially  other SQL database based accounting  systems.  This is a
natural  direction for  MicroData's  client server based  software  development,
given  its  relationship  with  Great  Plains.  This  new  tool is  expected  to
dramatically increase the company's  productivity.  It is expected that customer
demands will direct the company into other vertically based software development
projects which will greatly enhance higher margin integrated system sales.

         Wired  and  Wireless  Plans  - By  adding  the  new  Wired  &  Wireless
subsidiary, revenues and gross profit margins are increasing substantially.

         Wireless TV equipment  sales- Through the forecast of Joe Barris,  Vice
President,  the  forecast  for  international  sales of wireless TV equipment is
growing  rapidly.  The Company will  continue to invest in the area of sales and
marketing  for  wireless  TV  equipment  sales.  Additionally,  the  Company  is
negotiating a distribution  agreement with key  manufacturers  of  strategically
based wireless  equipment.  The Company plans to market its own private brand of
down-converter and transmitter equipment.

         Wireless  System Sales- The company  plans to attend the  international
wireless  cable show in Singapore,  China in late March 1998.  Among other goals
the Company  will start to make  international  customers  aware of the turn-key
wireless system talent that it has available to service their wireless needs.

         As of February 14, 1998 and looking to the end of the 3rd quarter,  the
Company has a very good chance to show profits for the quarter. This progress is
expected to continue at a growing pace.

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
                  From 8-K regarding a change in control of the Company.


<PAGE>


                                    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 authorized.

                                   HYPERDYNAMICS CORPORATION
                                   (Registrant)

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

Dated: February 17, 1998

<PAGE>

                                 EXHIBITS INDEX

     Exhibit Number                 Description

        27                    Financial Data Schedule