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: December 31, 1998

                                                        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 February 10, 1999, 12,226,503 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 December 31, 1998 (unaudited)                                                         3
          Consolidated Statements of Income for the three
                 and six months ended December 31, 1998
                 and 1997 (both unaudited)                                                                4
          Consolidated Statements of Stockholders' Equity
                 for the six months December 31, 1998
                 and 1997 (both unaudited)                                                                5
          Consolidated Statements of Cash Flows for the six
                 months ended December 31, 1998
                 and 1997 (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 Form 8-K                                                         10
          (a)   Exhibits
          (b)   Reports on Form 8-K
    Signatures                                                                                           10
</TABLE>


<PAGE>


Part 1 Financial Information


    Item 1.    Financial Statements
                            HYPERDYNAMICS CORPORATION
                                AND SUBSIDIARIES
                           Consolidated Balance Sheet
                                December 31, 1998

<TABLE>
<S>                                                                                   <C>

                     Assets
                     Current Assets
                        Cash - Operating                                                 56
                                   Other                                              1,493
                        Accounts Receivable - trade                                  84,243
                                                             other                    1,008
                        Inventory                                                    99,454
                        Revenue interest current portion                             35,970
                        Prepaid expenses                                              4,000
                                                                             --------------------
                                                       Total Current Assets         226,224
                     Property and Equipment
                     Computers, communication & IS infrastructure                   163,600
                     Office furniture and equipment                                   9,590
                     Leasehold improvements                                           9,165
                                                                             --------------------
                        Total property and equipment                                182,355

                           Accumulated depreciation                                (98,340)
                                                                             --------------------
                                           Total net property and equipment          84,015
                     Other Assets
                     Investment in revenue sharing - long term                       84,421
                     Investment in affiliates                                             0
                     Intangible assets - net (PS customer list)                      45,900
                     Deposits                                                         3,348
                     Other                                                            1,000
                                                                             --------------------
                                                         Total other assets         134,669
                                                                             ====================
                     Total Assets                                                   444,908
                                                                             ====================


</TABLE>











<PAGE>




                            HYPERDYNAMICS CORPORATION
                                AND SUBSIDIARIES
                           Consolidated Balance Sheet
                                December 31, 1998

<TABLE>
<S>                                                                                   <C>    


                     Liabilities and Stockholders' Equity
                     Current Liabilities
                        Notes payable to bank - w/c                                       0
                        Accounts payable - trade                                    230,593
                        Accrued interest                                                  0
                        Accrued payroll and expenses                                  9,961
                        Accrued payroll taxes                                             0
                        Accrued income taxes                                              0
                        Sales taxes payable                                           6,463
                                                                             --------------------
                                                  Total Current Liabilities         247,017

                     Other Liabilities and Deferred Income
                        Due to- from affiliate corporations                               0
                        Due to KPW                                                   29,702
                                                                             --------------------
                                      Total Liabilities and Deferred Income         276,719

                     Stockholders' Equity
                        Common stock, par value $0.001; 50,000,000 shares            12,208
                        authorized; 12,208,321 shares issued and
                        outstanding.
                        Additional paid-in capital                                1,567,500
                        Retained (deficit)                                      (1,411,519)
                                                                             --------------------
                                                 Total Stockholders' Equity         168,189
                                                                             --------------------
                     Total Liabilities and Stockholders Equity                     $444,908
                                                                             ====================

                                        See notes to financial statements.


</TABLE>

<PAGE>


                            HYPERDYNAMICS CORPORATION
                                AND SUBSIDIARIES
                         Consolidated Income Statements
             3 Months and 6 Months Ended December 31, 1998 and 1997
<TABLE>
<CAPTION>

                                                3 months ended December 31             6 months ended December 31
                                                 1998                1997               1998                1997
<S>                                            <C>                <C>                 <C>                <C>      
Revenues                                       $177,265           $ 310,221           $596,668           $ 466,224
Cost of Revenues                                 98,022             297,361            395,699             445,099
                                          ------------------- ------------------- ------------------ -------------------
                            Gross Margin         79,243              12,860            200,969              21,125
Operating Expenses
   Selling                                        5,543              19,419             20,220              20,022
   General and Administrative                   182,703             140,124            361,679             271,121
   Interest                                       4,702               2,033              3,277               3,373
   Depreciation                                   9,840               3,577             18,149               7,754
                                          ------------------- ------------------- ------------------ -------------------
                Total Operating Expenses        202,788             165,153            403,325             302,270
                                          ------------------- ------------------- ------------------ -------------------
                          Operating Loss      (123,545)           (152,293)          (202,356)           (281,145)
Other Income (Expense)
   Gain (loss) on securities sale, other              0                   0                  0                   0
   Other                                        (7,972)                   0            (7,972)                   0
                                          ------------------- ------------------- ------------------ -------------------
            Net Loss Before Income Taxes      (131,517)           (152,293)          (210,328)           (281,145)
Income Tax (Benefit)
                                Net Loss     $(131,517)          $(152,293)          (210,328)          $(281,145)
               Net Loss per Common Share        $(0.01)             $(0.03)            $(0.02)             $(0.05)
Weighted average share outstanding           12,208,321           5,397,861         12,208,321           5,397,861
</TABLE>

                       See notes to financial statements.



<PAGE>


                            HYPERDYNAMICS CORPORATION
                                AND SUBSIDIARIES
                 Consolidated Statements of Stockholders' Equity
                    6 Months Ended December 31, 1998 and 1997
<TABLE>
<CAPTION>

                                                Common Stock
                                            Shares         Amount     Paid in Capital  Retained (Deficit)      Totals
<S>                                          <C>           <C>              <C>             <C>                <C>    
              As Restated
   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) - 6 months                                                                    (281,145)       (281,145)
                                       ------------------------------------------------------------------------------------
   Balances - December 31, 1997           5,660,989       $5,661         $736,047          $(924,012)      $(182,304)

   Balances - June 30, 1998              12,208,321      $12,208       $1,567,500        $(1,201,191)        $378,517

   Net (loss) - 6 months                                                                    (210,328)       (210,328)
                                       ------------------------------------------------------------------------------------
   Balances - December 31, 1998          12,208,321      $12,208       $1,567,500        $(1,411,519)        $168,189

                                        See notes to financial statements.


</TABLE>


















<PAGE>








                            HYPERDYNAMICS CORPORATION
                                AND SUBSIDIARIES
                      Consolidated Statement of Cash Flows
                    6 Months Ended December 31, 1998 and 1997
<TABLE>
<CAPTION>

                                                                                 1998                1997
<S>                                                                              <C>                  <C>   
    
Cash flows from operating activities
         Net (loss)                                                          $(210,328)          $(281,145)
      Adjustments to reconcile net income to cash provided from
      operating activities
         Depreciation and amortization                                           18,149               7,754
         Note conversion                                                          7,972                   0
         Gain on sale of securities                                                   0                   0
         Common stock issued for services                                             0                   0
      Net (increase) decrease receivables and other
            Certificate of deposit - restricted                                  94,000                   0
            Accounts receivable - trade                                          64,011           (190,115)
                                               Other                             30,000                   0
            Due from officers                                                         0             (3,257)
            Inventory                                                          (33,946)             (8,798)
            Prepaid expenses                                                     36,000                   0
            Revenue sharing                                                      20,037                   0
            Deposits and Other assets                                                 0            (23,036)
      Net increase (decrease) accruals / payables
            Accounts payable - trade                                           (40,619)             136,083
            Accrued expenses                                                      9,436            (10,876)
            Accrued taxes                                                       (5,890)                   0
              Other                                                             (5,950)                   0
                                                                           ------------------ -------------------
                                  Net cash (used) by operating activities      (17,128)           (373,390)
      Cash flows from investing activities
         Purchase of property and equipment                                    (13,911)                   0
         Collection of revenue interest                                               0              13,462
         Purchase of vehicles                                                         0                   0
         Purchase of equipment/leasehold improvements                                 0            (40,010)
                                                                           ------------------ -------------------
                                   Net cash used for investing activities      (13,911)            (26,548)
      Cash flows from financing activities
         Sale of common stock                                                         0              40,000
         Net increase under line of credit                                            0                   0
         Net increase in long term debt                                               0                   0
         Increase in short-term convertible notes                                27,680             350,000
         Reduction in notes payable                                                   0                   0
                                                                           ------------------ -------------------
                              Net cash provided from financing activities        27,680             390,000
                                                                           ------------------ -------------------
                                                     Net decrease in cash       (3,359)             (9,938)
                                              Cash at beginning of period         4,908              30,068
                                                                           ------------------ -------------------
                               Cash and cash equivalents at end of period       $ 1,549             $20,130
      Supplemental Information
         Interest paid                                                                                 $279
</TABLE>

                       See notes to financial statements.



<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 second
     quarter of fiscal year 1999.  The note payable to Kent Watts has an accrued
     balance of $29,702 at  12/31/98.  It is  convertible  at the option of Kent
     Watts at a price of $2.50  per  share  and  accrues  interest  at 9% annual
     percentage rate.

3.   The Company has not issued any shares and has not granted any stock options
     during the first or second quarter of fiscal year 1999.


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

General Discussion
HyperDynamics  Corporation is an information  technology  services  company that
maximizes it's customers  return on their technology  investment.  The Company's
strategies  to increase  service  revenues and higher  margin  based  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 IS services and starting
to invest more  heavily in sales and  marketing  of the Great  Plains  mid-range
accounting  system and other enterprise level  applications.  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.  Additionally,  the  company  became
certified  and  trained  professionally  with the "Image Now"  document  imaging
system  developed by Perceptive  Vision,  Inc. The Company's  sales  forecast is
expected to continue to grow with enterprise level technical products.


Results of Operations
Wired & Wireless  experienced  no revenues  during the  quarter  but  anticipate
several orders this quarter.  MicroData Systems, Inc. continued on an increasing
trend higher margin service revenues.  The net resulted in total revenue for the
quarter  decreasing  to $177,265 for the three  months ended  December 31, 1998,
from $310,221 for the same period in 1997.

Cost of Revenues decreased, correspondingly to the sales decrease, to $98,022 in
the period from $297,361 for the same period in 1997.

Gross margin  increased to 44.70% in the period from 4.1% for the same period in
1997.

Selling,  General and Administrative expenses increased to $188,246 in the three
month period,  as compared to $159,543 for the same period in 1997. The increase
was  primarily  due to the  addition of the  administrative  overhead of Wired &
Wireless  Corporation which accounted for $50,586 of the quarter ending December
31, 1998 amount.

Net Loss.  The net loss of the Company was $(131,517) for the three months ended
December 31, 1998,  or ($.01) per share as compared to  $(152,293) or $(.02) for
the same  period in 1997.  The  reduced  loss even with a Wireless  downturn  in
revenues shows marked improvements and development of the higher margin based IT
service business and integrated  technology products.  These changes in strategy
along with plans for substantially increased sales and marketing and acquisition
activity  are expected to  significantly  improve the results of  operations  in
future quarters.


Liquidity and Capital Resources
At December 31, 1998 the Company's  current  ratio of current  assets to current
liabilities was .92. The Company is working  diligently to improve its liquidity
through positive results of operations.  The Company does not have any long-term
debt or other financing  arrangements.  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.

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.

               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: February 10, 1999