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:  September 30,
         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 October 31, 1998, 12,208,321 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
          Balance Sheet at September 30,1998 (unaudited)                                                  3
          Consolidated Statements of Income for the three
                  months ended September 30,1998
                 and 1997 (both unaudited)                                                                4
          Consolidated Statements of Stockholders' Equity
                 for the three months September 30,1998
                 and 1997 (both  unaudited)                                                               5
          Consolidated Statements of Cash Flows for the three
                 months ended September 30,1998
                 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                                                       7

Part II       Other Information

    Item 6      Exhibits and Reports on Form 8-K                                                          9
          (a)   Exhibits
          (b)   Reports on Form 8-K
    Signatures                                                                                            9

</TABLE>

<PAGE>


                          Part 1 Financial Information


    Item 1.    Financial Statements
                            HYPERDYNAMICS CORPORATION
                       (Formerly RAM-Z Enterprises, Inc.)
                                  Balance Sheet
                               September 30, 1998

<TABLE>
<S>                                                                                  <C>

                      Assets
                      Current Assets
                         Cash                                                           $ 0
                         Accounts Receivable- trade                                 228,729
                         Accounts Receivable- other                                   1,008
                         Inventory                                                   71,000
                         Revenue interest current portion                            35,970
                         Other                                                        4,000
                                                                              -------------------
                                                        Total Current Assets        340,707
                      Property and Equipment                                         81,246
                      Revenue Interest                                               94,157
                      Other Assets                                                   52,798
                                                                              ===================
                                                                                  $ 568,908
                                                                              ===================

                      Liabilities and Stockholders' Equity
                      Current Liabilities
                         Accounts payable                                           254,978
                         Accrued expenses                                            14,224
                                                                              -------------------
                                                   Total Current Liabilities        242,326
                      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)                                      (1,280,002)
                                                                              ------------------ 
                                                  Total Stockholders' Equity        299,706
                                                                              ===================
                                                                                  $ 568,908
                                                                              ===================
</TABLE>

                                        See notes to financial statements.



<PAGE>


                            HYPERDYNAMICS CORPORATION
                       (Formerly RAM-Z Enterprises, Inc.)
                         Consolidated Income Statements
                   3 Months Ended September 30, 1998 and 1997
<TABLE>
<CAPTION>

                                                                    1998               1997
<S>                                                                <C>                 <C>      
                  Revenues                                         $ 419,403           $ 156,003
                  Cost of Revenues                                   297,677             147,738
                                                             ------------------- ------------------
                                               Gross Margin          121,726               8,265
                  Operating Expenses
                     Selling                                          14,677                 603
                     General and Administrative                      178,976             130,997
                     Interest                                                              1,340
                     Depreciation                                      8,309               4,177
                                                             ------------------- ------------------
                                   Total Operating Expenses          201,962             137,117
                                                             ------------------- ------------------
                                             Operating Loss          (80,236)           (128,852)
                  Other Income (Expense)
                     Interest income                                   1,425
                     Miscellaneous other expense             _____________________________________
                               Net Loss Before Income Taxes          (78,811)           (128,852)
                  Income Tax (Benefit)
                                                             -------------------------------------
                                                   Net Loss         $(78,811)          $(128,852)
                                                             =================== ==================
                                  Net Loss per Common Share           $(0.01)             $(0.02)
                  Weighted average shares outstanding              12,208,321          5,596,989
</TABLE>

                                        See notes to financial statements.



<PAGE>


                            HYPERDYNAMICS CORPORATION
                       (Formerly RAM-Z Enterprises, Inc.)
                 Consolidated Statements of Stockholders' Equity
                   3 Months Ended September 30, 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
   Net (loss) for quarter-                                                                   (128,852)     (128,852)
   Balances - September 30, 1998               5,596,989       $5,597         $696,111      $(771,719)     $(70,011)

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

   Net (loss)                                                                                 (78,811)      (78,811)
   Balances - September 30, 1998              12,208,321      $12,208       $1,567,500    $(1,280,002)      $299,706
</TABLE>

                                        See notes to financial statements.



<PAGE>


                            HYPERDYNAMICS CORPORATION
                       (Formerly RAM-Z Enterprises, Inc.)
                      Consolidated Statement of Cash Flows
                   3 Months Ended September 30, 1998 and 1997
<TABLE>
<CAPTION>

                                                                                 1998                1997
<S>                                                                             <C>                 <C>
      Cash flows from operating activities
         Net (loss)                                                              $(78,811)          $(128,852)
      Adjustments to reconcile net income to cash provided from
      operating activities
         Depreciation and amortization                                               8,309               4,177
         Common stock issued for services
      Changes in:
              Certificate of deposit - restricted                                   94,000                   0
            Accounts receivable                                                    (80,475)            (23,314)
            Accounts receivable- other                                              30,000
            Due from officers                                                                           (3,192)
            Inventory                                                               (5,492)
            Other assets                                                            46,301              27,242
            Accounts payable                                                       (16,235)            (67,618)
            Accrued expenses                                                          (525)              6,737
            Accrued taxes                                                            1,871
                                                                           ------------------ -------------------
                                   Net cash used for operating activities           (1,057)           (184,820)
      Cash flows from investing activities
         Collection of revenue interest                                                                  4,845
         Purchase of property and equipment                                         (3,851)            (28,988)
                                                                           ------------------ -------------------
                        Net cash provided (used) for investing activities           (3,851)            (24,143)
      Cash flows from  financing  activities  Sale of common  stock Net increase
         under line of credit Net increase of short-term notes payable
         Net increase of short-term  notes payable to related party Net increase
         in long term debt
         Increase in short-term convertible notes                                                      200,000
                                                                           ------------------ -------------------
                              Net cash provided from financing activities                0             200,000
                                                                           ------------------ -------------------

      Net decrease in cash                                                          (4,908)             (8,963)
                                              Cash at beginning of period            4,908              30,068
                                                                           ------------------ -------------------

                                                    Cash at end of period              $ 0             $21,105
      Supplemental Information
         Interest paid                                                                  $0                $496
</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.   The Company has no long-term debt, contingent liabilities,  obligations, or
     other financing arrangements as of the end of the first quarter.

3. The Company  has not issued any shares and has not granted any stock  options
during the first quarter.


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

General Discussion
HyperDynamics  Corporation  is  an  information  system  services  company  that
provides  integrated  voice,  video  and data  technology  that  maximizes  it's
customers  return on their  technology  investment.  The Company is beginning to
show positive results of its investment in Wired & Wireless Corporation and it's
full service information systems strategy changes compared to last year.

During the past fiscal year, the Company  focused  resources  available to it on
building  up the  potential  for sales of  wireless  television  equipment.  The
results of this quarter discussed below reflects the beginnings of some positive
results in this  area.  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.  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
As a result of the prior  years  focus on Wired & Wireless  and the  significant
changes in strategy with MicroData  Systems,  revenues increased to $419,403 for
the three months ended  September 30, 1998, from $156,003 for the same period in
1997. Both subsidiaries  contributed to the increase with 274,501 generated from
Wired and Wireless.
Wired and Wireless was not in existence in the same period last year.

Cost of Revenues increased,  correspondingly to the sales increase,  to $297,677
in the period from $147,738 for the same period in 1997.



Gross margin increased to 40.89% in the period from 5.59% for the same period in
1997.

Selling,  General and Administrative expenses increased to $201,962 in the three
month period,  as compared to $137,117 for the same period in 1997. The increase
was  primarily  due to the  addition of the  administrative  overhead of Wired &
Wireless Corporation.

Net Loss.  The net loss of the Company was  $(78,811) for the three months ended
September  30, 1998, or ($.01) per share as compared to $(128,852) or $(.02) for
the same period in 1997. As stated above, the reduction of loss can be primarily
attributed  to the  increase in Wired & Wireless  business  and the  significant
operational  changes made by  management  over the past year.  These  changes in
strategy  are expected to  significantly  improve the results of  operations  in
future quarters.


Liquidity and Capital Resources
At September 30, 1998 the Company's  current ratio of current  assets to current
liabilities was 1.27. 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.  With the investment in and diversification of the new
Wired & Wireless  subsidiary,  revenues and gross profit margins are expected to
increase substantially. Coupled with improved sales and marketing strategies for
increased IS 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.


<PAGE>


                            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: November 12, 1998