U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549

                                   FORM 10-QSB

   (Mark One)
   [X] Quarterly report pursuant Section 13 or 15(d) of the Securities
       Exchange Act of 1934
     
   For the quarterly period ended March 31, 1997

   [ ] Transition report pursuant Section 13 or 15(d) of the Exchange Act of
       1934

   For the transition period from ________________ to __________________

   Commission file number 0-26344

                          Golf Technology Holding, Inc.
        (Exact Name of Small Business Issuer as Specified in Its Charter)

                   Idaho                              59-3303066
   (State or Other Jurisdiction of               (I.R.S. Employer ID #)
   Incorporation or Organization) 

      13000 Sawgrass Village Circle, #30, Ponte Vedra Beach, Florida 32082
                  (Address of Principal Executive Offices)

                                  904/273-8772
                (Issuer's Telephone Number, Including Area Code)

                                       N/A
   (Former Name, Former Address and Former Fiscal Year, if Changed Since Last
   Report)

   Check whether the issuer: (1) 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   ______

               APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY 
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

   Check whether the registrant filed all documents and reports required to
   be filed by Section 12, 13 or 15(d) of the Exchange Act after the
   distribution of securities under a plan confirmed by a court.

                        Yes _________    No __________

                      APPLICABLE ONLY TO CORPORATE ISSUERS

   State the number of shares outstanding of each of the issuer's class of
   common equity, as of the latest practicable date:  $.001 par value Common
   Stock - 4,734,739 as of May 14, 1997


<PAGE>
                          GOLF TECHNOLOGY HOLDING, INC.

                                      INDEX


                                                                         Page
                                                                       Number
                         PART I - FINANCIAL INFORMATION


   Item 1.   Financial Statements

             Balance Sheet as of March 31, 1997  . . . . . . . . . . . .    3

             Statements of Operations for the three month periods ended
                  March 31, 1997 and 1996  . . . . . . . . . . . . . . .    4

             Statements of Cash Flows for the three month periods ended
                  March 31, 1997 and 1996  . . . . . . . . . . . . . . .    5

             Notes to Financial Statements . . . . . . . . . . . . . . .    6

   Item 2.   Management's Discussion and Analysis of Financial Condition
                  and Results of Operations  . . . . . . . . . . . . . . .  9

                   PART II - OTHER INFORMATION AND SIGNATURES

   Item 3.   Defaults Upon Senior Securities . . . . . . . . . . . . . . . 12
   Item 6.   Exhibits and Reports on Form 8-K  . . . . . . . . . . . . . . 12

   Signatures  . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   13

                          PART III - INDEX TO EXHIBITS

<PAGE>
                         PART I.  FINANCIAL INFORMATION

                                     ITEM 1
                          GOLF TECHNOLOGY HOLDING, INC.
                                  BALANCE SHEET
                                   (Unaudited)

                                                           March 31,
             Assets                                          1997
                                                          (Unaudited)
   Current assets:
        Cash                                            $    319,439
        Accounts receivable, net of allowance of           1,511,609
        $167,009

        Inventories                                          845,139
        Prepaid Inventory                                    136,875
        Prepaid Expenses                                     214,760
        Other current assets                                  88,812
                                                          ----------
             Total current assets                          3,116,634
                                                          ----------
   Property and equipment, at cost:
        Furniture and fixtures                                65,303
        Machinery and equipment                              382,337
        Leasehold improvements                                11,885
                                                          ----------
                                                             459,526
        Less accumulated depreciation                       (157,373)
                                                          ----------
                                                             302,153

   Notes receivable from related parties                      70,737
   Certificates of deposits, restricted                      162,771
   Deposits                                                  116,801
   Other assets                                               28,969
                                                          ----------
             Total assets                               $  3,798,065
                                                          ==========
        Liabilities and Stockholders' Equity

   Current liabilities:
        Accounts payable                                     700,376
        Notes payable to related parties                      32,500
        Accrued liabilities                                   37,814
                                                          ----------
             Total current liabilities                       770,690
                                                          ----------
   Shareholders' equity:
        Preferred stock, Series A 9% Cumulative
          Convertible, $.001 par value per share; 
          aggregate involuntary liquidation 
          preference of $2,141,627 ($5.50 share), 
          5,000,000 shares authorized, 389,600
          shares issued and outstanding                          390
        Preferred stock, Series B Convertible
           $.001 par value per share; aggregate
           involuntary liquidation preference of 
           $8,303,000 ($1,000.00 share), 10,000 
           shares authorized, 8,303 shares issued 
           and outstanding                                         8
       Preferred stock, Series C Convertible,
           $.001 par value per share; aggregate
           involuntary liquidation preference of 
           $4,500,000 ($1,000.00 share), 5,000 
           shares authorized, 4,500 shares issued 
           and outstanding                                         5
       Common stock, $.001 par value, 25,000,000 
           shares authorized, 4,734,739 shares issued
           and outstanding                                     4,735
        Additional paid-in capital                        12,712,335
        Accumulated deficit                               (9,690,098)
                                                          ----------
             Total stockholders' equity                    3,027,375
                                                          ----------
             Total liabilities and stockholders'        
             equity                                     $  3,798,065
                                                          ==========

   See accompanying notes to financial statements.

<PAGE>
                               ITEM 1. CONTINUED
                          GOLF TECHNOLOGY HOLDING, INC.
                            STATEMENTS OF OPERATIONS
                                 (Unaudited)


                                                  Three months ended
                                                      March 31,
                                               1997               1996
                                                     (Unaudited)

   Net Sales                            $  1,684,920            537,740
   Cost of sales                             753,394            187,172
                                          ----------         ----------
        Gross profit                         931,526            350,568

   Selling and marketing expenses            621,532            591,773
   General and administrative expenses       320,456            525,316
   Research and development costs             -                 144,925
                                          ----------         ----------
        Operating income (loss)              (10,461)          (911,446)
                                          ----------         ----------
   Other income (expense):
        Royalty income                        50,000             13,330
        Other, net                                30              6,069
                                          ----------         ----------
                                              50,030             19,399

        Net income (loss) before income
        taxes                                 39,569           (892,047)

   Income taxes
        Net income (loss)                      -                  -    
                                          ----------         ----------
                                              39,569           (892,047)

   Preferred stock cumulative dividends      (43,230)           (64,404)

   Deemed dividend on preferred stock     
   (note 5)                               (2,250,000)             -
                                          ----------         -----------
   Net income (loss) for common   
   stockholders                         $ (2,253,661)          (956,451)
                                          ==========         ==========
   Net income (loss) per average
   outstanding common share:
        Primary:
             Net income (loss)                 (0.50)             (0.25)
             Weighted average shares
               outstanding                 4,525,000          3,775,796
                                          ==========         ==========


   See accompanying notes to financial statements.

<PAGE>
                                ITEM 1. CONTINUED
                          GOLF TECHNOLOGY HOLDING, INC.
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

                                                      Three months ended
                                                           March 31,
                                                      1997          1996
                                                          (unaudited)
   Cash flows from operating activities:
        Net loss                              $    39,569       (892,047)
        Adjustments to reconcile net loss 
         to net cash used in operating 
         activities:
             Depreciation and amortization         16,775         16,899

             Changes in operating assets and
             liabilities:
                  Accounts receivable            (984,460)      (102,259)
                  Inventories                     216,676       (111,117)
                  Equipment for sale              275,000          -    
                  Prepaid Inventory                34,889          -    
                  Prepaid and other assets       (111,949)        15,350
                  Deposits and other assets        17,209       (118,061)
                  Accounts payable and 
                   accrued liabilities         (1,276,963)       377,136
                                               ----------     ----------
                       Net cash used in 
                          operating activities (1,773,254)      (814,009)
                                               ----------     ----------
   Cash flows from investing activities:
        Investment in certificates of deposit,
          restricted                              (40,000)          (388)
        Notes receivable from related parties       -             (7,235)
        Capital expenditures                      (81,762)       (24,113)
                                               ----------     ----------
             Net cash used in investing
               activities                        (121,762)       (31,736)
                                               ----------     ----------
   Cash flows from financing activities:
        Bank overdraft                              -              4,725
        Repayment of notes payable               (705,000)         -    
        Proceeds from notes payable                 -            495,000
        Net proceeds from issuance of
          preferred and common stock            2,859,349        320,200
                                               ----------     ----------
             Net cash provided by financing
               activities                       2,154,349        819,925
                                               ----------     ----------
             Net increase (decrease) in cash      259,333        (25,910)

        Cash balance, beginning of period          60,106         25,910
                                               ----------     ----------
        Cash balance, end of period           $   319,439              0
                                               ==========     ==========


   See accompanying notes to financial statements.

<PAGE>
                               ITEM 1. CONTINUED
                          GOLF TECHNOLOGY HOLDING, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)

        1.   The Company.  Golf Technology Holding, Inc. (the "Company")
   designs, manufactures and markets Snake Eyes/R/ golf clubs.  Snake Eyes/R/
   are tour-quality golf clubs marketed to the premium-priced segment of the
   golf equipment market.

        2.   Basis of Presentation.  The accompanying interim unaudited
   financial statements have been prepared pursuant to the rules and
   regulations of the Securities and Exchange Commission, and reflect all
   adjustments which, in the opinion of management, are necessary to properly
   state the results of operations and financial position.  Certain
   information and footnote disclosures normally included in financial
   statements prepared in accordance with generally accepted accounting
   principles have been condensed or omitted pursuant to such rules and
   regulations, although management believes that the disclosures are
   adequate to make the information presented not misleading.  The results of
   operations are not necessarily indicative of the results for the full
   year.  These financial statements should be read in conjunction with the
   financial statements and notes thereto included in the Company's Form 10-
   KSB, as filed with the Securities and Exchange Commission on March 31,
   1997.

        3.   Liquidity and Capital Resources.  Current marginal earnings and
   prior losses at March 31, 1997 cause concerns about the Company's
   liquidity and its ability to continue operations at current levels and
   expand its product lines.  During January 1997, the Company successfully
   issued a private Series C 3.33% Convertible Preferred Stock Offering which
   netted proceeds of $2,900,000.  In addition, management projects that the
   Company will be profitable and will have positive cash flow from
   operations during the remainder of 1997 based on current sales orders and
   expense levels. However, it is not certain that the Company will be able
   to realize management's sales projections.

   Based on communications with current and prospective investors, the
   Company believes that it will be able to raise sufficient capital, if
   needed, which together with projected cash flow from operations, will be
   sufficient to meet the Company's working capital needs for at least the
   next two years.  However, the Company's ability to raise further capital
   is uncertain.

        4.   Series C Preferred Stock.  On January 27, 1997, the Company
   issued 4,500 shares of its Series C 3.33% Convertible Preferred Stock,
   $1,000 face value ($4,500,000)  and warrants valued at $750,000 to
   purchase 501,724 shares of Common Stock of the Company at prices ranging
   from $3.00 - $3.625 per share and exercisable starting January 27, 1997
   through December 31, 2002, for proceeds of $2,900,000, net of brokers fees
   of $100,000.  The stock was issued pro-rata, in two separate parcels of
   1,875 and 2,625 shares to Common shareholders of the Company.  The holders
   of the issued stock shall be beneficially entitled similar to that of the
   Series B preferred shareholders.  Series C Preferred Stock dividends are
   payable annually  in arrears, at the option of the Company in cash or
   additional shares of Series C Preferred Stock.  No dividends shall be
   declared and paid on the Series C Preferred Stock (other than dividends
   payable solely in shares of Series C Preferred Stock) unless all accrued
   but unpaid dividends on the Company's existing Series A Preferred Stock
   have been declared and paid in cash.  Such dividends are not cumulative. 
   If all shares of Series C Preferred Stock have not been converted into
   common stock by December 31, 1997, such dividends shall begin to
   accumulate on all shares of Series C Preferred Stock which remain
   outstanding at such time.

   Upon liquidation, dissolution or winding up of the Company, holders of
   Series C Preferred Stock are entitled to receive liquidation distributions
   equivalent to $1,000 per share before any distribution to holders of
   Common Stock.  The liquidation preference of the Series C Preferred Stock
   shall be junior in right of payment to the liquidation preference of the
   Company's existing class of Series A Preferred Stock and shall be a pari
   passu basis with the right of payment to the liquidation preference of the
   Company's existing class of Series B Preferred Stock.  The Series C
   Preferred Stock is convertible at any time commencing forty-five days
   after the last day on which there is an original issuance of the Series C
   Preferred Stock.  The conversion price equals the lesser of the average
   closing bid for the five days prior to conversion or $2.25.  Each share of
   Series C Preferred Stock outstanding on June 30, 2002 shall be
   automatically converted into Common Stock at the conversion price then in
   effect.

   As noted above, the Company issued the Series C Preferred Stock at a
   discount of $2,250,000.  Since the Series C Preferred Stock is convertible
   at its face value amount into common stock, the conversion results in a
   beneficial conversion feature to the preferred shareholder.  On March 28,
   1997, a newly adopted position was formally issued by the Securities and
   Exchange Commission which requires companies to report the value of
   beneficial conversion features on preferred stock issued as a dividend to
   preferred shareholders.  Accordingly, such amount has been reported as a
   "deemed dividend on preferred stock" on the statement of operations for
   the three months ended March 31, 1997.

   Proceeds from this offering have been used to repay the $650,000, 10%
   unsecured demand note payable to related party as mandated by the Series C
   Preferred Stock subscription.

        5.   Equity Conversion.  On February 4, 1997, a related party of the
   Company elected to convert 928 shares of Series B Preferred Stock into
   384,663 shares of the Company's Common Stock.  The 384,663 shares of
   common stock were issued to the related party effective February 18, 1997.
 

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

        The following management's discussion and analysis of financial
   condition and results of operations addresses the performance of the
   Company for the three month periods ended March 31, 1997 and 1996
   (unaudited) and should be read in conjunction with the Company's Financial
   Statements (including the notes thereto) appearing elsewhere in this
   document. 

   For the Three Months Ended March 31, 1997

        The Company's net sales (unaudited) for the three month period ending
   March 31, 1997 and 1996 were $1,684,920 and $537,740, respectively. 
   Management attributes the increase in sales for the three months ended
   March 31, 1997 to expansion of the Company's product line, early spring
   promotions and the increase in product availability.  

   The Company's gross profit (and gross profit margin) for the three months
   ended March 31, 1997 was $931,526 (55%) compared to $350,568 (65%) for the
   three months ended March 31, 1996.  The increase in reported gross profit
   is relative to the increase in sales as discussed above.  The decrease in
   gross profit percentage is due to reduced pricing on limited sales of 
   promotional inventory.

   Operations resulted in net losses of $10,461 and $911,446 for the three
   months ended March 31, 1997 and March 31, 1996, respectively.  The minimal
   operating loss incurred during the three months ended March 31, 1997 was
   primarily due to increased sales as discussed above and a relative
   reduction of selling and marketing expenses, general and administrative
   expenses, and research and development costs.

   Selling and marketing expenses of $621,532 reported for the three months
   ended March 31, 1997 reflect a marketing plan that includes "right sized"
   media and print advertising,  targeted marketing promotions and
   professional tour player promotions.  Included in the amount reported
   above is $201,000 relative to professional tour player related  costs. 
   These costs include professional tour players' contract expenses  for
   approximately thirteen PGA, Senior PGA, and NIKE Tours Players.

   General and Administrative expenses of 320,456 reported for the three
   months ended March 31, 1997 reflects a reduction of general and
   administrative expenses from periods previously reported.  This reduction
   is primarily attributed to the reduction and transfer of Snake Eyes Driver
   production operations to the Company's Ponte Vedra Beach, Florida main
   plant in December of 1996.  This production was previously done at a 
   plant in Ann Arbor, Michigan.  These plant operations have been closed.

   No research and development costs have been reported for the three months
   ended March 31, 1997.  This is due to the fact that the Snake Eyes Driver
   has been in full production since December of 1996.  Research and
   development costs are anticipated to be incurred by the Company relative
   to its development of Snake Eyes Irons.  The  impact of these costs is
   expected to culminate with the completion of iron development expected
   during the late second quarter/ early third quarter of 1997.

   Other Income reported for the three months ended March 31, 1997 includes
   $50,000 of royalty income attributed to sales of Snake Eyes soft goods by
   Michael Thomas Ltd. d/b/a Snake Eyes Apparel Group.

   The Company's accounts receivable (net), balance of $1,511,609 as of March
   31, 1997 compared to $527,149 as of December 31, 1996, reflects the impact
   of sales during the three month period ended March 31, 1997.  Much of
   these sales were concentrated toward the later part of the period.

   Liquidity and Capital Resources

        Current marginal earnings and prior losses at March 31, 1997 cause
   concerns about the Company's liquidity and its ability to continue
   operations at current levels and expand its product lines.  During January
   1997, the Company successfully issued a private Series C 3.33% Convertible
   Preferred Stock Offering which netted proceeds of $2,900,000.  In
   addition, management projects that the Company will be profitable and will
   have positive cash flow from operations during the remainder of 1997 based
   on current sales orders and expense levels. However, it is not certain
   that the Company will be able to realize management's sales projections.

   Based on communications with current and prospective investors, the
   Company believes that it will be able to raise sufficient capital, if
   needed, which together with projected cash flow from operations, will be
   sufficient to meet the Company's working capital needs for at least the
   next two years.  However, the Company's ability to raise further capital
   is uncertain.

   Certain proceeds from the issuance of Series C Preferred Stock have been
   utilized to substantially pay down the Company's Notes Payable to related
   parties, Accounts Payable and Accrued Liabilities.

   The Company has collected, in full, amounts related to the $275,000
   Equipment for Sale recorded as a current asset in the Company's December
   31, 1996 financial statements.  The collection of these amounts occurred
   during the three month period ended March 31, 1997.
   

   PART II.  OTHER INFORMATION AND SIGNATURES


   Item 3.  Defaults Upon Senior Securities

        The Company has Series A Cumulative Preferred Stock dividends in
   arrears of $281,000 as of March 31, 1997.  To date, the Company has not
   paid dividends.  The arrearage for Series A Cumulative Preferred Stock
   dividends is $300,000 as of May 13, 1997.


   Item 6.  Exhibits and Reports on Form 8-K

   A.   Exhibits:

         3.  Statement of Resolution establishing Series C Preferred Stock
             dated January 27, 1997

        27.  Financial Data Schedule

   B.   Reports on Form 8-K:

        None.

<PAGE>
                              SIGNATURES


   Pursuant to the requirements of the Securities and Exchange Act of 1934,
   the registrant has duly caused this report to be signed on its behalf by
   the undersigned hereunto duly authorized.


                                      GOLF TECHNOLOGY HOLDING, INC.
                                   


   DATE:  May 14, 1997                By:  /s/ Harold E. Hutchins   
                                           Harold E. Hutchins
                                           Chief Operating and Financial
                                             Officer



<PAGE>
                          PART III.  INDEX TO EXHIBITS



        Exhibit 27     Financial Data Schedule