UNITED STATES

                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                AMENDMENT NO. 1

                                      TO

                                   FORM 10-Q

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

                 For the quarterly period ended: June 30, 1996

                                      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:                     000-27582

                           CELLULARVISION USA, INC.
            (Exact name of registrant as specified in its charter)

                 DELAWARE                           13-3853788
    -------------------------------    ------------------------------------
    (State or other jurisdiction of    (I.R.S. Employer Identification No.)
     incorporation or organization)

              505 PARK AVENUE
             NEW YORK, NEW YORK                        10022
    -----------------------------------------------------------------------
    (Address of principal executive offices)         (Zip Code)

                                (212) 751-0900
             (Registrant's telephone number, including area code)

                                Not Applicable
        (Former name, former address and former fiscal year, if changed
                              since last report)

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

The number of outstanding shares the registrant's common stock, par value U.S.
$.01 per share, as of, June 30, 1996 was 16,000,000.

Total number of pages in this Report including Exhibits, if any: 31






     
<PAGE>



                                          CELLULARVISION USA, INC.
                                       (A Development Stage Company)

<TABLE>
<CAPTION>
                             CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

                                                                                                        January 1, 1992
                                                   Three Months                  Six Months            (date of inception)
                                                  Ended June 30,               Ended June 30,             to June 30,
                                              1995            1996          1995            1996             1996
                                              ----           ----           ----            ----             ----

<S>                                     <C>             <C>             <C>             <C>            <C>
Revenue .............................   $    136,051    $    384,423    $    153,725    $    878,105       2,181,322
                                        ------------    ------------    ------------    ------------    ------------

Expenses:
        Service costs ...............         67,821         252,876         79, 079         539,024       1,207,718
        Selling, general and
            administrative ..........      1,216,379       2,606,437       2,273,583       4,794,617      15,613,428
        Management fees .............        674,406                       1,347,581                       4,494,941
        Depreciation and amortization        146,877         576,887         235,534       1,051,390       2,739,807
                                        ------------    ------------    ------------    ------------    ------------
                                           2,105,483       3,436,200       3,935,777       6,385,031      24,055,894
                                        ------------    ------------    ------------    ------------    ------------
         Operating loss .............     (1,969,432)     (3,051,777)     (3,782,052)     (5,506,926)    (21,874,572)
Interest income .....................        102,865         374,611         259,335         517,960       1,548,498
Interest expense ....................       (561,834)       (180,324)     (1,121,776)       (644,033)     (5,150,891)
                                        ------------    ------------    ------------    ------------    ------------
            Net loss ................   $ (2,428,401)   $ (2,857,490)   $ (4,644,493)   $ (5,632,999)    (25,476,965)

Net loss per common share ...........   $       (.20)   $       (.18)   $       (.37)   $       (.37)
                                        ------------    ------------    ------------    ------------

Weighted average number of shares of
common stock ........................     12,395,142      16,000,000      12,395,142      15,138,839
                                        ------------    ------------    ------------    ------------

</TABLE>
      The accompanying notes are an integral part of these financial statements.


                                            2








     
<PAGE>






                                   SIGNATURE

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


                                          CELLULARVISION USA, INC.



Date: October 29, 1996                     By:     /s/ Shant S. Hovnanian
                                            ----------------------------
                                                   Shant S. Hovnanian
                                                   President and
                                                   Chief Executive Officer
















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