SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 10-Q


              [X] QUARTERLY REPORT UNDER SECTION 13 or 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended September 30, 1999
                           Commission File No. 2-70197

                              OCEAN BIO-CHEM, INC.
             (Exact name of registrant as specified in its charter)

                     Florida                           59-1564329
            (State or other jurisdiction of        (I.R.S. Employer
             incorporation or organization)       Identification No.)


              4041 S. W. 47 Avenue, Fort Lauderdale, Florida 33314
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code - (954) 587-6280

     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  | |

    Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

       $.01 Par Value Common Stock 10,000,000 shares authorized;
        3,822,499 issued and outstanding at September 30, 1999












<PAGE>



                         PART I - FINANCIAL INFORMATION

Item l.  Financial Statements

                      OCEAN BIO-CHEM, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)


<TABLE>
<CAPTION>
                                     ASSETS
                                              September 30,    December 31,
                                                  1999             1998
                                              ------------     ------------
Current assets:
<S>                                            <C>             <C>
Cash                                           $  337,964      $     8,871
Trade accounts receivable, net of allowances
 for doubtful accounts of $22,600 and
 $26,000 at September 30, 1999 and December
 31, 1998, respectively                         3,213,771        2,329,712
Due from officer                                  161,100          161,100
Inventories                                     3,380,542        3,691,877
Prepaid expenses                                  107,725           85,123
                                               -----------     ------------
    Total current assets                        7,201,102        6,276,683
                                               -----------     ------------

Property, plant and equipment, net              4,526,444        4,374,991
                                               -----------     ------------

Other assets:
Funds held in escrow for equipment                297,627          583,432
Trademarks, trade names and patents, net          382,171          399,415
Due from affiliated companies, net                650,412          870,150
Deposits and other assets                         279,016          342,123
                                              ------------     ------------
    Total other assets                          1,609,226        2,195,120
                                              ------------     ------------

    Total assets                              $13,336,772      $12,846,794
                                              ============     ============

LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts payable - trade                        $ 896,081      $   932,927
Notes payable - bank                            2,581,003        3,009,118
Current portion of long-term debt                 299,667          300,000
Accrued expenses payable                          418,881           77,991
                                              ------------     ------------
    Total current liabilities                   4,196,632        4,320,036
                                              ------------     ------------

Long-term debt, less current portion            4,238,152        4,070,000
                                              ------------     ------------

Shareholders' equity:
Common stock - $.01 par value 10,000,000 shares
  authorized, 3,822,499 and 3,753,017 shares
  issued and outstanding at September 30, 1999
  and December 31, 1998, respectively              38,225           37,530
Additional paid-in capital                      3,282,932        3,232,327
Retained earnings                               1,759,943        1,332,567
Foreign currency translation adjustment       (   172,237)     (   145,666)
                                              ------------     ------------
                                                4,908,863        4,456,758
Less cost of common stock in treasury,
  5,789 shares at September 30, 1999          (     6,875)           -
                                              ------------     ------------
                                                4,901,988        4,456,758
                                              ------------     ------------

    Total liabilities & shareholders' equity  $13,336,772      $12,846,794
                                              ============     ============


</TABLE>



<PAGE>




                      OCEAN BIO-CHEM, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)



                                 For the three months      For the nine months
                                  ended September 30,      ended September 30,
                                 1999        1998          1999         1998
                                 ----        ----          ----         ----

<TABLE>
<CAPTION>
<S>                          <C>          <C>          <C>          <C>
Gross sales                  $ 4,995,382  $ 4,751,365  $12,088,582  $10,706,588
Allowances                       567,324      425,187    1,258,762      958,654
                             ------------ ------------ ------------ ------------
   Net sales                   4,428,058    4,326,178   10,829,820    9,747,934

Cost of goods sold             3,102,576    3,191,618    7,396,507    6,842,257
                             ------------ ------------ ------------ ------------

Gross profit                   1,325,482    1,134,560    3,433,313    2,905,677
                             ------------ ------------ ------------ ------------

Costs and expenses:
Advertising and promotion        140,115      193,856      392,449      514,619
Selling and administrative       712,775      664,706    2,068,695    1,949,264
Interest expense                 101,673       98,408      303,319      259,958
                             ------------ ------------ ------------ ------------
  Total costs and expenses       954,563      956,970    2,764,463    2,723,841
                             ------------ ------------ ------------ ------------

Income from operations           370,919      177,590      668,850      181,836
Interest income                    4,394        9,841       16,226       34,008
                             ------------ ------------ ------------ ------------

Income before provision
   for income taxes              375,313      187,431      685,076      215,844
Provision for income taxes       141,200       73,527      257,700       79,000
                             ------------ ------------ ------------ ------------

Net income                       234,113      113,904      427,376      136,844

Other comprehensive income,
  net of income taxes:
Foreign currency
  translation adjustment     (     4,104) (    11,588) (    26,571) (    20,032)
                             ------------------------- ------------ ------------

Comprehensive income         $   230,009  $   102,316  $   400,805  $   116,812
                             ============ ============ ============ ============

Basic earnings per
  common share               $   .06      $    .03       $    .11     $    .04
                             ============ ============   ===========  ==========



     Earnings per share for the nine and three months ended  September  30, 1999
were  calculated  on the basis of 3,794,618  weighted  average  shares of common
stock  outstanding.  For the nine and three  months  ended  September  30, 1998,
earnings per share were calculated  using 3,753,017  weighted  average shares of
common  stock  outstanding.  The  company  has adopted  Statement  of  Financial
Accounting  Standards No. 130 which requires items of comprehensive income to be
stated as part of the basic financial statements.


</TABLE>



<PAGE>



                      OCEAN BIO-CHEM, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                     FOR THE NINE MONTHS ENDED SEPTEMBER 30,


                                                     1999                1998
                                                     ----                ----

<TABLE>
<CAPTION>

Cash flows provided by operating activities:
<S>                                             <C>             <C>
Net Income                                      $   427,376     $      136,844
Adjustments to reconcile net income
  to net cash provided by operations:
Depreciation and amortization                       243,777            198,190
Changes in operating assets and liabilities:
  (Increase) in accounts receivable             (   884,059)    (      965,213)
  (Increase) decrease  in inventories               311,335     (      343,599)
  (Increase) decrease in prepaid expenses       (    22,602)           389,276
  Increase (decrease) in accounts payable,
    accrued  expenses, and other                    368,151            800,846
                                                ------------    ---------------
Net cash provided by operating activities           443,978            216,344
                                                ------------    ---------------

Cash flows from financing activities:
Net (reductions) under line of credit           (   428,115)    (      418,213)
  Repayments of advances to affiliates              219,738             52,497
  Borrowings (reductions) of debts, net             167,819     (      260,000)
  Common stock transactions                          44,425               -
                                                ------------    ---------------
Net cash provided(used)by financing activities        3,867     (      625,716)
                                                ------------    ---------------

Cash flows from investing activities:
Purchase of property, plant, and equipment, net (    92,181)    (      240,289)
                                                ------------    ---------------
Net cash used by investing activities           (    92,181)    (      240,289)
                                                ------------    ---------------

Increase (decrease) in cash prior to effect of
  foreign currency translation on cash              355,664     (      649,661
Effect of foreign currency translation on cash  (    26,571)    (       31,596)
                                                ------------    ---------------

Net increase (decrease) in cash                     329,093     (      681,257)
Cash at beginning of period                           8,871            787,411
                                                ------------    ---------------

Cash at end of period                           $   337,964     $      106,154
                                                ============    ===============

Supplemental  Information:
Cash used during the periods for payment of:
  Interest                                      $   329,093     $      259,000
                                                ============    ===============

  Income taxes                                  $    36,000     $        -
                                                ============    ===============




The company had no cash equivalents at September 30, 1999 and 1998.

</TABLE>



<PAGE>



                      OCEAN BIO-CHEM, INC. AND SUBSIDIARIES
            NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

     1. The information contained in this Report is unaudited,  but reflects all
adjustments  which are, in the opinion of the  management,  necessary for a fair
statement of results of the interim periods, consisting only of normal recurring
accruals. The results for such interim periods are not necessarily indicative of
results to be expected for the full year.


Item 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF
           FINANCIAL CONDITION AND RESULTS OF OPERATIONS


Liquidity and Capital Resources:

The primary sources of the Registrant's liquidity are its operations, short-term
borrowings  from a  commercial  bank  pursuant  to a  revolving  line of  credit
arrangement, and other borrowings.

The  total  borrowings  under  the line are  secured  by trade  receivables  and
inventories  and can aggregate a maximum amount of $5,000,000.  The line matures
in August,  2001.  Under the terms of the line,  the  Registrant  is required to
maintain minimum working capital of $1,500,000,  a debt to tangible net worth of
ratio 2 to 1 and debt service coverage of 1.1 times.

On March 25, 1999,  The  Registrant  borrowed  $400,000  from an entity owned by
certain  officers of the Company.  The obligation  requires  monthly payments of
principal and interest at prevailing rates through maturity during April,  2004,
when a final balloon payment is due.

The  Registrant  is  involved  in  making  sales  in the  Canadian  market  and,
accordingly,  is subject  to the  fluctuations  of the  Canadian  currency.  The
Registrant  does not engage in  currency  hedging  and deals with such risk as a
pricing issue.


Results of operations for the three month period July 1- September 30:

Gross sales increased approximately 5% or $244,000 for the quarter ended
September 30, 1999 when compared to the same quarter of the preceding year.
Management attributes this primarily to increased sales of new products
introduced late last year and a sales price increase on selected products
initiated during the first quarter of 1999.

Cost of goods sold decreased as a percentage of net sales when comparing
the quarter ended September 30, 1999 with the comparable quarter in 1998. The
percentages were 70.1% and 73.8% for the quarters during 1999 and 1998,
respectively. This change was due the aforementioned sales price increase,
increased absorption of manufacturing overhead at the Company's Alabama plant
and is somewhat offset by increasing raw chemical costs.

Advertising and promotion  decreased  approximately $ 53,000 comparing the three
months ended September 30, 1999 and 1998. This was primarily due to a planned
decrease in the advertising budget.

Selling and administrative expenses increased approximately $ 48,000 when
comparing the quarters ended September 30, 1999 and 1998. Such change is
attributable to increased personnel costs and anticipated incremental costs of
operations.

Interest expense which aggregated approximately $101,000 for the current quarter
was substantially unchanged when comparing the September 30, 1999 quarter to the
corresponding quarter in 1998.


<PAGE>



Results of operations for the nine month period January 1 - September 30:

Gross sales increased 13% or approximately $1,382,000 when comparing the nine
month periods of 1999 and 1998. Management attributes this primarily to
increased sales of new products introduced late last year and a sales price
increase on selected products initiated during the first quarter of 1999.

Cost of goods sold decreased to 68.3% as a percentage of net sales versus 70.2%
when comparing the nine months ended September 30, 1999 to the comparable period
in the preceding year. This change was due the aforementioned sales price
increase, increased absorption of manufacturing overhead at the Company's
Alabama plant and is somewhat offset by increasing raw chemical costs.

Advertising and promotion expenses decreased approximately $122,000 when
comparing the nine months ended September 30, 1999 to the nine months ended
September 30, 1998. This was primarily due to a planned decrease in the
advertising budget.

Selling and administrative expenses increased for the nine months ended
September 30, 1999 by approximately $119,000 or 6% when compared to the nine
months ended September 30, 1998. This was attributable to increased personnel
costs and anticipated incremental costs of operations.

Interest expense increased during the nine month period in 1999 by approximately
$43 ,000 when compared to the nine month period of 1998 reflecting the higher
levels of borrowings during the earlier periods of 1999.

































<PAGE>



                           PART II - OTHER INFORMATION



Item 1 - Legal Proceedings:  See the Registrant's 10K for the year ended
                             December 31, 1998

Item 2 - Changes in Securities:  Not Applicable

Item 3 - Defaults Upon Senior Securities:  Not Applicable

Item 4 - Submission of Matters to Vote of Security Holders:  Not Applicable

Item 5 - Other Information:  Not Applicable

Item 6 - Exhibits and Reports on Form 8-K

         (A)  Exhibits:  Not Applicable

         (B)  Reports on Form 8-K:  Not Applicable


                                                 SIGNATURES

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

         OCEAN BIO-CHEM, INC.


   Date:    November 7, 1999                 /s/ Peter Dornau
                                             -----------------------------------
                                             Peter G. Dornau
                                             Chairman of the Board of Directors
                                               and Chief Executive Officer



   Date:    November 7, 1999                /s/ Edward Anchel
                                            ------------------------------------
                                              Edward Anchel
                                              Chief Financial Officer