U. S. 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 June 30, 1999
                           Commission File No. 2-70197



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



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


       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 shares issued and outstanding at June 30, 1999.













<PAGE>



                        PART I - Financial Information

 Item l.  Financial Statements

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

<TABLE>
<CAPTION>

                                     ASSETS
                                                    JUNE 30,         DEC. 31,
                                                     1999             1998
                                                     ----             ----
Current assets:
<S>                                              <C>              <C>
Cash                                             $    256,970     $      8,871
Trade accounts receivable net of allowances for
  doubtful accounts of approximately $13,500
  and  $26,000 at June 30, 1999 and December
  31, 1998, respectively                            2,090,473        2,329,712
Due from officer                                      161,100          161,100
Inventories                                         3,720,125        3,691,877
Prepaid expenses                                      111,680           85,123
                                                 ------------     ------------
    Total current assets                            6,340,348        6,276,683
                                                 ------------     ------------

Property, plant and equipment, net                  4,425,465        4,374,991
                                                 ------------     ------------

Other assets:
Funds held in escrow for equipment                    413,913          583,432
Trademarks, trade names and patents, net              387,919          399,415
Deposits and other assets                             304,324          342,123
Due from affiliated companies, net                    573,297          870,150
                                                 ------------     ------------
    Total other assets                              1,679,453        2,195,120
                                                 ------------     ------------

    Total assets                                 $ 12,445,266     $ 12,846,794
                                                 ============     ============

           Liabilities and shareholders' equity

Current liabilities:
Accounts payable - trade                         $    775,885     $    932,927
Note payable - bank                                 2,156,696        3,009,118
Current portion of long-term debt                     299,564          300,000
Accrued expenses payable                              226,785           77,991
                                                 ------------     ------------
     Total current liabilities                      3,458,930        4,320,036
                                                 ------------     ------------

Long-term debt, less current portion                4,314,358        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 June 30, 1999 and
  December 31, 1998, respectively                      38,225           37,530
Additional paid-in capital                          3,282,932        3,232,327
Retained earnings                                   1,525,829        1,332,567
Foreign currency translation adjustment          (    168,133)    (    145,666)
                                                 ------------     ------------
                                                    4,678,853        4,456,758
Less cost of common stock in treasury,
  5,789 shares at June 30, 1999                  (      6,875)               0
                                                 ------------     ------------
                                                    4,671,978        4,456,758
                                                 ------------     ------------
     Total liabilities & shareholders' equity    $ 12,445,266     $ 12,846,794
                                                 ============     ============

</TABLE>

<PAGE>




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



                                FOR THE THREE MONTHS       FOR THE SIX MONTHS
                                   ENDED JUNE 30,             ENDED JUNE 30,
                                 1999       1998           1999          1998
                                 ----       ----           ----        ----

<TABLE>
<CAPTION>
<S>                           <C>         <C>           <C>         <C>
Gross sales                   $3,674,386  $3,167,782    $7,093,200  $5,955,223
Allowances                       312,316     273,508       691,438     533,467
                              ----------  ----------    ----------  ----------

Net sales                      3,362,070   2,894,274     6,401,762   5,421,756
Cost of goods sold             2,186,708   1,830,335     4,293,931   3,650,639
                              ----------  ----------    ----------  ----------

Gross profit                   1,175,362   1,063,939     2,107,831   1,771,117
                              ----------  ----------    ----------  ----------

Cost and expenses:
Advertising and promotion        154,094     249,963       252,334     320,763
Selling and administrative       718,064     716,931     1,355,921   1,284,558
Interest expense                 103,012     102,268       201,646     161,550
                              ----------  ----------    ----------  ----------
    Total cost and expenses      975,170   1,069,162     1,809,901   1,766,871
                              ----------  ----------    ----------  ----------

Income (loss)  from
  operations                     200,192       5,223       297,930       4,246
Interest income                    5,672       8,485        11,832      24,167
                              ----------  ----------    ----------  ----------

Income before income taxes       205,864       3,262       309,762      28,413
Provision for income taxes        77,500         307       116,500       5,473
                              ----------  ----------    ----------  ----------

Net income                       128,364       2,955       193,262      22,940

Other comprehensive income,
  net of income taxes:
Foreign currency translation
  adjustment                  (    9,723)  (   5,183  ) (   22,467) (    8,444)
                              ----------  ----------    ----------  ----------
Comprehensive income (loss)   $  118,641  $(   2,228  ) $  170,795  $   14,496
                              ==========  ==========    ==========  ==========

Basic earnings per
  Common share                $   .03     $   .00        $ .05      $  .01
                              ==========  ==========    ==========  ==========

Earnings  per share were  calculated  on the basis of  3,780,678  and  3,753,017
weighted average shares of common stock outstanding for the six months and three
months  ended June 30,  1999 and 1998,  respectively.  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. The
only items of  comprehensive  income that the registrant  which are reflected in
the  accompanying   financial   statements  are  foreign  currency   translation
adjustments.


</TABLE>

<PAGE>







                              OCEAN BIO-CHEM, INC.
                                AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                        FOR THE SIX MONTHS ENDED JUNE 30,
                                   (Unaudited)
                                                        1999             1998
                                                        ----             ----
<TABLE>
<CAPTION>


Cash flow provided by operating activities:
<S>                                             <C>              <C>
Net income                                      $     193,262    $     22,940

Adjustments to reconcile net income
 to net cash provided by operations:
Depreciation and amortization                          159,496         136,416
Changes in assets and liabilities:
  Decrease in accounts receivable                      239,239          54,513
   (Increase) in inventory                       (      28,248)      ( 141,463)
   (Increase) decrease in prepaid expenses       (      26,557)        339,886
  Increase (decrease) in accounts payable,
    accrued expenses and other                          29,551    (     10,081)
                                                 -------------    ------------

      Net cash provided by operating activities        566,743         402,211
                                                 -------------    ------------

Cash flows from financing activities:
  Net reductions under line of credit            (     852,422)   (    630,213)
  Reduction in advances from affiliates                296,853          27,716
  Borrowings (payments) on debts, net                  243,922    (    235,963)
  Common stock transactions                             44,425            0
                                                 -------------    ------------

      Net cash (used) by financing activities    (     267,222)   (    838,460)
                                                 -------------    ------------

Cash flows from investing activities:
   Purchases of property, plant, equipment, net
      of funds held in escrow                    (      28,955)   (    198,064)
                                                 -------------    ------------

     Net cash (used) by investing activities     (      28,955)   (    198,064)
                                                 -------------    ------------

  Increase (decrease) in cash prior to effect of
     foreign currency translation adjustments          270,566    (    634,313)
  Effect of foreign currency translation
    adjustments on cash                          (      22,467)   (     10,459)
                                                 -------------    ------------

     Net increase (decrease) in cash                   248,099    (    644,772)

 Cash at beginning of period                             8,871         787,411
                                                 -------------     -----------

 Cash at end of period                           $     256,970     $   142,639
                                                 =============     ===========


Supplemental information:
Cash used for payment of interest during period  $     193,534     $   206,817
                                                 -------------    ------------
Cash used for payment of income taxes during
  period                                         $      16,000    $      0
                                                 -------------    ------------

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


</TABLE>

<PAGE>




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


l. 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 April 1- June 30:

Gross sales increased  approximately  16% or $506,600 for the quarter ended June
30, 1999 when  compared to the same quarter of the  preceding  year.  Management
attributes  this primarily to increased  sales of new products  introduced  last
year and a sales price increase on selected products.

Cost of goods sold  increased as a percentage of gross sales when  comparing the
quarter ended June 30, 1999 with the comparable quarter in 1998. The percentages
were 59.5 % and 57.8% for the quarters ended 1999 and 1998,  respectively.  This
change was  primarily  due to increasing  raw chemical  costs and  manufacturing
overhead at the Company's Alabama plant.

Selling and administrative  expenses aggregated  approximately $718,000 which is
substantially identical to the prior year when comparing the quarters ended June
30, 1999 and June 30, 1998.

Advertising and promotion  decreased  approximately  $95,900 comparing the three
months  ended  June 30,  1999 and  1998.  This was  primarily  due to a  planned
decrease in the advertising budget.



<PAGE>



Interest expense which aggregated approximately $103,000 for the current quarter
was  substantially  unchanged  when  comparing  the June 30, 1999 quarter to the
corresponding quarter in 1998.


Results of Operations For the Six Month Period January 1 - June 30:

Gross Sales  increased 19% or  approximately  $1,138,000  when comparing the six
month  periods  of 1999  and  1998.  Management  attributes  this  primarily  to
increased sales of new products  introduced last year and a sales price increase
on selected products.

Cost of Goods Sold  decreased  to 60.5% as a  percentage  of gross sales  versus
61.3% when comparing the six months ended June 30, 1999 to the comparable period
in the preceding year.
This change is not viewed as significant.

Advertising and promotion expenses  decreased  approximately 21% or $68,400 when
comparing  the six months  ended June 30, 1999 to the six months  ended June 30,
1998. This was primarily due to a planned decrease in the advertising budget.

Selling and administrative  expenses increased for the six months ended June 30,
1999 by  approximately  $71,400 or 5.5 % when  compared to the six months  ended
June  30,  1998.  This  was not due to any one  factor  other  than  anticipated
increased administrative expenses.

Interest expense  increased during the six month period in 1999 by approximately
$40,100  when  compared to the six month  period of 1998  reflecting  the higher
levels of borrowings in the first quarter of 1999.





<PAGE>



                           PART II: OTHER INFORMATION


Item l -   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:
           On June 11, 1999, at the  Registrant's  annual meeting,  shareholders
           elected five directors;  Peter Dornau, Jeffrey Tieger, Edward Anchel,
           Laz Schneider,  and James Kolisch.  1,346,434 voted for all directors
           and 4,522 voted against.  Shareholders also approved Infante,  Lago &
           Co., Certified Public Accountants, by a vote of 3,559,010 for and 231
           shares against, as the Registrant's auditors for 1999.

Item 5 -    Other Matters:  Not applicable

Item 6 -    Exhibits:  Not applicable

        (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 its  behalf by the
undersigned thereunto duly authorized.

                              OCEAN BIO-CHEM, INC.

Date: August 9, 1999                                 /s/ Peter Dornau
                                                    -----------------
                                                    Peter G. Dornau
                                                    Chairman of the Board and
                                                    Chief Executive Officer


                                                    /s/Edward Anchel
                                                    -----------------
                                                    Edward Anchel
                                                    Chief Financial Officer