SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    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 November 30, 1997

                                       OR

       Transition Report Pursuant to Section 13 or 15(d) of the Securities
       Exchange Act of 1934 from the transition period from ____ to _____

                          Commission File Number 0-9987


                            GLOBUS GROWTH GROUP, INC.
             (Exact name of registrant as specified in its charter)



           New York                                            13-2949462
   (State or other jurisdiction of                         (I.R.S. Employer
   incorporation or organization)                          Identification No.)


   44 West 24th Street, New York, NY                           10010
   (Address of principal executive offices)                  (zip code)

                                 (212) 243-1000
              (Registrant's telephone number, including area code)


     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 ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

     Indicate  by check mark  whether the  registrant  (1) has filed all reports
required to be filed by Section 12, 13 or 15(d) of the  Securities  Exchange Act
of 1934 subsequent to the distribution of securities under a plan confirmed by a
court.  Yes ___  No___



                      APPLICABLE ONLY TO CORPORATE ISSUERS:

     Indicate the number of shares  outstanding of each of the issuer's  classes
of common stock, as the latest  practicable date:  2,499,000  (including 149,443
held in treasury)


<PAGE>


PART I - FINANCIAL INFORMATION
Item 1.  Financial Statements

GLOBUS GROWTH GROUP, INC.

CONDENSED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                 November 30,  February 28,
                                                                    1997           1997
                                                                -----------    -----------
ASSETS                                                           (Unaudited)   (See Note 1)
<S>                                                              <C>            <C>       
Cash                                                               $949,000       $512,000
Investments in Securities (Note 3)                               $2,244,000     $2,737,000
Promissory Note Receivable                                          $50,000        $50,000
Other Assets                                                        $17,000        $19,000
                                                                -----------    -----------
TOTAL                                                            $3,260,000     $3,318,000
                                                                -----------    -----------


LIABILITIES AND STOCKHOLDERS'  EQUITY

Liabilities
  Accounts payable and accrued expenses                            $966,000       $910,000
  Loans payable to officers/shareholders                           $439,000       $528,000
  Demand loan payable to related party                             $417,000       $405,000
                                                                -----------    -----------
Total Liabilities                                                $1,822,000     $1,843,000
                                                                -----------    -----------


Stockholders' equity (Note 2)
Preferred stock - $.10 par value, Authorized - 450,000 shares
     None Issued
Series B convertible preferred stock - $.10 par value
     Authorized  - 50,000 shares, None issued
Common stock - $.01 par value, Authorized - 4,500,000
     shares, Issued 2,499,000 shares at 11/30/97                    $25,000        $25,000
Additional paid in capital                                       $2,747,000     $2,747,000
Treasury Stock, 149,443 shares at 11/30/97                         ($40,000)      ($37,000)
Accumulated earnings (deficit)                                  ($1,294,000)   ($1,260,000)
                                                                -----------    -----------
Total stockholders' equity                                       $1,438,000     $1,475,000
                                                                -----------    -----------
TOTAL                                                            $3,260,000     $3,318,000
                                                                -----------    -----------
</TABLE>




(See Accompanying Notes to Financial Statements)




<PAGE>

GLOBUS GROWTH GROUP, INC.

STATEMENT OF OPERATIONS
        (Unaudited)
<TABLE>
<CAPTION>
                                                   Three Months                  Nine Months
                                                 Ended November 30,           Ended November 30,
                                                 1997         1996           1997           1996
                                             -----------   -----------    -----------    -----------
<S>                                            <C>           <C>            <C>            <C>      
Gain (loss) on investments:
   Realized                                     $100,000            $0        $94,000             $0
   Unrealized                                     $1,000     ($299,000)        $1,000        ($3,000)
                                             -----------   -----------    -----------    -----------
Total                                           $101,000     ($299,000)       $95,000        ($3,000)
Dividend Income                                   $2,000       $10,000        $10,000        $33,000
Interest Income                                   $1,000            $0         $6,000             $0
Consulting and other income                       $9,000        $9,000        $27,000        $27,000
                                             -----------   -----------    -----------    -----------
TOTAL                                           $113,000     ($280,000)      $138,000        $57,000

Expenses:
   General and administrative                    $54,000       $47,000       $150,000       $164,000
   Interest                                       $7,000        $8,000        $22,000        $27,000
                                             -----------   -----------    -----------    -----------
TOTAL                                            $61,000       $55,000       $172,000       $191,000

Income (loss) from operations before taxes       $52,000     ($335,000)      ($34,000)     ($134,000)
Benefit/(Provision) for taxes                         $0            $0             $0             $0
                                             -----------   -----------    -----------    -----------
Net earnings (loss)                              $52,000     ($335,000)      ($34,000)     ($134,000)
                                             -----------   -----------    -----------    -----------


Net (Loss) per share of common stock               $0.02        ($0.14)        ($0.01)        ($0.06)
Weighted Average Number of shares of
    Stock Outstanding                          2,354,602     2,364,860      2,361,466      2,364,998
                                             -----------   -----------    -----------    -----------
</TABLE>

(See Accompanying Notes to Financial Statements)

<PAGE>
GLOBUS GROWTH GROUP, INC.

STATEMENT OF CASH FLOWS
          (Unaudited)
<TABLE>
<CAPTION>
                                                                                             Nine Months
                                                                                          Ended November 30,
                                                                                         1997           1996
                                                                                      -----------    -----------
<S>                                                                                    <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
       Net Income (loss)                                                                 ($34,000)     ($134,000)
       Adjustments to reconcile net income (loss) to net cash provided by (used in)
            operating activities:
            Depreciation and amortization                                                  $2,000         $1,000
            Realized (gain) loss on investments                                          ($94,000)            $0
            Unrealized (gain) loss on investments                                         ($1,000)        $3,000
            Increase in accounts payable, accrued expenses and accrued interest
                on loans                                                                  $77,000        $92,000
            (Increase) decrease in prepaid assets                                          $2,000         $5,000
                                                                                      -----------    -----------

            Net cash (used in) operating activities                                      ($48,000)      ($33,000)
            ----------------------------------------------------------------------------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
       Purchase of investments                                                          ($500,000)     ($180,000)
       Purchase of property and equipment                                                      $0             $0
       Proceeds from sale of investments                                               $1,088,000             $0
                                                                                      -----------    -----------

            Net cash provided by (used in ) investing activities                         $588,000      ($180,000)
            ----------------------------------------------------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
       Repayment of loans payable to officers/shareholders                              ($106,000)      ($80,000)
       Increase (decrease) in loans payable to officers/shareholders                       $7,000       ($39,000)
       Purchase of treasury stock                                                         ($4,000)            $0
                                                                                      -----------    -----------

            Net cash provided by (used in) financing activities                         ($103,000)     ($119,000)
            ----------------------------------------------------------------------------------------------------

Net increase (decrease) in cash                                                          $437,000      ($332,000)

Cash - beginning of period                                                               $512,000       $985,000

Cash - end of period                                                                     $949,000       $653,000

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
       Cash paid during the year for:
            Interest                                                                           $0             $0
            Income Taxes                                                                   $3,000        $12,000
</TABLE>

(See Accompanying Notes to Financial Statements)


<PAGE>


GLOBUS GROWTH GROUP, INC.                                      November 30, 1997
                           
                    Notes to Condensed Financial Statements
                                   (Unaudited)

        Note 1 -     Basis of Condensed Information

                     In the opinion of the Company,  the accompanying  unaudited
                     condensed  financial  statements  contain all  adjustments,
                     consisting of only normal recurring accruals,  necessary to
                     present  fairly the  financial  position as of November 30,
                     1997,  the  results  of  operations  for the three and nine
                     months ended  November 30, 1997 and 1996,  and statement of
                     cash flows for the nine months ended  November 30, 1997 and
                     1996.

                     The  results  of  operations  for  the  nine  months  ended
                     November  30, 1997 are not  necessarily  indicative  of the
                     results to be expected for the full year.

                     Certain information and note disclosures  normally included
                     in  financial   statements   prepared  in  accordance  with
                     generally   accepted   accounting   principles   have  been
                     condensed or omitted.  These condensed financial statements
                     should be read in conjunction with the financial statements
                     and notes thereto  included in the Company's  annual report
                     filed on Form 10-K, as amended, for the year ended February
                     28, 1997.

                     The  balance  sheet at February  28, 1997 has been  derived
                     from the Company's  audited  balance sheet  included in its
                     Annual Report on Form 10-K, as amended.




        Note 2 -     Earnings Per Share

                     Per share data are based on the weighted  average number of
                     common  shares  outstanding   during  the  period.   Common
                     equivalent   shares   (options  and   warrants)   would  be
                     anti-dilutive   and  are   therefore   excluded   from  the
                     calculations.




        Note 3 -     Investments

                     As of February 28, 1997 and November 30, 1997,  investments
                     are carried at fair value,  which,  for readily  marketable
                     securities, represents the last reported sales price or bid
                     price on the  valuation  date.  Investments  in  restricted
                     securities and securities which are not readily  marketable
                     are  carried at fair value as  determined  in good faith by
                     the Board of  Directors,  in the exercise of its  judgment,
                     after  taking into  consideration  various  indications  of
                     value available to the Board.

                     (Continued on next page)

<PAGE>


Note 3 - (Continued)

<TABLE>
<CAPTION>
                                               November 30,                           February 28,
                                                 1997                                     1997
                                                 ----                                     ----

                                        No.                                   No.
                                      Shares     Value         Cost         Shares        Value         Cost
                                      ------     -----         ----         ------        -----         ----
Common Stock
<S>                                 <C>        <C>           <C>            <C>        <C>            <C>     
Catamount Brewing Co.                 23,215     $569,000      $176,000      23,215      $569,000       $176,000
Interface Systems Inc.                   775       $2,000        $7,000         775        $4,000         $7,000
Nematron Corp.*                                                              16,925      $110,000        $30,000
Energy Research Corp.**                                                      76,000      $883,000        $88,000
Kimeragen, Inc. Cl A                 108,827     $609,000      $219,000     108,827      $609,000       $219,000
Kimeragen, Inc. Cl B                  35,000     $196,000       $75,000      35,000      $196,000        $75,000
Repligen Corporation                 100,468      $88,000      $190,000     100,468       $86,000       $190,000
                                              -----------   -----------                ----------    -----------
Total Common Stock                             $1,464,000      $667,000                $2,457,000       $785,000
                                              -----------   -----------                ----------    -----------

Preferred Stock
Catamount Brewing Co. - Pfd            4,286     $150,000      $150,000       4,286      $150,000       $150,000
Genitope Corp. Series A Pfd          420,858     $210,000      $210,000     260,000      $130,000       $130,000
                                                                                       ----------    -----------
Genitope Corp. Series B Pfd          332,992     $420,000      $420,000
                                              -----------   -----------
Total Preferred Stock                            $780,000      $780,000                  $280,000       $280,000
                                              -----------   -----------                ----------    -----------


Promissory Note
Woodstock Communications Inc.                     $50,000       $50,000                   $50,000        $50,000
                                              -----------   -----------                ----------    -----------

Total Investments - Fair  value                $2,294,000    $1,497,000                $2,787,000     $1,115,000
                                              -----------   -----------                ----------    -----------
</TABLE>


-----------

*16,925 shares sold in June 1997 for $102,919 net.

**2,000 shares sold March 1997 for $24,648 net; and 74,000 shares sold September
1997 for $960,116 net.


<PAGE>

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

Analysis of Results of Operations

     Prior to fiscal 1987, the Company was engaged in the camera and photography
business.  On February 28, 1986,  the Company sold its operating  business to an
affiliated company and since that date the Company's principal activity has been
the making of investments in other companies.

     At November 30, 1997,  the Company had total assets of $3,260,000  compared
to total assets of $3,318,000 as at February 28, 1997.  Included in total assets
at such dates were investments and notes of $2,294,000 for the nine month period
ended  November 30, 1997 and  $2,787,000  for the year ended  February 28, 1997.
Shareholders equity at such dates was $1,438,000 for the nine month period ended
November 30, 1997 and $1,475,000  for the year ended February 28, 1997.  Gain on
investments  amounted to $95,000 for the nine month  period  ended  November 30,
1997 as compared to a loss of ($3,000) for the nine month period ended  November
30, 1996.  Included in such gains  (losses)  were  realized  gain of $94,000 and
unrealized  gain of $1,000 for the nine month  period  ended  November  30, 1997
compared  to ($3,000) of  unrealized  loss and no realized  gain or loss for the
nine month  period  ended  November  30,  1996.  Operating  expenses,  including
interest  charges,  amounted  to  $172,000  for the 1997 nine  month  period and
$191,000 for the 1996 nine month period.  Loss from operations,  both before and
after  provision  for  taxes,  was  ($34,000)  for the nine month  period  ended
November  30,  1997  compared  to  ($134,000)  for the nine month  period  ended
November 30, 1996. Net loss per share was ($0.01) for the 1997 nine month period
compared to ($0.06) for the comparable 1996 period.  The weighted average number
of shares of Common Stock  outstanding  at November 30, 1997 was  2,361,466  and
2,364,998 at November 30, 1996.



Analysis of Financial Condition

     The  Company's  cash  position as at November 30, 1997 (i.e.,  $949,000) is
offsetable  by the  indebtedness  that is owing to members of the Globus  family
described  below.  The near term  liquidity of the Company,  as well as its near
term capital resources position,  are presently  principally  dependent upon the
continued willingness,  as to which there can be no assurance whatsoever, of the
members of the Globus  family who have made loans to the  Company  not to demand
full or substantially full repayment of such loans and to continue to make loans
to the Company,  if necessary.  Thus,  loans  payable by the Company  (including
accrued  interest)  to Messrs.  Stephen E. and  Richard D.  Globus  amounted  to
$439,000 at November 30,  1997, a decrease of $89,000 from  $528,000 at February
28, 1997. This decrease was due in part to a $106,000  (total) loan repayment to
Stephen  E.  and  Richard  D.  Globus.  A  $50,000  charge  was  made to the two
officers/shareholders loans for general and administrative costs and use by them
of the Company's  office and  personnel for the nine month period  (reference is
made to Note H of Form 10K, as amended,  for the year ended  February 28, 1997);
which  decrease  was  somewhat  offset by an increase in loans of  approximately
$57,000 and an increase in accrued  interest  of  approximately  $10,000.  As at
November 30, 1997, loans payable to another member of the Globus family, to wit:
Ms. Jane Globus  (the mother of Stephen E. and Richard D.  Globus),  amounted to
approximately  $417,000,  including accrued  interest.  As at November 30, 1997,
unpaid  salaries  owing to Messrs.  Stephen E. and Richard D. Globus  aggregated
$935,000;  so that at such date the total of monies  owed to Messrs.  Stephen E.
Globus,  Richard  D.  Globus  and  Ms.  Jane  Globus  aggregated   approximately
$1,791,000.


<PAGE>

     There  are in  fact  presently  no  known  events  that  can be  considered
reasonably  certain to occur which would materially  change favorably either the
short term or long term  liquidity  (i.e.,  ability of the  Company to  generate
adequate  amounts  of cash to meet its  needs  for  cash) or  capital  resources
position (i.e.,  source of funds) of the Company from that in which it presently
finds itself,  and, absent  continuation of the presently existing loans without
call for payment,  or  additional  loans,  from the Globus  family,  the present
liquidity and capital resources  position of the Company  necessarily  adversely
affects  the  financial  condition  of the  Company  and its ability to make new
investments.  In such connection it must be noted that: the  profitability  of a
BDC, like the Company, is largely dependent upon its ability to make investments
and upon increases in the value of its investments; and a BDC is also subject to
a number of risks which are not generally present in an operating  company,  and
which are discussed generally in Item 1 of the Company's 10K Report, as amended,
for its fiscal year ended  February  28, 1997 to which Item  reference is hereby
made.  Reference  is also  hereby made to Item 1 and Item 7 of such  Report,  as
amended,  and to the Financial  Statements  and notes thereto  contained in such
Report, as amended, for information concerning the Company's investments and its
financial condition.





Item 3. Quantitative and Qualitative Disclosures About Market Risk

     Not Applicable.






PART II - Other Information

Item 6. Exhibits and Reports on Form 8-K

     (a) Exhibit 27 - Financial Data Schedule

     (b) Reports on Form 8-K

     No reports on Form 8-K have been filed  during the  quarter  for which this
Report is filed.





<PAGE>

                                   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.

Date: January 15, 1998


GLOBUS GROWTH GROUP, INC.
                                                                    (Registrant)


                                                            s/ Stephen E. Globus
                                                   -----------------------------
                                                               STEPHEN E. GLOBUS
                                                          Chairman of the Board,
                                                   (Principal Executive Officer)



                                                            s/ Richard D. Globus
                                                   -----------------------------
                                                               RICHARD D. GLOBUS
                                                             President, Director