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, 1996

                                       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 134,140
held in treasury)


<PAGE>


PART I - FINANCIAL INFORMATION
Item 1.  Financial Statements

GLOBUS GROWTH GROUP, INC.

CONDENSED BALANCE SHEETS

<TABLE>
<CAPTION>

                                                                     November 30,       February 29,
                                                                       1996                 1996
                                                                    ------------        ------------

ASSETS                                                              (Unaudited)         (See Note 1)

<S>                                                                    <C>                 <C>     
Cash                                                                   $  653,000          $  985,000
Investments in Securities (Note 3)                                     $1,868,000          $1,690,000
Other Assets                                                           $    9,000          $   16,000
                                                                       ----------          ----------
TOTAL                                                                  $2,530,000          $2,691,000
                                                                       ==========          ==========




LIABILITIES AND STOCKHOLDERS'  EQUITY

Liabilities
  Accounts payable and accrued expenses                                $  873,000          $  808,000
  Loans payable to officers/shareholders                               $  557,000          $  660,000
  Demand loan payable to related party                                 $  406,000          $  394,000
                                                                       ----------          ----------
Total Liabilities                                                      $1,836,000          $1,862,000
                                                                       ----------          ----------


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 11/30/96                       $    25,000         $    25,000
Additional paid in capital                                             $ 2,747,000         $ 2,747,000
Treasury Stock, 134,140 shares at 11/30/96                             ($   37,000)        ($   36,000)
Accumulated earnings (deficit)                                         ($2,041,000)        ($1,907,000)
                                                                       -----------         -----------
Total stockholders' equity                                             $   694,000         $   829,000
                                                                       -----------         -----------
TOTAL                                                                  $ 2,530,000         $ 2,691,000
                                                                       ===========         ===========

</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,
                                                         1996            1995           1996           1995
                                                      ------------   -------------  -------------   ------------
<S>                                                     <C>             <C>            <C>            <C>      
Gain (loss) on investments:
Realized                                                $       0       $  47,000      $       0      $  14,000
Unrealized                                              ($299,000)      ($ 12,000)     ($  3,000)     $  74,000
                                                        ---------       ---------      ---------      ---------
Total                                                   ($299,000)      $  35,000      ($  3,000)     $  88,000
Dividend Income                                         $  10,000       $       0      $  33,000      $   1,000
Interest Income                                         $       0       $       0      $       0      $       0
Consulting and other income                             $   9,000       $  23,000      $  27,000      $  28,000
                                                        ---------       ---------      ---------      ---------
TOTAL                                                   ($280,000)      $  58,000      $  57,000      $ 117,000

Expenses:
   General and administrative                           $  47,000       $  39,000      $ 164,000      $ 138,000
   Interest                                             $   8,000       $  13,000      $  27,000      $  40,000
                                                        ---------       ---------      ---------      ---------
TOTAL                                                   $  55,000       $  52,000      $ 191,000      $ 178,000

Income (loss) from operations before taxes              ($335,000)      $   6,000      ($134,000)     ($ 61,000)
Benefit/(Provision) for taxes                           $       0       $       0      $       0      $       0
                                                        ---------       ---------      ---------      ---------
Net earnings (loss)                                     ($335,000)      $   6,000      ($134,000)     ($ 61,000)
                                                        ---------       ---------      ---------      ---------


Net (Loss) per share of common stock                    ($   0.14)      $    0.00      ($   0.06)     ($   0.03)
Weighted Average Number of shares of
    Stock Outstanding                                   2,364,860       2,377,310      2,364,998      2,381,250
                                                        ---------       ---------      ---------      ---------
</TABLE>

(See Accompanying Notes to Financial Statements)



<PAGE>

GLOBUS GROWTH GROUP, INC.

STATEMENT OF CASH FLOWS
(Unaudited)
<TABLE>
<CAPTION>

                                                                                                   Nine Months
                                                                                                Ended November 30,
                                                                                             1996              1995
                                                                                         -----------        -----------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                                        <C>                <C>      
Net Income (loss)                                                                          ($134,000)        ($ 61,000)
Adjustments to reconcile net income (loss) to net cash provided by (used in)
            operating activities:
            Depreciation and amortization                                                  $   1,000         $   2,000
            Realized (gain) loss on investments                                            $       0         ($ 14,000)
            Unrealized (gain) loss on investments                                          $   3,000         ($ 74,000)
            Increase in accounts payable, accrued expenses and accrued interest
                on loans                                                                   $  92,000         $  99,000
            (Increase) decrease in prepaid assets                                          $   5,000         ($  2,000)
                                                                                           ---------         ---------

            Net cash (used in ) operating activities                                       ($ 33,000)        ($ 50,000)
            ========================================================================================================================

CASH FLOWS FROM INVESTING ACTIVITIES:
       Purchase of investments                                                             ($180,000)        ($185,000)
       Purchase of property and equipment                                                  $       0         $       0
       Proceeds from sale of investments                                                   $       0         $ 141,000
                                                                                           ---------         ---------

            Net cash provided by (used in ) investing activities                           ($180,000)        ($ 44,000)
            ========================================================================================================================

CASH FLOWS FROM FINANCING ACTIVITIES:
       Repayment of loans payable to officers/shareholders                                 ($ 80,000)        ($ 70,000)
       Increase (decrease) in loans payable to officers/shareholders                       ($ 39,000)        ($ 23,000)
       Borrowing from broker                                                               $       0         $ 150,000
       Repayment to broker                                                                 $       0         ($ 28,000)
       Payment from broker                                                                 $       0         $  62,000
       Purchase of treasury stock                                                          $       0         ($  1,000)
                                                                                           ---------         ---------

            Net cash provided by (used in) financing activities                            ($119,000)        $  90,000
            ========================================================================================================================

Net increase (decrease) in cash                                                            ($332,000)        ($  4,000)

Cash - beginning of period                                                                 $ 985,000         $   6,000

Cash - end of period                                                                       $ 653,000         $   2,000

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
       Cash paid during the year for:
            Interest                                                                       $       0         $       0
            Income Taxes                                                                   $  12,000         $   1,000
</TABLE>

(See Accompanying Notes to Financial Statements)

<PAGE>


GLOBUS GROWTH GROUP, INC.            Notes to Condensed  Financial Statements 
                                                (Unaudited)
                                                               November 30, 1996

                     


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, 1996,  the results of operations  for the nine months ended
     November 30, 1996 and 1995, and statement of cash flows for the nine months
     ended November 30, 1996 and 1995.

     The results of operations  for the nine months ended  November 30, 1996 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
     for the year ended February 29, 1996.

     The balance  sheet at February 29, 1996 has been derived from the Company's
     audited balance sheet included in its Annual Report on Form 10-K.




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 29, 1996 and November 30, 1996,  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 29,
                                                                 1996                                   1996
                                                             -----------                             ------------

                                                            No.                                 No.
                                                        Shares    Value         Cost             Shares       Value          Cost
                                                        ------    -----         ----             ------       -----          ----
<S>                                                    <C>        <C>           <C>              <C>        <C>           <C>     
Common Stock
------------
Catamount Brewing Co.                                   23,215    $  176,000    $  176,000        23,215    $  176,000    $  176,000
Interface Systems Inc.                                     775    $    4,000    $    7,000           775    $   12,000    $    7,000
Nematron Corp.                                          16,925    $  123,000    $   30,000        16,925    $  127,000    $   30,000
Energy Research, Inc.                                   81,000    $  901,000    $   94,000        81,000    $  891,000    $   94,000
Kimeragen, Inc.                                                                                      414    $   70,000    $   70,000
Kimeragen, Inc. Cl A                                    53,827    $   70,000    $   70,000
Kimeragen, Inc. Cl A                                    55,000    $  149,000    $  149,000        55,000    $  149,000    $  149,000
                                                                                                            ----------    ----------
Kimeragen, Inc. Cl B                                    35,000    $   75,000    $   75,000
                                                                  ----------    ----------
Total Common Stock                                                $1,498,000    $  601,000                  $1,425,000    $  526,000

Preferred Stock
---------------
Kimeragen, Inc. Preferred                                                                            113    $   75,000    $   75,000
Proscure, Inc. Series A Conv. Pfd.                      61,000    $   86,000    $   86,000        61,000    $   86,000    $   86,000
Proscure, Inc. Series B Conv. Pfd.                      53,334    $   80,000    $   80,000        53,334    $   80,000    $   80,000
                                                                                                            ----------    ----------
Genitope Corp. Series A Pfd                            260,000    $  130,000    $  130,000
                                                                  ----------    ----------
Total Preferred Stock                                             $  296,000    $  296,000                  $  241,000    $  241,000

Stock Purchase Warrant
----------------------
Glycan Pharmaceuticals, Inc.                            37,500    $   17,000    $   17,000        37,500    $   17,000    $   17,000
Proscure Inc.                                           75,000    $    7,000    $    7,000        75,000    $    7,000    $    7,000
                                                                  ----------    ----------                  ----------    ----------
Total Warrants                                                    $   24,000    $   24,000                  $   24,000    $   24,000

Other
-----
Woodstock Communications Inc.                                    $   50,000     $   50,000
                                                                 -----------    ----------

Total Investments - Fair  value                                  $1,868,000    $  971,000                   $1,690,000    $  791,000
                                                                 ----------    ----------                   ----------    ----------

</TABLE>


<PAGE>


                     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, 1996,  the Company had total assets of $2,530,000  compared
to total assets of $2,691,000 as at February 29, 1996.  Included in total assets
at such dates were  investments  in securities of $1,868,000  for the nine month
period ended  November 30, 1996 and  $1,690,000  for the year ended February 29,
1996.  Shareholders  equity at such dates was $694,000 for the nine month period
ended November 30, 1996 and $829,000 for the year ended February 29, 1996.  Gain
(loss) on  investments  amounted to  ($3,000)  for the nine month  period  ended
November  30, 1996 as  compared  to a gain of $88,000 for the nine month  period
ended  November 30, 1995.  Included in such gains (losses) were no realized gain
or loss and ($3,000) of unrealized loss for the nine month period ended November
30, 1996 compared to $14,000 of realized gain and $74,000 of unrealized gain for
the nine month period ended  November 30, 1995.  Operating  expenses,  including
interest  charges,  amounted  to  $191,000  for the 1996 nine  month  period and
$178,000 for the 1995 nine month  period.  Income (loss) from  operations,  both
before and after  provision for taxes,  was ($134,000) for the nine month period
ended  November 30, 1996  compared to ($61,000)  for the nine month period ended
November 30, 1995. Net earnings  (loss) per share were ($0.06) for the 1996 nine
month period compared to a loss of ($0.03) for the comparable  1995 period.  The
weighted  average  number of shares of Common Stock  outstanding at November 30,
1996 was 2,364,998 and 2,381,250 at November 30, 1995.



Analysis of Financial Condition

     The  Company's  cash  position as at November 30, 1996 (i.e.,  $653,000) 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: (i)
the market  value and  future  ability of the  Company to sell its  position  in
Energy Research, Inc. and Nematron Corp.; and (ii) 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  (chiefly  Stephen E.  Globus) 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 $557,000 at November 30, 1996, a decrease of $103,000  from $660,000
at February 29,  1996.  This  decrease  was due to a $80,000  loan  repayment to
Stephen   E.  and   Richard   D.   Globus,   a   $49,500   charge   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 G of Form 10K for the year ended February 29, 1996); which decrease
was  somewhat  offset by an  increase  of $11,000 in such  loans,  plus  accrued
interest of  approximately  $15,000.  As at November 30, 1996,  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 $406,000, including
accrued  interest.  As at November 30, 1996,  unpaid  salaries  owing to Messrs.
Stephen E. and Richard D. Globus aggregated  $837,000;  so that at such date the
total of monies  owed to Messrs.  Stephen E.  Globus,  Richard D. Globus and Ms.
Jane Globus aggregated approximately $1,800,000.


<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 possible sales of stock of Energy Research,  Inc. and
of Nematron Corporation and 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 for its
fiscal year ended  February  29, 1996 to which Item  reference  is hereby  made.
Reference  is also  hereby  made to Item 1 and Item 7 of such  Report and to the
Financial  Statements and notes thereto contained in such Report for information
concerning the Company's investments and its financial condition.

     It should also be noted that in the three month period  ended  November 30,
1996, the Company:  (i) acquired  260,000 shares of Series A Preferred  Stock of
Genitope  Corporation  ("Genitope")  for  $130,000;  and (ii) acquired a $50,000
Promissory  Note of Woodstock  Communications,  Inc.  ("Woodstock")  for $50,000
(which note  carries  the right on the part of the  Company to convert  interest
payable to it into equity of Woodstock).

     Genitope is a privately  held research and  development  company that holds
proprietary  technology having  applications in the field of cancer therapy.  It
intends to initially  focus upon the development and production of custom cancer
vaccines for the treatment of "B Cell" and "T Cell" Non-Hodgkin's  Lymphoma.  It
is probable that Genitope will find it necessary to attempt to obtain additional
funding at some future date.

     Woodstock is a privately held company that claims certain  trademark rights
to the name  "Woodstock"  for radio and  television  broadcasting.  It presently
intends to create and acquire music,  talk and  information  programming  and to
pursue three main business  areas--local  radio, the Internet and  Merchandising
and Licensing.  Woodstock will necessarily have to attempt to obtain  additional
funding.






PART II - Other Information

Item 6. Exhibits and Reports on Form 8K

     (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, 1997


                                                       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