UNITED  STATES
                   SECURITIES AND EXCHANGE COMMISSION
                           Washington, DC 20549

                                FORM  10 QSB 

(Mark One)

(X)  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
       SECURITIES EXCHANGE ACT OF 1934
     for the quarterly period ended September 30, 1996.

( )  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 24-2472-A


                                 CALDERA CORPORATION
        (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)



       FLORIDA                                        59-3243555
       (State of Incorporation)         (IRS Employer ID Number)

444 Seabreeze Avenue, Suite 435, Daytona Beach, Florida  32118
Post Office Box 1632, Daytona Beach, Florida 32115-1632
(Address of principal executive offices and Zip Code)

registrants telephone number, including area code  904-254-2920

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,
and (2) has been subject to such filing requirements for the past
90 days.  
                                             Yes  X     No      

on September 30, 1996, there were 16,625,000 shares outstanding
of the registrant's common stock, par value $.0025 per share.

     Transitional Small Business Disclosure Format (Check one:
                                             Yes        No   x   

SEC 2334 (3/94)





<PAGE>
CALDERA CORPORATION
(a development Company)

table of contents                                        Page No.

PART I  FINANCIAL INFORMATION

Item 1. Financial Statements (unaudited)

       Balance Sheet as at September 30, 1996               2
                      and September 30, 1995

       Income statement for the nine months
           ended September 30, 1996 and 1995                3

       Cash Flows for the nine months
       ended September 30, 1996 and 1995                    4

       Statement of Stockholder's equity for the
       year ended December 31, 1995 and the
       nine months ended September 30, 1996                 5

       Notes to Financial Statements                       6-8

Item 2.  Plan of Operation.                                 8

PART II  OTHER INFORMATION                                  8


























<PAGE>
                      PART I - FINANCIAL INFORMATION
       Item 1. Financial Statements (Unaudited)


CALDERA CORPORATION
(a development Company)
BALANCE SHEET
                                                 September 30
                                                1996      1995
                                      ASSETS
CURRENT ASSETS:
    Cash                                      $    716  $ 33,649

FIXED ASSETS:
    Property & Equipment At Cost
    Less Accumulated depreciation of
    $1,853 & $994                                4,595     4,051 

        
OTHER ASSETS:
    Mining Leases                                6,875     6,875
    Advance Deposits                             1,816     6,650 

  Total  Assets                               $ 14,002  $ 51,225 

               LIABILITIES & STOCKHOLDER'S EQUITY

CURRENT LIABILITIES:
    Accounts Payable                          $         $    281
    Notes Payable Stockholders                  51,104    65,821
    Accrued interest on notes                    2,536     1,115

  Total Current Liabilities                     53,640    67,217

  OTHER LIABILITIES:
    Mining Lease Dispute                        41,560    41,560
    Certificate Replacement                        100       100

  Total Other Liabilities                       41,660    41,660

  STOCKHOLDER'S EQUITY
    Common stock $.0025 par value
    200,000,000 shares authorized
    16,625,000 shares issued and                41,563    41,563
    outstanding 
    Additional paid in capital                  19,002    19,002 

    Accumulated deficit                       (141,863) (118,217)

Total Stockholder's Equity                     (81,298)  (57,652)

Total Liabilities & Stockholder's Equity     $  14,002  $ 51,225

<PAGE>                              See notes to financial statements
CALDERA CORPORATION
(a development Company)
Statement of Income and Accumulated Deficit
(Unaudited)

                                              For the Nine Months
                                              Ended September 30,
                                                  1996     1995
                                               $  -0-    $   -0-


  EXPENSES:

  Selling, General & Administrative Expenses     13,492   11,815

  Legal and Accounting                            5,278    5,150 

   
  Interest                                        4,017    3,480 

   
  Depreciation                                      859      575 

   

  Net  (loss)                                   (23,646) (21,020)

     

               (Loss) per share                   (.001)   (.001)

  Accumulated (deficit), as of Dec. 31         (118,217) (92,229)

    
  Accumulated (deficit), as of September 30  $(141,863)$(113,249)




                              See notes  to financial statements













<PAGE>
CALDERA CORPORATION
(a development Company)
STATEMENT OF CASH FLOWS
(Unaudited)

                                       For the Nine Months Ended
                                             September 30        

       
                                            1996           1995


  CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                 $ (23,646)  $ (21,020)
  
  Adjustments to reconcile net income to
   net cash used by operating activities:   
  Depreciation                                   859         575 

  Changes in Assets & Liabilities

  Accrued Interest & Expenses                  1,140       8,401 


  Plant & Equipment                           (1,403)       (954)
   
  Advance Deposits                             4,834         200
                     
  Reserves                                                   100

    Net Cash Used by Operating Activities    (18,216)    (12,698)


  CASH FLOWS FROM FINANCING ACTIVITIES:
  Sale of stock to shareholders                            1,285

  Additional paid in capital by shareholders              13,965
  Reduction in Loans from shareholders        (14,717)    (2,600)
                                             
    Net Cash Provided By Financing Activities (14,717)    12,650 


  NET CHANGE IN CASH AND CASH EQUIVALENTS    $ (32,933)   $   48

  Cash and Cash Equivalents, Beg. of Period     33,649       321 

  Cash and Cash Equivalents, End of Period    $    716    $  273 




               See notes to  financial statements

<PAGE>
CALDERA CORPORATION
(a development Company)
STATEMENT OF STOCKHOLDERS' EQUITY
(Unaudited)
                  FOR THE YEAR ENDED DECEMBER 31, 1995
                      AND THROUGH SEPTEMBER 30 1996

                      Common Stock            Capital in
                      ______________________   Excess of  Accum.
                          Shares     Amount    Par Value  Deficit
                        __________  ________  _________ _________

BALANCE
DECEMBER 31, 1994       16,111,000  $40,278   $ 5,037   $(92,229)

Shares exchanged for cash
 January 1995                1,000        3       997
 February 1995              10,000       25     9,975
 March 1995 (note 3)       500,000    1,250        -
 April 1995                  2,000        5     1,995
 May   1995                  1,000        2       998


Net loss for the period                                  (25,988)
ended December 31, 1995
      
BALANCE
DECEMBER 31, 1995       16,625,000  $41,563  $ 19,002  $(118,217)


Net loss for the period                                  (23,646)
ended September 30, 1996

BALANCE
September 30, 1996      16,625,000  $41,563  $ 19,002 $ (141,863)


                      See notes to financial statements















<PAGE>
CALDERA CORPORATION
(a development Company)
NOTES TO FINANCIAL STATEMENTS
( Unaudited)

NOTE 1 -GENERAL ACCOUNTING POLICIES 
ACCOUNTING FOR GOLD SALES REVENUE - Revenue from the sale of gold
is recognized at the point of sale to the customer.  The Company 
will also deliver the gold at that time and collect the cash.    
Therefore the Company will have no accounts receivable resulting
from the sale of gold.

PROPERTY AND EQUIPMENT - The cost of property and equipment is   
depreciated over the estimated useful lives of the related       
assets.  The estimated useful lives of the office equipment is   
five years.  Depreciation is computed on a straight-line basis   
for financial reporting purposes and on ACRS for income tax      
purposes.

MAINTENANCE AND REPAIRS - Maintenance and repairs are charged to 
operations when incurred.  Improvement and renewals are          
capitalized.  When property and equipment are sold or otherwise  
disposed of, the asset account and related accumulated           
depreciation account are relieved, and any gain or loss is       
included in operations.

VALUATION OF STOCK ISSUED IN NONCASH TRANSACTIONS - Stock issued
in noncash transactions will be valued at current market value.
If no current market value can be established through a
recognized national stock market, assets acquired by issuance of
stock will be valued at the par value of the stock issued.
There is currently no market in the stock.

CARRYING VALUE OF MINING PROPERTIES - All mining properties will
be carried at cost.

PROVISION FOR TAXES - The Company has not made a profit to date  
and is in the development stage with no ascertainable time       
table for profitability, if ever, therefore no provisions have   
been made for taxes or loss carryover benefit under FAS 109      
guidelines.

USE OF ESTIMATES - The preparation of financial statements in    
conformity with generally accepted accounting principals         
requires management to make estimates and assumptions that       
affect the reported amounts of assets and liabilities and        
disclosure of contingent assets and liabilities at the date of   
the financial statements and the reported amounts of revenues    
and expenses during the reporting period.  Actual results could  
differ from these estimates.



<PAGE>
NOTE 2 - PROPERTY AND EQUIPMENT                             

The following is a summary of property and equipment - at cost, 
less accumulated depreciation:

           Office equipment                   $6,448
    Less: Accumulated depreciation            (1,853)
                                              _______
        Total                                 $4,595
                                              =======
The Company incurred $6,139 rental expense under non-cancelable  

operating leases to date in 1996.  Future minimum lease          

payments related to the current lease are as follows:

                       1996                  $ 2,594
                       1997                   10,377
                       1999                   10,377 
                       2000                    6,918
                                             -------
                      TOTAL                  $30,266
                                             =======

NOTE 3 - LEGAL PROCEEDINGS

The Company is currently litigating the State of Alaska's       
determination that the Company had not filed its annual         
assessment affidavit correctly.  The State asserted this        
constituted an abandonment of all of its claims.  This          
determination is being contested by the Company by way of an    
appeal to the appropriate court in Alaska.  An unfavorable      
decision could result in the loss of the assets related to      
Alaska mining leases.

Although not currently in litigation; management believes that  
the current owners of the Beluga Mining Company feel that       
Caldera has defaulted on the provisions of an option agreement  
between the two companies by the failure to pay the rental fees 
of Seventy Thousand ($70,000) dollars to the State of Alaska    
for certain mining claims held by Beluga. 

Management does not know of any other potential litigation      
involving the Company which may be filed in the future.

The Company has hired Legal counsel to pursue its disputed      
Alaska mining claims.  Legal counsel at this time can not       
express an opinion as to the outcome of this litigation.        
Negotiations have been initiated with the representatives of    
the State of Alaska to resolve the issues involved in the above 
mining claims and management believes that a satisfactory       
settlement can be negotiated.

<PAGE>

               Item 2. Plan of Operation

The Company is currently inactive and no significant            
exploration is planned for the current year.  The Company is    
dependant upon obtaining additional financing through a stock   
offering, loan or joint venture in order to be able to initiate 
significant exploration of the existing leases and to           
investigate the acquisition of additional leases that could     
show favorable exploration results.

Negotiations have been initiated with the representatives of    
the State of Alaska to resolve the issues currently under       
litigation.    Completion of these negotiations in a             

satisfactory manner will be required before additional           

significant financing options can be completed.

Part II Other Information

  Item 1.  Legal Proceedings.

The Company is currently litigating the State of Alaska's  
determination that the Company had not filed its annual    
assessment affidavit correctly.  The State asserted this   
constituted an abandonment of all of its claims.  This     
determination is being contested by the Company by way of  
an appeal to the appropriate court in Alaska.  An          
unfavorable decision could result in the loss of the       
assets related to Alaska mining leases.

Although not currently in litigation; management believes  
that the current owners of the Beluga Mining Company feel  
that Caldera has defaulted on the provisions of an option  
agreement between the two companies by the failure to pay  
the rental fees of Seventy Thousand ($70,000) dollars to   
the State of Alaska for certain mining claims held by      
Beluga. 

Management does not know of any other potential litigation 
involving the Company which may be filed in the future.

The Company has hired legal counsel to pursue its disputed 
Alaska Mining Claims.  Legal counsel at this time can not  
express an opinion as to the outcome of this litigation.   
Negotiations have been initiated with the representatives  
of the State of Alaska to resolve the issues involved in        
the above mining claims and management believes that a     
satisfactory settlement can be negotiated.

  Item 2.  Changes in Securities.
               None.
<PAGE>
  Item 3.  Defaults Upon Senior Securities.
               None.

  Item 4.  Submission Of Matters to a Vote of Security Holders.
At the annual meeting of shareholders held April 27, 1996        

at Daytona Beach, Florida the name of the Corporation was        

changed from CALDERA CORPORATION, INC. to CALDERA                

CORPORATION.  Said vote was by all 10,009,500 shares
present.       

  Item 5.  Other information.
               None.

  Item 6.  Exhibits and Reports on Form 8-K (Section 294.308 of
           this chapter).
               None.          





signature

       Pursuant to the requirements of the Securities Act of 1934
the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.


               CALDERA CORPORATION



       by       J. Allen Thumser  
               J. Allen Thumser, Treasurer and
               Chief Financial Officer

   Date October 31,1996













<PAGE>