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 May 31, 2000

                                       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 151,743
held in treasury)

<PAGE>


PART I - FINANCIAL INFORMATION
Item 1.  Financial Statements


GLOBUS GROWTH GROUP, INC.

CONDENSED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                   May 31,     February 29,
                                                                    2000           2000
                                                                -----------    -----------
                                                                (Unaudited)    (See Note 1)
<S>                                                             <C>            <C>
ASSETS
Cash                                                            $    11,000    $    58,000
Investments in Securities (Note 3)                              $ 1,453,000    $ 1,863,000
Other Assets                                                    $    10,000    $    11,000
                                                                -----------    -----------
TOTAL                                                           $ 1,474,000    $ 1,932,000
                                                                -----------    -----------

LIABILITIES AND STOCKHOLDERS'  EQUITY

Liabilities
  Accounts payable and accrued expenses                         $ 1,194,000    $ 1,178,000
  Loans payable to officers/shareholders                        $   246,000    $   249,000
  Demand loan payable to related party                          $   322,000    $   320,000
                                                                -----------    -----------
Total Liabilities                                               $ 1,762,000    $ 1,747,000
                                                                -----------    -----------

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 5/31/00                   $    25,000    $    25,000
Additional paid in capital                                      $ 2,747,000    $ 2,747,000
Treasury Stock, 151,743 shares at 5/31/00                      ($    41,000)  ($    41,000)
Accumulated earnings (deficit)                                 ($ 3,019,000)  ($ 2,546,000)
                                                                -----------    -----------
Total stockholders' equity                                     ($   288,000)   $   185,000
                                                                -----------    -----------
TOTAL                                                           $ 1,474,000    $ 1,932,000
                                                                -----------    -----------
</TABLE>


(See Accompanying Notes to Financial Statements)

<PAGE>


GLOBUS GROWTH GROUP, INC.


STATEMENT OF OPERATIONS
     (Unaudited)

                                                            Three Months
                                                            Ended May 31,
                                                        2000             1999
                                                    -----------      -----------

Gain (loss) on investments:
   Realized                                         $         0      $         0
   Unrealized                                      ($   410,000)     $   125,000
                                                    -----------      -----------
Total                                              ($   410,000)     $   125,000
Dividend Income                                     $     1,000      $     1,000
Interest Income                                     $         0      $     3,000
Consulting and other income                         $     6,000      $     3,000
                                                    -----------      -----------
TOTAL                                              ($   403,000)     $   132,000

Expenses:
   General and administrative                       $    67,000      $    70,000
   Interest                                         $     3,000      $     4,000
                                                    -----------      -----------
TOTAL                                               $    70,000      $    74,000

Income (loss) from operations before taxes         ($   473,000)     $    58,000
Benefit/(Provision) for taxes                       $         0      $         0
                                                    -----------      -----------
Net earnings (loss)                                ($   473,000)     $    58,000
                                                    -----------      -----------


Net (Loss) per share of common stock               ($      0.20)     $      0.02
Weighted Average Number of shares of
    Stock Outstanding                                 2,347,257        2,347,257
                                                    -----------      -----------


(See Accompanying Notes to Financial Statements)

<PAGE>


GLOBUS GROWTH GROUP, INC.


STATEMENT OF CASH FLOWS
      (Unaudited)

<TABLE>
<CAPTION>
                                                                                        Three Months
                                                                                        Ended May 31,
                                                                                     2000           1999
                                                                                   ---------      ---------
<S>                                                                               <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Income (loss)                                                               ($ 473,000)     $  58,000
  Adjustments to reconcile net income (loss) to net cash provided by (used in)
    operating activities:
    Depreciation and amortization                                                  $       0      $       0
    Realized (gain) loss on investments                                            $       0      $       0
    Unrealized (gain) loss on investments                                          $ 410,000     ($ 125,000)
    Increase/(decrease) in accounts payable, accrued expenses and
      accrued interest on loans                                                    $  19,000      $  19,000
    (Increase) decrease in other assets                                            $   1,000      $   2,000
                                                                                   ---------      ---------

    Net cash (used in ) operating activities                                      ($  43,000)    ($  46,000)
    -------------------------------------------------------------------------------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES:

  Purchase of investments                                                          $       0     ($ 200,000)
  Issuance of demand loan receivable                                               $       0      $       0
  Proceeds from sale of investments                                                $       0      $       0
                                                                                   ---------      ---------

    Net cash provided by (used in ) investing activities                           $       0     ($ 200,000)
    -------------------------------------------------------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Repayment of loans payable to officers/shareholders                             ($   4,000)    ($   2,000)
  Increase (decrease) in loans payable to officers/shareholders                    $       0      $ 150,000
  Purchase of treasury stock                                                       $       0      $       0
                                                                                   ---------      ---------

    Net cash provided by (used in) financing activities                           ($   4,000)     $ 148,000
    -------------------------------------------------------------------------------------------------------

Net increase (decrease) in cash                                                   ($  47,000)    ($  98,000)

Cash - beginning of period                                                         $  58,000      $ 233,000

Cash - end of period                                                               $  11,000      $ 135,000

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
  Cash paid during the year for:
    Interest                                                                       $       0      $       0
    Income Taxes                                                                   $       0      $       0
  Stock received for consulting services
</TABLE>


(See Accompanying Notes to Financial Statements)

<PAGE>


GLOBUS GROWTH GROUP, INC.                                           May 31, 2000
                     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 May 31, 2000,  the results of operations  for the three
          months  ended May 31, 2000 and 1999,  and  statement of cash flows for
          the three months ended May 31, 2000 and 1999.

          The results of operations  for the three months ended May 31, 2000 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, 2000.

          The balance  sheet at  February  29,  2000 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, 2000 and May 31, 2000,  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 Management, in the case of interim financial statements,  and
          by the  Board  of  Directors,  in  the  case  of  year  end  financial
          statements;  in each  instance,  in the  exercise of their  respective
          judgments,  after taking into  consideration  various  indications  of
          value available to them.

          (Continued on next page)

<PAGE>


Note 3 -  (Continued)

<TABLE>
<CAPTION>
                                                   May 31,                             February 29,
                                                    2000                                  2000
                                                   -------                             ------------
                                        No.                                    No.
                                      Shares       Value        Cost         Shares       Value        Cost
                                      -------   ----------   ----------      -------   ----------   ----------
<S>                                   <C>       <C>          <C>             <C>       <C>          <C>
Common Stock
Catamount Brewing Co.                  23,215   $        0   $  176,000       23,215   $        0   $  176,000
Interface Systems Inc.                    775   $    5,000   $    7,000          775   $   25,000   $    7,000
Kimeragen, Inc. Cl A                  108,827   $  219,000   $  219,000      108,827   $  219,000   $  219,000
Kimeragen, Inc. Cl B                   35,000   $   75,000   $   75,000       35,000   $   75,000   $   75,000
Repligen Corporation                   46,218   $  211,000   $   87,000       46,218   $  601,000   $   87,000
Thermaphore Sciences, Inc.             33,333   $   13,000   $   13,000       33,333   $   13,000   $   13,000
                                                ----------   ----------                ----------   ----------
Total Common Stock                              $  523,000   $  577,000                $  933,000   $  577,000
                                                ----------   ----------                ----------   ----------

Preferred Stock
Catamount Brewing Co. Pfd               4,286   $        0   $  150,000        4,286   $        0   $  150,000
Genitope Corp. Series A Pfd           420,858   $  210,000   $  210,000      420,858   $  210,000   $  210,000
Genitope Corp. Series B Pfd           332,992   $  420,000   $  420,000      332,992   $  420,000   $  420,000
Kimeragen, Inc. Series A Pfd           60,000   $  150,000   $  150,000       60,000   $  150,000   $  150,000
Thermaphore Sciences, Inc. A Pfd      100,000   $  150,000   $  150,000      100,000   $  150,000   $  150,000
                                                ----------   ----------                ----------   ----------
Total Preferred Stock                           $  930,000   $1,080,000                $  930,000   $1,080,000
                                                ----------   ----------                ----------   ----------

Total Investments - Fair  value                 $1,453,000   $1,657,000                $1,863,000   $1,657,000
                                                ----------   ----------                ----------   ----------
</TABLE>

<PAGE>


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

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 May 31,  2000,  the Company had total assets of  $1,474,000  compared to
total assets of $1,932,000  at February 29, 2000.  Included in total assets were
investments  of $1,453,000 at May 31, 2000 and  $1,863,000 at February 29, 2000.
Shareholders  equity was ($288,000) at May 31, 2000 and $185,000 at February 29,
2000.  Loss on  investments  amounted to  ($410,000)  for the three month period
ended May 31,  2000,  compared to a gain of $125,000  for the three month period
ended May 31,  1999.  Included in such losses were no realized  gain or loss and
unrealized  loss of  ($410,000)  for the three month  period  ended May 31, 2000
compared to no realized  gain or loss and  $125,000 of  unrealized  gain for the
three month period ended May 31, 1999.  Operating  expenses,  including interest
charges, amounted to $70,000 for the 2000 three month period and $74,000 for the
1999 three month period.  Income (loss) from  operations,  both before and after
provision  for taxes,  was  ($473,000)  for the three month period ended May 31,
2000  compared to $58,000 for the three month  period  ended May 31,  1999.  Net
earnings  (loss) per share was ($0.20) for the 2000 three month period  compared
to $0.02 for the comparable 1999 period.  The weighted  average number of shares
of Common Stock outstanding at May 31, 2000 and at May 31, 1999 is 2,347,257.


Liquidity, Capital Resources and Other Matters Affecting Financial Condition

     The near term  liquidity of the  Company,  as well as its near term capital
resources position, are presently 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
Mr. Stephen E. Globus amounted to $214,000 at May 31, 2000, a decrease of $4,000
from $218,000 at February 29, 2000. This decrease was due to a loan repayment to
Stephen E. Globus of approximately  $4,000,  and an increase in accrued interest
of approximately $383. Loans payable to Messrs. Stephen E. and Richard D. Globus
(including  accrued  interest)  amounted to $32,000 at May 31, 2000 and February
29, 2000, and an increase in accrued interest of  approximately  $488. As at May
31, 2000, 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  $322,000,  including accrued interest. As at May 31, 2000, unpaid
salary owing to Mr.  Stephen E. Globus was $592,000,  and unpaid salary owing to
Mr.  Richard D.  Globus was  $561,000;  so that at such date the total of monies
owed to  Messrs.  Stephen E.  Globus,  Richard D.  Globus  and Ms.  Jane  Globus
aggregated approximately $1,721,000.

     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

<PAGE>


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, 2000 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.


The Year 2000 Problem

     The fact that most existing and unmodified computer systems may not be able
to  distinguish  the year 2000 from the year 1900 has created  what is generally
known as the "Year 2000 Problem" (hereinafter "Y2K"). The full extent of the Y2K
problem  has not been  known,  and it is  generally  agreed  that if not  timely
corrected, it could adversely affect many businesses.

     The Company's own internal systems have not been materially affected by the
Y2K problem.  While there can be no assurance that: (a) the computer systems and
applications of the Company's  various  investees were in fact converted timely,
or, (b) that a failure to so correct by one or more material investees would not
have a material adverse effect on the Company's financial condition, the Company
is not aware of any adverse effects suffered by any of its investees.


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: July 15, 2000

                                        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