UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

(Mark One)

[X]   QUARTERLY  REPORT PURSUANT  TO  SECTION 13 OR 15 (d) OF THE SECURITIES AND
EXCHANGE ACT OF 1934

                For the quarterly period ended September 30, 2000

[ ]   TRANSACTION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES AND
EXCHANGE ACT OF 1934

For the transition period from ______________  to  ________________

                       Commission file number - 000-22813

                             CENTERPOINT CORPORATION
                             -----------------------
             (Exact name of registrant as specified in its charter)



                    Delaware                                  13-3853272
-----------------------------------------------       --------------------------
(State or other jurisdiction of incorporation          (I.R.S. Employer
or organization)                                       Identification No.)

              299 PARK AVENUE, 16th FLOOR, NEW YORK, NEW YORK 10167
                    -----------------------------------------
               (Address of principal executive offices - Zip code)


Registrant's telephone number, including area code:  (212) 644-4441

Former  name,  former  address and former  fiscal  year,  if changed  since last
report.

MOTO GUZZI CORPORATION

Indicate by checkmark  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 checkmark whether the registrant has filed all documents and 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
                                         ----     ------


<PAGE>

APPLICABLE ONLY TO CORPORATE ISSUERS:  Indicate the number of shares outstanding
of each of the issuer's  classes of common stock,  as of the latest  practicable
date.

Common  stock,  par value $.01 per share,  5,999,092  shares  outstanding  as of
November 20, 2000.


                                       2

<PAGE>

                                TABLE OF CONTENTS

                                                                            PAGE

Part I - Financial Information.................................................3

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS................................4

ASSETS.........................................................................4

LIABILITIES....................................................................4

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS................................5

Nine Months to September 30, 2000 and 1999.....................................6

COMPREHENSIVE INCOME/(LOSS)....................................................7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW.......................8

1.       Basis of Presentation................................................10

2.       Discontinued motorcycle operations...................................12

3.       Execution and Delivery of Share Purchase Agreement...................13

4.       Issuance of Series B Preferred Stock.................................15

5.       Accumulated Other Comprehensive Income...............................16

5.       Earnings/loss from continuing operations per share...................16

Management's  Discussion and Analysis of Financial Condition and Results
of Operations.................................................................18

Liquidity and Financial Resources.............................................19

Part II  -  Other Information.................................................20

Item 1.  Legal Proceedings....................................................20

Item 2.  Changes in Securities................................................20

Item 3.  Defaults Upon Senior Securities......................................20

Item 4.  Submission of Matters to a Vote of Security Holders..................20

Item 5.  Other Information....................................................20

SIGNATURES....................................................................21




CENTERPOINT CORPORATION
(MOTO GUZZI CORPORATION THROUGH SEPTEMBER 19, 2000)

Part I - Financial Information


                                       3
<PAGE>

CENTERPOINT CORPORATION
(MOTO GUZZI CORPORATION THROUGH SEPTEMBER 19, 2000)
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

September 30, 2000
<TABLE>
<CAPTION>

                                                                      SEPT. 30        SEPT. 30        DEC. 31
                                                                        2000            2000            1999
                                                                       US$'000         LIT. M          LIT. M
<S>                                                               <C>           <C>            <C>
ASSETS

CASH AND CASH EQUIVALENTS                                         $     14,713  LIT.   32,221  LIT.          3
MARKETBALE SECURITIES                                                   12,784         27,998                -
RECEIVABLES                                                              3,196          7,000              196

  RECEIVABLES FROM RELATED PARTIES                                           -              -              196
  ESCROW RECEIVABLE                                                      3,196          7,000                -

PREPAID EXPENSES                                                           100            220              128
                                                                      ---------      ---------       ----------
TOTAL CURRENT ASSETS                                                    30,793         67,439              327
                                                                      ---------      ---------       ----------

ESCROW RECEIVABLE IN 2007                                                1,084          2,375                -
                                                                      ---------      ---------       ----------
TOTAL ASSETS                                                      $     31,877  LIT.   69,814  LIT.        327
                                                                      =========      =========       ==========

LIABILITIES

ACCOUNTS PAYABLE                                                           458          1,005              898
AMOUNTS DUE TO RELATED AND AFFILIATED PARTIES                              253            556               80
PAYABLE FOR REDEMPTION OF SERIES B PREFERRED STOCK                      12,350         27,044                -
ACCRUED EXPENSES AND OTHER PAYABLES                                        880          1,930              252
                                                                      ---------      ---------       ----------
TOTAL CURRENT LIABILITIES                                               13,941         30,535            1,230
                                                                      ---------      ---------       ----------
NET LIABILITIES OF DISCONTINUED OPERATIONS                                   -              -           11,932

ADVANCES FOR REDEEMABLE PREFERRED STOCK SUBSCRIPTION                         -              -            2,405


SHAREHOLDERS' EQUITY/(DEFICIT)                                          17,936         39,279          (15,240)


COMMON STOCK, PAR VALUE $0.01 PER SHARE:
  AUTHORISED 20,250,000 SHARES;
  5,599,092 (1999 - 5,589,092) SHARES OUTSTANDING                           49            108              100

ADDITIONAL PAID-IN CAPITAL                                              16,970         37,163           39,834
ACCUMULATED OTHER COMPREHENSIVE INCOME                                    (184)          (402)             133
ACCUMULATED DEFICIT                                                      1,101          2,410          (55,307)
                                                                      ---------      ---------       ----------
LIABILITIES & SHAREHOLDERS' DEFICIT                               $     31,877  LIT.   69,814  LIT.        327
                                                                      =========      =========       ==========
</TABLE>

Note:  The balance  sheet as at  December  31,  1999 has been  derived  from the
audited  financial  statements  at that  date but does  not  include  all of the
information and footnotes required by generally accepted accounting principles.

                 SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


                                       4
<PAGE>

CENTERPOINT CORPORATION
(MOTO GUZZI CORPORATION THROUGH SEPTEMBER 19, 2000)
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months to September 30, 2000 and 1999
<TABLE>
<CAPTION>

                                                                      SEPT. 30        SEPT. 30        SEPT. 30
                                                                        2000            2000            1999
                                                                      US $'000        LIRE M.         LIRE M.
<S>                                                               <C>           <C>            <C>
INTEREST INCOME                                                   $         49  LIT.      108  LIT.          -

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES                                (7)           (16)               -
INTEREST EXPENSE                                                            (5)           (11)               -
OTHER INCOME, NET                                                          281            616                -
                                                                     -----------     ---------       ----------
PROFIT FROM CONTINUING OPERATIONS                                          318            697                -

DISCONTINUED OPERATIONS:
  LOSS FROM DISPOSED MOTORCYCLE OPERATIONS                                   -              -           (3,753)
    (AFTER TAX OF LIT. 514 AND LIT. 165)

  GAIN ON DISPOSAL OF MOTORCYCLE OPERATIONS                             30,325         66,411                -
                                                                     -----------     ---------       ----------
NET PROFIT/(LOSS)                                                       30,643         67,108           (3,753)
PREFERRED STOCK DIVIDENDS                                                 (209)          (458)               -
                                                                     -----------     ---------       ----------
PROFIT/LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS                   $     30,434  LIT.   66,650  LIT.     (3,753)
                                                                     ===========     =========       ==========



BASIC EARNINGS/(LOSS) PER SHARE:                                            US           LIRE             LIRE

CONTINUING OPERATIONS                                             $          0.0 LIT.      41  LIT.          -
DISCONTINUED OPERATIONS                                           $          5.1 LIT.  11,325  LIT.       (667)

DILUTED EARNINGS/(LOSS) PER SHARE:

CONTINUING OPERATIONS                                             $          0.0 LIT.      41  LIT.          -
DISCONTINUED OPERATIONS                                           $          5.1 LIT.  11,325  LIT.       (667)

WEIGHTED AVERAGE NUMBER OF SHARES
  OUTSTANDING DURING THE PERIOD

BASIC                                                                 5,864,309     5,864,309        5,625,125
                                                                     ===========    ==========       ==========

DILUTED                                                               5,864,309     5,864,309        5,632,658
                                                                     ===========    ==========       ==========
</TABLE>

                 SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS



                                       5
<PAGE>

CENTERPOINT CORPORATION
(MOTO GUZZI CORPORATION THROUGH SEPTEMBER 19, 2000)
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

NINE MONTHS TO SEPTEMBER 30, 2000 AND 1999
<TABLE>
<CAPTION>
                                                                      SEPT. 30        SEPT. 30        SEPT. 30
                                                                        2000            2000            1999
                                                                      US $'000        LIRE M.         LIRE M.
<S>                                                                 <C>          <C>             <C>
INTEREST INCOME                                                     $       49   LIT.       108  LIT.         -

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES                                (7)             (16)              -
INTEREST EXPENSE .                                                          (5)             (11)              -
OTHER INCOME, NET                                                          281              616               -
                                                                     -----------     -----------     -----------
PROFIT FROM CONTINUING OPERATIONS                                          318              697               -

DISCONTINUED OPERATIONS:
  LOSS FROM DISPOSED MOTORCYCLE OPERATIONS                              (3,801)          (8,324)        (14,152)
    (AFTER TAX OF LIT. 514 AND LIT. 165)

  GAIN ON DISPOSAL OF MOTORCYCLE OPERATIONS                             30,325           66,411               -
                                                                     -----------     -----------     -----------
NET PROFIT/(LOSS)                                                       26,842           58,784         (14,152)
PREFERRED STOCK DIVIDENDS                                                 (487)          (1,067)              -
                                                                     -----------     -----------     -----------
PROFIT/LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS                     $   26,355   LIT.    57,717  LIT.   (14,152)
                                                                     ===========     ===========     ===========



BASIC EARNINGS/(LOSS) PER SHARE:                                            US $           LIRE            LIRE

CONTINUING OPERATIONS                                               $    (0.03)  LIT.       (65) LIT.         -
DISCONTINUED OPERATIONS                                             $     4.67   LIT.    10,218  LIT.
   (2,985)

DILUTED EARNINGS /(LOSS) PER SHARE:

CONTINUING OPERATIONS                                               $    (0.03)  LIT.       (65) LIT.         -
DISCONTINUED OPERATIONS                                             $     4.67   LIT.    10,218  LIT.    (2,985)

WEIGHTED AVERAGE NUMBER OF SHARES
  OUTSTANDING DURING THE PERIOD

BASIC                                                                5,684,895        5,684,895       4,741,409
                                                                     ===========     ===========     ===========

DILUTED                                                              5,684,895        5,684,895       4,901,065
                                                                     ===========     ===========     ===========
</TABLE>



                 SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


                                       6
<PAGE>

CENTERPOINT CORPORATION
(MOTO GUZZI CORPORATION THROUGH SEPTEMBER 19, 2000)
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT)
AND COMPREHENSIVE INCOME/(LOSS)

September 30, 2000

<TABLE>
<CAPTION>
                                                                                                 ACCUMU-                     COMPRE-
                                                                                                  LATED                      HENSIVE
                                                                            CLASS B      ADDI-    OTHER                      INCOME/
                                                        COMMON STOCK       PREFERRED    TIONAL    COMPRE-  ACCUMU-   SHARE-  LOSS
                                                                            STOCK       PAID-IN  HENSIVE    LATED   HOLDERS  -------
                                                     SHARES     AMOUNT  SHARES  AMOUNT  CAPITAL  INCOME    DEFICIT  EQUITY
                                                   ---------------------------------------------------------------------------------
<S>                                           <C>    <C>         <C>   <C>       <C>   <C>       <C>      <C>      <C>      <C>
AT JANUARY 1, 2000                            LIT.M  5,589,092   100        -    -     39,834      133    (55,307) (15,240)
Net profit                                                   -     -        -    -          -        -     57,717   (8,933)  57,717
Translation adjustment                                       -     -        -    -          -     (535)         -     (535)    (535)
Issuance of Series B Preferred Stock                         -     -   123,500   2     23,980        -          -   23,982        -
Reclassification for redemption of                           -     -        -    -    (23,982)       -          -  (23,982)       -
  preferred stock

Accretion expense for preferred stock
  redemption and related exchange movements                  -     -        -    -        -     (3,062)        -    (3,062)  (3,062)
Redemption of Series B Preferred Stock                       -     -  (123,500)  -     (3,060)   3,062         -         -        -
Issuance of shares for MGI purchase                     10,000     -        -    -         91        -         -        91        -
Issuance of shares for OAM warrant exercise            100,000     2        -    -          -        -         -         2        -
Issuance of shares to TRG                              300,000     6        -    -         (6)       -         -         -        -
Amortization of non-cash finance charges                     -     -        -    -        306        -         -      (306)       -
                                                    --------------------------------------------------------------------------------
AT SEPETMBER 30, 2000                         LIT.M  5,999,092   108        -    -     37,163     (402)    2,410    39,279   54,120
                                                     ===============================================================================

AT JUNE 30, 2000                              $'000               49             -   16,970      (184)     1,101    17,936    24,715
                                                           ==========         ======================================================
</TABLE>

                 SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENT



                                       7
<PAGE>

CENTERPOINT CORPORATION AND SUBSIDIARIES
(MOTO  GUZZI  CORPORATION   THROUGH  SEPTEMBER  19,  2000)
UNAUDITED  CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

September 30, 2000 and 1999

<TABLE>
<CAPTION>
                                                                       SEP. 30        SEP. 30         SEP. 30
                                                                        2000            2000            1999
                                                                       US$'000         LIT. M          LIT. M
<S>                                                                 <C>          <C>             <C>
NET PROFIT FROM CONTINUING OPERATIONS                               $       318  LIT.       697  LIT.         -
PREFERRED STOCK DIVIDENDS                                                  (487)         (1,067)              -

ADJUSTMENTS TO RECONCILE NET LOSS TO NET
 CASH USED BY OPERATING ACTIVITIES:
 AMORTIZATION OF WARRANT  ISSUANCE FOR FINANCE EXPENSE                      158             347             609
 OTHER OPERATING ACTIVITIES                                              (1,094)         (2,397)           (519)
CHANGES IN OPERATING ASSETS AND LIABILITIES:
 RELATED PARTY RECEIVABLES                                                   90             196              80
 PREPAID EXPENSES                                                           (32)            (69)            (93)
 ACCOUNTS PAYABLE AND ACCRUED EXPENSES                                     (280)           (613)         (1,195)
 RELATED PARTY PAYABLES                                                     217             476          (1,174)
                                                                     -----------     -----------     -----------
NET CASH USED BY OPERATING ACTIVITIES                                    (1,110)         (2,430)         (2,292)
                                                                     -----------     -----------     -----------
INVESTING ACTIVITIES
 INVESTMENT IN MARKETABLE SECURITIES                                    (12,028)        (26,339)              -
                                                                     -----------     -----------     -----------
NET CASH PROVIDED BY FINANCING ACTIVITIES                               (12,028)        (26,339)              -
                                                                     -----------     -----------     -----------
FINANCING ACTIVITIES
 PROCEEDS FROM MERGER WITH NAAC                                               -               -          16,006
 PROCEEDS FROM ISSUANCE OF PREFERRED STOCK                                8,370          18,329               -
 ADVANCE FOR SUBSCRIPTION TO PREFERRED STOCK                                                  -           2,274
                                                                     -----------     -----------     -----------
NET CASH PROVIDED BY FINANCING ACTIVITIES                                 8,370          18,329          18,280
                                                                     -----------     -----------     -----------
INCREASE/(DECREASE) IN CASH FROM CONTINUING ACTIVITIES                   (4,768)        (10,440)         15,988

NET CASH FROM/(USED BY) DISCONTINUED MOTORCYCLE OPERATIONS               19,480          42,658         (15,711)

EXCHANGE MOVEMENT ON OPENING CASH                                             -               -               -
CASH, BEGINNING OF PERIOD                                                     1               3               -
                                                                     -----------     -----------     -----------
CASH, END OF PERIOD                                                 $    14,713  LIT.    32,221 LIT.        277
                                                                     ===========     ===========     ===========


NET CASH FROM/(USED BY) DISCONTINUED MOTORCYCLE OPERATIONS
 NET CASH PROCEEDS FROM SALE                                             27,534          60,293               -
 FINANCING OF DISPOSED OPERATIONS                                        (7,280)        (15,941)        (13,863)
 OTHER EXPENDITURE ALLOCATED TO DISCONTINUED OPERATIONS                    (774)         (1,694)         (1,848)
                                                                     -----------     -----------     -----------
                                                                         19,480          42,658         (15,711)
                                                                     -----------     -----------     -----------
</TABLE>


                                       8
<PAGE>

SUPPLEMENTAL INFORMATION ON NON-CASH ACTIVITIES

Advances to the Company in an  aggregate  amount of $1.25  million  (Lit.  2,479
million at the then  prevailing  exchange  rate) by  Wheatley  Partners,  LP and
Wheatley Foreign Partners, LP (each of which is an affiliate of Barry Fingerhut,
a Director of the  Company) and William  Spier,  a director of the Company and a
US$ 1.6 million (Lit. 3,174 million) loan due to OAM, respectively, were applied
to subscribe to the Series B preferred stock on February 25, 2000 - See Notes to
financial statements.

The  Company  issued  10,000  shares  with a fair  value of Lit.  91  million in
connection  with its purchase of the 75% of MGI Motorcycle  GmbH that it did not
already own. MGI Motorcycle  GmbH was disposed as part of the sale of motorcycle
operations.

The Company issued 100,000 shares to OAM S.p.A.  upon exercise of a warrant held
by OAM issued in 1999.  The exercise price of $1,000 was settled by reduction of
balances  due by the Company to OAM.  The fair value of this warrant at the date
of issuance of Lit.  1,220  million  been  amortized  from April 1, 1999 through
March 31, 2000 as finance expense.

The Company redeemed all issued and outstanding shares of its Series B Preferred
Stock effective September 30, 2000 with payment being made on the first business
day of October  2000.  The amount  payable  for the  redemption  of lit.  27,044
million  ($12,350,000)  is shown as a separate line item in the balance sheet at
September 30, 2000.



                                       9
<PAGE>


MOTO GUZZI CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

September 30, 2000


1.       BASIS OF PRESENTATION

The accompanying unaudited consolidated condensed financial statements have been
prepared in accordance with the instructions to Form 10-Q.  Certain  information
and footnote  disclosures  normally included in financial statements prepared in
accordance with generally accepted accounting  principles have been condensed or
omitted.  For a summary of the  Registrant's  accounting  principles,  and other
footnote information,  reference is made to the Form 10-K, dated April 26, 2000.
All adjustments necessary for the fair presentation of the results of operations
for the interim periods  covered by this report have been included.  All of such
adjustments are of a normal and recurring nature.  The results of operations for
the  three  and  nine  months  ended  September  30,  2000  are not  necessarily
indicative of the operating results for the full year.

The Company was originally  incorporated in Delaware on August 9, 1995 under the
name of North  Atlantic  Acquisition  Corp.  to serve as a  vehicle  to effect a
merger,   exchange  of  capital  stock,  asset  acquisition  or  other  business
combination  with  an  operating  business.  On  August  27,  1997  the  Company
consummated an initial public  offering  consisting of 800,000 Units and 150,000
shares of Class B Common Stock,  with each Unit consisting of one share of Class
A Common Stock and one warrant to purchase shares of Class A Common Stock, which
resulted in net proceeds to the Company of approximately $8,000,000.

On August 18, 1998, the Company and TRG entered into a definitive  agreement and
plan of merger and reorganization, as amended (the "Merger Agreement"), pursuant
to which Moto Guzzi Corp. merged with and into the Company,  with the Company as
the  surviving  corporation  (the  "Merger").  Prior to the Merger,  TRG and its
majority-owned subsidiary,  OAM, together owned all the outstanding common stock
of Moto Guzzi Corp. The Merger,  which occurred on March 5, 1999, was treated as
a reverse  acquisition of the Company.  The results of operations and cash flows
prior to the date of the merger are those of Moto Guzzi Corp. As the Company had
no operating  activities prior to the Merger, the Merger was not considered as a
business  combination as defined by APB16 and no pro forma information is shown.
Following the Merger,  the Company  adopted the December 31 financial  reporting
year of Moto  Guzzi  Corp.  and  financial  statements  are  prepared  using the
accounting principles of Moto Guzzi Corp.

In September  2000, the Company sold all its operating  subsidiaries  to Aprilia
S.p.A. and changed its name to Centerpoint  Corporation  pursuant to the sale of
its motorcycle operations to Aprilia. See below Note 2 - Discontinued Operations
and Note 3 - Execution and Delivery of Share Purchase Agreement.

The primary  financial  statements  are shown in Italian lire because all of the
Company's  material  operating  entities  were based and  operated in Italy.  At
September 30, the Company's freely available cash and other  significant  assets
were all  denominated  in lire (or  euros).  The  Company  will  evaluate if its
functional currency will continue to be the lire, based on decisions to be taken
as to its  future  activities.  Translation  of lire  amounts  into U.S.  Dollar
amounts is included  solely for the  convenience of the readers of the financial
statements  and  has  been  made  at the  rate of Lire  2,190  to U.S.  $1,  the
approximate exchange rate at September 30, 2000. It should not be construed that
the assets and


                                       10
<PAGE>

MOTO GUZZI CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

September 30, 2000


liabilities,  expressed in U.S. dollar equivalents,  can actually be realized in
or extinguished by U.S. dollars at that or any other rate.



                                       11
<PAGE>

MOTO GUZZI CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

September 30, 2000




2.       DISCONTINUED MOTORCYCLE OPERATIONS

In September  2000, the Company  closed its sale of all "Moto Guzzi"  motorcycle
operations to Aprilia.  From May 2, 2000 through the date of sale,  Moto Guzzi's
operations were under the control of Aprilia management. The measurement date of
the disposal is July 1, 2000, reflecting the latest date prior to sale for which
the Company has complete financial  information.  Net proceeds from the disposal
exceeded  the net assets of the  operations  sold and the Company has recorded a
gain on sale in the third quarter of 2000 of Lit.  66,411  million.  The Company
changed its name to  Centerpoint  Corporation  on September 19, 2000 pursuant to
the sale, which is discussed in more detail in Note 3, below.

Results of the disposed  motorcycle  operations  through the effective  disposal
date of July 1,  2000 and for the nine  months  to  September  30,  2000 were as
follows:


<TABLE>
<CAPTION>
                                                                                              SEP. 30
                                                                  2000           2000           1999
                                                                US$'000         LIT.M          LIT.M
<S>                                                         <C>           <C>            <C>

Net sales ................................................       23,287          50,994        62,923

Loss before taxes ........................................       (3,566)         (7,810)      (13,987)
Provisions for taxes .....................................         (235)           (514)         (165)
                                                               -----------    -----------    -----------
Net loss from discontinued operations of
  Motorcycle operations ..................................  $    (3,801)  Lit.   (8,324) Lit. (14,152)
                                                               ===========    ===========    ===========
</TABLE>

Net  assets/(liabilities)  of  the  discontinued  motorcycle  operations  at the
effective  date of  disposal  of July 1, 2000 and at  December  31, 1999 were as
follows:

<TABLE>
<CAPTION>
                                                                 JULY 1         JULY 1        DEC. 31
                                                                  2000           2000           1999
                                                                 $'000          LIT.M          LIT.M
<S>                                                        <C>            <C>    <C>     <C>
Current assets ...........................................       31,218          68,361         61,926
Property, plant and equipment ............................        5,842          12,792         14,638
Other assets .............................................        1,146           2,510            889
Current liabilities ......................................      (33,265)        (72,844)       (79,385)
Other liabilities ........................................       (4,344)         (9,512)       (10,000)
                                                               -----------    -----------    -----------
Net assets/liabilities of discontinued operations......... $        597   Lit.    1,307  Lit.  (11,932)
                                                               ===========    ===========    ===========
</TABLE>

In 2000 the Company provided the disposed motorcycle  subsidiaries with cash, in
the form of capital and advances, of Lit. 15,941 million (1999 - 13,863 million)
to finance operations through disposal.


                                       12
<PAGE>

MOTO GUZZI CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

September 30, 2000




3.       EXECUTION AND DELIVERY OF SHARE PURCHASE AGREEMENT

On  September  7,  2000,  the  Company  closed on the sale of all its  operating
subsidiaries, Moto Guzzi S.p.A., Moto Guzzi North America Inc, Moto Guzzi France
Sarl,  and MG  Motorcycle  GmbH,  to  Aprilia  S.p.A.  in  accordance  with  the
Preliminary  Purchase  and Sale  Agreement  dated April 14, 2000 as modified and
integrated  by the Letter  Agreement of August 3, 2000. On August 11, 2000, at a
Special Meeting of Stockholders, the Company's stockholders approved the sale of
the operating  subsidiaries  and the change of the Company's  corporate  name to
Centerpoint  Corporation,  with stockholders  holding in excess of two-thirds of
all outstanding  shares of Class A common stock voting for the sale and the name
change.

Total proceeds from the sale were Lit.  79,500  million.  In accordance with the
Share Purchase Agreement Aprilia S.p.A. also paid the Company Lit. 2,074 million
on behalf of the  operating  subsidiaries,  representing  the amount owed to the
Company by the operating  subsidiaries  pursuant to loans made by the Company to
them. In accordance with the Share Purchase Agreement, Lit. 9,375 million of the
total  proceeds was placed in escrow to cover any claims  Aprilia  S.p.A.  might
have in the future in  respect of  representations  and  warranties  made by the
Company in the Share Purchase Agreement.  Subject to any claims Aprilia may have
in respect  of the  Company's  representations  and  warranties,  funds from the
escrow  account  will be  released to the Company in two  tranches:  Lit.  7,000
million is to be released on September 8, 2001; and Lit. 2,375 is to be released
on  September 8, 2007.  Aprilia has  undertaken  to evaluate,  on a best efforts
basis,  an earlier  resolution  of any future claims it may have to funds in the
escrow account.

SIREF S.p.A. and San Paolo Finanziaria  S.p.A., each of which is an affiliate of
Banca d'Intermediazione  Mobiliare IMI S.p.A. ("IMI"), acted as fiduciary agents
for the closing.  In accordance with invoices  submitted to them, they paid IMI,
the Company's financial advisor, 11,401 million, in respect of fees and expenses
claimed by IMI to be due it under their engagement letter, paid Lit. 505 million
to  Carnelutti,  the  Company's  Italian  counsel,  and paid the  balance of the
proceeds of Lit. 60,293 million to the Company.

As noted in the Company's  Proxy  Statement dated July 22, 2000, the Company has
disputed  IMI's  interpretation  of the  fee  calculation  provisions  of  their
engagement letter,  since being advised of this in July of this year. Since that
time the Company has discussed and sought and negotiate with IMI an agreement as
to the proper interpretation of the fee calculation  provisions,  and the amount
of the IMI fee, but was unable to come to agreement  with IMI  concerning  these
items  prior to the  closing.  Although  it appears  that each of the  fiduciary
agents was aware of the fee  dispute,  the Company was advised by the  fiduciary
agents at the closing that IMI had  previously  submitted an invoice to them for
fees and expenses  alleged by IMI to be due to them under the engagement  letter
in the amount of Lit. 11,401 million and that the fiduciary agents had paid such
amount to IMI out of amounts  held in escrow by them.  The Company is  currently
evaluating  possible  courses of action  against IMI and the


                                       13
<PAGE>

MOTO GUZZI CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

September 30, 2000


fiduciary agents, including initiating legal proceedings in Italy and the United
States, to the extent the same are available.


On September 19, 2000,  pursuant to the Share Purchase Agreement and stockholder
approval,  the Company filed an amendment to its Certificate of Incorporation to
change its name to Centerpoint Corporation, effective at the time of filing.

The Lit.  60,293  million  received  by the Company has been and will be applied
firstly to payment of amounts due for  transaction  expenses and other  payables
and obligations  estimated in the aggregate to be  approximately  Lit. 3 billion
and to redeem all  outstanding  shares of Series B  Preferred  Stock for a price
equal to $100 per share plus accrued dividends thereon, for a total principal of
approximately  US$  12.35  million  (approximately  Lit.  27.0  billion  at  the
prevailing  exchange rate). This will leave the Company with  approximately Lit.
29.7 billion in cash and marketable  securities plus rights to amounts due to it
from the escrow  account at the time of release of the Lit.  9,375 million being
held in escrow,  as  described  above,  and  whatever  it realizes on its claims
against IMI described above.  Cash will be invested in short-term fixed interest
securities  pending our evaluation of the alternatives  available to the Company
with respect to such funds.

In connection  with the execution and delivery of the Share  Purchase  Agreement
described above, the Company agreed with OAM, SpA and Trident Rowan Group,  Inc.
by letter  dated  April 14,  2000 (as  amended),  that it will,  as  promptly as
practicable after the closing of the sale of the operating subsidiaries,  but in
no  event  later  than  90  days  following  the  closing,  hold  a  meeting  of
stockholders to consider and vote upon a proposal to liquidate all the Company's
assets and dissolve the Company. This outside date for such shareholders meeting
was subsequently extended by 60 days, to February 7, 2000.

All  holders  of Class A common  stock will have an  opportunity  to vote on any
proposal that the Company be  liquidated.  However,  because OAM owns 58% of the
Class A common stock, it can approve a liquidation even if no other stockholders
vote in favor of it. Conversely,  any proposed  liquidation will not be approved
unless OAM votes in favor of it.  Although OAM and Trident  Rowan  insisted that
the  Company   agree  to  submit  a   liquidation   proposal  to  the  Company's
stockholders,  OAM is not  committed  to vote its shares of Class A common stock
for the  liquidation  proposal.  It is also possible  that OAM,  Trident and the
Company may amend the April 14th letter to modify or remove the requirement that
we hold a  stockholder  meeting  to  consider  and  vote  upon  the  liquidation
proposal.

OAM has advised the Company  that they have not, at this time,  decided how they
will vote with respect to any liquidation proposal.

During the period  between the closing of the sale and any  stockholder  meeting
relating to a liquidation  proposal,  the Company intends to seek to find one or
more other  companies in which to invest  proceeds from the sale. If the Company
is able to do so,  it may  propose  the  acquisition  of, or


                                       14
<PAGE>

MOTO GUZZI CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

September 30, 2000


an investment in, another  company or companies as an alternative to liquidation
at any stockholder meeting called to consider a liquidation proposal.


                                       15
<PAGE>

MOTO GUZZI CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

September 30, 2000


4.       ISSUANCE OF SERIES B PREFERRED STOCK

On February  25,  2000,  the  Company  issued  123,500  shares of a new Series B
Preferred  Stock to Fineco,  and  affiliates  of Fineco,  TRG, OAM, the majority
stockholder of the Company, and Barry Fingerhut and William Spier,  Directors of
the Company, for $100 per share (an aggregate price of $12,350,000).  Fineco and
its affiliates  purchased  60,000 shares and TRG purchased  35,000  shares,  for
cash.  Messrs.  Fingerhut  and  Spier  received  a total  of  12,500  shares  in
satisfaction  of advances they had made to the Company in August 1999 and 16,000
shares were issued to OAM in partial  satisfaction  of outstanding  loans due to
it.

The holders of the Series B Preferred Stock are entitled to receive dividends at
the rate of $7 per share per year before any  dividends  may be paid with regard
to the Class A Common Stock,  and to receive  distribution  of $100 per share in
liquidation of the Company before any  liquidation  distributions  are made with
regard to the Class A Common  Stock.  The  Company  was  required  to redeem the
Series B Preferred  Stock for $100 per share plus accrued  dividends on December
28, 2001. Holders of Series B Preferred Stock do not have voting rights,  except
that they must approve  issuance of  securities  which would affect the Series B
Preferred Stock and the incurrence of debt,  other than  refinancing of existing
debt  or  lines  of  credit  used  by the  Company  to  finance  its  day-to-day
operations.

Each share of Series B Preferred Stock was convertible into Class A Common Stock
at a conversion  price of $5.00,  based upon the  liquidation  preference of the
Series B Preferred Stock ($100, plus accrued dividends, per share), meaning each
share of Series B Preferred Stock is convertible into approximately 20 shares of
Class A Common Stock.

The Company agreed with the Series B preferred  stockholders that, following the
sale to Aprilia,  we would redeem the Series B preferred  stock on September 30,
2000 and they agreed not to convert  their Series B stock if we redeem the stock
by this date. Such redemption was effected, with redemption payments made on the
first business day of October 2000.

The Company  received Lit.  18,329  million in cash,  net of Lit. 516 million of
expenses  in  respect  of the  issue of the  Series B  Preferred  Stock and also
recorded Lit. 2,479 million in respect of the William Spier and Barry  Fingerhut
advances and Lit.  3,174  million in respect of the OAM loan for a total of Lit.
23,982 million.

Upon issuance,  the Company reclassified the Series B preferred stock outside of
shareholders  equity and recorded  accretion  expense of Lit.  3,060  million in
respect of  amortization  of costs and exchange  differences  which arose as the
Company's obligation is denominated in U.S. Dollars.

In connection with issuance of the Series B preferred  stock, the Company agreed
to issue 300,000  shares of Class A common stock to TRG for a purchase  price of
$.01 per share, in consideration of Trident Rowan's  participation in the Series
B financing and their successful efforts to get Fineco,  S.p.A. to subscribe for
Series B shares. These 300,000 shares were issued in July 2000. Additionally, in
connection  with  Fineco's  purchase of the Series B shares the  Company  paid a
commission  of  $180,000 to Andrea  delle  Valle,  a director  of TRG,  and paid
$80,000 to Investec Ernst, where Mark Segall, a director of TRG, is an executive
officer.


                                       16
<PAGE>

MOTO GUZZI CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

September 30, 2000




5.       ACCUMULATED OTHER COMPREHENSIVE INCOME

In 1997, the Financial  Accounting Standards Board (the "FASB") issued Statement
of Financial  Accounting  Standards ("SFAS") No. 130,  "Reporting  Comprehensive
Income", which establishes standards for reporting  comprehensive income and its
components in annual and interim  financial  statements.  In the Company's  case
comprehensive  income  includes  net  income,  translation  difference  from the
conversion of balance sheets of non-Italian  entities and accretion  expense and
related exchange differences related to the potential redemption of its Series B
preferred stock. The Company has chosen to disclose  comprehensive income in the
Consolidated Statements of Stockholders' Equity.

Changes in  components of  accumulated  other  comprehensive  income in the nine
months to September 30, 2000 are as follows.
<TABLE>
<CAPTION>
                                                                             Accretion          Accumulated
                                                         Cumulative         expense and            other
                                                         translation      related exchange     comprehensive
                                                         difference          movements            income
                                                        ---------------    ---------------    ---------------
<S>                                                    <C>                <C>                 <C>

Balance January 1, 2000                                          133       -                           133

Movement for period                                             (535)             (3,062)           (3,597)

Redemption of Series B Preferred Stock                             -               3,062             3,062

                                                        ---------------    ---------------    ---------------

Balance September 30, 2000                                      (402)                  -              (402)

                                                        ===============    ===============    ===============
</TABLE>

5.       EARNINGS/LOSS FROM CONTINUING OPERATIONS PER SHARE

The numerator for the calculation of earnings/(loss)  per common share have been
calculated as follows:
<TABLE>
<CAPTION>
THREE MONTHS TO SEPTEMBER 30, 2000                               SEP 30         SEP 30        SEP. 30
                                                                  2000           2000           1999
                                                                 $'000          LIT.M          LIT.M
<S>                                                             <C>             <C>           <C>

Profit from continuing operations ........................          318             697              -
Preferred Stock dividends ................................         (209)           (458)             -
                                                               -----------    -----------    -----------
Earnings from continuing operations attributable
 to common shareholders ..................................          109             239              -
                                                               ===========    ===========    ===========
</TABLE>

                                       17
<PAGE>

MOTO GUZZI CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

September 30, 2000

<TABLE>
<CAPTION>
NINE MONTHS TO SEPTEMBER 30, 2000                                SEP 30         SEP 30        SEP. 30
                                                                  2000           2000           1999
                                                                 $'000          LIT.M          LIT.M
<S>                                                             <C>             <C>          <C>

Profit from continuing operations ........................         318             697              -
Preferred Stock dividends ................................        (487)         (1,067)             -
                                                               -----------    -----------    -----------
Loss from continuing operations attributable to
  common shareholders                                             (169)           (370)             -
                                                               ===========    ===========    ===========
</TABLE>

Preferred  stock  - See  Note 4 - was  not  dilutive  for the  three  months  to
September 30, 2000.



                                       18
<PAGE>

MOTO GUZZI CORPORATION AND SUBSIDIARIES

MANAGEMENT'S  DISCUSSION  AND  ANALYSIS OF  FINANCIAL  CONDITION  AND RESULTS OF
OPERATIONS

SIGNIFICANT  MATERIAL EVENTS WITH RESPECT TO THE COMPANY THAT IMPACT THE COMPANY
AND  THE  DISCUSSION  SET  FORTH  BELOW  IS  SUBJECT  TO  AND  QUALIFIED  BY THE
INFORMATION  SET FORTH  BELOW IN THE NOTES TO THE INTERIM  FINANCIAL  STATEMENTS
UNDER NOTE 3 - EXECUTION AND DELIVERY OF SHARE  PURCHASE  AGREEMENT AND NOTE 4 -
ISSUANCE OF SERIES B PREFERRED STOCK.

RESULTS OF OPERATIONS FOR THE 3 MONTHS ENDED SEPTEMBER 30, 2000 COMPARED TO 1999

<TABLE>
<CAPTION>
                                                             SEP. 30            SEP. 30
                                                              2000               1999
                                                             LIRE M.            LIRE M.
<S>                                                         <C>                 <C>

INTEREST INCOME                                                  108                  -

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES                     (27)                 -
OTHER INCOME, NET                                                616                  -
                                                           ------------       ------------
NET PROFIT FROM CONTINUING OPERATIONS
  BEFORE INCOME TAXES                                            697                  -

DISCONTINUED OPERATIONS:
  LOSS FROM OPERATIONS OF MOTORCYCLE BUSINESS                      -              (3,753)
   (AFTER INCOME TAX OF LIT. 99 IN 1999)

  GAIN ON DISPOSAL OF MOTORCYCLE BUSINESS                     66,411                  -
   (AFTER INCOME TAX OF LIT. 0)

PREFERRED STOCK DIVIDENDS                                       (458)                 -
                                                           ------------       ------------
NET PROFIT/LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS           66,650              (3,753)
                                                           ============       ============
</TABLE>

On  September  7,  2000,  the  Company  completed  the  sale  of  its  operating
subsidiaries  to Aprilia  S.p.A.  This sale  represents  the  discontinuance  of
motorcycle  operations  which were the company's  only  activities and have been
accounted for as discontinued operations.  The effective accounting date for the
sale is July 1, 2000,  reflecting the last date for which financial  information
on the subsidiaries is available.

Accordingly,  in the third  quarter of 2000,  the Company has recorded  interest
income of Lit. 108 million,  selling general and administrative expenses of Lit.
27 million and positive  exchange  differences of Lit. 616 million as continuing
operations,  representing  the  period  from  September  8, 2000.  The  exchange
differences  relate to the effects of exchange rates on cash balances and escrow
receivables  in lire from the date of sale through  September  30, 2000.  In the
corresponding  period  in 1999,  the  Company  had no income  or  expenses  from
continuing  operations as all its activities related to the disposed  motorcycle
business.

In respect of the discontinued  motorcycle  operations,  in the third quarter of
2000 the Company has recorded a gain on sale of Lit. 66,411  million.  There are
no taxes  payable as the Company  believes  that the proceeds  received are less
than the tax base of the subsidiaries  sold. There is no loss from operations of
the  discontinued  activities  in the  third  quarter  of 2000 as the  effective
accounting  date


                                       19

<PAGE>

was July 1, 2000.  In the  comparison  third  quarter of 1999,  losses  from the
discontinued motorcycle operations were Lit. 3,753 million.

In the third  quarter  of 2000,  Lit.  458  million  is  included  in respect of
dividends payable on the Company's Series B Preferred Stock,  issued in February
2000 to provide bridge finance to the sold subsidiaries. Such Series B Preferred
Stock was redeemed effective September 30, 2000.

RESULTS OF OPERATIONS FOR THE 9 MONTHS ENDED SEPTEMBER 30, 2000 COMPARED TO 1999

Results for the 9 months to  September  2000  compared to 1999  reflect the same
factors as discussed above for the third quarter.

Losses from operations of the discontinued  motorcycle  operations of Lit. 8,324
million  reflect results through the first two quarters of 2000 as the effective
date of the disposal was July 1, 2000.

LIQUIDITY AND FINANCIAL RESOURCES

The Lit. 60,293 million received by the Company from the sale to Aprilia will be
applied  firstly to payment of amounts due for  transaction  expenses  and other
payables and obligations estimated in the aggregate to be approximately Lit. 3.0
billion and to redeem all  outstanding  shares of Series B Preferred Stock for a
price  equal to $100 per  share  plus  accrued  dividends  thereon,  for a total
principal of approximately US$ 12.35 million  (approximately Lit. 27.0 billion).
This will leave the Company  with  approximately  Lit.  29.7 billion in cash and
marketable  securities  plus rights to amounts due to it from the escrow account
at the time of  release of the Lit.  9,375  million  being  held in  escrow,  as
described above, and whatever it realizes on its claims against IMI described in
Note 3 to the interim  financial  statements.  Lit. 28.0 billion of the cash has
been invested in  short-term  fixed  interest  securities  denominated  in Euros
pending evaluation of the alternatives  available to the Company with respect to
such future activities.



                                       20

<PAGE>

PART II  - .......OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

None

ITEM 2.  CHANGES IN SECURITIES

None

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

On August  11,  2000,  at a  Special  Meeting  of  Stockholders,  the  Company's
stockholders  approved  the  sale of the  Company's  operating  subsidiaries  to
Aprilia  SpA and the  change  of the  Company's  corporate  name to  Centerpoint
Corporation,   with  stockholders   holding  in  excess  of  two-thirds  of  all
outstanding  shares  of Class A common  stock  voting  for the sale and the name
change.


ITEM 5.  OTHER INFORMATION

None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

Current report on Form 8-K dated August 11, 2000.



                                       21
<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.


                                                  MOTO GUZZI CORPORATION



November 30, 2000.                                 /s/ Mark S. Hauser
                                                   -------------------
                                                   Mark S. Hauser
                                                   Executive Chairman





November 30, 2000.                                 /s/ Nick Speyer
                                                   --------------------
                                                   Nick Speyer
                                                   Chief Financial officer



                                       22