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

                                    FORM 10-QSB
(Mark One)

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

For the quarterly period ended          September 30, 1998

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the Transition period from                               to

Commission file number   0-28484
                                   QualMark Corporation
                      (Exact name of small business issuer as
                             specified in its charter)

               Colorado                                84-1232688
    (State or other jurisdiction of                (I.R.S. Employer
     incorporation or organization)               Identification No.)

     1329 West 121st Avenue, Denver, CO                     80234
   (Address of principal executive offices)              (Zip Code)

(Issuer's telephone number)        (303) 254-8800


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


     Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 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. 
[ X] Yes          [ ] No




                        APPLICABLE ONLY TO CORPORATE ISSUERS

     State the number of shares outstanding of each of the issuer's classes of
common equity, as of  latest practicable date:

The number of shares of no par value common stock at September 30, 1998 is 
3,485,015.

     Transitional Small Business Disclosure Format (check one):   
[ ] Yes           [ X] No

<PAGE>

                              PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

                                     QUALMARK CORPORATION
                                        BALANCE SHEET
                            (AMOUNTS IN THOUSANDS, EXCEPT SHARES)

<TABLE>
<CAPTION>

                                                  SEPT. 30, 1998
                                                    (UNAUDITED)      DEC. 31, 1997
                                                  --------------     -------------
<S>                                               <C>                <C>
                        ASSETS
Cash                                                 $   947           $   459
Trade accounts receivable, net of allowance for
  doubtful accounts of $21 at September 30, 1998
  and December 31, 1997                                4,317             3,100
Inventories                                            1,104               608
Other current assets                                      55                52
                                                     -------           -------
  Total current assets                                 6,423             4,219

Property and equipment, net                            1,416             1,428
Long-term notes receivable                               103                --
Other assets, net of accumulated amortization
  of $279 and $271, respectively                          98                51
                                                     -------           -------
Total assets                                         $ 8,040           $ 5,698
                                                     -------           -------
                                                     -------           -------

          LIABILITIES & SHAREHOLDERS' EQUITY

Accounts payable                                     $ 1,121           $   646
Customer deposits and deferred revenue                    90                59
Accrued expenses                                       1,662             1,893
Line of credit                                           775                --
Current portion of long term obligations                 207                73
                                                     -------           -------
  Total current liabilities                            3,855             2,671

Noncurrent portion of long term obligations              474               127

Shareholders' Equity:
Common stock; no par value; 15,000,000 shares
  authorized; 3,485,015 and 3,387,134 shares
  issued and outstanding at September 30, 1998
  and December 31, 1997, respectively                  6,391             6,270
Accumulated deficit                                   (2,680)           (3,370)
                                                     -------           -------
  Total shareholders' equity                           3,711             2,900
                                                     -------           -------
Total liabilities and shareholders' equity           $ 8,040           $ 5,698
                                                     -------           -------
                                                     -------           -------

</TABLE>

   The accompanying notes are an integral part of the financial statements.

                                       2

<PAGE>


                              QUALMARK CORPORATION
                             STATEMENT OF OPERATIONS
               (UNAUDITED, AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)

<TABLE>
<CAPTION>
                                                 FOR THE THREE       FOR THE THREE        FOR THE NINE        FOR THE NINE
                                                  MONTHS ENDED        MONTHS ENDED        MONTHS ENDED        MONTHS ENDED
                                                SEPT. 30, 1998      SEPT. 30, 1997      SEPT. 30, 1998      SEPT. 30, 1997
<S>                                             <C>                 <C>                 <C>                 <C>
Net revenue                                             $3,852              $2,892             $10,432              $7,166
Cost of revenue                                          2,077               1,643               5,742               4,171
    Gross profit                                         1,775               1,249               4,690               2,995

Selling, general and administrative expenses             1,203               1,080               3,424               2,974
Research and development expenses                          125                  55                 507                 160
    Income(loss) from operations                           447                 114                 759                (139)

Other income (expense):
    Interest                                               (19)                 (3)                (33)                 24
    Other                                                   --                  (2)                 12                  (8)
Net income(loss) before income taxes                       428                 109                 738                (123)

Provision for income taxes                                  30                  --                  48                  --

Net income (loss)                                         $398                $109                $690                ($123)








Basic earnings(loss) per share                           $0.11               $0.03               $0.20               ($0.04)
Diluted earnings(loss) per share                         $0.11               $0.03               $0.18               ($0.04)

Weighted average shares outstanding                      3,485               3,385               3,439                3,355
Weighted average number of common shares
    plus common stock equvialents                        3,742               3,699               3,902                3,355

</TABLE>













       The accompanying notes are an integral part of the financial statements.

                                          3
<PAGE>


                                                    QUALMARK CORPORATION
                                                  STATEMENT OF CASH FLOWS
                                             (UNAUDITED, AMOUNTS IN THOUSANDS)
<TABLE>
<CAPTION>
                                                                                          FOR THE NINE        FOR THE NINE
                                                                                          MONTHS ENDED        MONTHS ENDED
                                                                                        SEPT. 30, 1998      SEPT. 30, 1997
<S>                                                                                     <C>                 <C>
Cash Flows From Operating Activities:
Net income(loss)                                                                                  $690               ($123)
Adjustments to reconcile net income(loss) to net cash
     from operating activities:
     Depreciation and amortization                                                                 427                 310
Change in assets and liabilities:
     Accounts receivable                                                                        (1,217)             (1,330)
     Inventories                                                                                  (496)                176
     Notes receivable                                                                             (103)                 --
     Other assets                                                                                  (50)                (19)
     Accounts payable and accrued expenses                                                         244                (358)
     Customer deposits and deferred revenue                                                         31                   8
     Net cash used in operating activities                                                        (474)             (1,336)

Cash Flows From Investing Activities:
Acquisition of property and equipment                                                             (415)               (550)
Purchase of short term investments                                                                  --                (200)
Proceeds on sale/redemption of short term investments                                               --               1,911
     Net cash provided(used) by investing activities                                              (415)              1,161

Cash Flow From Financing Activities:
Proceeds from borrowing                                                                          1,265                 200
Proceeds from issuance of common stock                                                             121                 134
Payments on long term obligations                                                                   (9)                (26)
     Net cash from financing activities                                                          1,377                 308

Net increase in cash                                                                               488                 133
Cash at beginning of period                                                                        459                 411
Cash at end of period                                                                             $947                $544

NONCASH FINANCING ACTIVITIES
SUPPLEMENTAL DISCLOSURE
     Interest paid                                                                                 $22                  $6
     Taxes paid                                                                                      4                  --
</TABLE>





       The accompanying notes are an integral part of the financial statements.

                                          4
<PAGE>

                                QUALMARK CORPORATION
                           NOTES TO FINANCIAL STATEMENTS


QualMark Corporation (the Company), was founded in 1991 and is a manufacturer 
of physical stress systems. These systems rapidly and efficiently expose 
product design and manufacturing related failures on its customer's products, 
thereby providing manufacturers the necessary information to improve product 
quality. The Company also operates a network of test centers that its 
customers may use as an alternative, or in addition, to purchasing its 
systems.

NOTE 1 - Financial Presentation

These financial statements should be read in conjunction with the audited 
financial statements for the year ended December 31, 1997 and notes thereto.

The interim financial data as of September 30, 1998 and for the three and 
nine months ended September 30, 1998 and 1997 is unaudited; however, in the 
opinion of management of the Company, the interim data includes all 
adjustments, consisting only of normal recurring adjustments, necessary for a 
fair presentation of the results for the interim periods presented.  Results 
for the three and nine months ended September 30, 1998 are not necessarily 
indicative of results for the remainder of 1998.

NOTE 2 - Inventories

Inventories consist of the following (in thousands):
<TABLE>
<CAPTION>
                                     9/30/98
                                   (unaudited)     12/31/97
                                   -----------     --------
     <S>                           <C>             <C>
     Raw materials                      $503           $457
     Work in process                       -            121
     Finished goods                      601             30
                                   -----------     --------
                                      $1,104           $608
                                   -----------     --------
                                   -----------     --------
</TABLE>

NOTE 3 - Earnings(Loss) Per Share

Basic earnings per share is computed by dividing net income available to 
common shareholders by the weighted average number of shares outstanding 
during the period.  Diluted earnings per                                      

                                       1

<PAGE>

share are computed using the weighted average number of shares determined for 
the basic computations plus the number of shares of common stock that would 
be issued assuming all contingently issuable shares having a dilutive effect 
on earnings per share were outstanding for the period.

Due to the Company's loss from continuing operations in 1997, a calculation 
of earnings per share assuming dilution is not required.  Options and 
warrants to purchase 850,462 shares were not included in the computation of 
earnings per share for the nine-month period ending September 30, 1997 
because including the options would result in an antidilutive effect on 
earnings per share. However, options and warrants to purchase 850,462 were 
included in the computation of earnings per share for the three-month period 
ending September 30, 1997, as the options and warrants would have a dilutive 
effect on earnings. Options and warrants to purchase 838,733 shares are 
included in the computation of earnings per share for the three and 
nine-month periods ending September 30, 1998, as the options and warrants 
would have a dilutive effect on earnings.

NOTE 4 - Litigation

On March 22, 1996, the Company was served with a summons and complaint from 
Screening Systems, Inc. ("SSI"), a competitor.  The complaint, as amended, 
alleges that the Company's vibration system infringes three patents owned by 
Hughes Electronics ("Hughes") and licensed to SSI, and seeks injunctive 
relief, monetary damages and costs of litigation.  Because Hughes would not 
voluntarily join the action as a plaintiff, SSI has named Hughes as a 
defendant in the action.

The Company has been aware of the patents in question since the Company 
commenced its operations and, with advice from patent counsel, designed its 
vibration system, components of which are also patented, so as to not 
infringe the patents.   The Company's vibration system has been used 
continuously in its products since 1991.  On two prior occasions, Hughes put 
the Company on notice that the Company's vibration system might infringe its 
patents, although no litigation was commenced.  On both occasions, the 
Company concluded, after consultation with patent counsel, that infringement 
did not exist and has seen nothing since to change that conclusion. 

Discovery in the action has been completed; however, the trial date has been 
vacated. In April 1997, the Magistrate Judge conducted a "Markman hearing" to 
determine the scope and meaning of the relevant claims and terms of the 
patents-in-suit.  In 

                                       2
<PAGE>

October 1997, the Magistrate Judge issued its Order re Construction of Patent 
Claims.  Based on that Order, the Court has granted the Company summary 
judgment on one of the eight patent claims at issue and has given the Company 
the opportunity to file additional summary judgment motions with respect to 
the other seven claims. In addition, the Court denied SSI's motion for 
summary judgment on one of the three patents and granted SSI summary judgment 
dismissing two of the Company's affirmative defenses. The court has not yet 
set a trial date.

In response to the current litigation, the Company consulted with its current 
legal and patent counsel, who agreed with prior patent counsels' opinions 
that the Company's vibration system does not infringe the SSI patents.  
Consequently, management intends to vigorously defend this litigation.  
However, no assurances can be given that the Company will be successful in 
its defense.  The Company believes that the suit may have a material adverse 
effect on the results of operations and financial condition of the Company in 
terms of legal fees and costs for defending the claim, the possibility of an 
unfavorable outcome and an award of damages, and of the loss of management 
time needed to deal with the suit. 

The Company believes that the legal action by the plaintiff is without merit 
and will continue to vigorously defend itself in these matters.




Item 2.

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


Forward-Looking Statements

The statements contained in this report which are not historical in nature 
are forward-looking statements that are subject to risks and uncertainties 
that could cause actual results to differ materially from those set forth or 
implied by forward-looking statements, including but not limited to the risk 
of an unfavorable outcome in the SSI litigation, variability in order flow 
and operating results, the ability of the Company to find 

                                       3
<PAGE>

and retain qualified personnel to staff its manufacturing and marketing 
operations and existing and anticipated test centers, and the risk that the 
demand for the Company's systems will not continue to grow.

Results of Operations

The Company's annual and quarterly operating results could be subject to 
fluctuations for a variety of reasons.  The Company operates with a small 
backlog relative to its revenue; thus most of its sales in each quarter 
result from orders received in the current or prior quarter.  In addition, 
because prices for the Company's products are relatively substantial, a 
significant portion of net sales for each quarter is attributable to a 
relatively small number of units.

Revenue

Net revenue increased $960,000 (33.2%) for the three months ended September 
30, 1998, as compared with the three months ended September 30, 1997, from 
$2,892,000 to $3,852,000.  Net revenue also increased in the nine-month 
period ended September 30, 1998 as compared with the nine months ended 
September 30, 1997, by $3,266,000 (45.6%), from $7,166,000 to $10,432,000. 

System sales increased $815,000 (38.0%) in the three-month period ended 
September 30, 1998, from $2,143,000 to $2,958,000 as compared to the three 
month period ended September 30, 1997. For the nine-month period ended 
September 30, 1998 system revenue increased $2,417,000 (46.1%) over the same 
nine-month period in 1997, from $5,238,000 to $7,655,000. Unit shipments 
increased from seventeen to nineteen systems in the comparable three-month 
periods ended September 30, 1998 and 1997 and from forty one to fifty three 
systems in the comparable nine-month periods ended September 30, 1997 and 
1998.

Test center revenue for the three months ended September 30, 1998 increased 
$145,000 (19.4%) from $749,000 to $894,000 over the three months ended 
September 30, 1997.  For the nine months ended September 30, 1998, test 
center revenue increased $849,000 (44.0%) from $1,928,000 to $2,777,000 over 
the same period in 1997. The Company operated eight test centers during the 
1998 and 1997 periods. The Company also recognized revenue from a strategic 
alliance test center operation in the U.K. during the three months ended 
September 30, 1998.  The U.K. test center agreement is with TUV Product 
Service GmbH, Munich, Germany, and the relationship requires QualMark to 
provide one of its OVS 2.5 systems, training and marketing assistance in 
exchange for a  share of all future gross revenues from the operation.  The

                                       4
<PAGE>

Company's direct costs for this strategic alliance are being charged to test 
center cost of sales.  The current agreement expires December 31, 1999 and 
the Company expects to renew the agreement before its expiration.

Gross Margin

The gross margin for the three months ended September 30, 1998 was 46.1%.  
This compares to a gross margin of 43.2% for the three months ended September 
30, 1997.  For the nine months ended September 30, 1998, the gross margin was 
45.0% compared to a gross margin of 41.8% in the same nine-month period in 
1997.  The improvement in the gross margin for the three and nine-month 
periods is mostly due to increased capacity utilization in both segments of 
the Company's business.

Operating Expense

General and administrative expenses decreased from $621,000 to $569,000 for 
the three months ended September 30, 1998 compared to the same three-month 
period in 1997.  For the nine months ended September 30, 1998, general and 
administrative costs decreased from $1,780,000 to $1,606,000. The decrease in 
general and administrative expense in the three and nine-month periods is due 
to lower litigation expenses due in part to a reserve that was established in 
1997. The Company believes that the reserve will be sufficient to meet 
litigation expenses for the remainder of the case.

Sales and marketing expenses increased $175,000 from $459,000 for the three 
months ended September 30, 1997 to $634,000 for the three months ended 
September 30, 1998. For the nine months ended September 30, 1998, sales and 
marketing expense increased $624,000 over the same period in 1997, from 
$1,194,000 to $1,818,000.  This increase is primarily due to increases in 
department headcount and associated expenses over the same three and nine 
month periods in 1997.

Research and development costs increased from $55,000 for the three months 
ended September 30, 1997 to $125,000 for the three months ended September 30, 
1998. For the nine-month period ended September 30, 1998, research and 
development cost increased $347,000 from $160,000 for the nine months ended 
September 30, 1997 to $507,000 in the current period.  The increase in cost 
reflects efforts to update and improve reliability of current products and 
for the development of new technology.  The Company expects research and 
development costs to continue at or above such levels throughout 1998.

For the three months ended September 30, 1998, net interest

                                       5
<PAGE>

expense was $19,000. For the nine months ended September 30, 1998, interest 
expense was $33,000. This compares with interest expense in the prior year's 
three-month period ending September 30, 1997 of $3,000 and interest income of 
$24,000 for the nine months ended September 30, 1997, from cash and 
short-term investment balances.  During 1997, the Company's cash balance was 
reduced and its short-term investments were liquidated.

Liquidity and Capital Resources

During the first nine months of 1998 the Company's operations used $474,000 
of cash in operating activities, invested $415,000 for equipment and paid 
$9,000 on long term obligations.  The Company also borrowed $1,265,000 
against a $1,975,000 credit facility with its bank. The two-part facility 
consists of a revolving receivables-based credit line of $1,300,000 and a 
fixed asset-based term loan of $675,000. Options and warrants were exercised 
during the nine-month period for a total net increase in common stock of 
$121,000.  Together, these activities resulted in a cash increase of 
approximately $488,000 to a quarter ending balance of $947,000. 

The Company expects to meet long term liquidity requirements through cash 
flows generated by operations, existing cash balances and by utilizing the 
remaining balance of its credit line with its bank.  The Company is 
dependent, however, on its ability to maintain and grow its systems and test 
center businesses in order to generate adequate operating cash flows.

Year 2000 Issue

During the quarter ended September 30, 1998, management initiated a program 
to prepare the Company's financial, manufacturing, service and other critical 
systems and applications for the Year 2000.  The program involves the 
Company's upper management as well as project leaders from each department. 
The focus of the program is to identify affected software and hardware, 
develop a plan to correct that software or hardware in the most effective 
manner and implement and monitor that plan.  The program will also include 
communications with the Company's significant suppliers and customers to 
determine the extent to which the Company is vulnerable to any failures by 
them to address the Year 2000 issue.  Although the Company's Year 2000 
program is in various stages of completion in each department, the Company 
anticipates it will have all modifications and replacements in place by June 
30, 1999. 

                                       6
<PAGE>

OVS Systems

The Company's OVS products include an embedded controller that have been 
tested and have been determined to be Year 2000 compliant.  The Company 
expects that there will be no Year 2000 issues in regards to its products.

The Company's proprietary OVS operating system software that controls all of 
the products in the OVS product line has been upgraded this year as part of 
an overall product improvement program.  Part of that program ensured that 
the software control system be made Year 2000 compliant.  Management believes 
that this has been achieved. There were no material added costs for this 
compliance. Previous versions of the control system are being investigated 
for compliance issues.  Initial findings do not indicate compliance problems. 
However, the investigation is not complete and will continue with a target 
completion date of December 31, 1998.

Internal Hardware and Software

Each department is currently reviewing all of the software and hardware that 
could affect its operations.  With the exception of the OVS operating system 
software, all software products in use were purchased from Microsoft or other 
major software publishing companies.  Anticipated costs for Year 2000 
compliance for these software package upgrades are considered to be part of 
the Company's normal ongoing business plan and are not expected to add 
materially to the plan. Management has included approximately $23,000 for 
software upgrades in its 1999 plan.

A vast majority of the employees of the Company utilize personal computers in 
their work.  One of the risks identified about the Year 2000 issue is that 
these personal computers may not function or function properly due to the 
internal embedded controllers not being Year 2000 compliant.  The same 
problem may exist in the Company's local network server, wide-area network 
server equipment and the Company's internal telephone system.  Management 
believes that the potential for problems primarily involves older equipment.  
Most of the personal computers and network server equipment have been 
purchased within the last two-years and are believed to be at lower risk 
than the smaller population of older computer equipment in use around the 
Company.  The internal telephone system was purchased from and is supported 
by a leading manufacturer of that type of equipment.  Software to diagnose 
Year 2000 compliance for the personal computers and network servers has been 
identified and procurement is underway.  The cost for this software is less 
than $1,000.  It is unknown at this time how much of this equipment is 
subject to the Year 2000 problem, however a worst-case scenario assumes the 
cost of 
                                       7
<PAGE>

replacing non-compliant equipment to be $105,000. The most-likely scenario of 
replacing affected computer and telephone equipment has not been determined 
at this time.  However, management has included approximately $60,000 in 
computer and telephone system upgrades into its 1999 operating plan.

The Company expects to incur internal staff costs as well as consulting fees 
and other expenses related to the Year 2000 project.  The Company has already 
purchased and installed new accounting and manufacturing control software 
that is Year 2000 compliant. The cost to do this was less than $10,000.  This 
upgrade was done in response to the Year 2000 issue, however this and many 
other upgrades are part of the Company's normal business plan.

External Factors

The Company uses outside service providers for all of its human resource 
administration functions.  This includes payroll and employee benefits 
management.  It is not known, at this time, whether the service provider is 
Year 2000 compliant in regard to the services it provides the Company.  
Management is in the process of verifying compliance in this area and will 
complete the verification before January 1, 1999.  Other service providers 
that are Year 2000 compliant are available if the current provider is not 
able to provide such assurances to the Company.  No material costs are 
expected in this area.

Another area that has been identified as bringing potential problems in Year 
2000 compliance involves key suppliers of inventory materials.  The Company 
utilizes three key vendors as  suppliers in the manufacture of its OVS 
systems. Other than those three vendors, the Company's inventory suppliers 
are commodity or off-the-shelf parts distributors that can be replaced with 
little or no notice.  It is believed that the three critical key-component 
suppliers could be replaced in the event that one or all were determined to 
be subject to critical shipment delays due to Year 2000 issues.  Due to the 
lead times associated with bringing new suppliers on-line, early 
determination of vendor Year 2000 compliance is necessary.  It is not known 
at this time which, if any, vendors are Year 2000 compliant.  Management has 
set a compliance deadline of March 31, 1999 for its key vendors.  If one or 
more of these vendors has not satisfied this requirement, management is 
developing a contingency plan to identify new vendors and prepare them to 
provide the key components to the Company by the end of 1999.  The cost of 
this could include significant amounts of management time but is not expected 
to add materially to the cost of the Company's products. Every attempt will 
be made to ensure that a continuous supply of the key components is 
maintained.

                                       8
<PAGE>

Strategic Alliances

The Company expects to recognize revenue in 1999 and beyond from strategic 
alliances with internationally based testing service companies.  Three of 
these alliances currently exist and more are expected to go into effect 
before January 1, 2000.  The extent to which these alliance companies are 
affected by the Year 2000 issue may affect the revenue that the Company is 
able to recognize from these alliances.  At this time, it is unknown how 
these alliance companies will be affected.  The Company has no control over 
how the alliance companies manage the Year 2000 issue.

Given the information available at this time, management anticipates that the 
cost to address the Year 2000 issue should not have a material adverse effect 
on the Company's liquidity or results of operations.  However, the Company 
continues to gather information regarding the total estimated costs and there 
can be no assurances that these cost will not be material.  




                             PART II OTHER INFORMATION

Item 1    Legal Proceedings

     See Note 4 to Financial Statements.   



Item 6    Exhibits and Reports on Form 8-K.


     (a)  Exhibits - See Index to Exhibits

     (b) Reports on Form 8-K during the quarter ended September 30, 1998
         - none.

                                       9

<PAGE>

                                    SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant 
caused this report to be signed on its behalf by the undersigned, thereunto 
duly authorized.

                                QualMark Corporation



Date:  November 10, 1998     By: /s/ W. PRESTON WILSON
       -----------------     --------------------------------------------
                                   W. Preston Wilson
                                   President, Chief Executive Officer


Date:  November 10, 1998         /s/ VERNON W. SETTLE
       -----------------     --------------------------------------------
                                Vernon W. Settle
                                VP, Finance & Administration
                                Principal Accounting Officer





















                                        10
<PAGE>
                                          
                                          
                                          
                                          
                                 INDEX TO EXHIBITS
                                          
<TABLE>
<CAPTION>
EXHIBIT                                                                             SEQUENTIAL
NUMBER     DESCRIPTION                                                              PAGE NO.
-------    -----------                                                              ----------
<C>        <S>                                                                      <C>
3.1        Amended and Restated Articles of Incorporation of the Company. (1)
3.2        Amended and Restated Bylaws of the Company. (1)
4.1        Form of Certificate for Shares of Common Stock. (1)
4.6        Form of Warrant issued to holders of 10% secured promissory notes. (1)
10.1       QualMark Corporation 1993 Incentive Stock Option Plan. (1)
10.2       QualMark Corporation 1996 Stock Option Plan. (1)
10.3       Employment Agreement dated March 1, 1993 by and between the Company
           and W. Preston Wilson. (1)
10.4       Employment Agreement dated August 15, 1994 by and between the
           Company and J. Wayne Farlow. (1)
10.5       Agreement dated September 30, 1995 by and between the Company and
           Gregg K. Hobbs. (1)
10.8       Addendum to Agreement dated as of December 21, 1995 by and between
           the Company and Gregg K. Hobbs. (1)
10.11      Loan and Security Agreement dated April 30, 1996, by and between
           QualMark Corporation and Silicon Valley Bank, as amended by
           Amendment to Loan and Security Agreement dated August 18, 1997. (2)
27.1       Financial Data Schedule
</TABLE>


(1)    Incorporated by reference from the Company's Registration Statement No.
       333-1454-D on Form SB-2.
(2)    Incorporated by reference from the Company's Quarterly Report on Form
       10-QSB for the quarter ended September 30, 1997.
                                          
                                       11