<PAGE>   1
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                    FORM 10-Q


                Quarterly Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934



  For Quarter Ended November 30, 1999                Commission File
                                                     Number 0-16101




                            INOTEK TECHNOLOGIES CORP.
             (Exact name of registrant as specified in its charter)



               DELAWARE                                      75-1986151
     (State or other jurisdiction of                       (I.R.S.  Employer
     incorporation or organization)                        Identification No.)


    11212 INDIAN TRAIL,  DALLAS, TEXAS                           75229
  (Address of principal executive offices)                     (Zip Code)

        Registrant's telephone number including area code, 972-243-7000.

                                 NOT APPLICABLE
              (Former name, former address and former fiscal year,
                         if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                                                                Yes  X   No
                                                                    ---    ---
4,604,088 shares of common stock, $.01 par value (the issuer's only class of
common stock), were outstanding as of November 30, 1999.



                                      -17-
<PAGE>   2

                            INOTEK TECHNOLOGIES CORP.


                                      INDEX

<TABLE>
<CAPTION>

                                                                                                               Page
                                                                                                                No.
                                                                                                              -------
<S>                                                                                                           <C>
Part I. Financial information

     Item 1. Financial Statements:

        Balance Sheets as of November 30, 1999 (unaudited) and May 31, 1999.......................................1

        Statements of Operation for the Three Months Ended November 30, 1999
           and November 30, 1998 (unaudited) .....................................................................2

        Statements of Operation for the Six Months Ended November 30, 1999
           and November 30, 1998 (unaudited) .....................................................................3

        Statements of Cash Flows for the Six Months Ended November 30, 1999
           and November 30, 1998 (unaudited) .....................................................................4

        Notes to Financial Statements.............................................................................5

     Item 2. Management's Discussion and Analysis of Financial
        Condition and Results of Operations ......................................................................6

Part II.  Other Information

     Item 1. Legal Proceedings....................................................................................7

     Item 4. Submission of Matters to a Vote of Security Holders..................................................7

     Item 6. Exhibits and Reports on Form 8-K.....................................................................7

Signatures     ...................................................................................................8

Index to Exhibits
     Exhibit (20)-Report Furnished to Security Holders............................................................9
</TABLE>



<PAGE>   3

                            INOTEK TECHNOLOGIES CORP.

                                 BALANCE SHEETS

<TABLE>
<CAPTION>

                                                                              NOVEMBER 30            MAY 31
                                                                                 1999                 1999
                                                                              (UNAUDITED)
                                                                              ------------         ------------
<S>                                                                           <C>                  <C>
ASSETS
Current assets:
Cash and cash equivalents                                                     $         --         $    173,668
    Trade receivables, net of allowance for doubtful accounts
        of $101,483 at November 30 and $73,221 at May 31                         2,907,712            2,181,222
    Inventories                                                                  1,409,333            1,409,887
    Deferred taxes                                                                 103,622              103,232
       Income Tax Receivable                                                       304,824              352,120
    Prepaid expenses and other assets                                              204,600               83,913
                                                                              ------------         ------------
Total current assets                                                             4,930,091            4,304,042

Property and equipment, net                                                        706,823              755,400
Goodwill, net of accumulated amortization of $683,200 at
    November 30 and $650,242 at May 31                                           1,958,752            1,991,709
Other assets                                                                        64,665               59,008
                                                                              ------------         ------------

Total assets                                                                  $  7,660,331         $  7,110,159
                                                                              ============         ============

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
    Accounts payable                                                          $  1,722,966         $    927,953
    Accrued expenses                                                               302,612              343,863
                                                                              ------------         ------------

Total current liabilities                                                        2,025,578            1,271,816

Deferred Tax Liability                                                                  --               37,626
Shareholders' equity:
    Common shares, $.01 par value:
        Authorized shares, 10,000,000
        Issued and Outstanding shares
           4,604,088 at November 30 and  4,354,088 at May 31                        46,041               43,541
Additional paid-in-capital                                                       3,367,047            3,299,546
Retained earnings                                                                2,261,045            2,497,010
                                                                              ------------         ------------
Total shareholders' equity                                                       5,674,133            5,840,097

Less:  Common stock in treasury at cost, 100,000 shares in 1999                    (39,380)             (39,380)

                                                                              ------------         ------------
                                                                              $  5,634,753         $  5,800,717


Total Liabilities and Shareholders' Equity                                    $  7,660,331         $  7,110,159
                                                                              ============         ============
</TABLE>

                             See accompanying notes



                                       1
<PAGE>   4

                            INOTEK TECHNOLOGIES CORP.

                             STATEMENTS OF OPERATION

                                   (UNAUDITED)

<TABLE>
<CAPTION>

                                                                       THREE MONTHS ENDED
                                                               ---------------------------------
                                                                NOVEMBER 30          NOVEMBER 30
                                                                   1999                 1998
                                                               ------------         ------------
<S>                                                            <C>                  <C>
Net Sales                                                      $  5,198,049         $  5,678,720
                                                               ------------         ------------

Cost of sales:                                                    3,689,163            4,102,851
                                                               ------------         ------------
Gross margin                                                      1,508,886            1,575,869

Operating expenses:
    Sales and marketing                                             897,366              834,788
    General and administrative                                      647,209              771,212
                                                               ------------         ------------
                                                                  1,544,575            1,606,000
                                                               ------------         ------------
Operating income (loss)                                             (35,689)             (30,131)

Interest expense                                                         --               (4,297)
                                                               ------------         ------------
Earnings before income taxes                                        (35,689)             (34,428)

Income tax provision (benefit)                                      (13,067)               6,597
                                                               ------------         ------------

Net earnings (loss)                                            $    (22,622)        $    (41,025)
                                                               ============         ============

Net earnings (loss) per share - basic and diluted              $       (.01)        $       (.01)
                                                               ============         ============

Weighted average shares outstanding                               4,838,243            4,354,088
                                                               ============         ============
</TABLE>



                             See accompanying notes



                                       2
<PAGE>   5


                            INOTEK TECHNOLOGIES CORP.

                             STATEMENTS OF OPERATION

                                   (UNAUDITED)

<TABLE>
<CAPTION>

                                                                        SIX MONTHS ENDED
                                                               ---------------------------------
                                                                NOVEMBER 30          NOVEMBER 30
                                                                   1999                 1998
                                                               ------------         ------------
<S>                                                            <C>                  <C>
Net  Sales                                                     $  9,486,168         $ 11,180,531
                                                               ------------         ------------

Cost of sales:                                                    6,717,554            8,119,852
                                                               ------------         ------------
Gross margin                                                      2,768,614            3,060,679

Operating expenses:
    Sales and marketing                                           1,794,985            1,727,829
    General and administrative                                    1,276,541            1,399,403
                                                               ------------         ------------
                                                                  3,071,526            3,127,232
                                                               ------------         ------------
Operating income (loss)                                            (302,912)             (66,553)

Interest income (expense)                                             4,837               (8,594)
                                                               ------------         ------------
Earnings before income taxes                                       (298,075)             (75,147)

Income tax provision                                                (62,207)               1,585
                                                               ------------         ------------
Net earnings (loss)                                            $   (235,868)        $    (76,732)
                                                               ============         ============

Net earnings (loss) per share - basic and diluted              $       (.05)        $       (.02)
                                                               ============         ============

Weighted average shares outstanding                               4,838,243            4,418,942
                                                               ============         ============
</TABLE>



                             See accompanying notes



                                       3
<PAGE>   6


                            INOTEK TECHNOLOGIES CORP.

                            STATEMENTS OF CASH FLOWS

                                   (UNAUDITED)

<TABLE>
<CAPTION>

                                                                                                 SIX MONTHS ENDED
                                                                                                    NOVEMBER 30

                                                                                            1999                 1998
                                                                                        ------------         ------------
<S>                                                                                     <C>                  <C>
Operating Activities
   Net earnings                                                                         $   (235,868)        $    (76,732)

   Adjustments to reconcile net earnings to net cash provided by operating
      activities:
         Depreciation and amortization                                                       140,554              117,420
         Deferred taxes                                                                      (38,016)                (424)
         Provision for losses on accounts receivable                                          28,262               22,355
         Provision for inventory obsolescence                                                (80,597)               8,335
         Net changes in operating assets and liabilities:
            Accounts receivable                                                             (754,752)             (65,790)
            Inventories                                                                       81,058               (4,178)
            Prepaid expenses and other assets                                               (120,687)              12,369
            Accounts payable                                                                 795,011              406,577
            Accrued expenses                                                                 (41,251)            (221,503)
            Income tax payable                                                                47,297                   --
                                                                                        ------------         ------------
Net cash provided by operating activities                                                   (178,989)             198,429

INVESTING ACTIVITIES
   Purchase of property and equipment                                                        (58,346)            (111,528)
   Increase in other assets                                                                   (6,333)             (19,169)
   Decrease (increase) in capitalized service inventory                                           --                4,080
                                                                                        ------------         ------------
Net cash used in investing activities                                                        (64,679)            (126,617)

FINANCING ACTIVITIES
   Net change in bank borrowings                                                                  --                   --
   Net increase (decrease) in notes payable                                                       --                   --
     Proceeds from stock issued                                                               70,000                   --
                                                                                        ------------         ------------
Net cash used in financing activities                                                         70,000                   --
                                                                                        ------------         ------------
Change in cash and cash equivalents                                                         (173,668)              71,812
Cash and cash equivalents, beginning of period                                               173,668              362,830
                                                                                        ------------         ------------
Cash and cash equivalents, end of period                                                $         --         $    434,642
                                                                                        ============         ============


SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
   Cash paid during the period for:
         Interest                                                                       $         --         $      8,641
         Income taxes                                                                   $         --         $         --
</TABLE>


                             See accompanying notes



                                       4
<PAGE>   7


                            INOTEK TECHNOLOGIES CORP.
                          NOTES TO FINANCIAL STATEMENTS
                       SIX MONTHS ENDED NOVEMBER 30, 1999
                                   (UNAUDITED)

1.    BASIS OF PRESENTATION

      The accompanying unaudited financial statements have been prepared in
      accordance with generally accepted accounting principles for interim
      financial information and with the instructions to Form 10-Q and Rule
      10-01 of Regulation S-X. Accordingly, they do not include all of the
      information and footnotes required by generally accepted accounting
      principles for complete financial statements. In the opinion of
      management, all adjustments (which include only normal recurring
      adjustments) necessary for a fair presentation of the results for the
      interim periods presented have been made. The results of operations for
      such interim periods are not necessarily indicative of the results of
      operations for a full year. The interim unaudited financial statements
      should be read in conjunction with the financial statements and notes
      thereto included in the Company's Annual Report on Form 10-K filed with
      the Securities and Exchange Commission for the year ended May 31, 1999.

2.    LONG-TERM DEBT

      On September 23, 1999, the Company secured a new agreement with Bank One,
      Texas, N.A. for a one-year revolving credit facility of up to $500,000.
      The credit line provides for borrowings based on the Company's
      receivables, at the bank's prime rate plus one per cent and is secured by
      receivables and inventory.




                                       5
<PAGE>   8



ITEM 2.        MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS

SECOND QUARTER 2000 COMPARED TO SECOND QUARTER 1999

The Company's total sales decreased 8.5% to $5,198,049 for the second quarter
ended November 30, 1999 from $5,678,720 for the second quarter of the prior
year. Sales decreased during the second quarter of fiscal year 2000 as compared
to the second quarter of fiscal year 1999 by $480,671 due primarily to a soft
market. Because of the dramatic downturn in activity in our two key customer
categories - manufacturing and petro-chemical, and the impact of project dollars
being channeled into Y-2K fixes, Inotek endured one of its slowest quarters in
recent memory. The former conditions have begun to correct themselves and
spending for capital projects should resume at normal to higher rates.

Sales and marketing costs during the second quarter of fiscal year 2000
increased 7.5% or $62,578 as compared with the second quarter of the previous
year. General and administrative costs decreased 16.1% or $124,003 during the
second quarter ending November 30, 1999 as compared with the second quarter of
fiscal year 1999.

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

Cash and cash equivalents were $ -0- and $173,668 at November 30, 1999 and May
31, 1999, respectively. At November 30, 1999 the maximum available borrowings
under the revolving credit facility amounted to $500,000. The Company's current
assets exceeded its current liabilities at November 30, 1999 and May 31, 1999 by
$2,904,513 and $3,032,226, respectively.

The Company's funding requirements during the quarter were met through cash on
hand and cash provided by operations. On September 23, 1999, the Company secured
a new agreement with Bank One, Texas, N.A. for a one-year revolving credit
facility of up to $500,000. The credit line provides for borrowings based on the
value of the Company's receivables, at the bank's prime rate plus one per cent
and is secured by receivables and inventory. The Company has no material
commitment for capital expenditures as of November 30, 1999.

YEAR 2000 COMPLIANCE

The Company has reviewed all of its current computer applications with respect
to Year 2000 functionality. The Company believes all of its relevant
applications are Year 2000 compliant and that no material costs with respect to
Year 2000 compliance will be incurred by the Company. The Company is unable to
determine the effects of the Year 2000 issue, if any, on its suppliers and
customers.



                                       6
<PAGE>   9

                           PART II - OTHER INFORMATION


ITEM 1.  LEGAL PROCEEDINGS

None pending

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

None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)  Exhibits:

              1. Exhibit (20)-Report furnished to security holders.

         (b)  Reports on 8-K:

              No reports on Form 8-K were filed in the quarter for which this
report is filed.



                                       7
<PAGE>   10

                                   SIGNATURES

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


                                            INOTEK TECHNOLOGIES CORP.
                                            (REGISTRANT)



Date:  January 14, 2000                     /s/Neal  E. Young
                                            -----------------------------------
                                            (Officer)
                                            Neal  E. Young
                                            Chairman of the board




Date:  January 14, 2000                     /s/Dennis W. Stone
                                            -----------------------------------
                                            (Officer)
                                            Dennis W. Stone
                                            Chief Executive Officer



                                       8
<PAGE>   11


                               INDEX TO EXHIBITS

<TABLE>
<CAPTION>

EXHIBIT
NUMBER              DESCRIPTION
-------             -----------
<S>                <C>
20                  Report furnished to security holders

27                  Financial Data Schedule
</TABLE>