<PAGE>


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                       ----------------------------------

                                    FORM 10-Q

                   Quarterly Report Under Section 13 or 15(d)

                     of the Securities Exchange Act of 1934

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

                For the quarterly period ended September 30, 2000

                         Commission File Number 0-18711

                       ACTRADE FINANCIAL TECHNOLOGIES LTD.
                     (formerly Actrade International, Ltd.)

              Incorporated under the laws of the State of Delaware
               I. R. S. Employer Identification Number 13-3437739


                  7 Penn Plaza, Suite 422, New York, N.Y. 10001
                         Telephone Number (212) 563-1036




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 and 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 [ ]

Indicate the number of Shares outstanding of each of the Issuer's classes of
common stock, as of the latest practicable date. As of October 16, 2000 there
were outstanding 9,026,517 shares of Common Stock, par value $.0001.






<PAGE>









                                                  INDEX


Part I.  Financial Information
<TABLE>
<CAPTION>
                                                                                                   Page

<S>                                                                                                <C>
Item 1.   Consolidated Financial Statements (Unaudited)

     Consolidated balance sheets as of September 30, 2000 and
         June 30, 2000                                                                               3

     Consolidated statements of income for the
         three months ended September 30, 2000 and 1999                                              4

     Consolidated statements of cash flows for
         the three months ended September 30, 2000 and 1999                                          5

      Notes to consolidated financial statements                                                     6

Item 2.   Management's discussion and analysis of financial condition and
             results of operations                                                                   7


Part II.  Other Information


Item 6.  Exhibits and reports on Form 8-K                                                           13



Signatures                                                                                          14

</TABLE>



                                       2






<PAGE>




ACTRADE FINANCIAL TECHNOLOGIES LTD. AND SUBSIDIARIES
(Formerly Actrade International, Ltd.)

CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------
                  Dollars in thousands except per share amounts

                                                                               September 30, 2000      June 30, 2000
                                                                                 (Unaudited)
<S>                                                                              <C>                     <C>
ASSETS
  CURRENT ASSETS:
     Cash and cash equivalents                                                          $6,588           $9,424
     Accounts receivable - trade                                                        25,084           18,202
     Trade acceptance drafts receivable and investment in and due from
        qualifying special purpose entity (net of deferred income
       and allowance for doubtful accounts of $1,385 and $3,544 at
       September  30, 2000 and $1,311 and $3,044 at June 30, 2000)                      33,923           44,717
     Deferred income taxes                                                               1,154              905
     Other current assets                                                                  261              423
                                                                                       -------          -------
         Total Current Assets                                                           67,010           73,671

   PROPERTY AND EQUIPMENT, NET                                                           1,909            1,844

   OTHER ASSETS                                                                            718              401
                                                                                       -------          -------
TOTAL ASSETS                                                                           $69,637          $75,916
                                                                                       =======          =======
LIABILITIES AND STOCKHOLDERS' EQUITY
  CURRENT LIABILITIES:
     Short-term borrowings                                                             $21,042          $32,707
     Accounts payable                                                                      257              373
     Accrued expenses                                                                    2,077            1,557
     Income taxes payable                                                                  865              801
                                                                                       -------          -------
         Total Current Liabilities                                                      24,241           35,438
                                                                                       =======          =======
STOCKHOLDERS' EQUITY:
  Common stock, $0.0001 par value; authorized
       100,000,000 shares, issued and outstanding
       9,399,747 shares and 9,026,517 shares at September  30, 2000 and
       9,332,865 shares and 8,983,695 shares at June 30, 2000                                1                1
     Additional paid-in capital                                                         22,314           21,505
     Retained earnings                                                                  30,535           25,640
     Accumulated other comprehensive income (loss)                                          14               (9)
     Treasury stock at cost; 373,230 shares at September 30, 2000 and
        349,170 shares at June 30, 2000                                                 (7,468)          (6,659)
                                                                                       -------          -------
          Total Stockholders' Equity                                                    45,396           40,478
                                                                                       -------          -------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                             $69,637          $75,916
                                                                                       =======          =======

</TABLE>


See notes to consolidated financial statements.


                                       3






<PAGE>



ACTRADE FINANCIAL TECHNOLOGIES LTD. AND SUBSIDIARIES
(Formerly Actrade International, Ltd.)

CONSOLIDATED STATEMENTS OF INCOME
              (Unaudited)


<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------
             Dollars in thousands except per share amounts

                                                        Three months ended September 30,
                                                     --------------------------------------
                                                                  2000                1999
<S>                                                               <C>                 <C>
Revenue:
          Trade Acceptance Drafts                                 $6,356              $4,073
          International Merchandise Trade                          6,197               2,680
                                                                  ------              ------
Total  Revenue                                                    12,553               6,753
                                                                  ------               -----

Operating Expenses:
          General and administrative                              (2,572)             (2,039)
           Bad debt                                                 (571)               (931)
           Interest, net                                          (3,709)               (922)
                                                                  ------                ----
Total Operating Expenses                                          (6,852)             (3,892)
                                                                  ------              ------
Income before Provision for Income Taxes                           5,701               2,861

Provision for Income Taxes                                          (806)               (353)
                                                                  ------              ------
Net Income                                                        $4,895              $2,508
                                                                  ======              ======

Net Income per Common Share:
Basic                                                              $0.54               $0.29
Diluted                                                            $0.46               $0.29

Weighted Average Number of Shares Outstanding:
Basic                                                          8,992,816           8,528,051
Diluted                                                       10,625,041           8,780,414
</TABLE>

See notes to consolidated financial statements.



                                       4






<PAGE>



ACTRADE FINANCIAL TECHNOLOGIES LTD. AND SUBSIDIARIES
(Formerly Actrade International, Ltd.)

CONSOLIDATED STATEMENTS OF CASH FLOWS
                   (Unaudited)
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------
          Dollars in thousands except per share amounts

                                                                             Three months ended September 30,
                                                                        ----------------------------------------
                                                                                2000                1999
<S>                                                                             <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income                                                                      $4,895             $2,508
  Adjustments to reconcile net income to net cash provided
    by (used in) operating activities:
      Depreciation and amortization                                                  190                 66
      Bad debt expense                                                               571                931
      Deferred income                                                                 74                137
      Income from qualifying special purpose entity                                  (68)              (424)
      Deferred income taxes                                                         (249)                 3
 Changes in operating assets and liabilities:
      Accounts receivable - trade and
       trade acceptance drafts receivable and investment in and
        due from qualifying special purpose entity                                 3,335            (21,811)
     Other assets                                                                   (132)              (634)
     Accounts payable                                                               (116)               640
     Accrued expenses                                                                520                422
     Income taxes payable                                                             64                  4
                                                                                 -------             ------
Net cash provided by (used in) operating activities                                9,084            (18,158)
                                                                                 -------             ------
CASH FLOWS FROM INVESTING ACTIVITIES
     Purchase of property and equipment                                             (255)              (416)
                                                                                 -------             ------
Net cash used in investing activities                                               (255)              (416)
                                                                                 -------             ------
CASH FLOWS FROM FINANCING ACTIVITIES
     Change in short-term borrowings                                             (11,665)            17,996
                                                                                 -------             ------
Net cash provided by financing activities                                        (11,665)            17,996
                                                                                 -------             ------
NET DECREASE IN CASH AND CASH EQUIVALENTS                                         (2,836)              (578)

Cash and cash equivalents, beginning of year                                       9,424              5,199
                                                                                 -------             ------
CASH AND CASH EQUIVALENTS, END OF PERIOD                                          $6,588             $4,621
                                                                                 =======             ======
Supplemental disclosures of cash flow information:
     Interest paid during the period                                              $3,520               $309
                                                                                 =======             ======
     Income taxes paid during the period                                          $1,024               $508
                                                                                 =======             ======
     Exercise of options in exchange for common stock                               $809               $665
                                                                                 =======             ======
</TABLE>


See notes to consolidated financial statements.


                                       5





<PAGE>





              ACTRADE FINANCIAL TECHNOLOGIES LTD. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)
                              Dollars in thousands


1.   Summary of Significant Accounting Policies:

     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. 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 considered necessary for a
     fair presentation have been included. The results of operations for the
     three months ended are not necessarily indicative of the results to be
     expected for the full year. For further information, refer to the
     consolidated financial statements and footnotes thereto included in the
     Annual Report of Actrade Financial Technologies Ltd. (the "Company") and
     subsidiaries on Form 10-K for the fiscal year ended June 30, 2000.

     The consolidated financial statements include the accounts of the Company
     and its subsidiaries. All intercompany balances and transactions have been
     eliminated in consolidation.

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

     The Company has adopted the Securities and Exchange Commission Staff
     Accounting Bulletin No. 101 ("SAB 101") - Revenue Recognition in Financial
     Statements. SAB 101 was issued to provide guidance in applying generally
     accepted accounting principles to the large number of revenue recognition
     issues that registrants encounter. Accordingly, the Company changed the
     income statement presentation of Revenue - International Merchandise Trade
     from reflecting sales and cost of sales to a net basis. In addition, the
     Company will no longer disclose, in the consolidated statements of income,
     Gross Sales - Trade Acceptance Drafts and Gross Sales - International
     Merchandise Trade. The prior period presentation has been changed to
     conform to the current period presentation. The adoption of SAB 101 did not
     have any impact on the net income of the Company.


2. Segment Information:

     The Company's business operations are divided into two principal business
     segments: Trade acceptance drafts program and international merchandise
     trade activities. The Company's business segments are based on business
     units or entities that offer different products and services. They are
     managed separately because each business segment


                                       6




<PAGE>


     requires different strategic initiatives and marketing.

     Revenue, income before provision for income taxes, depreciation and
     amortization, interest expense and total assets for each segment for the
     three months ended September 30, 2000 and 1999 were as follows:


<TABLE>
<CAPTION>
                                                         Three Months Ended
                                                            September 30,
                                                   -----------------------------
                                                     2000                  1999

<S>                                                    <C>                 <C>
Revenue:
  Trade Acceptance Drafts                              $6,356              $4,073
  International Merchandise Trade                       6,197               2,680
                                                      -------              ------
                                                      $12,553              $6,753
                                                      =======              ======

Income before Provision for
  Income Taxes:
  Trade Acceptance Drafts                              $1,615                $849
  International Merchandise Trade                       4,086               2,012
                                                      -------              ------
                                                       $5,701              $2,861
                                                      =======              ======

Depreciation and Amortization:
  Trade Acceptance Drafts                                $186                 $62
  International Merchandise Trade                           4                   4
                                                      -------              ------
                                                         $190                 $66
                                                      =======              ======

Interest Expense:
  Trade Acceptance Drafts                              $2,060                $407
  International Merchandise Trade                       1,690                 524
                                                       ------             -------
                                                       $3,750                $931
                                                       ======             =======

                                            September 30, 2000       June 30, 2000
                                          ---------------------     ----------------
Total Assets:
  Trade Acceptance Drafts                             $24,794             $34,356
  International Merchandise Trade                      44,843              41,560
                                                      -------             -------
                                                      $69,637             $75,916
                                                      =======             =======

</TABLE>



ITEM 2. Management's discussion and analysis of financial condition and results
of operations.

  General Statement - Factors That May Affect Future Results.

     With the exception of historical information, the matters discussed in
     Management's Discussion and Analysis of Financial Condition and Results of
     Operations contain



                                       7





<PAGE>


     forward looking statements under the 1995 Private Securities Litigation
     Reform Act (the "Reform Act") that involve various risks and uncertainties.
     Typically, these statements are indicated by words such as "anticipates,"
     "expects," "believes," "plans," "could," and similar words and phrases.
     Factors that could cause the Company's actual results to differ materially
     from management's projections, forecasts, estimates and expectations
     include but are not limited to, the following:

         o     Changes in the Company's currently available credit facilities;

         o     The inability of the Company to extend or secure additional
               credit facilities to fund the anticipated expansion of sales
               under its E-TAD Program as defined below;

         o     Unexpected economic changes both in the United States and
               overseas;

         o     The imposition of new restrictions or regulations affecting
               either the Company's international merchandise trade activities
               or its E-TAD Program, either in the US or in Canada.

    To the extent possible, the following discussion will highlight the relative
    needs of the Company with respect to both its international merchandise
    trade activities and in connection with the ongoing expansion of its E-TAD
    Program.

           Segment Reporting Disclosures.

    The Company's sales are generated from two major business segments: trade
    acceptance drafts program ("TAD Program"), including the recently introduced
    E-TAD Program and international merchandise trade. For purposes of this
    Report, references to the E-TAD Program include the original TAD Program. A
    TAD is a post-dated payment draft prepared by the seller of goods or
    services ("Supplier") and accepted by the buyer of the goods or services
    ("Buyer") by the Buyer signing and delivering the draft back to the
    Supplier. The E-TAD Program denotes the Company's ongoing plan for all
    aspects of TADs to be processed, marketed, and fulfilled electronically,
    including prospective E-commerce applications. The E-TAD Program is operated
    by Actrade Capital, Inc. ("Capital") in the United States and Actrade
    Capital Canada, Inc. ("Actrade Canada") in Canada. The Company's
    international merchandise trade operations are conducted through Actrade
    International Corp. ("International"), which is engaged in the re-sale of
    American made products to foreign buyers and Actrade S.A., including its
    wholly owned subsidiary Actrade Resources, Inc. ("Resources"), which engage
    in the sale of non-US products to foreign buyers. See discussion immediately
    below.

           Changes in Income Statement Information.

   Beginning with the Company's 10-K Report for fiscal 2000, the Company adopted
   Securities and Exchange Commission Staff Accounting Bulletin No. 101
   ("SAB101") - Revenue Recognition in Financial Statements. In essence, the
   adoption of SAB101 changed the presentation of revenue information on the
   Consolidated Statements of Income of the Company. In conformity with the
   requirements of SAB101, the Company's Consolidated Statements of Income
   simply reflect "Revenues". In the case of Capital, "Revenues" represents the
   net of total TAD originations (i.e. the face amount of



                                       8





<PAGE>


     the TADs purchased by Capital) less the cost of purchasing those TADs.
     Similarly "Revenues" from its International Merchandise Trade activities
     are also reported on a net basis. This change provides uniformity of
     presentation among the Company's two major revenue sectors.

     On a combined basis the term "Revenues" is the equivalent of the amount
     reported as "Gross Profit" in prior periods. All prior period amounts and
     discussions have been changed to reflect the new presentation of revenues.

         The adoption of SAB 101 did not have any impact on the net income of
the Company.



I.   Results of Operations - First Quarter, Fiscal 2001 Compared to First
     Quarter, Fiscal 2000.

     All figures included in the following discussion have been rounded to the
     nearest $1,000 for presentation purposes.

         Revenue:

     For the quarter ended September 30, 2000, the Company had consolidated
     revenue of $12,553,000 as compared to $6,753,000 for the same period in
     fiscal 2000, an increase of 85.9%. This increase resulted from substantial
     revenue increases in each of the Company's business segments as outlined
     below.


     E-TAD Program Revenue

     Revenue for the first quarter of fiscal 2001 from the E-TAD Program totaled
     $6,356,000, as compared to $4,073,000 in the first quarter of fiscal 2000,
     an increase of 56.1%. This increase represents a higher volume of E-TAD
     transactions that management believes were a direct result of the
     accelerated marketing and expansion program begun during the prior fiscal
     year and which continues today. (See also Consolidated Expenses and
     Liquidity and Capital Resources below).

     For the first quarter of fiscal 2001, total TAD originations (representing
     the face amount of all TAD transactions) totaled $83,440,000, as compared
     to $65,360,000 during the first quarter of fiscal 2000.


     International Merchandise Trade Revenue

     Revenue from international merchandise trade during this period climbed to
     $6,197,000, as compared to $2,680,000 in the first quarter of fiscal 2000,
     an increase of 131.2%. This increase was the result of increased product
     sales by Resources, rather than from price increases for the products sold.
     Management attributes the continued growth in



                                       9





<PAGE>




     this business sector to the ability to provide immediate payment to foreign
     suppliers as well as facilitating access to flexible payment terms for the
     buyers. During the first quarter of fiscal 2001, the Company's principal
     overseas markets continued to be (i) South America (ii) Europe, (iii) the
     Pacific Rim and (iv) Middle East.

     See "Consolidated Financial Statements - Note 2, Segment Information" for
     additional information.

     Consolidated Expenses

     General and administrative expenses for the quarter ended September 30,
     2000 were $2,572,000, as compared to $2,039,000 for the same period last
     year, an increase of 26%. The major component of this increase was due to
     $462,000 of additional fees paid in connection with the increased
     international trade revenues noted above as well as increased legal fees.
     The legal fee increase of $277,000 reflects increased litigation costs to
     recover monies from defaulted TAD's. This increase was offset in part by a
     decline in salaries, payroll, and commissions from $1,105,000 in the first
     quarter of fiscal 2000 to $814,000 in the current quarter. This reflected
     cost reductions arising from the closing of Capital's offices in California
     and Georgia and the associated reduction in personnel, offset in part by
     expansion of sales and back-office personnel to support the new E-TAD
     Program.

     With respect to the balance of fiscal 2001, management projects the costs
     related to the E-TAD Program operations will continue to escalate,
     particularly as marketing efforts for the E-TAD Program increase and
     Capital implements its E-Commerce program. However, management believes
     that the impact of these continued increased costs would be outweighed by
     increased revenue as the benefits of the fiscal 2001 business and system
     development mature.

     Bad Debt, Interest Expense and Net Income

     Bad debt expense arises almost exclusively from the TAD business segment.
     International merchandise trade transactions are generally secured and the
     Company has had no history of losses. In the first quarter of fiscal 2001,
     the Company provided for bad debt expense in the amount of $571,000 as
     compared to $931,000 in the first quarter of fiscal 2000. In evaluating bad
     debt, management looks at the adequacy of its allowance for doubtful
     accounts based on the status of individual past due accounts as well as
     estimating the aggregate amount realizable based on aging.

     Management does not believe a meaningful comparison can be made between bad
     debt expense and revenues due to the current presentation in the Company's
     Consolidated Statements of Income. Management does believe that the
     appropriate comparison is between bad debt expense and total TAD
     originations for the period. Although the dollar amount of bad debt expense
     can be expected to increase as total TAD originations increase, when
     expressed as a percentage of total originations, it is expected that bad
     debt expense will decline.



                                       10





<PAGE>



     In the first quarter of fiscal 2001, the Company incurred net interest
     expense of $3,709,000 as compared to $922,000 in the same period last year.
     This increase is due to volume growth in both business segments. Fees and
     other expenses resulting from the ongoing need for new credit facilities
     are expensed as incurred due to the short-term nature of these facilities.
     Interest expense is expected to rise consistent with expected revenue
     growth in both business segments noted above.

     After provision for income taxes, the Company reported net income for the
     first quarter of fiscal 2001 of $4,895,000, or approximately $0.46 per
     share (diluted), as compared to $2,508,000 or $0.29 per share (diluted),
     for the first quarter of fiscal 2000. This represented an increase in net
     income of 95.2% over the same period last year and an increase in earnings
     per share of 58.6% over last year. The tax provision increased from
     $353,000 in the first quarter of fiscal 2000 to $806,000 in the current
     quarter primarily due to increased pre-tax income from the TAD segment.

     TAD  Pre-tax Income

     Pre-tax income attributable to the TAD business segment was $1,615,000 for
     the first quarter of fiscal 2001, as compared to $849,000 for the first
     quarter of fiscal 2000, an increase of just over 90%. Management believes
     that this significant improvement reflects the investment made in the
     expansion of the E-TAD program during fiscal 2000 and that such improvement
     will continue during the balance of fiscal 2001.

     International Merchandise Trade Pre-tax Income

     Pre-tax income for the September 30, 2000 quarter from international
     merchandise trade operations totaled $4,086,000 as compared to $2,012,000
     for the first quarter of fiscal 2000, an increase of just over 103%.
     Management believes that these operations will continue to grow during the
     foreseeable future although no assurance can be given that the rate of
     growth will continue to be sustained.

     II.  Discussion of Financial Condition - Liquidity and Capital Resources

     At September 30, 2000, the Company had working capital of approximately
     $42,769,000 as compared to working capital of $38,233,000 at June 30,2000.
     As of September 30, 2000 the Company had cash and cash equivalents of
     $6,588,000 as compared to $9,424,000 at June 30, 2000. Short-term
     borrowings decreased $11,665,000 from June 30 to September 30, 2000. Such
     changes in working capital, short-term borrowings, and cash and cash
     equivalents resulted from normal variations in the utilization of these
     items by Capital in its operations, and not due to any trend which is
     expected to have a continuing effect upon operations in the future.
     However, consistent with prudent business practice, management attempts to
     minimize cash at Capital so as to reduce short-term borrowings and related
     interest expense.

     At September 30, 2000, Capital had approximately $26.1 million in Surety
     bonds



                                       11







<PAGE>


     guaranteeing payment of E-TADs it had purchased, in addition to $12.5
     million in credit insurance.

     In recent years, the Company has experienced growth in its accounts
     receivable due to the nature of the revenue made by its international
     merchandise trade division. Revenue by International principally involves
     larger, higher priced products. Consequently, the average invoice amounts,
     as well as the average per item cost is relatively high, resulting in
     higher costs as well as higher accounts receivable and payable. On the
     other hand, the revenue generated by Actrade S.A. are from the revenue of
     less expensive foreign made products where the typical margins are much
     lower than for similar American products. These factors continued to
     be true throughout the first quarter of fiscal 2001 and are expected
     to continue for the foreseeable future.

     At September 30, 2000, the Company's total stockholders' equity increased
     to $45,396,000 as compared to $40,478,000 at June 30, 2000. The principal
     source of funds for the Company's operations continues to be revenues
     earned by its operating subsidiaries.

     During the balance of fiscal 2001, the Company projects no significant
     additional capital expenditures in connection with any of the Company's
     international merchandise trade operations. Management plans to utilize
     current cash on hand in connection with its international merchandise
     trading operations principally for (i) general working capital reserves to
     meet any extraordinary or unexpected expenses; (ii) and to finance, if
     required, the Company's trading operations.

     However, in connection with the E-TAD Program, management expects that it
     will have significant additional capital expenditures relating to the
     ongoing expansion of sales and marketing operations, including
     implementation of its E-Commerce initiative.

     At September 30, 2000, there existed four credit facilities with four
     different banks through which the purchase of TADs were financed: a $25
     million securitization facility; $20 million and $40 million credit
     facilities with two financial institutions in the United States; and a CN$5
     million (Canadian) credit facility with a financial institution in Canada.
     In order to sustain a future growth rate comparable to that experienced in
     the past few years, management will need to further expand its credit
     facilities and other means for financing its purchase of E-TADs. Although
     discussions are ongoing with several other financial institutions to add
     additional credit facilities to fund the future expansion of the TAD
     Program, no assurance can be given that such discussions will result in the
     completion of any new financing facilities. However, based upon its
     experience with its present lenders, as well as discussions with other
     financial institutions, management believes that it will be able to secure
     adequate financing to sustain the growth of the TAD Program in the
     foreseeable future.

     Management knows of no other trends reasonably expected to have a material
     impact upon the Company's operations or liquidity in the foreseeable
     future.



                                       12






<PAGE>



     Part II. Other Information


     Item 6.  Exhibits and Reports on Form 8-K

       None during this period.




                                       13







<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.



Dated:  October 30, 2000



ACTRADE FINANCIAL TECHNOLOGIES LTD.

BY: /s/ Joseph P. D'Alessandris
    ------------------------------
    Chief Financial Officer






                                       14