FORM 10-Q
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                   QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     of the Securities Exchange Act of 1934


For Quarter ended January 31, 2000                 Commission file number 0-8006


                             COX TECHNOLOGIES, INC.
                            FKA Energy Reserve, Inc.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

            ARIZONA                                              86-0220617
------------------------------                               -------------------
(State or Other Jurisdiction of                                (IRS Employer
Incorporation or Organization)                               Identification No.)


               69 McAdenville Road, Belmont, North Carolina 28012

       Registrant's telephone number, including area code (704) 825-8146


Energy Reserve, Inc., 2432 W. Peoria Avenue, Suite 1181, Phoenix, Arizona 85029
--------------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last report


Indicated  by check  mark  whether  the  registrant  (1) has filed  all  reports
required to be filed by section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant  was required to file such  reports) and (2) has been subject to such
filing requirements for the past 90 days.  Yes [X]  No [ ]

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                  PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicated  by check mark  whether the  registrant  has filed all  documents  and
reports  required  to be filed by  Sections  12, 13, or 15(d) of the  Securities
Exchange Act of 1934 subsequent to the  distribution of securities  under a plan
confirmed by a court. Yes [X] No [ ]

                       APPLICABLE ONLY TO CORPORATE USERS:

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date.

                    Class - Common Stock, without par value
                23,618,261 Shares Outstanding at January 31, 2000
<PAGE>
                     COX TECHNOLOGIES, INC. AND SUBSIDIARIES
                                      INDEX


FACE SHEET                                                                   1

INDEX                                                                        2

PART I.  FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS                                                3

   Consolidated Balance Sheets at
       January 31, 2000 and April 30, 1999                                   4

   Consolidated Statements of Operations and Accumulated Deficit
       Three Months Ended January 31, 2000 and 1999                          5
       Nine Months Ended January 31, 2000 and 1999                           6

   Statement of Cash Flows
       Nine Months Ended January 31, 2000 and 1999                           7

   Notes to Consolidated Financial Statements                                8


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
         FINANCIAL CONDITION AND RESULTS OF OPERATIONS                      9-13

PART II. OTHER INFORMATION AND SIGNATURE                                   14-15

                                       2
<PAGE>
                              FINANCIAL INFORMATION

                     COX TECHNOLOGIES, INC. AND SUBSIDIARIES


                         PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

Cox Technologies,  Inc. and its subsidiaries,  Twin Chart,  Inc., its subsidiary
Transit Services,  Inc., Vitsab,  AB, Sweden,  Vitsab,  Inc.,  (collectively the
Company),   engage  in  the  business  of  producing  and  distributing  transit
temperature  recording  instruments,  both  domestically  in United  States  and
internationally.  The Company also engages in acquiring,  developing and selling
oil  properties,  and in producing  and selling crude oil for its own account in
the United States.  As such the Company has not and does not engage in petroleum
refining or retail marketing.

The Consolidated  Financial Statements included herein have been prepared by the
Company,  without audit, pursuant to the rules and regulations of the Securities
and Exchange  Commission.  Certain information and footnote disclosures normally
included in financial  statements prepared in accordance with generally accepted
accounting  principles have been condensed or omitted pursuant to such rules and
regulations,  although the Company believes that the disclosures are adequate to
make the  information  presented  not  misleading.  It is  suggested  that these
condensed  financial  statements  be  read in  conjunction  with  the  financial
statements  and data notes thereto  included in the  Company's  annual report on
Form 10-K, for the year ended April 30, 1999.

In the opinion of the Company,  all  adjustments  have been  included  which are
necessary for the  preparation of the balance sheets of Cox  Technologies,  Inc.
and  consolidated  subsidiaries  at January 31, 2000 and April 30, 1999 and to a
fair  statement of the results of operations  for the three months ended January
31, 2000 and 1999 and for the nine months ended January 31, 2000 and 1999.

                                        3
<PAGE>
                     COX TECHNOLOGIES, INC. AND SUBSIDIARIES
               (FORMERLY, ENERGY RESERVE, INC., AND SUBSIDIARIES)
                           CONSOLIDATED BALANCE SHEETS
                       JANUARY 31, 2000 AND APRIL 30, 1999

                                                    January 31,      April 30,
                                                       2000            1999
                                                   ------------    ------------
                                     ASSETS
CURRENTS ASSETS:
 Cash and cash equivalents (Note A)                $  1,323,453    $  1,250,810
 Accounts receivable, less allowance
   for doubtful accounts of $29,527 at
   January 31, 2000 and April 30, 1999                1,527,868       1,599,079
 Inventory (Note B)                                   1,471,142       1,542,663
 Investment in securities                                                51,211
 Notes receivable-current portion                        17,993          30,477
 Prepaid expenses                                        46,409          65,860
                                                   ------------    ------------
TOTAL CURRENT ASSETS                                  4,386,865       4,540,100

 Property and equipment (net)                         7,420,062       7,109,762
 Investments in securities                              584,950         300,000
 Patents                                                106,250               0
 Deposits                                               144,497          23,692
 Goodwill (Note A)                                      817,247         886,783
 Notes receivable - non-current portion                 105,567          16,855
                                                   ------------    ------------
TOTAL ASSETS                                       $ 13,565,438    $ 12,877,192
                                                   ============    ============

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
 Accounts payable and accrued expenses             $    365,116    $    582,542
 Income taxes payable (Note C)                            2,932          34,720
 Current portion of long-term debt (Note A)           2,286,060       1,651,949
                                                   ------------    ------------
TOTAL CURRENT LIABILITIES                             2,654,108       2,269,211

 Long-term debt                                       1,003,413         581,374
 Minority Interest                                          669             669
                                                   ------------    ------------
TOTAL LIABILIATIES                                    3,658,190       2,851,254
                                                   ------------    ------------

COMMITMENTS AND CONTINGENCIES (Note D)

STOCKHOLDERS' EQUITY
 Common stock, no par value: authorized 100,000,000
  shares; issued and outstanding 23,618,261 shares
  at January 31, 2000 and 23,618,261 shares at
  April 30, 1999 (Note A)                            20,306,098      20,306,098
 Common stock subscribed                                 58,100          58,100
 Contributed Capital                                    461,511         420,982
 Treasury stock                                               0         (45,920)
 Accumulated deficit                                (10,864,427)    (10,667,609)
 Less - notes receivable for common stock:
        Subscribed                                      (54,034)        (45,713)
                                                   ------------    ------------
TOTAL STOCKHOLDERS' EQUITY                            9,907,248      10,025,938
                                                   ------------    ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY         $ 13,565,438    $ 12,877,192
                                                   ============    ============

See notes to Financial Statements

                                        4
<PAGE>
                     COX TECHNOLOGIES, INC. AND SUBSIDIARIES
          CONSOLIDATED STATEMENTS OF OPERATIONS AND ACCUMULATED DEFICIT

                                                  Three Months Ended January 31,
                                                  ------------------------------
                                                      2000             1999
                                                  ------------     ------------
REVENUE
   Sales                                          $  2,483,773     $  2,291,382
                                                  ------------     ------------

COSTS AND EXPENSES
  Cost of sales                                      1,498,743        1,152,941
   General and administrative expenses                 791,848          800,452
   Sales expense                                       410,010          350,985
   Interest expense                                     39,627           30,888
   Depreciation and depletion                           32,496           59,081
                                                  ------------     ------------
   TOTAL EXPENSE                                     2,772,724        2,394,347
                                                  ------------     ------------

          INCOME FROM OPERATIONS                      (288,951)        (102,965)
                                                  ------------     ------------
OTHER INCOME (EXPENSE)
   Other income (expense)                               25,058           58,212
                                                  ------------     ------------

 Earnings (loss) before income taxes                  (263,893)         (44,753)
 Provisions for income taxes (note B)                   23,146          (34,000)
                                                  ------------     ------------

          NET EARNINGS (loss)                         (287,039)         (10,753)

ACCUMULATED DEFICIT, beginning of period           (10,577,388)     (10,169,113)
                                                  ------------     ------------

ACCUMULATED DEFICIT, end of period                $(10,864,427)    $(10,179,866)
                                                  ============     ============
EARNINGS PER SHARE:
    Net earnings (loss)                           $      (0.02)    $     (0.002)
                                                  ============     ============

See Notes to Financial Statements

                                        5


<PAGE>
                     COX TECHNOLOGIES, INC. AND SUBSIDIARIES
          CONSOLIDATED STATEMENTS OF OPERATIONS AND ACCUMULATED DEFICIT


                                                   Nine Months Ended January 31,
                                                  ------------------------------
                                                      2000             1999
                                                  ------------     ------------
REVENUE
   Sales                                          $  7,153,919     $  6,912,770
                                                  ------------     ------------
COSTS AND EXPENSES
   Cost of sales                                     4,020,336        3,460,477
   General and administrative expenses               2,031,201        1,986,904
   Sales expense                                     1,117,203        1,061,098
   Interest expense                                    128,177          108,408
   Depreciation and depletion                           86,421          134,403
                                                  ------------     ------------
   TOTAL EXPENSE                                     7,383,338        6,751,290
                                                  ------------     ------------

          INCOME FROM OPERATIONS                      (229,419)         161,480

OTHER INCOME (EXPENSE)
   Other income (expense)                               58,747         (264,723)
                                                  ------------     ------------
  Earnings (loss) before income taxes                 (170,672)         425,753
  Provisions for income taxes (note B)                  26,146            6,900
                                                  ------------     ------------

NET EARNINGS                                          (196,818)         418,853

ACCUMULATED DEFICIT, beginning of period           (10,667,609)     (10,598,719)
                                                  ------------     ------------
ACCUMULATED DEFICIT, end of period                $(10,864,427)    $(10,179,866)
                                                  ============     ============
EARNINGS PER SHARE:
   Net earnings (loss)                            $      (0.01)    $       0.02
                                                  ============     ============

See notes to Financial Statement

                                        6
<PAGE>
                     COX TECHNOLOGIES, INC. AND SUBSIDIARIES
                             STATEMENT OF CASH FLOWS


                                                   Nine Months Ended January 31,
                                                   -----------------------------
                                                       2000             1999
                                                   -----------      -----------
CASH FLOW FROM OPERATING ACTIVITIES
  Net earnings (loss)                              $  (196,818)     $   418,853
  Adjustments to reconcile net earnings
      to net cash used by operating activities:
  Depreciation and depletion                            86,421          134,404
  Loss on securities                                         0          180,500
  Allowance for doubtful accounts                         (140)               0

CHANGES IN CURRENT ASSETS AND CURRENT LIABILITIES
  (Increase) decrease in current assets:
    Accounts receivable                                 71,351           10,397
    Inventory                                           71,521         (582,548)
    Prepaid expenses                                    19,451          237,175
    Notes receivable and investments                   (76,228)         (81,884)
    Deferred taxes                                           0           30,000
  (Increase) decrease in current liabilities:
    Accounts payable and accrued expenses             (249,214)         288,799
    Current portion of long-term debt                        0          722,184
                                                   -----------      -----------
NET CASH FROM OPERATING ACTIVITIES                    (273,656)       1,357,880
                                                   -----------      -----------
CASH FLOW FROM INVESTING ACTIVITIES
  Patents                                             (106,250)               0
  Securities                                          (233,738)         300,000
  Goodwill                                              32,696       (1,239,941)
  Purchase of property and equipment                  (359,881)      (3,062,351)
  Repurchase minority interest                               0             (669)
                                                   -----------      -----------
NET CASH FROM INVESTING ACTIVITIES                    (667,174)      (4,002,961)
                                                   -----------      -----------
CASH FLOW FROM FINANCING ACTIVITIES
  Long term debt                                     1,056,150          504,510
  Decrease in subscriptions receivable                  (8,321)           3,037
  Issuance Common stock                                      0          843,933
  Sale of Treasury stock                                86,449                0
  Deposits                                            (120,805)           1,248
                                                   -----------      -----------
NET CASH FROM FINANCING ACTIVITIES                   1,013,473        1,352,728
                                                   -----------      -----------

NET INCREASE (DECREASE) IN CASH                         72,643       (1,292,353)

CASH, beginning of period                            1,250,810        2,575,945
                                                   -----------      -----------

CASH, end of period                                $ 1,323,453      $ 1,283,592
                                                   ===========      ===========

See notes to Financial Statement

                                        7
<PAGE>
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                         QUARTER ENDED JANUARY 31, 2000

NOTE A - CASH, NOTES PAYABLE AND COMMON STOCK

In June 1998, the Company acquired Vitsab, AB, a Swedish corporation in exchange
for  3,375,734  shares of the  Company's  unregistered  common  stock  valued at
$843,933  or $0.25 per share and 950,000  shares of the common  stock of Vitsab,
USA,  Inc., a previously  wholly-owned  subsidiary of the Company with 4,750,000
issued shares of common stock  outstanding and the assumption of certain debt in
the amount of $2,300,000 owed by Vitsab, AB to an unrelated company. The company
borrowed  $1,750,000  from a bank under two notes and  security  agreements  and
liquidated the referenced $2,300,000 for the discounted sum of $1,750,000.

The Company has pledged a  $1,000,000  certificate  of deposit  with the lending
bank as collateral for the  $1,750,000  borrowed  funds.  The loans were due and
payable  within one year from June 1998.  Under terms of the notes and  security
agreements  the Company was  obligated to make eleven (11)  monthly  payments of
$19,258.01  and one (1) final payment of all  outstanding  principal and accrued
interest due February 10, 2000. The bank extended the monthly  payments  through
September 1999 and in September 1999  subsequent to the date of this January 31,
2000 Report, the Company refinanced its' indebtedness as follows:

     a)   consolidatd the unpaid balance on the $1,750,000 loan with,

     b)   an additional loan of $500,000 and,

     c)   arranged for monthly interest only payments of $4,479 to the bank with
          a maturity date of February 10, 2000 for the consolidated indebtedness
          with,

     d)   the  understanding  the  consolidated  loan would be  reviewed  at the
          maturity date for conversion to a long-term  indebtedness  if not paid
          or  assumed  through  an  equity  financing  of the  Vitsab  corporate
          structure independent of Cox Technologies, Inc.

On March 6, 2000 the bank amended the maturity date of the aggregate  $2,250,000
of loans  until  July 5, 2000.  As noted  herein,  a portion  of this  amount is
secured by a $1,000,000 certificate of deposit with the lending bank.

The  debt/equity  financing  previously  announced  by the  Company on  February
16,2000 was funded on March 13, 2000 in the aggregate amount of $2,500,000.  The
financing was accomplished  under a Note Purchase Agreement dated March 10, 2000
with Technology Investors, LLC of Mooresville, NC as follows:

     1.   10% Senior Subordinated  Convertible Promissory Note due 2005Principal
          and compounded  interest  payable in arrears at maturity with optional
          prepayment after March 10, 2002

     2.   The right to convert the unpaid  principal  and accrued  interest into
          restricted common stock shares of the Company at any date prior to the
          maturity date of the promissory note at a conversion price of $1.25

                                        8
<PAGE>
NOTE A - CASH, NOTES AND COMMON STOCK (CONTINUED)

Additionally,  the Company  entered into Agreements with the two managers of the
LLC, Kurt C. Reid and Brian D. Fletcher as follows:

     1.   A consulting  agreement with both individuals for financial policy and
          enforcement,  business  strategy and equity value  enhancement for the
          sum of $1 each,  per annum and a ten year option to  purchase  300,000
          shares each of the common stock of the Company at $1.25 per share.

     2.   Both  individuals  to be appointed as interim  members to the Board of
          Directors  of the  Company  which will be caused to be  expanded  to 7
          members.

     3.   Granted  to  both  collectively,  a  Convertible  Note  Option  for an
          aggregate  $500,000  financing under identical terms as the 10% Senior
          Convertible  Note Agreement  with the LLC (except for the  origination
          and maturity dates). The Option shall expire on September 10,2000.

In February 2000, the Company issued 204,000  restricted  shares of common stock
to various unrelated entities for an aggregate $296,640.

NOTE B - INVENTORY

Inventory at January 31, 2000 and April 30, 1999 consists of the following:

                                          January 31, 2000      April 30, 1999
                                          ----------------      --------------
      Raw materials                           $  413,186         $  367,752
      Work-in-progress                           313,433            315,690
      Finished goods                             739,567            859,221
      Crude oil                                    4,956                  0
                                              ----------         ----------
                                              $1,471,142         $1,542,663
                                              ==========         ==========

NOTE C - INCOME TAXES

The company and its subsidiaries  file  consolidated  Federal income tax returns
and separate State income tax returns.  The Company's provision for income taxes
is determined  after  application  of a portion of its net operating  loss carry
forward.  As of January 31, 2000 the Company's  unused net operating  loss carry
forward was approximately $9,581,886.

NOTE D - COMMITMENTS AND CONTINGENCIES

There have been no changes in the disclosures of commitments,  contingencies and
litigation  as contained in the  Company's  annual report Form 10-K for the year
ended April 30, 1999.

                                        9
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

LIQUIDITY AND CAPITAL RESOURCES

At January 31, 2000 the Company had a working capital of $1,732,757.  This is an
decrease of $538,132 for the nine months period May 1, 1999 to January 31, 2000.
The Company did incur  increased  long-term debt of $422,039  during the year to
date and investment in property and equipment  increased  $310,300.  At present,
cash  flow  from  operations  is  adequate  to meet  the cash  requirements  and
commitments  of the Company.  However,  as previously  stated  elsewhere in this
report in Note A of Notes to  Consolidated  Financial  Statements,  the  Company
entered into a Note Purchase  Agreement in March 2000 with a North Carolina LLC.
The aggregate  amount of the  long-term  debt/equity  financing was  $2,500,000,
which was funded on March 13, 2000.  The Company plans to enter into  additional
equity, debt or other financing  arrangements to meet its future financial needs
for expansion and:

     (a)  To provide for general  working  capital needs including the servicing
          of the Vitsab, AB, acquisition debt and operations

     (b)  To repay outstanding liabilities

COMPARISON OF OPERATIONS FOR THIRD QUARTER ENDED JANUARY 31, 2000 AND 1999

Net loss for the third  fiscal  quarter  ended  January 31, 2000 was $287,039 as
compared to a net loss of $10,753 for the same period  ended  January 31,  1999.
The loss from  operations  for the third  quarter  ended  January  31,  2000 was
$288,951 as compared to income of $319,431 for the prior year similar quarter.

                                       10
<PAGE>
COMPARISON OF OPERATIONS FOR THIRD QUARTER - CONTINUED

The following schedule reflects the operations of the three industry segments of
the Company for the fiscal quarters ended January 31, 2000 and 1999.

<TABLE>
<CAPTION>
                                                      Three Months Ended January 31,
                               ---------------------------------------------------------------------------
                                  2000         1999          2000        1999         2000         1999
                               Recorders     Recorders        Oil         Oil        Vitsab       Vitsab
                               ----------   -----------    --------    ---------    ---------    ---------
<S>                            <C>          <C>            <C>         <C>          <C>          <C>
Revenue:
   Sales                       $2,480,995   $ 2,287,632    $  2,778    $       0    $       0    $   3,750
Costs and Expenses
   Cost of sales                1,147,721       989,337       9,021        4,140      342,001       59,500
   General & administrative       742,227       737,532      49,621       53,063            0            0
   Sales expense                  410,010       350,985           0            0            0            0
   Interest                         1,656         1,284           0            0       37,971       39,461
   Depreciation & depletion        20,217        63,081           0            0       12,279       (4,000)
                               ----------   -----------    --------    ---------    ---------    ---------

Income (loss) operations          159,164       145,413     (55,864)     (57,167)    (392,251)    (191,211)
Other income (expense)             25,207      (126,230)       (149)     183,692            0          750
                               ----------   -----------    --------    ---------    ---------    ---------
Earnings before income taxes      184,371        19,183     (51,141)     184,378     (310,517)    (249,732)
Income taxes                       23,146       (27,134)          0        6,866            0            0
                               ----------   -----------    --------    ---------    ---------    ---------

Net earnings (loss)            $  161,225   $    46,317    $(56,013)   $ 133,391    $(392,251)   $(190,461)
                               ==========   ===========    ========    =========    =========    =========
</TABLE>

TEMPERATURE RECORDER OPERATIONS

Sales  increased  $193,363 or 8.5% for the third quarter 2000 as compared to the
same fiscal period of 1999. This resulted in an improvement of $13,751 in income
from operations.

The Company is currently developing a new temperature logger that is expected to
be more  functional and complete than  presently  available  logger  technology.
Management  anticipates the initial  marketing of this product before the end of
the current fiscal year ending April 30, 2000.

Except for cost of sales and  depreciation,  all categories of expense  remained
fairly static as a percentage ratio to sales.

Cost of sales was 46.3% of sales for the  current  quarter as  compared to 43.2%
for the prior year period.  This was due primarily to increased  labor costs and
repairs.

                                       11
<PAGE>
OIL PRODUCTION OPERATIONS

As discussed in the Company's annual report,  Form 10-K for the year-ended April
30,  1999,  the oil  field  operations  are  being  operated  under  a  farm-out
arrangement  with an experienced  operator.  The costs to the Company for direct
oil field  operations  consist  primarily  of property  taxes and field  liaison
costs. The Company began receiving revenue from its oil production operations in
the third fiscal quarter of the current fiscal year.

Other  income  of  $183,692  last  year  was  realized  from the  settlement  of
indebtedness at less than the recorded liability.

VITSAB OPERATIONS

This business segment was acquired in June 1998 and operations consist mainly of
marketing,  production and product  development.  The Vitsab operations are more
fully disclosed in the Company's Form 10-K for the year-ended April 30, 1999.

Cost of sales expenditures  represent costs of operations for both Malmo, Sweden
and Belmont,  North Carolina  operations.  The net loss of the operation for the
three  months  period of the current  year was  $201,790  greater  than the same
period of the prior year.

Cost of sales,  which  represents  development and production  costs,  increased
$182,501  or 114.4% in the  current  period as  compared to the same period last
year.

Management  anticipates  Vitsab sales  activity  prior to the end of the current
fiscal year ending April 30, 2000.

                                       12
<PAGE>
COMPARISON OF OPERATIONS FOR THE NINE  MONTHS ENDED JANUARY 31, 2000 AND 1999

There was a  consolidated  loss of  earnings of  $196,818  for the period  ended
January 31,  2000,  as compared to a net earning of $418,853 for the same period
ended January 31, 1999. To afford better  analysis and comparison of the similar
periods of 2000 and 1999,  the following  schedule  segregates the operations by
industry segments and provides a comparison of the oil production operations and
the temperature recorder operations.

<TABLE>
<CAPTION>
                                                      Nine Months Ended January 31,
                               ---------------------------------------------------------------------------
                                  2000         1999          2000        1999         2000         1999
                               Recorders     Recorders        Oil         Oil        Vitsab       Vitsab
                               ----------   -----------    --------    ---------    ---------    ---------
<S>                            <C>          <C>            <C>         <C>          <C>          <C>
Revenue:
  Sales                        $7,151,141   $ 6,906,020    $   2,778    $      0   $   2,000    $   6,750
Cost and Expenses
  Cost of Sales                 3,306,240     3,090,587       13,521       7,390     619,843      362,500
  General & administrative      1,880,161     1,856,785      151,040     120,262      80,732            0
  Sales                         1,117,203     1,061,098            0           0           0            0
  Interest                         14,266        13,412            0       9,857     113,911       94,996
  Depreciation & depletion         51,581       113,403            0           0      36,840       21,000
                               ----------   -----------    ---------    --------   ---------    ---------

Income (loss) operations          781,690       770,735     (161,783)    137,509    (849,326)    (471,746)
Other income (expense)             58,144      (158,873)         603     422,396           0          750
                               ----------   -----------    ---------    --------   ---------    ---------
Earnings before income taxes      839,834       611,862     (161,180)    284,887    (849,326)    (470,996)
Income taxes                       26,146             0            0       6,900           0            0
                               ----------   -----------    ---------    --------   ---------    ---------

Net earnings                   $  813,688   $   611,862    $(161,180)   $277,987   $(849,326    $(470,996)
                               ==========   ===========    =========    ========   =========    =========
</TABLE>

* Vitsab 1999 operations covers only seven (7) months.

TEMPERATURE RECORDER OPERATIONS

Sales increased by $245,121 for the current nine-month period as compared to the
same period last year. Net income improved by $201,826.

Cost of sales was 46.2% of sales for the current period as compared to 44.8% for
last year. General and  administrative  expense increased $23,376 as compared to
last year. As a percent of sales,  such expenses were 26.2% as compared to 26.8%
last year.

Sales  expenses  increased  $56,105.  As a percent of sales,  such expenses were
15.6% for the current period and 15.4% for last year.

                                       13
<PAGE>
COMPARISON OF OPERATIONS FOR NINE MONTHS ENDED JANUARY 31, 2000 AND 1999
(CONT'D)

OIL PRODUCTION OPERATIONS

As discussed in the Company's annual report,  Form 10-K for the year-ended April
30,  1999,  the oil  field  operations  are  being  operated  under  a  farm-out
arrangement  with an experienced  operator.  The costs to the Company for direct
oil field  operations  consist  primarily  of property  taxes and field  liaison
costs. The Company began receiving revenue from its oil production operations in
the third fiscal  quarter of the current  fiscal year.

The  increase  in  general  and  administrative  expenses  of $30,778 in 2000 as
compared to 1999 was due to costs and expenses  associated with the Company's CT
Telecom division which is being operated from the Phoenix office and is included
under the oil  productions.  The CT Telecom  division is  developing  a computer
software  operating  system that is expected to be a separate revenue center for
the Company by the fourth fiscal quarter of this fiscal year.

Other  income  of  $183,692  last  year  was  realized  from the  settlement  of
indebtedness at less than the recorded liability.

VITSAB OPERATIONS

This business segment was acquired in June 1998 and operations consist mainly of
marketing,  production and product  development.  The Vitsab operations are more
full disclosed in the Company's Form 10-K for the year-ended April 30, 1999.

Cost of sales expenditures  represent costs of operations for both Malmo, Sweden
and Belmont, North Carolina operations.

A comparative  analysis of the current  operations and the prior year operations
would not be  meaningful  as the prior year  operations  cover only seven months
while the current operations cover nine months.

Management  anticipates  Vitsab sales  activity  prior to the end of the current
fiscal year ending April 30, 2000.

                                       14
<PAGE>
                          PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Reference  is made to the annual  report  Form 10-K of the  Company for the year
ended April 30, 1998 relative to legal proceedings and litigation. No charges or
determinations  have occurred on such proceedings  during the quarter covered by
this report.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.

     (a)  No exhibits are filed as a part of this report.

     (b)  There were no Form 8-K's filed by the Company during the quarter ended
          January 31, 2000


                                   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.

                                    COX TECHNOLOGIES, INC.


Date March 20, 2000                    By /s/ James L. Cox
     --------------                    -----------------------------------------
                                       James L. Cox, President and Director


Date March 20, 2000                    By /s/ Robert W. Dupree
     --------------                    -----------------------------------------
                                       Robert W. Dupree, Chief Financial Officer

                                       15