SECURITIES & EXCHANGE COMMISSION
                               Washington, D.C. 20549

                                     FORM 10-Q
                   Annual Report Pursuant to Section 13 or 15 (d)
                       of the Securities Exchange Act of 1934

             For the Quarter Ended                     Commission File No. 
                 MARCH 31, 1994                            0-13597              

                                    ASDAR GROUP

                NEVADA                                     88-0195105      
   (State or other jurisdiction of                       (IRS Employer     
     incorporation or organization)                     Identification No.)

                                2124 GLASGOW AVENUE
                             CARDIFF, CALIFORNIA 92007
                      (Address of Principal Executive Offices)

Registrant's telephone number including area code: (619) 792-7300   

Former Address: 1500 East Tropicana Avenue, #110 Las Vegas, Nevada 89119

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

                    Yes            No       X     
                        ----------    -----------
     Indicate the number of shares outstanding for each of the issuer's 
classes of Common Stock as of the last practical date:

     At March 31, 1994, there were 49,949,915 shares of common stock at 
$0.001 par value outstanding. <PAGE>
                                    ASDAR GROUP
                                 TABLE OF CONTENTS

PART I    FINANCIAL STATEMENTS

     ITEM 1    FINANCIAL STATEMENTS (Unaudited)

          Balance Sheets . . . . . . . . . . . . . . . . . . . . . . . . .3

          Statements of Operations . . . . . . . . . . . . . . . . . . . .4

          Statements of Cash Flows . . . . . . . . . . . . . . . . . . . .5

          Notes to Financial Statements. . . . . . . . . . . . . . . . . .6

          ITEM 2    MANAGEMENT'S DISCUSSION AND FINANCIAL  CONDITION
                    AND RESULTS OF OPERATIONS. . . . . . . . . . . . . . .6

PART II   OTHER INFORMATION. . . . . . . . . . . . . . . . . . . . . . . .7

               SIGNATURES  . . . . . . . . . . . . . . . . . . . . . . . .8


     This report on Form 10-Q is for the period ended March 31, 1994, however
the report has been filed with the Securities & Exchange Commission in June
1997.  To the extent practicable, the disclosure contained has been prepared to
speak as of March 31, 1994, the required filing date of the report.

<PAGE>
                                    ASDAR GROUP
                                   Balance Sheets
                  March 31, 1994 (Unaudited) and December 31, 1993
<TABLE>
<CAPTION>
                                         (Unaudited)
                                              March     December 
                                           31, 1994     31, 1993 
                                         -----------  -----------
<S>                                      <C>          <C>
                                       ASSETS
Current Assets                           $      -0-   $      -0- 
--------------                           -----------  -----------
     Total Assets                        $      -0-   $      -0- 

                        LIABILITIES & STOCKHOLDERS' EQUITY 

Current Liabilities
-------------------
  Accounts Payable                       $   15,300   $      200 

     Total Liabilities                       15,300          200 

Stockholders' Equity
--------------------
  Common Stock 50,000,000 Shares 
   Authorized, at $0.001 Par Value, 
   49,949,915 Shares Issued & 
   Outstanding                               49,949       49,949 
  Paid In Capital                         4,311,951    4,311,951 
  Treasury Stock                           (199,167)    (199,167)
  Accumulated Deficit                    (4,178,033)  (4,162,933)
                                         -----------  -----------
     Total Stockholders' Equity             (15,300)        (200)
                                         -----------  -----------
     TOTAL LIABILITIES & 
     STOCKHOLDERS' EQUITY                $      -0-   $      -0- 
                                         ===========  ===========
</TABLE>
                    THe accompanying notes are an integral part
                           of these financial statements<PAGE>
                                    ASDAR GROUP
                        Statements of Operations (Unaudited)
              For the Three Month Period Ended March 31, 1994 and 1993
<TABLE>
<CAPTION>
                                      For the Three Months Ended 
                                              March        March 
                                           31, 1994     31, 1993 
                                         -----------  -----------
<S>                                      <C>          <C>        
Revenues                                 $      -0-   $      -0- 
--------                                 -----------  -----------
Expenses
--------
  Consulting Fees                            15,000          -0- 
  Other                                         100          125 
                                         -----------  -----------
     Total Expenses                          15,100          125 
                                         -----------  -----------
     Net  (Loss)                         $  (15,100)  $     (125)
                                         ===========  ===========
     (Loss) Per Share                    $     (.00)  $     (.00)

     Weighted Average 
     Shares Outstanding                  49,949,915   49,949,915 


</TABLE>
                    The accompanying notes are an integral part
                           of these financial statements<PAGE>
                                    ASDAR GROUP
                        Statements of Cash Flows (Unaudited)
                       For the Periods January 1, 1994 & 1993
                              to March 31, 1994 & 1993
<TABLE>
<CAPTION>
                                               1994         1993 
                                         -----------  -----------
<S>                                      <C>          <C>
Cash Flows from Operating Expenses
----------------------------------
  Net (Loss)                             $  (15,100)  $     (125)
  Changes in Operating Liabilities:
     (Increase) Decrease in Accounts 
     Payable                                 15,100          100 
                                         -----------  -----------
     Net Cash Provided (Used) by 
     Operating Activities                       -0-          (25)
                                         -----------  -----------
Cash Flows From Investing Activities            -0-          -0- 
------------------------------------     -----------  -----------

     Net Cash Provided (Used) by 
     Investing Activities                       -0-          -0- 
                                         -----------  -----------
Cash Flows from Financing Activities            -0-          -0- 
------------------------------------     -----------  -----------
     Net Cash Provided (Used) by 
     Financing Activities                       -0-          -0- 
                                         -----------  -----------
     Increase (Decrease) in Cash                -0-          (25)
                                         -----------  -----------
     Cash at Beginning of Period                -0-           25 
                                         -----------  -----------
     Cash at End of Period               $      -0-   $      -0- 
                                         ===========  ===========
Disclosures from Operating Activities
-------------------------------------
  Interest                               $      -0-   $      -0- 
  Taxes                                         -0-          -0- 
</TABLE>
                    The accompanying notes are an integral part
                           of these financial statements<PAGE>
                                    ASDAR GROUP 
                     Notes to Financial Statements (Unaudited)

ITEM I

NOTE #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, adjustments (consisting of normal recurring accruals) 
considered necessary for a fair presentation have been included.  
Operating results for the three  month period ending March 31, 1994, 
are not necessarily indicative of the results that may be expected for 
the year ended December 31, 1994.  For further information, refer to 
the financial statements and footnotes thereto included in the Company's 
annual report on Form 10-K for the year ended December 31, 1993.


ITEM II 

Management's Discussion and Analysis of Financial Condition and 
Results of Operation.

Liquidity & Capital Resources
-----------------------------
  The Company has been inactive for the current year and has no assets 
with which to conduct business.  The Company is dependent upon its 
officers or shareholders for cash for any purpose.

Results Of Operations
---------------------
  The Company had no operations other than management attempts to 
make an acquisition.  The Company has accrued $5,000 per month, payable 
to its Secretary for services in its acquisition attempts.

<PAGE>
                            PART II - OTHER INFORMATION
                            ---------------------------

Item 1   Legal Proceedings . . . . . . . . . . . . . . . . . . . .  None 

Item 2   Changes in the Rights of the Company's Security Holders .  None 

Item 3   Defaults by the Company on its Senior Securities. . . . . .None 

Item 4   Results of Votes of Security Holders. . . . . . . . . . . .None 

Item 5   Other Information . . . . . . . . . . . . . . . . . . . . .None 

Item 6   Exhibits and Reports on Form 8-K. . . . . . . . . . . . . .None 






<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. 




                                       ASDAR GROUP

         June 17, 1997                 /s/ Nicholas F. Coscia
Date:    -------------------      By:  ------------------------
                                       Nicholas F. Coscia
                                       Secretary & Chief Accounting 
                                       Officer