U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

[X]  Quarterly  report under Section 13 or 15(d) under the  Securities  Exchange
     Act of 1934.

         For the quarterly period ended      March 31, 2001
                                        ------------------------

[ ] Transition report under Section 13 or 15(d) of the Exchange Act.

         For the transition period from           to
                                        ---------    ----------

                        Commission file number 000-28301
                                               ---------

                           ID TECHNOLOGIES CORPORATION
                         ------------------------------
        (Exact Name of Small Business Issuer as Specified in Its Charter)


         North Carolina                                          56-1866233
------------------------------------                         -----------------
   (State or Other Jurisdiction of                           (I.R.S. Employer
   Incorporation or Organization)                           Identification No.)

                        920 Main Campus Drive / Suite 400
                          Raleigh, North Carolina 27606
                     --------------------------------------
                    (Address of Principal Executive Offices)

                                 (919) 424-3722
                 -----------------------------------------------
                (Issuer's Telephone Number, Including Area Code)

                                       N/A
                         -------------------------------
                        (Former Name, Former Address and
                Former Fiscal Year, if Changed Since Last Report)

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

Yes      X         No
   ---------------   ---------------

     State the number of shares  outstanding of each of the issuer's  classes of
common  equity,  as of the latest  practicable  date:  The issuer had  9,991,047
shares of common stock outstanding as of May 10, 2001.

         Transitional Small Business Disclosure Format (check one):

Yes                No      X
   ---------------   ---------------

<PAGE>


                                FORM 10-QSB INDEX

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

PART I        FINANCIAL INFORMATION
              Item 1.      Financial Statements.
              Item 2.      Management's Plan of Operation.

PART II       OTHER INFORMATION
              Item 1.      Legal Proceedings.
              Item 2.      Changes in Securities and Use of Proceeds.
              Item 3.      Defaults Upon Senior Securities.
              Item 4.      Submission of Matters to a Vote of Security Holders.
              Item 5.      Other Information.
              Item 6.      Exhibits and Reports on Form 8-K.

SIGNATURES


CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

     This  Form  10-QSB  contains  forward-looking  statements.  Any  statements
contained in this Form 10-QSB that are not  statements  of  historical  fact are
intended to be and are hereby  identified as  forward-looking  statements within
the  meaning  of the  Private  Securities  Litigation  Reform  Act of  1995.  ID
Technologies  Corporation,  a  North  Carolina  corporation  (the  "Company"  or
"IDTEK")  cautions  readers that forward  looking  statements  involve known and
unknown risks and uncertainties  which could cause actual results or outcomes to
differ  materially  from  those  expressed  in the  forward-looking  statements.
Forward-looking  statements  include  statements  concerning plans,  objectives,
goals,  strategies,  expectations,  future events or performance  and underlying
assumptions and other  statements  which are other than statements of historical
facts.

     Without  limiting the  foregoing,  words such as "may,"  "will,"  "expect,"
"believe,"  "anticipate,"  "estimate,"  "continue" or comparable terminology are
intended to  identify  forward-looking  statements.  These  statements  by their
nature  involve  substantial  risks and  uncertainties,  and actual  results may
differ  materially  depending  on a variety  of  factors,  many of which are not
within the Company's  control.  These factors  include,  but are not limited to,
economic  conditions  generally  and in the  industries in which the Company may
participate;   competition  within  the  Company's  chosen  industry,  including
competition from much larger competitors; technological advances; and failure by
the  Company  to  successfully   develop  potential   products  and/or  business
relationships and strategic alliances.  In addition to other factors and matters
discussed  elsewhere  herein,  the following are important  factors that, in the
view of the Company,  could cause actual results to differ materially from those
discussed in the  forward-looking  statements:  ability of the Company to obtain
acceptable forms and amounts of financing to fund current and future operations,
research and development and acquisitions;  competition; the Company's operating
losses; the Company's ability to commercially develop its proposed products; the
Company's  ability  to  attract,   hire  and  retain  employees  and  management
personnel;  and the Company's ability to regain control over the development and
exploitation of its technology.  The Company  disclaims any intent or obligation
to  update  these  forward-looking  statements,  whether  as  a  result  of  new
information, future events or otherwise.

<PAGE>



                          PART I FINANCIAL INFORMATION

Item 1.  Financial Statements
<TABLE>
<CAPTION>

ID Technologies Corporation
(A Development Stage Company)
Condensed Balance Sheet
March 31, 2001 and December 31, 2000

                                                        March 31, 2001      December 31, 2000
                                                         (Unaudited)            (Audited)
                                                         -----------           -----------
<S>                                                     <C>                    <C>
Assets

Current assets:
   Cash and cash equivalents                             $   195,800           $    49,311
   Prepaid expenses                                      $     3,430           $     7,010
                                                         -----------           -----------
       Total current assets                              $   199,230           $    56,321
   Equipment, net                                        $     1,141           $     1,252
   Patents, net                                          $    26,532           $    19,653
                                                         -----------           -----------
        Total assets                                     $   226,903           $    77,226
                                                         ===========           ===========

Liabilities and shareholders' deficit
Current liabilities:
    Accounts payable and accrued liabilities             $    91,390           $    84,053
    Notes payable to shareholder                         $     3,022           $    22,840
    Notes payable, current                               $    10,993           $    60,618
                                                         -----------           -----------
          Total current liabilities                      $   105,405           $   167,511
   Long term notes payable                               $    32,483           $    35,374
   Long term convertible debt, net of discount
         of $15,896 and $19,550, respectively            $   169,104           $   165,450
   Deferred revenue                                      $   375,772           $   179,218
Shareholders' deficit:
   Common stock                                          $   282,953           $   282,953
   Additional paid in capital                            $ 4,371,937           $ 4,236,417
   Deficit accumulated during
                development stage                        $(5,110,751)          $(4,989,697)
                                                         -----------           -----------
       Total shareholders' deficit                       $  (455,861)          $  (470,327)
                                                         -----------           -----------
Total liabilities and  shareholders' deficit             $   226,903           $    77,226
                                                         ===========           ===========

</TABLE>
<PAGE>
<TABLE>
<CAPTION>

ID Technologies Corporation
(A Development Stage Company)
Condensed  Statement of Operations for the three months ended March 31, 2001 and
2000 and for the period from inception (March 16, 1994) through March 31, 2001


                                      3 months ended  3 months ended  Inception 3/16/94
                                      March 31, 2001  March 31, 2000   through 3/31/01
                                        (Unaudited)     (Unaudited)      (Unaudited)
                                       ------------     ----------       -----------
<S>                                    <C>             <C>              <C>
License revenue                        $    28,446      $      -         $   123,290
Royalty revenue                        $     4,000      $      -         $     4,000
                                       ------------     ----------       -----------
        Total revenues                 $    32,446      $      -         $   127,290
Research & development                 $       -        $   10,000       $   736,268
Selling, general and
      administrative expenses          $   142,583      $   84,314       $ 4,036,103
                                       ------------     ----------       -----------
         Loss from operations          $  (110,137)     $  (94,314)      $(4,645,081)
Other income and expense:
  Interest income - contractual        $       -        $      -         $     3,220
  Gain on disposal of asset            $       -        $      -         $       353
  Forgiveness of debt                  $       -        $      -         $    28,717
  Amortization of debt discount on     $    (3,654)     $  (60,654)      $  (287,174)
        convertible debentures
  Interest expense                     $    (7,263)     $  (11,681)      $   (84,786)
  Debt conversion expense              $       -        $      -         $  (126,000)
                                       ------------     ----------       -----------
Net loss                               $  (121,054)     $ (166,649)      $(5,110,751)

Basic and diluted loss
   per common share                    $     (0.01)     $    (0.02)

Weighted average number                  9,711,085       8,277,729
      of common shares

</TABLE>



<PAGE>
<TABLE>
<CAPTION>


                                                ID Technologies Corporation
                                               (A Development Stage Company)

                                        Statements of Shareholders' Equity (Deficit)

                              Period from inception (March 16, 1994) through March 31, 2001

                                                                                                  DEFICIT
                                                                                  ADDITIONAL     ACCUMULATED
                                                                                   PAID-IN         DURING
                                                      SHARES         AMOUNT        CAPITAL       DEVELOPMENT        TOTAL
                                                    ----------     ----------     ----------     ----------      ----------
<S>                                              <C>              <C>            <C>            <C>              <C>
Balance at March 16, 1994                                 --             --             --             --              --
Issuance of common shares for cash and
   noncash consideration                             1,595,200            366             33           --               399

Net loss                                                  --             --             --             (123)           (123)
                                                    ----------     ----------     ----------     ----------      ----------
Balance at December 31, 1994                         1,595,200            366             33           (123)            276
Issuance of common shares for cash and
   noncash consideration                               404,800           --              101           --               101

Net loss                                                  --             --             --           (2,263)         (2,263)
                                                    ----------     ----------     ----------     ----------      ----------
Balance at December 31, 1995                         2,000,000            366            134         (2,386)         (1,886)
Issuance of common shares for cash and
   noncash consideration                             6,000,000           --            1,500           --             1,500

Net loss                                                  --             --             --          (29,889)        (26,889)
                                                    ----------     ----------     ----------     ----------      ----------
Balance at December 31, 1996                         8,000,000            366          1,634        (32,275)        (30,275)
Issuance of common shares for cash net of
   issuance costs                                      153,333        282,587           --             --           282,587
Capital contribution in form of research
   and development services                               --             --          201,405           --           201,405
Stock-based compensation                                  --             --        1,333,600           --         1,333,600
Net loss                                                  --             --             --       (1,684,313)     (1,684,313)
                                                    ----------     ----------     ----------     ----------      ----------
Balance at December 31, 1997                         8,153,333        282,953      1,536,639     (1,716,588)        103,004
Issuance of common shares for noncash
   consideration                                        22,500           --           45,000           --            45,000
Capital contribution in form of research
   and development services                               --             --          192,319           --           192,319
Stock-based compensation                                  --             --          933,425           --           933,425
Net loss                                                  --             --             --       (1,426,725)     (1,426,725)
                                                    ----------     ----------     ----------     ----------      ----------
Balance at December 31, 1998                         8,175,833        282,953      2,707,383     (3,143,313)       (152,977)
Issuance of warrants in connection with
   issuance of convertible debt                           --             --          271,870           --           271,870
Capital contribution in form of research
   and development services                               --             --          269,441           --           269,441
Issuance of common shares for noncash
   consideration                                       101,750           --          142,165           --           142,165
Net loss                                                  --             --             --         (939,741)       (939,741)
                                                    ----------     ----------     ----------     ----------      ----------
Balance at December 31, 1999                         8,277,583        282,953      3,390,859     (4,083,054)       (409,242)

Conversion of convertible debt to equity               250,000           --          100,000           --           100,000
Issuance of beneficial conversion features in
   connection with issuance of convertible debt           --             --           31,200           --            31,200
Debt conversion expense                                   --             --          126,000           --           126,000
Capital contribution in form of research and
   development services                                   --             --           72,600           --            72,600
Issuance of common shares for noncash
   consideration                                       211,759           --          116,148           --           116,148
Issuance of common shares for cash                     944,963           --          399,610           --           399,610
Net loss                                                  --             --             --         (906,644)       (906,644)
                                                    ----------     ----------     ----------     ----------      ----------
Balance at December 31, 2000                         9,684,305        282,953      4,236,417     (4,989,697)       (470,327)

Issuance of common shares for noncash
   consideration                                        65,499           --           32,497           --            32,497
Issuance of common shares for cash                     257,556           --          103,023           --           103,023
Net loss                                                  --             --             --         (121,054)       (121,054)
                                                    ----------     ----------     ----------     ----------      ----------
Balance at March 31, 2001                           10,007,360        282,953      4,371,937     (5,110,751)       (455,861)
</TABLE>

<PAGE>
<TABLE>
<CAPTION>



ID Technologies Corporation
(A Development Stage Company)
Condensed Statement of Cash Flows
for the three  months  ended  March 31,  2001 and 2000 and for the  period  from
inception (March 16, 1994) through March 31, 2001

                                                        3 months ending    3 months ending   Inception3/16/94
                                                         March 31, 2001     March 31, 2000    through 3/31/01
                                                         --------------     --------------    ---------------
                                                          (Unaudited)       (Unaudited)         (Unaudited)
<S>                                                    <C>                <C>                 <C>
Cash flows from operating activities:
Net loss                                                 $  (121,054)       $  (166,649)       $(5,110,751)
Adjustments to reconcile net loss to net cash
  used in operation activities:
    Depreciation                                         $       112        $       188        $     2,179
    Amortization                                         $     1,221        $       996        $    15,771
    Deferred revenue                                     $   196,554        $      --          $   375,772
    Gain on disposal of equipment                        $      --          $      --          $      (353)
    Stock based compensation                             $      --          $      --          $ 2,267,025
    Non-cash marketing expenses                          $      --          $      --          $    49,165
    Non-cash research and development expenses           $      --          $    10,000        $   737,394
    Non-cash professional fees                           $    32,497        $     5,175        $   282,444
    Non-cash interest payments                           $      --          $      --          $     6,930
    Debt forgiveness of note payable                     $      --          $      --          $   (28,717)
    Non-cash debt conversion expense                     $      --          $      --          $   126,000
    Discount on convertible debentures                   $     3,654        $    60,654        $   287,173
    Change in operating assets and liabilities:
          Prepaid expenses                               $     3,580        $      --          $    (3,430)
          Accounts payable and accrued liabilities       $     7,337        $    19,550        $    91,391
                                                         -----------        -----------        -----------

Net cash provided by (used in) operating                 $   123,901        $   (70,086)       $  (902,007)
          activities

Cash flows from investing activities:
   Patent costs                                          $    (8,100)       $      --          $   (42,303)
   Purchase of equipment                                 $      --          $      --          $    (3,980)
   Disposal of equipment                                 $      --          $      --          $     1,014
                                                         -----------        -----------        -----------

Net cash used in investing activities                    $    (8,100)       $      --          $   (45,269)

Cash flows from financing activities:
   Proceeds from issuance of notes payable               $      --          $    50,000        $   383,750
   Payment of notes payable                              $   (72,335)       $   (15,000)       $  (237,252)
   Proceeds from issuance of convertible debt            $      --          $      --          $   665,000
   Payment on convertible debt                           $      --          $      --          $  (380,000)
   Proceeds from sale of common shares                   $   103,023        $      --          $   428,620
   Proceeds from issues of common shares, net            $      --          $      --          $   282,958
                                                         -----------        -----------        -----------

Net cash provided by financing activities                $    30,688        $    35,000        $ 1,143,076
Increase (decrease) in cash and cash equivalents         $   146,489        $   (35,086)       $   195,800

Cash and cash equivalents, beginning of period           $    49,311        $    62,986        $      --
Cash and cash equivalents, end of period                 $   195,800        $    27,900        $   195,800

</TABLE>

<PAGE>


ID Technologies Corporation
(A Development Stage Company)
Notes to Financial Statements
March 31, 2001
(Unaudited)

1.  Management's Opinion
While  the  financial   information   furnished  is  unaudited,   the  condensed
consolidated   financial   statements   included  in  this  report  reflect  all
adjustments  (consisting  of normal  recurring  adjustments)  which the  Company
considers  necessary  for  the  fair  presentation  of the  results  of  company
operations for the interim periods covered and of the financial condition of the
Company at the date of the  interim  balance  sheet.  The  results  for  interim
periods are not  necessarily  indicative of the results for the entire year. The
condensed  consolidated  financial statements should be read in conjunction with
the ID Technologies  Corporation audited  consolidated  financial statements and
notes  thereto  included in the  Company's  Annual Report on Form 10-KSB for the
fiscal year ended December 31, 2000.

2. Licenses
The exclusive  licenses  granted to Protective  Technologies,  Inc.  (Protek) in
October 2000 for casino, lottery gaming and mass transit and options to purchase
four additional  exclusive licenses were transferred to Global Biometrics,  Inc.
during the first quarter of 2001 when Global Biometrics  purchased the assets of
Protek.  The exercise  price for the four options is $1,850,000  and the options
expire June 30, 2001.  The $25,000  license  transfer fee was paid by means of a
$25,000 Protek debt forgiveness in the fourth quarter of 2000.

3. Revenue
In February  2001,  SafeNet  paid the Company  $4,000 in royalties on $80,000 in
sales made to a British government agency that uses the Company's technology. In
addition,  the Company  earned  $25,000 in license  transfer fee income from the
transfer  of  licenses  from  SafeNet to Global  Biometrics.  The  Company  also
received a $200,000 advance for royalties on future sales,  which is recorded as
deferred revenue.

The license revenue is the amortization of the Bob Barker Company license valued
at $89,062  and the Protek,  now Global  Biometric,  licenses  valued at $75,000
which are being amortized at rates of $632 and $310 per month.

4. Debt
A 90 day bank loan of $50,000 was due and repaid with interest in January 2001.


<PAGE>



Item 2.  Management's Plan of Operation.

The Company is engaged in the development of biometric  technologies,  know-how,
and products for licensing  worldwide.  The Company holds the patent for a card,
panel,   or   substrate   allowing   "on-board"   storage   and   authentication
(identification) of fingerprints with a frontier biometric market size estimated
to be 1/10 trillion  dollars.  The  applications of this technology are many and
varied: from welfare cards to loyalty/medical records/personal information cards
to controlling the use of firearms.

The development and production of this biometric breakthrough was managed by the
Company's  scientific  partner,  SafeNet of  Baltimore,  Maryland.  SafeNet is a
leading  provider of network and  internet  security  systems and  technologies.
SafeNet is a 12% Company  shareholder  and holds a Company license in the fields
of internet,  computer  network,  banking and treasury  fields  worldwide  which
SafeNet  sublicensed in perpetuity to Global Biometrics in the fourth quarter of
2000.

A  prototype  card  has  just  been  completed,   as  well  as  a  comprehensive
manufacturing  plan to build a single-chip  production card at a cost below $20.
The  non-recurring  engineering cost (NRE) will be the  responsibility of Global
Biometrics for a single-chip card at a cost of approximately $1,700,000.

Presently,  the  Company  has initial  licenses  in place with  SafeNet,  Global
Biometrics  (formerly  Protek),  Power^Up and BrentScott,  which are expected to
yield  $400,000  in  additional   license  fees  when  card  production  begins.
Production  is  expected  to begin in late  2001.  The  licenses  to Bob  Barker
Company,  SafeNet  and  Global  Biometrics  are  paid in full.  However,  Global
Biometrics  has an  option  for  four  additional  licenses  at a total  cost of
$1,850,000.  The options expire June 30, 2001.  Should Global  Biometrics choose
not to exercise its option,  the Company will attempt to sell those  licenses to
other interested parties.

The Company believes it has to be the first-to-market  leader with the following
competitive advantages:

-    A  biometric  fingerprint  card with  storage and a power  source  (lithium
     battery) on board.
-    A biometric fingerprint card not requiring an independent power source.
-    A biometric fingerprint card safeguarding personal privacy (a government or
     corporate database system is unnecessary).
-    A biometric  fingerprint card with 130 mps of computing power (the power of
     a Palm Pilot).

The biometric  fingerprint  card is essentially a standalone  computer on a card
protected by the Lane foundation  patent:  United States Patent Number 5,623,552
issued on April 22, 1997 with an enforceable life until August 15, 2015. Another
biometric patent was filed in February 2001.

The Company has been a development stage company with nominal revenues since its
inception. Losses were $1,684,313 in 1997, $1,426,725 in 1998, $939,741 in 1999,
$906,644 in 2000 and $121,054 in the first quarter of 2001.

<PAGE>

As of April 20, 2001, the Company had $161,000 in cash.  Currently,  the Company
has a cash burn rate of $35,000 per month.

With the policy of contracting out development and concentrating on licensing of
intellectual  property and marketing,  the Company does not plan to purchase any
equipment or buy or rent plant(s) in the next year.

     Results of Operations

     The following  discussion  provides an analysis of the Company's results of
operations  and  liquidity  and  capital  resources.  This  should  be  read  in
conjunction with the financial  statements of the Company and notes thereto. The
operating results of the periods  presented were not  significantly  affected by
inflation.

     Comparison of Three Months Ended March 31, 2001 and 2000:

     License  revenue for the first quarter 2001 was $28,446 as compared to zero
for the same  quarter of 2000.  The license  revenue is  comprised  of a $25,000
license  transfer fee from SafeNet to sublicense  in  perpetuity  the license to
Global  Biometrics and $3,446 in the  amortization  of the Bob Barker and Global
Biometrics'  licenses.  No new license  agreements were sold during the quarter.
Royalty revenue for the three months ended March 31, 2001 was $4,000 as compared
to zero for the same period of 2000. The royalty  payments  recorded  during the
period  are for  SafeNet  sales to a  British  government  agency  that uses the
Company's  technology.  Royalty payments are predicated on the sale price of the
cards to end-users by licensees.

     The research and  development  expenses are a non-cash entry in both years,
which mirrors exactly  SafeNet's  research and development cash expenses for the
development  of the  biometric  fingerprint  card.  SafeNet  did not  incur  any
research and development costs in the three months ended March 31, 2001 compared
to $10,000 for the three months ended March 31, 2000. Even though  SafeNet,  the
Company's  development  partner and 12%  shareholder,  was  responsible  for and
incurred  this  expense,  the Company must record the expense  since the Company
receives the benefits from SafeNet's research.

     Selling, general, and administrative expenses during the three months ended
March 31, 2001 were  $142,583,  up 69% from the $84,314 of such  expenses in the
prior year period.  Of this $58,000  variance,  $21,000 is due to accounting for
audit fees in the first  quarter of 2001 as  compared  to the second  quarter in
2000,  $16,000 of the  variance  is for  additional  legal and  consulting  fees
incurred in 2001,  and $14,000 of the  variance is  commissions  paid for equity
investments in the first quarter of 2001 where no such  investments were made in
the first quarter of 2000. The remaining  $7,000 variance is due to increases in
investor relations, insurance and rent expenses.

     Amortization  of debt discount on convertible  debentures was $3,654 in the
first  quarter of 2001  compared  to  $60,654  in the first  quarter of the 2000
fiscal  year.  This is a non-cash  expense to amortize  the value of options and
warrants  associated with the $485,000 of convertible debt issued by the Company
in 1999.  The Company  paid off  $300,000  of the debt in the fourth  quarter of
2000,  thus the $57,000 per quarter  amortization  was not recorded in the first
quarter of 2001.

<PAGE>

     Interest expense was $7,263 in the first quarter of 2001, down from $11,681
in the first  quarter  of 2000.  This is  accrued  interest  of 12% on  $185,000
convertible  debentures  issued in mid-1999  and 14% on a $50,000  note  payable
issued  June  2000.  In the  first  quarter  of 2000,  $300,000  in  convertible
debentures earned 8% interest. These debentures were repaid with interest in the
fourth quarter 2000.

     The Company's net operating  loss for the three months ended March 31, 2001
was $110,137 up 17% from the net operating  loss of $94,314 for the three months
ended March 31, 2000.

                            PART II OTHER INFORMATION

Item 1.  Legal Proceedings.

     The  Company is not  involved  in any  material  pending  legal  proceeding
adverse to the Company.

Item 2.       Changes in Securities and Use of Proceeds.

     The Company  sold 257,556  shares of common stock and two year  warrants to
purchase  257,556 shares of common stock at an exercise price of $0.40 per share
to a group of four investors.  The four investors included the Company's C.E.O.,
Phillip J. Johnston, who purchased 62,500 shares and warrants to purchase 62,500
shares and William Lane, the Company's Chairman,  who purchased 7,500 shares and
warrants to purchase 7,500 shares.  The other two investors were, at the time of
the investment,  shareholders of the Company.  The purchase price for each share
and tandem  warrant was $0.40,  slightly  in excess of the stock's  price on the
Over the Counter  Bulletin  Board on the date of the stock sale. The sale raised
$103,023 of proceeds for the Company in the first  quarter.  The  proceeds  were
invested  in a bank  certificate  of  deposit  and  will be used  for  operating
expenses  during the remainder of 2001.  The Company issued 65,499 common shares
to a legal  advisor  of the  Company in  exchange  for  $32,497 of  professional
services.  The Company relied on the securities  registration exemption provided
by Section 4(2) of the  Securities Act of 1933, as amended,  in connection  with
these stock issuances since these were privately  negotiated  transactions  with
individuals who each had an existing business relationship with the Company.

Item 3.       Defaults Upon Senior Securities.

     None.

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

     No matters were submitted to a vote of security  holders during the quarter
ended March 31, 2001.

Item 5.       Other Information.

     None.



<PAGE>




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

(A) EXHIBITS.


 Exhibit                                                              Sequential
   No.                    Description                                  Page No.
--------                  -----------                                 ---------
    3                     Articles  of  Incorporation,   together
                          with all amendments  thereto,  filed as
                          Exhibit 2.01 to the  Registrant's  Form
                          10-SB  filed as of November  30,  1999,
                          filed   with   the   SEC,    which   is
                          incorporated  herein  by  reference  to
                          such Form 10-SB.


   3.1                    Bylaws,  filed as  Exhibit  2.02 to the
                          Registrant's  Form  10-SB  filed  as of
                          November 30, 1999,  filed with the SEC,
                          which   is   incorporated   herein   by
                          reference to such Form 10-SB.

    4                     Form of Debenture Purchase Agreement by
                          and among the Company and purchasers of
                          the    Company's    12%     Convertible
                          Subordinated Debentures due 2002, filed
                          as  Exhibit  3.01  to the  Registrant's
                          Form  10-SB  filed as of  November  30,
                          1999,  filed  with  the  SEC,  which is
                          incorporated  herein  by  reference  to
                          such Form 10-SB.

   4.1                    Form  of 12%  Convertible  Subordinated
                          Debenture  Due 2002,  filed as  Exhibit
                          3.02  to the  Registrant's  Form  10-SB
                          filed as of November  30,  1999,  filed
                          with  the SEC,  which  is  incorporated
                          herein by reference to such Form 10-SB.

   4.2                    Registration Rights Agreement, dated as
                          of  December  31,  1997,   between  the
                          Company  and  Hutchison  & Mason  PLLC,
                          filed   as   Exhibit    3.04   to   the
                          Registrant's  Form  10-SB  filed  as of
                          November 30, 1999,  filed with the SEC,
                          which   is   incorporated   herein   by
                          reference to such Form 10-SB.

   4.3                    Stock Purchase  Agreement,  dated as of
                          August  1,  1997,   by  and  among  the
                          Company,  Li-Pei Wu and William F. Lane
                          (as   agent   for   certain   sellers),
                          together   with   Addendum   to   Stock
                          Purchase   Agreement   of   even   date
                          therewith, filed as Exhibit 3.04 to the
                          Registrant's  Form  10-SB  filed  as of
                          November 30, 1999,  filed with the SEC,
                          which   is   incorporated   herein   by
                          reference to such Form 10-SB.

   4.4                    Convertible  Debenture,  dated September
                          24, 1999, made by the  Company  in favor
                          of   Centennial    Venture     Partners,
                          LLC,  filed   as  Exhibit  3.05  to  the
                          Registrant's  Form  10-SB  filed  as  of
                          November 30,  1999,  filed with the SEC,
                          which   is   incorporated    herein   by
                          reference to such Form 10-SB ("CVP").
<PAGE>

   4.5                    Common Stock Purchase  Warrant,  dated,
                          September 24, 1999, made by the Company
                          in favor of CVP (450,000 shares), filed
                          as  Exhibit  3.06  to the  Registrant's
                          Form  10-SB  filed as of  November  30,
                          1999,  filed  with  the  SEC,  which is
                          incorporated  herein  by  reference  to
                          such Form 10-SB.

   4.6                    Common Stock  Purchase  Warrant,  dated
                          September 24, 1999, made by the Company
                          in favor of CVP (200,000 shares), filed
                          as  Exhibit  3.08  to the  Registrant's
                          Form  10-SB  filed as of  November  30,
                          1999,  filed  with  the  SEC,  which is
                          incorporated  herein  by  reference  to
                          such Form 10-SB.

   4.7                    Common Stock  Purchase  Warrant,  dated
                          September 24, 1999, made by the Company
                          in favor of CVP (up to $500,000), filed
                          as  Exhibit  3.09  to the  Registrant's
                          Form  10-SE  filed as of  November  30,
                          1999,  filed  with  the  SEC,  which is
                          incorporated  herein  by  reference  to
                          such Form 10-SB.

   4.8                    Investor Rights Agreement,  dated as of
                          September  24,  1999,  by and among the
                          Company  and  certain  holders  of  its
                          capital stock, filed as Exhibit 3.10 to
                          the Registrant's Form 10-SB filed as of
                          November 30, 1999,  filed with the SEC,
                          which   is   incorporated   herein   by
                          reference to such Form 10-SB.

  4.9                     Shareholders Agreement, dated September
                          24, 1999,  by and among the Company and
                          certain   shareholders  and  investors,
                          filed   as   Exhibit    3.11   to   the
                          Registrant's  Form  10-SB  filed  as of
                          November 30, 1999,  filed with the SEC,
                          which   is   incorporated   herein   by
                          reference to such Form 10-SB.

  4.10                    Form of Warrant to Purchase Common Stock
                          issued  by   the  Company   to   various
                          investors in 2000.

(b)      Reports on Form 8-K.

         None.



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                                   SIGNATURES

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

                                      ID TECHNOLOGIES CORPORATION


                                  BY  /S/ J. Phillips L. Johnston
                                      ------------------------------------------
DATE:    May 15, 2001                 J. Phillips L. Johnston, President and CEO


                                      /S/ William F. Lane
                                      ------------------------------------------
DATE:    May 15, 2001                 William F. Lane, Chairman and Treasurer
                                      (Principal Financial Officer)


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