SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                    FORM 10-Q/A

(X)      QUARTERLY  REPORT  PURSUANT  TO SECTION  13 OR 15(d) OF THE  SECURITIES
         EXCHANGE ACT OF 1934

For the quarterly period ended:                September 30, 2000
                               -------------------------------------------------

(  )     TRANSITION  REPORT  PURSUANT  TO SECTION 13 OR 15(d) OF THE  SECURITIES
         EXCHANGE ACT OF 1934

For the transition period from____________________________ to___________________

Commission File Number:    0-27977
                        -------------

                  Lumenon Innovative Lightwave Technology, Inc.
                  ---------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

                  Delaware                               98-0213257
(State or Other Jurisdiction of             (I.R.S. Employer Identification No.)
Incorporation or Organization)

8851 Trans-Canada Highway, Ville Saint-Laurent (QC) Canada           H4S 1Z6
----------------------------------------------------------           -------
(Address of Principal Executive Offices)                             (Zip Code)

                                 (514) 331-3738
                                 --------------
              (Registrant's Telephone Number, Including Area Code)

Indicate by check whether the registrant:  (1) has filed all reports to be filed
by  Section 13 or 15(d) of the  Securities  Exchange  Act of 1934  during the 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.(X) Yes ( ) No


State the number of shares outstanding of each of the issuer's classes of common
equity as of the latest  practicable  date:  36,069,153  shares of Common Stock,
$.001 par value, as of November 8, 2000.




<PAGE>


PART 1. FINANCIAL INFORMATION

Item 1.  Financial Statements

LUMENON INNOVATIVE LIGHTWAVE
TECHNOLOGY, INC.
(a Development Stage Enterprise)
Consolidated Balance Sheets
(Unaudited)
(in thousands of dollars)
<TABLE>
<CAPTION>

----------------------------------------------------------------------------------------------------------------------------
                                                                September 30,           September 30,               June 30,
                                                                         2000                    2000                   2000
----------------------------------------------------------------------------------------------------------------------------
                                                                        (US$)                  (CAN$)                 (CAN$)
                                                                     (note 6)
Assets

Current assets:
<S>                                                          <C>                      <C>                      <C>
      Cash and cash equivalents                              $            304         $           458          $       1,125
      Term deposits                                                    30,866                  46,515                  4,300
      Interest and sales tax receivable                                 1,313                   1,979                    366
      Research tax credits receivable                                     201                     303                    191
      Prepaid expenses                                                     77                     116                     77
      ----------------------------------------------------------------------------------------------------------------------
                                                                       32,761                  49,371                  6,059

Deposits (note 7)                                                       1,229                   1,852                  1,525
Property and equipment (note 3)                                        12,618                  19,016                  4,603
Other assets                                                               11                      16                     13
----------------------------------------------------------------------------------------------------------------------------
                                                             $         46,619         $        70,255          $      12,200
============================================================================================================================

Liabilities and Stockholders' Equity

Current liabilities:
      Accounts payable                                       $          4,293         $         6,470          $       1,047
      Accrued liabilities                                                 387                     583                    325
      Obligations under capital leases                                    357                     538                    235
      ----------------------------------------------------------------------------------------------------------------------
                                                                        5,037                   7,591                  1,607

Convertible notes (note 4)                                             14,120                  21,278                     -
Obligations under capital leases                                          514                     775                    279

Stockholders' equity:
      Share capital (note 5)                                               35                      53                     49
      Additional paid-in capital (note 5)                             194,211                 292,676                234,864
      Accumulated deficit                                            (167,298)               (252,118)              (224,599)
      ----------------------------------------------------------------------------------------------------------------------
                                                                       26,948                  40,611                 10,314
Commitments (note 7)
Subsequent events (note 9)
----------------------------------------------------------------------------------------------------------------------------
                                                             $         46,619         $        70,255          $      12,200
============================================================================================================================
</TABLE>

See accompanying notes to unaudited consolidated financial statements.

On behalf of the Board:

______________________ Director

______________________ Director

                                       -2-

<PAGE>


LUMENON INNOVATIVE LIGHTWAVE
TECHNOLOGY, INC.
(a Development Stage Enterprise)
Consolidated Statements of Operations
(Unaudited)
(in thousands of dollars, except per share amounts)
<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------------------------------
                                         Three months             Three months            hree months                        From
                                                ended                    ended                  ended                inception to
                                        September 30,            September 30,            ptember 30,               September 30,
------------------------------------------------------------------------------------------------------------------------------------
                                                 2000                     2000                   1999                        2000
------------------------------------------------------------------------------------------------------------------------------------
                                                (US$)                   (CAN$)                 (CAN$)                      (CAN$)
                                             (note 6)

<S>                                   <C>                     <C>                      <C>                  <C>
Expenses:
      Research and
         development                  $           966         $          1,457         $        2,069       $             220,926
      Research tax credits                        (75)                    (113)                   (35)                       (439)
------------------------------------------------------------------------------------------------------------------------------------
                                                  891                    1,344                  2,034                     220,487

      General and administrative
         expenses                               2,415                    3,639                    487                       8,519
      Depreciation                                364                      548                     91                       1,441
------------------------------------------------------------------------------------------------------------------------------------
                                                2,779                    4,187                    578                       9,960

Other expenses (income):
      Loss (gain) on foreign
         exchange                                (472)                    (711)                    55                        (782)
      Interest expense                            484                      729                     13                         771
      Interest income                            (526)                    (793)                   (16)                     (1,081)
      Financing charges (note 4)               15,105                   22,763                      -                      22,763
------------------------------------------------------------------------------------------------------------------------------------
                                               14,591                   21,988                     52                      21,671

------------------------------------------------------------------------------------------------------------------------------------
Net loss                              $        18,261         $         27,519         $        2,664       $             252,118
------------------------------------------------------------------------------------------------------------------------------------

Net loss per share                    $          0.53         $           0.80         $         0.13
-----------------------------------------------------------------------------------------------------------

Weighted average number
   of shares outstanding                   34,511,352               34,511,352             21,116,992
-----------------------------------------------------------------------------------------------------------
</TABLE>


See accompanying notes to unaudited consolidated financial statements.

                                      -3-

<PAGE>

LUMENON INNOVATIVE LIGHTWAVE
TECHNOLOGY, INC.
(a Development Stage Enterprise)
Consolidated Statements of Cash Flows
(Unaudited)
(in thousands of dollars)
<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------------------------------
                                            Three months            Three months            Three months                    From
                                                   ended                   ended                    ended           inception to
                                           September 30,           September 30,            September 30,          September 30,
------------------------------------------------------------------------------------------------------------------------------------
                                                    2000                    2000                     1999                   2000
------------------------------------------------------------------------------------------------------------------------------------
                                                   (US$)                  (CAN$)                   (CAN$)                 (CAN$)
                                                (note 6)
Cash flows from:

<S>                                     <C>                       <C>                    <C>                    <C>
Operating activities:
      Net loss                          $        (18,261)         $      (27,519)        $         (2,664)      $       (252,118)
      Adjustment for items not
         involving cash:
            Depreciation                             364                     548                       91                  1,441
            Interest expense on
               convertible notes                  15,587                  23,489                                          23,489
            Compensation cost                        469                     707                       -                     999
            Shares issuable for
               services                               -                       -                     1,892                217,359
            Unrealized loss on
               foreign exchange                      431                     650                       -                     650
      Net change in operating assets
         and liabilities (note 8)                   (805)                 (1,211)                    (231)                  (954)
------------------------------------------------------------------------------------------------------------------------------------
                                                  (2,215)                 (3,336)                    (912)                (9,134)
Financing activities:
      Proceeds from issuance of
         common shares                             3,911                   5,893                    3,985                 23,141
      Cash from the acquisition of a
         subsidiary                                   -                       -                        -                     814
      Share issue expenses                           (18)                    (27)                    (292)                (1,125)
      Principal repayments of
         capital lease                               (54)                    (81)                      -                    (171)
      Proceeds from issuance of
         convertible notes                        34,003                  51,243                       -                  51,542
      Debt issue costs                            (1,898)                 (2,861)                                         (2,861)
------------------------------------------------------------------------------------------------------------------------------------
                                                  35,944                  54,167                    3,693                 71,340
Investing activities:
      Additions to property and
         equipment                                (5,941)                 (8,953)                    (535)               (13,365)
      Deposits                                      (217)                   (327)                      -                  (1,852)
      Purchases of term deposits                 (38,594)                (58,162)                  (2,787)               (77,975)
      Disposals of term deposits                  10,582                  15,947                       -                  31,460
      Additions to other assets                       (2)                     (3)                      -                     (16)
------------------------------------------------------------------------------------------------------------------------------------
                                                 (34,172)                (51,498)                  (3,322)               (61,748)

------------------------------------------------------------------------------------------------------------------------------------
 (Decrease) increase in cash
   and cash equivalents                             (443)                   (667)                    (541)                   458

Cash and cash equivalents,
   beginning of period                               747                   1,125                    1,723                     -

------------------------------------------------------------------------------------------------------------------------------------
Cash and cash equivalents,
   end of period                        $            304          $          458         $          1,182       $            458
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

See accompanying notes to unaudited consolidated financial statements.


                                      -4-

<PAGE>

LUMENON INNOVATIVE LIGHTWAVE
TECHNOLOGY, INC.
(a Development Stage Enterprise)
Notes to Consolidated Financial Statements
(Unaudited)

Three-month  periods ended September 30, 2000 and 1999 and period from inception
(March 2, 1998) to September 30, 2000 (in thousands of Canadian dollars,  except
per share amounts)

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

      In the opinion of management, the accompanying unaudited interim financial
      statements,  prepared in accordance with US generally accepted  accounting
      principles,  contain  all  adjustments  (consisting  of  normal  recurring
      accruals) necessary to present fairly the Corporation's financial position
      as at September 30, 2000,  June 30, 2000,  its results of  operations  and
      cash flows for the three months ended September 30, 2000 and 1999 and from
      inception to September 30, 2000.

      While management  believes that the disclosures  presented are adequate to
      make  the  information  not  misleading,   these  consolidated   financial
      statements and notes should be read in conjunction with the  Corporation's
      Consolidated Financial Statements at June 30, 2000.


1.    Organization and business activities:

      The  Corporation's  principal  business  activity  is to develop  products
      related to the Dense  Wavelength  Division  Multiplexing  market and other
      photonics markets.

      The  Corporation  is  subject to a number of risks,  including  successful
      development  and marketing of its  technology and attracting and retaining
      key  personnel.   The   Corporation   has  entered  into  the  process  of
      establishing its production facilities during the three-month period ended
      September 30, 2000. In order to achieve its business plan, the Corporation
      anticipates the need to raise additional capital.


2.    Molex agreements:

      (a)   Stock Restriction Agreement:

            As part of financing  arrangements  of 1999 with Molex  Incorporated
            ("Molex"),   the  Corporation   entered  into  a  stock  restriction
            agreement  whereby  no  primary  stockholders  can sell any share to
            competitors of Molex without  Molex's prior  consent.  The agreement
            includes  Right of First Refusal and  Preemptive  rights except that
            Lumenon can issue  6,000  units (one common  share and a warrant for
            the  purchase  of one  common  share at a price not less than  $1.32
            (US$0.90)  per share) at a price not less than $0.74  (US$0.50)  per
            unit  to  raise  capital  within  24  months  from  the  date of the
            agreement.

            Certain rights or  restrictions  might be terminated upon completion
            of a Public Sale or a Public Offering as defined in the agreement.

                                      -5-

<PAGE>


LUMENON INNOVATIVE LIGHTWAVE
TECHNOLOGY, INC.
(a Development Stage Enterprise)
Notes to Consolidated Financial Statements, Continued
(Unaudited)

Three-month  periods ended September 30, 2000 and 1999 and period from inception
(March 2, 1998) to September 30, 2000 (in thousands of Canadian dollars,  except
per share amounts)

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


2.    Molex agreement (continued):

      (b)   Teaming Agreement:

            Under  the  terms of a  teaming  agreement,  Molex is  committed  to
            purchase a certain  number of  photonic  devices of Lumenon  for the
            first twelve months.  After the twelve-month period, Molex will have
            the option to purchase  up to 50% of the excess  capacity of Lumenon
            and both Lumenon and Molex will share Molex's  profit upon resale of
            those devices. Under certain circumstances, Molex may have the right
            to manufacture  all components of the devices in return of a royalty
            as defined in the agreement.

3.    Property and equipment:
<TABLE>
<CAPTION>

--------------------------------------------------------------------------------------------------
                                                                                September 30, 2000
--------------------------------------------------------------------------------------------------

                                                                 Accumulated             Net book
                                                    Cost         depreciation               value
--------------------------------------------------------------------------------------------------

<S>                                             <C>               <C>                <C>
      Computer equipment and software           $    672          $     91           $      581
      Office equipment and fixtures                  782                57                  725
      Leasehold improvements                       1,550               140                1,410
      Pilot plant equipment and
         laboratory installation                   6,601             1,153                5,448
      Production equipment and laboratory
         installation                             10,852                 -               10,852

-------------------------------------------------------------------------------------------------
                                                $ 20,457          $  1,441           $   19,016
-------------------------------------------------------------------------------------------------
</TABLE>


      Cost and net book value of pilot plant and production equipment held under
      capital  leases amount to $1,528 and $1,395  respectively  as at September
      30, 2000.

      The  Corporation  is  in  the  process  of  establishing   its  production
      facilities.  No  depreciation  was  recorded  with  respect to  production
      equipment and laboratory installation.


                                      -6-

<PAGE>
LUMENON INNOVATIVE LIGHTWAVE
TECHNOLOGY, INC.
(a Development Stage Enterprise)
Notes to Consolidated Financial Statements, Continued
(Unaudited)

Three-month  periods ended September 30, 2000 and 1999 and period from inception
(March 2, 1998) to September 30, 2000 (in thousands of Canadian dollars,  except
per share amounts)

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


4.    Convertible notes:

      On July 25,  2000,  the  Corporation  closed  a  financing  involving  the
      issuance of $51,243  (US$35,000,000)  five-year  convertible notes bearing
      interest at 7.5% per annum.  Interest is payable upon the earlier to occur
      of the repayment or conversion of the notes.  The notes are convertible at
      any time into the  Corporation's  common stock at a conversion price based
      on the  closing  bid price of the common  stock at the time of  conversion
      with a floor of US$7 and a ceiling of US$25.

      The  investors  also received  five-year  common stock  purchase  warrants
      entitling  them to acquire a total of 5,000,800  shares  exercisable on or
      after  January 25, 2002 and expiring on July 25, 2005.  Exercise  price of
      the warrants is based on a formula  whereby such price may vary from US$10
      to US$30.  In  addition,  the  exercise  price will be lower than the fair
      market value except if the fair market value is equal or lower than US$10.

      Related debt issue costs amounted to $2,861.

      The Corporation  applied APB-14 ("Accounting for Convertible Debt and Debt
      Issued  with Stock  Purchase  Warrants")  and EITF 98-5  ("Accounting  for
      Convertible Securities with Beneficial Conversion Features or Contingently
      Adjustable  Conversion  Ratios").  As a result, the convertible notes were
      discounted by $34,394 and are presented net of the debt discount  which is
      amortized over the term of the notes. Interest expense with respect to the
      beneficial  conversion  feature of convertible  notes and  amortization of
      debt  discount was recorded in the amount of $20,960.  Additional  paid-in
      capital was  increased  by $51,243 as a result of the amount  allocated to
      the stock purchase warrants and the beneficial  conversion  feature of the
      notes.

                                      -7-

<PAGE>
LUMENON INNOVATIVE LIGHTWAVE
TECHNOLOGY, INC.
(a Development Stage Enterprise)
Notes to Consolidated Financial Statements, Continued
(Unaudited)

Three-month  periods ended September 30, 2000 and 1999 and period from inception
(March 2, 1998) to September 30, 2000 (in thousands of Canadian dollars,  except
per share amounts)

5.    Share capital:
<TABLE>
<CAPTION>

-----------------------------------------------------------------------------------------------------------
                                                                          September 30,            June 30,
                                                                                   2000                2000
-----------------------------------------------------------------------------------------------------------

<S>                                                                     <C>                      <C>
      Authorized:
            1,000,000 preferred shares, par value
               of US$0.001 per share
            100,000,000 common shares, par value
               of US$0.001 per share

      Issued and outstanding:
            35,452,739 common shares (June 30, 2000 - 32,970,039)       $           53           $    49
-----------------------------------------------------------------------------------------------------------
</TABLE>

      During the  three-month  period ended  September 30, 2000, the Corporation
      concluded the following share capital transactions:

      (a)   Issue of shares:

            2,482,700  common  shares  were issued for a cash  consideration  of
            $5,893 upon exercise of options and warrants.

      (b)   Stock option plan:

            Changes in  outstanding  options for the  three-month  period  ended
            September 30, 2000 were as follows:
<TABLE>
<CAPTION>

--------------------------------------------------------------------------------------------------------
                                                                                      Weighted average
                                                                Number          exercise price per share
--------------------------------------------------------------------------------------------------------

<S>                                                          <C>                <C>
            Options outstanding, June 30, 2000               2,277,150          $13.92 (US$9.24)
            Granted                                          1,105,000          $35.67 (US$23.67)
            Exercised                                         (144,500)         $1.53 (US$1.03)

--------------------------------------------------------------------------------------------------------
            Options outstanding, September 30, 2000          3,237,650          $21.90 (US$14.53)
--------------------------------------------------------------------------------------------------------
</TABLE>

            At September 30, 2000, 204,650  outstanding  options are exercisable
            and 3,033,000 outstanding options vest over a period of one to seven
            years.

                                      -8-

<PAGE>
LUMENON INNOVATIVE LIGHTWAVE
TECHNOLOGY, INC.
(a Development Stage Enterprise)
Notes to Consolidated Financial Statements, Continued
(Unaudited)

Three-month  periods ended September 30, 2000 and 1999 and period from inception
(March 2, 1998) to September 30, 2000 (in thousands of Canadian dollars,  except
per share amounts)

5.    Share capital:

      (c)   Warrants:

            The following warrants are outstanding at September 30, 2000:

-----------------------------------------------------------------------------
                   Warrants         Expiry date      Exercise price per share
-----------------------------------------------------------------------------

                     10,000        October 2000        $23.36 (US$15.50)
                     43,011       December 2000        $45.21 (US$30.00)
                    700,000           June 2001        $2.26 (US$1.50)
                     14,000           July 2003        $37.68 (US$25.00)
                  5,000,800           July 2005                       *

-----------------------------------------------------------------------------
                  5,767,811
-----------------------------------------------------------------------------

            *     The exercise price per share,  to be established in 18 months,
                  may vary from $15.07 (US$10.00) to $45.21  (US$30.00)  subject
                  to the then traded value of the stock (note 4).

6.    Functional currency and convenience translation:

      The functional currency of the Corporation is the Canadian dollar.

      US  dollar  amounts  presented  on  the  balance  sheets,   statements  of
      operations  and cash flows are provided for  convenience of reference only
      and are based on the closing  exchange rate at September  30, 2000,  which
      was $1.507 Canadian dollar per US dollar.

                                       -9-

<PAGE>
LUMENON INNOVATIVE LIGHTWAVE
TECHNOLOGY, INC.
(a Development Stage Enterprise)
Notes to Consolidated Financial Statements, Continued
(Unaudited)

Three-month  periods ended September 30, 2000 and 1999 and period from inception
(March 2, 1998) to September 30, 2000 (in thousands of Canadian dollars,  except
per share amounts)


7.    Commitments:

      (a)   Since July 1, 2000, the Corporation entered in new capital leases at
            interest rate varying from 11.75% to 13.96%.  Minimum lease payments
            under  capital  lease  agreements  for the next  four  years  are as
            follows:

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

            2001                                              $           277
            2002                                                          279
            2003                                                          236
            2004                                                            3

--------------------------------------------------------------------------------
                                                              $           795
--------------------------------------------------------------------------------


      (b)   As at September 30, 2000,  the  Corporation is committed to purchase
            equipment in the amount of $2,469 for which $1,852 was disbursed and
            recorded under deposits.

      (c)   In addition,  the  Corporation  is  committed  to acquire  equipment
            through  capital  leases in the  amount of $1,464  repayable  over a
            period of approximately three years.

      (d)   On July 21,  2000,  the  Corporation  entered  into a  non-exclusive
            license  agreement  with a third  party.  Under  the  terms  of this
            agreement,  Lumenon  is  committed  to pay  royalties  on  sales  of
            products as defined in the agreement.


                                      -10-

<PAGE>
LUMENON INNOVATIVE LIGHTWAVE
TECHNOLOGY, INC.
(a Development Stage Enterprise)
Notes to Consolidated Financial Statements, Continued
(Unaudited)

Three-month  periods ended September 30, 2000 and 1999 and period from inception
(March 2, 1998) to September 30, 2000 (in thousands of Canadian dollars,  except
per share amounts)

--------------------------------------------------------------------------------
8.    Supplemental cash flow disclosure:

      (a)   Net change in operating assets and liabilities:
<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------------------------------
                                             Three months             Three months           Three months                   From
                                                    ended                    ended                  ended           inception to
                                            September 30,            September 30,          September 30,          September 30,
                                                     2000                     2000                   1999                   2000
------------------------------------------------------------------------------------------------------------------------------------
                                                    (US$)                   (CAN$)                 (CAN$)                 (CAN$)
            Interest and sales
<S>                                       <C>                      <C>                   <C>                  <C>
               tax receivable             $        (1,071)         $        (1,613)      $           (136)    $           (1,979)
            Research tax credits
               receivable                             (75)                    (113)                   (38)                  (303)
            Prepaid expenses                          (26)                     (39)                    23                   (116)
            Accounts payable and
               accrued liabilities                    367                      554                    (80)                 1,444

------------------------------------------------------------------------------------------------------------------------------------
                                          $          (805)         $        (1,211)     $            (231)    $             (954)
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


      (b)   Non-cash investing and financing activities:

            Acquisition of property and equipment through capital leases amounts
            to $880 for the three- month period ended September 30, 2000.

            Capital  expenditures of $5,127 are included in accounts  payable at
            September 30, 2000.


9.    Subsequent events:

      (a)   On October 16, 2000,  $10,549  (US$7,000) of the principal amount of
            the  convertible  notes plus  interest were  converted  into 616,414
            common shares.

      (b)   In October  2000,  the  Corporation  granted  under its stock option
            incentive plan 352,500 options to certain employees for the purchase
            of 352,500 common shares at price varying from $23.92  (US$15.87) to
            $41.50 (US$27.54)




                                      -11-
<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.

                                        LUMENON INNOVATIVE LIGHTWAVE
                                        TECHNOLOGY,  INC.


                                        By: /s/ S. Iraj Najafi
                                           -------------------------------------
                                           S. Iraj Najafi
                                           President and Chief Executive Officer


                                        By:/s/ Vincent Belanger
                                           -------------------------------------
                                           Vincent Belanger
                                           Vice President Finance,
                                           Chief Financial Officer and
                                           Treasurer (Principal Financial
                                           Officer and Chief Accounting Officer)



Dated: November 16, 2000



                                      -12-