SECURITIES AND EXCHANGE COMMISSION
	Washington, D.C. 20549

	FORM 10-Q
(Mark One)
/X/ Quarterly report pursuant to Section 13 or 15(d) of the
Securities Act of 1934

For the quarterly period ended December 31, 2000 or

/ / Transition report pursuant to Section 13 or 15(d) of the
Securities Act of 1934

For the transition period from               to

Commission file number 2-80891-NY

	MODERN TECHNOLOGY CORP.

	(Exact Name of Registrant as Specified in its Charter)

Nevada							11-2620387

(State or other jurisdiction of		(I.R.S. Employer
Incorporation or Organization)		  Identification Number)

	P.O. Box 940007, Belle Harbor, New York 11694

(Address of Principal Executive Office)			(Zip Code)

	(718)318-0994

	(Registrant's Telephone Number, Including Area Code)

	240 Clarkson Avenue, Brooklyn, New York 11226

	(Registrant's Former Address)

Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of the
Securities and Exchange Act of 1934 during the preceding twelve
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 ninety days.
Yes / X /  No /  /

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

Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Section 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 /  /   No /  /

	APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the
issuer's classes of common stock, as of the latest practicable
date.  20,150,000
	10Q-1
















			MODERN TECHNOLOGY CORP.

			 FINANCIAL STATEMENTS

			  DECEMBER 31, 2000










			I N D E X





								Page


REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS	  	  1


CONSOLIDATED BALANCE SHEETS	 				  2


CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY	  		  3


CONSOLIDATED STATEMENTS OF OPERATIONS				4-5


CONSOLIDATED STATEMENTS OF CASH FLOWS	  			  6


NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS	 		7-10











	REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS




Board of Directors and Stockholders
MODERN TECHNOLOGY CORP.
Belle Harbor, New York

We have reviewed the consolidated balance sheet of MODERN TECHNOLOGY
CORP. as at December 31, 2000, and the related consolidated statements
of operations, stockholders' equity and cash flows for the three month
periods ended December 31, 2000 and 1999, in accordance with standards
established by the American Institute of Certified Public Accountants.

A review of interim financial information consists principally of
obtaining an understanding of the system for the preparation of interim
financial information, applying analytical review procedures to
financial data, and making inquiries of persons responsible for
financial and accounting matters.  It is substantially less in scope
than an examination in accordance with generally accepted auditing
standards, the objective of which is the expression of an opinion
regarding the financial statements taken as a whole.  Accordingly, we do
not express such an opinion.

Based on our review, we are not aware of any material modifications that
should be made to the consolidated financial statements for them to be
in conformity with generally accepted accounting principles.

We have previously audited, in accordance with generally accepted
auditing standards, the consolidated balance sheet as of June 30, 2000,
and the related consolidated statements of operations, stockholders'
equity and cash flows for the year then ended (not presented herein);
and in our report dated July 26, 2000, we expressed an unqualified
opinion on those financial statements.  In our opinion, the information
set forth in the accompanying balance sheet as of June 30, 2000 is
fairly stated in all material respects in relation to the consolidated
balance sheet from which it has been derived.



GREENBERG & COMPANY LLC

Springfield, New Jersey
February 7, 2001



								Page 1 of 10


		         MODERN TECHNOLOGY CORP.
	               CONSOLIDATED BALANCE SHEETS

                                        Dec. 31,	June 30,
                                          2000  	  2000
                                      (Unaudited)

	A S S E T S

CURRENT ASSETS
Cash and Cash Equivalents	          $721,313	$663,250
Other Current Assets	                     -0-	   5,000
                                           721,313	 668,250

EQUIPMENT - At Cost	                    15,405	  13,500
Less:  Accumulated Depreciation	           (11,458)	 (11,007)
                                             3,947	   2,493

OTHER ASSETS
Investments, At Cost	                    16,800	  16,800
Investments, At Equity	                   101,009	     -0-
Note Receivable	                               -0-	 100,000
Other Assets	                               503	     563
                                           118,312	 117,363

TOTAL ASSETS	                          $843,572	$788,106


	L I A B I L I T I E S   A N D   S T O C K H O L D E R S'   E Q U I T Y

CURRENT LIABILITIES
Accrued Expenses	                 $ 10,000	$ 10,000
Income Tax Payable	                   17,125	     -0-
  Total Current Liabilities	           27,125	  10,000

MINORITY INTEREST	                      300	     300

STOCKHOLDERS' EQUITY
Common Stock Par Value $.0001
  Authorized:  150,000,000 Shares
  Issued and Outstanding:  20,150,000
    Shares	                            2,015	   2,015
Paid-In Capital	                          495,161	 495,161
Retained Earnings	                  318,971	 280,630
                                          816,147	 777,806

TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY	                 $843,572	$788,106







See Accountants' Review Report and notes to the financial statements.


        									Page 2 of 10


	             MODERN TECHNOLOGY CORP.
	CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
	FOR THE PERIOD JULY 1, 1999 TO DECEMBER 31, 2000



                    Common Stock    			                 Total
                                Par			                 Stock-
                    # of	 Value	Paid-In	        Retained	 holders'
                  Shares	$.0001	Capital	        Earnings	 Equity


BALANCES AT
JULY 1, 1999	20,150,000	$2,015	$495,161	$319,846	$817,022

Net Income (Loss)
for the Year Ended
June 30, 2000	          	      	        	 (39,216)	 (39,216)

BALANCES AT
JUNE 30, 2000	20,150,000	 2,015	 495,161	 280,630	 777,806

Net Income (Loss)
for the Three
Months Ended
Dec. 31, 2000	          	      	        	  38,341	  38,341

BALANCES AT
DEC. 31, 2000
(Unaudited)	20,150,000	$2,015	$495,161	$318,971	$816,147
























See Accountants' Review Report and notes to the financial statements.


       										 Page 3 of 10


	                MODERN TECHNOLOGY CORP.
	        CONSOLIDATED STATEMENTS OF OPERATIONS
	                     (Unaudited)


                                             For The Three
                                             Months Ended
                                              December 31,
                                            2000  	  1999

REVENUES

Interest Income	                           $11,944	$ 12,070
                                            11,944	  12,070

EXPENSES

Officers Salaries	                     6,300	   1,800
Realized Loss - Trading Securities	     8,631	     -0-
General and Administrative Expenses	    11,839	  24,140
                                            26,770	  25,940

INCOME (LOSS) BEFORE TAXES	           (14,826)	 (13,870)

Income Tax Expense(Benefit) 	            (5,139)	  (6,762)


NET INCOME (LOSS)	                   $(9,687)	$ (7,108)


NET INCOME (LOSS) PER SHARE	                NIL  	   NIL


NUMBER OF WEIGHTED AVERAGE SHARES
OUTSTANDING                               20,150,000  20,150,000



















See Accountants' Review Report and notes to the financial statements.


   									 Page 4 of 10


	           MODERN TECHNOLOGY CORP.
	   CONSOLIDATED STATEMENTS OF OPERATIONS
	                 (Unaudited)


                                                     For The Six
                                                     Months Ended
                                                      December 31,
                                                  2000  	  1999

REVENUES

Interest Income	                                 $20,945	$ 21,012
Realized Gains - Trading Securities	          50,126	     -0-
Unrealized Gain - Trading Securities	          24,188	     -0-
                                                  95,259	  21,012

EXPENSES

Officers Salaries	  			   8,100	   3,400
Realized Loss - Trading Securities	           8,631	     -0-
General and Administrative Expenses	 	  23,062	  53,191
 						  39,793	  56,591

INCOME (LOSS) BEFORE TAXES	 		  55,466 	 (35,579)

Income Tax Expense(Benefit) 			  17,125 	  (6,723)


NET INCOME (LOSS)			         $38,341 	$(28,856)


NET INCOME (LOSS) PER SHARE	 		   NIL  	   NIL


NUMBER OF WEIGHTED AVERAGE SHARES
OUTSTANDING                                    20,150,000       20,150,000

















See Accountants' Review Report and notes to the financial statements.


    										Page 5 of 10


				MODERN TECHNOLOGY CORP.
			CONSOLIDATED STATEMENTS OF CASH FLOWS
					(Unaudited)
    									     For The Six
   									     Months Ended
    									      December 31,
  									  2000  	 1999
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)						        $ 38,341      $(28,856)
Adjustments to Reconcile Net
Income to Net Cash Provided By
Operating Activities:
Realized Gain on Investment	 				        (50,126)	   -0-
Realized Loss	  						          8,631	           -0-
Unrealized Gains	 						(24,188)	   -0-
  Depreciation and Amortization	     			                    451	           416
Changes in Assets and Liabilities:
   (Increase) Decrease in Other
  Current Assets	   						  5,000	         3,746
     (Increase) Decrease in Other Assets	     			     60	           -0-
(Increase) Decrease in Deferred Tax	    			            -0-	        (3,533)
(Decrease) Increase in Accrued
      Expenses and Taxes	    					    -0-	       (25,276)
(Decrease) Increase in Income Tax
  Payable	  							  17,125       (38,513)
Net Cash Provided By (Used In)
Operating Activities	  					          (4,706)      (92,016)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from Sale of Investment	 			         165,683	    -0-
Purchase of Equipment	  					          (1,905)	    -0-
Purchase of Investment at Equity				        (101,009)	    -0-
Capital Contribution - Minority Interest	    		             -0-	    300
Net Cash Provided By (Used In)
Investing Activities	 					          62,769	    300

Net (Decrease) Increase in Cash
and Cash Equivalents	 					          58,063        (91,716)

Cash and Cash Equivalents,
Beginning of Period	 					         663,250        759,898

CASH AND CASH EQUIVALENTS
END OF PERIOD							        $721,313       $668,182

Supplemental Disclosures of Cash Flow Information
   Cash Paid During Period For:
     				Taxes					$    -0-	$ 40,405
				Interest				$    -0-	$    -0-

Noncash investing and financial transactions
Conversion of notes receivable to
investment								$100,000	$    -0-





See Accountants' Review Report and notes to the financial statements.


         								Page 6 of 10


				MODERN TECHNOLOGY CORP.
		NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
		  FOR THE SIX MONTHS ENDED DECEMBER 31, 2000
					(Unaudited)

NOTE 1:	ORGANIZATION AND NATURE OF OPERATIONS

Modern Technology Corp. (Modern) is a Nevada corporation.  Modern
is engaged in aiding prospective clients in obtaining financing and
in providing managerial services to client companies.  Modern's
office is located in New York.

NOTE 2:	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

ACCOUNTING POLICIES

Modern Technology Corp.'s accounting policies conform to generally
accepted accounting principles.  Significant policies followed are
described below.

BASIS OF PRESENTATION

In April 1999 the Company formed a subsidiary named Excess
Materials Inc. (Excess).  Excess accounts are included in the
consolidated financial statements at December 31, 2000 and June 30,
2000.  Modern owns 70% of Excess.  Arthur Seidenfeld (Modern's
president) owns 10% of Excess, Anne Seidenfeld (Arthur's mother and
secretary/treasurer of Modern) owns 10% of Excess and a relative of
Mr. Seidenfeld owns 10% of Excess.

RECLASSIFICATIONS

Certain items from prior periods within the financial statements
have been reclassified to conform to current period
classifications.

CASH AND CASH EQUIVALENTS

Cash equivalents consist of highly liquid, short-term investments
with maturities of 90 days or less.  The carrying amount reported
in the accompanying balance sheets approximates fair value.

NOTE RECEIVABLE

During the year ended June 30, 1999 the Company purchased a
$100,000 convertible note in Omnicomm Systems, Inc. (Omnicomm).
The note carries a 10% annual interest rate and is convertible at
the Company's option into 80,000 shares of Omnicomm common stock.
The note matures in 2004.

During the three months ended September 30, 2000, the Company
exercised its right to convert the $100,000 convertible note in
Omnicomm to 80,000 shares of Omnicomm common stock.  The Company
sold all of Omnicomm common stock.  As of December 31, 2000, the
Company holds no Omnicomm common stock.





See Accountants' Review Report.
   								Page 7 of 10


			MODERN TECHNOLOGY CORP.
	NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
	 FOR THE SIX MONTHS ENDED DECEMBER 31, 2000
				(Unaudited)
				(Continued)

PROPERTY AND EQUIPMENT, At Cost

Renewals and betterments are capitalized; maintenance and repairs
are expensed as incurred.  Depreciation is calculated using the
straight line method over the asset's estimated useful life, which
generally approximates 5 years.

ESTIMATES IN FINANCIAL STATEMENTS

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

INCOME TAXES

The Company accounts for income taxes in accordance with Statement
of Financial Accounting Standards ("SFAS") No. 109, "Accounting for
Income Taxes."  SFAS 109 has as its basic objective the recognition
of current and deferred income tax assets and liabilities based
upon all events that have been recognized in the financial
statements as measured by the provisions of the enacted tax laws.

Valuation allowances are established when necessary to reduce
deferred tax assets to the estimated amount to be realized.  Income
tax expense represents the tax payable for the current period and
the change during the period in the deferred tax assets and
liabilities.

ADVERTISING

Advertising costs are expensed as incurred.  Advertising expense
for the six months ended December 31, 2000 and 1999 was $2,345 and
$-0-, respectively.

NOTE 3:	CONCENTRATIONS OF CREDIT RISK

The Company's financial instruments that are exposed to
concentrations of credit risk consist primarily of cash.

The total cash balances are insured by F.D.I.C. up to $100,000 per
bank.  The Company had cash and cash equivalents balances of
$721,313 on deposit with three institutions at December 31, 2000
that exceeded the balance insured by the F.D.I.C. in the amount of
$719,372.

NOTE 4:	MARKETABLE SECURITIES

During the quarter ended September 30, 2000, the  investment in
Omnicomm Systems, Inc. of 32,250 shares was considered a trading
security in accordance with Financial Accounting Standard (FAS)

See Accountants' Review Report.
   										Page 8 of 10


			MODERN TECHNOLOGY CORP.
	NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
	  FOR THE SIX MONTHS ENDED DECEMBER 31, 2000
				(Unaudited)
				(Continued)

115.  Omnicomm shares are traded on the NASD over the counter
bulletin board system.  The cost of these shares was $40,312.
During the quarter ended September 30, 2000, the total unrealized
gain was $24,188.  During the quarter ended December 31, 2000,
Modern sold the remaining shares of Omnicomm.

NOTE 5:	INVESTMENT IN EQUITY SECURITIES (At Cost)

Investments in Non Marketable Equity Securities consist of the
following:			 	Dec. 31,	June 30,
  					2000  	         2000
Investment in 360,000
restricted shares in
Daine Industries, Inc.		         $15,900	$15,900

Investments in other
restricted securities	   	             900	    900
					 $16,800	$16,800

NOTE 6:	INVESTMENT IN EQUITY SECURITIES (At Equity)

Investments in Non Marketable Equity Securities consist of the
following:
					Dec. 31	        June 30,
  					2000  	         2000
Investment in 20% of total
shares in Scientio Inc.		        $101,009	 $-0-
					$101,009	 $-0-

Since Modern owns 20% of Scientio Inc., the investment is accounted
for under the equity method.  Operations of Scientio Inc. have not
started and there have been no adjustments for the equity in
earnings or losses in Scientio.

NOTE 7:	INCOME TAX EXPENSE (BENEFIT)

The provision for income taxes is comprised of the following:
					12/31/00	12/31/99
  Current				$17,125	        $   405
  Deferred	   			    -0- 	  (7,128)
					$17,125	         $(6,723)

The provision for income taxes differs from the amount computed by
applying the statutory federal income rate as follows:
					12/31/00	12/31/99
  Expected statutory amount	         $10,131	 $   -0-
  Net operating loss	  	             -0- 	  (7,128)
  Unrealized gains	  	             -0-	     -0-
  State income taxes, net
   of federal benefit	  	           6,994	     405
					 $17,125 	 $(6,723)




See the Accountants' Review Report.		          Page 9 of 10


	MODERN TECHNOLOGY CORP.
	NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
	FOR THE SIX MONTHS ENDED DECEMBER 31, 2000
	(Unaudited)
	(Continued)

Deferred income taxes reflect the net tax effects of temporary
differences between the carrying amounts of assets and liabilities
for financial reporting purposes and amounts used for income tax
purposes and the impact of available net operating loss
carryforwards.  The deferred tax assets at December 31, 2000 and
June 30, 2000 relate to Excess, the Company's 70% owned subsidiary.
 Since the accounts of Excess are not allowed to be consolidated
with Modern for tax purposes and Excess has generated losses since
inception, the deferred tax assets associated with these losses
have been fully reserved in the valuation allowance.

The tax effect of significant temporary differences, which comprise
the deferred tax assets are as follows:

					12/31/00	  6/30/00
Deferred tax assets:
  Net operating loss
   carry forwards			$18,000	          $18,000
  Valuation allowance		        (18,000)	  (18,000)
  Net deferred tax (assets)	         $   -0-	  $   -0-

The current net operating loss of approximately $39,000, which
emanates from Excess, expires in the year ended June 30, 2020.  The
tax benefit has been fully reserved due to a lack of consistent
operating profitability.

NOTE 8:	POSTRETIREMENT BENEFITS

The company does not maintain any employee benefits currently.  The
company does not maintain a plan for any postretirement employee
benefits, therefore, no provision was made under FAS's 106 and 112.

NOTE 9:	RELATED PARTY TRANSACTIONS

Arthur Seidenfeld, President and a director of the Company, owns
14.5% of the outstanding shares of Daine Industries, Inc.  Anne
Seidenfeld, Treasurer, Secretary and a director of the Company,
owns approximately 8% of the outstanding shares of Daine
Industries, Inc.  Anne Seidenfeld is Arthur Seidenfeld's mother.
There were no related party transactions.

NOTE 10:  INTERIM FINANCIAL REPORTING

The unaudited financial statements of the Company for the period
July 1, 2000 to December 31, 2000 have been prepared by management
from the books and records of the Company, and reflect, in the
opinion of management, all adjustments necessary for a fair
presentation of the financial position and operations of the
Company as of the period indicated herein, and are of a normal
recurring nature.




See Accountants' Review Report.
      								Page 10 of 10


	Part 1.  Financial Information

Item 2.	Management's Discussion and Analysis of Financial Condition and
Results of Operations.

Modern Technology Corp. ("The Registrant") is engaged in aiding
prospective clients in obtaining financing and in providing management
services to client companies.

Presently, the Registrant is seeking out joint venture candidates
and companies for which it can aid in providing financing and managerial
services although no assurances can be given that the Registrant will be
successful in gaining new clients in the near future.

During March 1999, the Registrant established a subsidiary entitled
Excess Materials, Inc. ("Excess Materials").  Excess Materials is an
electronic internet marketplace for corporate buyers and sellers of food
commodities, equipment, metals, industrial supplies, animal hides and textile
items.  Excess Materials will derive revenues from commissions paid by the
seller on completed transactions.  To date Excess Materials is in the
development stage.

It offers a business service matching corporate buyers and sellers
only.  It does not handle sales to individual consumers.  Company operations
began in May 1999.  The Registrant owns 70% of the shares of Excess
Materials, and the Registrant's president and treasurer-secretary (Arthur and
Anne Seidenfeld) each own 10% of the shares of Excess Materials.

During the six months ended December 31, 2000, the Registrant had
net income of $38,341 as compared with a net loss of $28,856 during the six
months ended December 31, 1999.  For the six months ended December 31, 2000,
total revenues amounted to $95,259, as compared with total revenues of
$21,012 generated during the six months ended December 31, 1999.  Expenses
for the six months ended December 31, 2000 amounted to $39,793, as compared
with total expenses of $56,591 for the six months ended December 31, 1999.
During the six months ended December 31, 2000, the Registrant generated gains
from the sale of Omnicomm Systems, Inc. shares amounting to $74,314 which
resulted in the gain for the six month period mentioned in 2000.  The loss
generated during the six months ended December 31, 1999 can be attributed to
expenses related to the Registrant's subsidiary, Excess Materials Inc.
General and administrative expenses for the six months ended December 31,
2000 can be attributed primarily to legal and accounting fees.

During the six months ended December 31, 2000, the Registrant's
treasurer-secretary, Anne Seidenfeld, received a salary of $3,600.  During
the six months ended December 31, 1999, she received a salary of $3,400.  The
Registrant's president, Arthur Seidenfeld received a salary of $4,500 for the
six months ended December 31, 2000 and no salary for the six months ended
December 31, 1999.  The cash and cash equivalent balances along with holdings
of U.S. Treasury Obligations of the Company as of December 31, 2000 and June
30, 2000 were $721,313 and $663,250 respectively.

Coral Development Corp ("the Company") was incorporated under the
laws of Delaware on November 19, 1996 by Modern Technology Corp (MTC).
During December 1996, the Registrant purchased 403,000 shares of Coral
Development Corp. for $30,300.



  The Company originally completed a "blind pool/blank check" offer
pursuant to Rule 419 by having MTC distribute Company shares as a dividend to
MTC shareholders.  On July 22, 1998 it signed an agreement with OmniComm
Systems Inc. (OmniComm) whereby the Company and OmniComm would merge and the
Company would issue 940,000 shares to the shareholders of OmniComm in
exchange for all their shares (which are all the outstanding shares of
OmniComm).  Due to time limitations the Rule 419 distribution was not
completed.  However, the Company, OmniComm and MTC agreed to merge as planned
and subsequently to distribute the Coral shares as a dividend to MTC
shareholders.  As the Company is no longer a "blind pool/blank check" due to
the combination with OmniComm, this distribution was made without compliance
with Rule 419 but was accompanied by a Form 10-SB filed on December 22, 1998.
 The Company shares owned by MTC were distributed to MTC shareholders on the
basis of one Coral share for each fifty (50) MTC shares.

OmniComm is an information and technology integration company
located in Coconut Grove, Florida.  The Company provides customized,
comprehensive offering of dynamic web and data base applications with its
expertise in designing and configuring networks.

During February 1999, the Registrant purchased a $100,000
convertible note in Omnicomm.  The note carries a 10% interest rate and is
convertible at the Registrant's option into 80,000 shares of Omnicomm
(exercisable at $1.25 each).  A private placement of notes of Omnicomm was
completed raising approximately $800,000.  A majority of the noteholders can
demand registration of the shares accompanying these notes.  The notes mature
on June 30, 2004.  Omnicomm announced the closing of a private placement of
Preferred Convertible shares totaling $4.1 million.  Omnicomm will use the
capital to fund global market development and technology
investment/acquisition.  The note was converted into 80,000 shares of
Omnicomm.  As of December 31, 2000, the Registrant sold all 80,000 shares of
Omnicomm.

The Registrant has signed an agreement on December 8, 2000 to
invest $188,500 in exchange for 403,000 shares of Scientio Inc.,
("Scientio") a United Kingdom based development stage company engaged in
developing a line of software products (XML products).  The shares received
by the Registrant represents a 20% ownership interest in Scientio.  Scientio
is a newly formed U.S. company established in the state of Delaware with
operations conducted in the United Kingdom.  Scientio has not generated any
revenues from its inception (in December 2000) through December 31, 2000.

As part of the agreement, Scientio intends to register the shares
owned by the Registrant under the Securities Act, for distribution and
trading.  Upon the effective date of the proposed Registration Statement, the
Registrant intends to distribute its 403,000 share position in Scientio to
its shareholders in a transaction similar to the Omnicomm distribution
discussed earlier in this management's discussion.  The Registrant will cover
registration costs and expenses in connection with the preparation and filing
of the proposed registration statement of the Scientio shares.

The investment of $188,500 by the Registrant will be used by
Scientio to complete and test its initial XML software products and enable
Scientio to begin a marketing program.  The proposed XML Miner and XML Rule
products are targeted to software developers as they relate to the field of
data mining.  Through December 31, 2000, the Registrant has invested $100,000
with the remaining $88,500 to be paid within 4-6 months of the date of the
agreement.  No assurances can be given that Scientio's XML software products
will be successfully received by software developers worldwide.



	Part 2.  Other Information


Item 1.	Legal Proceedings.  None.


Item 2.	Changes in Securities.  None.


Item 3.	Defaults upon Senior Securities.  None.


Item 4.	Submission of Matters to a Vote of Security Holders.  None.


Item 5.	Other Materially Important Events.  None.


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


	SIGNATURES

Pursuant to the requirements of the Securities Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


	MODERN TECHNOLOGY CORP.


	By: Arthur J. Seidenfeld
	President, Chief Executive and
	Chief Financial Officer
	February 10, 2001