SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

[Mark One]

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly
period ended: June 30, 1999

[ ]  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: 0-25203

OMNICOMM SYSTEMS, INC.
(Name of small business issuer in its charter)

             Delaware              11-3349762
     (State of incorporation) (IRS employer Ident. No.)

3250 Mary Street, #307, Miami, FL.             33313
 (Address of principal office)               (Zip Code)

Registrant's telephone number: (305) 448-4700

     Indicate by check mark whether the Registrant: (1) has
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_____

     The number of shares outstanding of each of the
issuer's classes of equity as of June 30, 1999: 1,679,377
common stock $.001 par value

OMNICOMM SYSTEMS, INC.

Part I - Financial Information                    Page

Item 1.
Consolidated Balance Sheet -
  June 30, 1999 and December 31, 1998                1

Consolidated Statements of Shareholders' Equity      2
  January 1, 1998 to June 30, 1999

Consolidated Statements of Operations -
  Three and six months ended June 30, 1999 and 1998  3-4

Consolidated Statement of Cash Flows -
  Six months ended June 30, 1999 and 1998            5

Notes to Financial Statements                        6-13

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

Part II - 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 Information

Item 6,   Exhibits and Reports on Form 8-K

Signature


















                 OMNICOMM SYSTEMS, INC.

                  FINANCIAL STATEMENTS

                      JUNE 30, 1999






















                            I N D E X





                                                            Page



CONSOLIDATED BALANCE SHEETS                                   1


CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT)     2


CONSOLIDATED STATEMENTS OF OPERATIONS                        3-4


CONSOLIDATED STATEMENTS OF CASH FLOWS                         5


NOTES TO THE FINANCIAL STATEMENTS                            6-13

                        OMNICOMM SYSTEMS, INC.
                      CONSOLIDATED BALANCE SHEETS

                              A S S E T S
                                             June 30,
                                               1999     December 31,
                                           (Unaudited)      1998
CURRENT ASSETS
  Cash                                     $   73,932    $   44,373
  Accounts Receivable                          40,173        77,188
  Inventory                                     1,685         4,240
  Due from Placement Agent                     12,431           -0-
  Total Current Assets                        128,221       125,801

PROPERTY AND EQUIPMENT - Net                   55,214        33,352

OTHER ASSETS
  Stockholder Loans                             8,406         3,406
  Intangible Assets, net                      227,118       163,276
  Goodwill, net                               317,110       396,387
  Other Assets                                  1,800         9,300

TOTAL ASSETS                               $  737,869    $  731,522

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

CURRENT LIABILITIES
  Accounts Payable and Accrued Expenses    $  301,223    $  286,478
  Notes Payable - Current                     112,500       262,500
  Sales Tax Payable                             9,880        39,835
  Due to Factoring Agent                       96,527       139,012
  Total Current Liabilities                   520,130       727,825

Notes Payable - Long Term                     182,500       182,500
Convertible Notes                             862,500           -0-

Total Liabilities                           1,565,130       910,325

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY (DEFICIT)
  Preferred Stock - 10,000,000 shares
    authorized, none issued and
    outstanding at $.001 par value
  Common Stock - 20,000,000 shares
    authorized, 1,679,377 and 1,343,000
    issued and outstanding, respectively,
    at $.001 par value                        188,999       132,604
  Retained Earnings (Deficit)              (1,016,010)     (311,407)
  Stock Subscription Receivable                  (250)          -0-
                                             (827,261)     (178,803)

TOTAL LIABILITIES AND SHAREHOLDERS'
  EQUITY (DEFICIT)                         $  737,869    $  731,522

The accompanying notes are an integral part of these financial
statements.
                                                    Page 1 of 13
                           OMNICOMM SYSTEMS, INC.
          CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT)
               For The Period January 1, 1998 to June 30, 1999



                                                                      Total
                                                                     Share-
                       Common Stock       Stock Sub-  Retained      holders'
                     Number       $.001    scription  Earnings       Equity
                    of Shares     Value   Receivable  (Deficit)    (Deficit)

JANUARY 1, 1998     1,002,250   $    187    $ -0-     $   (16,040) $ (15,853)

Issuance of
Common Stock          199,750         63                                  63

Acquisition of
Education Navigator,
Inc.                  141,000    132,354                             132,354

Net Income (Loss)
for the Year Ended
December 31, 1998                                        (295,367)  (295,367)

BALANCES AT
DECEMBER 31, 1998   1,343,000    132,604                 (311,407)  (178,803)

Issuance of
Common Stock          250,000        250    (250)                        -0-

Issuance of Common
Stock for Services     86,377     56,145                              56,145

Net Income (Loss) for
the six months ended
June 30, 1999                                            (704,603)  (704,603)

BALANCES AT
JUNE 30, 1999
(Unaudited)         1,679,377   $188,999   $(250)     $(1,016,010) $(827,261)













The accompanying notes are an integral part of these financial statements.


                                                             Page 2 of 13
                          OMNICOMM SYSTEMS, INC.
                   CONSOLIDATED STATEMENTS OF OPERATIONS
                                (Unaudited)

                                            For the three months ended
                                                     June 30,
                                                1999           1998

REVENUES - SALES, Net                        $ 383,679      $758,756

COST OF SALES                                  409,233       507,689

GROSS MARGIN (LOSS)                            (25,554)      251,067

OTHER EXPENSES
  Depreciation and Amortization                 70,168           -0-
  Interest Expense                              20,608           800
  Salaries and Wages                           128,331        44,563
  Factoring Fees                                   632         9,651
  Rent                                          12,181         7,977
  Independent Consultants                      160,904        18,967
  Selling, General and
   Administrative                              234,617        82,157

Income (Loss) Before Taxes                    (652,995)       86,952

Income Tax Expense (Benefit)                       -0-        33,306

NET INCOME (LOSS)                            $(652,995)     $ 53,646

Net Income (Loss) Per Share                    $(.41)         $.04

Weighted Average Number of
Shares Outstanding                           1,604,390      1,203,549




















The accompanying notes are an integral part of these financial statements.


                                                            Page 3 of 13
                          OMNICOMM SYSTEMS, INC.
                   CONSOLIDATED STATEMENTS OF OPERATIONS
                                (Unaudited)

                                             For the six months ended
                                                     June 30,
                                                1999           1998

REVENUES - SALES, Net                        $ 912,401      $952,741

COST OF SALES                                  634,524       601,825

GROSS MARGIN (LOSS)                            277,877       350,916

OTHER EXPENSES
  Depreciation and Amortization                139,396           -0-
  Interest Expense                              29,439         2,200
  Salaries and Wages                           231,266        51,009
  Factoring Fees                                 4,500         9,651
  Rent                                          27,554        15,672
  Independent Consultants                      211,451        26,467
  Selling, General and
   Administrative                              338,874        94,812

Income (Loss) Before Taxes                    (704,603)      151,105

Income Tax Expense (Benefit)                       -0-        47,000

NET INCOME (LOSS)                            $(704,603)     $104,105

Net Income (Loss) Per Share                    $(.46)         $.09

Weighted Average Number of
Shares Outstanding                           1,532,428      1,168,568




















The accompanying notes are an integral part of these financial statements.


                                                            Page 4 of 13
                          OMNICOMM SYSTEMS, INC.
                   CONSOLIDATED STATEMENTS OF CASH FLOWS
                                (Unaudited)

                                             For the six months ended
                                                     June 30,
                                               1999           1998
CASH FLOWS FROM OPERATING ACTIVITIES
 Net Income (Loss)                           $(704,603)     $104,105
 Adjustment to Reconcile Net Income
   to Net Cash Provided By (Used In)
   Operating Activities:
  Depreciation and Amortization                139,396           -0-
  Change in Assets and Liabilities,
   net of effects of acquisition of
   Education Navigator Inc (EdNav):
   (Increase) Decrease in Accounts
     Receivable                                 37,015       (72,056)
   (Increase) Decrease in Inventory              2,555           -0-
   (Increase) Decrease in Due from
     Placement Agent                           (12,431)          -0-
   (Increase) Decrease in Other Assets           2,500        13,923
   Increase (Decrease) in Accounts
     Payable and Accrued Expenses               14,745        28,260
   Increase (Decrease) in Sales
     Tax Payable                               (29,955)        3,622
   Increase (Decrease) in Due to
     Factoring Agent                           (42,485)          -0-
 Net Cash Provided By (Used In)
  Operating Activities                        (593,263)       77,854

CASH FLOWS FROM INVESTING ACTIVITIES
 Purchase of Equipment                        (26,198)           -0-
 Net Cash (Used In) Investing Activities      (26,198)           -0-

CASH FLOWS FROM FINANCING ACTIVITIES
 Net Proceeds from Convertible Notes           742,875           -0-
 (Payments of) Notes Payable                  (150,000)      (50,000)
 Issuance of Common Stock                       56,145           -0-
 Net Cash Provided By (Used In)
   Financing Activities                        649,020       (50,000)

Net Increase (Decrease) in Cash and
 Cash Equivalents                               29,559        27,854

Cash and Cash Equivalents at
 Beginning of Period                            44,373        16,077

CASH AND CASH EQUIVALENTS AT
 END OF PERIOD                               $  73,932      $ 43,931


Supplemental Disclosures of Cash Flow Information:
 Cash Paid During the Period for:
  Income Tax Paid                            $     -0-      $    -0-
  Interest Paid                              $   1,532      $  2,200


The accompanying notes are an integral part of these financial statements.


                                                            Page 5 of 13
                        OMNICOMM SYSTEMS, INC.
        NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
                              (Unaudited)

NOTE 1:  ORGANIZATION AND NATURE OF OPERATIONS

         OmniComm Systems, Inc. (the Company) formerly The Premisys
         Group, Inc. was incorporated in Florida in February 1997.  The
         Company is a computer systems integrator providing services and
         hardware sales for the installation of local and wide area
         networks.  The Company's customers are located throughout North
         America.

         In addition, the Company is developing a web based database
         application for the collection, compilation, and validation of
         clinical data over the internet.  The application is called
         TrialMaster.

NOTE 2:  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         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.

         CONSOLIDATION

         During the period from July 1, 1998 through December 31, 1998
         the accounts of the Company's wholly owned subsidiary,
         Omnicommerce Systems Inc. (Omnicommerce) were included in the
         consolidated financial position and results of operations and
         cash flows.  Omnicommerce was formed in July 1998 for the
         purpose of acquiring Education Navigator, Inc. (See Note 3,
         Acquisition.)  All significant intercompany transactions have
         been eliminated in consolidation.

         ACCOUNTS RECEIVABLE

         Accounts receivable are judged as to collectibility by
         management and an allowance for bad debts is established as
         necessary.  As of each balance sheet date, no reserve was
         considered necessary.

         COMMON STOCK

         During the period January 1, 1998 to December 31, 1998 the
         Company had authorized common stock of 10,000,000 shares with
         no par value.  On February 17, 1999 Omnicomm shareholders
         exchanged all of their issued and outstanding common stock for
         Coral Development Corp (Coral) common stock at the ratio of
         3.129 Omnicomm shares for one share of Coral in a reverse
         merger (see footnote 10.)







                                                           Page 6 of 13
                        OMNICOMM SYSTEMS, INC.
        NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
                              (Unaudited)
                              (Continued)

         Concurrently, Omnicomm changed its common stock from no par to
         $.001 per share and increased the number of authorized shares
         from 10,000,000 to 20,000,000.  All share and per share
         information has been restated retroactively for all periods to
         include the equivalent number shares exchanged in the
         transaction and the redenomination of par value.

         ADVERTISING

         Advertising costs are expensed as incurred.

         INTANGIBLE ASSETS AND GOODWILL

         Included in Intangible Assets are the following assets:

                                            June 30, 1999
                                                 Accumulated
                                        Cost     Amortization
         Covenant not to compete      $120,000     $ 60,000
         Software development costs     87,500       29,167
         Organization costs                539          270
         Debt acquisition costs        119,625       11,109
                                      $327,664     $100,546

                                         December 31, 1998
                                                 Accumulated
                                        Cost     Amortization
         Covenant not to compete      $120,000     $30,000
         Software development costs     87,500      14,583
         Organization costs                539         180
         Debt acquisition costs            -0-         -0-
                                      $208,039     $44,763

         The covenant not to compete and the software development costs
         were acquired as a result of the acquisition of EdNav (see Note
         3).  The covenant is for a two year period and is being
         amortized ratably over that time.  The software development
         costs were capitalized and are being amortized ratably over a
         three year period as that is the expected life of the various
         products.

         During the first six months of 1999, the Company issued
         Convertible Notes totaling $862,500.  The fees of $119,625
         associated with these notes are being amortized ratably over
         the term of the notes, which is five years.  During the first
         six months of 1999, the amortization was $11,109.

         Included in Goodwill, as a result of the EdNav acquisition (see
         Note 3), at June 30, 1999 and December 31, 1998 is the cost of
         $475,665 and accumulated amortization of $158,555 and $79,278,
         respectively.  The goodwill is amortized ratably over a three
         year period.




                                                            Page 7 of 13
                        OMNICOMM SYSTEMS, INC.
        NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
                              (Unaudited)
                              (Continued)

         CONCENTRATION OF CREDIT RISK

         Financial instruments that potentially subject the Company to
         concentration of credit risk are accounts receivable.  Major
         customers are as follows:
                                    For the six months ended
                              June 30, 1999          June 30, 1998
                                       % of                    % of
          Customer       Sales $    Total Sales   Sales $   Total Sales
          Commercial
           Services Inc  $742,802       81%       $610,309       64%
          Office Depot
           Inc           $ 94,958       10%       $ 37,889        4%
          Keen Battle    $    -0-                 $105,055       11%

          The Company performs ongoing credit evaluations of its
          customers but generally does not require collateral to support
          customer receivables.  The loss of any one of these customers
          could have a material adverse effect on the financial
          condition of the company.

          PROPERTY AND EQUIPMENT, At Cost

          Property and equipment consists of the following:

                            December 31, 1998      June 30, 1999
                                   Accumulated          Accumulated
                           Cost    Depreciation  Cost   Depreciation
          Computer and
           office
           equipment      $33,274      $4,636   $59,472     $8,619
          Office
           furniture        4,950         236     4,950        589
                          $38,224      $4,872   $64,422     $9,208

          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 is 5 years for
          equipment and 7 years for office furniture.

          Depreciation expense for for the six months ended June 30,
          1999 and 1998 was $4,336 and $-0- respectively.

          REVENUE RECOGNITION POLICY

          The company recognizes sales, for both financial statement
          purposes and for tax purposes, when the products are shipped
          and when services are provided.






                                                        Page 8 of 13
                        OMNICOMM SYSTEMS, INC.
        NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
                              (Unaudited)
                              (Continued)

          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.

          STOCK OPTION PLAN

          In 1998 the Company initiated a stock option plan.  The Plan
          provides for granting Incentive Stock Options, Nonqualified
          Stock Options, Stock Appreciation Rights, Restricted Stock
          Awards, Phantom Stock Unit Awards and Performance Share Units.
          In 1998 the Company granted an option to an employee (see Note
          3., Acquisition) to purchase 85,000 shares of common stock.
          The option is exercisable after one year.  No compensation
          expense was recognized during 1998.

          During the second quarter of 1999, the Company issued 86,377
          common shares to employees and advisors under its stock bonus
          arrangement.  The Company adopted SFAS 123 to account for its
          stock based compensation plans.  SFAS 123 defines the "fair
          value based method" of accounting for stock based
          compensation.  Under the fair value based method, compensation
          cost is measured at the grant date based on the value of the
          award and is recognized over the service period.  In
          accordance with this method, the Company recognized expense of
          $56,145 during the second quarter of 1999.

NOTE 3:   ACQUISITION

          On June 26, 1998 the Company acquired all of the outstanding
          common stock of Education Navigator, Inc. (EdNav).  The
          purchase has been accounted for under the purchase method in
          accordance with APB Opinion 16.  The Company paid the selling


                                                        Page 9 of 13

                        OMNICOMM SYSTEMS, INC.
        NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
                              (Unaudited)
                              (Continued)

          stockholders of EdNav $600,000 ($75,000 downpayment and
          $525,000 in a promissory note) and issued 441,180 shares of
          common stock of the Company to the selling stockholders EdNav.
          The Company valued these shares at $.30 each based principally
          on the earnings potential of the combined operations.
          Therefore, the total purchase price was $732,354.

          The Company also granted a stock option to one selling
          stockholder to purchase 85,000 shares of the Company for $.60
          per share.  The option is pursuant to a stock option plan
          (which has 3,000,000 shares reserved under the plan) and is
          exercisable over the next three years at 14,166 shares, 28,334
          shares and 42,500 shares, respectively.

          EdNav is an Internet company that has developed and is
          developing dynamic web applications for business.  The
          acquisition of EdNav is accounted for as under the purchase
          method.  All results of EdNav's operations are included in the
          financial statements from June 26, 1998 forward.  The
          acquisition resulted in $475,665 recorded as goodwill, which
          will be amortized ratably over 3 years.

          The fair value of the assets acquired were as follows:

           Cash                                 $  7,500
           Accounts receivable                    13,945
           Computer and office equipment          27,744
           Covenant not to compete               120,000
           Software developed                     87,500
           Goodwill                              475,665
                                                $732,354

          The following table shows the unaudited results of operations
          on a pro forma basis for the period presented as though the
          companies had combined at the beginning of the period.  This
          information is presented for informational purposes only and
          does not purport to be indicative of the results of operations
          that actually would have resulted if the acquisition had been
          consummated on January 1, 1998 nor which may result from
          future operations.

                                               1/1/98-6/30/98
          Revenues                                $1,038,782
          Income (Loss) before
           extraordinary items                        19,873
          Net Income (Loss)                           19,873
          Earnings (Loss)
           Per Share                                   $(.02)
          Weighted Average
           Shares Outstanding                      1,309,708






                                                       Page 10 of 13
                        OMNICOMM SYSTEMS, INC.
        NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
                              (Unaudited)
                              (Continued)

          Proforma adjustments to the results of operations are as
          follows:
                                                  1/1/98-6/30/98
          Depreciation                                 $  2,774
          Amortization:
           Software developed                            14,583
           Covenant not to Compete                       30,000
           Goodwill                                      79,278
                                                        126,635
          EdNav net income (Loss):
           1/1/98-6/30/98                                   403

          Proforma Adjustment                          $126,232

NOTE 4:   NOTES PAYABLE

          At December 31, 1998 the Company owed $445,000 to the selling
          stockholders of Ed Nav (see Note 3).  The notes are payable
          over the next two years and bear interest at 5.51% annually.
          The amount payable in the fiscal year 1999 is $262,500 and the
          amount due in the fiscal year 2000 is $182,500.  At June 30,
          1999 the Company owed a total of $295,000 on these notes.

NOTE 5:   CONVERTIBLE NOTES

          During the first quarter of 1999, the Company issued
          Convertible Notes Payable in the amount of $862,500 pursuant
          to a Confidential Private Placement Memorandum.  There were
          costs of $119,625 associated with this offering.  The Company
          also granted the agent the option to purchase 250,000 common
          shares at $.001.  The agent exercised the option.  The net
          proceeds to the Company was $742,875.  The notes bear interest
          of ten (10) percent annually, payable semi-annually.  The
          notes are convertible after maturity, which is five (5) years,
          into shares of common stock of the Company at $1.25 per share,
          including registration rights.

NOTE 6:   COMMITMENTS AND CONTINGENCIES

          The company is currently in a lease for office space requiring
          minimum annual base rental payments for the fiscal periods
          shown as follows:
                         1999      $ 25,747
                         2000        26,552
                         2001        27,357
                         2002        28,161
                         2003        28,966
                         Total     $136,783








                                                       Page 11 of 13
                        OMNICOMM STSTEMS, INC.
        NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
                              (Unaudited)
                              (Continued)

          In addition to annual base rental payments, the company must
          pay an annual escalation for operating expenses as determined
          in the lease.

NOTE 7:  INCOME TAXES

         Income taxes are accrued at the statutory U.S. and state income
         tax rates.

         Income tax expense is as follows:
                                                  6/30/99    6/30/98
         Current tax expense (benefit):
           Income tax at statutory rates         $    -0-   $47,000

         Deferred tax expense (benefit):
           Amortization of Goodwill and
            Covenant                              (25,038)      -0-
           Operating Loss Carryforward            (10,154)      -0-
                                                   35,192    47,000
         Valuation allowance                      (35,192)      -0-
         Total Tax Expense (Benefit)             $    -0-   $47,000

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

                                                  6/30/99    12/31/98
           Deferred tax assets:
             Amortization of Intangibles         $  73,457  $  48,419
             Operating loss carryforwards           69,097     58,943
              Gross deferred tax assets            142,554    107,362
             Valuation allowance                  (142,554)  (107,362)
           Net deferred tax assets               $     -0-  $     -0-

         During 1998 the Company incurred a net operating loss (NOL) for
         income tax purposes of approximately $170,000.  This loss is
         allowed to be offset against future income until the year 2018
         when the NOL will expire.  Other timing differences relate to
         depreciation and amortization for the stock acquisition of
         EdNav (Note 3).

         The tax benefits relating to all timing differences have been
         fully reserved for in the valuation allowance account due to
         the lack of operating history and substantial losses.

NOTE 8:  RELATED PARTY TRANSACTIONS

         The Company was owed $8,406 and $3,406 at June 30, 1999 and
         December 31, 1998, respectively from a shareholder.  The amount
         is payable on demand.  The interest rate is 6% annually.







                                                          Page 12 of 13
                        OMNICOMM STSTEMS, INC.
        NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
                              (Unaudited)
                              (Continued)

NOTE 9:  POSTRETIREMENT EMPLOYEE BENEFITS

         The Company does not have a policy to cover employees for any
         health care or other welfare benefits that are incurred after
         employment (postretirement).  Therefore, no provision is
         required under SFAS's 106 or 112.

NOTE 10: REVERSE MERGER

         On February 17, 1999 Omnicomm merged with Coral Development
         Corp. (Coral) in a reverse merger.  In consideration of
         receiving all of the issued and outstanding shares of Omnicomm,
         Coral will issue 940,000 restricted shares of common stock to
         the shareholders of Omnicomm.  Coral had 403,000 shares issued
         and outstanding prior to the merger.

         The merger was accounted for as a reverse merger since Omnicomm
         is the continuing entity as a result of the recapitalization.
         Accordingly, a recapitalization occurred and no goodwill was
         recorded and the operating results of Coral have been included
         in the financial statements from the date of consummation of
         the merger.  On this basis, the historical financial statements
         prior to February 17, 1999 represent the consolidated financial
         statements of Omnicomm.  The historical shareholders' equity
         accounts of Omnicomm as of June 30, 1999 have been
         retroactively restated for all periods presented to reflect the
         issuance of the additional 940,000 shares.  All share and per
         share amounts have been retroactively restated for all periods
         to include the equivalent number of shares received in the
         transaction.

NOTE 11: INTERIM FINANCIAL REPORTING

         The unaudited financial statements of the Company for the
         period from January 1, 1999 to June 30, 1999 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.
















                                                          Page 13 of 13

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

Forward Looking Statements

In addition to historical information, this Quarterly Report contains
"forward looking statements". These statements can often be identified
by the use of forward-looking terminology such as "estimate", "project",
"believe", "expect", "may", "will", "should", "intends", or
"anticipates" or the negative thereof or other variations thereon or
comparable terminology, or by discussions of strategy that involve risks
and uncertainties. We wish to caution the reader that these forward-
looking statements, such as statements relating to timing, costs and of
the acquisition of, or investments in, existing business, the revenue
profitability levels of such businesses, and other matters contained in
this Quarterly Report regarding matters that are not historical facts,
are only predictions.  No assurance can be given that plans for the
future will be consummated or that the future results indicated, whether
expressed or implied, will be achieved.  While sometimes presented with
numerical specificity, these plans and projections and other forward-
looking statements are based upon a variety of assumptions, which we
consider reasonable, but which nevertheless may not be realized.
Because of the number and range of the assumptions underlying our
projections and forward-looking statements, many of which are subject to
significant uncertainties and contingencies that are beyond our
reasonable control, some of the assumptions inevitably will not
materialize, and unanticipated events and circumstances may occur
subsequent to the date of this Quarterly Report.  Therefore, our actual
experience and results achieved during the period covered by any
particular projections or forward-looking statements may differ
substantially from those projected.  Consequently, the inclusion of
projections and other forward-looking statements should not be regarded
as a representation by us or any other person that these plans will be
consummated or that estimates and projections will be realized, and
actual results may vary materially.  There can be no assurance that any
of these expectations will be realized or that any of the forward-
looking statements contained herein will prove to be accurate.

RESULTS OF OPERATION

Revenues:

Total revenues decreased to $383,679 from $758,756 for the three months
ended June 30, 1999 compared to the corresponding period in fiscal year
1998. This decrease in revenue is primarily attributed to two large
system integration projects that were completed during the three month
period ending June 30, 1998. Total revenues decreased to $912,401 from
$952,741 for the six months ended June 30, 1999 compared to the
corresponding period in fiscal year 1998. This decrease in revenue is
attributed to, again, the completion of projects during the three months
ended June 30, 1998. Substantially all of the revenue is attributed to
three clients: Commercial Services International, Office Depot, and
Republic Industries. Of these three, Commercial Services International
was responsible for 81% and 64% of the total revenue for the periods
ended June 30, 1999 and 1998, respectively.

All of the Company's revenue is attributed to its systems integration
business. The Company has earned no revenue from its TrialMasterTM
system.

Operating Expenses:

Total operating expenses increased to $627,441 from $164,115 for the
three months ended June 30, 1999 compared to the corresponding period in
fiscal year 1998. Similarly, total operating expenses increased to
$982,480 from $199,811 for the six months ended June 30, 1999 compared
to the corresponding period in fiscal year 1998.  This substantial
increase in operating expenses is attributed to a number of factors
including the continuing financial obligations associated with the
acquisition of Education Navigator in June of 1998 and the decision to
focus the Company's resources on the development of the TrialMasterTM
Internet system.

Salaries and Wages. Salaries and wages increased to $231,266 from
$51,009 for the six months ended June 30, 1999 compared to the
corresponding period in fiscal year 1998. The Company currently has nine
employees, eight of which are directly involved in the development,
marketing, and implementation of the TrialMasterTM system.

Independent Consultants. Fees to independent consultants increased to
$211,451 from $26,467 for the six months ended June 30, 1999 compared to
the corresponding period in fiscal year 1998. The Company decided to
outsource a number of areas during the initial phase of developing,
marketing and implementing the TrialMasterTM system. These areas concern
product development, marketing and sales, and medical/strategic
consulting. For the six months ending June 30, 1999, approximately
$81,000 of the $211,451, 39%, was expended on product development. The
other significant expenditure is $50,000 on medical/strategic
consulting.

Selling, General and Administrative(SG&A). Selling, general and
administrative expenses increased to $338,874 from $94,812 for the six
months ended June 30, 1999 compared to the corresponding period in
fiscal year 1998. The substantial increase in selling, general and
administrative expenses is attributed to the increase in operations
related to the development and marketing of the Company's TrialMasterTM
system.  In addition, $56,145 of expense associated with stock bonus
awards was recognized during the quareter and included in SG&A.

LIQUIDITY AND CAPITAL RESOURCES:

Cash and cash equivalents increased to $73,932 from $44,373 for the six-
month period ending June 30, 1999 compared to the corresponding period
in fiscal year 1998. The increase is attributed to the cash received
from the private placement of the 5-year, 10% Convertible Notes the
Company initiated during January 1999. See Item 5. Other Information.

Total liabilities increased to $1,565,130 from $910,325 for the six-
month period ending June 30, 1999 compared to the corresponding period
in fiscal year 1998. The increased in total liabilities is primarily
attributed to the placement of convertible notes totaling $862,500 or
55% of the total liabilities.

The Company generated a loss of $652,995 from operations for the three
months ended June 30, 1999 compared to income of $53,646 for the
corresponding period in fiscal year 1998. The loss is primarily
attributed to the continued financial obligations associated with the
acquisition of Education Navigator in June of 1998 and the development
and marketing of the TrialMasterTM system.

The Company has initiated a private placement of 5% Series A Convertible
Preferred Shares to accredited investors pursuant to Regulation S of the
Securities Act of 1933, as amended. See Item 5, Other Information.  The
Company completed the private placement of its 5-year, 10% Convertible
Notes.


PART II. OTHER INFORMATION

Item 2.   Changes in Securities and Use of Proceeds

Preferred Stock

     On June 28, 1999, the Company amended its articles of incorporation
to create a class of preferred stock. The Company shall have the
authority to issue 10,000,000, $.001 par value preferred shares. The
board of directors of the Company shall have the authority to divide the
preferred into series or classes and to designate the respective rights
of each series or class.

5% Series A Convertible Preferred Stock

     On July 19, 1999, the Company filed a certificate of designation
authorizing the creation of a 5% Series A Convertible Preferred stock
("Preferred Stock"). The preferences of the Preferred Stock are as
follows:

1. In the event of liquidation, the holders of Preferred Stock will be
entitled to receive in preference to the holders of Common Stock an
amount equal to their original purchase price plus all accrued but
unpaid dividends.

2. Dividends shall be paid at the rate of 5.00% (five percent) per annum
(365 days), payable semi-annually, on January 1 and July 1 of each
following year.

3. Conversion: (a) Voluntary Conversion: The holders of Preferred Stock
shall have the right to convert at any time at the option of the holder,
each share of Preferred Stock into one share of Common Stock, subject to
antidilution provisions set forth in subsection (c) below. (b) Automatic
Conversion: At any time after one year from the date of the final
Closing Date, the Company can require that all outstanding shares of
Preferred Stock be automatically converted at the conversion then in
effect if at the time (a) the closing bid price of the Company's Common
Stock has exceeded $3.00 for 20 consecutive trading days; (b) the
Company's Common Stock has been listed on the Nasdaq or such other
comparable national stock exchange and; (c) a registration statement
covering the shares of Common Stock issuable upon conversion of the
Preferred Stock has been filed with the Securities and Exchange
Commission and declared effective.

4. Anti-Dilution: Each share of Preferred Stock upon conversion into
Shares shall have proportional antidilution protection for stock splits,
stock dividends, combinations, and recapitalizations. The conversion
price shall also be subject to adjustment to prevent dilution in the
event the Company issues additional shares of Common Stock or
equivalents at a purchase price less than the applicable conversion
price.

5. The Preferred Stock shall not be sold, assigned, transferred or
pledged except upon satisfaction of the conditions specified in the
subscription agreement executed by the Holder, which conditions are
intended to ensure compliance with the provisions of the Securities Act.
Each Holder will cause any proposed purchaser, assignee, transferee, or
pledgee of the Preferred Share or the Common Stock issuable upon
conversion held by a Holder to agree to take and hold such securities
subject to the provisions and conditions of the subscription agreement.


6. Each certificate representing (i) the Preferred Stock and (ii) any
other securities issued in respect of the Preferred Stock upon any stock
split, stock dividend, recapitalization, merger, consolidation or
similar event, shall be stamped or otherwise imprinted with a legend in
the following form (in addition to any legend required under applicable
state securities laws):

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933. SUCH SHARES MAY NOT BE SOLD, OFFERED
FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN OPINION
OF COUNSEL SATISFACTORY TO THE CORPORATION THAT SUCH REGISTRATION IS NOT
REQUIRED. COPIES OF THE AGREEMENT COVERING THE PURCHASE OF THESE SHARES
AND RESTRICTING THEIR TRANSFER MAY BE OBTAINED AT NO COST BY WRITTEN
REQUEST MADE BY THE HOLDER OF RECORD OF THIS CERTIFICATE TO THE
SECRETARY OF THE CORPORATION AT THE PRINCIPAL EXECUTIVE OFFICES OF THE
CORPORATION.

7. A Holder shall have a right to vote that number of votes equal to the
number of shares of Common Stock issuable upon conversion of the
Preferred Stock.

     In addition to the foregoing, a holder of the Preferred Stock shall
have registration rights shares for the shares of Common Stock issuable upon
conversion of the Preferred Stock.

Issuance of Unregistered Securities

     The Company completed the private placement of its 10% Convertible
Notes ("Notes") during May, 1999. The offer and sale of the Notes were
made pursuant to Regulation D, Rule 506 of the Securities Act of 1933,
as amended (the "Act"). Each purchaser was an accredited investor as
evidenced by a suitability questionnaire filed out by each investor.
Gross proceeds from the sale were $862,500; the Company paid commissions
totaling $119,625 to Northeast Securities as placement agent. The Notes
are convertible into common shares of the Company at $1.25 per share.

     The Company issued shares of common stock totaling 86,377 shares to
employees and members of its Medical Advisory Board. The shares were
issued pursuant to Rule 701 and Sec. 4(2) of the Act.

Item 5.   Other Information

Private Placement

     On June 4, 1999, the Company and Noesis Capital Corp. entered into
a private placement agreement wherein Noesis Capital Corporation agreed
to act as placement agent in the placement of the Company's 5% Series A
Convertible Preferred Shares pursuant to Regulation S of the Securities
Act of 1933 (the "Act").

     The Company has agreed to pay a commission to Noesis Capital Corp.
in the amount of 10% of the gross proceeds from the sale of the 5%
Series A Convertible Preferred Shares offered hereby all in cash. In
addition, on the Final Closing Date, the Placement Agent will have the
right to purchase shares of the Company's common stock equal to 10% of
the number of shares of common stock into which the Preferred shares are
convertible at $.001 per share.

Item 6. Exhibits and Reports on Form 8-K

(a) Exhibits

     27.1 Financial Data Schedule

(b)  Reports on Form 8-K

     Form 8-K filed March 3, 1999; Items 1,2,5, and 6.


                              SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the
Securities Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersibned thereunto duly authorized.



                         By:  Peter Knezevich
                        Chief Executive Officer
                        Dated:  August 16, 1999