SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                   FORM 10-QSB

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

                  For the quarterly period ended June 30, 1998
                           Commission File No. 017833

                                    GREENLAND
                                   CORPORATION



        Nevada                                      87-0439051
(State or other jurisdiction of         (I.R.S. EMPLOYER IDENTIFICATION NUMBER)
incorporation or organization)

                                7084 Miramar Road
                                  Fourth Floor
                               San Diego, CA 92121
              (Address and zip code of principal executive offices

                                 (619) 566-9604
              (Registrant's telephone number, including area code)

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 Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.
                                                  [X] YES [ ] NO
Indicate the number of shares outstanding of each of the registrant's classes of
common stock, as of the latest practicable date.


                 Class A Common Stock          9,498,634 Shares Outstanding
                   $0.001 par value                as of August 11, 1998




<PAGE>



                              GREENLAND CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                              REPORT ON FORM 10-QSB
                           QUARTER ENDED JUNE 30, 1998
                                TABLE OF CONTENTS

Part I.   Financial Information
Item 1.   Financial Statements
          Consolidated balance sheets as of June 30, 1998
          Consolidated statements of operations
            Three  months  ended June 30,  1998 and 1997
            Six  months  ended  June  30,  1998 and 1997
            7/17/86 (date of inception) to June 30, 1998
          Consolidated statement of changes in stockholders' equity as of 
           June 30, 1998
          Consolidated statements of cash flows
            Three  months  ended  June  30, 1998 and 1997 
     `      Six months  ended June 30, 1998 and 1997
            7/17/86 (date of inception) to June 30, 1998
          Notes to consolidated financial statements

Item 2.   Management's discussion and analysis of financial
                   condition and results of operations

Part II.  Other Information

          Signatures




<PAGE>

                      GREENLAND CORPORATION AND SUBSIDIARY
                          (A Development Stage Company)
                           CONSOLIDATED BALANCE SHEET
                                   (UNAUDITED)



<TABLE>
<CAPTION>
                                                                                                     June 30,
                                                                                                       1998
                                                                                                 -----------------
ASSETS
Current Assets
<S>                                                                                              <C>              
     Cash in banks                                                                               $          26,640
     Accounts receivable - officers (Note 2)                                                               147,585
                                                                                                 -----------------
                                                                         TOTAL CURRENT ASSETS              174,225

Equipment, net of depreciation of $15,170 (Note 1)                                                          27,884

Other Assets
     Notes Receivable (Note 3)                                                                           1,900,000
     Investments (Note 3)                                                                                1,639,143
     Software and licenses (Note 4)                                                                      2,625,000
     Capitalized software costs (Note 1)                                                                   186,723
                                                                                                 -----------------
                                                                                                 $       6,552,975
                                                                                                 =================

LIABILITIES AND EQUITY
Current Liabilities
     Accounts payable                                                                            $         131,366
     Accrued liabilities                                                                                    11,000
     Payroll taxes payable                                                                                   2,365
                                                                                                 -----------------
                                                                    TOTAL CURRENT LIABILITIES              144,731

     Convertible secured debentures (Note 5)                                                                 5,000
     Contingent liabilities                                                                                      0
                                                                                                 -----------------
                                                                            TOTAL LIABILITIES              149,731

STOCKHOLDERS' EQUITY
     Common Stock $.001 par value:
        Authorized -100,000,000 shares
        Issued and outstanding 9,374,134 shares                                                             93,741
     Additional paid-in capital                                                                         11,876,409
     Deficit accumulated during development stage                                                       (5,566,906)
                                                                                                 -----------------
                                                                   TOTAL STOCKHOLDERS' EQUITY            6,403,244
                                                                                                 -----------------
                                                                                                 $       6,552,975
                                                                                                 =================
</TABLE>


<PAGE>

                      GREENLAND CORPORATION AND SUBSIDIARY
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)



<TABLE>
<CAPTION>
                                                                                                                      7/17/86
                                                        Three Months Ended              Six Months Ended             (Date of
                                                             June 30,                       June 30,               inception) to
                                                        1998           1997           1998            1997            6/30/98
                                                   -------------  --------------  -------------  -------------  ------------------
REVENUES
<S>                                                <C>            <C>             <C>            <C>            <C>               
     AMR Sales                                     $           0  $            0  $      10,000  $           0  $           65,000
     Other income                                          4,871           1,078          5,491         18,657              65,812
                                                   -------------  --------------  -------------  -------------  ------------------
                                                           4,871           1,078         15,491         18,657             130,812

EXPENSES
     General and administrative                          988,210         482,171      1,416,909      1,024,555           3,978,677
     Depreciation                                          1,518           1,518          3,036          3,036              15,170
     Interest                                                 79               0          8,529              0              50,770
     Property taxes and other taxes                       30,215           4,826         30,215         16,324              83,924
     Research and development                             67,259               0        123,669              0             123,669
     Bad debts                                                 0               0              0              0              59,668
                                                   -------------  --------------  -------------  -------------  ------------------
                                                       1,087,281         488,515      1,582,358      1,043,915           4,311,878
                                                   -------------  --------------  -------------  -------------  ------------------

LOSS FROM OPERATIONS                                  (1,082,410)       (487,437)    (1,566,867)    (1,025,258)         (4,181,066)

OTHER INCOME (LOSS)
     Gain on disposition of subsidiary                         0               0              0              0             531,388
     Gain (Loss) on sale of properties                  (437,881)        290,000       (437,881)       290,000            (552,881)
                                                   -------------  --------------  -------------  -------------  ------------------
                                   NET LOSS FROM
                            CONTINUING OPERATIONS     (1,520,291)       (197,437)    (2,004,748)      (735,258)         (4,202,559)

     Loss from discontinued operations (Note 1)                0         (32,877)             0        (33,512)         (1,364,347)
                                                   -------------  --------------  -------------  -------------  ------------------
                                  NET LOSS BEFORE
                                     INCOME TAXES     (1,520,291)       (230,314)    (2,004,748)      (768,770)         (5,566,906)

PROVISION FOR INCOME TAXES                                     0               0              0              0                   0
                                                   -------------  --------------  -------------  -------------  ------------------
                                         NET LOSS  $  (1,520,291) $     (230,314) $  (2,004,748) $    (768,770) $       (5,566,906)
                                                   =============  ==============  =============  =============  ==================

                           NET LOSS PER WEIGHTED
                                    AVERAGE SHARE  $        (.33) $         (.12) $        (.43) $        (.41)
                                                   ============== ==============  ============== ==============

Weighted average number of common shares
     used to compute net income (loss) per
     weighted average share                            4,628,757       1,855,621      4,628,757      1,885,621
                                                   =============  ==============  =============  =============
</TABLE>


<PAGE>


                      GREENLAND CORPORATION AND SUBSIDIARY
                          (A Development Stage Company)
           CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
                                   (UNAUDITED)





<TABLE>
<CAPTION>
                                                              Common Stock                Additional
                                                            Par Value $0.001               Paid - in         Retained
                                                       Shares             Amount            Capital           Deficit
                                                   --------------     --------------    --------------     -------------
<S>                                                <C>                <C>               <C>                <C>        
Balances at 12/31/97                                    2,709,778     $       27,097    $    7,131,369     $  (3,562,158)
   Issuance of common stock (restricted)
     at $.75 per share for subsidiary                   3,500,000             35,000         2,590,000
     at $1.00 per share to cancel debt                     16,400                164            16,236
     at $.50 per share for cash                           100,000              1,000            49,000
     at $.40 per share for cash                           125,000              1,250            48,750
     at $1.00 per share for cash                          252,400              2,524           249,876
     at $1.00 per share for services                       72,500                725            71,775
     at $.85 per share for services                         3,000                 30             2,520
     at $.75 per share for services                       350,000              3,500           259,000
     at $.50 per share for services                        35,000                350            15,400
     at $.20 per share for services                        20,000                200             3,800
   Issuance of common stock (S-8)
     at $.70 per share for services                       167,500              1,675           115,575
     at $.50 per share for services                       246,500              2,465           120,785
     at $1.00 per share for services                       20,000                200            19,800
     at $1.50 per share for services                       96,056                961           143,123
     at $.60 per share for services                       760,000              7,600           448,400
     at $1.00 per share to cancel debt                    400,000              4,000           396,000
     at $.40  per share to cancel debt                    500,000              5,000           195,000
   Net loss for period                                                                                        (2,004,748)
                                                   --------------     --------------    --------------     -------------

Balances at 6/30/98                                     9,374,134     $       93,741    $   11,876,409     $  (5,566,906)
                                                   ==============     ==============    ==============     =============
</TABLE>

<PAGE>


                      GREENLAND CORPORATION AND SUBSIDIARY
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)



<TABLE>
<CAPTION>
                                                                                                                7/17/86
                                                                                    Six months ended           (Date of
                                                                                        June 30,             inception) to
                                                                                  1998           1997           6/30/98
                                                                             -------------   -------------  -------------
OPERATING ACTIVITIES
<S>                                                                          <C>             <C>            <C>           
   Net loss                                                                  $  (2,004,748)  $    (768,770) $  (5,566,906)
   Adjustments to reconcile net loss to cash
     provided (required) by operating activities:
       Depreciation and amortization                                                 3,036          96,438        579,386
       Unrealized decrease in investments                                                0               0         83,826
       Book value of disposed assets/liabilities                                   388,000               0        588,374
       Stock issued for services                                                 1,217,884               0      2,041,306
   Changes in operating assets and liabilities:
       Accounts receivable                                                          (1,000)        (17,650)       (87,918)
       Escrow accounts                                                                   0          (3,145)             0
       Other assets                                                                      0                            542
       Accounts payable                                                              7,864          34,569        131,366
       Accrued expenses                                                            (59,743)        (27,404)        29,765
       Deposits                                                                          0           4,917              0
       Payable to stockholders                                                           0         (54,960)             0
       Current portion of long-term debt                                                 0            (950)             0
       Property taxes payable                                                            0               0       (112,522)
                                                                             -------------   -------------  -------------
                                  NET CASH REQUIRED BY OPERATING ACTIVITIES       (448,707)       (736,955)    (2,312,781)

INVESTING ACTIVITIES
   Acquisition of investments                                                            0        (302,789)             0
   Capitalization of software costs                                                      0               0       (186,723)
   Purchase of stock                                                                     0               0        (55,000)
   Purchase of equipment                                                              (581)              0        (18,139)
   Sale of property                                                                112,000               0        112,000
   Organization cost                                                                     0               0            (50)
                                                                             -------------   -------------  -------------
                           NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES        111,419        (302,789)      (147,912)

FINANCING ACTIVITIES
   Cash from subsidiary                                                                  0               0         23,415
   Proceeds from sale of stock                                                     352,400         743,726      1,989,736
   Collections of stock subscription                                                     0               0         40,000
   Amounts borrowed from (repaid to) stockholders                                        0        (140,790)             0
   Repayment of loans                                                                    0         (12,936)      (243,818)
   Proceeds from new loans                                                           5,000         600,000        678,000
                                                                             -------------   -------------  -------------
                                  NET CASH PROVIDED BY FINANCING ACTIVITIES        357,400       1,190,000      2,487,333
                                                                             -------------   -------------  -------------

                                      INCREASE IN CASH AND CASH EQUIVALENTS         20,112         150,256         26,640

   Cash and cash equivalents at beginning of period                                  6,528           6,909              0
                                                                             -------------   -------------  -------------
                                 CASH AND CASH EQUIVALENTS AT END OF PERIOD  $      26,640   $     157,165  $      26,640
                                                                             =============   =============  =============

   SUPPLEMENTAL INFORMATION
     Cash paid for interest                                                  $          79   $           0  $     951,400
     Subsidiary acquired by issuance of stock                                    2,625,000               0      2,625,000
     Assets acquired by assumption of debt and issuance of stock                         0               0     10,933,790
     Cancellation of stock previously issued for assets determined
       to be worthless (Note 4)                                                          0               0        459,432
     Investment received in exchange for non-cash assets                                 0       2,515,000      6,365,000
     Net book value of assets exchanged for investment                                   0               0     (1,412,077)
     Land option exchanged for investment                                                0      (2,515,000)    (2,515,000)
     Stock issued to cancel debt                                                   616,400               0        865,439
                                                                             -------------   -------------  -------------
                                                                             $   3,241,479   $           0  $  18,272,984
                                                                             =============   =============  =============
</TABLE>




<PAGE>


                              GREENLAND CORPORATION
                          (A Development Stage Company)
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 1998

Part I - Financial Information
BASIS OF PRESENTATION
General

   The  accompanying  unaudited  financial  statements  have  been  prepared  in
accordance with the instructions to Form 10-QSB.  Therefore, they do not include
all information and footnotes necessary for a complete presentation of financial
position,  results  of  operations,  cash  flows,  and  stockholders'  equity in
conformity with generally accepted  accounting  principles.  Except as disclosed
herein,  there has been no material change in the  information  disclosed in the
notes to the financial  statements  included in the  Company's  annual report on
Form 10-KSB for the year ended  December 31, 1997. In the opinion of Management,
all adjustments  considered  necessary for a fair presentation of the results of
operations  and financial  position have been included and all such  adjustments
are of a normal recurring  nature.  Operating results for the quarter ended June
30, 1998 are not necessarily  indicative of the results that can be expected for
the year ended December 31, 1998.

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

         Principal Operations
         The  principal  business  of the Company is the  marketing  of advanced
         technologies,  which include Check Central,  an automated check cashing
         machine;  and  AirLink(TM)  a  communications  technology  that enables
         utilities to automate meter reading.

         Accounting Methods
         The Company  recognizes income and expenses based on the accrual method
         of accounting.

         Consolidation

         The financial statements include the accounts of Greenland  Corporation
         and its wholly-owned  subsidiary,  Check Central,  Inc. All significant
         intercompany transactions have been eliminated in consolidation.

         Discontinued Operations
         In December,  1997 the Company disposed of its wholly-owned  subsidiary
         Gam Properties,  Inc.  (which was in the real estate rental  business).
         The  net  loss  from  operations  of the  subsidiary  during  1997  was
         $(190,660).

         Development Stage
         The  Company  was in the  development  stage  prior  to  1994,  when it
         acquired its subsidiary Gam  Properties,  Inc. Upon the  disposition of
         that  subsidiary  at December  31,  1997,  the Company  re-entered  the
         development stage.

         Equipment
         Equipment is recorded at cost.  Depreciation  is provided for using the
         straight-line method over a seven year life. The cost of assets sold or
         retired and the related amounts of accumulated depreciation are removed
         from the accounts in the year of disposal.  Any resulting  gain or loss
         is reflected in current  operations.  Expenditures  for maintenance and
         repairs  are  charged  to   operations   as  incurred;   additions  and
         improvements are capitalized.

         Dividend Policy
         The  Company  has not yet  adopted  any  policy  regarding  payment  of
         dividends.

         Capitalized Software
         The  Company has  capitalized  expenses  incurred to install  live test
         sites for its AirLink  automated meter reading systems.  The plan is to
         amortize the costs  against  revenues  from sales of the systems over a
         period of five years.




<PAGE>

                              GREENLAND CORPORATION
                          (A Development Stage Company)
        NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (continued)
                                  JUNE 30, 1998

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (continued)

         Use of Estimates
         The  preparation of financial  statements in conformity  with generally
         accepted  accounting  principles  requires management to make estimates
         and assumptions  that affect certain  reported amounts and disclosures.
         Accordingly, actual results could differ from those estimates.

         Fair Market Value of Financial Instruments
         The company  considers  all highly liquid  investments  with a maturity
         date of three months or less to be cash  equivalents  and are deemed to
         approximate fair value. In management's  opinion, the carrying value of
         long-term debt also approximates fair value.

         Income Taxes
         The Company  records the income tax effect of  transactions in the same
         year that the  transactions  enter  into the  determination  of income,
         regardless of when the  transactions  are  recognized for tax purposes.
         Tax credits are recording in the year  realized.  Since the Company has
         not yet realized income as of the date of this report, no provision for
         income taxes has been made.

         The Company  utilizes the  liability  method of  accounting  for income
         taxes as set forth in Statement of Financial  Accounting  Standards No.
         109,  "Accounting  for Income  Taxes" (SFAS 109).  Under the  liability
         method,  deferred taxes are determined based on the difference  between
         the financial  statement and tax bases of assets and liabilities  using
         enacted tax rates in effect in the years in which the  differences  are
         expected  to  reverse.  An  allowance  against  deferred  tax assets is
         recorded  when it is more likely than not that such tax  benefits  will
         not be realized.

NOTE 2: ACCOUNTS RECEIVABLE - OFFICERS

         During 1997, the Company  advanced  $147,585 to officers and employees.
         The funds will be repaid in 1998 or withheld from wages.

NOTE 3: INVESTMENTS

              Investments consist of the following items:

              1- 25,000 shares of common stock of PSA, Inc. (OTCBB-PSAZ).  The 
                 cost was $55,000, and the current market value at June
                 30, 1998 was approximately $55,000.

              2- A 49% interest in a limited liability company which is reported
                 at $134,143 under the equity method.

              3-290,000  convertible  preferred shares of Golden Age Homes, Inc.
              (OTCBB-GAHI). The net book value of the Company's subsidiary which
              was  exchanged  for these shares was  $1,412,077.  The  negotiated
              price at  December  31,  1997 was  $1,630,000,  which is the value
              reflected   on  these   financial   statements.   The  shares  are
              convertible  in  1999  to the  number  of  common  shares  (at the
              then-current market price) equivalent to $1,450,000.

         In the first  quarter  of  fiscal  1998,  the  Company  entered  into a
transaction  with  Quantix,  a Nevada  Corporation,  to exchange its holdings of
1,100,000  shares of 5%  Convertible  Class B  Preferred  Stock of Natural  Born
Carvers,  Inc. for a combination  of real estate,  trust deeds,  and  promissory
note. The  transaction is intended to convert  non-liquid  assets of the Company
into those that can be used,  in the future,  for the ongoing  financing  of the
Company.  These are listed on the Company's balance sheet as Notes Receivable in
the amount of $1,900,000.

NOTE 4: SOFTWARE AND LICENSE

     On May 12, 1998, the Company  exchanged  3,500,000 shares of its restricted
common stock for 100% of the outstanding stock of Check Central,  Inc. (a Nevada
corporation). Check Central, Inc. was a new entity with no history of operations
and assets  consisting of software and licenses,  which the Company plans to use
in developing and market a new product line.


<PAGE>

                              GREENLAND CORPORATION
                          (A Development Stage Company)
        NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (continued)
                           QUARTER ENDED JUNE 30, 1998

NOTE 5: 12% CONVERTIBLE SECURED DEBENTURES

         During the first quarter of fiscal 1998, the Company issued an offering
consisting  of $250,000 of 12%  Convertible  Debentures  due April 1, 2000.  The
Company promises to pay the registered holder(s) of debentures the principal sum
of his  investment  on April 1, 2000 and to pay  interest on the  principal  sum
outstanding  from time to time in arrears on the maturity date of the debentures
at the rate of twelve percent (12%) per annum, accruing from the date of initial
issuance.  The debentures are  convertible  into shares of the Company's  common
stock at the greater of $0.10 per share or ninety percent (90%) of the bid price
of the Company's common stock as quoted on the OTC Electronic  Bulletin Board at
the date of conversion. For each $10,000 of debentures,  purchasers will receive
50,000  one-year  warrants,  expiring  March 1, 1999, to purchase  shares of the
Company's common stock at $0.25 per share.  During the first quarter ended March
31, 1998,  the Company sold a principal  amount of Debentures  of $5,000.  There
have been no further sales of such debentures.

NOTE 6: REVERSE SPLIT OF COMMON STOCK

         On June 12, 1998, shareholders approved a 1 for 10 reverse split of the
Company's  common stock effective July 2, 1998. The effect of the  authorization
was that each ten (10)  issued  and  outstanding  shares of  Common  Stock  were
automatically  converted  into one (1) new  share of  Common  Stock,  par  value
$0.001.  The number of authorized  shares and the par value  designation  of the
Common Stock were  unaffected  by the reverse  split.  The  Company's  financial
statements in this filing have been  adjusted to account for the reverse  split,
which was made effective July 2, 1998, as if it had occurred at the beginning of
the earliest period presented.

ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

Introduction

         The  following   discussion   pertains  to  the  Company's  results  of
operations and financial condition as of June 30, 1998 and 1997, respectively.

         The   operations  of  the  Company's   meter  reading   operations  and
newly-acquired Check Central,  Inc. subsidiary are consolidated in the Company's
financial statements.

         The  Company's  AMR  operations  have  been,  devoted to  research  and
development  and  development  of  prototype  installations  of its  AirLink(TM)
automated  meter  reading  system.  Operations  have been  devoted  primarily to
engineering and administration.

         The  Company  has pursued  limited  marketing  and sales of its product
line,  and is involved in  preparing  three  pilot  installations  of AirLink in
Oregon,  Utah,  and  Connecticut.  These  pilot  installations  are  anticipated
sometime this year. The Company has patents pending with the U.S. Patent Office.

         Sales of AirLink are highly dependent on the successful installation of
its contracted  pilot  systems.  While  management is optimistic  that its sales
opportunities  will bear positive results over time, it is likely that the sales
cycle will be lengthy.

         The Company, in May 1998, acquired Check Central,  Inc.,  developers of
proprietary technology to provide automated check cashing, money orders, and ATM
services from free-standing automated teller machines in retail locations.

         The  acquisition  of  Check  Central  was  an  all-stock   transaction.
Greenland  purchased  all of the  outstanding  shares of Check  Central  for 3.5
million shares of Greenland  restricted common stock (after the reverse split of
the Company's common stock) , representing,  at the time,  approximately  45% of
the total issued and outstanding shares.

         The Company  expects that some of its Check  Central  machines  will be
Company-owned  for  which  it  will  pay a  space  rental  fee  and a  split  of
transaction  fees with  retailers.  At this time,  the Company  has  released no
forecast  related  to  the  future   financial   performance  of  Check  Central
operations. However, the Company estimates that the check-cashing market segment
is  approximately  $1.5 billion  annually.  The Company  anticipates  rollout of
initial units later in the current fiscal year.




<PAGE>

Results of Operations

Revenues
         The  Company  had no income  from sales of AirLink  systems  during the
quarter ended June 30, 1998. There was no income from AMR operations  during the
corresponding  quarter of fiscal  1997.  For the six month period ended June 30,
1998,  the  Company  had AMR  revenues  of  $10,000  associated  with its  pilot
operations.  There were no corresponding revenues in the year-earlier period. To
date,  the  Company  has  had AMR  revenues  of  $65,000,  all  associated  with
contracted pilot installations of AirLink.

         Other income for the three  months ended June 30, 1998 was $4,871.  The
Company had $1,078 from other income in the prior year. For the six month period
ended June 30, 1998, the Company had other income of $5,491  compared to $18,657
in the prior year six month period.

Expenses
         General and  administrative  expenses  for the three month period ended
June 30, 1998  totaled  $180,708  as  compared  to  $238,327  for the prior year
period,  a decrease of  $129,619 or 54.4%.  This  decrease  is  attributable  to
planned reduced expenses for day-to-day  operations of the Company.  For the six
month period  ended June 30,  1998,  general and  administrative  expenses  were
$366,572 as compared to $481,411  for the prior year,  a decrease of $114,839 or
23.9%.  Since  inception  (July 17,  1986),  the Company has paid  $3,978,677 of
general and administrative expenses.

         Research and development expenses for the three month period ended June
30, 1998 were  $67,259,  compared to  $102,844 in the  year-earlier  three month
period.  The  reduction of $35,585  (34.6%) was due  primarily to reduced  parts
purchases as engineering  was focused on  adjustments to previous  iterations of
the AirLink system.  For the six month period ended June 30, 1998,  research and
development  expenses were $123,669 as compared to $190,739 for the period ended
June 30, 1997; a decrease of $67,070,  or 35.2%. The Company has paid a total of
$123,669 in research and development expenses since its inception.

         Consulting  fees were $807,502 for the second  quarter,  as compared to
consulting fees of $141,000 for the prior-year This increase of $666,502 was due
primarily to fees paid for  consulting  services  related to the  acquisition of
Check  Central.  For the six month period ended June 30, 1998,  consulting  fees
were  $1,050,337  compared  to $352,405 in the  year-earlier  six-month  period.
Historically,  these fees have  consisted  primarily  of those paid for services
related to the Company's financing activities.

         Depreciation  expense was $1,518 for the second quarter of fiscal 1998;
the identical amount as in the year-earlier  three-month period.  These expenses
are directly related to Company equipment.  For the six month periods ended June
30, 1998, and 1997, depreciation was $3,036.

         Interest  expense  was only $79 in the second  quarter  period of 1998;
there  were no such  expenses  in the first  quarter  of fiscal  1997.  Interest
expenses were $8,529 for the six month period ended June 30, 1998 compared to no
such expenses in the year-earlier  six-month  period.  The increases in interest
expense are principally due to the Company's debt. Since inception,  the Company
has paid $50,770 in interest.

         Taxes for the three  month  period  ended  June 30,  1998 were  $30,215
compared  to $4,826 in the  previous  year's  second  quarter,  an  increase  of
$25,389.  For the six month  period  ended June 30,  1998,  taxes  were  $30,215
compared to taxes of $16,324 for the prior year's six month period,  an increase
of $13,891. Th increases are principally related to payroll taxes.

Automated Meter Reading Operations
         The  Company  has  continued  to fund the  development  efforts  of its
automated  meter  reading  operations.  During the second  quarter,  the Company
continued  its  efforts  to deploy  its  pilot  systems  in  Oregon,  Utah,  and
Connecticut.  Installation  of the pilot  systems  using new  iterations  of the
Company's radio technology is anticipated to begin later in this fiscal year.

         Management  has hired a number of  outside  consultants  to assist  its
engineering  department  in improving  the core radio  technology of its AirLink
automated  meter reading  system.  The  principal  challenge of the system is to
improve  the  transmission  distances  of the radio  units  deployed  in utility
meters, which must communicate with a central collection station for delivery of
data to utilities.

         The Company  has made  several  formal and  informal  presentations  to
utilities in the U.S. and internationally, and hopes to accelerate its marketing
activities following successful deployment of pilot systems.

Check Central Operations
         Check Central,  Inc.,  acquired by Greenland in the second quarter,  is
operated as a wholly-owned subsidiary. Check Central has developed technology to
enable automated banking and check cashing.


<PAGE>

         The fundamental  Check Central  product is an automated  teller machine
that is installed in a retail  environment such as a convenience  store,  liquor
store,  laundromat,  supermarket,  etc.  It provides  an  automated  platform to
provide   several    financial    services.    The   basic   services   include:
payroll/government  check cashing,  money orders, and ATM functions.  Additional
services may include,  in the future:  bill paying services  (including  utility
bills), wire transfers,  on-line purchases, payday loans, electronic tax filing,
etc.

         The  core  of  the  system  is  Check  Central's   proprietary   server
technology.  This is an on-line check  approval  system that makes all the check
cashing  decisions  and  electronically   dispenses  the  cash  for  each  check
transaction.  This service,  along with the  user-friendly  design of the retail
machine,  enables automated  transaction  services possible,  including advanced
security  features to minimize theft and fraud.  This server  technology,  Check
Central Management Software ("CCMS"),  has been extensively tested in the retail
market.  This  technology  eliminates all  responsibility  at the store level by
providing  proprietary  software with sophisticated risk management  algorithms,
digital communication to each branch location,  connectivity to major databases,
and a back-office  staff with experienced  check cashing  personnel.  The system
makes all check cashing decisions in a real-time environment.

         Initially,  the  Company  will own and  operate  a  limited  number  of
machines,  paying for retail space and providing some profit-sharing revenues to
retailers.  Alternatively,  the  Company  will sell Check  Central  machines  to
retailers  and provide  service and support in exchange for a percentage  of fee
revenues.

         At  present,   Check  Central  production  units  are  in  development.
Management  anticipates  release of these  units in the third  quarter of fiscal
1998.

Liquidity and Capital Resources

         The  Company's  total  assets  were  $6,552,975  at June 30,  1998,  an
increase of $2,143,657, or 48.6%, over to the year ended December 31, 1997. This
increase in assets is based primarily on the acquisition of Check Central.

         At June 30, 1998, the Company's  total  liabilities  were  $149,731,  a
decrease of $663,279 (81.6%) over the year ended December 31, 1997. The decrease
is  attributable  primarily to the  conversion of the Company's 10%  Convertible
Secured Debentures.

     Stockholders'  equity was  $6,403,244  at June 30,  1998,  an  increase  of
$2,806,936 (78.1%) over the year ended December 31, 1997.

         The  Company  had  working  capital of $24,494  at June 30,  1998.  The
Company's  working  capital has improved by $58,468 since the period ended March
31, 1998 and by $84,390  since the year ended  December 31, 1997.  Management is
currently  evaluating its options to raise additional  capital through equity or
debt  financing in order meet its ongoing  requirements  for working  capital to
grow the business.

PART II - OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS

         None.

ITEM 2 - CHANGES IN SECURITIES

         The Company  effected a 1 for 10 reverse  split of its Common  Stock in
July, 1998. (See Note 6 to the Consolidated Financial Statements.)

ITEM 3 - DEFAULTS ON SENIOR SECURITIES

         None.

ITEM 4 - SUBMISSION OF MATTER TO VOTE OF SECURITY HOLDERS

         None.

ITEM 5 - OTHER INFORMATION

         None.




<PAGE>

ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K

         (a)  Exhibits - none.

         (b)  Reports on  Form 8-K

         Form 8-K filed  June 2,  1998,  related  to the  exchange  of shares of
         Greenland  Common  Stock  for all of the  outstanding  shares  of Check
         Central, Inc.



                                   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.


                                  GREENLAND CORPORATION

August 14, 1998
                                  --------------------------------------------
                                  Lee R. Swanson
                                  President, Chief Executive Officer, and Acting
                                    Chief Financing Officer

August 14, 1998
                                  --------------------------------------------
                                  Thomas Beener
                                  Secretary