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 March 31, 1997

                           Commission File No. 017833

                              GREENLAND CORPORATION


          Nevada                                     87-0439051
(State or other jurisdiction of                   (I.R.S. Employer
incorporation or organization)                   Identification Number)

                                7084 Miramar Road
                               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                 23,667,091 Shares Outstanding
  $0.001 par value                       as of April 22, 1997




<PAGE>



                      GREENLAND CORPORATION AND SUBSIDIARY
                              REPORT ON FORM 10-QSB
                          QUARTER ENDED MARCH 31, 1997

TABLE OF CONTENTS

     PART I. FINANCIAL INFORMATION

     ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)
               CONDENSED  CONSOLIDATED  BALANCE  SHEETS AS OF MARCH 31, 1997 AND
               DECEMBER 31, 1996
               CONDENSED  CONSOLIDATED  STATEMENTS  OF  OPERATIONS  THREE MONTHS
               ENDED MARCH 31, 1997 AND 1996
               CONDENSED  CONSOLIDATED  STATEMENTS  OF CHANGES IN  STOCKHOLDERS'
               EQUITY AS OF MARCH 31, 1997
               CONDENSED  CONSOLIDATED  STATEMENTS OF CASH FLOWS AS OF MARCH 31,
               1997 AND 1996
               NOTES TO CONDENSED 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
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                          QUARTER ENDED MARCH 31, 1997
<TABLE>
<CAPTION>
                                                                                Mar. 31, 1997          Dec. 31, 1996
                                                                             ----------------       ----------------
ASSETS                                                                            (unaudited)              (audited)

Current assets:
<S>                                                                          <C>                    <C>             
     Cash in bank                                                            $         23,778       $          6,909
     Escrow accounts                                                                    9,188                  7,518
     Accounts receivable, officers                                                    148,448                130,398
                                                                             ----------------       ----------------
          Total current assets                                                        181,414                144,825

     Rental properties, net of depreciation                                         5,006,656              5,054,875

     Other assets
           Land option                                                              2,515,000              2,515,000
           Investments                                                                152,893                152,893
           Capitalized software                                                       186,723                186,723
                                                                             ----------------       ----------------

          Total assets                                                       $      8,042,686       $      8,054,316
                                                                             ================       ================

LIABILITIES AND EQUITY

Current liabilities:
     Accounts payable                                                           $      90,679          $      74,550
     Tenant deposits                                                                   20,814                 20,814
     Payroll taxes payable                                                             11,445                 43,141
     Property taxes payable                                                            83,782                 83,782
     Accrued salaries                                                                  49,800                 49,800
     Accrued interest payable                                                          24,140                 24,139
     Note payable                                                                       5,000                  5,000
     Current portion of long-term debt                                                364,683                364,100
                                                                             ----------------       ----------------

          Total current liabilities                                                   650,343                665,326

     Contingent liabilities                                                                 -                      -

     Payable to stockholders                                                          120,790                140,790
     Long-term debt                                                                 3,471,974              3,481,202
                                                                             ----------------       ----------------

          Total liabilities                                                         4,243,107              4,287,318

STOCKHOLDERS' EQUITY

Common stock
     $0.001 par value: 50,000,000 authorized; 18,195,108 shares
     issued and outstanding (15,214,460 at 12/31/96)                                   18,195                 15,214
Additional paid-in capital                                                          6,163,105              5,595,049
Retained deficit                                                                   (2,381,721)            (1,843,265)
                                                                             ----------------       ----------------

          Total stockholders' equity                                                3,799,579              3,766,998
                                                                             ----------------       ----------------

                                                                             $      8,042,686       $      8,054,316
                                                                             ================       ================
</TABLE>

               See accompanying notes to financial statements.






<PAGE>
                      GREENLAND CORPORATION AND SUBSIDIARY
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                          QUARTER ENDED MARCH 31, 1997
<TABLE>
<CAPTION>
                                                               Three Months Ended Mar. 31,

                                                                    1997               1996
                                                             (unaudited)        (unaudited)
                                                            ------------      -------------

Revenues:
<S>                                                        <C>                <C>          
     Rental income                                         $     117,548      $     105,161
     AMR income                                                   15,000                  -
     Other income                                                  2,579             60,188
                                                            ------------      -------------

          Net revenue                                            135,127            165,349

Expenses:
     General and administrative expense                           71,837            158,052
     Consulting fees                                             211,405                  -
     Salaries                                                    103,555                  -
     Marketing and sales                                          53,502                  -
     Supplies - AMR                                               50,715                  -
     Rent                                                         51,370                  -
     Depreciation                                                 48,219             40,727
     Property and other taxes                                     11,498              3,358
     Interest                                                     71,482             73,873
                                                            ------------      -------------

                                                                 673,583            276,010
                                                            ------------      -------------

Income (loss) from operations                                  (538,456)          (110,661)

Other income (expense)                                                 -                  -

Provision for income taxes                                             -                  -
                                                            ------------      -------------

     Net income (loss)                                      $   (538,456)     $    (110,661)
                                                            ============      =============

Net income (loss) per share*                                $     (0.03)      $       (0.01)
                                                            ============      =============

*Weighted average number of common
   shares used to compute income (loss)
   per share                                                  16,847,291         13,282,285
</TABLE>



               See accompanying notes to financial statements.





<PAGE>



                      GREENLAND CORPORATION AND SUBSIDIARY
            CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
                          QUARTER ENDED MARCH 31, 1997
<TABLE>
<CAPTION>
                                                 Common Stock                 Additional
                                               Par Value $0.001                Paid-In              Retained
                                            Shares           Amount             Capital              Deficit
                                      --------------      -----------      --------------        -------------

<S>                                   <C>                 <C>              <C>                    <C>          
Balances at 12/31/96                      15,214,460      $    15,214      $    5,595,049         $ (1,843,265)
   Issuance of common (restricted)
      at $.1352 per share for cash           882,268              882             118,400
      at $.156 per share for cash            768,037              768             119,046
      at $.221 per share for cash            280,543              281              61,720
      at $.25 per share for cash             313,000              313              77,937
      at $.26 per share for services         731,500              732             189,458
      at $.283 per share for services          5,300                5               1,495

Net loss for period                                -                -                   -             (538,456)
                                      --------------      -----------      --------------        -------------

Balances at 3/31/97                       18,195,108      $    18,195      $    6,163,105        $  (2,381,721)
                                      ==============      ===========      ==============        =============
</TABLE>


               See accompanying notes to financial statements.


<PAGE>
                      GREENLAND CORPORATION AND SUBSIDIARY
                 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
                          QUARTER ENDED MARCH 31, 1997
<TABLE>
<CAPTION>


                                                                 3 Months Ended
                                                                   March 31,
                                                             1997               1996
                                                         (unaudited)        (unaudited)
                                                         ------------       ------------
OPERATING ACTIVITIES
<S>                                                      <C>                <C>          
   Net income (loss)                                     $   (538,456)      $   (110,661)
   Adjustments to reconcile net loss to cash used
     by operating activities:
          Stock issued for services                           191,690                  -
          Depreciation                                         48,219             40,727

   Changes in operating assets and liabilities:
          Accounts receivable                                 (18,050)                 -
          Escrow accounts                                      (1,670)            (2,694)
          Other assets                                              -            (24,450)
          Accounts payable                                     16,129             39,977
          Payroll taxes payable                               (31,696)                 -
          Deposits                                                  -               (495)
          Notes payable                                             -            (45,000)
                                                         ------------       ------------

Net cash required by operating activities                    (333,834)          (102,596)

INVESTING ACTIVITIES
     Purchase of equipment                                          -               (549)
                                                         ------------       ------------

Net cash provided by investing activities                           -               (549)

FINANCING ACTIVITIES
   Proceeds from sale of stock                                379,347             75,100
   Collection of stock subscription                                 -             40,000
   Amounts repaid to stockholder                              (20,000)                 -
   Repayment of loans                                          (8,644)           (15,587)
                                                         ------------       ------------

Net cash provided by financing activities                     350,703             99,513
                                                         ------------       ------------

Increase (decrease) in cash and cash equivalents               16,869             (3,632)

Cash and cash equivalents at beginning of period                6,909              8,523
                                                         ------------       ------------

Cash and cash equivalents at end of period               $     23,778       $      4,891
                                                         ============       ============

SUPPLEMENTAL INFORMATION
   Cash paid for interest                                $     71,482       $     78,873
                                                         ============       ============
</TABLE>

               See accompanying notes to financial statements.

<PAGE>
                      GREENLAND CORPORATION AND SUBSIDIARY
                   NOTES TO CONDENSED CONSOLIDATED STATEMENTS
                          QUARTER ENDED MARCH 31, 1997


NOTE 1: BASIS OF PRESENTATION
General
     The  accompanying  unaudited  financial  statements  have been  prepared in
accordance with the  instructions to Form 10-Q.  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, 1996. 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 March
31, 1997 are not necessarily  indicative of the results that can be expected for
the year ended December 31, 1997.

 NOTE 2: PRIVATE PLACEMENT OF COMMON STOCK
     During  the  first  quarter  ended  March 31,  1997,  the  Company  sold an
aggregate amount of 1,930,848 shares of its common stock, at prices ranging from
$.1352 to $.221 per share,  for  $301,097.  Additionally,  the Company,  sold an
aggregate of 313,000 shares of its common stock, at $.25 per share,  for $78,250
through its Private  Placement  Memorandum  pursuant to  Regulation  D, Rule 505
during the first quarter.

NOTE 3: RELOCATION
     During the period  ended March 31, 1997,  the Company  moved its offices to
7084 Miramar Road, San Diego, California.  In January, 1997, the Company entered
into a three-year  operating lease of office space.  Required lease payments are
$51,546 in 1997, $73,313 in 1988, and $79,560 in 1999.

 NOTE 4: DISPOSITION OF IVDS LICENSES
     In 1995,  the Company  acquired the rights to three  Interactive  Video and
Data Systems Licenses  ("IVDS") which were issued by the Federal  Communications
Commission.  The licenses are located within the geographical  areas of Olympia,
Washington;  Lubbock,  Texas;  and  Knoxville,  Tennessee.  In 1996,  management
determined that the licenses were in fact, not  transferable and sued for return
of the stock issued in exchange  therefore.  The lawsuit settled March 20, 1997,
and the  transaction  has  been  rescinded.  The  licenses  were  valued  on the
Company's  balance  sheets at  $959,432;  a long-term  liability of $500,000 was
recognized in relation to these assets.

<PAGE>

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 March 31, 1997 and 1996, respectively.
     The operations of the Company's meter reading  operations are  consolidated
in the  Company's  financial  statements.  These  operations  have been  devoted
primarily to research and  development  and the deployment of pilot systems in a
number of U.S. municipalities.  The Company has filed for three patents with the
U.S. Patent Office.
     The  Company  owns a 49%  interest  in  Signature  Leasing,  LLC,  a Nevada
Corporation  ("Signature").  The Company has not  consolidated the operations of
Signature as it was a minority shareholder at March 31, 1997.
     The  Company's  operations  have  been  largely  devoted  to  those  of its
wholly-owned GAM Properties, Inc. subsidiary.

Results of Operations
Income
     Rental income for the first quarter of fiscal 1997 totaled $117,548 for the
period  ended  March 31, 1997  compared to $105,161 in the first  quarter of the
previous  fiscal year;  an increase of $12,387,  or 11.8%.  The San Diego rental
market remains essentially flat; but the Company has been able to stabilize high
occupancy rates.
     Income   from   the   Company's    automated   meter   reading   technology
("AirLink(TM)")  was $15,000  during the first  quarter.  There were no revenues
from these operations in the year-earlier period.
     Other income  (including  interest income) was $2,579 for the first quarter
compared to $60,188 in the first quarter of last year. The Company's  operations
have  been  streamlined  to  concentrate  on  AirLink  and  its  GAM  Properties
subsidiary.

Expenses

     General and  administrative  expenses  for the period  ended March 31, 1997
totaled  $440,299,  which  included  consulting  fees of  $211,405,  salaries of
$103,555,  and marketing and sales expenses of $53,502.  In the previous  year's
first quarter,  general and administrative  expenses were $158,052. The increase
in general and  administrative  expenses of $282,247 (178.6%) were due primarily
to increases in consulting  fees and salaries due to expanded  operations of the
Company.
     Depreciation  expense was $ 48,219 for the first  quarter of fiscal 1997 as
compared to $40,727 in the previous year period, an increase of $7,492 or 18.4%,
which is attributable to changes in the Company's portfolio of properties.
     Interest expense decreased by $2,391 to $71,482 (3.2%) in the first quarter
period of 1997 over the first quarter period of fiscal 1996.
     Property taxes for the period ended March 31, 1997 were $11,498 compared to
$3,358 in the previous  fiscal year period.  The increase of $8,140  (242.4%) is
directly  attributable  to the  Company's  changing  portfolio  of  real  estate
properties  upon which value the taxes are assessed and the  associated  payment
schedule for such taxes.




<PAGE>



AMR Operations
     The Company has  continue to fund the  development  efforts  related to its
automated meter reading  operations.  Sales of the Company's  AirLink  automated
meter reading system have been limited to pilot  installations  for utilities in
Connecticut,  Utah, and Oregon. Marketing and sales efforts on behalf of AirLink
have been  accelerated  and the Company has  responded  to several  requests for
proposal from utilities in the U.S. and internationally.

Real Estate Operations
     The Company  continued  to  experience  negative  cash flow from its rental
properties  during the first  quarter.  Increased  expenses  from  insurance and
property taxes in the first quarter  contributed to this condition.  The Company
continues to reduce its debt on its  properties,  and is looking to sell some of
its unprofitable holdings.
     Management  is currently  considering  its various  options  related to the
disposition of its Tucson property:  sale, trade,  refinance,  joint-venture for
development.

Liquidity and Capital Resources
     The Company's total assets were $8,042,686 at March 31, 1997, a decrease of
$737,763, or 8.4%, compared to the period ended March 31, 1996. This decrease in
assets is based primarily on the rescission of the Company's 1995 acquisition of
certain  IVDS  telecommunications  licenses.  (Also  see  Note  4  to  Financial
Statements.)  The Company's total  liabilities at March 31, 1997 were $4,243,107
compared to $4,472,297  in the  year-earlier  period;  a decrease of $229,190 or
5.1%.  This  decrease is due primarily to the  rescission of the Company's  1995
acquisition of certain IVDS  telecommunications  licenses.  Stockholders' equity
was $3,779,579 at March 31, 1997, a decrease of $525,570 or 12.2%. This decrease
was due  primarily to the effect of the  rescission  of the  acquisition  of the
Company's IVDS licenses.
     The Company had negative  working capital of $468,929 at March 31, 1997. On
April 9, 1997,  the Company sold $600,000 in aggregate  principal  amount of 10%
Convertible  Debentures  due April 30, 1999 under  Regulation S. This  financing
serves to reduce the pressures associated with this condition.
     Additionally, the Company has extended a private placement offering to sell
up to 4,000,000 shares of  restricted  common stock to raise  $1,000,000.  The
Company  continues to investigate  several  alternatives  to acquire  additional
capital;  particularly related to anticipated needs related to project financing
of its automated meter reading operations.




<PAGE>



PART II - OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS
     The Company is not  involved in any  litigation  that would have a material
adverse  effect on the Company;  and the officers and  directors are aware of no
threatened or pending litigation which would have a material,  adverse effect on
the Company.

ITEM 2 - CHANGES IN SECURITIES
     The Company's  shareholders  approved,  at the Company's  annual meeting on
April 18, 1997, a measure to amend the Company's  Articles of  Incorporation  to
authorized an increase in the Company's  authorized common stock from 25,000,000
shares to 50,000,000 shares.
     Additionally,  shareholders  have authorized the issuance of two classes of
Preferred Stock, 10,000 shares for each class, at an as-yet to be determined par
value.

ITEM 3 - DEFAULTS ON SENIOR SECURITIES
         None.

ITEM 4 - SUBMISSION OF MATTER TO VOTE OF SECURITY HOLDERS
         None.

ITEM 5 - OTHER INFORMATION
         None.

ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K
         (a)  Exhibits - none.
         Reports on  Form 8-K
              Form  8-K  filed  April  18,  1997  related  to  the  sale  of 10%
              Convertible Debentures due April 30, 1999 under Regulation S.

<PAGE>

                                   SIGNATURES

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


                            GREENLAND CORPORATION

                            Signed
April 25, 1997
                            --------------------------------------------------
                            Eric W. Gaer
                            President and Chief Executive Officer

                            Signed
April 25, 1997
                            --------------------------------------------------
                            Kevin G. Smith
                            Chief Financial Officer