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, 1999
                           Commission File No. 017833
                                    GREENLAND
                                   CORPORATION


           Nevada                                      87-0439051
(State or other jurisdiction of         (I.R.S. EMPLOYER IDENTIFICATION NUMBER)
incorporation or organization)
                         1935 AVENIDA DEL ORO, SUITE "D"
                               OCEANSIDE, CA 92056
              (ADDRESS AND ZIP CODE OF PRINCIPAL EXECUTIVE OFFICES

                                 (760) 414-9941
              (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                  20,613,430 SHARES OUTSTANDING
          $0.001 PAR VALUE                         AS OF MAY 22, 1999



                                        1

<PAGE>



                              GREENLAND CORPORATION
                              REPORT ON FORM 10-QSB
                          QUARTER ENDED MARCH 31, 1999
                                TABLE OF CONTENTS

PART I.                    FINANCIAL INFORMATION
ITEM 1.           FINANCIAL STATEMENTS (UNAUDITED)

         O  CONDENSED  CONSOLIDATED  BALANCE  SHEETS  AS OF MARCH  31,  1999 AND
         DECEMBER 31, 1998 O CONDENSED  CONSOLIDATED  STATEMENTS  OF  OPERATIONS
         THREE  MONTHS  ENDED MARCH 31,  1999 AND 1998 O CONDENSED  CONSOLIDATED
         STATEMENTS  OF CHANGES IN  STOCKHOLDERS'  EQUITY AS OF MARCH 31, 1999 O
         CONDENSED  CONSOLIDATED  STATEMENTS  OF CASH FLOWS AS OF MARCH 31, 1999
         AND 1998 O 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




                                        2

<PAGE>



                      GREENLAND CORPORATION AND SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
                           CONSOLIDATED BALANCE SHEETS



<TABLE>
<CAPTION>
                                                                                                 MARCH 31,         DECEMBER 31,
                                                                                                   1999                1998
                                                                                                (UNAUDITED)          (AUDITED)
                                                                                             -----------------  -----------------
ASSETS
CURRENT ASSETS
<S>                                                                                          <C>                <C>
   CASH IN BANKS                                                                             $          34,074  $            3,332
   INVENTORY                                                                                            53,205                   0
   ACCOUNTS RECEIVABLE - TRADE                                                                          15,413                   0
   ACCOUNTS RECEIVABLE - OTHER                                                                          25,000              44,250
   PREPAID EXPENSES - CURRENT PORTION                                                                   51,193              51,668
                                                                                             -----------------  ------------------

                                                                      TOTAL CURRENT ASSETS             178,885              99,250

EQUIPMENT, NET OF DEPRECIATION OF $21,736 ($18,453 IN 1998)                                             29,499              24,600

OTHER ASSETS
   PREPAID EXPENSES                                                                                     51,518              51,669
   NOTES RECEIVABLE (NOTE 3)                                                                         1,900,000           1,900,000
   INVESTMENTS (GAHI) (NOTE 3)                                                                               0           1,450,000
   CAPITALIZED SOFTWARE COSTS                                                                          186,723             186,723
   LICENSES - CHECK CENTRAL (NOTE 4)                                                                 2,625,000           2,625,000
                                                                                             -----------------  ------------------

                                                                                             $       4,971,625  $        6,337,242
                                                                                             =================  ==================

LIABILITIES AND EQUITY
CURRENT LIABILITIES
   ACCOUNTS PAYABLE                                                                          $         186,452  $          172,672
   ACCRUED EXPENSES                                                                                     19,020                   0
   NOTES PAYABLE (NOTE 5)                                                                               53,000             150,000
   NOTE PAYABLE - RELATED PARTIES (NOTE 5)                                                             214,750             223,000
   STOCK SUBSCRIPTION REFUNDS PAYABLE                                                                        0              11,000
                                                                                             -----------------  ------------------

                                                                 TOTAL CURRENT LIABILITIES             473,222             556,672

STOCKHOLDERS' EQUITY
   COMMON STOCK $.001 PAR VALUE:
     AUTHORIZED -100,000,000 SHARES
     ISSUED AND OUTSTANDING 19,765,647 SHARES (12,708,331 IN 1998)                                      19,766              12,708
   ADDITIONAL PAID-IN CAPITAL                                                                       13,800,931          12,652,183
   DEFICIT ACCUMULATED DURING DEVELOPMENT STAGE                                                     (9,322,294)         (6,884,321)
                                                                                             -----------------  ------------------

                                                                TOTAL STOCKHOLDERS' EQUITY           4,498,403           5,780,570
                                                                                             -----------------  ------------------

                                                                                             $       4,971,625  $        6,337,242
                                                                                             =================  ==================
</TABLE>

                                        3

<PAGE>



                      GREENLAND CORPORATION AND SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)



<TABLE>
<CAPTION>
                                                                                                                7/17/86
                                                                                   THREE MONTHS ENDED          (DATE OF
                                                                                        MARCH 31,            INCEPTION) TO
                                                                                  1999           1998           3/31/99
                                                                             -------------   -------------  -------------

REVENUES
<S>                                                                          <C>             <C>            <C>
   CHECK CENTRAL REVENUE                                                     $         598   $           0  $         598
   AMR SALES                                                                             0               0         55,000
   OTHER INCOME                                                                         36          10,620         76,040
                                                                             -------------   -------------  -------------

                                                                                       634          10,620        131,638

EXPENSES
   GENERAL AND ADMINISTRATIVE                                                    1,228,616         485,109      6,446,479
   DEPRECIATION                                                                      3,283           1,518         21,736
   INTEREST                                                                         18,984           8,450         83,574
   PROPERTY TAXES AND OTHER TAXES                                                    3,724               0         83,491
   BAD DEBTS                                                                        19,250               0         78,918
                                                                             -------------   -------------  -------------

                                                                                 1,273,857         495,077      6,714,198
                                                                             -------------   -------------  -------------

LOSS FROM OPERATIONS                                                            (1,273,223)       (484,457)    (6,582,560)

OTHER INCOME (LOSS)
   GAIN ON DISPOSITION OF SUBSIDIARY                                                     0               0        531,388
   LOSS ON SALE OF INVESTMENTS                                                           0               0       (742,025)
   LOSS ON SALE OF INVESTMENTS - UNREALIZED (NOTE 3)                            (1,164,750)              0     (1,164,750)
                                                                             -------------   -------------  -------------

                                        NET LOSS FROM CONTINUING OPERATIONS     (2,437,973)       (484,457)    (7,957,947)

   LOSS FROM DISCONTINUED OPERATIONS (NOTE 1)                                            0               0     (1,364,347)
                                                                             -------------   -------------  -------------

                                               NET LOSS BEFORE INCOME TAXES     (2,437,973)       (484,457)    (9,322,294)

PROVISION FOR INCOME TAXES                                                               0               0              0
                                                                             -------------   -------------  -------------

                                                                   NET LOSS  $  (2,437,973)  $    (484,457) $  (9,322,294)
                                                                             =============   =============  =============

LOSS BEFORE DISCONTINUED OPERATIONS                                          $        (.16)  $        (.05)
LOSS FROM DISCONTINUED OPERATIONS                                                      .00             .00
                                                                             -------------   -------------

                                        NET LOSS PER WEIGHTED AVERAGE SHARE  $        (.16)  $        (.05)
                                                                             =============   =============

WEIGHTED AVERAGE NUMBER OF COMMON SHARES USED TO
   COMPUTE NET INCOME (LOSS) PER WEIGHTED AVERAGE SHARE                         15,515,958       9,903,970
                                                                             =============   =============
</TABLE>


                                        4

<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 7/17/86 (DATE OF INCEPTION)                     0    $            0     $            0    $            0
   ISSUANCE OF COMMON STOCK (RESTRICTED)
     AT $.02 PER SHARE AT 7/17/86                     100,000               100              1,900
NET LOSS FOR PERIOD                                                                                           (1,950)
                                               --------------    --------------     --------------    --------------

BALANCES AT 12/31/86                                  100,000               100              1,900            (1,950)
NET LOSS FOR PERIOD                                                                                              (10)
                                               --------------    --------------     --------------    --------------

BALANCES AT 12/31/87                                  100,000               100              1,900            (1,960)
NET LOSS FOR PERIOD                                                                                              (10)
                                               --------------    --------------     --------------    --------------

BALANCES AT 12/31/88                                  100,000               100              1,900            (1,970)
NET LOSS FOR PERIOD                                                                                              (10)
                                               --------------    --------------     --------------    --------------

BALANCES AT 12/31/89                                  100,000               100              1,900            (1,980)
NET LOSS FOR PERIOD                                                                                              (10)
                                               --------------    --------------     --------------    --------------

BALANCES AT 12/31/90                                  100,000               100              1,900            (1,990)
NET LOSS FOR PERIOD                                                                                              (10)
                                               --------------    --------------     --------------    --------------

BALANCES AT 12/31/91                                  100,000               100              1,900            (2,000)
NET LOSS FOR PERIOD                                                                                                0
                                               --------------    --------------     --------------    --------------

BALANCES AT 12/31/92                                  100,000               100              1,900            (2,000)
NET LOSS FOR PERIOD                                                                                                0
                                               --------------    --------------     --------------    --------------

BALANCES AT 12/31/93                                  100,000               100              1,900            (2,000)
   ISSUANCE OF COMMON STOCK (RESTRICTED)
     AT $.33 PER SHARE FOR CASH                       120,000               120             39,880
     TO ACQUIRE SUBSIDIARY AT $30.40 PER
       SHARE AT 10/1/94                                10,000                10            303,983          (257,612)
     TO ACQUIRE ADDITIONAL RENTAL PROPERTIES
       AT $29.20 PER SHARE AT 10/1/94                  52,415                52          1,530,275
     AT PAR 10/21/94 FOR SERVICES RENDERED             13,200                13                119
NET LOSS FOR PERIOD                                                                                         (110,338)
                                               --------------    --------------     --------------    --------------
BALANCE AT 12/312/94                                  295,615               295          1,876,157          (369,950)
   ISSUANCE OF COMMON STOCK (REGULATION
     S) AT $1.00 PER SHARE FOR STOCK
       SUBSCRIPTION                                   110,000               110            109,890
   ISSUANCE OF COMMON STOCK (RESTRICTED)
     AT $48.29 PER SHARE TO CANCEL DEBT                 2,554                 3            123,317
     AT $.01 PER SHARE FOR SERVICES                    20,940                21                188
     AT $.85 PER SHARE FOR ASSETS                     850,000               850            718,479
     AT $20.00 PER SHARE FOR ASSETS                       840                 1             16,807
     AT $50.00 PER SHARE TO CANCEL DEBT                 2,000                 2             99,998
     AT $51.43 PER SHARE TO CANCEL DEBT                   500                 0             25,719
     AT $60.34 PER SHARE TO LAND OPTION                40,851                41          2,464,959
   CANCELLATION OF RESTRICTED COMMON
     STOCK                                             (4,275)               (4)          (124,825)
NET LOSS FOR PERIOD                                                                                         (587,153)
                                               --------------    --------------     --------------    --------------

BALANCES AT 12/31/95                                1,319,025             1,319          5,310,689          (957,103)
</TABLE>

                                        5

<PAGE>



                      GREENLAND CORPORATION AND SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
           CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
                                   (CONTINUED)
                                   (UNAUDITED)



<TABLE>
<CAPTION>
                                                          COMMON STOCK                ADDITIONAL
                                                        PAR VALUE $0.001               PAID - IN         RETAINED
                                                   SHARES            AMOUNT             CAPITAL           DEFICIT
                                               --------------    --------------     --------------    --------------
<S>                                            <C>               <C>                <C>               <C>
BALANCES AT 12/31/95                                1,319,025    $        1,319     $    5,310,689    $     (957,103)
   ISSUANCE OF COMMON STOCK (RESTRICTED)
     CORRECTION TO ISSUE PRICE OF SHARES
       PREVIOUSLY SOLD ON SUBSCRIPTION                                                     (14,195)
     AT $.001 PER SHARE FOR ASSETS                    127,036               127               (127)
     AT $.001 PER SHARE FOR SERVICES                   11,886                12                (12)
     AT $5.00 PER SHARE FOR CASH                       24,250                24            121,226
     AT $2.50 PER SHARE FOR CASH                      143,850               144            359,482
     AT $20.00 PER SHARE FOR CASH                       5,450                 6            108,994
     AT $10.00 PER SHARE FOR CASH                          60                 0                600
     AT $50.00 PER SHARE FOR CASH                          20                 0              1,000
     AT $30.00 PER SHARE FOR CASH                       2,800                 3             83,997
     AT $8.17 PER SHARE FOR SERVICES                    6,000                 6             48,994
     AT $10.68 PER SHARE FOR CASH                         289                 0              3,087
     AT $7.56 PER SHARE FOR SERVICES                      450                 0              3,401
     AT $3.10 PER SHARE FOR CASH                       13,200                13             40,905
   CANCELLATION OF RESTRICTED COMMON STOCK           (132,870)             (133)          (459,299)
NET LOSS FOR YEAR                                                                                           (886,162)
                                               --------------    --------------     --------------    --------------
BALANCES AT 12/31/96                                1,521,446             1,521          5,608,742        (1,843,265)
   ISSUANCE OF COMMON STOCK (RESTRICTED)
     AT $2.50 PER SHARE FOR CASH                       88,700                89            221,661
     AT $2.60 PER SHARE FOR CASH                        1,500                 2              3,898
     AT $2.83 PER SHARE FOR SERVICES                      530                 1              1,499
     AT $2.50 PER SHARE FOR SERVICES                   16,500                16             41,234
     AT $2.60 PER SHARE FOR SERVICES                    1,650                 2              4,288
     AT $1.50 PER SHARE FOR CASH                      200,000               200            299,800
     AT PAR $.001 TO SETTLE LAWSUIT                     6,138                 6                 (6)
     AT $2.50 TO SETTLE DEBT                               20                 0                 50
     AT $1.00 PER SHARE FOR CASH                      294,400               294            294,106
     AT $2.20 PER SHARE FOR SERVICES                   30,000                30             65,970
     AT $1.00 PER SHARE FOR SERVICES                   26,810                27             26,783
     AT $2.77 PER SHARE FOR SERVICES                    1,084                 1              3,002
     S-8 SHARES AT
       $2.60 PER SHARE FOR SERVICES                    70,000                70            181,930
       $2.00 PER SHARE FOR SERVICES                    10,000                10             19,990
       $1.00 PER SHARE FOR SERVICES                   210,000               210            209,790
       $.75 PER SHARE FOR SERVICES                    231,000               231            173,019
   DISPOSITION OF SUBSIDIARY                                                                                 (55,853)
NET LOSS FOR YEAR                                                                                         (1,663,040)
                                               --------------    --------------     --------------    --------------
BALANCES AT 12/31/97                                2,709,778             2,710          7,155,756        (3,562,158)
</TABLE>


                                        6

<PAGE>



                      GREENLAND CORPORATION AND SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
           CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
                                   (CONTINUED)
                                   (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    $        2,710     $    7,155,756    $   (3,562,158)
   ISSUANCE OF COMMON STOCK
     S-8 SHARES
       $.13 PER SHARE FOR SERVICES                  1,000,000             1,000            129,000
       $.19 PER SHARE FOR SERVICES                    674,000               674            127,386
       $.20 PER SHARE FOR SERVICES                    300,000               300             59,700
       $.275 PER SHARE FOR SERVICES                   200,000               200             54,800
       $.30 PER SHARE FOR SERVICES                    291,666               292             87,208
       $.50 PER SHARE FOR SERVICES                    246,500               246            123,004
       $.60 PER SHARE FOR SERVICES                    760,000               760            455,240
       $.70 PER SHARE FOR SERVICES                    167,500               167            117,083
       $1.00 PER SHARE FOR SERVICES                    20,000                20             19,980
       $1.50 PER SHARE FOR SERVICES                    96,053                96            143,988
     REGULATION "S" SHARES
       $.40 PER SHARE TO RETIRE DEBENTURE             500,000               500            199,500
       $.50 PER SHARE TO RETIRE DEBENTURE             100,000               100             49,900
       $1.00 PER SHARE TO RETIRE DEBENTURE            400,000               400            399,600
   ISSUANCE OF RESTRICTED SHARES
     $.07 PER SHARE FOR SERVICES                      310,386               310             21,417
     $.10 PER SHARE FOR SERVICES                       20,000                20                180
     $.14 PER SHARE FOR SERVICES                       26,900                27              3,739
     $.275 PER SHARE FOR SERVICES                     115,000               115             31,510
     $.295 PER SHARE FOR SERVICES                     161,028               161             47,342
     $.40 PER SHARE FOR SERVICES                      145,000               145             57,855
     $.45 PER SHARE FOR SERVICES                       35,000                35             15,715
     $.50 PER SHARE FOR CASH                           22,200                22             11,078
     $.50 PER SHARE FOR SERVICES                      208,729               209            104,051
     $.75 PER SHARE FOR SUBSIDIARY                  3,500,000             3,500          2,621,500
     $.75 PER SHARE FOR SERVICES                      350,000               350            262,150
     $.85 PER SHARE FOR SERVICES                        3,000                 3              2,547
     $1.00 PER SHARE FOR CASH                         341,300               341            340,959
     $2.00 PER SHARE FOR SERVICES                       2,500                 3              4,997
     $2.50 PER SHARE FOR SERVICES                       2,000                 2              4,998
NET LOSS FOR YEAR                                                                                         (3,322,163)
                                               --------------    --------------     --------------    --------------
BALANCES AT 12/31/98                               12,708,331            12,708         12,652,183        (6,884,321)
   ISSUANCE OF COMMON STOCK
     S-8 SHARES
       $.08 PER SHARE FOR SERVICES                    922,761               923             72,898
       $.1875 PRE SHARE FOR SERVICES                1,352,919             1,353            252.319
       $.21 PER SHARE FOR SERVICES                    850,000               850            177,650
       $.22 PER SHARE FOR SERVICES                    761,110               761            166,683
     RESTRICTED SHARES
       $.13 PER SHARE FOR SERVICES                    380,527               381             49,088
       $.15 PER SHARE FOR CASH                      1,449,999             1,450            215,650
       $.15 PER SHARE FOR SERVICES                    980,000               980            146,420
       $.19 PER SHARE FOR SERVICES                    360,000               360             68,040
NET LOSS FOR QUARTER                                                                                      (2,437,973)
                                               --------------    --------------     --------------    --------------

BALANCE AT 3/31/99                                 19,765,647    $       19,766     $   13,800,931    $   (9,322,294)
                                               ==============    ==============     ==============    ==============
</TABLE>


                                        7

<PAGE>



                      GREENLAND CORPORATION AND SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                                           7/17/86
                                                                              THREE MONTHS ENDED          (DATE OF
                                                                                   MARCH 31,            INCEPTION) TO
                                                                              1999           1998          3/31/99
                                                                         -------------  -------------   -------------
OPERATING ACTIVITIES
<S>                                                                      <C>            <C>             <C>
   NET LOSS                                                              $  (2,437,973) $    (484,457)  $  (9,322,294)
   ADJUSTMENTS TO RECONCILE NET LOSS
     TO CASH PROVIDED (REQUIRED) BY OPERATING ACTIVITIES:
       DEPRECIATION AND AMORTIZATION                                             3,283          1,518         585,952
       UNREALIZED DECREASE IN INVESTMENTS                                    1,164,750              0       1,437,719
       BOOK VALUE OF DISPOSED ASSETS/LIABILITIES                                     0              0         700,374
       STOCK ISSUED FOR SERVICES                                               938,306        589,692       3,690,753
   CHANGES IN OPERATING ASSETS AND LIABILITIES:
       INVENTORY                                                               (53,205)             0         (53,205)
       ACCOUNTS RECEIVABLE                                                      19,250              0          34,668
       PREPAID EXPENSES                                                            626           (300)       (102,169)
       ACCOUNTS PAYABLE                                                         13,780        (27,795)        186,452
       ACCRUED EXPENSES                                                         19,020        (30,081)         30,020
       PROPERTY TAXES PAYABLE                                                        0              0        (112,522)
                                                                         -------------  -------------   -------------

                                           NET CASH PROVIDED (REQUIRED)
                                                BY OPERATING ACTIVITIES       (332,163)        48,577      (2,924,252)

INVESTING ACTIVITIES
   CAPITALIZATION OF SOFTWARE COSTS                                                  0              0        (186,723)
   PURCHASE OF STOCK                                                                 0              0         (55,000)
   PURCHASE OF EQUIPMENT                                                        (8,182)          (581)        (26,321)
   ORGANIZATION COST                                                                 0              0             (50)
                                                                         -------------  -------------   -------------

                                                      NET CASH REQUIRED
                                                BY INVESTING ACTIVITIES         (8,182)          (581)       (268,094)

FINANCING ACTIVITIES
   CASH FROM SUBSIDIARY                                                              0              0          23,415
   PROCEEDS FROM SALE OF STOCK                                                 277,500        114,750       2,267,236
   COLLECTIONS OF STOCK SUBSCRIPTION                                                 0              0          40,000
   AMOUNTS BORROWED FROM (REPAID TO) STOCKHOLDERS                               55,587              0         278,587
   REPAYMENT OF LOANS                                                                0       (200,000)       (243,818)
   PROCEEDS FROM NEW LOANS                                                      38,000         43,000         861,000
                                                                         -------------  -------------   -------------

                                            NET CASH PROVIDED(REQUIRED)
                                                BY FINANCING ACTIVITIES        371,087        (42,250)      3,226,420
                                                                         -------------  -------------   -------------

                                                       INCREASE IN CASH
                                                   AND CASH EQUIVALENTS         30,742          5,746          34,074

   CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR                                3,332          6,528               0
                                                                         -------------  -------------   -------------

                                                          CASH AND CASH
                                             EQUIVALENTS AT END OF YEAR  $      34,074  $      12,274   $      34,074
                                                                         =============  =============   =============

   SUPPLEMENTAL INFORMATION
     CASH PAID FOR INTEREST                                              $         124  $       8,450   $     973,794
     ASSETS ACQUIRED BY ASSUMPTION OF DEBT AND ISSUANCE OF STOCK                     0              0      13,558,790
     CANCELLATION OF STOCK PREVIOUSLY ISSUED FOR
       ASSETS DETERMINED TO BE WORTHLESS                                             0              0         459,432
     INVESTMENT RECEIVED IN EXCHANGE FOR NON-CASH ASSETS                             0              0       3,850,000
     NET BOOK VALUE OF ASSETS EXCHANGED FOR INVESTMENT                               0              0      (1,412,077)
     LAND OPTION EXCHANGED FOR INVESTMENT                                            0              0      (2,515,000)
     STOCK ISSUED TO CANCEL DEBT                                                     0              0         907,039
                                                                         -------------  -------------   -------------

                                                                         $         124  $       8,450   $  15,821,978
                                                                         =============  =============   =============
</TABLE>

                                        8

<PAGE>



                              GREENLAND CORPORATION
                   NOTES TO CONDENSED CONSOLIDATED STATEMENTS
                          QUARTER ENDED MARCH 31, 1999


NOTE 1: 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 March
31, 1999 are not necessarily  indicative of the results that can be expected for
the year ended December 31, 1999.

NOTE 2:  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 financial
statements  for the period from July 17, 1986 (Date of  inception)  to March 31,
1999 have been  restated to reflect the loss from Gam's  operations as resulting
from discontinued operations.

NOTE 3: INVESTMENTS

Investments consist of the following items:

     1-   25,000  shares  of  common  stock  in a public  company.  The cost was
          $55,000. The stock is not currently trading; this asset has been fully
          reserved.
     2-   A 49% interest in a limited  liability  company  which was reported at
          $134,143 under the equity method. The Company has been unsuccessful in
          locating  the  principals  of this LLC in the last three  years;  this
          asset is fully reserved.
     3-   1,100,000  convertible preferred shares in a public company. The basis
          in the land option given in exchange for these shares was  $2,515,000.
          During 1998,  the Company  exchanged  the shares for notes  receivable
          valued at $1,900,000.  The investment has been reflected at a value of
          $1,900,000 as of March 31, 1999. The shares are convertible in 1999 to
          the  number  of  common  shares  (at the  then-current  market  price)
          equivalent to $2,860,000.
     4-   290,000  convertible  preferred shares of GAHI, a public company.  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.  The shares are  convertible in 1999 to the number of
          common  shares  (at  the  then-current  market  price)  equivalent  to
          $1,450,000.  Subsequent to March 31, 1999, the Company sold the shares
          to an officer of the  Company  for  $150,000  cash and  assumption  of
          $135,250  of the  Company's  debt.  The  loss of  $1,164,750  has been
          reflected in these  financial  statements as an urealized loss on sale
          of investments. (See Note 7)

NOTE 4: LICENSES

During  1998,  the  Company  acquired  100% of Check  Central,  Inc.  (a  Nevada
corporation) by issuing  3,500,000 shares of its common stock. The sole of asset
of Check Central,  Inc. was a license to use certain software in the development
of check cashing  machines.  The transaction was accounted for as a purchase and
recorded at the fair market value of the stock issued.

NOTE 5: NOTES PAYABLE

Notes payable at March 31, 1999 are summarized as follows:
         Individuals       $53,000 at 8% due December 31, 1999
         Officers          $214,750 at 8% due February 28, 2000

As additional  inducement  to the persons to loan money to the Company,  certain
warrants have been promised, but not yet issued as follows:
    200,000  shares at $.33  effective  for 2 years from  August  31,  1998
    10,000 shares at $.50 effective for 2 years from August 23, 1998
    10,000 shares at $.40  effective  for 2 years from  September  10, 1998
    10,000 shares at $.19  effective  for 2 years from  September  23, 1998
    15,000 shares at $.41 effective for 2 years from October 23, 1998

                                        9

<PAGE>



                              GREENLAND CORPORATION
             NOTES TO CONDENSED CONSOLIDATED STATEMENTS (CONTINUED)
                          QUARTER ENDED MARCH 31, 1999

NOTE 6: REVERSE STOCK SPLIT

The Company  effected a 1:10 reverse stock split on July 2, 1998. All references
to stock prices,  and numbers of shares in these financial  statements have been
adjusted to reflect the reverse  split as if it were  effective  on the earliest
date reported.

NOTE 7: SUBSEQUENT EVENTS

Subsequent to March 31, 1999, the Company entered into a transaction on April 5,
1999 with  Telenetics  Corporation  whereby  Telenetics  acquired  the  advanced
communication  technology  known as automated  meter reading ("AMR") in exchange
for shares of  Convertible  Preferred  Stock of Telenetics  with a face value of
$900,000.

Subsequent  to March 31,  1999,  the  Company  consummated  the sale of  290,000
convertible  preferred shares of Golden Age Homes, Inc.; an OTCBB  non-reporting
public  company  (the "GAHI  Shares")("GAHI")  to Chairman of the Board and CEO,
Louis T.  Montulli for total  consideration  of $280,000.  This includes cash as
well as an assumption of a current  outstanding Notes Payable of $125,000.  This
transaction  was  completed  April  23,  1999.  The loss on this  asset has been
reflected in the financial  statements as if it had occurred  during the quarter
ended March 31, 1999. The GAHI Shares are convertible in December of 1999 to the
number of common  shares (at the then market price)  equivalent  to  $1,450,000.
Prior to  entering  into this  transaction  with Mr.  Montulli,  the Company had
solicited  offers from other  parties to purchase the GAHI Shares  including the
assumption  of the note  payable of  $125,000.  Management  determined  that Mr.
Montulli's offer was the most favorable to the Company.  The sale of GAHI Shares
to Mr. Montulli is part of the Company's on-going  reevaluation of its assets to
determine  the most  effective use and benefit to the Company in relation to the
Company's operational needs.

Subsequent to March 31, 1999, the Company  commenced a private  placement of its
securities  pursuant to Regulation D Rule 506 of the  Securities Act of 1933, as
amended,  on May 4,  1999.  If  fully  subscribed,  the  offering  will  provide
approximately $4,000,000 of equity funding to the Company, exclusive of proceeds
payable to the Company through the exercise of the warrants that are part of the
offering.  The  offering  consists of Units  priced at $5.00  comprised of a 12%
Debenture  convertible  into 10 Shares of Greenland  Common Stock and 10 Class A
Warrants  exercisable at $.50 into 10 Shares of Greenland Common Stock; 10 Class
B Warrants  exercisable at $1.00 into 10 Shares of Greenland Common Stock and 10
Class C Warrants  exercisable at $1.50 into 10 Shares of Greenland Common Stock.
As of May 22,  1999,  the Company had  received  approximately  $39,000 from the
proceeds of the offering, after payment of all expenses.

                                       10

<PAGE>



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

Introduction
The  following  discussion  pertains to the Company's  operations  and financial
condition as of the end of the first quarter March 31, 1999.

In May of  1998,the  Company  purchased  the  exclusive  rights  to all of Check
Central  Inc's.,  software  and  hardware  designs for the  expressed  intent of
completing  the  development  and marketing of a  stand-alone  Check Cashing ATM
unit.  Check  Central's  technology was acquired  through an exchange of all the
issued and outstanding stock of Check Central, Inc. for 35,000,000  (pre-reverse
split) restricted shares of the Company's common stock valued at $2,625,000.

In late 1998,  after completion of further market and engineering  studies,  the
Company  determined  that a  significant  amount  of  additional  capital  and a
substantial commitment of labor resources would be required to complete research
and  development  of AMR.  Since the Company was making rapid  progress with the
Check Cashing ATM and believed that it was faster to market, took less resources
and offered a greater financial  potential for the Company, a strategic decision
was made to pursue the  development of the Company's Check Cashing ATM on a full
resource basis. Therefore,  the Company entered into a transaction,  on April 5,
1999,  with Telenetics  Corporation,  whereby  Telenetics  acquired the advanced
communication  technology  known as automated  meter reading ("AMR") in exchange
for shares of  Convertible  Preferred  Stock of Telenetics  with a face value of
$900,000 (See subsequent Events Schedule).

As a result  of the sale of AMR,  the  Company  is  engaged  exclusively  in the
development  of  proprietary  software and hardware that is capable of providing
consumers  with automated  payroll check  cashing,  ATM and money order services
delivered  through a free standing kiosk,  similar to an ATM machine (the "Check
Cashing ATM").

The Company has invested, and continues to invest,  considerable time and effort
in development of Check Cashing ATMs,  assembling a development team,  analyzing
the market,  planning the business,  creating prototype and beta test units, and
locating  reliable  manufacturers  for the Check  Cashing  ATMs.  The  Company's
strategy for  marketing and sales of the Check Cashing ATMs has been directed at
locating an established large, national distributor of ATM machines. Established
distributors have the  infrastructure  in place to sell,  service and maintain a
large volume of machines and are best equipped to penetrate  the market  quickly
and  efficiently.  This strategy allows the Company to concentrate its resources
on doing what it does best, develop reliable,  efficient  products.  The Company
successfully  implemented  this strategy by  consummating  a Master  Distributor
Agreement with SmartCash ATM, Ltd. a Dallas; Texas based national distributor on
March 30, 1999.

This  agreement  requires  SmartCash ATM to purchase 385 units (a purchase order
for these  units  totaling  $9.2  million was  received  upon  execution  of the
agreement) for 1999,  1,200 units for the year 2000 and 2,000 units for the year
2001 in order to maintain their  exclusivity.  In the event purchase  orders are
received in years 2000 and 2001 for these units (based on current  prices) these
orders could  provide Check  Central with revenue in excess of  $76,800,000  for
these two years.  Thus,  although  there can be no assurances  regarding  actual
revenue to be realized,  the total contract  could produce  revenue in excess of
$86,000,000 for Check Central through 2001.

This sales strategy will effect two significant revenue streams for the Company.
The first  source of revenue will result from the sales of Check  Cashing  ATMs.
Initially,  the Master  Distributor  will  purchase the Check  Cashing ATMs at a
wholesale  price that will  initially  result in gross margins of  approximately
50%. The Company  expects these  margins to improve as Check  Central  begins to
order machines in larger  quantities  taking  advantage of volume  discounts and
economies of scale.  The second  revenue source will result in the continuity of
"Transaction Fees" (including check cashing, ATM and money order) generated from
each  Check  Cashing  ATM.  As of March  31,  1999  the  Company  had  generated
approximately  $600 in revenue  from the two Check  Cashing ATMs placed into the
field in the first  quarter as beta test sites.  Check Central will share in the
Transaction  Fees  along  with the owners of the Check  Cashing  ATMs,  based on
individually  negotiated  contracts,  and with the Master  Distributor.  The fee
generation  of Check  Central will get larger with the  placement of  additional
Check  Cashing ATMs and, as machines  remain in  operation  in the market,  more
Transaction Fees will be generated.


Results of Operations
Revenue - The Company  reported net revenue of $598 for the first quarter ending
March 31,  1999.  This is the first  revenue  the  Company  has  generated  from
operations  of the Check  Cashing  ATM.  The revenue is credited to the two beta
units  that  were  placed  in  the  field  in  late   January  and  early  March
respectively.  The Company  expects higher  revenue from these  "company  owned"
machines in the future since their purpose during the beta phase was testing the
functionality of the machine and not to attempt maximize revenue generation.


                                       11

<PAGE>



Operations - The Company  continues to fund its operations  for the  development
and   deployment  of  Check  Cashing  ATM.  The  two  beta  units  and  the  one
demonstration  unit were  financed  primarily  from funds  received  from equity
private placements.

The Company  spent a significant  part of the first quarter  continuing to build
the  infrastructure  necessary to support not only the research and  development
effort but laying the ground  work for the various  support  groups that will be
required  for  successful  transition  from a  development  stage  company  to a
complete  manufacturing,  marketing  and service  organization.  The Company has
successfully  blended both employee and consultant based  infrastructure that is
comprised of  mechanical  and design  engineers,  software  engineers,  back-end
support personnel, with payroll check cashing experience,  and financial support
personnel.  This  organization  will be  critical to the  successful  ramp-up of
production scheduled for late second quarter of 1999.

Check  Central  has a  fully  certified  set of  subcontractors,  suppliers  and
assemblers to build machines to meet the Company's  requirements.  To ensure its
ability to meet production  schedules and gear for increased  output  (estimated
100 units  monthly by late spring  2000),  the Company has engaged in discussion
with major ATM machine  manufacturers who have expressed an interest in becoming
turnkey manufacturing partners.

Expenses
General and  Administrative  expenses for the quarter  ended March 31, 1999 were
$1,228,616 compared with $485,109 for 1998. The major reason for the increase in
G&A was due  directly  to costs  related  to the build up of the  Check  Central
division  and product  development  costs.  No resources  were  allocated to the
Airlink  Technology.  Due to lack of capital,  the Company has paid the officers
and certain  consultants  compensation  in the form of stock and as a result the
Company has issued shares of its common stock which is reflected as G&A expense.

Depreciation,  interest, property taxes and other expenses increased from $9,968
for March 31, 1998 to $25,991 for the first quarter ending March 31, 1999.  This
is attributed to increases in Notes Payable with  corresponding  annual interest
of 8%. A bad debt was recorded for an  uncollectable  employee  loan made during
prior years. The write down was for the balance owing of $19,250.

Income (Loss) - During the first quarter  ending March 31, 1999, the Company had
losses of  $2,437,973  compared to losses of $484,457  for the  previous  year's
quarter  ending  March 31st.  The  substantial  increase  in loss is  attributed
primarily to the unrealized  loss on the sale of investment  GAHI which occurred
subsequent  to March 31,  1999.  Other  factors  include an  increase in product
development  costs for Check Central,  mostly  engineering and other  consultant
fees which were compensated with stock.

Liquidity and Capital Resources
The year ending December 31, 1998 assets totaled  $6,337,242  versus  $4,971,625
for the first quarter 1999.  The  difference is the loss on the sale of the GAHI
asset of $1,164,750.  The Company's total liabilities decreased slightly for the
first quarter 1999  compared  with the year ending  December 31, 1998 due to the
fact that the  company  invested  additional  funds in  inventory  and  products
related  to the  development  of the Check  Cashing  ATM.  These  products  were
purchased  with vendor terms.  Total  liabilities  were $473,222 for the quarter
ending March 31, 1999 compared  with  $556,672 for the year ending  December 31,
1998 due to the GAHI transaction which eliminated debt obligations.

The  Company's  strategy has been and will continue to be to maximize the return
on assets for the Company and its  shareholders.  The  Company  reevaluates  its
assets on an on-going  basis to determine the most  effective use and benefit to
the Company in relation to the Company's operations needs. Based on this review,
the Company will either sell or leverage the assets for liquidity to support the
Company's capital  requirements.

Stockholder's  equity was $4,498,403 at March 31, 1999, a decrease of $1,282,167
from December 31, 1998.

The Company has a working capital deficiency of $(294,337) at March 31, 1999 and
a retained deficit of $(9,322,294). The Company's needs for working capital is a
key issue for  management  and  necessary  for the Company to meet its goals and
objectives.  The Company continues to pursue additional  capitalization  through
private  placement  and other  activities  in order to raise  funds for  ongoing
operations,  including  institutional lending,  lines of credit,  purchase order
financing and the sale of or financing of its assets.  Management  believes that
institutional  lending  will  be  available  to the  Company  once  the  Company
establishes a track record of production and shipping stability.  On May 4, 1999
the  Company  commenced  a  private  placement  of its  securities  pursuant  to
Regulation  D Rule 506 of the  Securities  Act of  1933,  as  amended.  If fully
subscribed, the offering will provide approximately $4,000,000 of equity funding
to the  Company,  exclusive  of  proceeds  payable to the  Company  through  the
exercise of the warrants that are part of the offering.  (See Subsequent  Events
Schedule)


                                       12

<PAGE>



Subsequent Events
Subsequent to March 31, 1999, the Company  entered into a transaction,  on April
5, 1999, with Telenetics  Corporation (an OTCBB fully-reporting public company),
whereby  Telenetics  acquired the  advanced  communication  technology  known as
automated meter reading ("AMR") in exchange for shares of Convertible  Preferred
Stock  of  Telenetics  with a face  value  of  $900,000.  In  late  1998,  after
completion of further market and  engineering  studies,  the Company  determined
that a significant amount of additional capital and a substantial  commitment of
labor resources  would be required to complete  research and development of AMR.
Since the  Company  was making  rapid  progress  with the Check  Cashing ATM and
believed that it was faster to market, took less resources and offered a greater
financial  potential for the Company,  a strategic  decisions was made to pursue
the development of the Company's Check Cashing ATM on a full resource basis.

Subsequent  to March 31,  1999,  the  Company  consummated  the sale of  290,000
convertible  preferred shares of Golden Age Homes, Inc.; an OTCBB  non-reporting
public  company  (the "GAHI  Shares")("GAHI")  to Chairman of the Board and CEO,
Louis T.  Montulli for total  consideration  of $280,000.  This includes cash as
well as an assumption of a current  outstanding Notes Payable of $125,000.  This
transaction  was  completed  April  23,  1999.  The loss on this  asset has been
reflected in the financial  statements as if it had occurred  during the quarter
ended March 31, 1999. The GAHI Shares are convertible in December of 1999 to the
number of common  shares (at the then market price)  equivalent  to  $1,450,000.
Prior to  entering  into this  transaction  with Mr.  Montulli,  the Company had
solicited  offers from other  parties to purchase the GAHI Shares  including the
assumption  of the note  payable of  $125,000.  Management  determined  that Mr.
Montulli's offer was the most favorable to the Company.  The sale of GAHI Shares
to Mr. Montulli is part of the Company's on-going  reevaluation of its assets to
determine  the most  effective use and benefit to the Company in relation to the
Company's operational needs.

Subsequent to March 31, 1999, the Company  commenced a private  placement of its
securities  pursuant to Regulation D Rule 506 of the  Securities Act of 1933, as
amended,  on May 4,  1999.  If  fully  subscribed,  the  offering  will  provide
approximately $4,000,000 of equity funding to the Company, exclusive of proceeds
payable to the Company through the exercise of the warrants that are part of the
offering.  The  offering  consists of Units  priced at $5.00  comprised of a 12%
Debenture  convertible  into 10 Shares of Greenland  Common Stock and 10 Class A
Warrants  exercisable at $.50 into 10 Shares of Greenland Common Stock; 10 Class
B Warrants  exercisable at $1.00 into 10 Shares of Greenland Common Stock and 10
Class C Warrants  exercisable at $1.50 into 10 Shares of Greenland Common Stock.
As of May 22,  1999,  the Company had  received  approximately  $39,000 from the
proceeds of the offering, after payment of all expenses.

                           Part II - OTHER Information

During the first  quarter of 1999 the Company  received  $53,000 in bridge loans
from three individuals,  not affiliated with the Company,  secured by the assets
of the Company  (the  "Secured  Loan").  The terms of the Secured  Loan  provide
repayment  in one year and  interest  payable at annual rate of 8%. In addition,
the holders of the Secured  Loan  purchased  Warrants to acquire an aggregate of
706,666 shares of Greenland Corporation Common Stock, with an exercise period of
two  years and an  exercise  price of one half of the  Warrants  at $.10 and the
balance at $.13.  The warrants  contain  anti-dilution  provisions.  The Company
intends to repay the Secured Loans as soon as practicable.

During the first  quarter,  officers  and  directors  of the Company  loaned the
Company  a  total  of  $214,750  as  unsecured   bridge  loans  (the  "Affiliate
Loans")(Richard  Wray $20,000;  Gene Cross $5,000;  George  Godwin  $5,000;  Lee
Swanson $25,000;  Louis T. Montulli  $154,750 and Thomas Beener $5,000).  Except
for $125,000  loaned by Louis  Montulli which will be converted to a purchase of
restricted  shares of Greenland  Common Stock at a price of $.15 per share,  the
terms of the Affiliate  Loans provide for repayment in periods ranging up to one
year and at an annual  interest rate of 8%. The Affiliate Loans also provide for
the purchase of an aggregate of 800,000 shares of Greenland Common Stock through
the  exercise  of Warrants  with an  exercise  period of two years at a price of
$.15.  The warrants to be issued in connection  with the Affiliate  Loans do not
contain  anti-dilution  provisions.  To date the warrants in connection with the
Affiliate Loans have not been issued. The Company expects to issue said warrants
shortly.

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
                  None.



                                       13

<PAGE>



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.
         (b)      Reports on  Form 8-K
                  None


                                   SIGNATURES

Pursuant to the  requirements of Section 13 or 15(d) 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

Date:  May 24, 1999             By:
                                Louis T. Montulli
                                CEO, Chairman of Board

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.

Date:  May 24, 1999             By:
                                Lee R. Swanson
                                Chief Financial Officer, Director

Date:  May 24, 1999             By:
                                Thomas J. Beener
                                Secretary, Director

Date:  May 24, 1999             By:
                                Richard Wray
                                Director, COO

Date:  May 24, 1999             By:
                                Louis T. Montulli
                                CEO, Chairman of Board



                                       14