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 September 30, 1996
Commission File No. 017833

                                    GREENLAND
                                   CORPORATION

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


                           4180 La Jolla Village Drive
                                    Suite 315
                               La Jolla, CA 92037
              (Address and zip code of principal executive offices

                                 (619) 458-4226
              (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               16,759,297 Shares Outstanding
$0.001 par value                       as of  October 28, 1996


<PAGE>


                     GREENLAND CORPORATION AND SUBSIDIARIES
                              REPORT ON FORM 10-QSB
                        QUARTER ENDED SEPTEMBER 30, 1996
                                TABLE OF CONTENTS

Part I.        Financial Information
Item 1.        Financial Statements

               Condensed  consolidated  balance  sheets as of September 30, 1996
               and December 31, 1995

                    Condensed consolidated statements of operations Three months
                         ended  September  30, 1996 and 1995 Nine  months  ended
                         September 30, 1996 and 1995

                    Condensed    consolidated    statements    of   changes   in
                    stockholders' equity as of September 30, 1996

                    Condensed  consolidated  statements  of  cash  flows  as  of
                    September 30, 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


                                        1

<PAGE>



                     GREENLAND CORPORATION AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
                                                                  Sept. 30, 1996               Dec. 31, 1995
                                                              ----------------------      ------------------
ASSETS                                                              (unaudited)                  (audited)
Current assets:
<S>                                                           <C>                         <C>
     Cash in bank                                             $               42,511      $                8,523
     Refundable deposits                                                       5,186                       1,969
     Prepaid expenses                                                         41,000                           0
     Accounts receivable                                                      10,000                           0
     Notes receivable                                                         59,668                      59,668
     Accounts receivable, officers                                            55,898                           0
                                                              ----------------------      ----------------------
         Total current assets                                                214,263                      70,160

     Rental properties, net of depreciation                                5,096,028                   5,096,627

Other assets:
     Land option                                                           2,515,000                   2,515,000
     Licenses                                                                959,432                     959,432
     Investments                                                             152,893                     152,893
     Capitalized software                                                     89,646                           0
                                                              ----------------------      ----------------------

                                                              $            9,027,262      $            8,794,112
                                                              ======================      ======================

LIABILITIES AND EQUITY
Current liabilities:
     Accounts payable                                         $               79,214      $               28,321
     Tenant deposits                                                          20,108                      21,829
     Property taxes payable                                                   48,775                      22,364
     Accrued salaries                                                         49,800                           0
     Accrued interest payable                                                  5,365                       5,365
     Notes payable                                                             5,000                      50,000
     Current portion of long-term debt                                       126,288                     139,644
                                                              ----------------------      ----------------------
          Total current liabilities                                          334,550                     267,523

     Payable to stockholders                                                 290,790                     300,790
     Long-term debt                                                        4,070,759                   3,925,089
                                                              ----------------------      ----------------------
         Total liabilities                                                 4,696,099                   4,493,402

STOCKHOLDERS' EQUITY

Common stock
     $0.001 par value: 25,000,000 authorized;
     16,443,297 shares  issued and outstanding
     (13,190,253 at 12/31/95)                                                 16,444                      13,190
Less subscriptions receivable                                                      0                     (54,195)
Additional paid-in capital                                                 5,791,947                   5,298,818
Retained deficit                                                          (1,477,228)                   (957,103)
                                                              ----------------------      ----------------------

          Total stockholders' equity                                       4,331,163                   4,300,710
                                                              ----------------------      ----------------------

                                                              $            9,027,262      $            8,794,112
                                                              ======================      ======================
</TABLE>

                 See accompanying notes to financial statements.



                                        2

<PAGE>



                     GREENLAND CORPORATION AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
                                                                         Three Months Ended Sept. 30,
                                                                       1996                        1995
                                                                    (unaudited)                 (unaudited)
Revenue:
<S>                                                           <C>                         <C>
     Rental income                                            $              142,257      $              104,805
     AMR and other income                                                     11,748                           0
                                                              ----------------------      ----------------------
          Net revenue                                                        154,005                     104,805

Expenses:
     General and administrative                                              205,277                      50,848
     Depreciation                                                             40,727                      46,713
     Property and other taxes                                                 28,933                      12,000
     Interest                                                                 98,922                      72,547
                                                              ----------------------      ----------------------
                                                                             373,859                     182,108
                                                              ----------------------      ----------------------

Loss from operations                                                        (219,854)                    (77,303)

Other income (expense)                                                             0                           0

Provision for income taxes                                                         0                           0
                                                              ----------------------      ----------------------

          Net loss                                            $             (219,854)     $              (77,303)
                                                              ======================      ======================

Net loss per share*                                           $                (0.01)     $                (0.02)
                                                              ======================      ======================

*Weighted average number of common
      shares used to compute loss per share                               16,048,835                   3,348,357
</TABLE>

                 See accompanying notes to financial statements.

                                        3

<PAGE>



                     GREENLAND CORPORATION AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
                                                                          Nine Months Ended Sept. 30,
                                                                       1996                        1995
                                                                    (unaudited)                 (unaudited)
Revenue:
<S>                                                           <C>                         <C>
     Rental income                                            $              351,654      $              339,480
     AMR and other income                                                     92,966                           0
                                                              ----------------------      ----------------------

         Net revenue                                                         444,620                     339,480

Expenses:
     General and administrative                                              545,161                     172,017
     Depreciation                                                            122,181                     140,139
     Property and other taxes                                                 46,054                      38,000
     Interest                                                                251,349                     232,791
                                                              ----------------------      ----------------------
                                                                             964,745                     582,947

Loss from operations                                                        (520,125)                   (243,467)

Other expense                                                                      0                     (20,194)

Provision for income taxes                                                         0                           0
                                                              ----------------------      ----------------------

         Net loss                                             $             (520,125)     $             (263,661)
                                                              ======================      ======================

Net loss per share*                                           $                (0.03)     $                (0.07)
                                                              ======================      ======================

*Weighted average number of common
   shares used to compute loss per share                                  16,048,835                   3,348,357
</TABLE>

                 See accompanying notes to financial statements.



                                        4

<PAGE>



                     GREENLAND CORPORATION AND SUBSIDIARIES
            CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
<TABLE>
<CAPTION>
                                                     Common Stock              Additional
                                                   Par Value $0.001              Paid-In             Retained
                                                Shares         Amount            Capital              Deficit
<S>                                         <C>             <C>            <C>                 <C>
Balances at 12/31/94                             2,956,147          2,956           1,873,496             (369,950)
    Private sale of  common stock                1,100,000          1,100             108,900
    Issuance of common (restricted) to
      cancel debt                                   58,944             59             265,788
    Issuance of common (restricted)
      for services                                 209,400            209
    Issuance of common (restricted)
      for assets                                 8,500,000          8,500             710,829
    Issuance of common (restricted)
      for land option                              408,512            409           2,464,591
    Cancellation of restricted common
      stock                                        (42,750)           (43)           (124,786)
Net loss for year                                        0              0                   0             (587,153)
                                            --------------  -------------  ------------------  -------------------

Balances at 12/31/95                            13,190,253  $      13,190  $        5,298,818  $          (957,103)
                                            --------------  -------------  ------------------  -------------------
    Private sales of  common stock
      (restricted)                                 131,500            132              74,993
    Issuance of common pursuant
      to acquisitions                            1,080,299          1,080                   0
    Cancellation of common stock
      and adjustments                             (337,252)          (337)         (1,910,577)
    Issuance of common (restricted)
      for land option                            1,270,359          1,270           1,908,539
Net loss for period                                                                                       (110,661)
                                            --------------  -------------  ------------------  -------------------
Balances at 3/31/96                             15,335,159  $      15,335  $        5,371,773  $        (1,067,764)
                                            ==============  =============  ==================  ===================
    Private sale of  common stock                  250,000            250              62,250
    Private sales of  common stock
      (restricted)                                 157,200            157             119,343
    Issuance of common (restricted)
      for services                                   3,388              3               3,583
    Issuance of common (restricted)
      to cancel debt                                60,000             60              48,940
Net loss for period                                                                                       (189,610)
                                            --------------  -------------  ------------------  -------------------
Balances at 6/30/96                             15,805,747  $      15,806  $        5,605,889  $        (1,257,374)
                                            ==============  =============  ==================  ===================
    Private sales of common stock
      (restricted)                                 500,000            500             143,750
    Issuance of common (restricted)
      for services                                   5,550             56               1,388
    Issuance of common stock pursuant
      to S-8                                       132,000            132              40,920
Net loss for period                                                                                       (219,854)
                                            --------------  -------------  ------------------  -------------------
Balances at 9/30/96                             16,443,297  $      16,444  $        5,791,947  $        (1,477,228)
                                            ==============  =============  ==================  ===================
</TABLE>


                 See accompanying notes to financial statements.



                                        5

<PAGE>



                     GREENLAND CORPORATION AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
<TABLE>
<CAPTION>
                                                                                              9 Months Ended
                                                                                              Sept. 30, 1996
                                                                                                (unaudited)
OPERATING ACTIVITIES
<S>                                                                                       <C>
   Net loss                                                                               $             (520,125)
   Adjustments to reconcile net loss to cash used by operating activities:
     Depreciation                                                                                        122,182
   Stock issued for services/debt                                                                         94,968

   Changes in operating assets and liabilities:
     Increase in deposits                                                                                 (3,217)
     Increase in accounts receivable                                                                     (10,000)
     Increase in accounts receivable, officer                                                            (55,898)
     Increase in prepaid expenses or other expenses                                                      (41,000)
     Increase in capitalized software                                                                    (89,646)
     Increase in accounts payable                                                                         50,893
     Decrease in tenant deposits                                                                          (1,721)
     Increase in accrued property taxes                                                                   26,411
     Increase in accrued salaries                                                                         49,800
     Decrease in current portion long-term debt                                                          (13,356)
                                                                                          ----------------------

Net cash required by operating activities                                                               (390,709)

FINANCING ACTIVITIES
   Amounts paid to stockholder                                                                           (10,000)
   Retirement of long-term debt                                                                          145,669
   Repayment of loans                                                                                    (45,000)
   Proceeds from sale of stock                                                                           455,610
                                                                                          ----------------------

Net cash provided by financing activities                                                                546,279
                                                                                          ----------------------

INVESTING ACTIVITIES
   Acquisition of rental properties                                                                     (121,582)
   Purchase of Equipment                                                                                       0
                                                                                          ----------------------
Net cash used by investing activities                                                                   (121,582)
                                                                                          ----------------------

Increase (decrease) in cash and cash equivalents                                                          33,988

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

Cash and cash equivalents at end of period                                                $               42,511
                                                                                          ======================

SUPPLEMENTAL INFORMATION
   Cash paid for interest                                                                 $               98,922
</TABLE>

                 See accompanying notes to financial statements.


                                        6

<PAGE>



                     GREENLAND CORPORATION AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                        QUARTER ENDED SEPTEMBER 30, 1996

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, 1995. 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
September  30, 1996 are not  necessarily  indicative  of the results that can be
expected for the year ended December 31, 1996.

NOTE 2: PRIVATE PLACEMENT; EQUITY FINANCING

     The Company issued a Private Placement Memorandum pursuant to Regulation D,
Rule 505 during the first  quarter  (and  revised on April 9, 1996 and on August
23, 1996) to sell an aggregate of 4,000,000  shares of  restricted  common stock
for a total of  $1,000,000.  During the three month period ended  September  30,
1996, a total of $143,750 was raised pursuant to the Private  Placement.  During
the prior  three-month  period  ended June 31,  1996,  a total of  $119,343  was
raised.  The total amount raised pursuant to the Private  Placement for the nine
month period ended September 30, 1996 was $263,093.

     The  Company  has  also  entered  into an  agreement  with  Select  Capital
Advisors,  Inc.  of Miami,  Florida to use its best  efforts to arrange  for the
placement  of $2.5  million  of  presently  unauthorized  preferred  stock  (the
issuance of which is subject to shareholder approval). Additionally, Select will
provide its best efforts to arrange debt financing for the Company in the amount
of $3 million in the form of letters of credit to support  sales of  Greenland's
AirLink automated meter reading technology to utilities.

NOTE 3: IVDS LICENSES

     In August 1996,  the Company filed,  on Form 8-K, a disclosure  that it had
discovered  certain  information  related  to the  Interactive  Video  and  Data
Services   ("IVDS")   telecommunications   licenses   acquired  from  Integrated
Communications  Access  Network,  Inc.  ("Integrated")  held  by  the  Company's
wholly-owned ICAN, Inc. subsidiary.  Management has determined that there may be
irregularities  related to the proper  transfer of  ownership  of the  licenses,
including  irregularities  on the  transfer of the  licenses  from the  original
licensees to Integrated.  While management has not made a final determination of
the status of the licenses,  the Company,  as of August 22, 1996 has filed suit,
in San Diego Superior  Court,  against  parties that it believes have been legal
holders of the licenses or had fraudulently claimed such status.

     While the Company lists the IVDS licenses on its consolidated balance sheet
at this time,  pending  the outcome of its  litigation,  the Company may need to
write off the associated assets and corresponding  liabilities.  The Company has
requested the Court to rescind the transaction. Should the Court decide in favor
of the Company the Company would adjust its  consolidated  financial  statements
accordingly.

                                      7

<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 September 30, 1996 and 1995, respectively.

     The operations of the Company's meter reading  operations are  consolidated
in the Company's financial  statements.  The Company's AMR operations have been,
until recently,  exclusively  devoted to research and  development.  The Company
began its marketing and sales efforts in June 1996,  and has  contracted for the
installation  of test systems of its AirLinkT  automated meter reading system in
Oregon,  Utah, and  Connecticut.  The Company charges utility  customers for its
costs and expenses associated with such testing. Test installations are promoted
in order to  advance  the sales  process,  which can  result in orders  for full
buildout of AirLink systems.

     The  Company's  other   operations  have  been  devoted  to  those  of  its
wholly-owned GAM Properties,  Inc. subsidiary.  GAM owns and manages a number of
residential and commercial income properties in California.

     The Company's ICAN  subsidiary  holds IVDS licenses in three U.S. cities as
its only assets. The Company currently lists as assets,  three such licenses for
Lubbock,  Texas,  Knoxville,   Tennessee,  and  Olympia,  Washington.  There  is
considerable  uncertainty as to the  disposition of these assets and the Company
may elect to discontinue these operations.  See "Notes to Consolidated Financial
Statements."

     The  Company  owns a 49%  interest  in  Signature  Leasing,  LLC,  a Nevada
Corporation  ("Signature").  Signature  is a  commercial  leasing  company.  The
Company has not  consolidated  the  operations of Signature as it was a minority
shareholder at September 30, 1996.

Results of Operations

Revenues

     Rental income totaled  $142,257 for the three month period ended  September
30,  1996,  an  increase  of $37,452 or 26.3% from the prior year  period.  This
increase  was due  primarily  to changes  in the  composition  of the  Company's
property  portfolio  and  variable  occupancy  rates from the prior year period.
Rental  income for the nine month period ended  September  30, 1996 was $351,654
compared to $339,480 for the prior nine month period; a decrease of $12,174. The
San Diego rental market remains  essentially flat; but the Company has been able
to stabilize occupancy rates and, in certain cases, to increase rental rates.

     Other income for the three months ended  September  30, 1996 was $11,748 of
which $10,000 is  attributed  to sales  related to its  automated  meter reading
activities.  The Company had no income from such  activities  in the prior year.
For the nine month period ended September 30, 1996, the Company had other income
of $92,966  compared to no other income in the prior year six month period.  For
the nine month period,  $30,000 is attributed  directly to test installations of
the Company's AirLink system.

Expenses

     General  and  administrative  expenses  for the three  month  period  ended
September  30,  1996 were  $205,277  as  compared  to $50,848 for the prior year
period,  an  increase  of $154,429 or 304%.  This  increase is  attributable  to
increased  costs  related to the  broadened  management  and  operations  of the
Company over the past year,  particularly  related to increased staff to support
the Company's  automated meter reading operations.  Of this amount,  $17,946 was
related to parts and equipment  devoted to AirLink  manufacturing  and $3,772 to
AirLink  sales  and  marketing  activities.  For the  nine  month  period  ended
September  30,  1996,  general  and  administrative  expenses  were  $545,161 as
compared to $172,017 for the prior year, an increase of $373,144.

                                       8

<PAGE>

     Depreciation  expense was  $40,727 for the third  quarter of fiscal 1996 as
compared to $46,713 in the previous year period,  a decrease of $5,986 or 12.8%,
which is attributable to changes in the Company's  portfolio of properties.  For
the nine month period ended  September  30, 1996,  depreciation  was $122,181 as
compared to $140,139 in the previous year's nine month period.

     Interest  expense  was  $98,922  in the third  quarter  period of 1996,  an
increase of $26,375 or 36.4%  compared to the prior year third  quarter  period.
Interest expense for the nine month period ended September 30, 1996 was $251,349
compared to  $232,791  for the prior  year,  an increase of $18,558,  or 8%. The
increase in interest  expense  during the nine month period ended  September 30,
1996 are due primarily to changes in the Company's real estate portfolio and the
associated indebtedness.

     Property  and other taxes for the three month period  ended  September  30,
1996 were $28,933 compared to $12,000 in the previous year's second quarter,  an
increase of $16,933 or 141.1%. This increase was primarily caused by an increase
in taxes on the Company's Tucson,  Arizona  property.  For the nine month period
ended  September 30, 1996,  taxes were $46,054  compared to taxes of $38,000 for
the prior  year's  nine  month  period,  an  increase  of  $8,054 or 21.1%.  The
increases are attributable to the changes in the composition of the Company's of
real estate properties upon which value property taxes are assessed.

Real Estate Operations

     The Company's  wholly-owned GAM Properties,  Inc.  subsidiary  continued to
improve the composition of its real estate portfolio during the third quarter of
fiscal 1996 with the objective of maintaining  and improving its current assets.
Management is encouraged by the market  indications  that show an improvement in
the  rental  property  market in and around  San Diego  County.  Notwithstanding
management's  belief that its gross rental  income will  increase in  subsequent
periods,  the  Company  continues  to  reduce  its debt on its  properties.  The
combination  of these  factors  are  expected  to have a positive  effect on the
Company's cash flow and equity.

     During the third  quarter of 1996,  the Company was able to raise its rents
4% to 11% on most properties.  However,  there were a few properties where there
were no rent  increases.  These rent  increases  are in  keeping  with the trend
toward  gradual  increases in rents  throughout  most of San Diego  county.  The
Company maintained a 91% occupancy rate during the third quarter.  Two-thirds of
the vacancy  consisted of small  office  space at the Adams Avenue  Professional
Center during renovations to the property.

     The company has made several  improvements and performed some  preventative
maintenance  to  several  of its  properties  during  the  third  quarter  ended
September 30, 1996.

     The  Company has plans to exchange  its equity in  selected  properties  in
order to improve its cash flow. Management hopes that financing will become more
available  next  fiscal  year in order to enable the  Company to achieve  better
financial results.

Automated Meter Reading Operations

     The Company has continued to fund the research and  development  efforts of
its automated meter reading  operations.  During the third quarter,  the Company
participated  as  an  exhibitor  at  the  Automated  Meter  Reading  Association
symposium in New Orleans, Louisiana to promote its AirLink system.

     The Company has an agreement to install test systems in Oregon with Emerald
Peoples  Utility  District  and began to install a system in the third  quarter.
During the period  ended  September  30,  1996 the  Company  contracted  for two
additional tests with Springville  City Electric  (Springville,  Utah) and Third
Taxing  District  of Norwalk  (East  Norwalk,  Connecticut).  Customers  pay the
Company fees of $10,000 plus expenses for the  installation of an AirLink system
composed of 100 data points.  Tests are  anticipated to be sixty to ninety days'
duration.

                                       9

<PAGE>

     The Company  continues to modify and improve its  technology,  and will use
its field  testing to  continue  this  process  in order to provide  competitive
advantage.  The Company is currently in  discussions  with several dozen utility
companies in the United States related to  installation  of test systems or full
buildout.  In order to support these efforts, the Company has added to its sales
staff with representatives in California and Kansas.

Other Operations

     Management is, as yet,  unsure about the operations of the Company's  ICAN,
Inc. subsidiary,  which holds the Company's IVDS broadcast licenses,  which will
require  the Company to make  progress  payments  to the FCC  regardless  of the
Company's operations associated with them. At this time, management is uncertain
as to the legal status of its  licenses,  which were  acquired  from  Integrated
Communications  Access Network,  Inc. in December 1995. The Company is currently
involved as the plaintiff in litigation related to these assets.  Depending upon
the outcome of legal proceedings,  the Company may be required to write down the
assets associated with the licenses.

Liquidity and Capital Resources

     The  Company's  total assets were by  $9,027,262  at September 30, 1996, an
increase of $274,149,  or 3.1%,  over to the year ended December 31, 1995.  This
increase  in  assets is based on  additions  to cash and the  capitalization  of
software  associated  with  the  development  of  its  automated  meter  reading
technology. Such capitalization is pursuant to SFAS 86 "Accounting for the costs
of computer software to be sold, leased or otherwise marketed."

     At September 30, 1996, the Company's total liabilities were $4,696,099,  an
increase of $243,697  (5.4%) over the year ended December 31, 1995. The increase
is  attributable  to increases in long-term debt  associated  with the Company's
real  estate  properties,   and  increased  payments  associated  with  expanded
operations of the Company.  Stockholders' equity was $4,331,163 at September 30,
1996, an increase of $30,453 over the year ended December 31, 1995.

     The Company had negative working capital of $120,287 at September 30, 1996.
The Company has only  recently  begun  marketing  its  automated  meter  reading
technology  and products and there can be no assurance  that  revenues from such
efforts will be  forthcoming  in the immediate  near future.  Consequently,  the
Company  will  require   additional   capital  to  offset  ongoing  losses  from
operations.  The  Company is in the process of a private  placement  offering to
sell up to 4,000,000  shares of  restricted  common  stock to raise  $1,000,000,
which would eliminate the pressures associated with this condition.  The Company
continues  to seek buyers  and/or  lenders to leverage  its  purchase  option on
property in Arizona, which could assist in providing additional working capital.
The Company is also investigating other corporate financing  activities in order
meet its ongoing requirements for working capital to grow its business;  and has
entered into an agreement with Select Capital Advisors,  Inc. of Miami,  Florida
to assist in the  placement of up to $2.5 million in equity  financing  and a $3
million line of credit.

                                       10

<PAGE>


PART II - OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS

     At this time, the company is involved in two legal matters. (1) The Company
is suing former consultants for fraud and misrepresentation, among other things,
related to the transfer of IVDS licenses to the company;  and Greenland hopes to
rescind the shares it paid for these assets.  These  consultants have also filed
suit against the company for approximately  $70,000 for monies they believe they
are owed.  However,  management  believes that this suit is  completely  without
merit and plans to  vigorously  defend it as well as pursue its  action  against
said consultants.  (2) The company has been sued by a former consultant  related
to its abandoned (in 1995) beverage operations. The remedy sought is the payment
to said consultant  common stock of the Company and cash. The Company has issued
the  stock;  however,  consultant  did not  accept  it and  continues  to demand
additional  payment of $100,000  cash.  The case is currently  in the  discovery
stage and will not go to trial  (assuming a settlement  is not reached  earlier)
before April of 1997.

     The Company's officers and directors are aware of no additional  threatened
or  pending  litigation  which  would  have a  material,  adverse  effect on the
Company.

ITEM 2 - CHANGES IN SECURITIES

   Not applicable.

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

          Form 8-K filed August 23, 1996,  related to management's  discovery of
          certain information related to the Interactive Video and Data Services
          ("IVDS")   telecommunications   licenses   held   by   the   Company's
          wholly-owned ICAN, Inc. subsidiary. Also see, "Management's Discussion
          and Analysis of Operations" and "Legal Proceedings."




                                       11

<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




October 30, 1996          Signed
                          Kevin G. Smith
                          Chairman and Chief Executive Officer




October 30, 1996          Signed
                          Eric W. Gaer
                          President




October 30, 1996          Signed
                          Michael H. deDomenico
                          Chief Financial Officer


                                       12