SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                   FORM 10QSB


                  Quarterly Report under Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


For Quarter Ended                                 Commission File Number
-----------------                                 ----------------------
June 30, 2000                                           000-26907


                        BIO AMERICAN CAPITAL CORPORATION
            ---------------------------------------------------------
             (Exact name of registrant as specified in its charter)


            Nevada                                       93-1118938
--------------------------------                        -------------------
     (State of incorporation)                           (I.R.S. Employer
                                                        Identification No.)

             462 Stevens Avenue, Suite #308, Solana Beach, CA 92075
            ---------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code:  (858) 793-5900


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 the  filing
requirements for at least the past 90 days.

                                  Yes  X       No
                                     -----        ------
Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date.

                   3,930,250 common shares as of June 30, 2000

<PAGE>

ITEM 1.  FINANCIAL STATEMENTS
-------  --------------------

     For  financial  information,  please see the financial  statements  and the
notes thereto, attached hereto and incorporated by this reference.

     The  financial  statements  have  been  prepared  by  Bio-American  Capital
Corporation  without  audit  pursuant  to  the  rules  and  regulations  of  the
Securities  and  Exchange   Commission.   Certain   information   and  footnotes
disclosures  normally  included in financial  statements  prepared in accordance
with generally accepted accounting  principles have been condensed or omitted as
allowed  by such  rules  and  regulations,  and  management  believes  that  the
disclosures are adequate to make the information presented not misleading. These
financial  statements  include  all the  adjustments  which,  in the  opinion of
management,  are  necessary to a fair  presentation  of  financial  position and
results  of  operations.  All such  adjustments  are of a normal  and  recurring
nature.  These  financial  statements  should  be read in  conjunction  with the
audited  financial  statements  at December 31, 1999,  included in the Company's
Form 10-SB.


<PAGE>
<TABLE>
<CAPTION>

                           BIO-AMERICAN CAPITAL CORP.
                         (A Development Stage Company)
                                 Balance Sheet
                                  (Unuadited)

                                                                 June 30,           December 31,
                                                                   2000                 1999
                                                               -------------      -----------------
                                                               (Unaudited)
<S>                                                                <C>                    <C>

ASSETS:

Current Assets:
     Cash                                                              $ 47                  $ 589
     Interest Receivable                                                  -                      -
     Notes Receivable                                                     -                      -
                                                               -------------      -----------------

TOTAL ASSETS                                                           $ 47                  $ 589
                                                               =============      =================


LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT):

Current Liabilities:
  Accounts Payable                                                  $63,917               $ 47,074
  Accrued Liabilities                                                     -                  1,087
  Notes Payable                                                           -                 16,500
                                                               -------------      -----------------
Total Current Liabilities                                            63,917                 64,661
                                                               -------------      -----------------

Stockholders' Equity (Deficit):
     Common Stock, par value $0.001; 100,000,000
       shares authorized; 3,930,250 shares issued and
       outstanding in 2000, and 1,830,250 shares issued
       and outstanding in 1999.                                       3,930                  1,830
   Additional Paid-in Capital                                       543,083                503,183
   Accumulated Deficit during the Development Stage                (610,883)              (569,085)
                                                               -------------      -----------------
Total Stockholders' Equity (Deficit)                                (63,870)               (64,072)
                                                               -------------      -----------------

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)                     $ 47                  $ 589
                                                               =============      =================


</TABLE>

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

<PAGE>

<TABLE>
<CAPTION>

                           BIO-AMERICAN CAPITAL CORP.
                         (A Development Stage Company)
                            Statement of Operations
       For the Three and Six Months Ended June 30, 2000 and June 30, 1999
     With Comparative Totals from May 5, 1992 (Inception) to June 30, 2000
                            (Unaudited)
                                                                                                              (Unaudited)
                                                                                                                 For the
                                                                                                                 Period
                                                        (Unaudited)                    (Unaudited)             May 5, 1992
                                                     Three Months Ended              Six Months Ended          (Inception) to
                                                          June 30,                       June 30,               June 30,
                                                 ---------------------------    ---------------------------
                                                    2000            1999           2000               1999        2000
                                                 -----------     -----------    -----------     -----------    ------------
<S>                                               <C>              <C>           <C>             <C>            <C>
REVENUE:                                                $ -             $ -            $ -             $ -             $ -


EXPENSES:

   Provision for Bad Debt                                 -               -              -               -         453,432
   Amortization                                           -               -              -               -             500
   Professional Expenses                              6,494             215          6,494           7,208          41,307
   Management Fees                                   15,000          15,000         30,000          30,000         100,000
   Travel & Other                                        30              30             60              68           2,185
   Office Expenses                                    2,250           2,250          4,500           4,500          15,000
                                                 -----------     -----------    -----------     -----------    ------------
TOTAL EXPENSES                                       23,774          17,495         41,054          41,776         612,424

OTHER INCOME                                              -          13,502              -          27,004          30,376

OTHER EXPENSE                                           249             100            744             100           1,831
                                                 -----------     -----------    -----------     -----------    ------------

NET LOSS                                          $ (24,023)       $ (4,093)     $ (41,798)      $ (14,872)     $ (583,879)
                                                 ===========     ===========    ===========     ===========    ============

NET LOSS PER SHARE                                  $ (0.01)            $ -        $ (0.02)        $ (0.01)
                                                 ===========     ===========    ===========     ===========

WEIGHTED AVERAGE SHARES OUTSTANDING               2,891,800       1,830,250      2,360,920       1,830,250
                                                 ===========     ===========    ===========     ===========

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

</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                           BIO-AMERICAN CAPITAL CORP.
                         (A Development Stage Company)
                            Statements of Cash Flows
   For the Three Months and Six Months Ended June 30, 2000 and June 30, 1999
     With Comparative Totals from May 5, 1992 (Inception) to June 30, 2000
                                   (Unaudited)

                                                                                                                (Unaudited)
                                                                                                                  For the
                                                                                                                  Period
                                                          (Unaudited)                 (Unaudited)               May 5, 1992
                                                       Three Months Ended           Six Months Ended            (Inception) to
                                                            June 30,                    June 30,                 June 30,
                                                     -----------------------    -------------------------
                                                       2000          1999         2000           1999              2000
                                                     ----------    ---------    ----------    -----------       ------------
<S>                                                   <C>           <C>         <C>            <C>               <C>    <C>
CASH FLOWS FROM OPERATING ACTIVITIES:

Net Loss                                              $(24,023)     $(4,093)    $ (41,798)     $ (14,872)        $ (610,883)
Adjustments to reconcile net loss to net cash
  used in operating activities;
  Amortization                                               -            -             -              -                500
  Changes in assets and liabilities:
     Increase (Decrease) in Accounts Payable              (407)       1,946        16,843         (9,377)            63,917
     Increase (Decrease)  in Accrued Liabilities        (1,582)         100        (1,087)           100                  -
     Increase in Interest Receivable                         -      (13,502)            -        (27,004)                 -
    Decrease in Notes Payable                          (16,500)           -       (16,500)             -                  -
                                                     ----------    ---------    ----------    -----------       ------------
Net Cash Used in Operating Activities                  (42,512)     (15,549)      (42,542)       (51,153)          (546,466)

CASH FLOWS FROM INVESTING ACTIVITIES:

     Incorporation Costs                                     -            -             -              -               (500)
                                                     ----------    ---------    ----------    -----------       ------------
Net Cash Used in Investing Activities                        -            -             -              -               (500)

CASH FLOWS FROM FINANCING ACTIVITIES:

    Proceeds from Sale of Common Stock                  42,000            0        42,000         13,200            547,013
     Proceeds from Notes Payable                             0       16,500             -         16,500                  -
                                                     ----------    ---------    ----------    -----------       ------------
Net Cash Provided by Financing Activities               42,000       16,500        42,000         29,700            547,013

(Decrease) Increase in Cash                               (512)         951          (542)       (21,453)                47

Cash - Beginning of Period                                 559        7,416           589         29,820                  -
                                                     ----------    ---------    ----------    -----------       ------------

Cash - End of Period                                      $ 47      $ 8,367          $ 47        $ 8,367               $ 47
                                                     ==========    =========    ==========    ===========       ============

Supplemental Disclosures of Cash Flow Information
  Cash paid during the year for:

       Interest                                          $ 249        $ 100         $ 744          $ 100            $ 1,831
                                                     ==========    =========    ==========    ===========       ============
       Income taxes                                        $ -          $ -           $ -            $ -                $ -
                                                     ==========    =========    ==========    ===========       ============


</TABLE>


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

<PAGE>

<TABLE>
<CAPTION>
                           BIO-AMERICAN CAPITAL CORP.
                         (A Development Stage Company)
            Statements of Changes in Stockholders' Equity (Deficit)
            For the Period May 5, 1992 (Inception) to June 30, 2000
                                  (Unaudited)
                                                                                                               Defict
                                                                                                              Accumulated
                                                                               Additional       Stock        During the
                                                        Common Stocks           Paid-In       Subscription    Development
                                                     Shares        Amount       Capital        Receivable      Stage         Total
                                                    -------       --------     ----------     ------------   ------------    -----
<S>                                                  <C>            <C>           <C>            <C>        <C>           <C>
Balance - May 5, 1992 (Inception)                            -         $ -              $ -          $ -           $ -          $ -
                                                      ---------    ---------      ----------    ---------       --------    --------
Balance - December 31, 1992                                  -           -                -            -             -            -

Issuance to Founders for Cash                           39,000          39            7,761            -             -        7,800
Net Loss                                                     -           -                -            -        (1,285)      (1,285)
                                                      ---------    ---------      ----------    ---------       --------    --------
Balance - December 31, 1993                             39,000          39            7,761            -        (1,285)       6,515

Net Loss                                                     -           -                -            -        (2,732)      (2,732)
                                                      ---------    ---------      ----------    ---------       --------    --------
Balance - December 31, 1994                             39,000          39            7,761            -        (4,017)       3,783

Net Loss                                                     -           -                -            -        (3,583)      (3,583)
                                                      ---------    ---------      ----------    ---------       --------    --------
Balance - December 31, 1995                             39,000          39            7,761            -        (7,600)         200
Net Loss                                                     -           -                -            -          (185)        (185)
                                                      ---------    ---------      ----------    ---------       --------    --------
Balance - December 31, 1996                             39,000          39            7,761            -        (7,785)          15

Net Loss                                                     -           -                -            -          (185)        (185)
                                                      ---------    ---------      ----------    ---------       --------    --------
Balance - December 31, 1997                             39,000          39            7,761            -        (7,970)        (170)

Issuance of Stock for cash  - January 5, 1998          251,250         251            4,749            -             -        5,000
Issuance of Stock for cash - December 11, 1998       1,500,000       1,500          477,513            -             -      479,013
Issuance of stock for subscription agreement -
  December 31, 1998                                     40,000          40           13,160      (13,200)            -            -
Net Loss                                                     -           -                -            -       (22,968)     (22,968)
                                                      ---------    ---------      ----------    ---------       --------    --------
Balance - December 31, 1998                          1,830,250       1,830          503,183      (13,200)      (30,938)     460,875
Cash payment for subscription agreement
   - January and February  1999                              -           -                -       13,200             -       13,200
Net Loss                                                     -           -                -            -      (538,147)    (538,147)
                                                      ---------    ---------      ----------    ---------       --------    --------
Balance - December 31, 1999                          1,830,250       1,830          503,183            -      (569,085)     (64,072)

Issuance of Stock for debt forgiveness - 5/16/2000   2,100,000       2,100           39,900            -             -       42,000
Net Loss - June 30, 2000                                     -           -                -            -       (41,798)     (41,798)
                                                      ---------    ---------      ----------    ---------       --------    --------
Balance - June 30, 2000                              3,930,250      $3,930        $ 543,083          $ -    $ (610,883)   $ (63,870)
                                                   ============   =========  ===============  ===========  ============  ===========

</TABLE>


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


<PAGE>

                        BIO-AMERICAN CAPITAL CORPORATION

                          (A Development Stage Company)

                          Notes to Financial Statements

                                  June 30, 2000

                                   (Unaudited)


NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
---------------------------------------------------------------------

ORGANIZATION:
------------

Bio-American  Capital Corporation (a Development Stage Company) was incorporated
in May 1992 in the state of Nevada to raise capital for a business  venture.  In
November 1998 the Company raised $508,200 to become a technology venture finance
company  that  would  organize,   capitalize,  acquire  and  finance  technology
companies.  The Company  provided  $450,060 in  financing  to a private  holding
company.  The notes  payable  matured in December 1999 and no payments have been
received.  In May 2000, with limited  operating capital the Company has become a
"public shell" and is actively  pursuing merging with an operating  company that
has a strong  business plan and wants to establish a public  trading  market for
its securities.

The accompanying unaudited financial statements have been prepared in accordance
with the  instructions  to Form 10-QSB and do not include all of the information
and notes  required by generally  accepted  accounting  principles  for complete
financial  statements.  In the opinion of management,  all material adjustments,
consisting of only normal recurring adjustments  considered necessary for a fair
presentation, have been included. These statements should be read in conjunction
with the financial statements and notes included in the Company's Form 10-SB.

The results of operations  for the three and six months ended June 30, 2000, are
not  necessarily  indicative  of the results for the reminder of the fiscal year
ending December 31, 2000.

NET LOSS PER SHARE:
------------------

Basic  and  diluted  net loss per  share  information  is  presented  under  the
requirements  of SFAS No. 128,  Earnings per Share.  Basic net loss per share is
computed by dividing net loss by the weighted average number of shares of common
stock outstanding for the period; less shares subject to repurchase. Diluted net
loss per share  reflects the  potential  dilution of  securities by adding other
common stock equivalents, including stock options, shares subject to repurchase,
warrants and  convertible  preferred  stock, in the  weighted-average  number of
common shares  outstanding for a period, if dilutive.  All potentially  dilutive
securities  have  been  excluded  from  the  computation,  as  their  effect  is
anti-dilutive.

NOTE 2 - DEBT FORGIVENESS:
-------------------------

As of May 16,  2000,  the Company owed the  President of the Company  $16,500 in
notes payable;  $1,582 in accrued  interest;  $50,000 in accrued  salaries;  and
$7,500 in office expenses to a related party. To reduce the Company's delinquent
indebtedness and retain the services of the Company's President, in May 2000 the
Board of Directors  approved the issuance of 2,100,000 shares of common stock to
the President in exchange for the forgiveness of $42,000 of indebtedness.  Prior
to May 15, 2000 the stock last traded for $0.02 per shares on April 4, 2000.

NOTE 3 - GOING CONCERN:
----------------------

The  accompanying  financial  statements  have been prepared in conformity  with
generally accepted accounting principles, which contemplates continuation of the
Company as a going concern.  The Company operations are in the development stage
and the Company has experienced  significant losses from limited operations.  As
shown in the financial  statements,  since inception the Company  incurred a net
loss of $583,879.

The future  success of the Company is likely  dependent on its ability to attain
additional capital to develop its proposed  objectives and ultimately,  upon its
ability to attain future profitable  operations.  There can be no assurance that
the Company will be  successful  in obtaining  such  financing,  or that it will
attain positive cash flow from operations which raises  substantial  doubt about
the Company's ability to continue as a going concern.


<PAGE>

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

Results of Operations
---------------------

         The Company had no revenue or operations  for the period.  There can be
no  assurance  that  the  Company  will be able to  complete  a  merger  with an
operating  company.  Due to the lack of a specified  business  opportunity,  the
Company is unable to predict the period for which it can conduct operations.

Comparison  of  Operating  Results for the Three  Months Ended June 30, 2000 and
June 30, 1999
--------------------------------------------------------------------------------

         The Company had no revenues  for the three  months  ended June 30, 2000
and June 30, 1999. In 2000 the Company incurred $23,774 in expenses  compared to
$17,495 in 1999.  In 2000,  $15,000  was  incurred  as a  management  fee to the
President of the Company,  $5,320 was incurred for financial coverage and $2,250
was incurred for the office and related expenses.  In 1999, $15,000 was incurred
as a management  fee to the  President  of the Company,  and $2,250 was incurred
for the  office  and  related  expenses.  Expenses  in 1999 were  reduced by the
$13,502 of accrued  interest on the Notes  Receivable  from Universal  Alliance,
Inc.

         The net  operating  loss in the second  quarter in 2000 was  $24,023 as
compared to $4,093 in 1999. The net loss per share for the quarter each year was
$0.01 in 2000 and less than $0.01 in 1999.

Comparison of Operating  Results for the Six Months Ended June 30, 2000 and June
30, 1999
--------------------------------------------------------------------------------

         The Company had no revenues  for the six months  period  ended June 30,
2000  and June 30,  1999.  In 2000 the  Company  incurred  $41,054  in  expenses
compared to $41,776 in 1999. In 2000,  $30,000 was incurred as a management  fee
to the President of the Company,  $5,320 was incurred for financial coverage and
$4,500 was incurred for the office and related  expenses.  In 1999,  $30,000 was
incurred  as a  management  fee to the  President  of the  Company,  $5,320  was
incurred  for  financial  coverage  and $4,500 was  incurred  for the office and
related  expenses.  Expenses  in 1999 were  reduced  by the  $27,004  of accrued
interest on the Notes Receivable from Universal Alliance, Inc.

<PAGE>

         The net  operating  loss for the six  months  ended  June 30,  2000 was
$41,798 as compared to $14,872 for the six months ended June 30,  1999.  The net
loss per share for the six months  ended June 30, 2000 was $0.02 cents  compared
to the net loss per share for the six months ended June 30, 1999 of $0.01.

         For the current fiscal year, the Company  anticipates  incurring a loss
as  a  result  of  legal  and  accounting  expenses,  expenses  associated  with
registration under the Securities  Exchange Act of 1934, and expenses associated
with locating and evaluating  acquisition  candidates.  The Company  anticipates
that until a business combination is completed with an acquisition candidate, it
will  not  generate  revenues,  and may  continue  to  operate  at a loss  after
completing  a  business  combination,  depending  upon  the  performance  of the
acquired business.


LIQUIDITY AND CAPITAL RESOURCES
-------------------------------

         At June 30,  2000,  the Company had minimal  cash or other  assets with
which to conduct  operations.  The lack of  liquidity  or liquid  assets  raises
substantial  doubt about the  Company's  ability to continue as a going  concern
unless it is able to generate  sufficient cash flows to meet its obligations and
sustain  operations.  To meet required current operating expenses the Company is
totally  dependent  upon its  principal  shareholder  to advance funds until the
Company has acquired  another entity that has  sufficient  resources to fund the
Company's  operations.  The  Company's  primary  ongoing  monthly cost include a
$5,000  management  fee,  $750 for an  office  and  related  expenses,  and cost
associated  with regulatory  filings.  The payments for these expenses have been
deferred until sufficient cash is available.  To reduce the Company's delinquent
indebtedness and retain the services of the Company's President, in May 2000 the
Board of Directors  approved the issuance of 2,100,000 shares of common stock to
the President in exchange for the forgiveness of $42,000 of indebtedness.

Once the Company has identified an  appropriate  business  combination,  lack of
existing capital may be a sufficient impediment to prevent its consummation. And
if a business  combination  is  completed,  the Company's  needs for  additional
financing is likely to increase substantially.

<PAGE>

Year 2000 Issues
----------------

         Year 2000 problems result primarily from the inability of some computer
software to properly store,  recall,  or use data after December 31, 1999. These
problems may affect many  computers  and other  devices  that  contain  embedded
computer chips. The Company's  operations,  however,  do not rely on information
technology  (IT) systems.  Accordingly,  the Company does not believe it will be
material affected by Year 2000 problems.

The Company  relies on non-IT  systems that may suffer from Year 2000  problems,
including  telephone systems and facsimile and other office machines.  Moreover,
the Company relies on third-parties that may suffer from Year 2000 problems that
could affect the Company's operations, including banks, oil field operators, and
utilities.  In light of the  Company's  substantially  reduced  operations,  the
Company  does not believe  that such  non-IT  systems or  third-party  Year 2000
problems  will  affect  the  Company  in a  manner  that  is  different  or more
substantial  than such problems  affect other  similarly  situated  companies or
industry  generally.  Consequently,  the Company  does not  currently  intend to
conduct a readiness  assessment  of Year 2000  problems or to develop a detailed
contingency plan with respect to Year 2000 problems that may affect the Company.


<PAGE>



                           PART II - OTHER INFORMATION

ITEM 1.           LEGAL PROCEEDINGS
-------           -----------------

         The Company is not a party to any  pending  legal  proceedings,  and no
such proceedings are known to be contemplated.

ITEM 2.           CHANGES IN SECURITIES
-------           ---------------------

         (a) There have been no material modifications in any of the instruments
defining  the  rights  of  the  holders  of  any  of  the  Company's  registered
securities.

         (b)  None  of the  rights  evidenced  by  any  class  of the  Company's
registered  securities have been materially limited or qualified by the issuance
or modification of any other class of the Company's securities.

         To reduce the Company's delinquent indebtedness and retain the services
of the  Company's  President,  in May 2000 the Board of  Directors  approved the
issuance of 2,100,000  shares of common  stock to the  President in exchange for
the forgiveness of $42,000 of indebtedness. Prior to May 15, 2000 the stock last
traded for $0.02 per shares on April 4, 2000.

ITEM 3.           DEFAULT UPON SENIOR SECURITIES
-------           ------------------------------

         (Not applicable)

ITEM 4.           SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
-------           ---------------------------------------------------

         (Not applicable)

ITEM 5.           OTHER INFORMATION
-------           -----------------

         (Not applicable)

ITEM 6.           EXHIBITS AND REPORTS ON FORM 8-K
-------           --------------------------------

        (a)      Exhibits

             No exhibits as set forth in Regulation SB, are considered necessary
        for this filing.

        (b)      Reports on Form 8-K

             No reports on Form 8-K were filed during the quarter for which this
        report is filed.

<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.

Date: August 25, 2000

                                              BIO-AMERICAN CAPITAL CORP.


                                              /s/ LEONARD VIEJO
                                              -----------------------------
                                              Leonard Viejo, President