FORM 10-QSB - QUARTERLY OR TRANSITIONAL REPORT UNDER
                            SECTION 13 OR 15 (d) OF
                      THE SECURITIES EXCHANGE ACT OF 1934
                        Quarterly or Transitional Report
                    U.S. Securities and Exchange Commission
                             Washington, D.C. 20549

(Mark One)
[XX]    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
                EXCHANGE ACT OF 1934

        For quarterly period ended            January 31, 2001

[  ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
        EXCHANGE ACT OF 1934

        For the transition period from              to

                         Commission File Number: 0-25024

                           TITAN TECHNOLOGIES, INC.
                    (Exact name of small business issuer as
                           specified in its charter)

          NEW MEXICO                                    85-03388759
(State or other jurisdiction of                (IRS Employer Identification No.)
 incorporation or organization)

                 3206 Candelaria Road NE, Albuquerque, NM 87107
                    (Address of principal executive offices)

                                 (505) 884-0272
                          (Issuer's telephone number)

                                      N/A
  (Former name, former address, and former three-months, if changed since last
  report)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15 (d) of the  Securities  Exchange  Act during the past 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.

Yes [X] No [ ]

The number of shares of the registrant's common stock outstanding as of February
16, 2001 was:   No Par Value Common     34,264,893

Transitional Small Business Format:     Yes  [ ]  No  [X]



                         PART I. FINANCIAL INFORMATION



                            Titan Technologies, Inc.
                                  BALANCE SHEET
                                January 31, 2001
                                    UNAUDITED
ASSETS

 Current Assets
   Cash .........................................................   $    42,776

 Property and Equipment, at cost
   Furniture and fixtures .......................................         5,407
   Machinery ....................................................         7,706
                                                                    -----------
                                                                         13,113
  Less accumulated depreciation .................................        10,155
                                                                    -----------
     Net property and equipment .................................         2,958

 Other Assets
   Accounts receivable - stockholder ............................           609
                                                                    -----------

                                                                    $    46,343
                                                                    ===========
LIABILITIES AND STOCKHOLDERS' EQUITY

 Current Liabilities
   Accounts payable .............................................   $    11,958
   Other accrued liabilities ....................................         3,628
                                                                    -----------
   Total Current Liabilities ....................................        15,586

 Stockholders' Equity
   Common stock - no par value; authorized, 50,000,000 shares;
   issued and outstanding, 34,119,893 shares ....................     2,390,432
   Accumulated deficit ..........................................    (2,359,675)
                                                                    -----------
                                                                         30,757
                                                                    -----------

                                                                    $    46,343
                                                                    ===========

        The acccompanying notes are an integral part of these statements.


                            Titan Technologies, Inc.
                            STATEMENTS OF OPERATIONS
                     For The Three Months Ended January 31
                                   UNAUDITED

                                                       2001            2000
                                                   ------------    ------------
REVENUES
  Other income .................................   $      8,220    $      8,810
                                                   ------------    ------------

COSTS AND EXPENSES

  General and administrative ...................         74,480          70,443
  Outside services .............................         15,280          18,000
  Depreciation .................................            278             438
                                                   ------------    ------------
                                                         90,038          88,881

  Loss before income taxes .....................        (81,818)        (80,071)

  Provision for income taxes ...................           --              --
                                                   ------------    ------------
  Net Loss .....................................   $    (81,818)   $    (80,071)
                                                   ============    ============
  Weighted average common shares
    outstanding, basic and diluted (Note 3) ....     34,084,597      30,194,563
                                                   ============    ============

  Basic and diluted (loss) per common share ....   $      (0.00)   $      (0.00)
                                                   ============    ============

        The acccompanying notes are an integral part of these statements.



                            Titan Technologies, Inc.
                            STATEMENTS OF OPERATIONS
                      For The Six Months Ended January 31
                                   UNAUDITED

                                                       2001            2000
                                                   ------------    ------------
REVENUES
  Other income .................................   $     17,260    $     18,780
                                                   ------------    ------------
COSTS AND EXPENSES
  General and administrative ...................        132,083         126,039
  Outside services .............................         52,801          18,150
  Depreciation .................................            557             879
                                                   ------------    ------------
                                                        185,441         145,068

  Loss before income taxes .....................       (168,181)       (126,288)

  Provision for income taxes ...................           --              --
                                                   ------------    ------------
  Net Loss .....................................   $   (168,181)   $   (126,288)
                                                   ============    ============
  Weighted average common shares
    outstanding, basic and diluted (Note 2) ....     33,940,856      29,373,628
                                                   ============    ============

  Basic and diluted (loss) per common share ....   $      (0.00)   $      (0.00)
                                                   ============    ============

        The acccompanying notes are an integral part of these statements.


                            Titan Technologies, Inc.
                            STATEMENTS OF CASH FLOWS
                      For the Six Months Ended January 31
                                   UNAUDITED

                                                         2001           2000
                                                       ---------      ---------
Cash flows from operating activities
  Cash received from subcontractor ...............     $  17,260      $  18,780
  Cash paid for suppliers and employees ..........      (174,164)      (149,518)
                                                       ---------      ---------

  Net cash used in operating activities ..........      (156,904)      (130,738)

Cash flows from financing activities
  Proceeds from sale of common stock .............        42,500        210,100
                                                       ---------      ---------

  Net (decrease) increase in cash ................      (114,404)        79,362

  Cash at beginning of year ......................       157,180          6,881
                                                       ---------      ---------

  Cash at end of period ..........................     $  42,776      $  86,243
                                                       =========      =========
Reconciliation of Net Loss to Net Cash Used
   in Operating Activities

Net Loss .........................................     $(168,181)     $(126,288)
Adjustments to reconcile net loss to net
 cash used in Operating Activities:
  Depreciation ...................................           557            879
  Changes in assets and liabilities
  Decrease in prepaid expenses ...................         1,025          5,555
  (Decrease) increase in accounts payable ........         9,123         (9,619)
  Increase (decrease) in accrued liabilities .....           572         (1,265)
                                                       ---------      ---------

Net cash used in operating activities ............     $(156,904)     $(130,738)
                                                       =========      =========

       The acccompanying notes are an integral part of these statements.



                            Titan Technologies, Inc.
                         NOTES TO FINANCIAL STATEMENTS
                           January 31, 2001 and 2000

1) BASIS OF PRESENTATION


The balance sheet at January 31, 2001 and the  statements of operations  for the
three months and six months ended  January 31, 2001 and 2000 and  statements  of
cash flows for the six months ended January 31, 2001 and 2000 have been prepared
without audit. In the opinion of management,  all adjustments  including  normal
recurring  adjustments  necessary  to  present  fairly the  financial  position,
results of operations and cash flows,  have been made.  Certain  information and
footnote  disclosures  normally  included in  financial  statements  prepared in
accordance with generally accepted accounting  principles have been condensed or
omitted. It is suggested that these financial  statements be read in conjunction
with the Company's audited financial statements at July 31, 2000. The results of
operations  for the six  months  ended  January  31,  2001  are not  necessarily
indicative of operating results for the full year.


2)  ISSUANCE OF COMMON STOCK


During the six months ended January 31, 2000 the Company sold  2,163,000  shares
of common stock for which it received $210,100.


During the six  months ended January 31, 2001 the Company sold 383,332 shares of
common stock for which it received $42,500."


3)  NET LOSS PER COMMON SHARE


Net loss per common share is  calculated  using the weighted  average  number of
shares outstanding  during the period.  Basic and diluted earnings per share are
the same because the inclusion of options to purchase additional shares of stock
are antidilutive.


4)  LICENSE DISPUTE


During the three months ended January 31, 2001,  the  Registrant  learned that a
California  company,  Envirotire  was  identifying  itself as the North American
representative for the Registrant's tire recycling  technology based on a letter
of  understanding  between  the  parties  dated March 17,  1999.  If valid,  the
agreement would convey most of the Registrant's  North American marketing rights
to Envirotire.  It is the Registrant's belief that a license agreement was never
completed and approved by the parties.  The Registrant  believes that Envirotire
has no licensing rights under the letter of understanding and is considering its
remedies.


5)  MANAGEMENT'S PLANS FOR OPERATIONS


The company has experienced  significant  losses from operations in recent years
and the Company has used rather than provided cash in its operations.


The  Company's  ability to continue as a going  concern is  contingent  upon its
ability to maintain adequate  financing or obtain capital from other sources and
to attain  profitable  operations.  The financial  statements do not include any
adjustments  relating to the recoverability and classification of recorded asset
amounts  that might be  necessary  should the  Company be unable to  continue in
existence.


Management has taken the following  steps to address the financial and operating
condition of the Company  which it believes  will be  sufficient  to provide the
Company with the ability to continue in existence.


     Improve marketing efforts for recycling plants and bring plastics recycling
     technology to a marketable product.


     Reduce  operating and  administrative  expenses,  and issue stock and notes
     payable where possible for payment of expenses.


     Defer payment of officer salaries if required.


Management  believes that these steps will allow the Registrant to continue as a
going concern in the immediate future, together with results of on going efforts
to raise working  capital  through  licensing of  agreements,  joint ventures or
sales of additional equity securities in private placements.  However, there are
significant risks associated with the Registrants business development and there
can be no assurance  that its efforts will be successful or that it will be able
to raise sufficient working capital to survive as a going concern.



ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

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

During the six months  ended  January 31,  2001,  the  Company had no  licensing
revenue. No plants are scheduled for construction at January 31, 2001.


With respect to existing  plants  constructed in Korea (not currently  operating
because of financial  failure of parent  companies  unrelated  to the  Company's
technology)  and Taiwan using the  Company's  technology,  no licensing  fees or
royalties  have been  received by the Company.  The Company is  optimistic  that
royalties will be received in the future from the  operator/sub-licensee  of the
Taiwan  plant,  but there can be no  assurance  that this will occur or what the
amounts will be.


In recent months,  the Company has been concentrating its efforts to license its
technology in the United States because it believes that the tire recycling have
been proven at commercial scale through  operation of the Taiwan plant.  Current
discussions  with  prospective  U.S.  licensees  involve  payment of an up-front
licensing fee and on-going production royalties on a negotiated basis, depending
on the scope of the licensing agreement,  although joint venture arrangements in
which the Company would be involved in operation and ownership of plants is also
under  consideration.  Although the Company is optimistic that recent results in
producing  readily  marketable  activated  carbon from tire derived carbon black
enhance  the  probability  that one or more U.S.  plants will be built using the
Company's  technology,  there  can be no  assurance  that  the  Company  will be
successful  in its U.S.  licensing or joint venture  efforts or, if  successful,
what the amount of the up-front payment or production royalties will be.


As a result of  activities  by management  general and  administrative  expenses
increased $6,044 to $132,083 and outside services  increased  $34,651 to $52,801
for the six months  ended  January  31, 2001  compared  to the six months  ended
January 31, 2000.


Financial Condition


The  Company's  liquidity  decreased in the six months ended January 31, 2001 as
cash  decreased  by  $114,404  since July 31,  2000.  Operations  used  $156,904
compared to the same period of the prior year in which operations used $130,738.


PART II.  OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

At the date of this  report  there are no known  legal  proceedings  pending  or
judgments  against  the  Registrant  or against  any  director or officer of the
Registrant in their capacity as such.

ITEM 2.  CHANGES IN SECURITIES

NONE

ITEM 3.  DEFAULTS IN SENIOR SECURITIES

NONE

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

NONE

ITEM 5.  OTHER INFORMATION

NONE

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a) There are no exhibits required by Item 601 of Regulation S-K

     (b) The  Company  filed a Form 8-K dated  January  22,  2001  describing  a
dispute  which has arisen  regarding  whether or not a  California  company  has
licensing  rights  to  the  Company's  technologies  pursuant  to  a  letter  of
understanding dated March 17, 1999.


                                   SIGNATURES


     In accordance with the requirements of the Exchange Act, the Registrant has
caused  this  report to be  signed on its behalf by the  undersigned,  thereunto
duly authorized.


     TITAN TECHNOLOGIES, INC.

February 16, 2001       Ronald L. Wilder
                        -----------------------------------------------------
                        Ronald L. Wilder, President, Chief Executive Officer,
                        Chief Financial Officer and Chief Accounting Officer.