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 April 30, 1998

[  ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES 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                           85-0388759
     (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 May 29,
1998 was:

         No Par Value Common              22,065,411


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


                         PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

                   Titan Technologies, Inc. and Subsidiaries
                           CONSOLIDATED BALANCE SHEET
                                 April 30, 1998
                                   UNAUDITED

ASSETS

   Current Assets
      Cash ..................................................       $    17,154
      Accounts receivable - stockholder .....................               609
                                                                    -----------
             Total Current Assets ...........................            17,763

      Property and Equipment, at cost
         Furniture and fixtures .............................             5,407
         Machinery ..........................................             7,706
                                                                    -----------
                                                                         13,113

         Less accumulated depreciation ......................            (4,552)
                                                                    -----------
             Net property and equipment .....................             8,561

                                                                    $    26,324
                                                                    ===========

LIABILITIES AND STOCKHOLDERS' EQUITY

   Current Liabilities
      Accounts payable ......................................       $     7,562
      Note payable stockholder ..............................           124,750
      Other accrued liabilities .............................            56,324
                                                                    -----------
             Total Current Liabilities ......................           188,636


   Stockholders' Equity
      Common stock - no par  value; authorized,
      50,000,000 shares; issued and outstanding,
      22,065,411 shares .....................................         1,317,944
      Accumulated deficit ...................................        (1,480,256)
                                                                    -----------
                                                                       (162,312)
                                                                    -----------

                                                                    $    26,324
                                                                    ===========

   The Accompanying Notes Are An Integral Part of These Financial Statements


                   Titan Technologies, Inc. and Subsidiaries
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                         For the Three Months April 30
                                    UNAUDITED

                                                      1998            1997
                                                  ------------    ------------
REVENUES

   Other income ............................      $      4,541    $      1,492
   Gain (loss) on sale of assets ...........              (174)           --
                                                  ------------    ------------
                                                         4,367           1,492

COSTS AND EXPENSES

   General and administrative ..............            64,562          90,173
   Outside services ........................              --            11,807
   Depreciation and amortization ...........            (1,130)            345
   Interest ................................             3,360           3,360
                                                  ------------    ------------
                                                        66,792         105,685
                                                  ------------    ------------

   Income (loss) before income taxes .......           (62,425)       (104,193)

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

   Net income (loss) .......................      $    (62,425)   $   (104,193)
                                                  ============    ============
   Weighted average common shares
     outstanding, basic and diluted (Note 2)        22,002,593      18,725,788
                                                  ============    ============

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

   The Accompanying Notes Are An Integral Part of These Financial Statements


                   Titan Technologies, Inc. and Subsidiaries
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                       For the Nine Months Ended April 30
                                   UNAUDITED

                                                    1998              1997
                                                ------------      ------------
  REVENUES
    
   Plant licensing .........................    $     39,353      $       --
   Gain (loss) on sale of assets ...........            (174)          162,678
   Other income ............................           5,582             7,282
                                                ------------      ------------
                                                      44,761           169,960

COSTS AND EXPENSES

   General and administrative ..............         206,061           281,575
   Outside services ........................          12,733            30,978
   Depreciation and amortization ...........           1,491             2,042
   Interest ................................          10,080             8,583
                                                ------------      ------------
                                                     230,365           323,178
                                                ------------      ------------

   Income (loss) before income taxes .......        (185,604)         (153,218)

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

   Net income (loss) .......................    $   (185,604)     $   (153,218)
                                                ============      ============
   Weighted average common shares
     outstanding, basic and diluted (Note 2)      22,002,593        18,725,788
                                                ============      ============

Basic and diluted (loss) per common share ..    $     (0.01)      $      (0.00)
                                                ============      ============

   The Accompanying Notes Are An Integral Part of These Financial Statements


                   Titan Technologies, Inc. and Subsidiaries
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                       For the Nine Months Ended April 30
                                   UNAUDITED

                                                         1998           1997
                                                       ---------      ---------
 Cash flows from operating activities
   Cash received from customers ..................     $  39,353      $    --
   Interest received .............................         1,159          7,282
   Cash paid for suppliers and subcontractors ....      (183,154)      (304,178)
   Interest paid .................................       (10,080)        (8,583)
   Miscellaneous Income ..........................         4,423           --
                                                       ---------      ---------
   Net cash provided by (used in)
   operating activities ..........................      (148,299)      (305,479)

Cash flows from investing activities
   Acquisition of property and equipment .........       (32,277)        (2,322)
   Proceeds from sale of assets ..................        24,606           --
                                                       ---------      ---------
                                                          (7,671)        (2,322)
Cash flows from financing activities
   Proceeds from stockholder loan ................        12,750        112,000
   Proceeds from sale of common stock ............       157,250           --
                                                       ---------      ---------
                                                         170,000        112,000

   Net increase (decrease) in cash ...............        14,030       (195,801)
                                                       ---------      ---------

   Cash at beginning of year .....................         3,125        272,714
                                                       ---------      ---------

   Cash at end of period .........................     $  17,155      $  76,913
                                                       =========      =========
Reconciliation of Net earnings (loss) to
   Cash Provided by (used in)
     Operating Activities
   Net earnings (loss) ...........................     $(185,604)     $(153,218)
   Adjustments
   (Gain) loss on sale of assets .................           174       (162,678)
   Depreciation and amortization .................         1,491          2,042
   Changes in assets and liabilities
   (Decrease) increase
     in accounts payable .........................         5,023           (749)
   Increase in interest payable ..................        10,080          7,238
   (Decrease) increase in accrued liabilities ....        20,537          1,886
                                                       ---------      ---------
   Net cash provided by (used in)
     operating activities ........................     $(148,299)     $(305,479)
                                                       =========      =========

   The Accompanying Notes Are An Integral Part of These Financial Statements


Noncash investing and financing activities:  During the nine months ending April
     30,1997  certain rights and patents with a net book value of  approximately
     $75,000 were  transferred  to the developer in exchange for notes  payable,
     accrued   interest  and  other   liabilities  to  the  developer   totaling
     approximately $238,000.


                   Titan Technologies, Inc. and Subsidiaries
                         NOTES TO FINANCIAL STATEMENTS
                    For the Nine Months Ended April 30, 1998


1)  NOTES TO FINANCIAL STATEMENTS

The balance sheet at April 30, 1998,  and the  statements of operations and cash
flow for the nine  months  ended  April 30,  1998 and 1997  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, 1997. The results of
operations  for the  nine  months  ended  April  30,  1998  are not  necessarily
indicative of operating results for the full year.

2)  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Net income  (loss) per common share is  calculated  using the  weighted  average
number of share outstanding during each period.

3)  ISSUANCE OF COMMON STOCK

In March 1997, the Company exchanged  3,000,000 shares of its common stock for a
28.5% interest in ESA Recycling GMBH ("ESA"), an Austrian company. No investment
was recorded  because the  estimated  fair value of the net assets of ESA at the
time of the exchange were nominal.  ESA has no current  operations  but plans to
develop a tire recycling plant in Europe.

In August  1997 the company  sold  580,000  shares of common  stock for which it
received  $145,000.  In February  1998 the company sold 49,000  shares of common
stock for which it received $12,500.

4)      CERTAIN TRANSACTIONS

In order to raise working  capital,  on April 23, 1998, the Company sold a truck
to Jeff Wilder,  an employee of Tire Recycling  Technologies  Corp., for $16,830
and the  forgiveness of one month's  salary due but unpaid to Jeff Wilder.  Jeff
Wilder  granted Tire Recycling  Technologies  Corp. The right to continue to use
the truck for its  business  purposes and the right to  repurchase  the truck by
assuming the amount of the loan and repaying all payments made by Jeff Wilder on
the bank note signed by him to finance his purchase of the truck. Jeff Wilder is
the son of Ronald L. Wilder, the President of Tire Recycling Technologies Corp.

On May 22, 1998, the Company granted an option to purchase 300,000 shares of its
common  stock to Jeff  Wilder  and to Dana  Finley,  both of whom are  full-time
Company employees. Each option grants the holder the right, for a period of five
years from the date of the option, to purchase all or any part of 300,000 shares
of the  Company's  common  stock at an  exercise  price per share of $0.24,  the
market price of the Company's  stock on May 22, 1998. The options are subject to
ratification by the Company's Shareholders.

The Company granted an option to purchase 300,000 shares of the Company's common
stock to Dr. Ronald Allred, in recognition of the time and effort devoted by him
and by Adherent  Technology to advancing the  Company's  technology.  The option
grants the  holder  the  right,  for a period of five years from the date of the
option,  to purchase 300,000 shares of the Company's common stock at an exercise
price per share of $0.24.  The option may be exercised at any time, or from time
to time, for all or any part of the shares subject to the option.  The option is
subject to ratification by the Company's Shareholders.

4)  LOSS PER SHARE

Loss per common share is computed  using the weighted  average  number of common
shares outstanding during the period. The company adopted Statement of Financial
Accounting  Standards  No. 128,  "Earnings  Per Share " during the quarter ended
January 31,  1998.  Since the Company has only  common  stock  outstanding,  the
adoption of this standard had no significant  effect on the company's  financial
statements.

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

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

During  the nine  months  ended  April 30,  1998,  the  Company  had  $39,353 in
licensing revenue.  During the year ended July 31, 1996 the Company granted tire
recycling license rights for Europe,  Australia, New Zealand and South Africa to
a company.  The agreement requires the payment of licensee fees of $1,500,000 to
$2,500,000  to the Company for each plant  constructed  and royalties of 3.5% of
the gross sales price of  by-products  from the plants.  No plants are scheduled
for  construction  at April  30,  1998.  As a  result  of  these  activities  by
management general and administrative  expenses decreased $25,611 to $64,562 and
outside  services  decreased  $11,807 to $0 for the three months ended April 30,
1998 as  compared  to the  three  months  ended  April  30,  1997.  General  and
administrative  decreased  $75,514 to $206,061  and outside  services  decreased
$18,245 to $12,733 for the nine  months  ended April 30, 1998 as compared to the
six months ended April 30, 1997.

Financial Condition
-------------------

The  Company's  liquidity  increased  in the nine months ended April 30, 1998 as
cash increased by $14,030 since July 31, 1997. Operations used $148,299 compared
to the same  period of the prior year in which  operations  used  $305,479.  The
Company  did not repay a note due  September  24,  1997 and is in default of the
note. The Company is attempting to renegotiate the note.  Pending  renegotiation
of the note and based on the results of fiscal 1997 and its  prospects for 1998,
management  considers  the  Company's  liquidity  position  adequate  with funds
sufficient to meet its operating needs.

                           PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

The only legal proceedings to which the Registrant is a party to or of which any
of its property is subject to, or is pending or known to be contemplated are the
following:

1.   On February 12, 1998, the Registrants  filed an action in the United States
     District  Court for New Mexico  (Civil  Action  CV-98-182),  against  Josef
     Strauss  and  Environmental  Solutions  Agency  (a.k.a.  ESA World  Trade),
     alleging  fraud,  breach  of  contract,  conversion,  and  breach  of  oral
     agreement in connection  with  contracts and agreements for the sale and/or
     licensing  of the  Registrant's  TRTC  technology  and  certain  geographic
     marketing  rights and raising capital funds for recycling plants in Europe.
     The suit seeks  compensatory and punitive damages in excess of $50,000 plus
     attorney fees. Due to the early state of this litigation, management cannot
     estimate when a trial on the merits may occur or the  likelihood of success
     or the amount of any verdict favorable to the Registrant. Josef Strauss has
     filed an answer  denying the  allegations in the Company's  complaint.  The
     parties are currently in settlement negotiations.

2.   On May 15, 1998, in the United States  District Court for New Mexico (Civil
     Action   CV-98-0580),   Strauss   Investor   Services,   Inc.  ("SIS")  and
     Environmental  Solutions  Agency  ("ESA") and ESA World Trade,  Ltd.  ("ESA
     World"),  filed an action naming the Company, its subsidiary Tire Recycling
     Technologies  Corporation  ("TRTC")  and Ronald L.  Wilder,  the  Company's
     President, defendants and alleging that on or about February 12, 1996, SIS,
     d/b/a ESA entered into an agreement and Side Letter wherein ESA was granted
     a license  within the  territory of Europe,  Australia,  and  America.  The
     Complaint  alleges that the defendants  have marketed,  directly or through
     third parties,  the same technology  without notifying ESA of the potential
     customers or licensees.

     The  Plaintiffs  in this  action are  entities  under the  control of Josef
     Strauss,  a defendant in the legal action  described above in section 1 and
     one of the shareholders who demanded a special meeting of shareholders.

     The Complaint  alleges that the acts of the  defendants are a breach of its
     license  agreement  and the  defendants  acted  in a  malicious,  reckless,
     wanton, willful and oppressive manner. The plaintiffs seek compensatory and
     punitive damages, interest, costs and attorneys fees.

     The  Complaint  also seeks to collect a  promissory  note of  $112,000  and
     interest accrued at the rate of 12% from September 24, 1996, which note and
     interest were guaranteed by Mr. Wilder.

     This action was only recently  filed and appears to address the same issues
     that are the subject matter of the litigation  discussed above in section 1
     of this discussion of litigation. The Company and the other defendants will
     seek to consolidate  the two actions,  and will deny the allegations of the
     complaint.  This case is  currently  abated by agreement on the parties and
     its subject matter is also included in settlement  negotiations referred in
     paragraph 1.

3.   On May 13, 1998, in the United States  District Court for New Mexico (Civil
     Action CV-98-0557), Diana D. Holt filed an action against Ronald L. Wilder,
     Ronald L. Allred in which is alleged  that the  Company's  Proxy  materials
     contain material misstatements and/or omissions of facts, and, in addition,
     seeing to  recover  (a)  $45,000  paid to finish  development  of  portable
     prototype unit and to ship the unit to Pittsburgh, Pennsylvania, (i.e., for
     demonstration)  and (b) the recovery of $100,000 for finishing and shipping
     the  portable  unit to  Pittsburgh,  Pennsylvania,  and further  alleging a
     conversion  by the  defendants  of the money and a breach of good faith and
     fair dealing in the execution and performance of the agreements between the
     Plaintiff and the Company.

     Diana D. Holt is one of the persons who  demanded  that the Company  hold a
     special meeting of shareholders.

     Although this  complaint was recently  filed,  the Company has attempted to
     work with Ms.  Holt's  lawyers  to  correct  any  deficiency  either  party
     believes exists in Management's Proxy material or in the Opposition Group's
     proxy material.

     The defendants have denied all of the  allegations  relating to a breach of
     contract  or  conversion  and will  affirmatively  state  that the  Company
     completed  the  prototype  as  required  by the  Agreement,  but were never
     furnished certain  information by the plaintiff that was necessary prior to
     transportation  of the equipment.  The defendants  will also prove that the
     $100,000  was  deposited  into an account  over which only Ms. Hold and Mr.
     Bruce Clark had the power to issue checks and that Mr. Clark issued a check
     from that account to the Company to purchase shares of the Company's common
     stock for Ms. Hold.  Shares that were  referenced in Ms. Holt's demand that
     the Company hold a special meeting of shareholders,  although  according to
     Ms. Holt's  attorneys,  repayment of the $145,000 to her will terminate her
     stock ownership of 580,000 shares.

     The  Company  has not yet  determined  whether  Mr.  Clark,  because of his
     relationship to Ms. Holt, is an  indispensable  party to the litigation and
     should  be added as a  defendant.  The  present  feeling  of the  Company's
     lawyers is that Mr. Clark should be named as a third party defendant.

The  Company  knows of no other  legal  proceedings  pending  or  threatened  or
judgement 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)  Reports on Form 8-K.  State  whether any reports on Form 8-K have been
filed  during the  quarter  for which this  report is filed,  listing  the items
reported, any financial statements filed, and the dates of any such reports.

NONE

                                   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. AND SUBSIDIARIES



July 6, 1998 Ronald L. Wilder
             ----------------------------------------------------- 
             Ronald L. Wilder, President, Chief Executive Officer, 
             Chief Financial Officer and Chief Accounting Officer.