SECURITIES AND EXCHANGE COMMISSION

                                             WASHINGTON, D.C. 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 June 30, 1999

[ ]      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 0-23957
         CIK 0001058549

                   MEDITECNIC, INC.
                        (Exact Name of Registrant as specified in its Charter)


            Delaware                                         87-0430532
(State or other Jurisdiction of                       I.R.S. Employer Identi-
Incorporation or Organization                                     fication No.)

 14 Quai du Seujet, Geneva, Switzerland CH-1201
(Address of Principal Executive Offices)                             (Zip Code)

                         (949) 489-2400
                         (Registrant's Telephone Number, including Area Code)



         Indicate by check mark whether the Registrant (i) 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 (of for such shorter period that
the Registrant was required to file such reports) and (ii)
has been subject to such filing requirements for 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.

Common Stock, $.001 par value                          7,527,485
Title of Class                                     Number of Shares outstanding
                                                           at June 30, 1999
No exhibits included.

                                                        1
<PAGE>

                                                            MEDITECNIC, INC.
                                           (A Company in the Development Stage)

                                                             BALANCE SHEETS



                                                                 ASSETS
<TABLE>
<CAPTION>

                                                                                        December 31,        June 30,
                                                                                            1998              1999


Current Assets
<S>                                                                                           <C>               <C>
  Cash                                                                                        860,288           555,113
  Interest Receivable                                                                           3,056               174
  Marketable Securities                                                                     1,585,467         1,604,330


    Total Current Assets                                                                    2,448,801         2,159,617

  Other Assets - Patent                                                                       637,260           637,260
    Note Receivable - non-current                                                                               135,266

              TOTAL ASSETS                                                             $    3,086,071   $     2,932,143




                                                  LIABILITIES AND STOCKHOLDERS' EQUITY


STOCKHOLDERS' EQUITY
Preferred Stock, $.001 par value; 1,000,000 shares
  authorized; 1,000 shares issued and outstanding                                                   1                 1

Common Stock, $.001 par value; 20,000,000 shares
  authorized; 7,527,588 shares issued and outstanding                                           7,528             7,528

Additional paid-in Capital                                                                  3,075,055         3,075,055

Accumulated deficit during the development stage                                              (7,623)         (162,439)
Accumulated other comprehensive income                                                         11,110            11,998




              TOTAL STOCKHOLDERS' EQUITY                                                    3,086,071         2,932,143





TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY                                             $    3,086,071   $     2,932,143



</TABLE>






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

                                                                   2
<PAGE>

                                                            MEDITECNIC, INC.
                                           (A Company in the Development Stage)

                                                        STATEMENTS OF OPERATIONS


<TABLE>

                                                                                                                       CUMULATIVE

<CAPTION>
                                                FOR THE SIX MONTHS                      FOR THE THREE                     FROM
                                                       ENDED                            MONTHS ENDED                 March 24, 1998
                                                     June 30,                             June 30,                         TO
                                              1999             1998               1999                 1998           June 30, 1999





<S>                                     <C>         <C>   <C>         <C>   <C>           <C>     <C>        <C>      <C>        <C>
REVENUES                                $          -0-    $          -0-    $            -0-      $         -0-       $          -0-



OPERATING EXPENSES

  General and Administrative                     5,279            13,301               1,994             13,301               54,417
  Research and Development                     176,231             2,222                  --              2,222              203,293


TOTAL OPERATING EXPENSES                       181,510            15,523               1,994             15,523              257,710

Net Operating Income (Loss)                  (181,510)          (15,523)             (1,994)           (15,523)            (257,710)

Other Income (Loss)
  Interest Income                               12,595                                 6,871                                  15,651
  Interest Expense                             (4,763)             (194)               (180)              (194)              (6,595)
  Marketable Securities Gain (Loss)             18,863                              (10,670)                                  86,215


  Total Other Income (Loss)                     26,695             (194)              17,361              (194)               95,271


NET INCOME (LOSS)                       $    (154,815)          (15,717)              15,366      $    (15,717)       $    (162,439)

NET INCOME (LOSS) PER SHARE             $        (.02)    $        (Nil)    $          (Nil)      $       (Nil)




WEIGHTED AVERAGE NUMBER
 OF SHARES OUTSTANDING                       7,527,485         7,527,485           7,527,485          7,527,485




</TABLE>












                                See accompanying Notes to Financial Statements.

                                                                   3
<PAGE>

                                                            MEDITECNIC, INC.
                                           (A Company in the Development Stage)

                                                        STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                                                                       CUMULATIVE
                                                FOR THE SIX MONTHS                      FOR THE THREE                     FROM
                                                       ENDED                            MONTHS ENDED                 March 24, 1998
                                                     June 30,                             June 30,                         TO
                                              1999             1998               1999                 1998           June 30, 1999



CASH FLOWS FROM OPERATING
ACTIVITIES

<S>                                     <C>               <C>               <C>                   <C>                 <C>
  Net Income (Loss)                     $    (154,815)    $     (15,717)    $         15,365      $    (15,717)       $    (162,439)

  Increase - Interest Receivable                 2,882                                    --                                   (174)
  Increase in Other Comprehensive                  888                                    --                                  11,998
  Initial Deficit                                                                                                               (28)

  Increase (decrease) in accounts
   payable - patent                                              587,048                               (50,212)



  Net cash flows from operating
   activities                                (151,045)           571,331              15,365           (65,929)            (150,586)

CASH FLOWS FROM INVESTING ACTIVITIES
  Cash used for patent acquisition                             (637,260)                                                   (637,260)
  Increase in Marketable Securities           (18,863)                              (10,670)                             (1,604,330)
  Increase in Note Receivable                (135,266)                             (135,266)                               (135,266)


  Net Cash used in Investing Activities (154,129)         (637,260)         (145,936)                                 (2,376,856)

CASH FLOWS FROM FINANCING
  ACTIVITIES
   Sale of Common Stock                                          101,734                                                   3,082,556


  Net Cash flows from financing
   activities                                                    101,734                                                   3,082,556

NET INCREASE (DECREASE) IN CASH         (305,175)         35,805            (130,571)             (65,929)            555,113

CASH BALANCE AT BEGINNING
  OF PERIOD                                    860,288                               685,684            101,735



CASH BALANCE AT END OF
  PERIOD                                $      555,113    $       35,805    $        555,113      $      35,805       $      555,113



Cash Paid for Interest                           4,763               194                 180                194                6,595
</TABLE>





                                See accompanying Notes to Financial Statements.

                                                                   4
<PAGE>

                                                 MEDITECNIC, INC.
                                       (A Company in the Development Stage)

                                      NOTES TO CONDENSED FINANCIAL STATEMENTS
                                                    (UNAUDITED)
                                                   June 30, 1999


1.       Comments

         The accompanying financial statements are unaudited, but in the opinion
 of the management of the Company, contain all adjustments, consisting of only
normal recurring accruals, necessary to present fairly the financial position at
June 30, 1999, the results of operations for the three and six months ended June
         30, 1999 and 1998, and the cash flows for the three and six months
ended June 30, 1999 and 1998.

         The results of operations for the three and six months ended June 30,
1999 are not necessarily indicative of the results of operations to be expected
 for the full fiscal year ending December 31, 1999.


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

         The Company has limited working capital and no activities.


                                            PART II.  OTHER INFORMATION

Item 1.  LEGAL PROCEEDINGS  -  None

Item 2.  CHANGES IN SECURITIES - None

Item 3.  DEFAULTS UPON SENIOR SECURITIES - None

Item 4.  SUBMISSION OF MATTER TO A VOTE OF SECURITY HOLDERS - None

Item 5.  OTHER INFORMATION - None

Item 6.  EXHIBITS AND REPORTS ON FORM 8-K

         Exhibits--None

         Reports on Form 8-K--None.


                                                         5
<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.


                                                              MEDITECNIC, INC.



Date:     October 2, 2000     By:             /s/ Finn RObert-Tissot
                                               Finn Robert-Tissot,
                                                 Chief Financial
                                              Officer (chief financial officer
                                               and accounting officer and duly
                                                          authorized officer)



                                                         6
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