United States
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                         Amendment No. 1 to FORM 10-QSB
                                 (Form 10-QSB/A)
             Quarterly Report Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

       For the Quarterly Period Ended                  Commission File Number:
              August 31, 1999                                  0-24075


                             NBG RADIO NETWORK, INC.
        (Exact name of small business issuer as specified in its charter)


                 Nevada                             88-0362102
   (State or other jurisdiction of     (I.R.S. Employer Identification No.)
    incorporation or organization)


       520 SW Sixth Avenue, Suite 750
              Portland, Oregon                                  97204
  (Address of principal executive offices)                    (Zip Code)


                                 (503) 802-4624
                (Issuer's telephone number, including area code)



     Check  whether  the issuer (1) filed all  reports  required  to be filed by
Section 13 or 15(d) of the  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  registrant  has one  class of  Common  Stock  with  12,148,293  shares
outstanding as of October 4, 1999.


     Transitional Small Business Issuer Disclosure Format (check one):
                    Yes      [ ]      No      [X].



<PAGE>



Pursuant to Rule 12b-15,  promulgated under the Securities Exchange Act of 1934,
the registrant  amends the following Item of its Quarterly Report on Form 10-QSB
for the quarter ended August 31, 1999,  so that, as amended,  such Item reads as
set forth herein:



<PAGE>



Item 6. Exhibits and Reports on Form 8-K

(a)      The following exhibits are filed as part of this report:

         Exhibit Number             Description of Exhibit

              3.2            Amended and Restated Bylaws of NBG Radio Network,
                             Inc. (incorporated by reference to Exhibit 3.2 to
                             the registrant's Form 10-QSB for the fiscal quarter
                             ended August 31, 1999).

             10.1            1998 Stock Incentive Plan.*

             27              Financial Data Schedule (incorporated by reference
                             to Exhibit 27 to the registrant's Form 10-QSB for
                             the fiscal quarter ended August 31, 1999).

*  Management contract or compensatory plan.

(b)      No reports on Form 8-K were  required  to be filed  during the  quarter
         ended August 31, 1999.



<PAGE>


                                   SIGNATURES

         Pursuant to the  requirements  of Section 13 or 15(d) of the Securities
Exchange  Act of 1934,  the  Company has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

                                NBG RADIO NETWORK, INC.,
                                a Nevada corporation

Date:  November 5, 1999         By: /s/ John J. Brumfield
                                    --------------------------------------------
                                    John J. Brumfield, Chief Financial Officer
                                    Vice President, Finance
                                    (Principal Financial and Accounting Officer)