UNITED STATES
                       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: 000-25557

                             AGRI BIO-SCIENCES, INC.
        (Exact name of small business issuer as specified in its charter)

                  Delaware                             76-0481583
       (State or other jurisdiction of             (I.R.S. Employer
       incorporation or organization              Identification No.)

       5211 Court of York, Houston, Texas                    77069
      (Address of principal executive officer)             (Zip Code)

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 such  filing
requirements for the past 90 days. Yes X No ___

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE
PRECEDING FIVE YEARS

Check whether the  registrant  filed all  documents  and reports  required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a court Yes ___ No ___

APPLICABLE ONLY TO CORPORATE ISSUERS

         The number of shares of common stock, $0.01 par value, outstanding as
June 30, 1999: 11,050,000 shares

Transitional Small Business Disclosure Format (check one):   Yes ___   No  X


<PAGE>

                             AGRI BIO-SCIENCES, INC.
                           PERIOD ENDED JUNE 30, 1999

                                      INDEX
<TABLE>
<CAPTION>

PART I.  FINANCIAL INFORMATION                                                                                 Page

<S>                                                                                                             <C>


         Item 1.  Financial Statements

         Condensed financial statements of Agri Bio-Sciences, Inc.:

                  Balance sheet as of June 30, 1999                                                               3

                  Statements of Expenses for the three and six months ended June
                    30,  1999,  three  months and six months ended June 30, 1998
                    and
                    period from May 30, 1995 (Date of Inception) to June 30, 1999                                 4

                  Statements  of cash  flows for the six  months  ended June 30,
                    1999, the six months ended June 30, 1998 and period
                    from May 30, 1995 (Date of Inception) to June 30, 1999                                        5

                  Notes to financial statements                                                                   6

         Item 2.  Management's Discussion and Analysis of Financial Condition
                    And Results of Operations                                                                     7

PART II. OTHER INFORMATION

         Item 2.  Changes in Securities and Use of Proceeds                                                      10

         Item 6.  Exhibits and Reports on Form 8-K                                                               10

                  (a)      Exhibits

SIGNATURE                                                                                                        11
</TABLE>


<PAGE>

PART I.   FINANCIAL INFORMATION

Item 1.   Financial Statements

                             AGRI BIO-SCIENCES, INC.
                          (A Development Stage Company)
                                  Balance Sheet
                                  June 30, 1999


<TABLE>
<S>                                                                                      <C>

ASSETS
  Cash                                                                              $       866

  Fertilizer plant and equipment, net                                                   165,636


         TOTAL ASSETS                                                                  $166,472




LIABILITIES
  Accounts payable                                                                     $ 26,926
  Accrued expenses                                                                        9,311
  Due to current stockholders                                                            84,000
  Due to former stockholder                                                             100,000
                                                                                        -------

         TOTAL LIABILITIES                                                              220,237


STOCKHOLDERS' EQUITY
  Common stock, $.001 par value, 20,000,000
         shares authorized, 10,900,000 issued
         and outstanding                                                                 10,900
  Paid in capital                                                                       582,250
  Deficit accumulated during the development stage                                     (646,915)
                                                                                       --------

         TOTAL STOCKHOLDERS' EQUITY (DEFICIT)                                          ( 53,765)
                                                                                       --------


         TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                    $166,472
</TABLE>











                                        See summary of  accounting  policies and
                                        notes to financial statements.


<PAGE>

                                              AGRI BIO-SCIENCES, INC.
                                           (A Development Stage Company)
                                              Statements of Expenses


<TABLE>
<CAPTION>

                                                      - - 1999          - - 1999         - - 1998       - - 1998        May 30, 1995
                                                      3 Months          6 Months         3 Months       6 Months         (Inception)
                                                         Ended             Ended            Ended         Ended          to June 30,
                                                       June 30           June 30          June 30        June 30                1999

<S>                                                    <C>                  <C>              <C>            <C>            <C>

EXPENSES
  Fees paid for services
    by stockholders
  168,400
  Other administrative                               $  11,055         $  43,667        $  31,540        $47,023             332,175
  Inventory writedown                                                                                                        100,000
  Interest                                                                                                 2,710              38,090
  Depreciation                                           1,250             2,500              0              0                 8,250
                                                     ---------         ---------       ----------      ---------          ----------

         Net (Loss)                                 $(12,305)          $(46,167)       $( 31,540)      $(49,733)          $(646,915)
                                                    ========           ========        ==========      =========          =========


(Loss) per common share                                $(.001)           $(.004)          $(.003)        $(.005)
Weighted Average
  Shares Outstanding                                10,900,000        10,900,000       10,900,000     10,716,667
</TABLE>





























                                        See summary of  accounting  policies and
                                        notes to financial statements.
<PAGE>

                                             AGRI BIO-SCIENCES, INC.
                                           (A Development Stage Company)
                                             Statements of Cash Flows
                                       6 Months Ended June 30, 1999 and 1998 and
                                   the period from May 30, 1995 (Inception)
                                               Through June 30, 1999

<TABLE>
<CAPTION>


                                                                                                          Inception
                                                                                                            Through
                                                                            1999             1998              1999
                                                                       ---------        ---------        ----------

<S>                                                                        <C>             <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net (loss)                                                           $(46,167)        $(49,733)        $(646,915)
  Adjustments to reconcile net income
         to net cash provided by
         operating activities
    Depreciation                                                           2,500                              8,250
    Writedown of inventory                                                                                  100,000
    Common stock issued for services                                                       12,000            67,650
    Contribution of imputed interest                                                                         30,000
    Changes in:
         Accounts payable                                                 19,014            4,927            26,926
         Accrued expenses                                                  1,500        (  1,200)             9,310
                                                                        --------        --------          ---------

  NET CASH USED BY OPERATING ACTIVITIES                                 (23,153)        ( 34,006)         (404,778)
                                                                        -------         --------          --------

CASH FLOWS FROM INVESTING ACTIVITIES
  Plant site construction and equipment
    purchases                                                                            (73,886)

CASH FLOWS FROM FINANCING ACTIVITIES
  Sales of common stock for cash                                                          125,500           895,500
  Advances by shareholders                                                12,000          42,000             84,000
  Payments on bank credit line                                                          (128,210)
  Cash paid to repurchase shares from
    a founding shareholder                                                                                (500,000)

  NET CASH PROVIDED BY FINANCING ACTIVITIES                               12,000           39,290           479,500
                                                                        --------         --------         ---------

NET INCREASE (DECREASE) IN CASH                                         (11,153)            5,284               836

CASH     - Beginning of period                                            11,989            7,597

         - End of period                                                $    836         $ 12,881         $     836
                                                                        ========         ========         =========


SUPPLEMENTAL DISCLOSURES
  Non-cash investing and financing activities:
    Contribution of plant site at inception                                              $100,000
    Purchase of bagged fertilizer for
         note payable                                                                                       100,000
</TABLE>
                       See summary of accounting policies and notes to financial
                       statements.


<PAGE>



                             AGRI BIO-SCIENCES, INC.
                          (A Development Stage Company)
                          Notes to Financial Statements



NOTE 1 - BASIS OF PRESENTATION

The accompanying  unaudited interim financial  statements of Agri  Bio-Sciences,
Inc.  have been  prepared  in  accordance  with  generally  accepted  accounting
principles and the rules of the Securities and Exchange Commission ("SEC"),  and
should be read in conjunction  with the audited  financial  statements and notes
thereto  contained in the  Company's  latest Annual Report filed with the SEC on
Form 10-KSB. In the opinion of management, all adjustments, consisting of normal
recurring  adjustments,  necessary for a fair presentation of financial position
and the  results of  operations  for the  interim  periods  presented  have been
reflected  herein.  The results of  operations  for interim are not  necessarily
indicative  of the  results  to be  expected  for the  full  year.  Notes to the
financial   statements  which  would  substantially   duplicate  the  disclosure
contained in the audited  financial  statements for the most recent fiscal year,
1998, as reported in the Form 10-KSB, have been omitted.



<PAGE>


                                PLAN OF OPERATION

         Agri Bio-Sciences,  Inc., a Delaware corporation (the "Company"),  is a
developmental  stage company formed for the production of a fertilizer  known as
"Micro Min." It has not yet commenced full-scale sales, marketing, or production
activities,  has not generated any revenue from operations and will not generate
revenue from operations until it commences its sales operation in Mexico.  While
there can be no assurance  that the Company will be able to generate  meaningful
revenue or achieve profitable operations,  it is expected to start selling Micro
Min in Mexico during the early part of September, 1999.

     The  Company  expects  to become a  publicly  traded  company  through  the
distribution  of 100,000  shares of its Common Stock,  par value $.001 per share
("Common Stock") to the stockholders of GS Financial Services,  Inc., a Delaware
corporation ("GS  Financial").  Such  distribution is referred to hereinafter as
the   "Distribution."  The  Distribution  has  been  registered  with  the  U.S.
Securities  and  Exchange  Commission,  but has not yet  been  completed  due to
several  unforeseeable  and  unexpected  delays not  within  the  control of the
Company.  The Company is working  diligently  to complete the  Distribution  and
reasonably  expects the  Distribution  to be completed near or around the end of
August 1999,  although there can be no assurance in this regard.  The Company is
currently  seeking to procure an initial  market  maker for the Common  Stock so
that trading in the Common Stock may commence in the near future.

EXCLUSIVE SALE AND PURCHASE ARRANGEMENT:

         Global Farm Sciences, Inc., a Texas corporation ("Global"),  was formed
in  December  1997 by Lester  Stephens,  M. Manny  Kalish and  Patrick N. Morgan
(founders  and board  members of the  Company)  for the  purpose of selling  the
Company's product to foreign entities.  On August 27, 1998, the Company signed a
five-year exclusive product sales agreement with Global. This Agreement requires
Global to purchase  2,000 metric tons of Micro Min during the year 1999 and 2000
and thereafter  purchase  3,000 metric tons of Micro Min during each  succeeding
year.  Global must pay $620.00 per metric ton in United States dollars,  FOB the
Company's plant facility in Bay Springs,  Mississippi.  Global must remit 50% of
the  purchase  price with each  purchase  order for Micro Min  forwarded  to the
Company.  (This  initial  amount  provides  the Company with  adequate  funds to
produce  one metric ton of product  and thereby  provides  the Company  with the
necessary funds to keep the plant in operation).  Thereafter,  Global must remit
the remaining 50% payment of its purchase  order to the Company within ninety 90
days of their receipt of the product FOB the plant.  The Global agreement may be
terminated prior to its five-year term upon the occurrence of certain  customary
termination  events,  such  as  breach  of  contract  or  bankruptcy.   For  the
foreseeable   future,   Global  intends  to  rely  on  its   relationship   with
FERTILIZANTES NACIONALES,  S.A. de C.V. and The National College of Agricultural
Engineers for purposes of generating sales of Micro Min.

BANK FINANCING SALES:

         Global Farm  Sciences,  Inc.,  has recently  established a relationship
with the Banco de  Mexico,  the  national  bank of  Mexico.  Banco de Mexico has
indicated a desire to furnish the Mexican  farmer with a credit line  sufficient
for the farmer to purchase certain items of agriculture necessary for the farmer
to grow  crops.  This  credit  line will be  established  by the  Mexican  sales
organization  in  Mexico  designated  by  Global.  In  this  case,  it  will  be
FERTILIZANTES NACIONALES,  S.A. de C.V. ("FERTINAL"),  an established fertilizer
sales  organization  in Mexico  which  reports that it has a 35% market share of
fertilizer sales in Mexico.

SALES PROCEDURE:

         In essence,  Global Farm Sciences,  Inc.  will purchase Micro Min from
the Company FOB the Company's  plant facility in Bay Springs,  Mississippi,  for
the sum of  $620.00  per  metric  ton of Micro  Min.  Global  will then ship the
product to a Mexican  port  (Veracruz),  where  trucks  owned by  FERTINAL  will
transport it to one or more of their 26O warehouses  located  throughout Mexico.
Once at one of those  warehouses,  the product will be sold to client/farmers of
FERTINAL  by  salesmen  using the  Banco de  Mexico's  line of credit  financing
package.  We understand  that Banco de Mexico's plan includes the farmer placing
his land in trust as collateral  against the line of credit. The Banco de Mexico
reports that this is a normal  operating  procedure used  throughout  Mexico for
years.  Management believes that the reason the Banco de Mexico has indicated an
interest in the current  plan  because it  will  allow it to have  thousands  of
salesmen  (FERTINAL  and  others)  acting as loan  application  managers.  These
salesmen  will  initially  apply  the  Banco de  Mexico  loan  package  to their
farmer/client  and at the same time take a  representative  soil sample from the
farmer's land. The  farmer/client's  application with proper loan papers will be
presented  to the  local  branch  of the Banco de  Mexico,  and the soil  sample
forwarded by national bus  transportation  to Intertek  Testing Service (I.T.S.)
laboratory located in Mexico City.

LABORATORY OPERATION:

         Intertek Testing Service, is an ISO 9002 Certified company with offices
in 102 countries of the world. It has eleven laboratories in Mexico. I.T.S. will
be using the  Company's  laboratory  computer  copyrighted  software and testing
protocols  to do the soil,  water and plant  testing for all  farmer/clients  of
FERTINAL.  Assisting  them  in  this  service  is  Global's  vice  president  of
laboratory  technology,  Robert A. Kalish. The I.T.S.  laboratory in Mexico City
will receive the sample and process it using the Company's computer  copyrighted
software to  complete  an  analytical  report for the farmer  which  depicts the
present  condition of the farmer's soil.  This report also  recommends the exact
fertilizers to be used both in kind and amounts on a per acre basis.  Management
believes  that a service like this has never before  available to the farmers of
Mexico.  The soil  analytical  report will be reduced to computer  language  and
forwarded   by  MODEM  to  a  computer  in  the  sales  office   servicing   the
farmer/client.  Global reports that it has  sufficient  funds  in  its budget to
install  computers  in each of the sales  offices in those  initial  areas being
targeted for Micro Min sales.  A computer  server is presently  installed in the
I.T.S. offices in Mexico City.

ADDED SALES FORCE:

         The College of Agricultural Engineers (the "College") is an association
of  graduates  of various  agricultural  colleges  in Mexico and is  mandated by
Article 3 of the  Constitution  of  Mexico.  Each of  Mexico's  32 states  has a
College  of  Agricultural  Engineers  organization  and each  state has about 10
branch offices servicing the state's College.  The College estimates that it has
about 15,000  agricultural  engineer members  nationwide.  By law the College is
authorized  to pursue  commercial  avenues to provide the various  Colleges with
funds with which to operate  successfully.  The  purpose of the  Colleges  is to
assist the farmers in their state to grow the best  possible  crops at the least
possible  costs.  The  presidents  of the state  Colleges in Morelos,  Veracruz,
Tlaxcala,  Puebla, Michuacan,  Tabasco, and the states of the Yucatan Peninsula,
have stated that they were going to organize a commercial  branch of their state
College so that they could also be certified by I.T.S.  to take soil samples and
sell  fertilizers.  The Colleges would then be able to buy whatever FERTINAL has
in their  warehouses  for eventual  sale to the College's  farmer/clients.  Each
FERTINAL and College salesperson is expected to contact approximately 45 farmers
per week with regard to the  services of I.T.S.  and the  products  FERTINAL has
warehoused for use by farmers for their crops. As micronutrients are some of the
most important  fertilizers  to be  recommended  by any analytical  soil testing
service, it is expected that Micro Min will be chosen by the farmer as it is the
only blended micronutrient fertilizer licensed in Mexico.

CORPORATE FUTURE GOALS:

         One of the  Company's  primary  goals  in the  immediate  future  is to
complete a written product sales agreement  between Global and I.T.S.,  FERTINAL
and the various state Colleges of Agricultural Engineers.  While there can be no
assurance  that  definitive   agreements  will  be  entered  into  or  that  the
relationships  between  Global and  FERTINAL,  the  College,  and  I.T.S.,  will
continue,  it appears that it would be in  everyone's  best interest to complete
these agreements as the total plan of operation appears  extremely  workable and
certainly  profitable to all concerned  including  the  country's  farmers.  The
Company expects these  agreements to be completed by the early part of September
1999. If these relationships fail to continue, the Company intends to resume its
original  sales and marketing plan  described in its  Registration  Statement on
Form SB-2 (Commission File No.
333-51977).

THE COMPANY PROVIDES PRODUCT ONLY:

         The Company will not  participate in any of Global's  sales  operations
regardless of the area of sales.  Such  operations  are maintained and funded by
Global  alone.  The  Company is only  expected  to produce  Micro Min product as
needed by Global in any of its sales areas. Because of the Company's affiliation
with Global,  the Company expects that Global will allow the Company  sufficient
time to order new bags,  obtain raw material and produce  product as expected or
projected by Global.

         The Company does not believe that it will need any  financing  over the
next 12 months. Management believes that the Company will be able to finance its
operations  through  its  receipt of down  payments  in the amount of 50% of the
purchase price of each purchase  order issued by Global.  Such down payments are
expected to cover all direct costs of producing the related product. The Company
has only minimal  overhead,  which has thus far been  financed  through  amounts
advanced by M. Manny Kalish, a director of the Company. Mr. Kalish has indicated
that he intends to continue to provide limited financing of overhead,  but he is
under no legal obligation to do so and may cease at any time.

         Moreover,  the Company does not intend to conduct any further  research
and  development  over the next 12 months.  However,  if Global  meets its sales
expectations,  the  Company  expects  to add  (during  the  next  12  months)  a
California  Pellet Mill pelletizer and sufficient  additional  employees to meet
the demand for additional production.


<PAGE>


PART II. OTHER INFORMATION

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

         During the quarter ended June 30, 1999,  the Company did not effect any
sale of any equity securities not registered under the Securities Act of 1933.

         On April 22, 1999,  the Company's  Registration  Statement on Form SB-2
(Commission File No. 333-51977) was declared effective by the U.S Securities and
Exchange  Commission.  This Registration  Statement registered 100,000 shares of
the Common Stock by GS Financial.  Pursuant to a written  agreement  between the
Company  and GS  Financial,  these  100,000  shares  of  Common  Stock are to be
distributed to the stockholders of GS Financial in the Distribution. The Company
will receive no proceeds from the  Distribution.  Consequently,  the Company has
received no proceeds from the offering  registered  pursuant to the Registration
Statement.  The Distribution has been delayed from its expected  completion date
for several  reasons  beyond the control of the Company.  The Company is working
diligently to complete the Distribution and reasonably  expects the Distribution
to be completed near or around the end of August 1999,  although there can be no
assurance in this regard.

      The following is the approximate  actual expenses  incurred by the Company
in connection with the Distribution registered under the Registration Statement.
All of these  expenses were paid to persons other than  directors or officers of
the Company or persons  owning 10% or more of any class of equity  securities of
the Company.

<TABLE>
<CAPTION>
         Item                                                                                                Amount

<S>                                                                                                           <C>

         Legal Fees and Expense...........................................................................  17,850
         Accounting Fees and Expenses ....................................................................  14,290
         Prospectus Duplication .........................................................................      800
         Transfer Agent..................................................................................    3,000
                                                                                                             -----
         Total ...........................................................................................  35,940
                                                                                                            ------
</TABLE>


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)      The following  exhibits are filed with this Quarterly Report or are
               incorporated  herein by reference:

                  Exhibit
                  Number                    Description

                   27                       Financial Data Schedule

(b)      Reports on Form 8-K

                  None




<PAGE>


                                    SIGNATURE

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

                                  AGRI BIO-SCIENCES, INC.
                                  (Registrant)


                                  By: /s/Lester H. Stephens
                                  Lester H. Stephens,
                                  President
                                  (Principal Executive
                                  Officer, Principal
                                  Financial Officer and
                                  Principal Accounting Officer)


Dated: August 16, 1999