SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   FORM 10-QSB

      (Mark One)

      [ x ]   Quarterly report under Section 13 or 15(d) of The Securities
              Exchange Act of 1934

      For the quarterly period ended 30 September 1999

      [   ]   Transition report under Section 13 or 15(d) of The Securities
              Exchange Act of 1934

      For the transition period from ____________ to _______________

      Commission file number:  000-22329

                                POWERTRADER, INC.
        (Exact Name of Small Business Issuer as Specified in its Charter)

            Delaware                                      98-0163116
 (State or other Jurisdiction of                       (I.R.S. Employer
 Incorporation or Organization)                        Identification No.)

                               5255 Orbitor Drive
                          Mississuaga, Ontario L4W 4Y8
                    (Address of Principal Executive Offices)

                                 (905) 629-8000
                (Issuer's Telephone Number, Including Area Code)

                         885 Dunsmuir Street, Suite 591,
                       Vancouver, British Columbia V6C 1N5
               (Former Name, Former Address and Former Fiscal Year
                          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 of 1934 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               No   X
               -----            -----

         State the number of shares  outstanding of each of the issuer's classes
of common equity, as of the latest practicable date:

          Class                                   Number of Shares Outstanding
          -----                                   ----------------------------

 Common Stock, par value $0.01                             22,383,115


         Transitional Small Business Disclosure Format (check one):

           Yes               No   X
               -----            -----

<PAGE>

                                POWERTRADER, INC.

           QUARTERLY REPORT TO THE SECURITIES AND EXCHANGE COMMISSION

                              FOR THE QUARTER ENDED
                               September 30, 1999

                         PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements

          Unaudited Consolidated Balance Sheet as of September 30, 1999

          Unaudited Consolidated Interim Statement of Loss and Deficit for
          the Three months ended September 30, 1999 and September 30, 1998

          Unaudited Consolidated Interim Statement of Cash Flow for the
          Three months ended September 30, 1999 and 1998

          Notes to Unaudited Consolidated Financial Statements

Item 2.   Management's Discussion and Analysis or Plan of Operation


                           PART II - OTHER INFORMATION


Item 6.   Exhibits and Reports on Form 8-K

SIGNATURE PAGE

EXHIBIT INDEX


<PAGE>

                         PART I - FINANCIAL INFORMATION

                          Item 1. Financial Statements

                                POWERTRADER, INC.
                      UNAUDITED CONSOLIDATED BALANCE SHEET
                               September 30, 1999
                           (Expressed in U.S. Dollars)

                                        September 30, 1999        June 30, 1999
                                        ------------------        -------------
      Assets

      Current Assets:
      Cash                                  $    31,058             $   31,058
      Due from related party                    205,050                205,050
                                             ----------              ---------
        Total current assets                $   236,108             $  236,108

      Fixed assets                          $       --              $      --
                                             ----------              ---------
      Total assets                          $   236,108             $  236,108

      Liabilities:

      Current Liabilities:
      Accounts payable and accrued
        liabilities                         $    40,000              $  40,000
      Due to related party                      406,208                406,208
                                             ----------               --------
        Total current liabilities           $   446,208              $ 446,208

      Capital lease obligation              $       --               $     --
      Share subscriptions                           --                     --
                                              ---------               --------
        Total liabilities                   $   446,208              $ 446,208

      Shareholders' equity (Deficit)
      Share capital                         $ 1,132,530            $ 1,132,530
      Capital surplus                         2,245,693              2,245,693
      Accumulated deficit during
        development stage                    (3,588,323)            (3,588,323)
                                             ----------             ----------
        Total shareholder equity            $  (210,100)            $ (210,100)
        Total liabilities and
          shareholder equity                    236,108                236,108


<PAGE>


                        UNAUDITED CONSOLIDATED STATEMENT
                               OF LOSS AND DEFICIT
             For the Three Months ended September 30, 1999 and 1998
                           (Expressed in U.S. Dollars)

                                    Three Months Ended     Three Months Ended
                                    September 30, 1999     September 30, 1998
                                          (Unaudited)           (Unaudited)
                                    -----------------     -------------------

      Revenue                         $        ---            $         410
      Cost of sales                            ---                   10,124
                                       -----------             ------------
                                      $        ---            $      (9,714)

      Selling, general and
        administrative costs          $        ---            $      34,710
      Development costs                        ---                   92,393
                                       -----------             ------------
                Net loss              $        ---            $    (136,817)

      Deficit beginning of period     $ (3,588,323)           $  (3,293,350)
      Deficit end of period             (3,588,323)           $  (3,429,868)

      Loss per share                  $      (0.00)           $       (0.02)

      Weighted average shares
        of outstanding common
        stock and equivalent            22,313,115                8,283,115

<PAGE>


                         UNAUDITED CONSOLIDATED INTERIM
                             STATEMENT OF CASH FLOW
             For the Three months ended September 30, 1999 and 1998
                           (Expressed in U.S. Dollars)

                                       Three months ended     Three months ended
                                       September  30 1999     September 30, 1998
                                       ------------------     ------------------

Cash provided (used) by                    $         ---          $         ---

Operating Activities
  Net loss for period                      $         ---          $    (136,817)

  Items not involving cash
    Amortization                           $         ---          $      86,738

  Increase (decrease) in:
    Deposits and prepaids                  $         ---          $         ---
    Accounts receivable                              ---                    ---
    Accounts payable and
      accrued liabilities                  $         ---                 42,396
                                            ------------           ------------
                                           $         ---          $      (7,683)

  Financing activities
    Notes payable financing received       $         ---          $         ---
    Note payable financing repaid                    ---                    ---
    Lease financing received                         ---                    ---
    Repayment of obligations under
      capital lease                                  ---                   (823)
    Shareholders' advances                           ---                    ---
    Issuance of share capital
      and subscription                     $         ---          $      10,000
                                            ------------           ------------
                                           $         ---          $       9,177

  Investing activities
    Net assets acquired on
      Reverse Acquisition                  $         ---          $         ---
    Investment in fixed assets                       ---                    ---
                                            ------------           ------------
                                           $         ---          $         ---

  Increase (decrease) in cash
  Cash, beginning of period                $      31,058          $       1,494
  Cash, end of period                             31,058                  6,000
                                            ------------           ------------
                                           $      31,058          $       7,494

<PAGE>



                                POWERTRADER, INC.
                          (A Development Stage Company)

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                           (Expressed in U.S. Dollars)
                               September 30, 1999


NOTE A:     The  accompanying  unaudited  consolidated  financial  statements of
            PowerTrader,  Inc. (the "Company") and its  wholly-owned  subsidiary
            PowerTrader  Software  Inc.,  as of and for the three  months  ended
            September  30, 1999 and  September  30,  1998 have been  prepared in
            accordance  with the rules and  regulations  of the  Securities  and
            Exchange  Commission and do not include all of the  information  and
            footnotes required by generally accepted  accounting  principles for
            complete financial  statements.  The Company's accounts are included
            in these financial  statements from January 2, 1997, the date it was
            acquired by PowerTrader Software Inc.

            In the opinion of management,  all adjustments  considered necessary
            for a fair  presentation  of the results of the interim periods have
            been  included.  Operating  results for any  interim  period are not
            necessarily  indicative  of the results that may be expected for the
            entire fiscal year. These  statements  should be read in conjunction
            with the financial  statements  and notes thereto for the year ended
            June 30,  1999  included in the  Company's  report in Form 10KSB  as
            filed with the Securities and Exchange Commission.

NOTE B:     Prior to March 1, 1999 the Company designed, developed, marketed and
            supported  informational  and analytical  dealing  decision  support
            systems.   Since  that  date  the  Company  has  engaged   upon  the
            development of a new software product known as DataMill.

NOTE C:     The Company records revenue from the sale of computer  software upon
            shipment.

NOTE D:     Exchange Rates

            Exchange  Rates  between the United  States  dollar and the Canadian
            dollar for the period reported in these financial  statements are as
            follows:

                                                   1999              1998
                                                   ----              ----
                  Average                          1.4907            1.5359
                  As of September 30, 1999         1.4700            1.5259

<PAGE>


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

         This report contains  forward-looking  statements within the meaning of
Section 21E of the  Securities  Exchange Act of 1934, as amended and Section 27A
of the  Securities  Act of 1933, as amended.  For this purpose,  any  statements
contained  herein  that are not  statements  of  historical  fact may be  deemed
forward-looking   statements.   Without   limiting  the  foregoing,   the  words
"believes",  "anticipates",  "plans",  "expects"  and  similar  expressions  are
intended to identify  forward-looking  statements.  Readers are cautioned not to
place undue reliance on forward-looking  statements,  which speak only as of the
date  hereof.  The Company  undertakes  no  obligation  to publicly  release the
results of any revisions to these  forward-looking  statements which may be made
to reflect  events or  circumstances  after the date  hereof or to  reflect  the
occurrence of unanticipated events. These  forward-looking  statements should be
read in conjunction with the Company's disclosures under the heading "Cautionary
Statements - Additional  Important  Factors to be Considered" in Exhibit 99.1 to
the Company's Form 10-KSB for the fiscal year ended June 30, 1999.

         The  following  should  be  read  in  conjunction  with  the  Financial
Statements and Notes thereto. Unless otherwise indicated,  all dollar values are
expressed in U.S. Dollars.

Overview

         Prior to March 1, 1999 PowerTrader,  Inc. (the "Company"),  through its
subsidiary PowerTrader Software Inc. ("PSI"), designed,  developed, marketed and
supported  informational and analytical  decision support systems for securities
brokerage firms, investment advisers,  trust companies and individual investors.
The Company's  focus has shifted to the  development,  in  conjunction  with its
controlling  shareholder,  Financial  Models  Company  Inc.  ("FMC"),  of a  new
software product known as DataMill.

         On October 16, 1998, in an effort to raise  sufficient funds to satisfy
immediate  cash needs and protect its  significant  assets,  the Company  issued
14,000,000  shares of Common Stock, at $0.01U.S.  per share, the market price of
the Company's  Common Stock on such date,  to FMC in exchange for  U.S.$140,000.
FMC also  acquired  1,309,696  shares of Common  Stock from 458468 B.C.  Ltd., a
company controlled by Michael C. Withrow,  president and chief executive officer
of the Company,  at $0.01 U.S. per share.  Upon closing FMC owned  approximately
67% of the issued and outstanding shares of Common Stock of the Company.

         FMC was incorporated on February 2, 1976 in the Province of Ontario. In
December 1997 FMC became a reporting  issuer  pursuant to the  provisions of the
Ontario  Securities  Act. In July 1998 FMC became  listed on the  Toronto  Stock
Exchange under the symbol "FMC". FMC is a leading provider of software products,
network  services,  securities  data  and  related  services  to the  investment
management industry in Canada, the United States, United Kingdom and Europe. The
Company's  products  are used by more than 200  clients  world-wide  with  total
assets under management in excess of $2 trillion.

         From  November  1,  1998 to  February  28,  1999 the  Company  provided
professional  services to FMC for the design and  development of enhancements to
the  DataMill  software,  the  source  code of  which  was  licensed  to FMC for
development and internal use as part of the October 16, 1998 transaction.

         On February 28, 1999, as part of the restructuring  efforts  undertaken
by  FMC  as  the  controlling  shareholder,  the  Company  executed  a  Purchase
Agreement  for  the  sale  of all its  shares  in PSI to FMC for a price  of Cdn
$300,000.  As part of the  consideration for the transaction FMC agreed to grant
to the Company  all right,  title and  interest in the source code for  DataMill
containing  the  enhancements  made for FMC and FMC  undertook to provide to the
Company, by December 31, 1999, a prototype of DataMill ready for Beta testing as
a commercial product. Upon completion of the prototype the Company has agreed to
grant to FMC  certain  marketing  rights and to provide  all future  upgrades to
DataMill to FMC without additional charge. The Company has further undertaken to
contract with FMC for professional  services to provide all future  enhancements
to DataMill.  Concurrent  with the  transaction,  PSI granted to the Company all
right, title and interest in its proprietary software and intellectual property.

         The Company has been and remains a development  stage company.  Because
of the Company's  limited operating  history,  the results of operations to date
are not  necessarily  indicative  of future  operating  results.  Moreover,  the
Company believes that its  developmental  operations to date render  traditional
accounting presentations meaningless.

Results of Operations

Sales

         There was no revenue  from sales  during the three month  period  ended
September  30,  1999,  as  compared  to $410 for the same  period  in 1998.  All
revenues during fiscal 1999, after acquisition of control of the Company by FMC,
had been  generated  from the sale of a source code  license for DataMill to FMC
and from the provision of  professional  services for design and  development of
DataMill for and on behalf of FMC. With the acquisition of PSI by FMC, effective
March 1, 1999,  all  employees  of PSI  supplying  professional  services to FMC
became  employees  of FMC.  The Company has not yet begun to market its DataMill
software,  which  the  Company  expects  will be the  primary  source  of future
revenues.

Cost of Sales

         No Cost  of  Sales  was  recorded  for the  three  month  period  ended
September  30, 1999 as  compared to $10,124 for the same period in 1998.  Again,
with the acquisition of PSI by FMC, all costs became the  responsibility  of FMC
on and after  March 1, 1999.  Future  Cost of Sales will not be  incurred  until
marketing of the DataMill software is undertaken.

Selling, General and Administrative Costs

         No Selling,  General and Administrative Costs ("SGA") were recorded for
the three month period ended September 30, 1999, compared to $34,710 in the same
three month period in 1998.  SGA include  salaries  and  benefits for  corporate
management,  administrative and sales personnel, as well as rent expense for the
Company's  office  premises.  With the acquisition of PSI by FMC, after March 1,
1999 all SGA were the responsibility of FMC.

Development Costs

         No Development Costs were recorded for the three months ended September
30,  1999,  compared to $92,393 for the same period in 1998.  Under the terms of
the  acquisition  of PSI by FMC, FMC agreed to continue  development of DataMill
with a view to  providing  the Company with a prototype  version for  commercial
Beta testing by December 31, 1999. The costs of such development are being borne
by FMC. It is not  expected  the Company will incur  further  development  costs
until the third quarter of the current fiscal year 2000.

Net Loss

         As a result of the foregoing, the Company experienced no net losses for
the  quarter  ending  September  30,  1999,  as  compared  to  $136,817  for the
comparable  period in 1998.  Subsequent to receipt of the  prototype  version of
DataMill the Company believes  additional  research and development expense will
be  incurred  to  complete a  commercial  version of  DataMill  and  establish a
competitive  market position.  Such expenses will likely result in losses to the
Company until revenue from sales are  generated.  Such losses will likely have a
negative impact on the Company's  results of operation if sales of the Company's
DataMill product are delayed or fail to materialize.

Liquidity and Capital Resources

         The  principal  source  of funds to the  Company  and PSI  since  their
respective  formation has been derived from the net proceeds of certain  private
offerings of securities  which,  together with the proceeds of sales,  have been
used to fund continued  development selling,  general and administrative  costs.
The source of funds for the past fiscal year was  primarily  monies  advanced by
FMC, in the amount of $406,208, which funds have been used to retire outstanding
indebtedness owed to the Company's suppliers.  Revenue generated from agreements
for the maintenance and ongoing operation of Beta site licenses  previously sold
by the  Company  is no longer a source of funds  because  these  contracts  have
expired or been cancelled.  The Company  believes that additional  financing for
the next  twelve  months  will  continue to be provided by FMC. In the event FMC
does not provide such financing the Company may be unable to obtain satisfactory
alternate  financing on acceptable  terms and this could have a material adverse
effect on the Company's business, financial condition and results of operations.
Moreover,  if additional  funds are raised by the issuance of equity  securities
dilution to existing  stockholders  could result.  Financing  from a lender will
cause the Company to incur additional debt.

         The  Company's  limited  capital  resources  have caused the  Company's
independent accountants to issue a report which indicates that substantial doubt
exists as to the Company's ability to continue as a going concern.

Income Taxes

         As of June 30, 1999, the Company had no income tax loss  carry-forwards
available  to  reduce  future  taxable  income.   Tax  losses  of  approximately
$2,950,000 were sold as part of the sale of PSI to FMC.

<PAGE>

Year 2000 Readiness Disclosure

         Many existing  information  systems were designed and developed without
consideration  of the impact of the next  millennium and  accordingly may not be
capable  of  accurately  processing  dates  which  include  the Year 2000 or any
subsequent  year ("Year 2000  Issue").  The Company has  formulated  a Year 2000
Action Plan (the "Plan") to deal with the Year 2000 Issue. Because the Company's
focus has shifted to the development of DataMill through the efforts of FMC, the
Plan is geared to a review of the Company's  internal systems and the monitoring
of FMC's preparedness.  Specifically,  the principal tasks and goals of the Plan
include:

         o        assessment of the Company's computer systems;

         o        remediation of any identified problems;

         o        testing of the systems; and

         o        monitoring of the preparedness of FMC.

         Based on an initial and preliminary  internal assessment of its current
information system and current product offerings,  the Company believes that its
current  products and computer  system are capable of accurately  processing the
dates involved with the Year 2000 Issue. Also, based on initial discussions with
FMC,  the Company  believes  FMC has taken the  necessary  steps to be Year 2000
compliant. The Company expects to complete its Year 2000 Action Plan by December
1, 1999.

         The  failure by the  Company to  successfully  implement  the Year 2000
Action  Plan could  result in an  interruption  in or  failure  to  develop  and
implement  the  DataMill  product.  The Company is also  exposed to the possible
failure  of FMC to  prepare  adequately  for the Year  2000  Issue.  In the most
reasonably-likely  worst  case  scenario,  FMC would be unable  to  develop  the
DataMill product as currently scheduled or the Company,  after having acquired a
prototype,  would be unable to support  the  product on its system  until a Year
2000 compliant information system is installed.  These failures could materially
adversely  affect the Company's  results of operations,  liquidity and financial
condition.

         In order to reduce these risks, we have developed  certain  contingency
plans,  including  seeking a new  partner  that  would be Year  2000  compliant.
Catastrophic events, such as the loss of utilities, are outside the scope of our
contingency plans.


<PAGE>

                                     PART II
                                OTHER INFORMATION

Item 6.    Exhibit and Reports on Form 8-K

           (a)    See Exhibit Index

           (b)    No reports on Form 8-K were filed with the Commission during
                  the first quarter of fiscal 2000.


                                   SIGNATURES


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

                                           POWERTRADER, INC.



Dated:     March  22 , 2000               By:  /s/ Stamos D. Katotakis
                -----                          ---------------------------------
                                               Stamos D. Katotakis
                                               President, Chief Executive
                                               Officer and Principal Financial
                                               Officer

<PAGE>


                                  EXHIBIT INDEX


           Exhibit No.              Description
           -----------              -----------

              27.1               Financial Data Schedule