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 31 December 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
                           Mississauga, Ontario Canada
                                     M4W 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
                                December 31, 1999

                         PART I - FINANCIAL INFORMATION

      Item 1.   Financial Statements

                Unaudited Consolidated Balance Sheet as of December 31, 1999

                Unaudited Consolidated Interim Statement of Loss and Deficit
                for the Six and Three months ended December 31, 1999 and
                December 31, 1998


                Unaudited Consolidated Interim Statement of Cash Flow for the
                Six and Three months ended December 31, 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
                                December 31, 1999
                           (Expressed in U.S. Dollars)

                                            December 31, 1999      June 30, 1999
                                            -----------------      -------------

 Assets

 Current Assets:
 Cash                                             $   31,058        $   31,058
 Due from Financial Models                           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
                                                  ----------         ---------
           Total current liabilities              $   40,000        $   40,000

    Due to Financial Models Company Inc.          $  406,208           406,208

 Capital lease obligation                         $      ---               ---
                                                  ----------         ---------
           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>

<TABLE>
<CAPTION>


                        UNAUDITED CONSOLIDATED STATEMENT
                               OF LOSS AND DEFICIT
      For the Three Months and Six Months ended December 31, 1999 and 1998
                           (Expressed in U.S. Dollars)

                           Six Months      Six Months     Three Months         Three Months
                             Ended           Ended            Ended                Ended
                           December 31,    December 31,    December 31,         December 31,
                             1999            1998             1999                  1998
                           (Unaudited)    (Unaudited)      (Unaudited)          (Unaudited)
                           ------------   -------------    ------------        -------------
<S>                     <C>                <C>             <C>                <C>

Revenue                    $     --        $  86,958         $     --            $  86,548
Cost of sales                    --           17,385               --                7,261
                            --------        --------          ---------           ---------
                           $     --        $  69,573         $     --            $  79,287

Selling, general and
 administrative costs      $     --        $  85,186         $     --            $  50,477
Development costs                --          196,321               --              103,928
                            --------        --------          ---------           --------
Net loss                   $     --      $  (211,935)        $     --            $ (75,118)

Deficit beginning of
period                   $(3,588,323)   $ (3,293,050)       $(3,588,323)       $(3,429,868)
Deficit end of period    $(3,588,323)   $ (3,504,985)       $(3,588,323)       $(3,504,986)

Loss per share             $    0.00     $     (0.02)        $     0.00         $    (0.01)

Weighted average
shares of outstanding
common stock and
equivalent                22,283,115       12,979,782        22,283,115         12,979,782

</TABLE>

<PAGE>

<TABLE>
<CAPTION>

                         UNAUDITED CONSOLIDATED INTERIM
                         STATEMENT OF CASH FLOW For the
              Three and Six months ended December 31, 1999 and 1998

                                Six months      Six months      Three months         Three months
                                   ended          ended             ended                ended
                                December 31,    December 31,    December 31,         December 31,
                                   1999           1998              1999                 1998
                                -----------     -----------    -------------       --------------
<S>                           <C>             <C>            <C>                <C>

Cash provided (used) by

Operating Activities
    Net loss for period         $     --        $  (211,935)      $       --       $     (75,118)

    Items not involving cash
      Amortization              $     --        $   173,477       $       --       $      86,738

Increase (decrease) in:
      Accounts payable and
      accrued liabilities       $     --           (325,662)              --            (378,059)
                                 ---------      -----------       -----------       ------------
                                $     --        $  (364,121)      $       --       $    (366,438)

Financing activities
      Note payable financing
       repaid                   $     --        $   (15,000)      $       --       $     (15,000)
      Lease financing received        --               (823)              --                  --

      Shareholders' advances          --            347,452               --             347,452
      Issuance of share capital
             and subscription         --            140,000               --             140,000

                                 ---------       ----------
                                $     --         $  471,629       $       --      $      472,452

Investing activities
      Investment in fixed assets      --                 --               --                 --
                                 ----------      ----------        ----------      -------------
                                $      --        $       --       $       --      $          --

Increase (decrease) in cash     $      --        $  107,507       $       --      $      106,013
      Cash, beginning of period     31,058            6,000            31,058              7,494
                                 ---------       ----------        ----------      -------------

      Cash, end of period           31,058          113,507            31,058            113,507

</TABLE>

<PAGE>


                                POWERTRADER, INC.
                          (A Development Stage Company)

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                           (Expressed in U.S. Dollars)
                                December 31, 1998

NOTE A:        The accompanying  unaudited  consolidated financial statements of
               PowerTrader,  Inc. as of and for the three  months and six months
               ended  December 31, 1998 and December 31, 1997 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.  PowerTrader,  Inc.
               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,  1998  included  in the
               Company's  report in Form 10KSB  as filed with the Securities and
               Exchange Commission.

NOTE B:        Prior  to  March  1,  1999  PowerTrader,   Inc.  (the  "Company")
               designed,  developed,  marketed and supported  informational  and
               analytical dealing decision support systems.  Since that date the
               Company  has been  pursuing  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                        1.4733            1.5252
                  As of December 30, 1998        1.4433            1.5305


<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 has since  concentrated  on the  development,  in  conjunction  with
Financial  Models  Company  Inc.  ("FMC"),   its  controlling   parent,  on  the
development 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 $0.01 U.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 six month  period  ended
December  31,  1999,  as  compared  to  $86,958  for the  same  period  in 1998.
Similarly, there was no revenue during the three month period ended December 31,
1999, as compared to $86,548 during the comparable  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 to FMC 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,  although it expects that this  product will be the primary  source of
future revenues.

Cost of Sales

         No Cost of Sales was  recorded  for  either  the six month or the three
month period  ended  December 31, 1999 as compared to $17,385 and $7,261 for the
same periods,  respectively, 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 six month or the three month  period ended  December  31, 1999,  compared to
$85,186 and $50,477,  respectively, in the same six month and 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 six months or the three
months ended  December 31, 1999,  compared to $196,321 and $103,928 for the same
six and three month periods 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 expected the
Company will incur further  development costs commencing in the third quarter of
the current fiscal year 2000 when ongoing  research and  development of DataMill
will be provided, pursuant to the agreements aforesaid, by FMC's staff.

Net Loss

         As a result of the foregoing, the Company experienced no net losses for
the quarter ending  December 31, 1999, as compared to $75,118 for the comparable
period  in 1998.  Similarly  there was no  aggregate  net loss for the first six
months, ending December 31, 1999, as compared to $211,935 for the same 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 is achieved.  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  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.

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 risks to the Company and the Company's
Year 2000 Action Plan and related  mitigation efforts have been described in the
Company's  most recent  quarterly  report on Form  10-QSB for the quarter  ended
September 30, 1999. The Company completed its Year 2000 Action Plan prior to the
arrival of the year 2000, including receiving  reassurances from FMC that it was
prepared for the Year 2000 Issue.  The Company and FMC did not  experience,  and
through January of 2000 has not  experienced,  any material  problems related to
the  processing  of date data related to the change from 1999 to 2000 by its own
proprietary software or any other software or systems that the Company uses. The
Company's total costs related to the Year 2000 Issue were not material.

         Based on the lack of problems  experienced by the Company in connection
with the  arrival of the year 2000,  the Company  currently  does not expect any
significant  disruptions in the future as a result of the Year 2000 Issue or the
fact that 2000 is a leap year.  However,  because the  Company's  continued  Y2K
compliance  in calendar  2000 is largely  dependent on the  continued  Year 2000
compliance  of third  parties such as FMC,  there can be no  assurance  that the
Company's  efforts  alone have  resolved  all Year 2000 Issues or that key third
parties  will not  experience  Year 2000  compliance  failures as calendar  2000
progresses.  The Company will  continue to monitor the Company's own systems and
the preparedness of third parties throughout calendar 2000.


                                     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