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 March 2000

      [   ]   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
                                     L4W 4Y8
                    (Address of Principal Executive Offices)

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

               (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    X        No
                              -----         -----

         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
                                 March 31, 2000

                         PART I - FINANCIAL INFORMATION

Item 1.    Financial Statements

           Unaudited Consolidated Balance Sheet as of March 31, 2000

           Unaudited Consolidated Interim Statement of Loss and Deficit for the
           three and nine months ended March 31, 2000 and March 31, 1999

           Unaudited Consolidated Interim Statement of Cash Flow for the three
           and nine months ended March 31, 2000 and 1999

           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
                                 March 31, 2000
                           (Expressed in U.S. Dollars)

                                         March 31, 2000           June 30, 1999
                                         --------------           -------------
Assets

Current Assets:
Cash                                     $      31,081            $      31,058
Due from Related Party                         205,050                  205,050

       Total current assets              $     236,131            $     236,108
                                         =============            =============


Liabilities:

Current Liabilities:

Accounts payable and accrued
  liabilities                            $      27,000            $      40,000

       Total current liabilities                27,000                   40,000

Due to Related Parties                         432,184                  406,208

       Total liabilities                       459,184                  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                         (3,601,277)              (3,588,323)
                                         -------------            -------------

       Total shareholder equity               (223,054)                (210,100)
                                         -------------            -------------

       Total liabilities and
         shareholder equity              $     236,131            $     236,108
                                         =============            =============


<PAGE>

<TABLE>
<CAPTION>

                        UNAUDITED CONSOLIDATED STATEMENT
                               OF LOSS AND DEFICIT
       For the Three Months and Nine Months ended March 31, 2000 and 1999
                           (Expressed in U.S. Dollars)


                           Nine Months          Nine Months          Three Months          Three Months
                              Ended                Ended                 Ended                 Ended
                            March 31,            March 31,             March 31,             March 31,
                              2000                 1999                  2000                  1999
                           (Unaudited)          (Unaudited)           (Unaudited)           (Unaudited)
                           ----------           -----------          ------------           -----------
<S>                    <C>                  <C>                   <C>                   <C>

Revenue                    $          --        $     141,069         $          --         $      54,112
Cost of sales                         --               22,715                    --                 5,330
                               ---------           ----------            ----------            ----------
                                      --              118,354                    --                48,781

Selling, general and
     administrative costs         12,954              361,758                12,954               121,357
Gain on sale of
     subsidiary                       --             (110,077)                   --              (110,077)
Development costs                      0               36,602                     0                13,767
                                --------            ---------            ----------            ----------

Net loss                   $     (12,954)       $    (169,929)        $     (12,954)        $      23,745

Deficit beginning of
     period                $  (3,588,323)       $  (3,293,050)        $  (3,588,323)        $  (3,486,723)

Deficit end of period         (3,601,277)          (3,462,979)           (3,601,277)           (3,462,979)

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

Weighted average shares
of outstanding common
stock and equivalent          22,383,115           15,313,115            22,383,115            16,090,893

</TABLE>


<PAGE>

<TABLE>
<CAPTION>

                         UNAUDITED CONSOLIDATED INTERIM
                      STATEMENT OF CASH FLOW For the Three
                  and Nine months ended March 31, 2000 and 1999


                                     Nine months        Nine months       Three months     Three months
                                        ended              ended              ended            ended
                                      March 31,          March 31,          March 31,        March 31,
                                        2000               1999               2000             1999
                                     -----------        -----------       ------------     ------------
<S>                              <C>               <C>                 <C>               <C>

Cash provided (used) by

Operating Activities
    Net income (loss) for period   $     (12,954)     $   (169,929)        $   (12,954)      $    23,745

    Items not involving cash
       Amortization                           --           152,857                  --            79,780
       Gain on sale of subsidiary             --          (110,077)                 --          (110,077)

Increase (decrease) in:
    Accounts payable and
      accrued liabilities                (13,000)         (378,592)            (13,000)         (134,756)
    Due from Related Party                    --          (205,050)                 --          (205,050)
    Due to Related Parties                25,976           426,208              25,976            78,756
                                    ------------       -----------          ----------         ---------
                                              23          (284,583)                 23          (267,602)


Financing activities
    Note payable financing
      repaid                                  --           (14,768)                 --                --
    Repayment of obligations
      under capital lease                     --              (744)                 --                --
    Issuance of share capital
       and subscription                       --           140,000                  --                --
                                    ------------       -----------          ----------         ---------

                                              --           124,488                  --                --

Investing activities
    Proceeds on sale of
       PowerTrader Software Inc.              --           205,050                  --           205,050
                                    ------------       -----------          ----------         ---------
                                              --           205,050                  --           205,050

Increase (decrease) in cash                   23            44,955                  23           (62,552)
    Cash, beginning of period             31,058             6,000              31,058           113,507
                                   -------------      ------------         -----------       -----------

    Cash, end of period            $      31,081      $     50,955         $    31,081       $    50,955
                                   =============      ============         ===========       ===========
</TABLE>


<PAGE>


                                POWERTRADER, INC.
                          (A Development Stage Company)

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                           (Expressed in U.S. Dollars)
                                 March 31, 2000

NOTE A:  The  accompanying   unaudited   consolidated  financial  statements  of
         PowerTrader,  Inc. as of and for the three months and nine months ended
         March 31, 2000 and March 31, 1999 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, 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  PowerTrader,  Inc.  (the  "Company")  designed,
         developed, marketed and supported informational and analytical 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:

                                                 2000                      1999
                                               ------                    ------
         Average                               1.4535                    1.5175
         As of March 31                        1.4606                    1.5092

<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  that  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  advisors,  trust  companies and  individual  investors.  The
Company has since  concentrated,  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 US$0.01 per share,  the market price of the Company's
Common Stock on such date, to FMC in exchange for US$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
US$0.01 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 500 clients  world-wide  with total assets under
management in excess of $3 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.

In  accordance  with the  aforesaid  agreement,  FMC  delivered to the Company a
commercial  version  of the  DataMill  software  that has been  undergoing  beta
testing with FMC's subsidiary  Securities  Valuation Company Inc., since January
2000. In addition, the Company is investigating the market viability of DataMill
to determine  the  saleability  of DataMill as a  stand-alone  software  product
and/or as an engine  for an  Internet-based  quote and news  service  that could
include Web-based design, construction and hosting.

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 nine month  period  ended March 31,
2000, as compared to $141,069 for the same period in 1999. Similarly,  there was
no revenue  during the three month period  ended March 31, 2000,  as compared to
$54,112 during the comparable  period in 1999. 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.
FMC delivered a commercial  beta version of the DataMill  software at the end of
the  second  quarter of the  current  fiscal  year and the beta  testing of that
commercial version continues.

Cost of Sales

No Cost of Sales was  recorded  for  either  the nine  month or the three  month
period  ended  March 31,  2000 as  compared  to $22,715  and $5,330 for the same
periods,  respectively,  in 1999. 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

Selling,  General and Administrative  Costs ("SGA") of $12,954 were recorded for
both the nine month and the three month period ended March 31, 2000, compared to
$361,758  and  $121,357,  respectively,  in the same nine month and three  month
period in 1999.  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 most of
the expenses  recorded as SGA Costs were assumed by FMC. The SGA Costs  incurred
for the  period  represent  professional  fees  paid for  accounting  and  legal
services in connection with the completion of the Company's filings.

Development Costs

No  Development  Costs were  recorded  for the nine months and the three  months
ended  March 31,  2000,  compared  to $36,602  and $13,767 for the same nine and
three month periods in 1999.  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. The Company is not
incurring  further  development  costs  at this  time,  pending  results  of its
marketing investigation (see Overview, above).

Net Loss

As a result of the foregoing, the Company experienced net losses for the quarter
ending  March 31, 2000 of $12,954,  as compared to a net gain of $23,745 for the
comparable  period in 1999. The gain was attributable to the sale of PowerTrader
Software Inc. to FMC. The  aggregate net loss for the first nine months,  ending
March 31, 2000 is $12,954,  as compared to $169,929 for the same period in 1999.
With  the  receipt  of the  prototype  version  of  DataMill  and the  Company's
investigation  of the  potential  market  for  DataMill,  the  Company  believes
additional  research  and  development  expense may be incurred in the future to
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 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, totaling in
the aggregate $432,184,  which have been used to retire outstanding indebtedness
owed to the Company's  suppliers,  fund ongoing research and development and pay
legal and  accounting  fees to complete the Company's  financial  statements and
filings.  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

The  Company  has not  experienced  any Year  2000  problems  with  its  current
products,  or its  suppliers,  in the ability to accurately  process dates which
include the Year 2000 or the leap year calculations associated with February 29,
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:     May  15, 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