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 October 31, 2000

                                       OR

             [ ] 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:     0-15976
                       -----------------

                                MULTI SOFT, INC.
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

           NEW JERSEY                                             22-2588030
-------------------------------                              -------------------
(State or other jurisdiction of                               (I.R.S. Employer
 incorporation or organization)                              Identification No.)

              4262 US Route 1, Monmouth Junction, New Jersey 08852
              ----------------------------------------------------
                    (Address of principal executive offices)

Issuer's telephone number, including area code: (732) 329-9200
                                                --------------

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days.

                               Yes [X]     No [ ]

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
Common Stock, as of the latest practicable date.

         Class                                   Outstanding at October 31, 2000
-----------------------                          -------------------------------
Common Stock, par value                                       13,709,477
    $.001 per share

Transitional Small Business Format (check one);  Yes [ ]   No [X]

                                        1
<PAGE>

PART I.   FINANCIAL INFORMATION
-------------------------------

ITEM 1.   FINANCIAL STATEMENTS
          --------------------

The accompanying financial statements are unaudited for the interim periods, but
include all adjustments  (consisting only of normal recurring accruals) which we
consider  necessary  for the fair  presentation  of our results for the nine and
three months ended October 31, 2000.

Moreover,  these  financial  statements  do  not  purport  to  contain  complete
disclosure in conformity  with  generally  accepted  accounting  principles  and
should be read in conjunction with our audited financial  statements at, and for
the fiscal year ended January 31, 2000.

The results  reflected  for the nine and three months ended October 31, 2000 are
not necessarily indicative of the results for the entire fiscal year.

                                        2
<PAGE>

MULTI SOFT, INC.
a 51.3% owned subsidiary of Multi Solutions, Inc.
BALANCE SHEETS
October 31, 2000 and  January 31, 2000
           (Unaudited)

                                                   October 31,      January 31,
                                                      2000             2000
                                                  ------------     ------------
ASSETS
CURRENT ASSETS
     Cash                                         $      5,967     $     13,205
     Accounts Receivable (net of allowance
        of $37,486 and $37,486 respectively             59,470          139,610
     Prepaid expenses and other current assets          22,338           44,991
                                                  ------------     ------------
                                                        87,775          197,806

FURNITURE AND EQUIPMENT
     Research and Development Equipment                  8,869            8,868
     Office furniture and other equipment               22,867           13,824
                                                  ------------     ------------
                                                        31,736           22,692
     Less: Accumulated Depreciation                    (18,423)         (15,439)
                                                  ------------     ------------
                                                        13,313            7,253

OTHER ASSETS
     Capitalized software development costs          1,458,403        1,371,387
     Less accumulated amortization                    (847,971)        (712,776)
                                                  ------------     ------------
                                                       610,432          658,611

     Due from Multi Solutions, Inc                     365,255          448,039
     Due from Freetrek, Inc.                             1,446
     Due from NetCast, Inc.                            234,592          234,592
                                                  ------------     ------------

                                                  $  1,312,813     $  1,546,301
                                                  ============     ============

                                        3
<PAGE>

MULTI SOFT, INC.
a 51.3 % owned subsidiary of Multi Solutions, Inc.
BALANCE SHEETS
October 31, 2000 and January 31, 2000
           (Unaudited)

<TABLE>
<CAPTION>
                                                          October 31,      January 31,
                                                             2000             2000
                                                         ------------     ------------
LIABILITIES AND STOCKHOLDERS'
DEFICIENCY
CURRENT LIABILITIES
<S>                                                      <C>              <C>
     Accrued payroll                                     $     14,783     $     14,783
     Payroll and other taxes payable                           17,623           19,048
     Accounts Payable, Accrued expenses and
        other Current Liabilities                              32,372           50,215
     Accrued officer compensation                             143,042          161,390
     Deferred Revenues                                         64,800          127,532
                                                         ------------     ------------
                                                              272,620          372,968

     Deferred compensation due officer /shareholders          586,605          586,605

STOCKHOLDERS' DEFICIENCY
     Common stock, authorized 30,000,000 shares
        $.001 par value, issued and outstanding
        13,709,477respectively                                 13,709           13,709
     Additional paid-in capital, net of deferred
        compensation $18,750 and $25,257 respectively       6,036,158        6,013,964
     Accumulated deficit                                   (5,596,279)      (5,440,945)
                                                         ------------     ------------
                                                              453,588          586,728

                                                         $  1,312,813     $  1,546,301
                                                         ============     ============
</TABLE>

                                        4
<PAGE>

MULTI SOFT, INC
a 51.3% owned subsidiary of Multi Solutions, Inc.
STATEMENTS OF OPERATIONS
Nine and Three months ended October 31, 2000 and 1999
           (Unaudited)

<TABLE>
<CAPTION>
                                                          Nine Months Ended               Three Months Ended
                                                              October 31,                     October 31,
                                                        2000             1999            2000             1999
                                                    ------------     ------------    ------------     ------------
REVENUES
<S>                                                 <C>              <C>             <C>              <C>
      License fees                                  $     34,337     $     94,284    $     19,855     $     18,185
      Maintenance fees                                   120,101          357,901           2,547          126,292
      Consulting and Other fees                          384,213          191,353         126,944           80,457
                                                    ------------     ------------    ------------     ------------

           Total revenues                                538,651          643,538         149,346          224,934

EXPENSES
      Software development and technical support         315,712          171,178         100,855           56,793
      Selling and administrative                         379,824          446,395         128,365          147,328
                                                    ------------     ------------    ------------     ------------

           Total expenses                                695,536          617,573         229,220          204,121
                                                    ------------     ------------    ------------     ------------

           Net income (loss)                        ($   156,885)    $     25,965    ($    79,874)    $     20,813
                                                    ============     ============    ============     ============

           Weighted average shares outstanding        13,709,477       13,509,473      13,709,477       13,509,473
                                                    ============     ============    ============     ============

           Income (Loss)  per share                      (a)              (a)             (a)              (a)
                                                    ============     ============    ============     ============
</TABLE>

      (a)  less than $.01 per share

                                        5
<PAGE>

MULTI -SOFT, INC.
a 51.3 % owned subsidiary of Multi Solutions, Inc.
STATEMENTS OF CASH FLOWS
Nine Months ended October 31, 2000 and October 31, 1999
           (Unaudited)

<TABLE>
<CAPTION>
                                                                         October 31,
                                                                    2000             1999
                                                                ------------     ------------
Cash flows from operating activities
<S>                                                             <C>              <C>
      Net income (loss)                                         ($   156,885)    $     25,965
      Adjustments to reconcile net income  to net cash
           provided by operating activities
      Depreciation and amortization                                  138,179          172,656
      Changes in assets and liabilities
           Due to / from Multi Solutions                              82,784               --
           Due to / from Freetrek                                     (1,446)              --
           Accounts receivable                                        80,140          (88,052)
           Prepaid expenses and other current assets                  22,653            3,710
           Accrued payroll                                                --           18,359
           Payroll and other taxes payable                            (1,425)          (7,188)
           Accounts payable and accrued expenses                     (16,292)         (29,152)
           Accrued officer compensation                              (18,348)          88,333
           Deferred revenues                                         (62,732)         (18,795)
                                                                ------------     ------------

                  Net cash provided  by operating activities          66,628          165,836

Cash flows from investing activities
      Capital expenditures                                            (9,044)
      Capitalized software development costs                         (87,016)        (182,784)
                                                                ------------     ------------

                  Net cash used in investing activities              (96,060)        (182,784)

Cash flows from financing activities
      Net repayments under loan and line of credit ageements              --             (796)
      Amortization of Stock Grants                                    22,194           20,187
                                                                ------------     ------------

                  Net cash provided  by financing activities          22,194           19,391
                                                                ------------     ------------

                  NET INCREASE (DECREASE) IN CASH                     (7,238)           2,443

Cash at beginning of year                                             13,205           18,134
                                                                ------------     ------------

Cash at end of period                                           $      5,967     $     20,577
                                                                ============     ============
</TABLE>

                                        6
<PAGE>

MULTI SOFT, INC.
NOTE TO FINANCIAL STATEMENTS
October 31, 2000
(Unaudited)

RECLASSIFICATION OF OTHER INCOME TO REVENUE FROM CONSULTING AND OTHER FEES

Consulting,  rent and  administrative  fees charged to  FreeTrek.Com,  Inc.,  an
affiliate, were reflected on prior financial statements as "Other Income" in the
category  "Other Income  (Expense)" on the Statement of  Operations.  During the
nine and three months ended  October 31, 2000,  these fees have been included in
"Consulting  and Other Fees" in the  "Revenues"  category on the  Statements  of
Operations.  For purposes of  comparison,  the  Statements of Operations for the
nine and three months ended October 31, 1999 have been restated accordingly.

                                       7
<PAGE>

ITEM 2.   MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION  AND
          ----------------------------------------------------------------------
RESULTS OF OPERATIONS
---------------------

CAUTIONARY STATEMENT
--------------------

     This  quarterly  report on form  10-QSB  contains  certain  forward-looking
statements  regarding,   among  other  things,  our  anticipated  financial  and
operating  results.  For  this  purpose,   forward-looking  statements  are  any
statements  contained in this report that are not statements of historical  fact
and  include,  but are not limited  to,  those  preceded by or that  include the
words,  "believes," " expects," or similar  expressions.  In connection with the
safe harbor provisions of the Private Securities  Litigation Reform Act of 1995,
we are including this cautionary  statement  identifying  important factors that
could cause our or our  affiliates'  actual  results to differ  materially  from
those  projected  in forward  looking  statements  made by, or on behalf of, us.
These  factors,  many of which are  beyond  our  control  or the  control of our
affiliates, include our ability to:

     o  continue to receive royalties from our existing licensing and consulting
        arrangements,
     o  develop additional marketable software and technology,
     o  compete with larger, better capitalized competitors and
     o  reverse ongoing liquidity and cash flow problems.

Results of Operations
---------------------

Nine months ended  October 31, 2000  compared to Nine months  ended  October 31,
--------------------------------------------------------------------------------
1999 and Three  months  ended  October 31, 2000  compared to Three  months ended
--------------------------------------------------------------------------------
October 31, 1999
----------------

We generated  revenues  during the nine months ended October 31, 2000, the first
nine months of our fiscal year ending January 31, 2001, of $538,651  compared to
revenues of $643,538  during the first nine  months of fiscal  2000.  We believe
that the decrease of $104,887,  or  approximately  16.3%, was due primarily to a
decrease in our  license and  maintenance  fees offset in part by  increases  in
consulting fees, primarily to our affiliate,  Freetrek.Com.  License fee revenue
decreased  $59,947,  or  approximately  63.6%,  and  maintenance  fees decreased
$237,800,  or approximately  66.4%.  Consulting and other fees, primarily to our
affiliate, Freetrek. Com, increased $192,860, or approximately 100.8%.

We generated revenues during the three months ended October 31, 2000 of $149,346
compared to revenues of $224,934  during the third  quarter of fiscal  2000.  We
believe  that the overall  decrease in  revenues  of $75,588,  or  approximately
33.6%, was primarily due to a decrease in revenues from maintenance fees, offset
in part by an increase in license fees and an increase in  consulting  and other
fees,  primarily to our affiliate  Freetrek.Com.  License fee revenues increased
$1,670, or approximately

                                       8
<PAGE>

9.2%,   maintenance  fees  decreased  $123,745,   or  approximately  98.0%,  and
consulting and other fees increased $46,487 or approximately 57.8%.

Please  note  that  we  have  included   income  derived  from   consulting  and
administrative  charges to our affiliate  Freetrek.Com in the amount of $345,433
and $113,509 in revenues  for the nine and three months ended  October 31, 2000,
respectively.  Previously this income was reported as Other Income in the Income
Statement.  We have restated our Statement of Operations  for the nine and three
months  ended  October  31,  1999 to reflect  this  change.  As a result of this
restatement,  income  derived  from  consulting  and  administrative  charges to
Freetrek.  Com in the amount of $96,739 and $36,147 are included in revenues for
the nine and three months ended October 31, 1999, respectively.

Our principal  sources of revenues were  maintenance  fees and  consulting  fees
which  represented  approximately  93.6% or $504,314  of  revenues  for the nine
months ended  October 31, 2000 and  approximately  85.4% or $549,254 of revenues
for the nine months ended October 31, 1999. Maintenance fees and consulting fees
represented  approximately  86.7% or $129,491 of revenues  for the three  months
ended October 31, 2000 and  approximately  91.9% or $206,749 for the nine months
ended October 31, 1999.

We believe that the overall  decrease in licensing  fees was due  primarily to a
reduction in software  sales.  We believe that the decrease in maintenance  fees
was due to the  non-renewal  of older  maintenance  contracts by  customers.  We
believe  that the increase in  consulting  and other fees was due to charges for
consulting and administrative fees to our affiliate Freetrek.Com.

See the discussion below under "Major Customers."

Our operating  expenses were $695,536 for the nine months ended October 31, 2000
compared to $617,573 for the  comparable  nine month  period of fiscal 2000,  an
increase of $77,963 or approximately 12.6%. Our operating expenses for the three
months  ended  October 31,  2000 were  $229,220  compared  to  $204,121  for the
comparable  three  months  ended  October  31,  1999,  an increase of $25,099 or
approximately  12.3%. We believe that the increase was a result of higher levels
of  software  development  costs  related  to both  consulting  and new  product
development  offset in part by a reduction in selling and  administrative  costs
charged to operations  for the nine month and three month periods ending October
31, 2000 compared to the nine month and three month periods  ending  October 31,
1999.

As a result of all of the  foregoing,  we incurred a net loss for the first nine
months of fiscal  2001 of  $156,885  compared  to net income of $25,965  for the
first nine months of fiscal 2000, a decrease of $182,850. We incurred a net loss
of $79,874 for three  months  ended  October 31, 2000  compared to net income of
$20,813 for the three months ended October 31, 1999, a decrease of $100,687.

Major Customers
---------------

In the first  nine  months  of fiscal  2000,  IBM  accounted  for 16.2% of total
revenues.  During fiscal 2001, IBM has not accounted for any revenues.  The loss
of  revenues  from IBM has had a  materially  adverse  effect  on our  financial
condition. We have offset the loss of revenues from IBM with revenues

                                       9
<PAGE>

generated  from our  affiliate,  FreeTrek,  for work  related  to the  prior and
ongoing  development,   maintenance  and  enhancement  of  FreeTrek's  products.
However,  FreeTrek is a development  stage company and, although it is marketing
its  products  and  services,  it has yet to make its first  sale.  Fees paid by
FreeTrek  have  come from the  proceeds  of  private  placements  of  FreeTrek's
securities and of Multi Solutions' securities. If FreeTrek is unable to generate
substantial  revenues or continue to raise funds,  revenues  received by us from
FreeTrek most likely will decrease and eventually cease.

Liquidity and Capital Resources
-------------------------------

At October 31, 2000, we had a negative  working  capital  position of ($184,845)
compared to a negative  working  capital  position of  ($175,162) on January 31,
2000. We continue to experience significant cash flow problems.

     We have taken various step to correct this situation, including:

     o  extending our product line to operate within the internet environment;
     o  performing  work for our affiliate,  FreeTrek,  related to the prior and
        ongoing development, maintenance and enhancement of FreeTrek's products:
        and
     o  performing contract consulting services for others.

We intend to remain a  technology  provider of products  and services and search
out multiple distribution  channels,  with increasing emphasis on the use of the
Internet  for  marketing,  rather than to try and grow via an  expensive  direct
sales force.  This allows the focus to stay on  technology,  with a low overhead
cost for each distribution  channel used. However, if we obtain additional funds
from operations or otherwise, we plan to expand in-house marketing activities by
advertising in trade publications and by conducting targeted mailing.

Working Capital and Current Ratios:
-----------------------------------

     Descriptions             October 31, 2000         January 31, 2000
     ------------------------------------------------------------------

     Working capital
     (deficiency)                ($184,845)                ($175,162)

     Current ratios                0.32:1                   0.53:1

                                       10
<PAGE>

Dividend Policy
---------------

We have not declared or paid any  dividends on our common stock since  inception
and we do not  anticipate  that we will  declare  or pay cash  dividends  in the
foreseeable  future.  We intend to  retain  earnings,  if any,  to  finance  the
development  and  expansion  of our  business.  Future  dividend  policy will be
subject to the discretion of the board of directors and will be contingent  upon
future earnings, if any, our financial condition, capital requirements,  general
business  conditions  and  other  factors.  Therefore,  we  cannot  assure  that
dividends of any kind will ever be paid.

Effect of Inflation
-------------------

We believe that  inflation has not had a material  effect on our  operations for
the periods presented.

                                       11
<PAGE>

PART II - OTHER INFORMATION
---------------------------

Item 1.   Legal Proceedings
          -----------------

          None.

Item 2.   Changes in Securities and Use of Proceeds
          -----------------------------------------

          None.

Item 3.   Defaults Upon Senior Securities
          -------------------------------

          None.

Item 4.   Submission of Matters to a Vote of Security Holders
          ---------------------------------------------------

          None.

Item 5.   Other Information
          -----------------

          None.

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

          (a)  Exhibits

               27.  Financial Data Schedule

          (b)  Reports on Form 8-K

               None.

                                       12
<PAGE>

                                   SIGNATURES
                                   ----------

Pursuant to the  requirements  of the  Securities  and Exchange Act of 1934, the
registration  has duly  caused  this  report to be  signed on its  behalf by the
undersigned thereunto duly authorized.

                               MULTI SOFT, INC.

Dated: December 11, 2000       By: /s/ Charles J. Lombardo
                                   ---------------------------------------------
                                   Charles J. Lombardo, Chief Executive Officer,
                                   Chief Financial Officer and Treasurer

                                       13