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, 1999

                                       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, 1999
-----------------------                          -------------------------------
Common Stock, par value                                     13,509,473
    $.001 per share

<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  management  considers  necessary for the fair  presentation of
results for the nine and three months ended October 31, 1999.

     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 the Company's  audited  financial  statements
at, and for the fiscal year ended January 31, 1999.

     The results  reflected for the nine and three months ended October 31, 1999
are not necessarily indicative of the results for the entire fiscal year.

<PAGE>

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

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

Nine months ended  October 31, 1999  compared to Nine months  ended  October 31,
--------------------------------------------------------------------------------
1998 and three  months  ended  October,  1999  compared  to three  months  ended
--------------------------------------------------------------------------------
October, 31 1998
----------------

Revenues  for the current nine months of fiscal year 1999  decreased  $98,393 or
15%  compared  with the  comparable  period of the prior year.  Revenues for the
three month period  ending  October 31, 1999  decreased  $63,187 or 25% compared
with the comparable  period of the prior year. The overall  decrease in revenues
for the current nine month period is  attributable  to a decrease in maintenance
and sales  revenue  during the current  nine month  period.  This was  partially
offset by an increase in Consulting and Other Fees.

Operating  expenses for the current nine month period increased $4,797 or (1.0%)
compared with the comparable period of the prior year. Operating expense for the
three month period ending October 31, 1999 increased $13,689 or 7% compared with
the prior year. The increase in the nine month and three month period was due to
the  Software  Development  that  Multi  Soft is  amortizing  that was not being
amortized  in the prior  period.  The  decrease  in Selling  and  Administration
expense is due to the reduction of certain expenses such as legal fees,  outside
marketing and a reduction in staff from the prior period to the current period.

Operating  Loss,  before  other  (expense) of $70,744 for the current nine month
period increased $103,190 compared with the comparable period of the prior year.
Operating  Loss,  before other income  (expense)  $15,334 for the current  three
month increased  $76,876 compared with comparable  period of the prior year. The
reason  for  this  increase  in  the  nine  month  period   operating   loss  is
cancellations  in  maintenance  coupled with a decrease in sales for the current
nine month period.

Other Income (expense) for the current nine month period was $96,739 as compared
with  $74,489  for the  comparable  period of the prior  year.  The  increase is
attributable  to services  rendered from Multi Soft to a new Subsidiary of Multi
Solutions.

For the current  nine month  period , net income of $25,965 or ($.00)  cents per
share was  incurred  compared  with a net income of $106,244 or ($.00) cents per
share an decrease of $80,279. For the current three month period, a

<PAGE>

net income of $20,813 or .00 cents per share was incurred  compared  with income
of $92,021 in the comparable period for the prior year, an decrease of $71,208.

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

     In the  first  nine  months  of 1999,  IBM  accounted  for  16.24% of total
revenues. In the first nine months of 1998, IBM accounted for 19.75%.

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

     At October 31, 1999, the Company had a negative working capital position of
($256,068); and has been experiencing cash flow problems.

     Management of Multi Soft has taken various steps to correct this situation.
Overhead  costs have been cut  drastically  as a result of staff  reductions and
curtailment of many outside marketing and advertising costs. In addition, senior
staff  salaries  were  reduced  and  executive  officers'  salaries  were partly
deferred.  Secondly,  Multi Soft  broadened its product base into the Windows NT
environment and has made its Windows based products easier to learn and use.

In September 1994, Multi Soft entered into an International  Software  Licensing
Agreement  with IBM's Personal  Communications  3270 division  ("P-Comm").  This
agreement  allows IBM to logo and market a P-Comm  specific  version of both the
Toolkit and Runtime of Multi Soft's WCL. Pursuant to this agreement, the Company
will  receive  a  minimum  of  $75,000  per  quarter  over  a  two  year  period
representing minimum advances against royalties. This IBM agreement is effective
for a term of two years and is renewable  by IBM for two more one year  periods.
The  Agreement  is  terminable  by the Company or IBM upon 90 days notice in the
event of a default by the other party.  As of November  1996,  the contract with
IBM was  extended  for two more  years and IBM is  paying  the  Company  monthly
maintenance  and royalties.  As of the date of 1/31/99 the contract with IBM was
extended for one year and IBM is paying Multi Soft  monthly  maintenance.  As of
this  date,  the  Company  can  make  no  assurances  that  the   aforementioned
maintenance agreement will be extended beyond the present term of 1/31/2000.

     It is Multi Soft's  intent to remain a  technology  provider and search out
multiple  distribution  channels,  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 the  Company
obtains  additional  funds  from  operations  or  otherwise,  it plans to expand
in-house  marketing  activities  by  advertising  in trade  publications  and by
conducting targeted mailing.

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

     Multi Soft has not declared or paid any dividends on its common stock since
its  inception  and does not  anticipate  the  declaration  or  payment  of cash
dividends in the foreseeable future. The Company intends to retain earnings,  if
any, to finance the development  and expansion of its business.  Future dividend
policy will be subject to the  discretion  of the Board of Directors and will be
contingent  upon future  earnings,  if any, the Company's  financial  condition,
capital requirements,  general business conditions and other factors. Therefore,
there can be no assurance that dividends of any kind will ever be paid.

<PAGE>

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

     Management  believes that  inflation  has not had a material  effect on its
operations for the periods presented.

Cautionary Statement
--------------------

     This Form 10-KSB contains  certain  forward-looking  statements  regarding,
among other things,  the  anticipated  financial  and  operating  results of the
company.  For  this  purpose,  forward-looking  statements  are  any  statements
contained herein that are not statements of historical fact and include, but are
not  limited  to,  those  preceded  by or that  include  the words,  "believes,"
"expects,"  "anticipated," or similar  expressions.  In connection with the safe
harbor provisions of the Private  Securities  Litigation Reform act of 1995, the
Company is including this cautionary  statement  identifying  important  factors
that could cause the company's  actual results to differ  materially  from those
projected in forward  looking  statements made by, or on behalf of, the company.
These  factors,  many of which are beyond the control of the company and include
the  Company's  ability to, (I) continue as a going  concern,  (ii)  continue to
receive royalties from its existing  licensing and consulting  arrangements(iii)
develop additional marketable software and technology, (iv) compete with larger,
better  capitalized  competitors,  and reverse  ongoing  liquidity and cash flow
problems.

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

Item 6.   Exhibits and Reports on Form 8-K

          (a)  Exhibits

               27.  Financial Data Schedule

          (b)  Reports on Form 8-K

<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 10, 1999
                               By:______________________________
                                  Charles J. Lombardo, Chief Executive Officer,
                                  Chief Financial Officer and Treasurer

<PAGE>

MULTI SOFT, INC.
52% owned subsidiary of Multi Solutions, Inc.
BALANCE SHEETS
October 31, 1999 and  JANUARY 31, 1999

                                                       31-Oct         31-Jan
                                                        1999            1999
                                                    -----------     -----------
ASSETS
CURRENT ASSETS
     Cash                                           $    20,577     $    18,134
     Accounts Receivable (net of allowance
      of $43,783 and $43,783 respectively)              218,708         130,656
     Prepaid expenses and other current assets            9,675          13,385
                                                    -----------     -----------
                                                        248,960         162,175
FURNITURE AND EQUIPMENT
     Research and Development Equipment                   8,869           8,868
     Office furniture and other equipment                13,824          13,824
                                                    -----------     -----------
                                                         22,692          22,692
     Less: Accumulated Depreciation                     (14,524)        (12,250)
                                                    -----------     -----------
                                                          8,168          10,442
OTHER ASSETS
     Capitalized software development costs           1,318,651       1,460,178
     Less accumulated amortization                     (655,986)       (809,915)
                                                    -----------     -----------
                                                        662,665         650,263

     Due from Solutions                                 448,039         448,039
     Due from NetCast                                   234,593         234,592
                                                    -----------     -----------

                                                    $ 1,602,425     $ 1,505,511
                                                    ===========     ===========

<PAGE>

MULTI SOFT, INC.
52 % owned subsidiary of Multi Solutions, Inc.
BALANCE SHEETS
October  31 , 1999 and JANUARY 31, 1999

<TABLE>
<CAPTION>
                                                           31-Oct          31-Jan
LIABILITIES AND STOCKHOLDERS'                               1999            1999
                                                        -----------     -----------
DEFICIENCY
CURRENT LIABILITIES
<S>                                                     <C>             <C>
     Loan payable to bank                               $        --     $       796
     Note Payable                                             6,565           6,565
     Accrued payroll                                         18,359              --
     Payroll and other taxes payable                         12,292          19,480
     Accounts Payable, Accrued  expenses and
            other  Current Liabilities                       57,568          86,720
     Accrued officer compensation                           241,390         153,057
     Deferred Revenues                                      168,853         187,648
                                                        -----------     -----------
                                                            505,028         454,266

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

STOCKHOLDERS' DEFICIENCY
     Common stock, authorized 30,000,000 shares
      $.001 par value, issued and outstanding
      13,509,473 (1999) and 13,509,473 (1999)                13,509          13,509
     Additional paid-in capital, net of deferred
      compensation $27,907 (1999) and $41,365 (1999)      6,006,243       5,986,056
     Accumulated deficit                                 (5,508,960)     (5,534,926)
                                                        -----------     -----------
                                                            510,792         464,639

                                                        $ 1,602,425     $ 1,505,511
                                                        ===========     ===========
</TABLE>

<PAGE>

MULTI SOFT, INC
52% owned subsidiary of Multi Solutions, Inc.
STATEMENTS OF OPERATIONS
October  31, 1999 and October 1998

<TABLE>
<CAPTION>
                                                          Nine Months Ended                Three Months Ended
                                                               31-Oct                            31-Oct

                                                        1999             1998             1999             1998
                                                    ------------     ------------     ------------     ------------
REVENUES
<S>                                                 <C>              <C>              <C>              <C>
      License fees                                  $     94,284     $    213,866     $     18,185     $    120,226
      Maintenance fees                                   357,901          425,230          126,292          130,652
      Consulting and Other fees                           94,614            6,096           44,310            1,096
                                                    ------------     ------------     ------------     ------------
             Total revenues                              546,799          645,192          188,787          251,974

EXPENSES
      Software development and technical support         171,178          147,661           56,793           55,351
      Selling and administrative                         446,395          465,115          147,328          135,081
                                                    ------------     ------------     ------------     ------------

             Total expenses                              617,573          612,776          204,121          190,432
                                                    ------------     ------------     ------------     ------------

             Income  (Loss)  from operations             (70,774)          32,416          (15,334)          61,542

OTHER INCOME (EXPENSE)
      Other Revenues                                      96,739           74,849           36,147           30,612
      Interest Expense                                    (1,021)            (133)
                                                    ------------     ------------     ------------     ------------
             Total other income                           96,739           73,828           36,147           30,479

             Net Income (Loss)                      $     25,965     $    106,244     $     20,813     $     92,021
                                                    ============     ============     ============     ============

             Weighted average shares outstanding      13,509,473       12,020,106       16,509,473       12,112,206
                                                    ============     ============     ============     ============

             Income (Loss)  per share               $       0.00     $       0.01     $       0.00     $       0.01
                                                    ============     ============     ============     ============
</TABLE>

<PAGE>

MULTI -SOFT, INC.
52 % owned subsidiary of Multi Solutions, Inc.
STATEMENTS OF CASH FLOWS
October 31 , 1999 and October  31, 1998

<TABLE>
<CAPTION>
                                                                           31-Oct        31-Oct
                                                                            1999          1998
                                                                         ---------     ---------
Cash flows from operating activities
<S>                                                                      <C>           <C>
      Net Income                                                         $  25,965     $ 106,244
      Adjustments to reconcile net income  to net cash
           provided by operating activities
      Depreciation and amortization                                        172,656       150,471
      Changes in assets and liabilities
              Due to / from Multi Solutions                                     --       (59,842)
              Due to/ from NetCast                                              --          (800)
              Accounts receivable                                          (88,052)      (51,051)
              Prepaid expenses and other current assets                      3,710       (36,200)
              Accrued payroll                                               18,359        51,499
              Note Payable                                                      --       (11,172)
              Payroll and other taxes payable                               (7,188)        6,646
              Accounts payable and accrued expenses                        (29,152)       (4,774)
              Accrued officer compensation                                  88,333        87,498
              Deferred revenues                                            (18,795)      (65,987)
                                                                         ---------     ---------

                     Net cash provided  by operating activities            165,836       172,532


Cash flows from investing activities
      Capitalized software development costs                              (182,784)     (197,637)
                                                                         ---------     ---------

                     Net cash used in investing activities                (182,784)     (197,637)


Cash flows from financing activities
      Net repayments under loan and line of credit ageements                  (796)      (11,164)
      Stock issued                                                             304
      Amortization of Stock Grants                                          20,187         8,889
                                                                         ---------     ---------


                     Net cash provided (used) by financing activities       19,391        (1,971)

                                                                         ---------     ---------

                     NET INCREASE (DECREASE) IN CASH                         2,443       (27,076)

Cash at beginning of year                                                   18,134        29,093
                                                                         ---------     ---------

Cash at end of period                                                    $  20,577     $   2,017
                                                                         =========     =========
</TABLE>