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 July 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: (908) 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 July 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 six and three months ended July 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 six and three months ended July 31, 1999 are
not necessarily indicative of the results for the entire fiscal year.

<PAGE>

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

                                                       31-Jul          31-Jan
                                                        1999            1999
                                                    -----------     -----------
ASSETS
CURRENT ASSETS
     Cash                                           $        --     $    18,134
     Accounts Receivable (net of allowance
      of $43,783 and $43,783 respectively)              206,835         130,656
     Prepaid expenses and other current assets            9,675          13,385
                                                    -----------     -----------
                                                        216,510         162,175
FURNITURE AND EQUIPMENT
     Research and Development Equipment                   8,868           8,868
     Office furniture and other equipment                13,824          13,824
                                                    -----------     -----------
                                                         22,692          22,692
     Less: Accumulated Depreciation                     (13,787)        (12,250)
                                                    -----------     -----------
                                                          8,905          10,442
OTHER ASSETS
     Capitalized software development costs           1,257,723       1,460,178
     Less accumulated amortization                     (599,192)       (809,915)
                                                    -----------     -----------
                                                        658,531         650,263

     Due from Solutions                                 443,294         448,039
     Due from NetCast                                   234,592         234,592
                                                    -----------     -----------

                                                    $ 1,561,832     $ 1,505,511
                                                    ===========     ===========

<PAGE>

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

<TABLE>
<CAPTION>
                                                           31-Jul          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                                         23,284              --
     Payroll and other taxes payable                         18,785          19,480
     Accounts Payable, Accrued  expenses and
            other  Current Liabilities                       56,116          86,720
     Accrued officer compensation                           191,390         153,057
     Deferred Revenues                                      195,835         187,648
                                                        -----------     -----------
                                                            491,975         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)      5,999,514       5,986,056
     Accumulated deficit                                 (5,529,772)     (5,534,926)
                                                        -----------     -----------
                                                            483,251         464,639

                                                        $ 1,561,832     $ 1,505,511
                                                        ===========     ===========
</TABLE>

<PAGE>

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

<TABLE>
<CAPTION>
                                                          Six Months Ended                 Three Months Ended
                                                               31-Jul                            31-Jul
                                                        1999             1998             1999             1998
                                                    ------------     ------------     ------------     ------------
REVENUES
<S>                                                 <C>              <C>              <C>              <C>
      License fees                                  $     76,099     $     93,639     $     16,375     $     16,257
      Maintenance fees                                   231,609          294,578          118,072          142,314
      Consulting and Other fees                           50,304            5,000           34,786            5,000
                                                    ------------     ------------     ------------     ------------
             Total revenues                              358,012          393,217          169,233          163,841

EXPENSES
      Software development and technical support         114,385           92,310           57,193           46,155
      Selling and administrative                         299,067          330,034          136,512          174,227
                                                    ------------     ------------     ------------     ------------
             Total expenses                              413,452          422,344          193,705          220,382
                                                    ------------     ------------     ------------     ------------

             Income  (Loss)  from operations             (55,440)         (29,127)         (24,472)         (56,541)

OTHER INCOME (EXPENSE)
      Other Revenues                                      60,592           44,237           60,592           24,680
      Interest Expense                                        --             (889)              --             (269)
                                                    ------------     ------------     ------------     ------------
             Total other income
                                                          60,592           43,348           60,592           24,411

             Net Income (Loss)                      $      5,152     $     14,221     $     36,120     $    (32,130)
                                                    ============     ============     ============     ============

             Weighted average shares outstanding      13,509,473       11,974,056       13,509,473       12,167,806
                                                    ============     ============     ============     ============

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

<PAGE>

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

<TABLE>
<CAPTION>
                                                                            31-Jul          31-Jul
                                                                             1999            1998
                                                                         -----------     -----------
Cash flows from operating activities
<S>                                                                      <C>             <C>
      Net Income                                                         $     5,152     $    46,351
      Adjustments to reconcile net income  to net cash
           provided by operating activities
      Depreciation and amortization                                          115,127          47,098
      Changes in assets and liabilities
              Due to / from Multi Solutions                                    4,745            (200)
              Due to/ from NetCast                                                --         (19,500)
              Accounts receivable                                            (76,179)        (73,561)
              Prepaid expenses and other current assets                        3,710         (17,000)
              Accrued payroll                                                 23,284          51,355
              Note Payable                                                        --          (1,790)
              Payroll and other taxes payable                                   (695)        (14,952)
              Accounts payable and accrued expenses                          (30,604)         15,455
              Accrued officer compensation                                    38,333          49,999
              Deferred revenues                                                8,187         (38,356)
                                                                         -----------     -----------
                     Net cash provided  by operating activities               91,060          44,899

Cash flows from investing activities
      Capitalized software development costs                                (121,856)        (73,267)
                                                                         -----------     -----------
                     Net cash used in investing activities                  (121,856)        (73,267)

Cash flows from financing activities
      Net repayments under loan and line of credit ageements                    (796)         (2,728)
      Amortization of Stock Grants                                            13,458           2,003
                                                                         -----------     -----------

                     Net cash provided (used) by financing activities         12,662            (725)
                                                                         -----------     -----------

                     NET INCREASE (DECREASE) IN CASH                         (18,134)        (29,093)

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

Cash at end of period                                                    $        (0)    $        --
                                                                         ===========     ===========
</TABLE>

<PAGE>

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

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

Six months  ended July 31, 1999  compared to six months  ended July 31, 1998 and
--------------------------------------------------------------------------------
three months ended July 31, 1999 compared to three months ended July, 31 1998
-----------------------------------------------------------------------------

     Revenues for the current six months of fiscal year 1999  decreased  $35,205
or 9.8% compared with the comparable period of the prior year.  Revenues for the
three month period ending July 31, 1999  increased  $5,392 or 3.2% compared with
the comparable  period of the prior year.  The overall  decrease in revenues for
the current six month period is  attributable a decrease in maintenance  revenue
during the current six month period.

     Operating  expenses  for the current six month period  decreased  $8,892 or
(2.2%) compared with the comparable period of the prior year.  Operating expense
for the three  month  period  ending July 31,  1999  decreased  $26,677 or 13.8%
compared  with the prior  year.  The  decrease  in the six month and three month
period was 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.
The  decrease  in  operating  expense is offset by an  increase in six and three
month software development by $22,075 and $11,038  respectively.  The reason for
this increase in Software  Development is that Multi Soft is amortizing  capital
development that was not being amortized in the prior period.

     Operating Loss, before other (expense) of $55,440 for the current six month
period increased  $26,313 compared with the comparable period of the prior year.
Operating  Loss,  before other income  (expense)  $24,472 for the current  three
month decreased  $32,069 compared with comparable  period of the prior year. The
reason for this increase in the six month period operating loss is cancellations
in  maintenance  coupled  with a  decrease  in sales for the  current  six month
period.

     Other  (expense)  for the current  six month  period was 60,592 as compared
with  43,348  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 six month period , net income of $5,152 or ($.00) cents per
share was  incurred  compared  with a net income of $14,221 or ($.00)  cents per
share an decrease of $9,069. For the current three month period, a net income of
$36,120 or .00 cents per share was incurred  compared  with a loss of $32,130 in
the comparable  period for the prior year an increase of $68,250.  As previously
stated,  the reason for the  increase  in income  over the  current  three month
period is due to services  render to the new  subsidiary  and a  curtailment  of
expenses.

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

     In the  first  six  months  of 1999,  IBM  accounted  for  17.25%  of total
revenues. In the first six months of 1996, IBM accounted for 24.3%.

<PAGE>

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

     At July 31, 1999, the Company had a negative  working  capital  position of
($275,465); 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 all 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
environment and has made its Windows based products easier to learn and use.

    Multi Soft has entered into an International  Software  Licensing  Agreement
with IBM which  grants IBM the  non-exclusive  rights  and  license to market an
extended  runtime  version of Multi  Soft's WCL product as an IBM logo  product.
This IBM EXTENDED  VERSION of Multi Soft's WCL is named IMS Client  ServerTM for
Windows.  It provides  remote  presentation  support for IMS. Multi Soft and IBM
also have entered into International Marketing Agreements to market Multi Soft's
WCL Toolkit under the name IMS Client Server ToolkitTM for Windows in the United
States,  Puerto Rico,  the Asian  Pacific  Region,  Europe,  the Middle East and
Africa and Canada.

     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.

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

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

<PAGE>

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: September 15, 1999
                                   By:______________________________
                                   Charles J. Lombardo, Chief Executive Officer,
                                   Chief Financial Officer and Treasurer