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 April 30, 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 April 30, 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 three months ended April 30, 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 for the three months  ended April 30, 1999 are not  necessarily
indicative of the results for the entire fiscal year.

     Multi Soft, Inc. is a 52% owned subsidiary of Multi Solutions, Inc.

<PAGE>

MULTI SOFT, INC.
52% owned subsidiary of Multi Solutions, Inc.
BALANCE SHEETS APRIL 30, 1999  and JANUARY 31, 1999

                                                        1999            1999
                                                    -----------     -----------
ASSETS
CURRENT ASSETS
     Cash                                           $    19,991     $    18,134
     Accounts Receivable (net of allowance
      of $43,783 and $43,783 respectively)              123,045         130,656
     Prepaid expenses and other current assets            9,676          13,385
                                                    -----------     -----------
                                                        152,712         162,175
FURNITURE AND EQUIPMENT
     Research and Development Equipment                   8,869           8,868
     Office furniture and other equipment                13,824          13,824
                                                    -----------     -----------
                                                         22,693          22,692
     Less: Accumulated Depreciation                     (13,051)        (12,250)
                                                    -----------     -----------
                                                          9,642          10,442
OTHER ASSETS
     Capitalized software development costs           1,196,795       1,460,178
     Less accumulated amortization                     (542,399)       (809,915)
                                                    -----------     -----------
                                                        654,396         650,263

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

                                                    $ 1,499,381     $ 1,505,511
                                                    ===========     ===========

<PAGE>

MULTI SOFT, INC.
52 % owned subsidiary of Multi Solutions, Inc.
BALANCE SHEETS
APRIL 30, 1999 and JANUARY 31, 1999

<TABLE>
<CAPTION>
LIABILITIES AND STOCKHOLDERS'                              1999            1999
DEFICIENCY                                              -----------     -----------
CURRENT LIABILITIES
<S>                                                     <C>             <C>
     Loan payable to bank                               $        --     $       796
     Note Payable                                             6,565           6,565
     Accrued payroll                                         19,265              --
     Payroll and other taxes payable                         28,096          19,480
     Accounts Payable, Accrued  expenses and
            other  Current Liabilities                       71,733          86,720
     Accrued officer compensation                           186,390         153,057
     Deferred Revenues                                      160,327         187,648
                                                        -----------     -----------

                                                            472,376         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 $34,636 (1999) and  $41,365 (1999)      5,992,785       5,986,056
     Accumulated deficit                                 (5,565,894)     (5,534,926)
                                                        -----------     -----------
                                                            440,400         464,639

                                                        $ 1,499,381     $ 1,505,511
                                                        ===========     ===========
</TABLE>

<PAGE>

MULTI SOFT, INC
52% owned subsidiary of Multi Solutions, Inc.
STATEMENTS OF OPERATIONS
APRIL 30, 1999 and APRIL 30, 1998

<TABLE>
<CAPTION>
                                                         1999             1998
                                                     ------------     ------------
REVENUES
<S>                                                  <C>              <C>
      License fees                                   $     59,724     $     77,112
      Maintenance fees                                    113,537          152,264
      Consulting and Other fees                            15,518               --
                                                     ------------     ------------
              Total revenues                              188,779          229,376

EXPENSES
      Software development and technical support           57,192           46,155
      Selling and administrative                          162,555          155,807
                                                     ------------     ------------

              Total expenses                              219,747          201,962
                                                     ------------     ------------

              Income  (Loss)  from operations             (30,968)          27,414

OTHER INCOME (EXPENSE)
      Other Revenues                                           --           19,557
      Interest Expense                                         --             (620)
                                                     ------------     ------------
              Total other income                               --           18,937

              Net Income (Loss)                      $    (30,968)    $     46,351
                                                     ============     ============

              Weighted average shares outstanding      13,509,473       11,780,306
                                                     ============     ============

              Income  per share                      $         --     $         --
                                                     ============     ============
</TABLE>

<PAGE>

MULTI SOFT, INC.
52 % owned subsidiary of Multi Solutions, Inc.
STATEMENTS OF CASH FLOWS
APRIL 30 , 1999 and APRIL 30, 1998

<TABLE>
<CAPTION>
                                                                            1999            1998
                                                                         -----------     -----------
Cash flows from operating activities
<S>                                                                      <C>             <C>
      Net Income                                                         $   (30,968)    $    46,351
      Adjustments to reconcile net income  to net cash
           provided by operating activities
      Depreciation and amortization                                           57,595          47,098
      Changes in assets and liabilities
              Due to / from Multi Solutions                                       --            (200)
              Due to/ from NetCast                                                --         (19,500)
              Accounts receivable                                              7,611         (73,561)
              Prepaid expenses and other current assets                        3,709         (17,000)
              Accrued payroll                                                 19,265          51,355
              Note Payable                                                        --          (1,790)
              Payroll and other taxes payable                                  8,616         (14,952)
              Accounts payable and accrued expenses                          (14,987)         15,455
              Accrued officer compensation                                    33,333          49,999
              Deferred revenues                                              (27,321)        (38,356)
                                                                         -----------     -----------

                     Net cash provided  by operating activities               56,853          44,899

Cash flows from investing activities
      Capitalized software development costs                                 (60,928)        (73,267)
                                                                         -----------     -----------

                     Net cash used in investing activities                   (60,928)        (73,267)

Cash flows from financing activities
      Net repayments under loan and line of credit ageements                    (796)         (2,728)
      Amortization of Stock Grants                                             6,729           2,003
                                                                         -----------     -----------

                     Net cash provided (used) by financing activities          5,933            (725)
                                                                         -----------     -----------

                     NET INCREASE (DECREASE) IN CASH                           1,858         (29,093)

Cash at beginning of year                                                     18,133          29,093
                                                                         -----------     -----------

Cash at end of period                                                    $    19,991     $        --
                                                                         ===========     ===========
</TABLE>

<PAGE>

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

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

Three months ended April 30, 1999 compared to three months ended April 30, 1998
-------------------------------------------------------------------------------

Revenues for the current three months of fiscal year 1999  decreased  $40,597 or
17.7%  compared with the  comparable  period of the prior year.  The decrease in
revenues for the three month period is primarily  attributable  to a decrease in
License  and  Maintenance  fees of $56,115  or 24.5%.  This is  attributable  to
cancellations  of maintenance  agreements with customers of Multi Soft whom have
been paying for monthly  maintenance  and  support.  The  decrease is  partially
offset by an increase in Consulting and Other Fees.

Operating  expenses  as a percent of  revenues  for the three  month  period was
116.4%  compared  with 88.0% for the  comparable  period of the prior year.  The
higher level of expenses in the current three month  period,  in addition to the
lower level of revenues  for the current  three month  period  accounts  for the
percentage   increase  .The  increase  is  a  result  of  greater   Selling  and
Administrative  Expenses  in the  amount  of  $6,748  or  4.3%  compared  to the
compareable period of the prior year. Also, software  development  increased for
the current  three month period in the amount of $11,037 or 24%. The increase is
attributed  to  amortizing  capitalized  costs in the current year that were not
amortized in the prior year.

Operating  loss,  before other  expense of $(30,968) for the current three month
period  increased  $(58,382)  compared with the  comparable  period of the prior
year.

Other  Income  (expense)  for the current  three month period was $0 as compared
with  $18,937  for the  comparable  period of the prior  year.  The  decrease is
attributable  to revenue from  consulting,  rent and Selling and  Administration
fees that were accrued in the prior year but not in the current year.

For the current  three month period , net loss of $(30,968) or  ($.00)cents  per
share was  incurred  compared  with a net income of $46,351 or ($.00)  cents per
share a decrease of $77,319.

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

     In the first three months of 1998, IBM accounted for 11% of total revenues.
In the first six months of 1997, IBM accounted for 20%.

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

     At April 30, 1999, the Company had a negative  working capital  position of
($319,664); and has been experiencing cash flow problems.

     Management  of  the  company  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

<PAGE>

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.  During the summer  Multi Soft plans to  introduce  a new product
which extends its present product line into the internet.

     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 WCLTM.  Pursuant to this agreement,  the
Company  will  receive a minimum of $75,000 per  quarter  over a two year period
representing minimum maintenance subject against royalties. As of November 1996,
the contract with IBM was extend for two more years and IBM is paying Multi Soft
monthly maintenance and royalties.

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

     The Company  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.

Year 2000
---------

     Many companies systems  experience  problems handling dates beyond the year
1999. The companies products are not directly impacted by this problem.

In particular,  year 2000 issues are  transparent to WCL. WCL simply  transports
data between the 3270/5250  presentation space and the client  application.  WCL
does no formatting of any data,  including dates.  This is handled by the client
development  tool such as VB,PB and VC++.  Therefore,  Year 2000  issues must be
addressed by these development tools, not WCL.

In addition,  The Company's INFRONT and QuickFRONT product have built in support
for the Year 2000.  Any date  functions  that use 2 positions for the year,  the
SETUPSL command can be used to handle the year 2000.

<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.

<PAGE>

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: JUNE 22, 1999
                                   By:______________________________
                                   Charles J. Lombardo, Chief Executive Officer,
                                   Chief Financial Officer and Treasurer