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, 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 April 30, 2000
-----------------------                            -----------------------------
Common Stock, par value                                      13,709,477
    $.001 per share

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

<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 three months
ended April 30, 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  three  months  ended  April  30,  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
April 30, 2000 and January 31, 2000
              (Unaudited)

                                                     April 30,      January 31,
                                                       2000            2000
                                                    -----------     -----------
ASSETS
CURRENT ASSETS
     Cash                                           $    (5,914)    $    13,205
     Accounts Receivable (net of allowance
      of $37,486 and $37,486 respectively)              101,993         139,610
     Prepaid expenses and other current assets           45,293          44,991
                                                    -----------     -----------
                                                        141,372         197,806
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                     (16,219)        (15,439)
                                                    -----------     -----------
                                                          6,474           7,253
OTHER ASSETS
     Capitalized software development costs           1,391,023       1,371,387
     Less accumulated amortization                     (759,283)       (712,776)
                                                    -----------     -----------
                                                        631,740         658,611

     Due from Multi Solutions, Inc                      429,661         448,039
     Due from NetCast, Inc.                             234,592         234,592
                                                    -----------     -----------

                                                    $ 1,443,839     $ 1,546,301
                                                    ===========     ===========

                                       3
<PAGE>

MULTI SOFT, INC.
a 51.3% owned subsidiary of Multi Solutions, Inc.
BALANCE SHEETS
April 30, 2000 and January 31, 2000
              (Unaudited)

<TABLE>
<CAPTION>
                                                         April 30,      January 31,
LIABILITIES AND STOCKHOLDERS'                              2000            2000
                                                        -----------     -----------
DEFICIENCY
CURRENT LIABILITIES
<S>                                                     <C>             <C>
     Accrued payroll                                    $    14,783     $    14,783
     Payroll and other taxes payable                         17,806          19,048
     Accounts Payable, Accrued  expenses and
            other  Current Liabilities                       21,790          50,215
     Accrued officer compensation                           161,390         161,390
     Deferred Revenues                                       65,558         127,532
                                                        -----------     -----------
                                                            281,327         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 $18,903 and $25,257 respectively        6,020,318       6,013,964
     Accumulated deficit                                 (5,458,120)     (5,440,945)
                                                        -----------     -----------
                                                            575,907         586,728

                                                        $ 1,443,839     $ 1,546,301
                                                        ===========     ===========
</TABLE>

                                       4
<PAGE>

MULTI SOFT, INC
a 51.3% owned subsidiary of Multi Solutions, Inc.
STATEMENTS OF OPERATIONS
April 30, 2000 and April 30, 1999
              (Unaudited)

<TABLE>
<CAPTION>
                                                          Three Months Ended
                                                               April 30,
                                                         2000             1999
                                                     ------------     ------------
REVENUES
<S>                                                  <C>              <C>
      License fees                                   $     12,485     $     59,724
      Maintenance fees                                     65,820          113,537
      Consulting and Other fees                             6,699           15,518
                                                     ------------     ------------
              Total revenues                               85,004          188,779

EXPENSES
      Software development and technical support           88,628           57,192
      Selling and administrative                          153,051          162,555
                                                     ------------     ------------

              Total expenses                              241,679          219,747
                                                     ------------     ------------

              Income  (Loss)  from operations            (156,675)         (30,968)

OTHER INCOME (EXPENSE)
      Other Revenues                                      139,500               --
      Interest Expense                                         --
                                                     ------------     ------------
              Total other income                          139,500               --


              Net (Loss)                             $    (17,175)    $    (30,968)
                                                     ============     ============

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

              Income (Loss)  per share                    (a)              (a)
                                                     ============     ============

              (a) less than $.01 per share
</TABLE>

                                       5
<PAGE>

MULTI SOFT, INC.
a 51.3% owned subsidiary of Multi Solutions, Inc.
STATEMENTS OF CASH FLOWS
April 30, 2000 and April 30, 1999
              (Unaudited)

<TABLE>
<CAPTION>
                                                                           April 30,
                                                                      2000           1999
                                                                   ----------     ----------
Cash flows from operating activities
<S>                                                                <C>            <C>
      Net (loss)                                                   $  (17,175)    $  (30,968)
      Adjustments to reconcile net income  to net cash
           provided by operating activities
      Depreciation and amortization                                    47,286         57,595
      Changes in assets and liabilities
              Due to / from Multi Solutions                            18,378             --
              Due to / from NetCast                                        --             --
              Accounts receivable                                      37,617          7,611
              Prepaid expenses and other current assets                  (302)         3,709
              Accrued payroll                                              --         19,265
              Payroll and other taxes payable                          (1,242)         8,616
              Accounts payable and accrued expenses                   (28,425)       (14,987)
              Accrued officer compensation                                 --         33,333
              Deferred revenues                                       (61,974)       (27,321)
                                                                   ----------     ----------

                     Net cash provided  by operating activities        (5,837)        56,853

Cash flows from investing activities
      Capitalized software development costs                          (19,636)       (60,928)
                                                                   ----------     ----------

                     Net cash used in investing activities            (19,636)       (60,928)

Cash flows from financing activities
      Net repayments under loan and line of credit ageements               --           (796)
      Amortization of Stock Grants                                      6,354          6,729
                                                                   ----------     ----------

                     Net cash provided  by financing activities         6,354          5,933
                                                                   ----------     ----------

                     NET INCREASE (DECREASE) IN CASH                  (19,119)         1,858

Cash at beginning of year                                              13,205         18,133
                                                                   ----------     ----------

Cash at end of period                                              $   (5,914)    $   19,991
                                                                   ==========     ==========
</TABLE>

                                       6
<PAGE>

MULTI SOFT, INC.
NOTE TO FINANCIAL STATEMENTS
April 30, 2000
(Unaudited)

OTHER REVENUES

Represents  amounts for  consulting,  rent and  administrative  fees  charged to
FreeTrek.Com, Inc., an affiliate, during the three months ended April 30, 2000.

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

Three months ended April 30, 2000 compared to Three months ended April 30, 1999
-------------------------------------------------------------------------------

We generated  revenues  during the three months ended April 30, 2000,  the first
quarter of our fiscal  year  ending  January 31,  2001,  of $85,004  compared to
revenues of $188,779  during the first  quarter of fiscal 2000.  We believe that
this decrease of $103,775, or approximately 55%, was due primarily to a decrease
in revenues from license and maintenance  fees.  License fee revenues  decreased
$47,239,  or approximately  79.1%, and maintenance  fees decreased  $47,717,  or
approximately 42.0%.

Our two  traditional  principal  sources  of  revenues  were  license  fees  and
maintenance fees which  represented  approximately  92.1% or $78,305 of revenues
for the three  months ended April 30, 2000 and 91.8% or $173,261 of revenues for
the three months ended April 30, 1999.

We believe that the 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.

Although our traditional sources of revenues decreased  significantly during the
first  quarter of fiscal 2001,  we generated  other income of $139,500 from fees
charged to our affiliate, FreeTrek.com, Inc. These fees consisted of:

                                       8
<PAGE>

     o    consulting fees of       $116,000,
     o    rent of                  $7,500 and
     o    administrative fees of   $16,000.

See the discussion below under "Major Customers."

Our  operating  expenses were $241,679 for the three months ended April 30, 2000
compared to $219,747 for the  comparable  three month period of fiscal 2000,  an
increase of $21,932 or  approximately  10%. We believe  that the  increase was a
result of higher levels of software  development costs,  offset in part by lower
levels of selling and administrative costs charged to operations.

As a result  of all of the  foregoing,  we  incurred  a net  loss for the  first
quarter of fiscal 2001year of $17,175  compared to a net loss of $30,968 for the
first quarter of fiscal 2000, a decrease of $13,793 or approximately 44.5%.

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

In the first quarter of fiscal 2000, IBM accounted for 11% of total revenues. In
the first  quarter of fiscal  2001,  IBM did not account for any  revenues.  IBM
extended its contract with us through  December 31, 1999;  however,  IBM has not
renewed  the  contract.  The loss of  revenues  from IBM will have a  materially
adverse effect on our financial  condition.  We have offset the loss of revenues
from IBM with revenues 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 April 30, 2000,  we had a negative  working  capital  position of  ($139,955)
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    significantly cutting overhead costs thru staff reduction;
     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

                                       9
<PAGE>

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             April 30, 2000         January 31, 2000
          ----------------------------------------------------------------

          Working capital
          (deficiency)               ($139,955)               ($175,162)

          Current ratios               0.50:1                  0.53:1

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.

                                       10
<PAGE>

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

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

          None.

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

          Our common stock purchase warrants expired on June 1, 2000.

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.

                                       11
<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 16, 2000
                              By: /s/ Charles J. Lombardo
                                  ---------------------------------------------
                                  Charles J. Lombardo, Chief Executive Officer,
                                  Chief Financial Officer and Treasurer

                                       12