SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                  Form 10-QSB Quarterly or Transitional Report


 _X_  QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
 OF THE SECURITIES ACT OF 1934 FOR THE QUARTERLY PERIOD
 ENDED SEPTEMBER 30, 2004

                                       OR

___  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934

                           Commission File No. 2-97732

                         TECHNOLOGY GENERAL CORPORATION

.......................................................................
(Exact name of Small Business Issuer in its charter)

New Jersey                                           22-1694294
...............................            ..................................
(State or jurisdiction of                (I.R.S. Employer Identification No.)
incorporation or organization)

12 Cork Hill Road, Franklin, New Jersey                    07416
......................................................................
(Address of principal executive offices)                (Zip Code)






Indicated by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months and (2) has been subject to such filing
requirements for the past 90 days.

        Yes X                         No
       -------                      -------

As of September 30, 2004, the Registrant had 5,811,912 shares of Common Stock
outstanding and 131,839 shares of Class A Common Stock outstanding.










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<PAGE>






                         TECHNOLOGY GENERAL CORPORATION

                                      INDEX

                                                                     PAGE NO.
Part 1.  Financial Information

         Item 1.  Consolidated Financial Statement (unaudited)

                      Consolidated Balance Sheet - September 30, 2004    3

                      Consolidated Statement of Operations
                      For the six months ended
                      September 30, 2004 and 2003                        4

                      Consolidated Statement of Cash Flows
                      For the six months ended
                      September 30, 2004 and 2003                        5

                      Notes to Consolidated Financial Statements         6

          Item 2. Management's Discussion and Analysis of
                  Financial Condition and Results of Operation         7-9

          Signatures                                                    10


























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<PAGE>


                  TECHNOLOGY GENERAL CORPORATION AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEET
                                   (UNAUDITED)
                               SEPTEMBER 30, 2004

                                     ASSETS
CURRENT ASSETS:
Cash and cash equivalents                                        $143,028
  Accounts receivable, net of allowance for doubtful
  accounts of $5,700                                              198,267
  Inventories                                                     241,396
  Prepaid expenses and other current assets                         6,595
                                                               ----------
        Total current assets                                      589,286

PROPERTY, PLANT AND EQUIPMENT, net                              1,801,617

OTHER ASSETS, NET                                                  31,304

                                                               ----------
                                                               $2,422,207
                                                               ==========
                      LIABILITIES AND STOCKHOLDER'S EQUITY
CURRENT LIABILITIES:
   Current maturities of long-term debt                          $157,960
   Accounts payable and accrued expenses                          265,455
                                                               ----------
Total current liabilities                                         423,415

LONG - TERM DEBT:
   Long-term obligations, net of current maturities             1,808,334
   Security deposits                                               69,213
                                                               ----------
    Total long - term debt                                      1,877,547

STOCKHOLDERS' EQUITY:
   Common stock, $.001 par value
   authorized 30,000,000 shares, issued 5,886,228 shares,
   outstanding 5,811,912 shares                                     5,886
   Class A common stock, $.001 par value, 1/10th vote per share,
   authorized 15,000,000 shares, issued and
   outstanding 131,839 shares                                         132
   Capital in excess of par value                               2,421,124
   Accumulated deficit                                         (2,296,066)
                                                               ----------
                                                                  131,076

  Less treasury stock, at cost, 74,316                             (9,831)
                                                                ---------
     Total stockholders' equity                                   121,245
                                                                ---------
                                                               $2,422,207
                                                               ==========
           See accompanying notes to consolidated financial statements
                                        3

<PAGE>


                 TECHNOLOGY GENERAL CORPORATION AND SUBSIDIARY
                      CONSOLIDATED STATEMENT OF OPERATIONS
                                   (UNAUDITED)


                             Three Months Ended         Six Months Ended
                                September 30              September 30
                             ------------------        ------------------
                               2004      2003            2004      2003

REVENUES:
   Product sales            $212,908  $319,931        $491,724   $602,452
   Rentals                   236,966   217,361         462,847    432,693
                           ---------  --------        --------  ---------
                             449,874   537,292         954,571  1,035,145

COSTS AND EXPENSES:
  Cost of product sales      136,354   192,308         317,362    361,208
  Cost of rentals             94,683   104,910         191,585    213,991
  Selling, general and
  administrative expenses    262,476   449,355         536,563    732,676
                            --------  --------        --------   --------
                             493,513   746,573       1,045,510  1,307,875
                            --------  --------       ---------  ---------
INCOME (LOSS) FROM
 OPERATIONS                 (43,639)  (209,281)        (90,939)  (272,730)

OTHER INCOME (EXPENSE):
  Interest expense             (152)      (377)           (588)    (1,671)
  Interest and Dividend
  Income                        240         76             319        415
  Other                         513      2,748             804      2,366
                           --------   --------         -------   --------
                                601      2,447             535      1,110
                            --------   --------         -------   --------

NET INCOME (LOSS)
BEFORE INCOME TAXES         (43,038)  (206,834)         (90,404) (271,620)
INCOME TAXES                    250          -              250         -
                            -------    -------         --------   --------
                           $(43,288) $(206,834)        $(90,654)$(271,620)
                            ========  ========         ========  ========







            See Accompanying notes to consolidated financial statements

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<PAGE>





                  TECHNOLOGY GENERAL CORPORATION AND SUBSIDIARY
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                  SIX MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (UNAUDITED)

                                                       Six Months Ended
                                                         September 30
                                                        2004        2003
                                                      -------     -------
CASH FLOWS FROM OPERATING ACTIVITIES:
     Net income (loss)                              $ (90,654) $(271,620)
     Adjustments to reconcile net loss
      to net cash provided by
      (used in) operating activities:
     Depreciation and amortization                     49,298      60,390
Increase (decrease) in cash attributable to
 changes in operating assets and liabilities:
     Accounts receivable                               22,609      55,228
     Inventories                                       15,223     (23,195)
     Prepaid expenses and other current assets         11,200        (394)
     Other assets                                       4,171       1,572
     Accounts payable and accrued expenses             53,117     117,822
     Security deposits                                 (5,000)          -
                                                      -------    --------
NET CASH PROVIDED BY (USED IN)
OPERATING ACTIVITIES                                   59,964     (60,197)
                                                      -------    --------
NET CASH USED IN INVESTING ACTIVITIES:
    Purchases of property, plant,
      and equipment                                  (121,897)          0
                                                      -------    --------
                                                     (121,897)          -
                                                     ========    ========
CASH FLOWS FROM FINANCING ACTIVITIES:
     Principal payments on long-term debt             (57,067)    (35,217)
     Payments on lawsuit reserve                            -    (120,000)
     Obligation to Canadian bank                            0     206,000
     Proceeds from issuance of long-term debt          46,500           -
                                                      --------    -------
                                                      (10,567)     50,783
                                                      --------    -------
INCREASE (DECREASE) IN CASH AND
 CASH EQUIVALENTS                                     (72,500)     (9,414)

CASH AND CASH EQUIVALENTS,
 beginning of period                                  215,528     173,641
                                                      -------    --------
CASH AND CASH EQUIVALENTS, end of period             $143,028    $164,227
                                                     ========    ========

        See accompanying notes to consolidated financial statements

                                        5
<PAGE>

                    TECHNOLOGY GENERAL CORPORATION AND SUBSIDIARY

                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                     (UNAUDITED)

COMMITMENTS AND CONTINGENCIES

     The Company has settled a suit brought by the United States Environmental
Protection Agency (EPA) and the New Jersey Department of Environmental
Protection (NJDEP) relating to toxic chemical contamination at
a site formerly occupied by a subsidiary of the Company.

     Under the terms of the Consent Decree, the EPA and the NJDEP are to receive
a combined total of $600,000; in June 2003 the Company disbursed $60,000 to the
EPA and $60,000 to the NJDEP leaving a balance of $480,000. The $480,000 is to
be paid in five annual installments as follows: Commencing March 2004, $100,000;
March 2005, $100,000; March 2006, $100,000; March 2007, $100,000, and March 2008
the remaining $80,000. The first installment of $100,000 was disbursed March
2004 and of the remaining $380,000; $100,000 is shown on the balance sheet as a
current liability and $280,000 is shown as "Long-Term Debt".

         The Consent Decree also stipulated that the EPA and NJDEP would receive
100% of the net proceeds from the sale of certain of the company's Superfund
site properties with the requirement that the Company first obtain
A "letter of acceptance" from the EPA prior to the transfer of property deeds
and in addition, the EPA and NJDEP would receive 60% of the net rental income
derived from the properties subject to claim from the date of execution of the
settlement (March 2003) until the properties are sold. The Company had pending
purchase agreements for three of its real-estate parcels At the above mentioned
site.













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<PAGE>

Item 2     MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                              RESULTS OF OPERATIONS

     For the six-month period ended September 30, 2004, Technology General
Corporation and subsidiary had consolidated revenues of $954,571 and net loss of
$90,654. Technology General Corporation, operating individually as a holding
company managing the various operating segments, does not generate significant
revenue other than allocating management expenses to the operating entities and
leasing space to four tenants.

         Clawson Machine manufactures a full line of ice crushing and ice
shaving equipment for the food service and related industries. The popular Hail
Queen and Princess Chipper ice crushers are specified as "standard equipment" in
many major restaurant chains. The patented In-line crusher that inserts between
a commercial ice cuber and storage bin, maximizes the functionality of the
standard cuber without increasing floor space usage. The In-Line crusher will
crush cubes to one side of a storage bin or bypass cubes to the other side
depending on demand. All three units are NSF (National Sanitary Foundation)
listed, a requirement for food handling equipment in most states. The In-line
crusher is also UL recognized.

     Clawson also manufactures ice shaving equipment for block cubes
including several models specifically designed for snow cones used in the
amusement industries. These models include shaved ice storage areas, cup and
syrup dispensers.

         Sales are direct to end use customers and through an extensive
network of restaurant equipment distributors. An aggressive advertising, trade
show and internet program has historically proven successful. The continuation
of this program along with new innovative product design projects additional
growth.

     Eclipse Systems carries a diversified product line. The paint spray
products are the oldest of the Eclipse lines. In addition to the heavy duty
industrial Gat spray gun, Eclipse carries a complete line of siphon, pressure
and gravity feed guns in both standard and HVLP models.

     Additionally, Eclipse manufactures a full line of portable and
fixed position mixers for all industries. Standard models are available
in air or electric drive with gear reduction models in the larger sizes. With an
extensive parts inventory, Eclipse is able to produce made-to-order mixers at a
cost and turn-around time of the standard models. Specialty alloys, elastomers
and coatings are available to meet any demanding application. Typical uses are
found in the chemical, plating, paint, printing, food and pharmaceutical
industries. Eclipse has recently expanded its' capabilities to include the
ancillary equipment associated with the mixing and spraying industries. Current
capabilities include the design and manufacturing of instrumentation and control
systems available in stand alone and integrated designs.


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<PAGE>

Item 2     MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                       RESULTS OF OPERATIONS (CONTINUIED)



         The Eclipse and Clawson Divisions operate in combination with each
other, and total sales for the current six-month period amounted to $122,520 and
$130,516 respectively, for a total of $253,036. The comparable sales for the
six-month period ending September 30, 2003 were $148,881 for Eclipse and
$174,736 for Clawson for a total of $323,617. The 2004 six-month combined sales
decreased $70,581 compared to the 2003 six-month total.

     The Precision Metalform Division reported sales for the six-months ended
September 30, 2004 and 2003 of $238,687 and $278,834 respectively. Management
anticipates that sales for the balance of the year are expected to remain stable
in the writing instruments and cosmetic fields. Precision Metalform, along with
the Company's other operating divisions, has taken positive steps to reduce its
general and administration overhead, including efforts to reduce inventories to
conserve cash flow.

         Technology General currently is leasing space at its corporate office
complex to two (2) industrial tenants and is leasing residential property to
another tenant. Total revenues for the current six-month period were $75,943 and
for the same period in 2003 were $70,708 resulting in an increase of $5,235.

         Transbanc International Investors Corporation, a wholly-owned
subsidiary, is a real estate holding company which leases its 115,000 square
foot building to three (3) industrial tenants and three (3) commercial tenants.
Total rental revenue for the six-months ended September 30, 2004 amounted to
$353,455 an increase of $21,001 compared to the six-months ended Spetember 30,
2003. Management anticipates a modest increase in revenue from this facility
resulting from modified leases for an extended period of time.

         The company's Wildcat Properties owns a 24,000 square foot industrial
building located on 22 acres in Franklin, New Jersey, of which 3.5 acres were
the subject of an E.P.A. Superfund clean up. This property had been fully
restored and is presently occupied by two (2) tenants. Total revenues generated
at this facility for the six-months ended September 30, 2004 were $33,449
compared to $29,531 for the six-months ended September 30, 2003, an increase of
$3,918. Sale of this property, with net proceeds going to the EPA and NJDEP, is
expected to generate over $600,000 toward the settlement agreement before
selling expenses and legal closing costs.








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<PAGE>


LIQUIDITY

   As of September 30, 2004, current assets amounted to $589,286 and current
liabilities totaled $423,415, reflecting a working capital of $165,871 and a
current ratio of 1.4 to 1. There was a negative cash flow of $72,500 for the
current six-month period due to the net loss of $90,654.

RESULTS OF OPERATIONS

     PRODUCT SALES.  Technology General Corporation's manufacturing
segment generated sales of $491,724 for the six-month period
ended September 30, 2004.

     RENTAL SALES. Total consolidated rental billings for the six-month period
ended September 30, 2004 amounted to $462,847, an increase of $30,154 over the
same period for September 30, 2003.

     GROSS MARGIN. The consolidated gross profit margin for the six-months ended
September 30, 2004, was 46.7 percent.

     SELLING, GENERAL AND ADMINISTRATIVE EXPENSES. These expenses as a percent
of net sales were approximately 56.2 percent for the six-months ended September
30, 2004.

     INTEREST. Total interest expense for the six-months ended September 30,
2004 amounted to $52,459 of which $51,872 is reflected under "Cost of Rentals"
and the remainder of $587 is shown as a separate line item within "Other Income
(Expense)".

     NET INCOME/LOSS. The net loss for the six-months ended September 30, 2004
amounted to $90,654 and the net loss for the comparable 2003 six-month period
was $271,620.








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                             SIGNATURES

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



Date:  January 6, 2005             TECHNOLOGY GENERAL CORPORATION




       BY:./s/ Charles J. Fletcher
          ------------------------
               Charles J. Fletcher
               President, Chief Executive Officer
               Chairman of the Board






       BY:./s/ Helen S. Fletcher
          ----------------------
               Helen S. Fletcher
               Secretary/Treasurer












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