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 DECEMBER 31, 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)

Issuer's telephone number, including area code: (973) 827-4143

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 December 31, 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 - December 31, 2004     3

                      Consolidated Statement of Operations
                      For the nine months ended
                      December 31, 2004 and 2003                         4

                      Consolidated Statement of Cash Flows
                      For the nine months ended
                      December 31, 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)
                           DECEMBER 31, 2004

                                 ASSETS
CURRENT ASSETS:
Cash and cash equivalents                                      $   159,071
  Accounts receivable, net of allowance for doubtful
  accounts of $5,700                                               251,404
  Inventories                                                      221,603
  Prepaid expenses and other current assets                          7,383
                                                                ----------
        Total current assets                                       639,461

PROPERTY, PLANT AND EQUIPMENT, net                               1,777,816

OTHER ASSETS, NET                                                   28,564

                                                                ----------
                                                                $2,445,841
                                                                ==========

                 LIABILITIES AND STOCKHOLDER'S EQUITY
CURRENT LIABILITIES:
   Current maturities of long-term debt                        $   160,991
   Accounts payable and accrued expenses                           228,173
                                                                ----------
         Total current liabilities                                 389,164

LONG - TERM DEBT:
   Long-term obligations, net of current maturities              1,842,322
   Security deposits                                                66,768
                                                                ----------
    Total long - term debt                                       1,909,090

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                                          (2,269,724)
                                                                ----------
                                                                   157,418

  Less treasury stock, at cost, 74,316                              (9,831)
                                                                 ---------
     Total stockholders' equity                                    147,587
                                                                 ---------
                                                               $ 2,445,841
                                                                ==========

           See accompanying notes to consolidated financial statements




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<PAGE>




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


                             Three Months Ended         Nine Months Ended
                                December 31                December 31
                           --------------------     ------------------------
                               2004      2003            2004         2003

REVENUES:
   Product sales           $ 372,694  $ 393,180     $   864,418   $  995,632
   Rentals                   230,588    224,108         693,435      656,801
                           ---------  ---------     -----------   ----------
                             603,282    617,288       1,557,853    1,652,433

COSTS AND EXPENSES:
  Cost of product sales      200,426    138,168         517,788      499,376
  Cost of rentals            109,853     91,827         301,438      305,818
  Selling, general and
  administrative expenses    259,171     82,687         795,734      815,363
                           ---------  ---------     -----------   ----------
                             569,450    312,682       1,614,960    1,620,557
                           ---------  ---------     -----------   ----------
INCOME (LOSS) FROM
 OPERATIONS                   33,832    304,606         (57,107)      31,876

OTHER INCOME (EXPENSE):
  Interest expense            (1,320)      (271)         (1,908)      (1,942)
  Interest and Dividend
  Income                          70        183             389          598
  Other                       (6,239)     1,336          (5,435)       3,702
                           ---------  ---------     -----------   ----------
                              (7,489)     1,248          (6,954)       2,358
                           ---------  ---------     -----------   ----------

NET INCOME (LOSS)
BEFORE INCOME TAXES           26,343    305,854         (64,061)      34,234
INCOME TAXES                       -          -             250            -
                            -------   --------      -----------   ----------
                           $  26,343  $ 305,854     $   (64,311) $    34,234
                           =========  =========     ===========   ==========





           See Accompanying notes to consolidated financial statements




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<PAGE>





                  TECHNOLOGY GENERAL CORPORATION AND SUBSIDIARY
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                  NINE MONTHS ENDED DECEMBER 31, 2004 AND 2003
                                   (UNAUDITED)


                                                       Nine Months Ended
                                                         December 31
                                                        2004       2003
                                                      -------     -------
CASH FLOWS FROM OPERATING ACTIVITIES:
     Net income (loss)                               $(64,311)   $ 34,234
     Adjustments to reconcile net loss
      to net cash provided by
      (used in) operating activities:
     Depreciation and amortization                     73,947      90,585
Increase (decrease) in cash attributable to
 changes in operating assets and liabilities:
     Accounts receivable                              (30,528)    154,550
     Inventories                                       35,016     (34,314)
     Prepaid expenses and other current assets         10,412     (15,230)
     Other assets                                       6,911       3,894
     Accounts payable and accrued expenses             15,835     149,205
     Security deposits                                 (7,445)          -
                                                      -------    --------
NET CASH PROVIDED BY (USED IN)
OPERATING ACTIVITIES                                   39,837     382,924
                                                      -------    --------
NET CASH USED IN INVESTING ACTIVITIES:
    Purchases of property, plant,
      and equipment                                  (122,744)    (32,717)
                                                      -------    --------
CASH FLOWS FROM FINANCING ACTIVITIES:
 Principal paymentson long-term debt                  (77,800)   (172,659)
 Proceeds from issuance of long-term debt              154,250    162,149
 Decrease in long-term estimated legal
       obligation                                     (50,000)          -
                                                      --------    -------
                                                       26,450     (10,510)
                                                      --------    -------
INCREASE (DECREASE) IN CASH AND
 CASH EQUIVALENTS                                     (56,457)    339,697

CASH AND CASH EQUIVALENTS,
 beginning of period                                  215,528     173,641
                                                      -------    --------
CASH AND CASH EQUIVALENTS, end of period             $159,071    $513,338
                                                     ========    ========



           See accompanying notes to consolidated financial statements



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<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  three  properties  are  sold.  One of the
properties  was  sold  in  November  2004  for  $90,000  and  the  net  proceeds
apportioned 90% to the EPA and 10% to the NJDEP.  The remaining two parcels have
pending purchase agreements.











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<PAGE>






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

     For the nine-month period ended December 31, 2004, Technology
General Corporation and subsidiary had consolidated revenues of $1,529,299
and net loss of $114,311.  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  nine-month  period  amounted  to $232,463  and
$204,176  respectively,  for a total of $436,639.  The comparable  sales for the
nine-month  period  ending  December  31,  2003 were  $284,172  for  Eclipse and
$300,924 for Clawson for a total of $585,096. The 2004 nine-month combined sales
decreased $148,457 compared to the 2003 nine-month total.

     The Precision  Metalform  Division reported sales for the nine-months ended
December  31, 2004 and 2003 of $399,224 and  $410,536  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  nine-month period were $113,915
and for the same  period in 2003  were  $106,313  resulting  in an  increase  of
$7,602.

     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  nine-months  ended  December  31, 2004  amounted to $531,258 an
increase  of $29,278  compared to the  nine-months  ended  December  31, 2003 of
$501,980. 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 one (1) tenant.  Total revenues generated
at this  facility  for the  nine-months  ended  December  31, 2004 were  $48,263
compared to $48,509 for the  nine-months  ended December 31, 2003, a decrease of
$246.  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 December 31, 2004, current assets amounted to $639,461
and current liabilities totaled $389,164, reflecting a working capital
of $250,297 and a current ratio of 1.6 to 1.  There was a negative cash
flow of $56,457 for the current nine-month period due to the net loss
of $114,311.

RESULTS OF OPERATIONS

     PRODUCT SALES.  Technology General Corporation's manufacturing
segment generated sales of $835,863 for the nine-month period
ended December 31, 2004.

     RENTAL SALES.  Total consolidated rental billings for the
nine-month period ended December 31, 2004 amounted to $693,436
an increase of $30,154 over the same period for December 31, 2003.

     GROSS MARGIN.  The consolidated gross profit margin for the
nine-months ended December 31, 2004, was 45.0 percent.

     SELLING, GENERAL AND ADMINISTRATIVE EXPENSES.  These expenses
as a percent of net sales were approximately 52.0 percent for the
nine-months ended December 31, 2004.

     INTEREST.  Total interest expense for the nine-months ended
December 31, 2004 amounted to $86,127 of which $84,219 is reflected
under "Cost of Rentals" and the remainder of $1,908 is shown as a
separate line item within "Other Income (Expense)".

     NET INCOME/LOSS.  The net loss for the nine-months ended
December 31, 2004 amounted to $114,311 and the net loss for the
comparable 2003 nine-month period was $34,234.










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<PAGE>




                             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:  March 10, 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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