U. S. Securities and Exchange Commission
                             Washington, D. C. 20549


                                   FORM 10-QSB


[X]     QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
        ACT OF 1934

        For the quarterly period ended December 31, 1999

[ ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
        ACT OF 1934

         For the transition period from                to
                                        --------------    ------------------


                               Commission File No.
                                   002-98748-D

                             FORMULA FOOTWEAR, INC.
                 (Name of Small Business Issuer in its Charter)


                 UTAH                                     33-0317292
      (State or Other Jurisdiction of            (I.R.S. Employer I.D. No.)
       incorporation or organization)


                         5525 South 900 East, Suite 110
                           Salt Lake City, Utah 84117
                    (Address of Principal Executive Offices)

                    Issuer's Telephone Number: (801)262-8844

                              None, Not Applicable;

                                   -----------
          (Former Name or Former Address, if changed since last Report)


     Indicate  by check mark  whether the  Registrant  (1) has filed all reports
required to be filed by Sections 13 or 15(d) of the  Securities  Exchange Act of
1934  during  the  preceding  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.

(1)  Yes  X    No              (2)  Yes  X    No
         ----     ----                  ----         ----
<PAGE>

APPLICABLE  ONLY TO  ISSUERS  INVOLVED  IN  BANKRUPTCY  PROCEEDINGS  DURING  THE
PRECEDING FIVE YEARS

     None, Not Applicable;

     APPLICABLE  ONLY  TO  CORPORATE  ISSUERS  Indicate  the  number  of  shares
outstanding  of each of the  Registrant's  classes  of common  stock,  as of the
latest practicable date:

                                  June 30, 2000

                                    4,267,288

PART I - FINANCIAL INFORMATION

Item 1.Financial Statements.

 The Financial  Statements of the Registrant  required to be filed with this
10-QSB  Quarterly  Report  were  prepared  by  management  and  commence  on the
following page,  together with related Notes. In the opinion of management,  the
Financial  Statements fairly present the financial  condition of the Registrant.


<PAGE>
<TABLE>
<CAPTION>
                             Formula Footwear, Inc.
                                 BALANCE SHEETS
                         For the Period Ended December 31, 1999

                                                            12/31/1999
                                                          --------------
                                                           [Unaudited]
                                     ASSETS

<S>                                                      <C>
Assets                                                   $             0

                                                          --------------
         Total Assets                                    $             0
                                                          ==============

                      LIABILITIES AND STOCKHOLDERS' DEFICIT

Current Liabilities:
     Loans from stockholders                             $         1,250
     Accounts Payable                                                426
     Income Taxes Payable                                              0
                                                          --------------
         Total Current Liabilities                                 1,676

         Total Liabilities                                         1,676
                                                          --------------

Stockholders' Deficit:
     Common Stock, $.001 par value;
         authorized 50,000,000 shares; issued and
         outstanding, 4,267,288 shares                             4,268
     Paid-in Capital                                             351,753
     Accumulated Deficit                                       (357,697)
                                                          --------------
         Total Stockholders' Deficit                             (1,676)

                                                          --------------
         Total Liabilities and Stockholders' Deficit     $             0
                                                          ==============

NOTE  TO  FINANCIAL   STATEMENTS:   Interim  financial  statements  reflect  all
adjustments  which  are,  in the  opinion  of  management,  necessary  to a fair
statement  of the results for the periods.  The December 31, 1999 balance  sheet
has been derived from the audited financial statements.  These interim financial
statements  conform with the requirements for interim  financial  statements and
consequently do not include all the disclosures  normally  required by generally
accepted accounting principles.

</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                             Formula Footwear, Inc.
                            STATEMENTS OF OPERATIONS


                                             Three           Three          Nine           Nine         From the Beginning of
                                             Months         Months         Months          Months       Development Stage on
                                             Ended           Ended         Ended           Ended        April 1, 1989 through
                                           12/31/1999     12/31/1998     12/31/1999      12/31/1998        December 31, 1999

                                         --------------  -------------   ----------  -----------------  ---------------------
                                          [Unaudited]     [Unaudited]    [Unaudited]    [Unaudited]
REVENUE


<S>                                    <C>              <C>            <C>          <C>                  <C>
   Income                              $              0 $            0 $          0 $                0   $              0
                                         --------------  -------------   ----------  -----------------  -----------------
NET REVENUE                                           0              0            0                  0                  0

Operating Expenses

      Operating Expenses                            418              0         4788                  0              5,214
                                         --------------  -------------   ----------  -----------------  -----------------
Total Operating Expenses                            418              0         4788                  0              5,214

                                         --------------  -------------   ----------  -----------------  -----------------
Net Income Before Taxes                 $         (418) $            0$     (4,788)$                 0             (5,214)
                                         ==============  =============   ==========  =================  =================

Income/Franchise taxes                                0                           0                  0                  0

Net loss                                          (418)              0      (4,788)                  0             (5,214)

Loss Per Share                          $        (0.01) $       (0.01 $      (0.01) $           (0.01)
                                         ==============  =============   ==========  =================

Weighted Average Shares Outstanding           2,648,503     26,611,531    4,969,918         26,611,531
                                         ==============  =============   ==========  =================


</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                             Formula Footwear, Inc.
                            STATEMENTS OF CASH FLOWS
      For the Three and Nine Month Periods Ended December 31, 1999 and 1998

                                               Three          Three      Nine Months    Nine Months     From the Beginning of
                                               Months        Months                                     Development Stage on
                                               Ended          Ended         Ended          Ended        April 1, 1989 through
                                             12/31/1999    12/31/1998     12/31/1999    12/31/1998        December 31, 1999
                                            ------------  -------------  ------------  -------------    ---------------------
                                            [Unaudited]    [Unaudited]   [Unaudited]    [Unaudited]

Cash Flows Used For Operating
Activities
-----------------------------------------

<S>                                        <C>           <C>            <C>           <C>               <C>
  Net Loss                                 $       (418) $            0 $     (4,788) $            0    $           (357,697)
  Adjustments to reconcile net loss to net
cash
    used in operating activities:
    Loss from discountinued operations                                                                               351,823
    Shares issued for forgiveness of debt          3,238              0         3,538              0                   3,538
    Increase/(Decrease) in loans from            (2,820)              0         1,250              0                   2,336
shareholder
                                            ------------  -------------  ------------  -------------    --------------------
      Net Cash Used For Operating Activities           0              0             0              0                       0
                                            ============  =============  ============  =============    ====================

Cash Flows Provided by Financing                       0              0             0              0                       0
Activities
--------------------------------------------

      Net Increase In Cash                             0              0             0              0                       0

      Beginning Cash Balance                           0              0             0              0                       0

      Ending Cash Balance                $             0$             0$            0$             0                       0
                                            ------------  -------------  ------------  -------------    --------------------


</TABLE>
<PAGE>


Item 2.Management's Discussion and Analysis or Plan of Operation.

Plan of Operation.

     The Company has not engaged in any material operations in the period ending
December 31, 1999, or since before  approximately  1989. The Company  intends to
continue to seek out the acquisition of assets, property or business that may be
beneficial to the Company and its stockholders.

     The Company's only foreseeable cash requirements  during the next 12 months
will relate to  maintaining  the Company in good  standing in the State of Utah,
keeping its reports "current" with the Securities and Exchange Commission or the
payment of expenses  associated  with reviewing or  investigating  any potential
business  venture.  Management does not anticipate that the Company will have to
raise additional funds during the next 12 months,  however, if additional moneys
are needed,  they may be advanced by  management  or principal  stockholders  as
loans to the Company. Because the Company has not identified any such venture as
of the date of this Report,  it is  impossible  to predict the amont of any such
loan.  However,  any such loan will not exceed  $25,000  and will be on terms no
less favorable to the Company than would be available  from a commercial  lender
in an arm's length  transaction.  As of the date of this Report, the Company has
not begun seeking any acquisition.

Results of Operations.

     The  Company  has had no  operations  during  the  quarterly  period  ended
December  31,  1999,  or since  on or  before  approximately  1989.  During  the
quarterly  period  covered by this Report,  the Company  received no revenue and
incurred expenses of $418, stemming from general and administrative expenses.

Liquidity

     At December 31, 1999,  the Company had total current assets of $0 and total
liabilities of $1,676.

PART II - OTHER INFORMATION

Item 1.Legal Proceedings.

None; not applicable.

Item 2.Changes in Securities.

None; not applicable

Item 3.Defaults Upon Senior  Securities.

None; not applicable.

Item 4.Submission of Matters to a Vote of Security Holders.

None; not applicable

Item 5.Other Information.

None; applicable

Item 6.Exhibits and Reports on Form 8-K.

None; not applicable

(b)Reports on Form 8-K.

None; Not Applicable.


<PAGE>

SIGNATURES

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

                                 FORMULA FOOTWEAR, INC.



Date:8/7/00                 /S/JAMES DOOLIN
                            James Doolin, President and Director



Date:7/25/00                /S/HAROLD JENSON
                            Harold Jenson, Vice President and Director