UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                      Washington, DC  20549
                           Form 10-QSB

(Mark one)

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

         For the quarterly period ended: June 30, 1999

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

         For the transition period from ____________ to _____________

                   Commission file number: 0-023532

                    AMERICAN DIVERSIFIED GROUP, INC.
    (Exact name of small business issuer as specified in its charter)

              Nevada                             88-0292161
       (State or other jurisdiction of          (IRS Employer
        incorporation or organization)          Identification No.)


        110 North Center Street, Suite 177, Hickory, NC 28601
              (Address of principal executive offices)

                         (828) 322-2044
                   (Issuer's telephone number)


           (Former name, former address and former fiscal year,
                      if changed since last report)

        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 report (s), and (2) has been subject to  such
filing requirements for the past 90 days.  Yes [ X ]    No [   ]

              APPLICABLE ONLY TO CORPORATE ISSUERS
        State  the  number of shares outstanding  of  each  of  the
issuer's  classes  of common equity, as of the  latest  practicable
date:

       Common Stock, $.001 par value 254,637,560 shares outstanding
as of June 30, 1999.

Transitional Small Business Disclosure Format:  Yes __  No  X





                              INDEX


                AMERICAN DIVERSIFIED GROUP, INC.


PART I FINANCIAL INFORMATION
----------------------------

Item 1. Financial Statements (Unaudited)

       Balance Sheets - December 31, 1998 and June 30, 1999
       (Unaudited).

       Statements of Operations - Three months and six months ended
       June 30, 1999
       and 1998 (Unaudited).

       Statements of Cash Flows - Three months and six months ended
       June 30, 1999  and 1998 (Unaudited).

       Notes to Financial Statements

Item 2. Management's Discussion and Analysis of Financial Condition
        and Results of Operations

Except for the historical information herein, the matters discussed
in  this quarterly report includes forward-looking statements  that
may involve a number of risks and uncertainties. Actual results may
vary based upon a number of factors, including, but not limited to,
risk  in  product availability, product technology changes,  market
acceptance  of  new products and services, questions of  continuing
demand, the impact of competitive products and pricing, changes  in
economic  conditions  and  other  risk  factors  contained  in  the
Company's  most  recent  filings with the Securities  and  Exchange
Commission ("SEC").


Results of Operations
---------------------
American  Diversified Group, Inc.(the "Company") is  a  development
stage  company.  The disclosure in the quarterly report  should  be
read  in  conjunction with the Company's annual report on Form  10-
KSB/A  for  its year ended December 31, 1998, which was filed  with
the  SEC,  as well as the Quarterly Report on Form 10-QSB  for  the
three month period ended March 31, 1999. During the Company's three
and six month periods ended June 30, 1999, the Company incurred net
losses  of $239,614 ($.00 per Share) and $664,145 ($.00 per  Share)
compared  to  net losses of $279,868 ($.00 per Share) and  $872,356
($.00 per Share) for the comparable three and six month periods for
the prior year.

The  Company reported no sales revenues for the three and six month
periods  ended June 30, 1999, compared to sales revenues of $13,672
and  $66.422,  respectively, for the three and  six  month  periods
ended June 30, 1998. These revenues during 1998 resulted from sales
of generic pharmaceuticals and telecommunication products.

The  Company's net losses for the three and six month periods ended
June 30, 1999, were the result of the lack of sales revenues during
the  periods and the continued expenses associated with  continuing
to operate and maintain its offices, professional fees and expenses
associated  with  being a reporting public company,  which  include
accounting  and  printing/EDGAR preparation and  filing  fees.  The
Company incurred non-cash expenses associated with the issuance  of
shares  to  its  executive officer, directors and  consultants  for
continued  services  to the Company during the three  month  period
ended  March  31,  1999,  in  the  aggregate  amount  of  $225,000,
exclusive of $48,000 advanced by the Company to GTCC to expand  its
Internet  telephony  business as an affiliate of  the  Company.  No
shares  were  issued for services during the second  quarter  ended
June  30,  1999. Such non-cash compensation in connection with  the
issuance of shares expensed during the six month period ended  June
30, 1998, was $996,400.

In  order for the Company  to pay its operating expenses, including
office  rents,  communication expenses, accounting and  bookkeeping
fees, printing and EDGAR preparation costs, publication costs,  and
other   general  and  administrative  expenses,  the  Company   was
dependent   upon  the funds provided by non-interest bearing  loans
from  the  Company's executive officer and directors. In  addition,
during the second quarter of 1999, the Company received funds  from
the exercise of options by certain persons totaling $52,000.

There  can  be no assurance of any additional exercise of  options,
although following the end of the quarter ended June 30, 1999,  the
Company  granted  to  certain consultants and employees  additional
options  from which it believes it will generate revenues prior  to
the end of the third quarter ending September 30,1999.

While  the  Company raised capital from private  investors  in  the
Company's  unit  private  placement ($122,000  net  of  commissions
during  1997)  and ($56,000 net of commissions during 1998),  which
units  were sold at $.04 per unit, each consisting of one share  of
common  stock  and one common stock purchase option exercisable  at
$.08 per share, there can be no assurance based upon present market
price  of  the  shares  that it will be able  to  raise  additional
private placement funding, at terms and conditions satisfactory  to
the  Company,  and  the  Company is not  presently  soliciting  any
private placement proceeds.

The Company, during the first six months of 1999, has continued  to
pursue  efforts  to  generate  further  orders  for  pharmaceutical
products  in  West  Africa. These efforts,  the  Company  presently
believes,  should result in its ability to begin to generate  sales
revenues  for  pharmaceutical products in West  Africa.  While  the
Company's consulting agreement with Emerging Trends Linkages  Corp.
(ETLC)  expired in June, 1999, the Company, however, is  continuing
negotiations   with  ETLC  for  the  purposes  of   extending   its
relationship with ETLC. In fact, ETLC has engaged the services of a
new  representatives for West Africa, and the Company believes that
there  will be an increasing level of pharmaceutical product orders
during  successive  quarters  in 1999.  The  Company  has  recently
shipped   samples,   and   registration  documentation,   for   the
registration  and  sale of approximately 30 generic  pharmaceutical
products in West Africa. The Company's ability to generate revenues
from  such  efforts  is contingent upon the Company  concluding  an
extension  with  ETLC  at terms and conditions  that  are  mutually
agreeable.

The  Company  together  with  ETLC is presently  outsourcing  these
generic   pharmaceutical   products  from   several   third   party
manufacturers  and  distributors,  located  in  India,  which  have
provided quality products at competitive prices necessary  for  the
Company to meet the pricing structure in West Africa and elsewhere.

The  Company,  in  May,  1999, was informed by  ETLC  that  initial
deliveries  were  made  of  the dengue fever  test  kits  in  South
America.  These  test kits, which are manufactured in  US,  require
funding  from  the South American customers prior to  any  payments
being  made  the  Company  and the US manufacturer.  The  Company's
relationship  is  directly through ETLC, whose  representative  was
active  in  the  registration approval of the test  kits  in  South
America,  and  not  with the US manufacturer. The Company  believes
that it should be able to generate revenues from the sale of dengue
fever  test  kits.  However, this ability  is  dependent  upon  the
Company  successfully concluding an extension of  its  relationship
with  ETLC,  with  whom  the Company has had a  continued  business
relationship since 1995.

The  Company, during the quarter ended March 31, 1999, pursuant its
interim   stock  purchase/loan  agreement  with  Global  Transmedia
Communications  Corporation  (GTCC) of  Miami,  Florida,  continued
efforts  to expand the Internet telephony service business of  GTCC
in domestic and foreign markets. Following its agreement with GTCC,
initial orders were announced by GTCC for the distribution and sale
of GTCC's telephony service to a distributor in Canada.

However, to date, GTCC has received only limited revenues from  the
Canadian  distribution  agreement, but is  pursuing  this  business
opportunity. Further, GTCC has recently introduced enhancements  to
its   Internet   telephony   business  service,   to   permit   its
subscribers/users to use GTCC's service world-wide. Initially,  its
services  were  largely limited to Internet  telephony  from  South
America   to  the  US,  but  with  the  new  enhancements,   GTCC's
subscribers  may access and place Internet telephony communications
of  full  voice, data, fax features to and from Asia, South America
and elsewhere, to the US or any other location. While to date, GTCC
has  generated only limited operating revenues, the Company has not
yet received any distributions from its arrangement with GTCC.

The  Company,  based upon the representations received  from  GTCC,
hopes  that  during  the second half of 1999, GTCC  will  begin  to
generate  revenues from operations with increased  subscriber  base
for  its Internet telephony business include prepaid calling  cards
at  very competitive rates. GTCC recently entered into an agreement
with  a  group  of telecommunication companies in Venezuela.  While
such  agreement  calls  for the purchase  of  a  minimum  2,100,000
minutes, and up to 3,900,000 minutes in calling volume, with annual
revenues  of  up to $780,000, GTCC's ability to generate  operating
revenues which ability is dependent upon GTCC's capacity to satisfy
the  potential customer requirements in its markets of which  there
can be no assurance

The  Company continues to be dependent upon the willingness of  the
Company's  executive  officers/directors  and  its  consultants  to
accept  shares  as  compensation  for  continued  services  to  the
Company,  which services the Company considers to be  valuable  and
necessary to its continued operations.

Liquidity and Capital Resources
-------------------------------
The  Company,  at  June  30, 1999, had current  assets  of  $7,484,
compared to current assets of $59,603 at June 30, 1998, and current
assets  of  $3,016 at the year  ended December 31, 1998. To  assist
the  Company  in  its cash  flow requirements which  are  presently
estimated  at  $5,000 per month, the Company has generated  $52,000
from the exercise of options through June 30, 1999. The Company may
determine, depending upon the prevailing stock price of its shares,
to  seek  subscriptions  from the sale  of  securities  to  private
investors,  although  there can be no assurance  that  it  will  be
successful  in  securing any investment from private  investors  at
terms  and conditions satisfactory to the Company, if at  all.  The
Company  may  also seek to generate revenues from the  exercise  of
options,  at  terms  to be negotiated. The Company  also  hopes  to
receive  revenues  from  sales of Internet telephony  products  and
services  in  South  America,  through  GTCC,  and  from  sales  of
pharmaceutical products in West Africa, dengue fever test  kits  in
South  America.  The amount of such sales revenues cannot  at  this
time be determined.

The  Company must conclude at satisfactory terms and conditions the
extension  of its consulting relationship with ETLC,  in  order  to
secure the benefit it hopes to derive from pharmaceutical sales and
dengue fever test kit sales. The consulting arrangement with  ETLC,
which  commenced in 1995, and was extended in November 1998 through
June,  1999, is presently being discussed and the Company  believes
that  it  will successfully conclude such negotiations  during  the
third quarter of 1999.

Based  upon  the  Company's  present liquid  resources,  after  the
expenses  that  were paid by the Company following receipt  of  the
proceeds from the exercise of options during the second quarter  of
1999,      which      expenses     include     office      expense,
professional/accounting fees, transfer agent and  printing  service
fees, and telecommunications costs, among other expenses, and based
upon  its  present  operating expenses of  $5,000  per  month,  the
Company  will be able to operate for approximately four months,  if
no  revenues  are  generated  from  operations  or  other  sources.
However,  the  Company anticipates receipt of  increased  operating
revenues  during the second half of 1999, as a result the  business
developments  by GTCC, as well as revenues from pharmaceutical  and
medical product sales.

The  Company's  monthly operating expenses of approximately  $5,000
during the three and six month periods ended June 30, 1999, include
rent  for executive office space in Hickory, NC. ETLC has continued
to  provide  the Company with the use of conference facilities  for
its  Investor Relations offices at Rockefeller Center in NYC (  the
arrangement with ETLC provides that there will be no rent costs  to
the   Company  for  use  of  the  space  at  Rockefeller   Center),
professional /accounting  fees, telephones, but do not reflect  any
salary  to  Dr.  Jerrold  R. Hinton, the Company's  sole  executive
officer,  which salary has been accrued at the rate of  $8,333  per
month,  but  not paid. The Company does not contemplate  commencing
payment  to Dr. Hinton of the monthly salary of $8,333.33  provided
in  his employment agreement unless and until it begins to generate
positive cash flow from operations.


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

Item 1.Legal Proceedings

       See Item 3. Legal Proceedings, in the Company's Annual
       Report on Form 10-KSB/A for the year ended December 31, 1998.

Item 2.Changes in Securities

       NONE

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


EXHIBIT 27


ARTICLE 5
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE BALANCE SHEET (UNAUDITED) AND THE OPERATIONS FOR THE PERIOD
ENDED JUNE 30 1999 (UNAUDITED) AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.

                           SIGNATURES
                           ----------
       In accordance with the requirements of the Securities
Exchange Act of 1934, the registrant caused this report caused this
report to be signed on its behalf by the undersigned, thereunto
duly authorized.


                              AMERICAN DIVERSIFIED GROUP, INC..
                              (Registrant)



August 10, 1999
                              By:  /s/Jerrold R. Hinton
                                   Jerrold R. Hinton
                                   President, Chief Executive Officer
                                   and Chief Financial Officer



                AMERICAN DIVERSIFIED GROUP, INC.
                FORMERLY TERA WEST VENTURES, INC.
                  (A DEVELOPMENT STAGE COMPANY)
                      FINANCIAL STATEMENTS
                           (UNAUDITED)
                          JUNE 30, 1999

                                                          Page


Balance Sheet                                             F-1

Statements of Operations                                  F-2

Statements of Cash Flows                                  F-4

Notes To Financial Statements                             F-6




                AMERICAN DIVERSIFIED GROUP, INC.
                FORMERLY TERA WEST VENTURES, INC.
                  (A DEVELOPMENT STAGE COMPANY)
                      FINANCIAL STATEMENTS
                           (UNAUDITED)
                          JUNE 30, 1999








               AMERICAN DIVERSIFIED GROUP, INC.
                FORMERLY TERA WEST VENTURES, INC.
                  (A DEVELOPMENT STAGE COMPANY)
                          BALANCE SHEET
                    (UNAUDITED) JUNE 30, 1999


<TABLE>
<CAPTION>
<S>                                     <C>         <C>
                                           JUN 30,   DEC 31,
                                             1999     1998
                                         (UNAUDITED) (AUDITED)

ASSETS

CURRENT ASSETS
    Cash                                   US$4,498     US$30
    Refundable taxes                          2,986     2,986
                                              -----     -----
        TOTAL CURRENT ASSETS                  7,484     3,016
                                              -----     -----
PROPERTY AND EQUIPMENT (net of $9,055         7,794     8,753
accum. depr.)                                 -----     -----

OTHER ASSETS
    Deposits                                    570       570
    Contractual advances to acquire
    common stock                            270,350   222,350
    Miscellaneous receivable (less             -         -
    $100,000 allowance)
                                            -------   -------
        TOTAL OTHER ASSETS                  270,920   222,920
                                            -------   -------
TOTAL ASSETS                            US$286,198 US$234,689
                                        ========== ==========

LIABILITIES AND DEFICIENCY IN ASSETS

LIABILITIES
    Accounts payable                      US$17,297 US$15,174
    Accrued expenses and other
    liabilities                                 746    11,523
    Accrued salary payable to officer       275,000   225,000
    Notes payable - stockholders            199,421   215,671
                                            -------   -------
        TOTAL CURRENT LIABILITIES           492,464   467,368
                                            -------   -------

DEFICIENCY IN ASSETS
   Preferred stock, Series A, $10 par
    value,50,000 shares authorized;
    none outstanding                           -         -
   Common stock, $.001 par value,
    350,000,000 shares
    authorized;  254,637,560 shares
    issued and outstanding;
    and 230,762,560 shares  issued and      254,637   230,762
    outstanding                             254,637   230,762
    Additional paid-In capital           18,525,74418,224,619

    Deferred consulting fees                (31,602) (397,160)
    Deficit accumulated prior to         (8,811,789)(8,811,789)
    development stage
    Deficit accumulated during         (10,143,256)(9,479,111)
    development stage
                                          ---------  ---------
          TOTAL DEFICIENCY IN ASSETS      (206,266)  (232,679)
                                          ---------  ---------
TOTAL LIABILIT. A. DEFICIENCY IN ASSETS   $286,198   $234,689
                                          =========  =========
See accompanying notes.
</TABLE>
                               F-1


                AMERICAN DIVERSIFIED GROUP, INC.
                FORMERLY TERA WEST VENTURES, INC.
                 (A DEVELOPMENT STAGE COMPANY)
                       STATEMENT OF LOSS
                         (UNAUDITED)
                        JUNE 30, 1999
<TABLE>
<CAPTION>

<S>                         <C>         <C>         <C>         <C>         <C>                        CUMULATIVE
                                                                             DURING THE
                             FOR THE     FOR THE     FOR THE     FOR THE     DEVELOPMENT
                             6 MONTHS    6 MONTHS    3 MONTHS    3 MONTHS    STAGE
                             ENDED       ENDED       ENDED       ENDED       JAN 1, 1996
                             JUN 30,     JUN 30,     JUN 30,     JUN 30,     JUN 30,
                             1999        1998        1999        1998        1999
                             (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED)

REVENUES
    Sales                             0      66,422           0     13,672     137,191
    Costs of sales                    -      56,630           -     11,135     125,163
                                -------     -------     -------    -------   ---------
        GROSS MARGIN                  0       9,792           0      2,537      12,028
                                -------     -------     -------    -------   ---------
EXPENSES
    Consulting fees             574,808     790,342     182,779    232,971   9,265,623
    Officer's salary             50,000      50,000      25,000     25,000     275,000
    Professional fees            16,625      11,963      15,625      3,645     158,475
    Reimbursed consultants'
     expenses                         -           -           -          -     127,974
    Telephone                     5,787       6,286       4,403      3,293      60,075
    Other operating expenses     16,925      31,359      11,807     17,314     223,354
                                -------     -------     -------    -------  ----------
        TOTAL EXPENSES          664,145     889,950     239,614    282,223  10,110,501
                                -------     -------     -------    -------  ----------

LOSS FROM OPERATIONS           (664,145)   (880,158)   (239,614)  (279,686)(10,098,473)
                                -------     -------     -------    -------  ----------
OTHER INCOME (EXPENSE)
    Forgiveness of
     indebtedness                     -           -           -          -      50,000
    Gains on settlements              -           -           -          -       4,795
    Loss on abandonment of
     acquisitions                     -           -           -          -    (107,380)
    Other income                      -       7,802           -          -       7,802
                                -------     -------     -------    -------     -------
     NET OTHER INCOME(EXPENSES)       0       7,802           0          0     (44,783)
                                -------     -------     -------    -------     -------

NET LOSS                       (664,145)   (872,356)   (239,614)  (279,686)(10,143,256)
                                =======     =======     =======    =======  ==========

WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING
(PRIMARY AND FULLY DILUTED) 243,806,758 197,342,671 254,637,560 212,062,560 126,819,165
                            ----------- ----------- ----------- ----------- -----------

BASIC NET LOSS PER SHARE
(PRIMARY AND FULLY DILUTED)      (0.003)     (0.004)     (0.001)     (0.001)     (0.080)
                                  -----       -----       -----       -----       -----
See accompanying notes.
</TABLE>
                                       F-3
                     AMERICAN DIVERSIFIED GROUP, INC.
                     FORMERLY TERA WEST VENTURES, INC.
                      (A DEVELOPMENT STAGE COMPANY)
                         STATEMENTS OF CASH FLOWS
                              (UNAUDITED)
                              JUNE 30, 1998
<TABLE>
<CAPTION>
<S>                                 <C>        <C>        <C>
                                                           CUMULATIVE
                                    FOR THE     FOR THE    DURING THE
                                    6 MONTHS    6 MONTHS   DEVELOP STAGE
                                    ENDED       ENDED      JAN 1, 1996
                                    JUN 30,     JUN 30,    JUN 30,
                                    1999        1998       1999
                                    (UNAUDITED) (UNAUDITED)(UNAUDITED)

CASH FLOWS FROM OPERATING
ACTIVITIES
    Net loss                         (664,145) (872,356) (10,143,256)
    Adjustments to reconcile net
    loss to net
    cash provided by (used in)
    operating activities:
      Depreciation                       3,590     3,487      21,472
      Amortization of deferred         365,558   401,942   5,225,898
       consulting fees
      Loss on abandonment of                 -         -     107,380
       acquisitions
      Forgiveness of indebtedness            -         -     (50,000)
      Common stock exchanged for       225,000   388,400   4,084,957
       services
    (Increase) decrease in assets:
      Accounts receivable                    -    23,500           -
      Inventory                              -         -       5,000
      Other assets                           -   (18,633)          -
    Increase (decrease) in
      liabilities:
      Accounts payable and accrued      41,346    60,852     275,216
       liabilities
                                       -------   -------     -------
NET CASH PROVIDED BY (USED BY)
     OPERATING ACTIVITIES              (28,651)  (12,808)   (473,333)
                                       -------   -------    --------
CASH FLOWS FROM INVESTING ACTIVITIES
  Acquisitions of property and          (2,631)   (2,124)    (12,315)
    equipment
  Payments for possible                      -              (107,380)
    acquisitions
  Deposits                                   -          -       (570)
                                        -------   -------   ---------
NET CASH USED BY INVESTING              (2,631)   (2,124)   (120,265)
  ACTIVITIES                            -------   -------   ---------

CASH FLOWS FROM FINANCING
ACTIVITIES
  Sales of common stock (net of         52,000   (6,000)     387,500
   brokers' fees)
  Proceeds (net) from notes payable    (16,250)  35,942      264,652
   to stockholders
  Payments on notes payable to               -        -      (40,000)
   potential investees
  Payments for loans receivable                 (15,000)     (15,000)
   f.potential investees
  Cash overdraft                             -        -            -
                                       -------  --------     --------
NET CASH PROVIDED BY (USED BY)
     FINANCING ACTIVITIES              35,750    14,942      597,152
                                       -------  --------     --------
NET INCREASE (DECREASE) IN CASH         4,468        10        3,554

CASH, BEGINNING                            30    11,069          944

CASH, ENDING                            4,498    11,079        4,498
                                       ======    ======      =======
See accompanying notes.
</TABLE>

AMERICAN DIVERSIFIED GROUP, INC.
(A Development Stage Company)

STATEMENTS OF CASH FLOWS
(Continued)
<TABLE>
<CAPTION>
<S>                                <C>         <C>       <C>
                                                           CUMULATIVE
                                                           DURING THE
                                    FOR THE     FOR THE    DEVELOPMENT
                                    6 MONTHS    6 MONTHS   STAGE
                                    ENDED       ENDED      JAN 1, 1996
                                    JUN 30,     JUN 30,    JUN 30,
                                    1999        1999       1999
                                    (UNAUDITED) (UNAUDITED)(UNAUDITED)

SUPPLEMENTAL DISCLOSURES

Cash paid for:
      Interest                             482            -        482
      Income taxes                           -            -          -

Cash and common stock given by
 shareholders to potential
 investee on behalf of the Company
 for notes payable                           -            -    167,358

In addition to amounts reflected
above, common stock was issued for:
        Contractual advances to         48,000            -     88,000
         acquire common stock
        Settlement of debt                   -            -      7,000
        Consulting services            225,000      996,400  8,892,400
                                       =======      =======  =========
</TABLE>

See accompanying notes.


NOTE 1 - BASIS OF PRESENTATION

The   accompanying  unaudited  financial  statements  reflect   all
adjustments, which, in the opinion of management, are necessary for
a  fair  presentation of the financial position and the results  of
operations  for the interim period presented.  All adjustments  are
of a normal recurring nature.

Certain  financial information and footnote disclosures  which  are
normally  included in financial statements prepared  in  accordance
with  generally accepted accounting principles, but which  are  not
required  for  interim reporting purposes, have been  condensed  or
omitted.  The accompanying financial statements should be  read  in
conjunction with the financial statements and notes thereto  as  of
December 31, 1998 contained in the Company's Form 10-KSB.


NOTE 2 - EARNINGS (LOSS) PER SHARE

Per  share  information is computed based on the  weighted  average
number of shares outstanding during the period.


                               F-6