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: September 30, 2000.

____ Transition Report Under Section 13 or 15(d) of the Securities Exchange Act
of 1934 for the Transition Period From ____ to ____

Commission file number: 0-24930

                             CTD HOLDINGS INC.
             (Exact name of registrant as specified in its charter)

        Florida                                       59-3029743
  (State or other jurisdiction                      (IRS Employer

of incorporation or organization)                Identification No.)

   3713 S.W. 42nd Avenue, Suite 3, Gainesville, Florida, 32608-6581
 (Address of principal executive offices)                 (Zip Code)

          Issuer's telephone number, including area code: 352-375-6822

   Former name, former address and former fiscal year, if changed since last
   report: N/A.

     Check whether the issuer (1) has filed all reports  required to be filed by
Section 13 or 15(d) of the Exchange  Act 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. Yes

     Applicable only to issuers  involved in bankruptcy  proceedings  during the
preceding five years

     Check whether the  registrant  filed all documents and reports  required to
befiled by Section 12, 13 or 15 (d) of the Exchange  Act after the  distribution
ofsecurities under a plan confirmed by a court. No.

Applicable only to corporate issuers

     As of November 10, 2000, the Company had  outstanding  3,979,195  shares of
its common stock.

Transitional Small Business Disclosure Format
(Check One):

 No.
<PAGE>

PART I:  Financial Information

            CTD HOLDINGS INC. CONSOLIDATED BALANCE SHEET (Unaudited)
                                                                    ASSETS

                                                               September 30,2000
                                                                 --------------
CURRENT ASSETS

 Cash and cash equivalents                                         $        -
 Accounts receivable                                                   54,044
 Inventory                                                             60,576
 Deferred tax asset                                                    15,000
 Notes receivable                                                      20,603
 Other current assets                                                  20,520
                                                                  ------------
     Total current assets                                             170,743

                                                                  ------------
Property and equipment, net                                           436,028

                                                                  ------------
OTHER ASSETS

     Intangibles, net                                                  26,172
     Deferred tax asset                                               180,000
                                                                  ------------
         Total other assets                                           206,172

                                                                  ------------
TOTAL ASSETS                                                       $  812,943
                                                                  ============

                                   (continued)

                                                        F-1

<PAGE>






                               CTD HOLDINGS, INC.
                           CONSOLIDATED BALANCE SHEET

                                   (Unaudited)


                      LIABILITIES AND STOCKHOLDERS' EQUITY

                                                             September 30, 2000

                                                             ------------------
CURRENT LIABILITIES

 Accounts payable and accrued expenses                            $    188,117
 Current portion of long-term debt                                      26,003
 Line of Credit                                                         25,501
 Due to Shareholder                                                     13,175
                                                                 -------------
                 Total current liabilities                             252,796

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

Long-Term debt, less current portion                                   179,309

                                                                 -------------
STOCKHOLDERS' EQUITY

 Class A common stock, par value $.0001 per share,
   9,900,000 shares authorized, 3,835,958 shares issued
   and outstanding;  Class B non-voting common stock, par
   value $.0001 per share, 10,000,000 shares authorized,
   0 shares issued and outstanding                                         384

 Additional paid-in capital                                          1,883,519
 Accumulated deficit                                                (1,503,065)

                                                                 --------------
     Total stockholders' equity                                        380,838

                                                                  -------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                        $    812,943
                                                                  =============

                See Accompanying Notes to Financial Statements

                                      F-2

<PAGE>

<TABLE>
                                                                                 CTD HOLDINGS, INC.
                                                                  CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

                                                     Three Months Ended               Nine Months Ended
                                                       September 30,                    September 30,
                                                     ----------------------          ----------------------
<S>                                                  <C>         <C>                 <C>         <C>
                                                           2000        1999                2000        1999
                                                     ----------  ----------          ----------  ----------
PRODUCT SALES                                        $  76,302   $  125,810          $ 313,130   $  399,060

COST OF PRODUCTS SOLD                                                18,664             19,199       94,556       44,984
                                                     ----------  ----------          ----------  ----------
GROSS PROFIT                                             57,638     106,611             218,574     354,076

CONSULTING SERVICES AND OTHER                                -          431                  -        8,221
OPERATING REVENUE

SELLING, GENERAL AND                                    122,179     105,067             407,561     287,900
ADMINSISTRATIVE EXPENSE
                                                     ----------  ----------          ----------  ----------
INCOME(LOSS)FROM OPERATIONS                            (64,541)       1,975           (188,987)      74,397
                                                     ----------  ----------          ----------  ----------

OTHER INCOME (EXPENSE)

Investment and other income(loss)
                                                           (159)       2,308               118         (695)
Interest expense                                         (3,224)      (4,952)          (14,633)      (5,826)
                                                      ----------  ----------          ----------  ----------
   Total other income (expense)
                                                         (3,383)      (2,644)          (14,515)      (6,521)
MINORITY INTERESTS IN                                         -        1,239                 -        1,558
SUBSIDIARY                                             ---------   ----------          ---------   ----------

INCOME(LOSS)BEFORE INCOME TAX
                                                        (67,924)         570          (203,502)      69,434

INCOME TAX EXPENSE                                            -            0                 -       17,000
                                                     -----------  ----------          ----------  ----------
NET INCOME (LOSS)                                     $ (67,924)   $     570          $(203,502)  $  52,434
                                                     ===========  ==========          ==========  ==========
NET INCOME (LOSS) PER
COMMON SHARE                                          $    (.02)   $    0.00          $    (.06)  $    0.03
                                                     ===========  ==========          ==========  ==========WEIGHTED AVERAGE
NUMBER OF
COMMON SHARES OUTSTANDING
                                                      3,763,440    1,551,577          3,639,392   1,516,724
                                                     ===========  ==========          ==========  ==========
                                                                   See Accompanying Notes to Financial Statements
</TABLE>
<PAGE>
                                     F-3
<TABLE>


                               CTD HOLDINGS, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                Increase (Decrease) in Cash and Cash Equivalents
                                   (Unaudited)
                                                         Nine Months Ended
                                                           September 30,
                                                     --------------------------
                                                        2000            1999
                                                     ------------  ------------
<S>                                                  <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES

 Net income (loss)                                   $ (203,502)   $    52,434
                                                     ------------  ------------
 Adjustments to reconcile net income (loss) to net cash
  provided by (used for) operating activities:

  Depreciation and amortization                          16,444         10,923
  Minority interests in subsidiary                            -         (1,558)
  Loss on sale of investments                                 -          3,122
  Stock issued for services                              30,000         23,656
  Increase in accounts receivable                       (32,780)       (59,083)
  Decrease (increase) in inventory                       24,673        (57,675)
  Decrease (increase) in other current assets            25,500        (15,468)
  Decrease in deferred income taxes                           -         17,000
  Increase in accounts payable and
   accrued expenses                                     129,351         61,521
                                                     ------------  ------------
        Total adjustments                               193,188        (17,562)
                                                     ------------  ------------
NET CASH PROVIDED BY (USED FOR)
 OPERATING ACTIVITIES                                   (10,314)        34,872
                                                     -----------  -------------
CASH FLOWS FROM INVESTING ACTIVITIES

 Purchase of property and equipment                     (105,687)     (116,012)
 Repayment of employee loan                               15,387             -
 Proceeds from sale of investment                              -        10,261
                                                      ------------  -----------
NET CASH USED IN INVESTING ACTIVITIES                   (90,300)      (105,751)
                                                     ------------  ------------
CASH FLOWS FROM FINANCING ACTIVITIES

 Proceeds from long term debt                                 -         32,494
 Payments on long term debt                             (18,243)       (29,043)
 Net proceeds on line-of-credit                          22,207              0
 Payments on loan payable to stockholder                 (6,775)             0
 Proceeds from sales of stock                            30,000         44,721
 Stock repurchase                                             -         (6,389)
                                                     ------------  ------------
NET CASH PROVIDED BY FINANCING ACTIVITIES                27,189
41,783
     ------------  ------------
NET DECREASE IN CASH AND CASH EQUIVALENTS               (73,425)       (29,096)

CASH AND CASH EQUIVALENTS, beginning of period           73,425         36,883
                                                     ------------  ------------
CASH AND CASH EQUIVALENTS, end of period             $        -    $     7,787
                                                     ============  ============
</TABLE>

                                  (Continued)

                                      F-4
<PAGE>


        CTD HOLDINGS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWSIncrease
                     (Decrease) in Cash and Cash Equivalents
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                           Nine Months Ended
                                                              September 30,
                                                     --------------------------
                                                        2000            1999
                                                     ------------  ------------
<S>                                                  <C>          <C>
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period for interest             $    14,633   $      4,952
                                                     ============  ============
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND
 FINANCING ACTIVITIES

Purchase of Land, building and equipment with
 debt financing                                      $    13,160   $    204,756
                                                     ===========   ============
Acquisition of goodwill by issuing common stock      $    10,000   $     14,000
                                                     ===========   ============
Common Stock issued for services                     $    30,000   $         -
                                                     ===========   ============
Stock issued to officer in satisfaction of bonus
 Accrual                                             $     7,800   $         -
                                                     ==========    ============
Stock issued to consultant for prepaid public
 relations services                                  $   40,000    $         -
                                                     ==========    ============
</TABLE>

                 See Accompanying Notes to Financial Statements

                                     F-5

<PAGE>

                               CTD HOLDINGS, INC.
           NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2000(Unaudited)

     The information  presented herein as of September 30, 2000, and for the six
and nine months ended September 30, 2000, and 1999, is unaudited.

(1)   BASIS OF PRESENTATION:

The accompanying  financial  statements  include CTD Holdings,  Inc.,  (formerly
known as Cyclodextrin Technologies Development, Inc.) and its subsidiaries.

The  accompanying  financial  statements  have been prepared in accordance  with
generally accepted accounting  principles for interim financial  information and
with the  instructions  to Form  10-QSB  and  Rule  10-01  of  Regulations  S-X.
Accordingly,  they do not include all of the information and footnotes  required
by generally accepted accounting  principles for complete financial  statements.
In the opinion of management,  all  adjustments  (consisting of normal  required
adjustments) considered necessary for a fair presentation have been included.

     Operating results for the three and nine month period's ended September 30,
2000, are not necessarily indicative of the results that may be expected for the
year ending December 31, 2000. For further  information,  refer to the financial
statements and footnotes thereto included in the Company's annual report of Form
10-KSB for the year ended December 31, 1999.

(2)  PRIVATE PLACEMENT OF STOCK:

     Beginning in 1999, the Company began  offering a total of 1,300,000  shares
of common stock under a private  placement  memorandum  to expire  September 10,
2000. In 1999,  40,000 shares were sold for $15,000,  less direct offering costs
of $ 5,279.  For the nine months ended  September  30, 2000,  20,000 shares were
sold for $ 30,000.

     In 1999, the Company also sold 160,000 of common stock for $35,000.

(3) NET LOSS PER COMMON SHARE:

     Net loss per common share is computed in accordance  with the  requirements
of Statement  of Financial  Accounting  Standards  No. 128 (SFAS 128).  SFAS 128
requires net loss per share  information to be computed using a simple  weighted
average of common  shares  outstanding  during the periods  presented.  SFAS 128
eliminated the previous  requirement  that earnings per share include the effect
of any dilutive common stock equivalents in the calculation.




                                       F-6
<PAGE>





                               CTD HOLDINGS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2000
                                  (Unaudited)

(4)    COMMITMENTS AND CONTINGENCIES:

     On March 1, 2000,  the  Company  entered  into a one year  public  relation
contract with a consultant.  The Company issued the consultant 200,000 shares of
common stock. The Company valued the shares at $40,000,  approximately  50% less
than the bid price on the contract date. The Company recorded a prepaid asset of
$40,000, which is being amortized over one year, the life of the contract.

     On April 1, 2000, the Company  adopted a stock bonus plan for the Company's
president.  The amount of stock due each month is equal to $5,000 divided by 50%
of the lowest  stock trade  amount for that month.  The  Company  issued  75,566
shares and  expensed,  $15,000 and  $30,000  during the three  months,  and nine
months ended September 30, 2000.

(5) CORPORATE CHANGES:

     In April 2000,  the Company  changed its name to CTD  Holdings,  Inc.  from
Cyclodextrin Technologies Development, Inc.

     Also in April  2000,  the  Company  effected  a 2 for 1 stock  split of its
outstanding common stock.

     The accompanying  financial statements and notes have been restated for all
periods presented to reflect these changes.

(6) SEGMENTS:

During  the  second  quarter  of 1999,  the  Company  began  cultivating  exotic
mushrooms and herbs. The Company now has two segments, Cyclodextrin products and
mushroom products. Information specific to these two segments follows:
<TABLE>

                                         Nine Months Ended
                                           September 30,
                 ---------------------------------------------------------------
                            2000                                   1999
                 -----------------------------  --------------------------------
<S>               <C>               <C>               <C>               <C>
                 Cyclodextrins     Mushrooms         Cyclodextrins     Mushrooms
                 -------------     ---------         -------------     ---------

Sales            $  289,052        $  24,078         $    399,060     $     -

Income (loss)
 from operations $    4,998        $(208,500)        $     74,397     $     -

                      September 30, 2000
                      -------------------
                 <C>               <C>
                 Cyclodextrins     Mushrooms
                 -------------     ---------
Total assets     $   425,000       $ 388,000

</TABLE>

                                                           F-6

<PAGE>

Item 2. Management Discussion and Analysis or Plan of Operation
PART II: Other Information
(MD&A) Management Discussion & Analysis As of 9/30/00

                                CTD Holdings, Inc.

Liquidity and Capital Resources

     As of September  30, 2000,  the  Company's  working  capital was  ($82,053)
compared to $120,186 at December 31, 1999. Working capital continued to decrease
as a result of  continued  losses in the third  quarter  ($68,000);  however the
magnitude of the third  quarter  loss was reduced  significantly  (41%)from  the
second quarter loss  ($115,500.  This loss reduction came about as a result of a
$20,000 reduction in expenses (primarily personnel costs) and a $20,000 increase
in sales over the previous quarter. Management intends to maintain this trend of
increasing product sales and decreasing expenses in the fourth quarter, with the
goal of achieving a near positive working capital situation by year end 2000.

     The Company operates two business segments, cyclodextrin products (CTD) and
mushroom  cultivation (NSME). The Company continues to experience  volatility in
CTD sales.  The Company's CTD sales at September 30, 2000  ($289,000)  were only
72% of 1999 sales  ($399,000),  but  management  forecasts  that a strong fourth
quarter  will  allow  the  Company  to  achieve  total  sales for 2000 to exceed
$400,000  but to be less  than  1999  total  sales of  $557,000.  Combined  with
continued  reduction  in  expenses,  management  expects  CTD sales to  increase
coupled with  increased  revenue from NSME sales for the  remainder of 2000,  to
improve liquidity.

     The Company has completed a preliminary analytical study of the ingredients
in its Shiitake and Reishi mushrooms  extracts.  The goal of these studies is to
prove the existence in these extracts of certain  natural  ingredients  that are
known to have medicinal  properties.  Depending on the conclusions reached after
evaluating the results of these analytical  experiments,  the Company hopes that
it will be able to move to the next phase of its project to create  complexes of
these natural ingredients and begin clinical trials.

     The Company is in the first year of a two year  extension  of its lease for
its  existing  3000  square-foot  office  and lab  facility.  Rent for the space
remains at just under $2000 per month.  The Company will  probably not move from
this facility into the building on its newly purchased property until 2001. Part
of the office  staff has already  moved to the new  facility.  The timing of the
completed move will depend on the  availability / allocation of funds  necessary
to complete the needed  renovations.  The Company intends to sublet its existing
space  when that move is  completed,  certainly  before  the end of the two year
extension, November, 2001.
<PAGE>
     In keeping with its commitment to use the Internet as its major advertising
and public relations outlet,  the Company has entered into an agreement with its
current,  local ISP and Web Site managing  company,  Livewire,  to significantly
upgrade its current Web Site. The Company has invested $30,000 for this upgrade,
which includes substantial cosmetic and operational alterations and expansion of
the revenue producing databases. The upgraded site became "live" in late October
replacing  the old site. As a result of this  upgrade,  the Company  expects the
site to begin generating revenue of approximately  $1000 per month by the end of
the year.

     In early May of this year,  the Company  responded to increased  demand for
its stock by authorizing and  implementing a 2 for 1 forward split of its common
stock  (May 1 - date of  record;  May 20 - pay  date;  May 22 -  execute  date).
Management  believes  that this action is a good way to begin to  alleviate  the
mechanical  trading  problem  of too small a float in the  market of its  common
stock.   Management   believes  that  an  increase  in  the   Company's   market
capitalization  will  enhance  the  probability  of  the  Company's  success  in
acquiring other  companies,  implementing one part of its strategic plan to file
for NASDAQ listing in 2001.


     To further enhance the successful implementation of its strategic plan, the
Company changed the name of Cyclodextrin Technologies  Development,  Inc. to CTD
Holdings,  Inc. New stock symbol (CTDH).  The Company  created a new subsidiary,
Cyclodextrin  Technologies  Development,  Inc. (CTD) to operate its cyclodextrin
business entity.  The Company's other  subsidiary,  NSME, Inc. (NSME) operates a
mushroom   cultivating  farm.  The  resulting  holding  company  structure  will
facilitate  the  legal   implementation   of  future   acquisitions   and  stock
transactions.

Results of Operations

     Sales of cyclodextrin and related  manufactured  complexes are historically
highly volatile. In efforts to offset this volatility,  the Company continues to
expand its revenue  producing  activities in CD related research and development
services for unrelated  companies and expand its line of manufactured  products.
During the last  quarter of 1999,  the Company  began the start up of a mushroom
farm that will ultimately  provide products for the rapidly expanding $5 billion
natural medicinals industry,  thereby diversifying its revenue base into an even
greater number of manufactured products.

     The Company has  completed  the  start-up  phase of its natural  medicinals
venture on its 40-acre farm in High Springs,  Florida acquired in 1999. Through
its subsidiary,  NSME, Inc. (NSME),  the company has successfully  established a
growing  sales base for its edible  exotic  mushrooms.  In the third  quarter of
2000,  NSME sold more than $9,000 of certified  organic  Shiitake  mushrooms and
produce.  At the end of July,  NSME had one of two new grow houses on line for a
total of three;  the fourth grow house became  operational in early August.  The
added  capacity  will allow the Company to produce  2,000 lbs. of mushrooms  per
month by the end of 2000. The Company has instituted a new management  structure
that is responsible for meeting prescribed  production quotas and is undertaking
a new  investigation  of the demand that can be expected  over the next two year
for its mushroom production.

     Total product sales increased from $55,000 in the second quarter to $76,630
in the third  quarter of 2000;  however,  year to date sales are only 78% of the
sales total for the nine months of 1999.  Again,  the  volatility of CTD's sales
continues to be unpredictable and primarily responsible for the decrease.  Sales
of CTD  products for the fourth  quarter are expected to exceed  $100,000 . Even
so,  management  expects to reach only 80-85% of 1999 sales  levels for the year
2000.

     Product  sales  of CTD are  primarily  to  large  pharmaceutical  and  food
companies  for research and  development  purposes.  Sales of both  products and
services continue to be concentrated among a few large customers.

     Sales of NSME  products  are  currently  to local  restaurants  and produce
distributors.  The demand by these  users will exceed  NSME's  ability to supply
them for the  immediate  future.  Even so, NSME is beginning  to  introduce  its
products to national distributors and larger supermarkets.  NSME is also selling
its exotic  mushrooms  through an Internet portal at  www.mushroomshoppe.com  to
high-end customers including one 5-star restaurant.
<PAGE>
     The Company's  gross profit margin (GPM)  increased from the second quarter
(57 %) to the third quarter (75%);  however, for the nine months ended September
30,2000, the GPM was 69% versus 89% for the same period in 1999 This decrease is
due to a combination of a change in the Company's product mix from 1999 to 2000,
and as a result of lower  margins on the NSME  products.  The  Company  does not
expect its GPM to decrease  below 50% for the  remainder  of 2000 as a result of
these changes. SG&A expenses decreased ($121,179, vs. $ 142,399) from the second
quarter  2000 to the  third  quarter  2000.  SG&A for  2000 is up  significantly
compared to 1999 due to the addition of the NSME  operations at the end of 1999.
Management  intends to use the  existing  levels of expenses as a  not-to-exceed
target for future growth of subsidiaries and addition of new subsidiaries.

     The Company's  operating loss for the three months ended September 30, 2000
was $67,924  compared to the loss of $115,726 for the three  months  ending June
30,2000. The decrease in loss is due to the slight increase in sales experienced
by CTD from the  second  quarter  to the third  quarter  ($55,000  vs.  $76,630)
combined with the $20,000 reduction in expenses  (primarily  personnel costs)for
the same period.  The Company had a loss of ($203,502) for the nine months ended
September  30, 2000  compared to net income of $52,434 for the nine months ended
September 30, 1999. The primary reason for the decrease in  profitability is due
to the impact of start-up of the NSME  operations  beginning at the end of 1999.
Management has moved NSME out of the start-up phase into the operating phase and
will maintain  expenses at a level  necessary to support  efficient  operations;
combined  with  increased   revenues  from  greater   production  of  mushrooms,
management intends to reduce NSME's losses substantially during the remainder of
2000 to a level  that will  permit  the  company to realize a net profit for the
fourth quarter.

     The  Company  will   continue  to  introduce   new  products   through  its
subsidiaries that will enhance profitability;  and it will continue to implement
its strategy of creating or acquiring operational affiliates and/or subsidiaries
that   will   use   CD's   in   herbal   medicines,   waste-water   remediation,
pharmaceuticals, and foods.

Forward-looking Statements

     All statements  other than statements of historical fact in this report are
"forward-looking  statements"  as defined in the Private  Securities  Litigation
Reform Act of 1995, and are based on  management's  current  expectations of the
Company's  near  term  results,  based  on  current  information  available  and
pertaining to the Company.  The Company assumes no obligation to update publicly
any forward-looking  statement.  Actual results may differ materially from those
projected in the forward-looking  statements.  These forward-looking  statements
involve risks and uncertainties,  including,  but not limited to, the following:
demand  for  cyclodextrin  and  mushrooms;  changes  in  governmental  laws  and
regulations   surrounding  various  matters,   such  as  labeling   disclosures;
production and pricing levels of important raw materials;  and  difficulties  or
delays in the  development,  production,  testing  and  marketing  of  products;
product margins and customer product acceptance.

<PAGE>

Item 2.   Changes in Securities and Use of Proceeds

     The following  common shares were sold by the company on the date shown and
for the  consideration  stated in reliance on Section 4(2) of the Securities Act
of 1933:



<TABLE>

<S>                                    <C>                                <C>                         <C>

Shareholder                            No. Shares                         Consideration                Date

C.E. Rick Strattan                      32,051                            Bonus                        7/13/2000

C.E. Rick Strattan                      31,250                            Bonus                        8/5/2000

C.E.Rick Strattan                       35,461                            Bonus                        9/7/2000

C.E. Rick Strattan                      38,461                            Bonus                        10/3/2000

</TABLE>
<PAGE>

     Item 6. Exhibits and Reports on Form 8-K

None.

(a) Exhibits

Exhibit     Description                                                 Page

   (2)      Plan of Acquisition, Reorganization, Arrangement,
            Liquidation or Succession                                   None

   (4)      Instruments defining the Rights of Security Holders         None

  (10)      Material Contracts                                          None

  (11)      Statement re: Computation of Per Share Earnings            Note 3,
                                                                      Financial
                                                                     Statements

  (15)      Letter re: Unaudited Interim Financial Information          None

  (18)      Letter re: Change in Accounting Principles                  None

  (19)      Report Furnished to Security Holders                        None

  (22)      Published Report re: Matters Submitted to Vote of
            Security Holders                                            None

  (23)      Consents of Experts and Counsel                             None

  (24)      Power of Attorney                                           None

  (27)      Financial Data Schedule

  (99)      Additional Exhibits                                         None

(b) Reports on Form 8-K:                                                None

                                  SIGNATURES

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

CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT, INC.

SIGNATURE                           TITLE                          DATE

_______ /S/_______                  President,                 November 4, 1999
C.E. Rick Stratton                  Chief Officer,
                                    Chief Financial Officer