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: 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: 0-24930

                   CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT, 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 be
filed by Section 12, 13 or 15 (d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court. No.

Applicable only to corporate issuers

As of August 13, 1999, the Company had outstanding 1,550,110 shares of its
common stock.

Transitional Small Business Disclosure Format
(Check One):
 No.
<PAGE>


PART I:  Financial Information



                  CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT, INC.
                           CONSOLIDATED BALANCE SHEET
                                  (Unaudited)
                                     ASSETS
                                                                 June 30, 1999
                                                                 ______________
 CURRENT ASSETS
 Cash and cash equivalents                                        $     39,043
 Accounts receivable                                                   115,429
 Inventory                                                              64,720
 Deferred tax asset                                                     34,000
 Other current assets                                                    9,010
                                                                  ____________
     Total current assets                                              262,202
                                                                  ____________
PROPERTY AND EQUIPMENT                                                 296,685
                                                                  ____________
OTHER ASSETS
        Goodwill                                                        31,000
Deferred tax asset                                                     164,000
Loan Costs                                                               4,222
                                                                  ____________
Total other assets                                                     199,222
                                                                  ____________
TOTAL ASSETS                                                      $    758,109
                                                                  ============
                                  (Continued)

                                      F-1
<PAGE>

                  CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT, INC.
                           CONSOLIDATED BALANCE SHEET
                                  (Unaudited)
                                  (Concluded)
<TABLE>
<CAPTION>
                      LIABILITIES AND STOCKHOLDERS' EQUITY
                                                                                June 30, 1999
                                                                                ______________
<S>                                                                           <C>

CURRENT LIABILITIES
 Accounts payable and accrued expenses                                          $     89,271
 Current portion of long-term debt                                                    43,086
                                                                                ____________
                Total current liabilities                                            132,357
                                                                                ____________
Long-Term debt, less current portion                                                 198,386
                                                                                ____________
COMMON STOCK SUBJECT TO REPURCHASE, par value $.0001 per share,
 100,000 shares authorized,11,000 shares issued and outstanding                        1,660
                                                                                ____________

Minority interest in consolidated subsidiary                                           (319)
                                                                                ____________
STOCKHOLDERS' EQUITY
 Class A common stock, par value $.0001 per share,
  9,900,000 shares authorized, 1,530,110 shares
  issued and outstanding; Class B non-voting common
  stock, per value $.0001 per share, 10,000,000 shares
  authorized, 0 shares issued and outstanding                                            153
 Additional paid-in capital                                                        1,742,978
 Accumulated deficit                                                             (1,317,106)
                                                                                ____________
     Total stockholders' equity                                                      426,025
                                                                                ____________
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                      $    758,109
                                                                                ============
</TABLE>

                See Accompanying Notes to Financial Statements

                                      F-2
<PAGE>

                  CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT, INC.
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (Unaudited)

                                   Three Months Ended         Six Months Ended
                                         June 30,                 June 30,
                                 ______________________  ______________________
                                    1999        1998        1999        1998
                                 __________  __________  __________  __________

PRODUCT SALES                    $ 181,120   $   93,123  $  273,250  $ 137,407

COST OF PRODUCTS SOLD               13,512       33,433      25,785     42,100
                                 __________  __________  __________  __________
GROSS PROFIT                       167,608       59,690     247,465     95,307

CONSULTING SERVICES AND OTHER        1,290       10,000       7,790     10,000
OPERATING REVENUE

SELLING, GENERAL AND                68,660       40,208     182,833     97,737
ADMINSISTRATIVE EXPENSE           _________   _________   _________   _________

INCOME FROM OPERATIONS             100,238       29,482      72,422      7,570
                                  _________   _________   _________   _________
OTHER INCOME (EXPENSE)
Investment and other income(loss)       75          173      (3003)      2,705
Interest expense                      (608)      (1,141)      (874)     (1,994)
                                  _________   _________   _________   _________
   Total other income (expense)       (533)        (968)    (3,877)        711

MINORITY INTERESTS IN LOSS OF          319            0        319           0
SUBSIDIARY                        _________   _________   _________   _________
                                   100,024       28,514     68,864       8,281
INCOME BEFORE INCOME TAX

INCOME TAX EXPENSE                  17,000        1,600     17,000       1,600
                                  _________   _________   _________   _________
NET INCOME                        $ 83,024    $  26,914   $ 51,864    $  6,681
                                  =========   =========   =========   =========
NET INCOME PER COMMON
 SHARE                            $   0.05    $    0.02   $   0.04    $   0.01
                                  =========   =========   =========   =========
WEIGHTED AVERAGE NUMBER OF
 COMMON SHARES OUTSTANDING       1,522,175    1,225,110   1,383,269   1,225,462
                                 ==========  ==========  ==========  ==========


                See Accompanying Notes to Financial Statements

                                     F-3
<PAGE>

                  CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT, INC.
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
               Increase (Decrease) in Cash and Cash Equivalents
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                           Six Months Ended
                                                               June 30,
                                                     __________________________
                                                        1999              1998
                                                     ____________  ____________
<S>                                                  <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES
 Net income                                          $   51,864    $     6,681
                                                     ____________  ____________
 Adjustments to reconcile net income to net
  cash provided by operating activities:
   Depreciation and amortization                          5,756          7,141
   Minority interests in subsidiary                        (319)             -
   Loss (gain)on sale of investments                      3,122           (510)
   Stock issued for services                             23,656            675
   Decrease (increase)in accounts receivable           (103,734)        15,101
   Decrease (increase)in inventory                      (31,934)        (1,624)
   (Increase) in other current assets                    (5,945)           958
   Decrease in deferred income taxes                     17,000          1,600
   Increase in deferred offering costs                        -        (30,000)
   Increase in accounts payable and
    accrued expenses                                     52,214         14,464
                                                     ____________  ____________
        Total adjustments                               (40,184)         7,805
                                                     ____________  ____________
    NET CASH PROVIDED BY OPERATING
     ACTIVITIES                                          11,680         14,486
                                                     ____________  ____________
CASH FLOWS FROM INVESTING ACTIVITIES
 Purchase of property and equipment                     (80,886)        (3,732)
 Repayment of employee loan                                   -          1,642
 Proceeds from sale of investment                        10,261         17,227
 Purchases of investments                                     -         (8,202)
                                                     ____________  ____________
    NET CASH PROVIDED BY (USED IN)
 INVESTING ACTIVITIES                                   (70,625)         6,935
                                                     ____________  ____________
CASH FLOWS FROM FINANCING ACTIVITIES
 Proceeds from long term debt                            32,494              -
 Net payments on line-of-credit                               -         (7,377)
 Payments on investment margin account                        -         (8,318)
 Proceeds from loan payable to stockholder                    -         13,125
 Proceeds from sales of stock                            35,000              -
 Stock repurchase                                        (6,389)             -
                                                     ____________  ____________
    NET CASH PROVIDED BY (USED FOR)
 FINANCING ACTIVITIES                                    61,105         (2,570)
                                                     ____________  ____________
NET INCREASE IN CASH AND CASH EQUIVALENTS                 2,160         18,851

CASH AND CASH EQUIVALENTS, beginning of period           36,883          8,331
                                                     ____________  ____________
CASH AND CASH EQUIVALENTS, end of period             $   39,043    $    27,182
============  ============
</TABLE>

                                  (Continued)
                                      F-4
<PAGE>

                  CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT, INC.
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
               Increase (Decrease) in Cash and Cash Equivalents
                                  (Unaudited)
                                  (Concluded)
<TABLE>
<CAPTION>
                                                            Six Months Ended
                                                              June 30,
                                                     __________________________
                                                        1999           1998
                                                     ____________  ____________
<S>                                                  <C>          <C>
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period for interest             $      874    $     1,994
                                                     ============  ============
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND
 FINANCING ACTIVITIES
Purchase of Land, building and equipment with
debt financing                                       $  204,756     $        -
                                                     ===========    ===========
Purchase of goodwill with obligation to issue
common stock                                         $   31,000     $        -
                                                     ===========    ===========
</TABLE>

                See Accompanying Notes to Financial Statements

                                     F-5
<PAGE>

                   CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT, INC.
                          NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999
                                  (Unaudited)


The information presented herein as of June 30, 1999, and for the six and three
months ended June 30, 1999 and 1998, is unaudited.

(1) BASIS OF PRESENTATION:

The accompanying consolidated financial statements include the accounts of
Cyclodextrin Technologies Development, Inc. and its subsidiary and 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 recurring adjustments) considered necessary
for a fair presentation have been included.

Operating results for the six and three month periods ended June 30, 1999, are
not necessarily indicative of the results that may be expected for the year
ending December 31, 1999.  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, 1998.

(2) COMMITMENTS:

On July 7, 1994, the Company entered into a five year noncancelable operating
lease for office space, commencing November 1994.  The Company has an option to
rent additional space and a purchase option in which ten percent of the lease
payments may be applied to the purchase price.

Rent expense under the foregoing lease and all other operating leases was
$12,224 and $11,718 for the six months ended June 30, 1999 and 1998,
respectively.

The Company has other commitments as discussed in Note 6.

                                     F-6
<PAGE>

                   CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                 JUNE 30, 1999
                                  (Unaudited)


(3) COMMON STOCK SUBJECT TO REPURCHASE:

During 1994, the Company adopted a nonqualified employee stock issuance plan to
provide incentives to employees.  Stock issued under this plan is at the
discretion of the Board of Directors of the Company and bears a restrictive
legend.  All shares issued pursuant to this Plan must be held for a minimum of
two years and become fully vested after five years.  During the three year
period beginning on the first day of the third year after issuance and ending
five years after issuance, the Company shall purchase all or any part of the
shares from the employee upon the employee's written request; the purchase
price of the shares shall be 50% of the then current market value of the
shares.

The Company has reserved 100,000 of its 10,000,000 voting common stock shares
authorized to be used under this Plan.

The Company reflects its obligation to repurchase the stock as a liability
under the caption Common Stock Subject to Repurchase in the accompanying
financial statements.  Any change in the valuation of this account is recorded
as a gain or loss in the accompanying statement of operations.  The Company's
repurchase obligation for current employees is valued at 50% of the bid price
of the stock on the balance sheet date.  The Company's repurchase obligation
for stock held by former employees is valued at 50% of the bid price on the
date of the employee's termination.

                                      F-7
<PAGE>

                   CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 1999
                                   (Unaudited)

(4) MAJOR CUSTOMERS AND SUPPLIERS:

Sales to the three largest customers were approximately  58% and 67% of total
sales for the six months ended June 30, 1999 and 1998, respectively.

(5)LONG TERM DEBT:

The Company has a $25,000 line-of-credit with a local bank. The monthly minimum
payment is calculated based on the outstanding balance.  The interest rate
varies monthly at prime plus 3.5% (currently 11.25%). The credit line can be
canceled and payment of the outstanding amount due can be required on demand by
the bank at anytime.

The Company purchased land, buildings and equipment with a cost of $265,000 on
June 4, 1999.  The purchase was financed with a mortgage in the amount of
$186,472 and a note payable to the seller in the amount of $50,000.  The
mortgage is payable over fifteen years at a monthly payment of $1,782 including
interest at 7.95%.  The note payable to the seller is payable over two years at
a monthly payment of $1,591, including interest at 8.5%, with a $20,000 payment
due before August 4, 1999.



                                     F-8
<PAGE>

                   CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT, INC.
                          NOTES TO FINANCIAL STATEMENTS
                                 JUNE 30, 1999
                                  (Unaudited)

(6) INCOME TAXES:

The current tax provision is the amount of income taxes for the periods
presented expected to be reported on the Company's tax return.  The Company has
net operating loss carryforwards sufficient to offset current income taxes due.
However, the future benefit of these net operating loss carryforwards was
recognized in a previous period.  Therefore, no benefit has been recognized for
the periods presented.

(7) NET INCOME PER COMMON SHARE:

Net income per common share is computed in accordance with the requirements
of Statement of Financial Accounting Standards No.  128 (SFAS 128) at June 30,
1999 and 1998.  SFAS 128 requires net income 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.  Common shares outstanding do not include common stock
subject to repurchase.

(8) SUBSIDIARY:

The Company owns 98% of Natural Spirit Mushroom Enterprise, Inc. (NSME), which
was incorporated on May 7, 1999. All intercompany amounts have been eliminated
in consolidation.  The Company has offered 62,000 shares of its common stock to
investors and promoters of a predecessor company for their rights to certain
processes expected to be used by NSME.  This offer expires on September 1, 1999,
and converts to an option for the same number of common shares at $.50 per
share until December 31, 1999.

The Company has recorded goodwill and a liability in the amount of $31,000 for
this obligation.

NSME had no sales for the six months ended June 30, 1999.  On June 4, 1999, the
Company purchased land, buildings and equipment with a cost of $265,000 to
operate a mushroom farm and for Corporate offices.  NSME had not commenced
operations as of June 30, 1999.

NSME adopted a stock bonus plan whereby an officer of NSME can receive NSME
common stock owned by the Company if certain financial targets are met. The
stock bonus plan terminates June 1, 2001 unless extended by both the officer
and NSME.  The stock bonus is contingent on the Company fully completing its
current private placement of 650,000 shares of common stock and the officer
being in the employ of the Company for a minimum of two years and at the end of
each calendar year for which a stock bonus is due.  The officer will be awarded
100 shares of NSME stock owned by the Company for each $12,500 of net income
earned by NSME, in excess of net income required to repay intercompany loans
due to the Company.  Up to 2,000 shares (20% of NSME: outstanding stock) can be
awarded per year and the award is made annually for the prior year.  There were
no shares earned or due at June 30, 1999.

(9) STOCK REPURCHASE:

In April 1999, the Company repurchased 106,474 shares of its outstanding common
stock for $6,389.  These shares will be retired.  The Company has no plans to
repurchase additional shares.

(10) SEGMENTS:

During the second quarter of 1999, the Company began farming mushrooms.  The
Company now has two segments, Cyclodextrin products and mushroom products.
Total assets related to the mushroom farm were approximately $320,000 at June
30, 1999.  There were no sales of mushrooms and the net loss from the mushroom
operations was approximately $16,000 for the six months ended June 30, 1999.



                                      F-9


<PAGE>
Item 2. Management Discussion and Analysis or Plan of Operation

                     (MD&A) Management Discussion & Analysis

                                  As of 3/31/99

                                    CTD, Inc.



Management Discussion and Analysis

Liquidity and Capital Resources

As of June 30, 1999, the company's working capital was $ 129,845, compared to
($116,579) at the end of the first quarter. This increase is due to increased
sales and $10,000 additional capital from the stock offering less expansion
costs as described below.

Total product sales for the second quarter 1999 ($181,120) doubled the sales of
the first quarter of 1999 ($92,130), and also doubled the sales of the same
period in 1998 ($93,123). While general sales volatility as experienced
historically by the company is still a large contributor to these increases,
management believes that the increase is also due to the broadening of the
company's customer base and increased purchases by old customers in response to
the greater acceptance of CD's by US regulatory agencies.

The company's 5-year lease for its 3000 square feet of office and laboratory
space will expire in the fourth quarter of this year. Management is considering
its options to roll-over the lease, purchase the space, as well as moving to
space it already owns.

The company's Web site (cyclodex.com) has contributed to the company's increase
in CD product sales by providing companies and universities in the US and the
rest of the world a way to easily locate a source of CD supplies and technology.
The company has received limited response to its subscription service for its
patent database. As the company's financial resources grow, management will
allocate much needed additional human resources to the management, maintenance,
and upgrading of its Web Site. Management is firmly committed to an improved and
growing presence on the Internet.

The Company's total assets approximately doubled ($378,624-$758,109) from the
first quarter of 1999 as a result of strong sales performance and an acquisition
of property and equipment ($296,685).

In mid 1997, the company identified mushrooms as a natural product that could be
combined with its CD's to meet the need of consumers for natural medical
remedies. The Company has since begun to lay the groundwork for such a class of
products called alternative medicines, utilizing natural ingredients.

In the second quarter of 1999, CTD took another step in the implementation of
its strategy of growth and acquisition into complimentary market lines. Natural
Spirit Mushroom Enterprise, Inc. (NSME) incorporated in Florida and is 98% owned
by CTD. CTD made a direct investment of approximately $80,000 into NSME, with
funds coming from profits from operations and $50,000 in new CTD stock sold
between March and June of 1999 as part of an ongoing Regulation 505D offering.
The offering, if completely sold, will result in the issuance of 700,000 shares
of new CTD stock and the receipt by the Company of $1,312,500. As of June 30,
1999, $35,000 has been received pursuant to the offering. CTD plans continued
investment into NSME by loans for operating capital and by allowing NSME to
occupy real property acquired by CTD without payment. To this end, CTD purchased
real estate suitable for mushroom farming and for offices.

NSME acquired the rights to certain proprietary methods of exotic mushroom
cultivation, and will be operated as a mushroom production company. NSME
obtained these rights from a defunct mushroom producing company from CTD. The
investors and promoters of the predecessor company are expected to receive
62,000 shares of CTD stock. The Company expects to spend an additional $70,000
to $100,000 by year end to get NSME up to commercial production status. This
additional money is expected to come from continued operational profits and from
the proceeds of the ongoing Section 505D offering.

Management believes that the addition of NSME to the CTD structure has dual
benefits for the company. The direct benefit comes from the expectation that
NSME will become fully operational by year end, and will provide a less volatile
source of income from its sales of exotic mushrooms. The indirect benefit lies
complimentary nature of the respective products of CTD and NSME. The exotic
mushrooms and the expertise of NSME provide an excellent opportunity for CTD to
expand its own product line into dietary supplements utilizing the active
ingredients from the mushrooms and the cyclodextrins of CTD.

Results of Operations

Sales of cyclodextrins and related manufactured complexes are historically
highly volatile. In efforts to offset this volatility, the Company continues to
expand its revenue producing activities to include providing research and
development services for unrelated companies and expanding its inventory line to
include more routinely purchased products. To further dampen the volatility, the
company is also evaluating suitable acquisitions of companies that are
manufacturers of raw materials that can be combined with CD's to create
alternative medicines. While sales will continue to be volatile in the near
term, Management feels that these efforts will reduce the experienced volatility
and that total revenues will continue to grow.

Total product sales for the quarter ended June 30, 1999 were $181,120 compared
to $93,123 for the same period in 1998. The Company believes that such a large
increase in sales has resulted from a burst of demand created by recent
favorable regulatory rulings in the Food and Pharmaceutical industries.
Management expects the food industry's interest in cyclodextrins to continue due
to the Food and Drug Administration's (FDA) announcement in 1998 that Beta
cyclodextrin is now Generally Recognized as Safe (GRAS) in certain food related
applications. Product sales are primarily to large pharmaceutical and food
companies for research and development purposes. The Company cannot predict the
continued effect of this momentum, but sales to date continue strong.

Sales of both products and services continue to be concentrated among a few
large customers.

The Company's gross profit margin on product sales increased from 64% to 93% for
the second quarter of 1998 and 1999, respectively. This increase in gross profit
margin is due to the sale of more products with lower raw material costs than is
historically experienced by the Company. Management expects future gross profit
margins to return to historical levels.

Selling, general and administrative (SG&A) expenses for the second quarter 1999
($68,660 vs. $40,208) increased from the second quarter 1998. Such an increase
is to be expected to support increased sales activities. Also contributing to
the increase were expenses associated with professional fees incurred to
implement the property acquisition and expansion into the mushroom farming
operation. Management expects SG&A expenses to increase in the future in
response to the growth the Company is undergoing. Management intends to monitor
these "growth" expenses most carefully.

The Company reported a net profit from operations for the three months ended
June 30, 1999 of $83,024 versus $26,914 for the same period in 1998; the
increase is due to a substantial increase in sales and gross profit margin and
only a small increase in expenses. The Company will continue to develop new
products, and implement its strategy of creating operational affiliates that
will use CD's in herbal medicines, wastewater remediation, and pharmaceuticals.

Year 2000

Management has completed its evaluation of Year 2000 (y2k) issues on internal
computer systems. Management has also completed its initial assessment of y2k
issues related to the Company's external vendors and suppliers. The Company
relies on a few large customers and suppliers outside the United States, which
are believed to be at greater y2k risk than domestic companies with which the
Company does business. While there are no assurances that y2k issues will not
affect the Company, Management does not believe its internal or external y2k
issues, if any, will have a material effect on the Company's business, results
of operations, or financial condition. Although management has sought and
obtained assurances from its major suppliers and customers regarding operational
continuity in light of y2k problems, supply or demand interruptions in these key
relationships would cause a resulting interruption in the business of the
Company.

PART II: Other Information

Item 2.   Changes in Securities and Use of Proceeds

The Company issued shares to finance the startup of Natural Spirit Mushroom
Enterprises, Inc. (NSME).  NSME is a 98%-owned subsidiary of the Company.
These shares were sold pursuant to the exemptions from registration under
Regulation D and Section 4(2) of the Securities Act.  As of August 13, 1999,
the Company has raised $50,000 during this offering.  70,000 shares were sold
at $0.50 per share, and 20,000 shares were sold at $0.75 per share.

The Company purchased 106,474 shares of its outstanding common stock from Herman
Burkhardt in April 1999 for $6,389. These shares will be retired.

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
  (10.1)     Employment Agreement between NSME and John Lindsay
             dated June 1, 1999

  (11)      Statement re: Computation of Per Share Earnings            Note 8,
                                                                      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


<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.

(Registrant)     CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT, INC.

By (Signature and Title) /S/ C.E. Rick Stratton
                         C.E. RICK STRATTON, President
                         Chief Executive Officer, Chief Financial Officer

 Date: August 13, 1999