SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  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, 1995

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

     For the transition period from ________to ________

     Commission file number 0-21998

               PORTER MCLEOD NATIONAL RETAIL, INC.
(Exact name of small business issuer as specified in its charter)
                                
     Delaware                                     84-1195628
  (State or other jurisdiction of         (I.R.S. Employer 
  incorporation or organization)          Identification Number)

  5895 East Evans Avenue, Denver, Colorado      80222
 (Address of principal executive offices)    (Zip Code)

                          303-756-2227
        (Issuer's telephone number, including area code)
                                
                               N/A
 (Former name, former address and former fiscal year, if changed
                       since last report)
                                
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  past
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 X No __

Applicable only to corporate issuers:

As  of  August 17, 1995, the Registrant had outstanding 1,885,666
shares of its common stock, par value $.0001.

Item I. Financial Statements


              PORTER MCLEOD NATIONAL RETAIL, INC.
                         BALANCE SHEETS

<TABLE>
<CAPTION>
                                        December 31,        June 30,
                                           1994              1995
<S>                                         <C>               <C>
          Assets
Current Assets
 Cash                                  $ 236,583           $ 346,501
 Marketable securities                   348,384                   0
 Accounts receivable                   1,515,057           1,423,134
 Prepaid expenses                         23,411              57,836
 Costs & Earnings in excess of costs     904,177             273,727
 Other current assets                          0               1,836
     Total Current Assets              3,027,612           2,101,034
Property and Equipment
 Furniture & fixtures                     21,278              21,278
 Leasehold improvements                   34,634              34,634
                                          55,912              55,912
 Accumulated depreciation                 14,843              18,101
     Total Property and Equipment         41,069              37,811
Other Assets
 Notes receivable from affiliates        677,126             688,973
     Total Other Assets                  677,126             688,973

      Total Assets                    $3,745,807          $2,827,818

          Liabilities and Stockholders' Equity
Current Liabilities
 Accounts payable and accrued 
  expenses                            $2,044,057          $1,196,372
 Billings in excess of costs and
  earnings                                 4,245              94,942
 Income taxes                                  0                (976)
      Total Current Liabilities        2,048,302           1,290,338
Stockholders' Equity
 Common stock                                189                 189
 Additional paid-in capital            3,824,249           3,824,249
 Unrealized holding loss                 (51,212)                  0
 Accumulated deficit in retained
   earnings                             (744,002)         (1,066,214)
 International marketing contract     (1,331,719)         (1,220,744)
      Total Stockholders' Equity       1,697,505           1,537,480

      Total Liabilities and 
       Stockholders' Equity           $3,745,807          $2,827,818
</TABLE>


               Porter McLeod National Retail, Inc.
                        Income Statements
                           (Unaudited)
<TABLE>
<CAPTION>
                                
                                 Three Months Ended       Six Months Ended
                                06/30/94    06/30/95   06/30/94    06/30/95
<S>                                <C>        <C>         <C>         <C>
Contract revenues             $1,626,149   $2,143,198  $3,167,617  $2,243,707
Cost of revenues               1,584,480    2,061,614   3,074,071   2,010,548

     Gross Profit                 41,669       81,584      93,546     233,159

General and administrative
 expenses                        226,481      268,898     409,971     541,772

  Operating Income (Loss)       (184,812)    (187,314)   (316,425)   (308,613)

Other income (expense)            26,683       10,499      15,585     (13,599)

Net income (loss) before
  income tax                    (158,129)    (176,815)   (300,840)   (322,212)

Income tax benefit (expense)      53,764            0     102,286           0

   Net income                $  (104,365)  $ (176,815)  $(198,554)  $(322,212)
</TABLE>


               Porter McLeod National Retail, Inc.
                     Statement of Cash Flows
                           (Unaudited)

<TABLE>
<CAPTION>                                
                                   Three Months Ended       Six Months Ended
                                  06/30/94     06/30/95   06/30/94    06/30/95
<S>                                  <C>          <C>          <C>        <C>
Net profit after tax            $(104,365)    $(176,815)  $(198,554)  $(322,212)
Add: Depreciation & 
      Amortization                 37,292        57,118      38,834     114,235
 Income Statement Cash Flow       (67,073)     (119,697)   (159,720)   (207,977)

Change in assets and Liabilities:
 Accounts receivable              403,640      (713,398)      73,410    399,366
 Prepaids                        (236,633)        7,550     (260,624)   (34,425)
 Other receivables               (147,906)     (217,792)    (167,655)  (305,443)
 Other current assets             528,643        18,135       54,683    628,614
 Accounts payable                (153,887)      736,885      442,398   (826,845)
 Accrued expenses                 (12,278)       (6,846)      (5,143)   (20,840)
 Taxes payable                    (89,834)          506      (97,657)      (976)
 Other current liabilities         12,759        58,175      (26,204)    90,697

   Operating Cash Flow            237,431      (236,482)    (146,512)  (277,829)

Investing activities:
 Marketable securities            (30,610)            0      (42,600)   348,384
 Fixed assets                           0             0       (1,765)         0
 Intangible assets                (35,750)      (55,489)     (35,750)  (110,977)
 Other non-current assets           5,700        10,829      (41,300)   (11,847)

 Investing Cash Flow              (60,660)      (44,660)    (121,415)   225,560

Financing activities:
 Capital stock                  2,266,250             0    2,266,250          0
 Adjustment to retained
  earnings                     (1,824,579)       52,789   (1,799,215)   162,189
          
 Financing Cash Flow              441,671        52,789      467,035    162,189

Beginning Cash                   $ 68,739     $ 574,853     $488,073   $236,583
Operating Cash Flow               237,431      (236,482)    (146,512)  (277,829)
Investing Cash Flow               (60,660)      (44,660)    (121,415)   225,560
Financing Cash Flow               441,671        52,789      467,035    162,189

Ending Cash                     $ 687,181     $ 346,501     $687,181   $346,501
</TABLE>
                         

PORTER MCLEOD NATIONAL RETAIL INC.
NOTE TO FINANCIAL STATEMENTS
June 30, 1995

The unaudited financial statements included herein were prepared
from the books of the Company in accordance with generally
accepted accounting principles and reflect all adjustments which
are, in the opinion of management, necessary to provide a fair
statement of the results of operations and financial position for
the interim periods.  Such financial statements generally conform
to the presentation reflected in the Company's Annual Report on
Form 10-KSB for the year ended December 31, 1995, and reflect
adjustments which are solely of a normal, recurring nature.  The
current interim periods reported herein are included in the
fiscal year subject to independent audit at the end of the year.



PORTER MCLEOD NATIONAL RETAIL, INC.

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

LIQUIDITY AND CAPITAL RESOURCES

On  June  30, 1995, the Company had current assets of  $2,101,034
and  current  liabilities  of $1,290,339  resulting  in  positive
working capital of $810,696

With  the  additional  funds  provided  by  an  equity  financing
completed during the second quarter of 1993, the Company has been
able  to pursue larger construction projects, as well as multiple
project  packages,  that the Company believes  will  continue  to
increase  the Company's contracting volume and income.   To  date
the   Company  has  been  successful  in  obtaining  some  larger
projects,  as  reflected in the average size of the projects  the
Company  has in progress.  While larger projects increase  volume
and  dollar  profits, the profit margin percentage  is  generally
lower  than  on smaller jobs.  This is especially  true  for  the
initial larger contracts entered into in order for the Company to
establish itself in the market.

The Company has no major capital commitments for the purchase  of
equipment or leasehold improvements.  The nature of the Company's
business  does  not  require  large expenditures  for  tools  and
equipment.

RESULTS OF OPERATIONS

THREE  MONTHS  ENDED JUNE 30, 1995 COMPARED TO THE  THREE  MONTHS
ENDED JUNE 30, 1994

Contract  income  for the three months ended June  30,  1995  was
$2,143,198,  an increase of $517,049 from the three months  ended
June  30,  1994.   The increase in revenue was primarily  due  to
larger   construction   contracts  and  more   multiple   project
contracts.  It is difficult to predict what the project mix  will
be  between  larger and smaller projects.  However,  the  average
size construction project that the Company had under contract  as
of  June 30, 1995 was $877,680 as compared to $616,935 as of June
30, 1994.

The gross profit margin was 3.81% for the three months ended June
30,   1994.   This  difference  is  primarily  due  to  increased
efficiency gained by bidding on multiple store projects.

Cash  flow  from operations for the three months ended  June  30,
1995 was a negative $236,482 compared to a positive $237,431  for
the three months ended June 30, 1994.  The primary reason for the
difference  was  due  to  A)  the  timing  of  the  receipts  and
disbursements  which resulted in a negative  cash  flow  for  the
period of $116,785; B) interest income on cash accounts and other
income/expense  of a negative $24,098; and C)  the  lack  of  any
recognition  for  income tax benefits due to  net  losses  before
taxes.

Administrative costs for the three months ended June 30, 1995 was
a  negative $26,482 compared to a positive $237,431 for the three
months  ended June 30, 1994.  This was primarily due to increased
amortization, increased costs associated with expanded  marketing
efforts and estimating.  While the lead/lag time from the bidding
process to the actual start of contraction is somewhat longer for
larger  projects,  the Company has not incurred  any  substantial
increases in administrative expenses due to the larger projects.






During the three months ended June 30, 1995, the Company had  net
before  tax  loss  of $176,815 compared to a  net  loss  for  the
comparable period ended June 30, 1994 of $142,711.  The  increase
in  gross profit increases during the second quarter of 1995  are
due  to  significantly higher contract income and  higher  profit
martins.   The resulting increase in gross profits was more  than
off  set by a reduction in other income (described below) and the
increase  in  administrative costs (described above).   Operating
results can vary significantly on both quarterly and annual bases
because  of the retail industry's emphasis on opening stores  for
certain  holidays, especially the Christmas season, and the  wide
variety   of  contact  terms  and  types  of  projects   in   the
construction industry.

As  of  June 30, 1995, the Company's backlog of contracts  to  be
performed   was   $5,497,400  as  compared  to   a   backlog   of
approximately $3,104,414 as of June 30, 1994.

SIX  MONTHS ENDED JUNE 30, 1995 COMPARED TO SIX MONTHS ENDED JUNE
30, 1994.

Contract  income  for  the six months ended  June  30,  1995  was
$2,243,707, a decrease of $923,910 from the six months ended June
30, 1994.  The decrease in revenue resulted primarily from delays
in  starting projects caused by owners and architects due to  the
complexity  of multiple project packages, especially  during  the
first  quarter of the year.  Despite the decrease in  volume  the
Company  experienced a significant increase of $139,613 in  gross
profits,  primarily  as  a  result of higher  profit  margins  on
multiple  project  packages and the realization  of  higher  than
anticipated profits on projects completed in the first quarter of
the year.

In  the  future,  it  is  anticipated that  gross  profit  margin
percentages may be higher than current margins as the Company has
been  successful in entering the market for larger  projects,  as
well  as  multiple project packages and has been able  to  obtain
somewhat  higher margins on projects recently awarded as compared
to the initial projects obtained at entry into the market.  It is
difficult  to  predict what the mix will be  between  larger  and
smaller  projects.   However, the larger  projects  and  multiple
project  packages  would  be expected to  generate  higher  gross
profit  amounts  without a substantial increase in administrative
costs  as  the Company gains more experience with larger projects
and completes more multiple project packages.

Cash  flow for the six months ended June 30, 1995 was a  positive
$109,918 compared to a positive $199,108 for the six months ended
June  30, 1994.  The primary factors affecting cash flow for  the
six  months  ending June 30, 1995 were a negative  $277,829  from
operations and net proceeds of $225,560 from investing activities
and $162,189 from financing activities.

Administrative costs for the six months ended June 30, 1995  were
$131,801 higher than for the six months ended June 30, 1994.  The
increase  in  administration costs  were  primarily  due  to  the
increased  costs  associated with increased sales  and  marketing
efforts,   and   the  amortization  of  international   marketing
expenses.

The  increase  in  gross profit was offset  by  the  increase  in
administrative expenses, resulting in a net loss from  operations
for the six months ended June 30, 1995 of $308,613 compared to  a
loss  for  the same period for 1994 of $316,425.  This  operating
loss  was  further aggravated by a reduction of other  income  of
approximately  $29,200.   The resulting  loss  before  taxes  was
$322,212  for  the  first six months of 1994.  In  addition,  the
Company is not able to recognize any potential tax benefits  from
this  loss  because  of  the prior net operating  losses  carried
forward from prior periods for tax purposes.  Therefore, the  net
loss for the six months ended June 30, 1995 was $322,212 compared
to  a  loss  of $196,554 for the six months ended June  30,  1994
which realized a potential tax benefit of $102,286.






The  Company's  future results of operations will depend  on  its
ability  to  maintain  its present client base  and  to  generate
contracts   with   other  major  retailers,  or  other   clients.
Currently, a significant percentage of the Company's total volume
is  dependent  upon  a  few  large customers.   The  Company  has
retained a public relations firm as part of the marketing  effort
which is focusing on a broader mix of business and customer base.
The Company has also retained an individual to assist the Company
with the development of international business.  Through June 30,
1995 the Company has amortized approximately $111,000 of the cost
associated with respect to this latter effort.


PART II - OTHER INFORMATION


Item 6.        Exhibits And Reports On Form 8-K

     (a)  Exhibits
          None.
     
     (b)  Reports on Form 8-K.
          No  reports  on  Form 8-K were filed by the  Registrant
during the quarter ended June 30, 1995.

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

                                                                 
                                                                 
                              PORTER MCLEOD NATIONAL RETAIL, INC.
                                                                 
                                                                 

August 17, 1995                         By: /s/ Joseph R. McLeod
                                         Joseph R. McLeod, President


                                        By: /s/ William T. Kyle
                                         William T. Kyle, Chief Financial 
                                          Officer