U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  FORM 10-QSB/A

  X    Quarterly  report  pursuant  to  Section  13 or  15(d)  of the Securities
-----  Exchange Act of 1934

       For the quarterly period ended September 30, 1996

       Transition  report  pursuant  to  Section 13 or  15(d) of  the Securities
-----  Exchange  Act of 1934

       For the transition period from _______________ to _______________

       Commission File number 1-10320
                             ---------

                             FBR Capital Corporation
                             -----------------------
        (Exact Name of Small Business Issuer as Specified in its Charter)

           Nevada                                                 13-3465289
           ------                                                 ----------
(State of Other Jurisdiction of                                (I.R.S. Employer
Incorporation of Organization)                               Identification No.)

           14988 North 78th Way, Suite 203, Scottsdale, Arizona 85260
           ----------------------------------------------------------
                    (Address of Principal Executive Offices)

                                  (602)483-1466
           ----------------------------------------------------------
                 (Issuer's Telephone Number Including Area Code


--------------------------------------------------------------------------------
(Former  Name,  Former  Address  and  Former  Fiscal  Year,  if   Changed  Since
                                   Last Report


         This  amendment is being filed to correct  typographical  errors in the
Statements of Cash Flows for the three months ended  September 30, 1996 and 1995
included in Part 1, Item 1.

                             Page 1 of 7 Total Pages
                              Exhibit Index - None
<PAGE>
PART 1.     FINANCIAL INFORMATION
ITEM 1.     FINANCIAL STATEMENTS

                             FBR CAPITAL CORPORATION
                   (Formerly Richard Barrie Fragrances, Inc.)

                                 BALANCE SHEETS
<TABLE>
<CAPTION>
                                                                                          September 30        June 30
ASSETS                                                                                        1996             1996
                                                                                              ----             ----
                                                                                           (Unaudited)
<S>                                                                                       <C>             <C>          
CURRENT ASSETS:
   Cash and cash equivalents                                                              $    181,646    $      61,871
   Investment in U.S. Government Treasury Bills                                                399,559                -
   Investment in common stock of Parlux Fragrances, Inc.                                     1,757,500        3,746,250
   Receivable from acquiror of discontinued operations                                               -          750,000
   Other current assets                                                                         13,969            6,991
                                                                                          ------------    -------------

TOTAL ASSETS                                                                              $  2,352,674    $   4,565,112
                                                                                          ============    =============


LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES:
   Accounts payable                                                                       $     31,137    $     121,789
   Accrued expenses                                                                             90,770          180,417
   Convertible notes payable                                                                   117,000          117,000
                                                                                          ------------    -------------

              Total current liabilities                                                        238,907          419,206
                                                                                          ------------    -------------

SERIES A REDEEMABLE PREFERRED STOCK:
   $.01 par value;
      529 shares authorized;
      517 shares issued and outstanding;
      at liquidation value of $5,600 per share                                               2,895,200        2,895,200
                                                                                          ------------    -------------

STOCKHOLDERS' EQUITY (DEFICIT):
   Preferred stock, $.01 par value;
      10,000,000 shares authorized;
      no shares outstanding except 517 shares issued as
       Series A Redeemable Preferred Stock
   Common stock, $.005 par value;
      16,777,667 shares authorized;
      4,636,698 shares issued and outstanding                                                   23,183           23,183
   Additional paid-in capital                                                                7,241,768        7,241,768
   Accumulated deficit                                                                      (6,057,634)      (6,014,245)
   Unrealized loss on investment                                                            (1,988,750)               -
                                                                                          ------------    -------------

              Total stockholders' equity (deficit)                                            (781,433)       1,250,706
                                                                                          ------------    -------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                                      $  2,352,674    $   4,565,112
                                                                                          ============    =============
</TABLE>
      The accompanying notes are an integral part of these balance sheets.
                                       -2-
<PAGE>
                             FBR CAPITAL CORPORATION
                   (Formerly Richard Barrie Fragrances, Inc.)

                            STATEMENTS OF OPERATIONS
                 THREE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                             1996              1995
                                                                                             ----              ----
<S>                                                                                      <C>               <C>          
Operating expenses                                                                       $    (43,248)     $           -
                                                                                         ------------      -------------

              Loss from operations                                                            (43,248)                 -
                                                                                         ------------      -------------

Other income (expense):
   Interest expense                                                                            (4,424)                 -
   Interest income                                                                              4,283                  -
                                                                                         ------------      -------------

              Other income (expense), net                                                        (141)                 -

Income from discontinued operations                                                                 -             43,154
                                                                                         ------------      -------------

   Net income (loss)                                                                     $    (43,389)     $      43,154
                                                                                         ============      =============

Earnings per common share and common share equivalents:
   Loss per share from continued operations                                              $       (.01)     $           -
   Income per share from discontinued operations                                                    -                .01
                                                                                         ------------      -------------

              Net earnings (loss) per share                                              $       (.01)     $         .01
                                                                                         ============      =============


Weighted average common share and common share
 equivalents outstanding                                                                    4,636,698          4,419,548
                                                                                         ============      =============
</TABLE>
        The accompanying notes are an integral part of these statements.
                                       -3-
<PAGE>
                             FBR CAPITAL CORPORATION
                   (Formerly Richard Barrie Fragrances, Inc.)

                            STATEMENTS OF CASH FLOWS
                 THREE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                                  1996          1995
                                                                                                  ----          ----
<S>                                                                                           <C>            <C>        
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net loss                                                                                   $   (43,389)   $         -
                                                                                              -----------    -----------
   Adjustments to reconcile net loss to net cash
    provided by (used in) operating activities:
      Depreciation                                                                                      -        124,229
      Discontinued operations                                                                           -         43,154
      (Increase) decrease in:
        Accounts receivable                                                                             -       (710,842)
        Inventories                                                                                     -        555,782
        Other assets                                                                               (6,978)      (412,785)
      Increase (decrease) in:
        Accounts payable and accrued expenses                                                    (180,299)       413,083
                                                                                              -----------    -----------

              Total adjustments                                                                  (187,277)        12,621
                                                                                              -----------    -----------

      Net cash used in continuing operations                                                     (230,666)       (30,533)
      Net cash provided by discontinued operations                                                      -         43,154
                                                                                              -----------    -----------

              Net cash provided by (used in) operating activities                                (230,666)        12,621
                                                                                              -----------    -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Receipts of amount due from acquiror of discontinued operations                                750,000              -
   Investment in U.S. Government Treasury Bills                                                  (399,559)             -
   Purchase of property and equipment                                                                   -        (33,118)
                                                                                              -----------    ------------

              Net cash provided by (used in) investing activities                                 350,441        (33,118)
                                                                                              -----------    -----------

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                                              119,775        (20,497)

CASH AND CASH EQUIVALENTS, beginning of period                                                     61,871        339,715
                                                                                              -----------    -----------

CASH AND CASH EQUIVALENTS, end of period                                                      $   181,646    $   319,218
                                                                                              ===========    ===========
</TABLE>
        The accompanying notes are an integral part of these statements.
                                       -4-
<PAGE>
                             FBR CAPITAL CORPORATION
                   (Formerly Richard Barrie Fragrances, Inc.)

                          NOTES TO FINANCIAL STATEMENTS
                      THREE MONTHS ENDED SEPTEMBER 30, 1996
                                   (Unaudited)



SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited financial statements have been prepared in accordance
with generally accepted accounting  principles for interim financial information
and the  instructions to Form 10-QSB.  Accordingly,  they do not include all the
information and footnotes required by Generally Accepted  Accounting  Principles
("GAAP") for complete financial  statements.  In the opinion of management,  all
adjustments  (which include only normal recurring  adjustments)  necessary for a
fair  presentation  of the results for the interim  periods  presented have been
made. The results for the three month period ended September 30, 1996 may not be
indicative of the results for the entire year. These financial statements should
be read in conjunction  with the Company's  Annual Report on Form 10-KSB for the
fiscal year ended June 30, 1996.

Cash and Cash Equivalents and Investments

The Company's  policy is to invest cash in excess of operating  requirements  in
income-producing  investments.  Temporary cash investments are all highly liquid
investments  with  maturity  of three  months  or less  when  purchased  and are
considered to be cash  equivalents  for cash flow  purposes.  Investments in the
common stock of Parlux Fragrances,  Inc., and U.S. Government Treasury Bills are
accounted for in accordance with Statement of Financial Accounting Standards No.
115, "Accounting for Certain Investments in Debt and Equity Securities".

Investment  in  common  stock of  Parlux  Fragrances,  Inc.,  is  classified  as
"available  for  sale".  Changes  in  the  market  value  are  reflected  in the
stockholders'  equity  section of the Company's  balance sheet under the caption
"Unrealized loss on investment".

Earnings (Loss) Per Common Share

Earnings  (loss) per common share is computed by dividing  net income  (loss) by
the  weighted  average  number of  common  share and  common  share  equivalents
outstanding during the period.  Primary and fully diluted earnings per share are
considered to be the same in all periods. The impact of outstanding warrants and
stock options were not included in the calculation of net loss per share in 1996
and net income per share in 1995, as their inclusion would have an anti-dilutive
effect on those results.
                                       -5-
<PAGE>
                             FBR CAPITAL CORPORATION
                   (Formerly Richard Barrie Fragrances, Inc.)

                          NOTES TO FINANCIAL STATEMENTS
                      THREE MONTHS ENDED SEPTEMBER 30, 1996
                                   (Unaudited)




Income Taxes

The Company has a net operating loss carryforward of approximately $6,400,000 at
September 30, 1996.  Historically,  no federal tax benefit has been recorded due
to the  uncertainty of the Company's  ability to realize  benefits by generating
taxable  income in the future.  These  carryforwards  expire through fiscal year
2011.  Due to a greater  than 50% change in the  ownership  of the  Company,  as
defined in the Internal Revenue Code,  resulting from various equity  offerings,
certain  restrictions exist as to the use of net operating loss carryforwards to
offset future taxable income.

Although the Company has significant net operating loss carryforwards  available
to offset future  taxable  income,  due to the  uncertainty  as to the Company's
future  earnings,  a full  valuation  allowance  has been provided to offset all
deferred  tax  assets.  No income  taxes  have been  provided  for either of the
interim periods based on the Company's ability to utilize its net operating loss
to offset taxable income, if any, during the periods.
                                      -6-
<PAGE>
                                   SIGNATURES


        In accordance with Section 13 or 15(d) of the Securities Exchange Act of
1934,  the  Registrant  caused  this  Report to be  signed on its  behalf by the
undersigned, thereunto duly authorized.

                                          FBR CAPITAL CORPORATION

                                          (Registrant)
Dated:  January 17, 1997
                                          By: /s/ Charles D. Snead, Jr.
                                          -----------------------------
                                            Charles D. Snead, Jr., President