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

                                   FORM 10-QSB

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

     For the quarterly period ended September 30, 1999

[ ]  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 33-58694

                                  VITRIX, INC.
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


           Nevada                                                 13-3465289
-------------------------------                              -------------------
(State or other jurisdiction of                               (I.R.S. Employer
incorporation of organization)                               Identification No.)


              20 East University, Suite 304, Tempe, Arizona 85281
              ---------------------------------------------------
                    (Address of principal executive offices)


                                 (480) 967-5800
                           ---------------------------
                           (Issuer's telephone number)


                             FBR Capital Corporation
              ----------------------------------------------------
              (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 [ ]

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest  practicable date: At November 12, 1999, the issuer had
outstanding 14,441,031 shares of Common Stock, par value $.005 per share.

Transitional Small Business Disclosure Format:  Yes [ ]  No [X]
<PAGE>
                         PART I - FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS

                                  VITRIX, INC.
                                 BALANCE SHEETS

                                                      SEPTEMBER 30,    JUNE 30,
                                                          1999           1999
                                                       -----------    ---------
                                                       (Unaudited)
                                     ASSETS
Current Assets:
  Cash and cash equivalents                            $   434,397    $ 376,365
  Accounts receivable - trade, net                          37,754       42,596
  Inventory                                                 41,804       28,397
  Prepaid expenses and other current assets                 40,285       10,591
                                                       -----------    ---------

    TOTAL CURRENT ASSETS                                   554,240      457,949

PROPERTY AND EQUIPMENT, NET                                 65,873       60,865
                                                       -----------    ---------

      TOTAL ASSETS                                     $   620,113    $ 518,814
                                                       ===========    =========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Current portion of long-term debt                    $    29,228    $  28,848
  Accounts payable                                         119,728      146,084
  Accrued liabilities                                       66,528       64,125
  Deferred revenue                                          15,875       13,235
                                                       -----------    ---------

    TOTAL CURRENT LIABILITIES                              231,359      252,292

LONG-TERM DEBT, LESS CURRENT PORTION                        12,377       14,466
                                                       -----------    ---------

      TOTAL LIABILITIES                                    243,736      266,758
                                                       -----------    ---------

COMMITMENTS:                                                    --           --

STOCKHOLDERS' EQUITY:
  Preferred Stock, $.01 par value, 10,000,000 shares
    authorized, issued and outstanding                     100,000      100,000
  Common stock, $.005 par value, 16,666,667 shares
    authorized, 14,441,031 and 13,241,031 shares
    issued and outstanding                                  72,205       66,205
  Contributed capital                                    1,261,968      956,468
  Accumulated deficit                                   (1,057,796)    (870,617)
                                                       -----------    ---------
    TOTAL STOCKHOLDERS' EQUITY                             376,377      252,056
                                                       -----------    ---------

    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY         $   620,113    $ 518,814
                                                       ===========    =========

                   The Accompanying Notes are an Integral Part
                           of the Financial Statements

                                       2
<PAGE>
                                  VITRIX, INC.
                            STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

                                                        THREE MONTHS ENDED
                                                           SEPTEMBER 30,
                                                   ----------------------------
                                                       1999            1998
                                                   ------------    ------------

Revenues:
  Product sales                                    $    199,291    $    120,363
  Services revenue                                        3,378           4,500
                                                   ------------    ------------

       TOTAL REVENUES                                   202,669         124,863

COST OF REVENUES                                         65,562          37,330
                                                   ------------    ------------

GROSS PROFIT                                            137,107          87,533
                                                   ------------    ------------

COSTS AND EXPENSES:
  Sales and marketing                                    97,042          44,229
  Research and development                              101,884          34,989
  General and administrative                            126,472          36,316
                                                   ------------    ------------

       TOTAL COSTS AND EXPENSES                         325,398         115,534
                                                   ------------    ------------

NET LOSS FROM OPERATIONS                               (188,921)        (28,001)
                                                   ------------    ------------

OTHER INCOME (EXPENSE):
  Interest expense                                       (2,108)         (7,583)
  Interest income                                         3,220           1,033
                                                   ------------    ------------

                                                          1,112          (6,550)
                                                   ------------    ------------

NET LOSS                                           $   (187,179)   $    (34,551)
                                                   ============    ============

BASIC LOSS PER SHARE                               $      (0.01)   $      (0.00)
                                                   ============    ============

WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING        23,345,379      14,012,820
                                                   ============    ============

                   The Accompanying Notes are an Integral Part
                           of the Financial Statements

                                       3
<PAGE>
                                  VITRIX, INC.
                  STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
                      FOR THE YEAR ENDED JUNE 30, 1999 AND
           THE THREE MONTH PERIOD ENDED SEPTEMBER 30,1999 (Unaudited)

<TABLE>
<CAPTION>
                                      PREFERRED STOCK          COMMON STOCK
                                   ---------------------   ---------------------  CONTRIBUTED   ACCUMULATED
                                      SHARES     AMOUNT      SHARES      AMOUNT     CAPITAL       DEFICIT        TOTAL
                                   ----------   --------   ----------   --------   ----------   -----------    ---------
<S>                                <C>          <C>        <C>          <C>        <C>          <C>            <C>
Balance at June 30, 1998            7,536,681     75,367    6,476,139     32,381      387,873      (601,315)    (105,694)
  Conversion of related party
    debt and interest               1,463,319     14,633    1,257,404      6,287      243,650            --      264,570
  Sale of  stock, net of
     costs of $9,063                1,000,000     10,000      859,283      4,296      176,622            --      190,918
  Merger with Vitrix Incorporated   4,648,205     23,241      148,323    171,564
  Net loss                                 --         --           --         --           --      (269,302)    (269,302)
                                   ----------   --------   ----------   --------   ----------   -----------    ---------
Balance at June 30, 1999           10,000,000   $100,000   13,241,031   $ 66,205   $  956,468   $  (870,617)   $ 252,056
  Issuance of stock options                --         --           --         --       11,500            --       11,500
  Sale of common stock                     --         --    1,200,000      6,000      294,000            --      300,000
  Net loss                                 --         --           --         --           --      (187,179)    (187,179)
                                   ----------   --------   ----------   --------   ----------   -----------    ---------

Balance at September 30, 1999      10,000,000   $100,000   14,441,031   $ 72,205   $1,261,968   $(1,057,796)   $ 376,377
                                   ==========   ========   ==========   ========   ==========   ===========    =========
</TABLE>

                   The Accompanying Notes are an Integral Part
                           of the Financial Statements

                                       4
<PAGE>
                                  VITRIX, INC.
                            STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

                                                            THREE MONTHS ENDED
                                                               SEPTEMBER 30,
                                                          ----------------------
                                                            1999         1998
                                                          ---------    --------
Increase (Decrease) in Cash and Cash Equivalents:
 Cash flows from operating activities:
 Net Loss                                                 $(187,179)   $(34,551)
 Adjustments to reconcile net loss to net
   cash used by operating activities:
   Depreciation                                               7,773       5,512
   Stocks options issued for services                        11,500          --
 Changes in Assets and Liabilities:
   Accounts receivable-trade                                  4,842      (7,606)
   Inventory                                                (13,407)        733
   Prepaid expenses and other current assets                (29,694)         --
   Accounts payable                                         (26,356)    (14,176)
   Accrued liabilities                                        2,403       3,103
   Deferred revenue                                           2,640          --
                                                          ---------    --------
      NET CASH USED BY OPERATING ACTIVITIES                (227,478)    (46,985)
                                                          ---------    --------

 CASH FLOWS FROM INVESTING ACTIVITIES:
   Purchase of property and equipment                       (12,781)         --
                                                          ---------    --------
         NET CASH USED BY INVESTING ACTIVITIES              (12,781)         --
                                                          ---------    --------

 CASH FLOWS FROM FINANCING ACTIVITIES:
   Repayment of capital leases                               (1,709)         --
   Proceeds from issuance of stock                          300,000          --
                                                          ---------    --------
         NET CASH PROVIDED BY FINANCING ACTIVITIES          298,291          --
                                                          ---------    --------

Net change in cash and cash equivalents                      58,032     (46,985)

Cash and cash equivalents at beginning of period            376,365      96,775
                                                          ---------    --------

Cash and cash equivalents at end of period                $ 434,397    $ 49,790
                                                          =========    ========
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
  Interest paid                                           $   1,376    $     83
                                                          =========    ========

  Income taxes paid                                       $      --    $     --
                                                          =========    ========
NONCASH INVESTING AND FINANCING ACTIVITIES:
  Issuance of stock options for services                  $  11,500    $     --
                                                          =========    ========

                   The Accompanying Notes are an Integral Part
                           of the Financial Statements

                                       5
<PAGE>
                                  VITRIX, INC.
                          NOTE TO FINANCIAL STATEMENTS
                                   (UNAUDITED)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION AND INTERIM FINANCIAL STATEMENTS

The  accompanying   financial  statements  of  Vitrix,  Inc.  ("Vitrix"  or  the
"Company") have been prepared in accordance with generally  accepted  accounting
principles ("GAAP"), pursuant to the rules and regulations of the Securities and
Exchange Commission, and are unaudited. Accordingly, they do not include all the
information and footnotes required by 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, 1999 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, 1999.

LOSS PER SHARE:

Basic loss per share of common  stock was  computed by dividing  the net loss by
the weighted average number of shares outstanding of common and preferred stock.
The common and preferred stock amounts in the accompanying  financial statements
have been  restated  to give effect to the  exchange  ratio  established  in the
Exchange  Agreement,  dated April 15, 1999, between FBR Capital  Corporation and
Vitrix Incorporated . The preferred stock was included in the calculation due to
its  automatic  conversion  into  common  stock at such time as the  Company has
sufficient authorized common stock to issue the shares

Diluted  earnings per share are computed based on the weighted average number of
shares of common stock and dilutive  securities  outstanding  during the period.
Dilutive  securities are options and warrants that are freely  exercisable  into
common stock at less than the prevailing market price.  Dilutive  securities are
not  included in the  weighted  average  number of shares when  inclusion  would
increase the earnings per share or decrease the loss per share.

STOCKHOLDERS' EQUITY:

During the quarter  ended  September 30, 1999,  the Company  completed a private
placement of $300,000 of common stock and common stock warrants.  The securities
were issued  under an  Agreement  with one  institutional  investor  and certain
members of the Company's Board of Directors and officers. The offering consisted
of  1,200,000  shares of common  stock and  warrants to purchase an aggregate of
600,000 shares of common stock.  The warrants are  exercisable at $.35 per share
for a period of three years. On October 8, 1999, the Company completed a private
placement of an  additional  $200,000 of common stock and common stock  warrants
under the same  Agreement and terms.  The Agreement  also provides for a minimum
additional  funding  of  $100,000,  with an option to  increase  the  additional
funding  up  to  $500,000,  prior  to  January  15,  2000,  subject  to  certain
provisions.

SUBSEQUENT EVENTS:

The  Company  changed  its name from FBR  Capital  Corporation  to Vitrix,  Inc.
pursuant  to  approval  by a vote of the  Company's  shareholders  at its annual
meeting held on October 7, 1999.

                                       6
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

COMPARISON OF THE THREE MONTHS ENDED SEPTEMBER 30, 1999 AND SEPTEMBER 30, 1998

     REVENUES. Revenue for three month period ended September 30, 1999, rose 62%
to  $202,669,  compared  to  revenue  of  $124,863  for the three  month  period
September  30,  1998.  This growth was  principally  the result of an  increased
customer demand for its bundled software and hardware solutions,  which resulted
in an  increase  in sales  volume.  The  Company  also added  additional  inside
salespersons and increased its advertising and promotional expenditures over the
previous period.

     GROSS PROFIT. Gross profit as a percentage of revenues was 68% in the first
fiscal  quarter of 1999,  compared  to 70% in the  similar  period in 1998.  The
decrease in gross profit as a percentage of revenues was primarily  attributable
to an increase in the  proportion  of bundled  software and  hardware  solutions
sales to  software-only  solutions sales. The average gross profit per unit sold
on software and hardware  units is lower than the average gross profit margin on
software-only solutions.

     EXPENSES. Sales and marketing expenses were $97,042, or 48% of revenues, in
the first fiscal quarter of 1999,  compared to $44,229,  or 35% of revenues,  in
the  similar  period in 1998.  The  increase in sales and  marketing  expense is
attributable  to increased  labor costs  resulting from the hiring of additional
salespeople and increased advertising and promotional expense.

     Research and development expenses were $101,884, or 50% of revenues, in the
first fiscal quarter of 1999,  compared to $34,989,  or 28% of revenues,  in the
similar  period in 1998.  The  increase in research and  development  expense is
attributable to increased labor costs as a result of the Company's commitment to
enhance existing products and develop new products.

     General and administrative  expenses were $126,472,  or 62% of revenues, in
the first fiscal quarter of 1999,  compared to $36,316,  or 29% of revenues,  in
the similar period in 1998. The increase in general and administrative  expenses
is primarily attributable to the hiring of additional management personnel.

LIQUIDITY AND CAPITAL RESOURCES

     Working capital as of September 30, 1999 was $322,881,  compared to $32,777
at September  30, 1998.  Cash and cash  equivalents  at those dates  amounted to
$434,397 and $49,790, respectively.

     OPERATIONS.  Net cash used by operations increased to $227,478 in the first
fiscal  quarter of 1999,  compared to net cash used by  operations of $46,985 in
the similar period in 1998. The decrease was  attributable to an increase in the
net loss, inventory and prepaid expenses and a decrease in accounts payable.

     INVESTMENT ACTIVITIES. For the fiscal quarter ended September 30, 1999, the
Company used $12,781 to purchase property and equipment.

     FINANCING  ACTIVITIES.  The  Company  raised  $300,000  through  a  private
placement of Common Stock in the first fiscal quarter ended September 30, 1999.

                                       7
<PAGE>
     The  Company  believes  that,  with its current  working  capital and funds
generated through operations, it will have sufficient working capital to address
the  anticipated  growth of demand and market for its  products  for the next 12
months.  The Company may, however,  seek to obtain additional  capital through a
line of credit at a financial  institution or through  additional debt or equity
offerings during this time period.  The raising of additional  capital in public
markets will primarily be dependent upon  prevailing  market  conditions and the
demand for the Company's  products and services.  No assurance can be given that
the Company will be able to raise additional  capital,  or that such capital, if
available, will be on acceptable terms.

YEAR 2000 COMPLIANCE

     The Company has reviewed its computer  systems to identify those areas that
could be adversely affected by the Year 2000 ("Y2K") issue. The Y2K issue is the
result of computer  programs  being written using two digits rather than four to
define  the  applicable  year.  The  Company  has  determined  that  all  of its
information  systems  are Y2K  compliant.  The  compliance  effort  to date  has
resulted in immaterial  cost to the Company.  Although the Company  expects that
any future  expenditures  made in connection  with Y2K  conversions  will not be
material,  the Company may experience material  unanticipated problems and costs
caused by undetected errors or defects in its systems.

     The Company  believes that some of its customers may be impacted by the Y2K
problem,  which could in turn  negatively  impact the Company sales efforts with
respect to such customers and the Company's results of operations.

     The Company  has  completed  an inquiry of key vendors to assess  their Y2K
readiness.  Based on this inquiry, the Company is not aware of any problems that
would  materially  affect its  business,  results  of  operations  or  financial
condition. However, the inability of such vendors to meet Y2K requirements could
materially  impact the Company's ability to procure materials from these vendors
and to meet its obligations to supply products to its customers.

     The Company  has  formulated  a  contingency  plan to address the  possible
effects of problems  encountered as a result of Y2K issues.  The Company expects
the costs of this plan to be immaterial.

     The Company's products are all Y2K 2000 compliant.

FORWARD-LOOKING INFORMATION

     This  Quarterly  Report on Form  10-QSB  contains  certain  forward-looking
statements and information  which the Company believes are within the meaning of
Section 27A of the  Securities  Act of 1933, as amended,  and Section 21E of the
Securities  Exchange Act of  1934,  as amended.  The forward-looking  statements
contained  herein can be  identified by the use of  forward-looking  terminology
such as "believes," "expects," "may," "will," "should," or "anticipates," or the
negative thereof or other variations  thereon or comparable  terminology,  or by
discussions of strategy that involve risks and uncertainties. The Company wishes
to  caution  the  reader  that  these  forward-looking  statements  that are not
historical  facts,  are only  predictions.  No assurances  can be given that the
future results indicated,  whether expressed or implied, will be achieved. While
sometimes  presented with numerical  specificity,  these  projections  and other
forward-looking  statements are based upon a variety of assumptions  relating to
the  business of the  Company,  which,  although  considered  reasonable  by the

                                       8
<PAGE>
Company,  may not be  realized.  Because of the number and range of  assumptions
underlying the Company's  projections and  forward-looking  statements,  many of
which are subject to significant uncertainties and contingencies that are beyond
the reasonable control of the Company,  some of the assumptions  inevitably will
not materialize, and unanticipated events and circumstances may occur subsequent
to the  date of this  report.  These  forward-looking  statements  are  based on
current  expectations  and the  Company  assumes no  obligation  to update  this
information.  Therefore,  the actual  experience  of the Company and the results
achieved   during  the  period   covered  by  any   particular   projections  or
forward-looking  statements  may  differ  substantially  from  those  projected.
Consequently,  the inclusion of projections and other forward-looking statements
should not be regarded as a  representation  by the Company or any other  person
that these  estimates and projections  will be realized,  and actual results may
vary materially.  There can be no assurance that any of these  expectations will
be realized or that any of the forward-looking  statements contained herein will
prove to be accurate.

                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

     The Company is from time to time involved in legal proceedings arising from
the normal course of business. As of the date of this report, the Company is not
currently involved in any legal proceedings.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

     On  September  22,  1999,  the  Company  completed a private  placement  of
$300,000 of common stock and common stock  warrants.  The securities were issued
under an Agreement with one  institutional  investor and certain  members of the
Company's Board of Directors and officers.  The offering  consisted of 1,200,000
shares of common stock and  warrants to purchase an aggregate of 600,000  shares
of common stock.  The warrants are exercisable at $.35 per share for a period of
three years. On October 8, 1999, the Company completed a private placement of an
additional  $200,000 of common  stock and common stock  warrants  under the same
Agreement  and terms.  The  Agreement  also  provides  for a minimum  additional
funding of  $100,000,  with an option to increase the  additional  funding up to
$500,000,  prior to January 15, 2000, subject to certain conditions.  The common
stock and warrants issued in the private offering were issued in reliance on the
exemption  provided  under  Section  4(2)  of the  Securities  Act of  1933  and
Regulation D thereunder.

     The proceeds from the private  offerings are being used for general working
capital needs.

                                       9
<PAGE>
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     On October 7, 1999 the Company held its annual meeting of  shareholders  at
which  13,921,677,  or  60%  of  the  23,241,031  common  and  preferred  shares
outstanding were represented by proxy or in person.  The following  persons were
elected to the board of directors with shares voted as follows:

Election of Directors                 For                      Withheld
---------------------                 ---                      --------

Michael A. Wolf                   13,921,677                      --
Todd P. Belfer                    13,921,677                      --
Lise Lambert                      13,921,677                      --
Philip R. Shumway                 13,921,677                      --
Hamid Shojaee                     13,921,677                      --
Bahan Sadegh                      13,921,677                      --

     At that meeting,  the shareholders also approved the proposed  amendment to
the Articles of Incorporation to change the Company's name to "Vitrix, Inc." and
to increase the authorized  shares of common stock from 16,666,667 to 50,000,000
shares.  The shareholders also approved the proposal to adopt the Company's 1999
Equity  Compensation Plan.  Shareholders voted 13,921,677 shares for approval of
the above proposals with no shares withheld or abstained.

ITEM 5. OTHER INFORMATION

     Effective  October 31, 1999,  Philip R. Shumway  resigned as President  and
Chief  Executive  Officer of the  Company to pursue  other  business  interests.
Michael  A. Wolf,  Chairman  of the Board of  Directors,  has agreed to serve as
acting  President  and Chief  Executive  Officer  until such time as the Company
completes its search for a new President and Chief Executive Officer.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

     (a) The following exhibits are filed herewith pursuant to Regulation SB:

     NO.       DESCRIPTION
     ---       -----------

     3.1       Certificate of Amendment to the Articles of Incorporation, dated
               October 7, 1999
     10.1      Lease  Agreement, dated September 3, 1999 between LAFP Phoenix,
               Inc, as Lessor, and the Registrant as Lessee
     10.2      Securities Purchase Agreement, dated September 21, 1999 between
               Circle F Ventures, LLC and the Registrant
     10.3      Severance  Agreement and General Release, dated October 25, 1999
               between Philip R. Shumway and the Registrant
     27        Financial Data Schedule

     (b) Reports on Form 8-K

     No reports were filed on Form 8-K during the quarter  ended  September  30,
1999.

                                       10
<PAGE>
                                   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.

                                        VITRIX, INC.


Dated: November 12, 1999
                                        By  /s/ Michael A. Wolf
                                            ------------------------------------
                                        Michael A. Wolf
                                        President and Chief Executive Officer