FORM 10-QSB

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

(Mark One)

[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934

         For the quarterly period ended:   November 30, 1999
                                           -----------------


[  ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934

                          Commission File No.: 0-10093
                                               -------


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


            Delaware                                       22-3664872
-------------------------------                        ------------------
(State or other jurisdiction of                        (I.R.S. Employer
incorporation or organization)                         Identification No.)


           376 Main Street, P.O. Box 74, Bedminster, New Jersey 07921
        ---------------------------------------------------------------
              (Address of principal executive offices) (Zip Code)


                                 (908) 901-9250
                         -------------------------------
                           (Issuer's telephone number)

                                       N/A
             ------------------------------------------------------
              (Former name, former address and former fiscal year,
                          if changed since last report)


     Check  whether  the issuer (1) 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: As of December 22, 1999,  the
issuer had  2,099,491  shares of its common  stock,  par value $.01,  per share,
outstanding.

     Transitional Small Business Disclosure Format (check one):
                          Yes           No   X
                             -----        ------



<PAGE>




PART I -          FINANCIAL INFORMATION
------            ---------------------

Item 1. -         Financial Statements
------            --------------------


                              GOLF ROUNDS.COM, INC.
                                  BALANCE SHEET
                                   (Unaudited)


                                                                 November 30,
                                                                     1999
                                                                 ------------
                                                                ($000 Omitted)

ASSETS
------

  Current assets:
     Cash and cash equivalents                                       $1,981
     Prepaid expenses                                                     7
                                                                     ------
         Total current assets                                         1,988
  Intangible assets, net of accumulated
     amortization of $115                                                83
  Equipment, net of accumulated
     depreciation of $1                                                   5
                                                                     ------
         Total assets                                                $2,076
                                                                     ======


LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------

  Current liabilities:
     Accrued liabilities                                             $    8
                                                                     ------
         Total current liabilities                                        8
                                                                     ------

  Stockholders' equity:
     Common stock, $.01 par value, 12,000,000
        shares authorized, 2,099,491
        shares issued and outstanding                                    21
     Additional capital in excess of par value                        3,200
     Accumulated deficit                                            ( 1,153)
                                                                     ------

         Total stockholders' equity                                   2,068
                                                                     ------

         Total liabilities and stockholders'
            equity                                                   $2,076
                                                                     ======




                 See accompanying notes to financial statements.


<PAGE>



                              GOLF ROUNDS.COM, INC.
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)





                                                         For the three months
                                                          ended November 30,
                                                         ---------------------
                                                          1999           1998
                                                         ------         ------
                                                              ($000 Omitted,
                                                          Except Per Share Data)


Revenues:
  Interest                                              $   22         $   25
  Other                                                      1              -
                                                        ------         ------
    Total revenues                                          23             25
                                                        ------         ------

Expenses:
  General, administrative and other                         77             16
  Amortization                                              49              -
                                                        ------         ------
    Total expenses                                         126             16
                                                        ------         ------

Net income (loss)                                      ($  103)        $    9
                                                        ======         ======

Basic and diluted net income (loss)
  per share                                            ($  .05)        $  .01
                                                        ======         ======

Weighted average number of shares
  outstanding (in 000's)                                 2,099          1,969
                                                        ======         ======




                 See accompanying notes to financial statements.




<PAGE>



                              GOLF ROUNDS.COM, INC.
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)


                                                           For the three months
                                                            ended November 30,
                                                           --------------------
                                                            1999          1998
                                                           ------        ------
                                                              ($000 Omitted)

Cash flows from operating activities:
  Net income (loss)                                       ($  103)      $    9
  Adjustments:
      Amortization and depreciation                            50            -
      Other, net                                          (     1)           1
                                                           ------       ------
      Net cash provided by (used in)
        operating activities                              (    54)          10
                                                           ------       ------


Cash flows from investing activities -
  Purchase of equipment                                   (     1)           -
                                                           ------       ------
      Net cash used in investing activities               (     1)           -
                                                           ------       ------


Cash flows from financing activities -
  Repurchase of common stock                                    -      (     3)
                                                           ------       ------
      Net cash used in
        financing activities                                    -      (     3)
                                                           ------       ------


Net increase (decrease) in cash and cash
  equivalents                                             (    55)           7

Cash and cash equivalents at beginning
  of period                                                 2,036        2,151
                                                           ------       ------

Cash and cash equivalents at end of period                 $1,981       $2,158
                                                           ======       ======



                 See accompanying notes to financial statements.


<PAGE>



                              GOLF ROUNDS.COM, INC.

                          NOTES TO FINANCIAL STATEMENTS

                                   (Unaudited)


1.   Basis of Presentation
     ---------------------

     The accompanying  unaudited financial  statements of Golf Rounds.com,  Inc.
(the  "Company")  as of November 30, 1999 and for the three month  periods ended
November  30,  1999 and 1998  reflect all  material  adjustments  which,  in the
opinion of management,  are necessary for a fair presentation of results for the
interim periods.  Certain  information and footnote  disclosures  required under
generally accepted accounting principles have been condensed or omitted pursuant
to the rules and regulations of the Securities and Exchange Commission, although
the Company  believes that the  disclosures are adequate to make the information
presented  not  misleading.   These  financial  statements  should  be  read  in
conjunction with the year-end financial statements and notes thereto included in
the  Company's  Annual Report on Form 10-KSB for the year ended August 31, 1999,
as filed with the Securities and Exchange Commission.

     The results of operations  for the three month  periods ended  November 30,
1999 and 1998 are not  necessarily  indicative of the results to be expected for
the  entire  fiscal  year  or for  any  other  period.  Prior  years'  financial
statements have been reclassified to conform to the current year's presentation.


2.   Income Per Share
     ----------------

     Income per common share is based on the weighted  average  number of shares
outstanding. Excluded from the income per share calculation for the three months
ended November 30, 1999 are  contingently  issuable  shares which,  if included,
would have an antidilutive effect.




<PAGE>



Item 2. -     Management's Discussion and Analysis of Financial
-------       -------------------------------------------------
              Condition and Results of Operations
              -----------------------------------

     This Form  10-QSB  contains  forward-looking  statements  which may involve
known and unknown  risks,  uncertainties  and other  factors  that may cause the
Company's  actual  results and  performance  in future  periods to be materially
different from any future periods or performance suggested by these statements.


Overview
--------

     The  Company had been  engaged in the  wholesale  distribution  of aluminum
alloys,  steel and other specialty  metals until it liquidated its assets in the
fourth  quarter of its fiscal year of 1992. In May of 1999, the Company became a
publisher of Internet websites through its acquisition of PKG Design,  Inc., the
developer and owner of two Internet websites:  golfrounds.com and skiingusa.com.
Prior to the  acquisition,  PKG Design had entered into an agreement with Lycos,
Inc. ("Lycos"), a major Internet guide. Under the agreement,  Lycos incorporated
golfrounds.com  into the Lycos website so that its customers  could use Lycos to
obtain information about golf (the "Lycos Agreement"). The non-interest revenues
have been insignificant and almost all were derived from selling advertisements,
often called banners, to reach Lycos customers. The Lycos Agreement was canceled
by Lycos  effective  December 5, 1999. On December 2, 1999, the Company  entered
into a content licensing and distribution  agreement with TicketMaster  OnLine -
CitySearch,  Inc. ("TMCS"). Under the agreement, TMCS will include the Company's
golf  content on the TMCS  Internet  websites.  In  exchange,  the Company  will
receive  a  portion  of  net  receipts   generated  from  advertising   banners,
sponsorships or other devices on the TMCS sites.  There can be no assurance that
these revenues will be significant.

     The Company's business is characterized by rapid technological  change, new
product development and evolving industry  standards.  Inherent in the Company's
business are various risks and  uncertainties,  including its limited  operating
history,  unproven  business  model and the  limited  history of commerce on the
Internet.

     The Company's success may depend in part upon the emergence of the Internet
as  a  communications  medium,   prospective  product  development  efforts  and
acceptance of the Company's brand name and products in the marketplace.

     The  Company  was  incorporated  in 1968  under  the  laws of the  State of
Florida.  Its executive  offices were located in Miami,  Florida until September
1992 when such offices were  relocated to  Bedminster,  New Jersey.  During June
1999  stockholders  approved  an  amendment  to  reincorporate  in the  state of
Delaware.



<PAGE>



Results of Operations
---------------------

     Available  cash is  invested  in U.S.  Treasury  Securities  with  original
maturities  of less than three months.  For the three months ended  November 30,
1999 interest income was $22,000  compared to $25,000 for the comparable  period
of the prior  fiscal  year.  The  decrease in  interest  income was due to lower
invested balances.

     General, administrative and other expenses were $77,000 and $16,000 for the
three months ended November 30, 1999 and 1998, respectively. A management fee of
$12,500 per quarter is paid to an affiliated  company for accounting,  financial
and  administrative  management.  The fee is based on the affiliate's  estimated
costs,  and management  believes that the allocation  method is reasonable.  The
remaining general and  administrative  expenses for the three month period ended
November  30, 1999  consists  primarily  of salary  expenses of $25,000,  health
insurance  expenses  of $18,000  and legal  expenses  of  $10,000.  Amortization
expense of $49,000  was  incurred  in  connection  with the  acquisition  of PKG
Design, Inc. for the three months ended November 30, 1999.

Liquidity and Capital Resources
-------------------------------

     At November 30, 1999,  cash and cash  equivalents  and working capital were
approximately $1,981,000 and $1,980,000  respectively.  U.S. Treasury Securities
of  approximately  $1,900,000  mature at various dates through February 10, 2000
and bear interest rates ranging from 4.84% to 5.18%.

Year 2000 Matters
-----------------

     The Year 2000 Issue is the result of computer  programs being written using
two digits rather than four to define the applicable  year. Any of the Company's
computer  programs that have time sensitive  software may recognize a date using
"00" as the year 1900  rather  than the year 2000.  Miscalculations  could cause
disruption of operations, including, among other things a temporary inability to
process transactions or engage in similar normal business activities.

     Management  has  determined   that  the  Year  2000  Issue  will  not  pose
significant  operational problems for its internal computer systems. The Company
uses "off the shelf" accounting software to maintain its accounting systems. All
of these  software  applications  are already Year 2000  compliant.  The cost of
being Year 2000 compliant was nominal. All costs associated with this conversion
have been  expensed as incurred.  Additionally,  the Company has  contacted  its
principal suppliers of hardware,  software, and Internet services. All suppliers
have provided Year 2000 compliance statements.



<PAGE>




        Item 6. -      Exhibits and Reports on Form 8-K
        -------        --------------------------------


        (27)           Financial Data Schedule



        (b)       Reports on Form 8-K
                  -------------------

                  None




<PAGE>


                                    SIGNATURE



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


                                              GOLF ROUNDS.COM, INC.




Dated: December 23, 1999                      By: /s/ John W. Galuchie, Jr.
                                                  -----------------------------
                                                  John W. Galuchie, Jr.
                                                  Vice President and Treasurer