SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB
(Mark One)

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

For the quarterly period ended:  December 31, 1998

     OR

[  ] 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: 0-17304

                              CNH Holdings Company
                              --------------------
        (Exact name of small business issuer as specified in its charter)

            Nevada                                               11-2867201
            ------                                               ----------
(State or other jurisdiction of                              (I.R.S. employer
incorporation or organization)                            identification number)

                       P.O. Box 832, Kilgore, Texas 75663
                       ----------------------------------
               (Address of principal executive offices) (Zip Code)

Issuer's telephone number, including area code: (903) 984-6425

Indicate by check mark whether the issuer (1) has filed all reports  required to
be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 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 X No

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date: As of March 5, 1999, there were
approximately 7,194,210 shares outstanding.


<PAGE>

                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements


                      CNH HOLDINGS COMPANY AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS


                                                      December 31,   March 31,
                                                         1998          1998
                                                         ----          ----
                                                     (Unaudited)     (Audited)

             ASSETS

Current Assets
   Cash on deposit                                   $    14,120    $         0
   Accounts receivable-trade                              88,060              0
   Stock subscriptions receivable                         16,750        100,000
   Employee advances                                     102,519              0
   Note receivable                                        34,500              0
                                                     -----------    -----------
     Total Current Assets                            $   255,949    $   100,000
                                                     ===========    ===========
Property, Plant and Equipment
   Land                                              $    70,000    $         0
   Oil and gas leasehold costs                           144,146              0
   Other equipment                                       264,905              0
                                                     -----------    -----------
                                                     $   479,051    $         0
   Less accumulated depreciation and depletion            29,874              0
                                                     -----------    -----------
Net Property, Plant and Equipment                    $   449,177    $         0
                                                     -----------    -----------
Other Assets
   Organizational costs, net of accumulated
    amortization in the amount of $383               $     1,617    $         0
   Utility deposits                                        3,650              0
                                                     -----------    -----------
     Total Other Assets                              $     5,267    $         0
                                                     -----------    -----------

     TOTAL ASSETS                                    $   710,393    $   100,000
                                                     ===========    ===========

<PAGE>


      LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
   Accounts Payable                                  $   308,496    $         0
   Accrued expenses                                        6,937              0
   Note payable-shareholder                               58,600              0
   Current portion long term debt                          6,609              0
                                                     -----------    -----------
     Total Current Liabilities                       $   380,642              0
                                                     -----------    -----------
Long Term Debt
   Mortgage note payable                             $    70,000    $         0
   Other notes payable                                   144,348              0
                                                     -----------    -----------

     Total Long Term Debt                            $   214,348    $         0
                                                     -----------    -----------

       TOTAL LIABILITIES                             $   594,990    $         0
                                                     ===========    ===========
STOCKHOLDERS' EQUITY
  10% Class A preferred stock;
      Authorized 1,000,000
      shares, $.01 par value,
      200,000 shares issued
      and outstanding at
      December 31                                    $     2,000    $         0
  Common stock, 10,000,000
      shares $.001 par value
      authorized; issued and
      outstanding 7,194,210 at
      December 31 and 950,000
      at March 31                                          7,194            950
  Additional paid in capital                           5,228,945      4,941,034
  Retained earnings (deficit)                         (5,122,736)    (4,841,984)
                                                     -----------    -----------

     TOTAL STOCKHOLDERS' EQUITY                      $   115,403    $   100,000
                                                     -----------    -----------

TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY                                 $   710,393    $   100,000
                                                     ===========    ===========


<PAGE>

                      CNH HOLDINGS COMPANY AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
          FOR THE THREE MONTHS AND NINE MONTHS ENDED DECEMBER 31, 1998

                                                        THREE            NINE
                                                        MONTHS          MONTHS
                                                        ------          ------
REVENUES

   Oil and gas revenues                               $  62,022       $  83,870
   Overhead income                                       24,726          32,527
   Service income                                       112,716         330,281
   Equipment rental income                               13,674          17,660
   Other                                                      0          11,265
                                                      ---------       ---------
     Total revenues                                   $ 213,138       $ 475,603
                                                      ---------       ---------
COSTS AND EXPENSES

   Direct costs                                       $ 246,328       $ 488,681
   Depreciation and amortization                          9,591          20,038
   Selling, general and administrative                   95,785         214,483
                                                      ---------       ---------
     Total costs and expenses                         $ 351,704       $ 723,202
                                                      ---------       ---------
     Net income (loss) from operations                $(138,566)      $(247,599)
                                                      ---------       ---------
OTHER INCOME (EXPENSES)

   Interest income                                    $      77       $     244
   Interest expense                                     (13,991)        (33,397)
                                                      ---------       ---------
     Total other income (expenses)                    $ (13,914)      $ (33,153)
                                                      ---------       ---------
     Net income (loss)                                $(152,480)      $(280,752)
                                                      ---------       ---------


<PAGE>
<TABLE>
<CAPTION>

                         CNH HOLDINGS COMPANY AND SUBSIDIARIES
                         CONSOLIDATED STATEMENT OF CASH FLOWS
              FOR THE THREE MONTHS AND SIX MONTHS ENDED December 30, 1998

                                                                  THREE         NINE
                                                                  MONTHS       MONTHS
                                                                  ------       ------
OPERATING ACTIVITIES
<S>                                                             <C>          <C>       
Net income (loss)                                               $(152,480)   $(280,752)
  Adjustments to reconcile net income (loss) to net cash
     provided by operating activities:
        Depreciation and amortization                               9,591       20,037
        (Increase) decrease  in accounts receivable-trade         (28,082)     (88,060)
        (Increase) decrease in stock subscriptions receivable      11,333       83,250
        (Increase) decrease in employee advances                  (56,969)    (102,519)
        (Increase) decrease in note receivable                          0      (34,500)
        Increase (decrease) in accounts payable                   135,688      308,496
        Increase (decrease) in accrued expenses                    (1,838)       6,937
        Increase (decrease) in note payable shareholder            48,600       58,600
        Increase (decrease) I current portion long-term debt            0            0
                                                                ---------    ---------
NET CASH PROVIDED BY OPERATING ACTIVITIES                       $ (34,157)   $ (28,511)
                                                                ---------    ---------
INVESTING ACTIVITIES
  Purchase of oil and gas properties                            $       0    $(144,146)
  Purchased of land                                                     0      (70,000)
  Purchase of other equipment                                      (1,415)     (40,198)
  Increase in organizational costs                                      0       (1,767)
  Increase in utility deposits                                       (300)      (3,650)
  Purchase of net book value of other equipment
      due to acquisition                                                0     (214,720)
                                                                ---------    ---------
NET CASH PROVIDED BY (USED) IN
         INVESTING ACTIVITIES                                   $  (1,715)   $(474,481)
                                                                ---------    ---------
FINANCING ACTIVITIES
  Proceeds from mortgage note payable                           $       0    $  70,000
  Proceeds from other long term borrowings                              0      163,733
  Repayment of long term debt                                      (1,056)     (12,776)
  Proceeds from sale of preferred stock                                 0        2,000
  Proceeds from sale of common stock                                    0      294,155
                                                                ---------    ---------
NET CASH PROVIDED BY (USED IN)
     FINANCING ACTIVITIES                                       $  (1,056)   $ 517,112
                                                                ---------    ---------
INCREASE (DECREASE) IN CASH                                     $ (36,928)   $  14,120

Cash at beginning of period                                        51,048            0

CASH AT END OF PERIOD                                           $  14,120    $  14,120
                                                                =========    =========

</TABLE>
<PAGE>
<TABLE>
<CAPTION>


                                           CNH HOLDINGS COMPANY AND SUBSIDIARIES
                                 CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
                                        FOR THE NINE MONTHS ENDED DECEMBER 30, 1998

                                                                           ADDITIONAL       RETAINED
                                       PREFERRED           COMMON           PAID IN         EARNINGS
                                         STOCK             STOCK            CAPITAL         (DEFICIT)           TOTAL
                                         -----             -----            -------         ---------           -----
Balance as of

<S>                                   <C>               <C>               <C>              <C>               <C>        
March 31, 1998                        $         0       $       950       $ 4,941,034      $(4,841,984)      $   100,000

Issuance of 200,000
  shares of 10% Class A
  preferred stock and
  6,000,000 shares of
  common stock for the
  acquisition of Southport
  Environmental and
  Development, Inc. and
  a one-third interest in
  NORM Services Group, LLC                  2,000             6,000           177,666                            185,666

Balance as of June
     30, 1998                         $     2,000       $     6,950       $ 5,118,700      $(4,841,984)      $   285,666

Issuance of 244,210
 shares of common stock
 for the acquisition of
 the remaining two-thirds
 interest in NORM
 Services Group, Inc.                                           244           110,245                            110,489

Net income (loss) for the three
    months ended September 30                                                                 (128,272)         (128,272)

Balance as of
   September 30, 1998                 $     2,000       $     7,194       $ 5,228,945      $(4,970,256)      $   267,883

Net income (loss) for the three
    months ended December 31                                                                  (152,480)         (152,480)

Balance as of
   December 31, 1998                  $     2,000       $     7,194       $ 5,228,945      $(5,122,736)      $   115,403


</TABLE>
<PAGE>

                      CNH HOLDINGS COMPANY AND SUBSIDIARIES
            CONDENSED FOOTNOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                DECEMBER 31, 1998

1.   Organization  The  financial   statements   include  the  Company  and  its
wholly-owned  subsidiaries,  Southport Environment and Development,  Inc. (SEDI)
and NORM Services Group, Inc. (NORM) All significant inter-company  transactions
have been eliminated.

SEDI was  incorporated  on June 1, 1998, and is involved in the  exploration for
and  development of oil and gas  properties.  It acquired oil and gas properties
with a remaining cost basis of $144,146 from two individuals,  Messrs.  Tate and
Pybas,  in an IRC Section 351 transfer.  In return,  the  shareholders  received
40,000 shares of SEDI common stock. These individuals were the sole shareholders
of SEDI  prior to June  15,  1998.  On June 15,  1998,  Messrs.  Tate and  Pybas
exchanged their 40,000 shares of SEDI and approximately 1/3rd of the outstanding
interest of NORM which they held for 200,000 shares of the Class A: 10% Dividend
Bearing Preferred Stock and 6,000,000 common shares of the Company. The exchange
was made on a tax free basis  pursuant  to IRC  Section  368(b).  SEDI  became a
wholly-owned  subsidiary  of the  Company and  Messrs.  Tate and Pybas  acquired
control of the Company.

NORM was originally  formed as a Texas limited liability company on February 26,
1997, and commenced operations in May, 1997. NORM is involved in the remediation
of naturally occurring  radioactive  materials and non-hazardous  oilfield waste
materials along the gulf coast of Texas and Louisiana. NORM became a corporation
on July 21, 1998.

On August 7, 1998, NORM acquired all of the  partnership  assets and liabilities
of NSG Rentals,  a Texas general  partnership in exchange for common stock.  The
operations  of NSG  Rentals are now a division  of NORM.  NSG Rentals  commenced
operations on March 4, 1998,  renting and servicing oil field equipment.  Two of
the three equal partners in NSG Rentals were Messrs. Tate and Pybas.


<PAGE>


Also on August 7, 1998, the Company acquired the remaining outstanding interests
of NORM  which  it did not then own in a tax free  exchange  under  IRC  Section
368(b), issuing 244,210 shares of common stock in exchange.

2. Supplementary Oil and Gas Information.

Changes in present value of estimated future net cash
   flows from proved oil and gas reserves:

   Present value at beginning of the period                       $ 2,044,232
   Additions and revisions, net of future estimated
       development and production costs and net of
       properties sold                                                      0
   Sales of oil and gas, net of lifting costs                          (4,624)
                                                                  -----------
   Present value at end of period                                   2,039,608
                                                                  ===========
   Changes in proved oil and gas reserves:
                                                                   Oil (Bbls)
   Proved reserves
      Balance at beginning of period                                  349,946
      Properties sold                                                       0
      Additions and revisions to previous estimates                         0
      Production                                                       (6,709)
                                                                  -----------
      Balance at December 31, 1998                                    343,237
                                                                  ===========

Future net cash flow from proved oil and gas reserves:

                                                 Future net cash flows
                                                 at December 31, 1998
                                           -----------------------------------
                                           Total Proved       Proved Developed
          December 31                       Reserves               Reserves
         --------------                     --------               -------

             1999                          $   53,191            $   53,191
             2000                             169,384               169,384
             2001                             181,848               181,848
          Remainder                         1,866,943             1,866,943
                                           ----------            ----------
                                            2,271,367             2,271,367
                                           ==========            ==========


<PAGE>


Present value of future net cash flows discounted at 10%:

                                                            Proved
December 31                            Proved              Developed
-----------                            ------              ---------

   1998                              $   47,872            $   47,872
   1999                                 152,450               152,450
   2000                                 163,660               163,660
Thereafter                            1,680,250             1,680,250
                                     ----------            ----------
                                      2,044,232             2,044,232
                                     ==========            ==========

The  following  accounting  policies  have been used in  preparing  the  Reserve
Recognition Accounting (RRA) presentation.  The summary of oil and gas producing
activities on the basis of RRA was prepared based on the rules of the Securities
and Exchange Commission (SEC).

Under RRA,  earnings are  recognized  as proved  reserves are found based on the
estimated  present  value  of  such  reserves,   computed  as  described  below.
Subsequent  revisions to the RRA  valuation  of proven  reserves are included in
earnings as they occur.  Proved  reserves  are those  quantities  of oil and gas
which can be expected,  with little doubt,  to be  recoverable  commercially  at
current prices and costs under existing operating methods.

The proved  reserves  and  related  valuations  were  computed by the Company in
accordance  with the  rules of the  SEC.  Estimated  future  net  revenues  were
computed by applying  current prices received by the Company to estimated future
production of reserves,  less estimated future  development and production costs
and windfall  profit taxes based on current costs. A discount  factor of 10% was
applied to the estimated future revenues to compute the estimated  present value
of proved oil and gas reserves.

This valuation  procedure does not necessarily result in an estimate of the fair
market value of the Company's oil and gas properties.

Totals of proven reserves are inherently imprecise estimates and are continually
subject  to  revision  based  on  production  history,   results  of  additional
exploration and development, price changes and other factors.

"Additions to reserves" are the result of current  acquisitions  and development
activities.  Increases in prices are the approximate effect on the RRA valuation
of proven  reserves due to price  changes.  Other  revisions  represent  the net
effect of all revisions to estimated quantities of proven reserves. Accretion of
discount was computed by  multiplying  10% times the present value of future net
revenues  as of  the  beginning  of  the  year,  adjusted  to  reflect  downward
revisions.

<PAGE>



Evaluated  acquisition,  exploration,  development and production  costs include
current and  estimated  future  costs  associated  with the current year reserve
additions.  Such  expenses  include  property  acquisitions,  well costs,  lease
rentals and abandonment.  The cost of acquiring unproven properties and drilling
exploratory wells are deferred until the properties are evaluated and determined
to be either  productive  or  nonproductive,  at which time they are  charged to
expense.  There were no deferred  acquisition and exploration  costs at December
31, 1998.

The provision for income taxes is based on the  "liability"  method  computed by
applying the current  statutory  income tax rate to the  difference  between the
year end RRA  valuation of proven  reserves and the tax basis in the  properties
less estimated  investment tax credits and statutory  depletion  associated with
future development costs.

3. Accounts Receivable

Various  accounts   receivable  of  NORM  have  been  factored  to  a  financial
institution.  As the accounts are factored,  it is the Company's  policy to show
that  account as having been paid.  The Company  pays a 3% fee to the  financial
institution  as the accounts are factored.  In addition,  a reserve  account has
been established  whereby 10% of the amount factored is deposited.  This reserve
account  was  established  in order to cover any  losses  which may arise due to
non-payment of the account by the customer to the financial institution.  At the
end of every month the financial  institution  evaluates the unpaid invoices and
the  balance  in  the  reserved  account  in  order  to  determine  the  reserve
requirements.  Any excess amounts in the reserve account are then transferred to
the Company's general operating account. As of December 31, 1998, no account has
been repurchased from the financial institution.

As of December 31, 1998, the balance of the factored accounts was $57,548.

4. Property Plant and Equipment

The Company  depreciates  it's property,  plant and equipment over the estimated
useful lives using the straight line depreciation method for financial statement
purposes and using the Modified  Accelerated  Cost  Recovery  System for federal
income tax purposes.

5. Mortgage Payable.

The mortgage note is payable to Messrs. Tate and Pybas, and is secured by a deed
of trust  dated  January 2, 1998.  The deed of trust is for  approximately  47.6
acres  which  are  used  for the  disposal  of  non-hazardous  oil  field  waste
materials.  The note  provides for interest at ten percent per annum and is due,
principal and interest, on or before January 2, 1999. It is the intention of the
note  holders,  Messrs.  Tate and Pybas,  to renew the note at maturity  for one
year; therefore, no provision for current portion has been provided for.

<PAGE>



6. Other Notes Payable.

     A summary of the other notes payable follows:

     Note  payable to City  National  Bank,  in the original
     amount of $120,000, payable on demand, but if no demand
     is made,  then  interest only monthly and principal and
     accrued interest due April,  1999,  bearing interest at
     9.50%, secured by equipment                                        $113,000

     Note  payable to Citizens  State Bank,  in the original
     amount of $27,000,  payable on demand, but if no demand
     is made,  then unpaid  principal  and interest at 9.75%
     due May, 1999, secured by equipment                                  27,000

     Note payable to Guaranty  Federal Bank, in the original
     amount of $16,566,  payable in monthly  installments of
     $625, including interest at 9.95%, secured by vehicle                10,957

          Sub-Total                                                      150,957

          Less current portion                                             6,609

          Total                                                          144,348

No provision for current portion of long-term debt has been provided for the two
demand notes payable because  management intends to renew, and fully expects the
financial institutions to renew, at maturity.

7. Commitments and Contingent Liabilities:

A. As of December  31,  1998,  NORM had entered  into  several  equipment  lease
agreements for the leasing of heavy-duty tractors and trailers.  The leases have
been classified as operating leases because,  according to their terms,  NORM is
required to return the equipment to the leasing  company at the end of the term;
however,  management has the option to purchase the leased  equipment at the end
of the term for the then current fair market value.  Management does not at this
time intend to exercise  this right.  The leases were  entered  into in January,
1998, and will expire January, 2002. The monthly lease amount is $4,304.

B. NORM  leases  it's  offices in South  Texas.  This  two-year  lease calls for
monthly rentals of $2,500 through July 31, 1999, and $3,000 from August 1, 1999,
through July 31,  2000.  NORM has the option of  purchasing  the property at any
time prior to expiration  for $295,000.  Should NORM elect to purchase,  the sum
of$1,250  per month for the first year of the lease and $1,750 per month for the
second  will be credited  against  the  purchase  price.  At the  present  time,
management  does not  intent to  exercise  this  option;  therefore,  all rental
payments have been classified as a current period expense.


<PAGE>


C. NORM has factored,  with recourse,  certain of it's accounts  receivable to a
financial  institution.  The financial institution notifies the customer of each
invoice factored, who is requested to remit payment directly to the institution.
The  agreement  stipulates  that should any of the invoices  remain unpaid after
ninety days NORM will repay the invoice.  As of December  31,  1998,  the amount
factored was $57,548, and all accounts factored were current.

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

Results of Operations: The Company had no revenues, operating or otherwise, from
1991 through the period  covered by this report.  Correspondingly,  all expenses
during these  periods were  administrative  in nature and  immaterial in amount.
Further, the acquisition by the Company of Southport Environmental, Inc. (SEDI),
and 1/3rd of the outstanding interest of NORM Services Group, LLC, (subsequently
exchanged for 1/3rd of NORM Services Group,  Inc., in a tax-free  roll-up of the
LLC into a corporation)  did not occur until June 15, 1998, and the  acquisition
by the Company of the remaining  2/3rds interest in NORM Services  Group,  Inc.,
did not occur  until  August  7,  1998.  SEDI and NORM did not have  significant
operations during the corresponding period of the previous fiscal year; thus, no
meaningful  comparison  can be made  between the fiscal  period  covered by this
report and the corresponding period of the previous fiscal year.

SEDI and NORM both  continued to exert their efforts in the further  development
of their respective businesses during the period covered by this report.

Liquidity  and Capital  Resources:  The Company had no  liquidity  sources  from
fiscal 1990 through the calendar year ended 1997,  however, a stock subscription
by a consultant  provided a source of liquidity during the first three months of
fiscal 1999. All administrative matters through June 15, 1998, were provided for
by the  executive  officer of and attorney for the Company in exchange for those
shares  issued to them on May 3,  1996.  Cash  flows  from  operations  provided
liquidity to SEDI and NORM for the period covered by this report;  however, each
of these entities suffered a loss from operations.  NORM has factored various of
its accounts  receivable to a financial  institution.  NORM pays a 3% fee to the
financial  institution  on factoring and  established a reserve where 10% of the
amount factored is deposited so as to cover any collection failures. The reserve
account is balanced  out at the end of each  month.  At December  31,  1998,  no
account had failed to pay.

Cash flows used by operations were ($34,157) and ($28,511), respectively for the
three and nine month periods ended  December 31, 1998,  primarily as a result of
increases in accounts payable of $135,688 and 308,496,  respectively,  increases
of $56,969 and  $102,519,  respectively,  in employee  advances and decreases in
stock subscriptions  receivable of $11,333 and 83,250,  respectively.  Investing
activities decreased cash by ($1,056) and ($474,481),  respectively primarily as
a result of the payments of $144,146 in the purchase of oil and gas  properties,
the  payment of $70,000 to Messrs.  Tate and Pybas for the  purchase  of certain
land from them which is used in the business of NORM,  the purchase of equipment
($40,198)  and the net book value of other  equipment  ($214,720)  acquired from
SEDI and  NORM on June 15,  1998,  and  August  7,  1998.  Financing  Activities
provided $70,000 in borrowings from Messrs.  Tate and Pybas,  $163,733 from long
term  borrowings and $294,155 from the sale of common stock of the Company.  The
result of the  foregoing  was an increase in cash of $14,120 for the nine months
ended December 31, 1998.


<PAGE>


                           PART II - OTHER INFORMATION

Item 1. Litigation. This item is not applicable to the Company.

Item 2. Change in Securities. This item is not applicable to the Company.

Item 3.  Defaults  Upon Senior  Securities.  This item is not  applicable to the
Company.

Item 4.  Submission of Matters to a Vote of Security  Holders.  This item is not
applicable to the Company.

Item 5. Other Information. This item is not applicable to the Company.

Item 6.  Exhibits and Reports on Form 8-K.  This item is not  applicable  to the
Company.

                                   SIGNATURES

Pursuant to the  requirements of Section 13 or 15(d) 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  this 22nd day of March,
1999.


CNH Holdings Company (Registrant)

By: /s/ Larry V. Tate
   --------------------------------------
   Larry V. Tate, Chief Executive Officer

By: /s/ Helen Wallace
   --------------------------------------
   Helen Wallace, Chief Financial
   and Accounting Officer
   and Treasurer
                                  * * * * * * *