UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-K/A


                             ARROW MANAGEMENT, INC.
             (exact name of Registrant as specified in its charter)


         NEVADA                                               87-0467339
(State or other jurisdiction of                            (I.R.S. Employer
incorporation or organization)                          Identification Number)


1800 E. Sahara, Suite 107
Las Vegas, Nevada                                          89104
(Address of principal executive offices)                 (Zip Code)


Registrant's telephone number, including area code (801) 485-7775



                                 AMENDMENT NO. 1

     The undersigned  registrant  hereby amends the following  items,  financial
statements,  exhibits or  other portions  of  its Form 10-K  for the  year ended
December 31, 1998, dated April 14, 1999 as set forth below:


ITEM 12.  Security Ownership of Certain Beneficial Owners and Management.

         The following  table sets forth,  as of December 31, 1998,  information
regarding the beneficial ownership of shares by each person known by the Company
to own five percent or more of the outstanding  shares, by each of the directors
and by the officers and directors as a group.
<TABLE>
<CAPTION>

                          Name and address                                Amount of                   Percent
Title of class            of beneficial owner                        beneficial ownership            of class

<S>                       <C>                                             <C>                          <C>
Common Stock              Capital General Corporation(1,2)                3,714,300                    66.56%
                          3098 So. Highland Drive, Suite 460
                          Salt Lake City, Utah  84106

Common Stock              David R. Yeaman(1,2,3)                          1,534,000                    27.49%
                          3098 So. Highland Drive, Suite 460
                          Salt Lake City, Utah  84106

Common Stock              Krista Nielson(1,2)                                80,000                     1.43%
                          3098 So. Highland Drive, Suite 460
                          Salt Lake City, Utah  84106

Common Stock              All Officers and Directors as a Group(1,2,3)    5,328,300                    95.48%

</TABLE>


<PAGE>

  (1)Capital  General  Corporation,  Krista  Nielson,  David R. Yeaman and Sasha
Belliston may be  deemed to be the Company's "parents" and "promoters," pursuant
to the Rules and Regulations promulgated under the 1933 Act.

  (2)Capital General Corporation is a private  corporation.  The majority of its
shares (80%) are owned by another private corporation,  Yeaman Enterprises, Inc.
Krista  Nielson,   the  Company's  President,  owns  approximately  18%  of  the
outstanding stock  of Capital General.  The  stockholders  of Yeaman Enterprises
are the adult children of the family of David Yeaman, who resigned as an officer
and  director of  the  Company and  simultaneously  resigned  as an  officer and
director  of  Capital  General  and  Yeaman  Enterprises in  April, 1997.  Sasha
Belliston,  Mr.  Yeaman's  daughter,  is  the  principal  shareholder  of Yeaman
Enterprises.

Ms. Belliston's beneficial ownership of the securities of the Company is derived
from the shares directly  owned by Capital General  and Yeaman Enterprises.  Ms.
Belliston  beneficially owns  shares  of the Company  which are  owned by Yeaman
Enterprises and Capital General in that she has the power to vote  or direct the
voting of the shares and  the power to dispose  of or  to direct the disposition
of the  shares.  Ms. Belliston  and  Ms. Nielson  control  and  have  beneficial
ownership  of the shares  owned by  Capital General  and  Yeaman Enterprises and
exercise shared  voting  power and  shared  investment power  over those shares.
While  Mr. Yeaman  has resigned  from his  affiliation  with the Company, Yeaman
Enterprises and Capital General,  he may  continue to be  deemed an affiliate of
the Company  by virtue  of  his  familial and  historical relationships with the
Company, its shareholders, officers and directors.

(3) Ms. Belliston has power of attorney over the shares owned by David Yeaman.



                                   SIGNATURES

     Pursuant to the  requirements  of the  Securities and Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                             ARROW MANAGEMENT, INC.


Dated: November 8, 1999            s/ Krista Nielson
                              -------------------------------------------------
                              Krista Nielson, President, CEO and Director


Dated: November 8, 1999            s/ Sasha Belliston
                              -------------------------------------------------
                              Sasha Belliston, Secretary/Treasurer and Director