UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   FORM 10-QSB

[X]     QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE  SECURITIES  EXCHANGE
        ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 1999.


[ ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES AND
        EXCHANGE ACT OF 1934.

          FOR THE TRANSITION PERIOD FROM ____________ TO _____________


                         Commission File Number 0-21931

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

              DELAWARE                              22-3440510
    -------------------------------             -------------------
    (State or other jurisdiction of             (I.R.S. Employer
    incorporation or organization)              Identification No.)

                               59 LaGrange Street
                            Raritan, New Jersey 08869
                    -----------------------------------------
                    (Address of principal executive offices)

                                 (908) 253-6870
                           --------------------------
                           (Issuer's telephone number)


     Check  whether  the issuer (1) filed all  reports  required  to be filed by
Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 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[ ]

The number of shares outstanding of the Issuer's Common Stock, $.0001 Par Value,
as of November 14, 1999 was 6,648,079.
<PAGE>

                                 AMPLIDYNE, INC.
                                   FORM 10-QSB
                      NINE MONTHS ENDED SEPTEMBER 30, 1999

                                TABLE OF CONTENTS


PART 1 - FINANCIAL INFORMATION

Item 1   Financial Statements (Unaudited):

         Balance Sheets......................................................1-2

         Statements of Operations..............................................3

         Statement of Cash Flows...............................................4

         Statement of Changes in Stockholder's Equity..........................5

         Notes to Financial Statements.......................................6-8

Item 2   Management's Discussion and Analysis of Financial
           Condition and Results of Operations..............................9-10

PART II - OTHER INFORMATION

Item 2.  Change in Securities.................................................11

Signatures....................................................................12

Exhibit 27- Financial Data Schedule...........................................13

<PAGE>

                         PART 1 - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS
<TABLE>
<CAPTION>

                                 AMPLIDYNE, INC.
                                 BALANCE SHEETS

                                     ASSETS

                                                          December 31, September 30,
                                                             1998*         1999
                                                           ----------   ----------
                                                                        (Unaudited)
<S>                                                        <C>          <C>
CURRENT ASSETS
  Cash and cash equivalents                                $  427,510   $1,288,427
  Accounts receivable, net of allowance for
     doubtful accounts of $181,000 at September 30, 1999
     and $86,000 at December 31, 1998                         440,516      290,773
  Inventories                                                 558,685      863,769
  Prepaid expenses and other current assets                    14,206        7,185
                                                           ----------   ----------

    Total current assets                                    1,440,917    2,450,154
                                                           ----------   ----------

PROPERTY AND EQUIPMENT - AT COST
  Machinery and equipment                                     540,116      557,580
  Furniture and fixtures                                       43,750       43,750
  Autos and trucks                                             61,183       61,183
  Leasehold improvements                                        4,162        6,997
                                                           ----------   ----------
                                                              649,211      669,510
    Less: Accumulated depreciation and amortization           342,052      430,230
                                                           ----------   ----------
      Net                                                     307,159      239,280
                                                           ----------   ----------

LONG TERM ACCOUNTS RECEIVABLE
    Net of allowance for doubtful accounts of $30,000              --       60,000

OTHER ASSETS                                                   35,000       75,074
                                                           ----------   ----------
TOTAL ASSETS                                               $1,783,076   $2,824,508
                                                           ==========   ==========
</TABLE>

* Derived from Company's audited Balance Sheet at December 31, 1998

    The accompanying notes are an integral part of these financial statements

                                       1
<PAGE>
<TABLE>
<CAPTION>
                                 AMPLIDYNE, INC.
                                 BALANCE SHEETS

                      LIABILITIES AND STOCKHOLDERS' EQUITY

                                                               December 31,    September 30,
                                                                  1998*            1999
                                                               ------------    ------------
                                                                                (Unaudited)
<S>                                                            <C>             <C>
CURRENT LIABILITIES
  Current maturities of lease obligations                      $     70,311    $     16,430
  Accounts payable                                                  220,991         229,018
  Accrued expenses                                                  255,439         122,660
  Deferred compensation                                              27,100              --
  Stockholders' loan                                                  5,051              --
                                                               ------------    ------------

    Total current liabilities                                       578,892         368,108

LONG-TERM LIABILITIES
  Lease obligations, less current maturities                         36,933          27,004
                                                               ------------    ------------

TOTAL LIABILITIES                                                   615,825         395,112
                                                               ------------    ------------

STOCKHOLDERS' EQUITY
  Preferred stock - authorized, 1,000,000 shares
    of $.0001 par value; 0 shares
    outstanding at December 31, 1998 and September 30, 1999              --              --
  Common stock - authorized, 25,000,000 shares
    of $.0001 par value; 4,703,333 shares and
    6,644,079 shares issued and outstanding at
    December 31, 1998 and September 30, 1999, respectively              470             664
  Additional paid-in-capital                                     12,735,817      15,339,916
  Accumulated deficit                                           (11,569,036)    (12,911,184)
                                                               ------------    ------------

    Total stockholders' equity                                    1,167,251       2,429,396
                                                               ------------    ------------

TOTAL LIABILITIES AND
  STOCKHOLDERS' EQUITY                                         $  1,783,076    $  2,824,508
                                                               ============    ============
</TABLE>

* Derived from Company's audited Balance Sheet at December 31, 1998

    The accompanying notes are an integral part of these financial statements

                                       2
<PAGE>
<TABLE>
<CAPTION>
                                         AMPLIDYNE, INC.
                                     STATEMENTS OF OPERATIONS
                                           (UNAUDITED)

                                           Three          Three          Nine           Nine
                                           Months         Months         Months         Months
                                           Ended          Ended          Ended          Ended
                                          Sept. 30,      Sept. 30,      Sept. 30,      Sept. 30,
                                             1998          1999           1998           1999
                                         -----------    -----------    -----------    -----------
<S>                                      <C>            <C>            <C>            <C>
Net Sales                                $   331,353    $   229,587    $ 1,155,864    $ 1,307,669
Cost of goods sold                           204,705        348,091        951,679      1,308,400
                                         -----------    -----------    -----------    -----------

  Gross profit (loss)                        126,648       (118,504)       204,185           (731)

Operating expenses
 Selling, general & admin                    223,327        301,993        758,657        993,521
 Research, eng. & devel                      125,467        124,662        389,632        392,074
                                         -----------    -----------    -----------    -----------

  Operating loss                            (222,146)      (545,159)      (944,104)    (1,386,326)

Other nonoperating income (expense)
 Interest income                              19,166          6,737         67,575         18,260
 Interest expense                             (3,654)       (14,133)       (13,439)       (27,778)
 Other Income                                195,000             --        195,000         60,000
                                         -----------    -----------    -----------    -----------

  Loss before income taxes                   (11,634)      (552,555)      (694,968)    (1,335,844)
                                         -----------    -----------    -----------    -----------

Provision for income taxes                     6,049          4,304          6,724          6,304

  NET LOSS                               $   (17,683)   $  (556,859)   $  (701,692)   $(1,342,148)
                                         ===========    ===========    ===========    ===========


Net loss per share - basic and diluted   $      (.00)   $      (.09)   $      (.16)   $      (.24)
                                         ===========    ===========    ===========    ===========

Weighted average number of shares
outstanding                                4,417,370      6,003,462      4,417,370      5,482,185
                                         ===========    ===========    ===========    ===========
</TABLE>

    The accompanying notes are an integral part of these financial statements

                                        3
<PAGE>

                                              AMPLIDYNE, INC.
                                          STATEMENTS OF CASH FLOWS
                                                (UNAUDITED)
<TABLE>
<CAPTION>

                                                        Nine Months     Nine Months
                                                           Ended          Ended
                                                      Sept. 30, 1998  Sept. 30, 1999
                                                      --------------  --------------
Cash flows from operating activities:
<S>                                                     <C>            <C>
  Net Loss                                              $  (701,692)   $(1,342,148)
                                                        -----------    -----------
  Adjustments to reconcile net loss to net cash
    used in operating activities
      Provision for slow moving inventory                        --         20,000
      Provision for bad debts                                    --        125,000
      Stock compensation expense                                 --         18,750
      Stock used in lieu of accrued compensation
        and other liabilities                                    --        218,070
      Forgiveness of deferred compensation
       And other liabilities                               (195,000)       (60,000)
      Depreciation and amortization                          76,918         88,178
      Changes in assets and liabilities
        Accounts receivable                                 313,146        (35,257)
        Inventories                                        (327,323)      (325,084)
        Prepaid expenses and other assets                    (4,912)         6,396
        Accounts payable and accrued expenses                48,569        (91,852)
                                                        -----------    -----------
    Total adjustments                                       (88,602)       (35,799)
                                                        -----------    -----------
      Net cash used in operating activities                (790,294)    (1,377,947)
                                                        -----------    -----------

Cash flows from investing activities:
  Purchase of fixed assets                                   (1,901)       (20,299)
                                                        -----------    -----------
     Net cash used for investing activities                  (1,901)       (20,299)
                                                        -----------    -----------


Cash flows from financing activities:
  Payment in lease obligations                             (101,613)       (63,810)
  Loans to stockholders, net                                (98,000)       (44,500)
  Proceeds from common and preferred
   stock issuance, net                                       50,000      1,380,746
  Proceeds from exercise of
   warrants and options, net                                     --        986,727
                                                        -----------    -----------
  Net cash provided by (used in) financing activities      (149,613)     2,259,163
                                                        -----------    -----------

      NET INCREASE (DECREASE) IN CASH
       AND CASH EQUIVALENTS                                (941,808)       860,917

Cash and cash equivalents at beginning of year            2,039,012        427,510
                                                        -----------    -----------
Cash and cash equivalents at end of period              $ 1,097,204    $ 1,288,427
                                                        ===========    ===========

Supplemental disclosures of cash flow information
  Cash paid for:  Interest Income taxes                 $    13,993    $    27,778
                                                              6,524          4,304
</TABLE>

    The accompanying notes are an integral part of these financial statements

                                       4
<PAGE>
<TABLE>
<CAPTION>
                                              AMPLIDYNE, INC.
                                STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY
                                         FOR THE NINE MONTHS ENDED
                                             SEPTEMBER 30, 1999
                                                (UNAUDITED)


                                 PREFERRED STOCK                 COMMON STOCK
                           ---------------------------   ---------------------------    ADDITIONAL    ACCUMULATED
                              SHARES        PAR VALUE       SHARES        PAR VALUE   PAID-IN-CAPITAL  (DEFICIT)          TOTAL
                           ------------   ------------   ------------   ------------  --------------- ------------    ------------
<S>                        <C>            <C>              <C>            <C>          <C>           <C>              <C>
Balance at
December 31, 1998                                          4,703,333      $ 470        $ 12,735,817  $ (11,569,036)   $  1,167,251

Sale of Preferred Stock,
net                              50,000                                                     464,995                        465,000
                                         $      5

Conversion of Preferred to
Common Stock                    (50,000)       (5)           370,370         37                 (32)                             0

Sale of Common Stock,
net                                                          900,000         90             915,656                        915,746

Stock Compensation                                                                           18,750                         18,750

Issuance of common stock in
lieu of cash for accrued
salaries, commission and
deferred compensation
                                                             110,376         11             218,059                        218,070

Proceeds from exercise of
warrants and options, net                                    560,000         56             986,671                        986,727

Net Loss                                                                                                (1,342,148)     (1,342,148)
                                 ------  --------          ---------   --------        ------------  -------------    ------------
Balance at Sept 30, 1999              0  $      0          6,644,079   $    664        $ 15,339,916  $ (12,911,184    $  2,429,396
                                 ======  ========          =========   ========        ============  =============    ============
</TABLE>

    The accompanying notes are an integral part of these financial statements

                                       5
<PAGE>

                                 AMPLIDYNE, INC.
                          NOTES TO FINANCIAL STATEMENTS
                               SEPTEMBER 30, 1999

NOTE A - ADJUSTMENTS
In the  opinion  of  management,  all  adjustments,  consisting  only of  normal
recurring  adjustments  necessary  for  a  fair  statement  of  (a)  results  of
operations for the nine-month periods ended September 30, 1998 and September 30,
1999 (b) the financial  position at December 31, 1998 and September 30, 1999 (c)
the statements of cash flows for the nine-month periods ended September 30, 1998
and  September  30, 1999,  and (d) the changes in  stockholders'  equity for the
nine-month  period  ended  September  30, 1999,  have been made.  The results of
operations  for the nine months  ended  September  30, 1999 are not  necessarily
indicative of the results to be expected for the full year.

NOTE B - UNAUDITED INTERIM FINANCIAL INFORMATION
The accompanying unaudited financial statements have been prepared in accordance
with generally accepted accounting principles for interim financial information.
Accordingly,  they do not include all the information and footnotes  required by
generally accepted accounting principles for financial  statements.  For further
information, refer to the audited financial statements and notes thereto for the
year ended  December 31, 1998,  included in the Company's Form 10-KSB filed with
the Securities and Exchange Commission on April 15, 1999.

NOTE C - PUBLIC OFFERING AND OTHER SALES OF SECURITIES
A registration  statement covering an underwritten  public offering of 1,610,000
units at a price of $5.10  per unit,  prior to  underwriters'  commissions,  was
declared  effective by the  Securities  and Exchange  Commission  on January 21,
1997.  Each unit  consisted of one share of common  stock,  par value $.0001 per
share and one redeemable  common stock purchase  warrant.  Each warrant entitles
the holder to purchase one share for $6.00 during the  four-year  period  ending
January 21,  2001.  The  Company may redeem the  warrants at a price of $.01 per
warrant at any time with not less than thirty days' prior written  notice if the
average  closing  price  equals  or  exceeds  $9.00  per  share  for any  twenty
consecutive trading days.

In  January  1997  and  March  1997,  the  Company   received  net  proceeds  of
approximately $6,782,000, which included the overallotment of 210,000 units. The
proceeds  are net of legal fees,  underwriter's  fees and other  expenses of the
offering totalling approximately $1,429,000.

The  underwriter  received an option to purchase up to 140,000  shares of common
stock and 140,000 warrants under the same terms.

                                       6

<PAGE>

                                 AMPLIDYNE, INC.
                          NOTES TO FINANCIAL STATEMENTS
                               SEPTEMBER 30, 1999

NOTE C - PUBLIC OFFERING AND OTHER SALES OF SECURITIES (CONTINUED)
In March of 1999,  900,000  shares of common stock were issued through a private
placement.  The Company received net proceeds of $915,746.  The proceeds are net
of legal fees,  underwriting  fees and other expenses of the offering  totalling
$88,375.

In June of 1999,  50,000 shares of Series A Preferred  Stock,  $.0001 par value,
were  issued  through a private  placement  (at $10.00 per  share).  The Company
received net proceeds of $465,000, after deduction of fees. The Preferred Stock:
(I) are entitled to dividends at the annual rate of 6%,  payable  semi-annually,
in cash or in shares of  Common  Stock;  (ii) has a  liquidation  preference  of
$10.00 per share, (iii) is convertible into shares of Common Stock at the lesser
of (A) 110% of the average  closing  sales price of the Common Stock on the five
trading days prior to issuance or (B) 85% of the average  closing sales price of
the Common Stock for the five trading days prior to conversion, in each case not
less than $1.25 per share; (iv) is non-voting, (v) is subject to redemption; and
(vi) shall  automatically  convert  into  Common  Stock on June 30, 2002 (if not
previously converted).

In August 1999, all of such Series A preferred stock were converted into 370,370
shares of common stock.

NOTE D - LOSS PER SHARE
The Company complies with the requirements of the Financial Accounting Standards
Board issued Statement of Financial  Accounting Standards No. 128, "Earnings per
Share" ("SFAS No. 128").  SFAS No. 128 specifies the  compilation,  presentation
and  disclosure  requirements  for earnings per share for entities with publicly
held common stock or potential common stock.

Net loss per common share - basic and diluted is  determined by dividing the net
loss by the weighted  average number of common stock  outstanding.  Net loss per
common share - diluted does not include  potential  common  shares  derived from
stock options and warrants because they are antidilutive.

NOTE E - LITIGATION
The Company is a  defendant  to a  complaint  filed in the Circuit  Court of the
Eighteenth  Judicial  District  of the State of  Florida on  January  23,  1997,
alleging breach of contract and alleged  damages in the amount of  approximately
$4,323,000,  plus  interest,  costs and  attorney's  fees.  The Company filed an
answer to the complaint  denying the  allegations  therein and a counterclaim on
March 10, 1997. The counterclaim  alleges breach of contract,  common law fraud,
conversion and unjust  enrichment.  The Company  further  asserts damages in the
amount of  approximately  $463,000,  plus interest,  costs and attorney's  fees.
Management  believes that the  allegations in the complaint are without merit. A
motion for summary judgement was denied in February 1999.

                                       7
<PAGE>

The Company has been recently served with six class action  complaints on behalf
of all purchasers of the Company's common stock and warrants between September 9
and 14, 1999.  The complaints  allege that the Company and certain  officers and
directors of the Company  violated the federal  securities  laws by, among other
things,  the  issuance  of a press  release on  September  9, 1999.  The Company
expects  that a lead  plaintiff  will assert a  consolidated  complaint  and the
Company will then promptly  respond to the consolidated  complaint.  The Company
believes these complaints have no merit and will vigorously contest them.

From  time to  time,  the  Company  is  party  to what it  believes  is  routine
litigation and proceedings that may be considered as part of the ordinary course
of its  business.  Except for the  proceedings  noted above,  the Company is not
aware of any  current or pending  litigation  or  proceedings  that would have a
material effect on the Company's results of operations or financial condition.

                                       8
<PAGE>

ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF  OPERATION

RESULTS OF OPERATIONS - NINE MONTHS ENDED SEPTEMBER 30, 1999 COMPARED TO NINE
MONTHS ENDED SEPTEMBER 1998

Net sales for the nine month period  ended  September  30, 1999 were  $1,307,669
while sales for the nine months ended  September 30, 1998 were $1,155,864 (a 13%
increase).  Overall sales  increases  were the result of consistent  orders from
existing  customers and new customer  business from Harris Corp. for its NMT-450
Multicarrier  products and other customers,  partially offset by decreased sales
to the South Korean customers. Due to specifications upgrade, the company had to
redesign  products  to the  South  Korean  customers,  which  in turn  increased
material  costs and overhead  during 1999.  During the third quarter of 1999 the
Company was also in a period of transition to complete  product  development for
Harris  Corp.,  which,  when  coupled with the decrease in orders from the South
Korean  customers,  caused sales to decrease.  Considerable  materials and labor
were invested to prepare for fourth  quarter  shipment  requirements  for Harris
Corp. and Amplidyne's other wireless local loop amplifier customers.

Gross profit  (loss) for the nine months ended  September  30, 1999  amounted to
($731),  compared to $204,185 (17.7% of sales) for the corresponding nine months
of 1998. This decrease in gross margin is principally  attributable to the above
mentioned  comments,  which  resulted in fixed  overhead costs being spread over
lower units of production during the third quarter of 1999, which eliminated the
previous  year-to-date  gross  profit.  The  year-to-date  gross profit had been
approximately 10%, which was less than 1998 due to the specification upgrades on
the South Korean orders. The lower third quarter 1999 production was also caused
by the  shutdown  necessitated  by the  move to our new  facility.  The  company
reduced  some  overhead  expenses  by moving to a more  compact  facility  while
nurturing offshore production,  the impact of which the Company hopes to realize
during the fourth quarter of 1999.

Selling,  general and administrative  expenses were $993,521 (76.0% of sales) in
the first nine months of 1999,  compared  to  $758,657  (65.6% of sales) for the
first nine months of 1998.  Expenses were higher in 1999 due to increased  costs
related to a  non-recurring  severance  payment,  bad debt  expenses,  increased
office expense and increased legal fees.

Research,  engineering,  and development costs remained relatively unchanged for
the nine months ended September 30, 1999 compared with the corresponding  period
of 1998.  This  trend  was  achieved  due to the  utilization  of  existing  R&D
knowledge and experience to the development of new products.

Interest  income was lower for the first  nine  months of 1999  compared  to the
corresponding  period of 1998.  The decrease is due to lower  amounts of cash in
the Company's money market account.

Other income  represents the  forgiveness of deferred  compensation  in 1998 and
accrued consulting fees in 1999.

As a result of the foregoing, the Company incurred net losses of ($1,342,148) or
(.24) per share for the nine months  ended  September  30, 1999  compared to net
losses of ($701,692) or (.16) per share for the same period in 1998.

                                       9
<PAGE>

LIQUIDITY AND CAPITAL RESOURCES

At September 30, 1999,  the Company had cash and cash  equivalents of $1,288,427
principally due to the injection of private  placement funds and the exercise of
warrants in the first nine months of 1999.  The Company has  continued  to issue
its common stock in lieu of cash  payments  for  compensation,  commissions  and
consulting fees where possible,  resulting in decreases in the December 31, 1998
balances  in  accrued  expenses  and  deferred  compensation.  The  Company  has
increased its inventory in response to the Harris Corp. order,  expected to ship
in the Fourth Quarter of 1999.

The Company  entered into a five year lease for its 13,000  square foot facility
in July 1999, with a monthly rent of $5,937 plus real estate taxes.  The Company
is planning to install an  auto-insertion  machine in the fourth quarter of 1999
to add production efficiency.

The Company believes that the net proceeds of the Company's  private  placements
and  operations  will meet its  working  capital  obligations  and fund  further
development  of its  business  for  the  next  twelve  months.  There  can be no
assurance  that any  additional  financing  will be  available to the Company on
acceptable terms, or at all.

YEAR 2000

Many existing  computer  systems,  including  certain of the Company's  internal
systems,  use only the last two digits to identify years in the date field. As a
result, these computer systems do not properly recognize a year that begins with
"20" instead of the familiar "19", or may not function properly with years later
than 1999. If not  corrected,  many computer  applications  could fail or create
erroneous  results.  This is  generally  referred to as the "Year 2000" or "Y2K"
issue.  Computer  systems that are able to deal  correctly with dates after 1999
are referred to as "Year 2000 compliant."

The Company has 37 employees of which 28 are involved in  production  processes.
The Company's  internal  computer  systems  consist of  individualized  PCs. The
Company  intends to replace  all of these PCs with the  latest  hardware,  at an
estimated  cost of about  $20,000.  The  Company's  technical  software has been
upgraded  for the Y2K  compliance.  Presently,  the  Company  is  exploring  the
purchase of a new MRP system, which will be Y2K compliant, and will be installed
by the first half of 2000.  All other software for day to day office work is Y2K
compliant.  The Company's  accounting  software will also be upgraded as part of
the MRP system.  Estimated cost is about $25,000.  The Company believes that the
existing  accounting  software is Y2K  compliant.  Other than as set forth,  the
Company has no other contingency plan for Y2K non-compliance.

The Company is in the process of contacting  all its major vendors and suppliers
to ensure  hat they are Y2K  compliant.  Overall  the  Company  does not see any
material effect upon its business and operations due to the Y2K problem.

                                       10

<PAGE>

                           PART II - OTHER INFORMATION

ITEM 2.    CHANGE IN SECURITIES

In August 1999,  the Company issued 370,370 shares of Common Stock in connection
with the  conversion  of all of the  Company's  Series A  Preferred  Stock.  The
Company  issued  such  shares  in  reliance  of  Section  4(2)  of the  Act.  No
underwriting discounts or commissions were paid.

In  September  1999,  the  Company  issued  497,500  shares of  Common  Stock in
connection with the exercise of outstanding warrants,  generating gross proceeds
of $903,750.  The Company  issued such shares in reliance on Section 4(2) of the
Act. No underwriting discounts or commissions were paid.

On  September  30,  1999,  the Company  issued  6,202  shares of Common Stock to
Devendar S. Bains (3,358),  Tarlochan Bains (2,088) and Nirmal Bains (756).  The
shares were issued in exchange of accrued  salaries and commissions owed to such
persons at September 30, 1999, ($20,885,  $12,986 and $4,700,  respectively) and
were  converted at a price of $6.22,  the market  price at such date.  The sales
were made in reliance of Section 4(2) of the Act. No  underwriting  discounts or
commissions were paid.

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

         (b) Reports on Form 8-K. The Registrant  filed a Current Report on Form
8-K on August 3, 1999,  disclosing  the  issuance of the  Registrant's  Series A
Preferred  Stock  (See  Part  I-Note  C) and  the  relocation  of its  principal
executive offices.

                                       11

<PAGE>

                                   SIGNATURES


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


                                              AMPLIDYNE, INC.


Dated:  November 19, 1999                     By: /s/ DEVENDAR S. BAINS
                                                  ------------------------------
                                              Name:   Devendar S. Bains
                                              Title:  Chief Executive Officer,
                                                      President, Treasurer,
                                                      Principal Accounting
                                                      Officer and Director

                                       12