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

                                    FORM 10-Q

|X|     QUARTERLY  REPORT  PURSUANT  TO  SECTION  13  OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 1997

|_|     TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR 15(d) OF THE SECURITIES
        EXCHANGE  ACT  OF  1934  FOR  THE TRANSITION PERIOD FROM _______________
        TO _______________


                            ALTAIR INTERNATIONAL INC.
        -----------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

     Province of
      Ontario,
       Canada                          1-12497                     None
----------------------------    -----------------------    ---------------------
(State or other jurisdiction     (Commission File No.)         (IRS Employer
  of incorporation)                                         Identification No.)

                         1725 Sheridan Avenue, Suite 140
                               Cody, Wyoming 82414
        -----------------------------------------------------------------
          (Address of principal executive offices, including zip code)


       Registrant's telephone number, including area code: (307) 587-8245











        Indicate by check mark whether the  registrant (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 |_|



        As of September 30, 1997, the registrant had 15,233,245 shares of Common
Stock outstanding.




--------------------------------------------------------------------------------
--------------------------------------------------------------------------------


                                        i

<PAGE>



                                PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.
<TABLE>

                                   ALTAIR INTERNATIONAL INC.
                                  CONSOLIDATED BALANCE SHEETS
                             (Expressed in United States Dollars)
<CAPTION>



                                                                         September 30,    December 31,
                                                                             1997             1996
                                                                          (unaudited)      (audited)
                                                                        ---------------   ------------

                                                       ASSETS

Current
<S>                                                                          <C>            <C>       
  Cash and term deposits                                                     $2,953,241     $3,270,161
  Advances and accounts receivable                                               60,024         13,556
                                                                        ---------------   ------------

                                                                              3,013,265      3,283,717

Capital
  Office equipment, vehicles, testing and mining
   equipment.  (Cost, net of amortization)                                      455,744        257,018

Centrifugal jig patents and related expenditures
  (Cost, net of amortization)                                                 3,967,856      4,365,064

Mineral properties and related deferred
  exploration expenditures                                                      456,204        126,302

Goodwill, net                                                                    10,789         10,789
                                                                        ---------------   ------------

                                                                             $7,903,858     $8,042,890
                                                                        ===============   ============

                                                    LIABILITIES

Current
  Accounts payable and accrued liabilities                                   $  162,773     $  155,729
  Current portion of notes payable                                                             153,036
                                                                        ---------------   ------------

                                                                                162,773        308,765

Notes payable                                                                   257,543        269,685
                                                                        ---------------   ------------

                                                                                420,316        578,450
                                                                        ---------------   ------------

                                                SHAREHOLDERS' EQUITY

Capital stock issued
  15,233,245 common shares at September 30,                                  12,779,254     11,421,004
  1997; 14,686,296 shares at December 31, 1996
                                                                        ---------------   ------------

Deficit
  Balance, beginning of period                                                3,956,564      3,347,808
  Net loss for period                                                         1,339,148        608,756
                                                                        ---------------   ------------

  Balance, end of period                                                      5,295,712      3,956,564
                                                                        ---------------   ------------

Total Shareholders' Equity                                                    7,483,542      7,464,440
                                                                        ---------------   ------------

                                                                            $ 7,903,858    $ 8,042,890
                                                                        ===============   ============
</TABLE>



                                              ii

<PAGE>


<TABLE>

                                   ALTAIR INTERNATIONAL INC.
                   CONSOLIDATED STATEMENT OF CHANGES IN FINANCIAL CONDITION
                             (Expressed in United States Dollars)
<CAPTION>




                                                                          Nine Months Ended
                                                                            September 30
                                                             -------------------------------------------

                                                                    1997                     1996
                                                                 (unaudited)             (unaudited)

                                                             -------------------      ------------------

Cash provided by (used in)

  Operating activities
<S>                                                                <C>                      <C>          
    Net (loss) income for period                                   $  (1,339,148)           $   (159,475)
    Item not requiring an outlay of cash:
      Amortization                                                       466,940                 249,094
                                                             -------------------      ------------------

                                                                        (872,208)                 89,619

    Changes in non-cash working capital balances:
      Decrease (increase) in advances and accounts receivable            (46,468)                 56,529
      Increase (decrease) in accounts payable and accrued               (145,992)                437,678
           liabilities
                                                             -------------------      ------------------

                                                                      (1,064,688)                583,826
                                                             -------------------      ------------------

  Investing activities
    Mineral properties and deferred exploration expenditures            (329,902)                (15,253)
    Purchase of capital assets                                          (223,530)                (29,583)
    Centrifugal jig patents and related expenditures                     (44,928)             (4,392,290)
                                                             -------------------      ------------------

                                                                        (598,360)             (4,437,126)
                                                             -------------------      ------------------

  Financing activities
    Issuance of common shares for shares of subsidiary                        --               2,522,571
    Issuance of common shares for cash (net of subscriptions
      receivable of $153,385 in 1996)                                  1,358,249               2,569,440
    Increase (decrease) in notes payable                                 (12,141)                115,000
                                                             -------------------      ------------------

                                                                       1,346,108               5,207,011
                                                             -------------------      ------------------

Increase (decrease) in cash                                             (316,920)              1,353,711

Cash and short term investments, beginning of period                   3,270,161                 310,146
                                                             -------------------      ------------------

Cash and short term investments, end of period                       $ 2,953,241           $   1,663,857
                                                             ===================      ==================

</TABLE>


                                             iii

<PAGE>


<TABLE>

                                   ALTAIR INTERNATIONAL INC.
                       CONSOLIDATED STATEMENT OF OPERATIONS AND DEFICIT
                             (Expressed in United States Dollars)
                                          (Unaudited)
<CAPTION>



                                                          Three Months Ended                        Nine Months Ended
                                                             September 30,                             September 30,
                                             ------------------------------------------------------------------------------------

                                                   1997                  1996                   1997                  1996
                                             ----------------      -----------------      ----------------      -----------------

Expenses:
<S>                                             <C>                     <C>                    <C>                 <C>        
  Professional fees                             $   66,022              $  63,898              $239,917            $   138,338
  Wages and administration                          41,562                 75,783               149,589                272,701
  Development and testing                           54,197                     --               116,331                     --
  General and office                                20,778                 14,760                62,573                 37,122
  Shareholders' meetings and reports                 7,098                  2,214                88,983                 33,168
  Public relations                                  27,427                  9,276                82,453                 21,720
  Occupancy costs                                    9,743                  7,492                30,186                 19,076
  Travel                                             4,788                  5,269                46,340                  9,057
  Transfer agent's fees                              2,526                  2.032                11,696                  9,420
  Insurance                                         26,015                  6.152                32,371                 10,161
  Accounting and corporate services                  2,233                 (3,454)                5,906                  4,936
  Government fees and taxes                          8,157                     12                11,249                  3,809
  Stock exchange fees                                5,700                    510                 7,339                  3,290
  Bank charges                                         558                    144                 1,146                    437
  Loss (gain) on foreign exchange                   20,323                 (3,994)               39,687                 13,010
  Amortization                                     152,441                121,057               466,940                249,094
                                          ----------------      -----------------      ----------------      -----------------

                                                   449,588                301,151             1,392,706                825,339

  Interest on notes payable                          4,330                    459                12,990                  3,216
  Interest and miscellaneous income                (17,994)               (11,854)              (66,548)               (16,617)
                                          ----------------      -----------------      ----------------      -----------------

Loss from Operations                           $   435,924              $ 289,756            $1,339,148            $   811,938


Forgiveness of Debt                                     --                     --                    --               (652,463)
                                          ----------------      -----------------      ----------------      -----------------

Net (income) loss for period                   $   435,924            $   289,756            $1,339,148             $  159,475
                                          ================      =================      ================      =================

Net (income) loss per share                    $      0.03              $    0.02             $    0.09             $     0.01
                                          ================      =================      ================      =================
</TABLE>


                                             iv

<PAGE>



                           ALTAIR INTERNATIONAL, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)


Note 1.  Basis of Preparation of Financial Statements

        These unaudited  interim financial  statements of Altair  International,
Inc. and its  subsidiaries  (collectively,  the "Company") have been prepared in
accordance  with the rules and  regulations of the United States  Securities and
Exchange  Commission (the  "Commission").  Such rules and regulations  allow the
omission of certain  information and footnote  disclosures  normally included in
financial  statements prepared in accordance with generally accepted principles,
so  long as the  statements  are  not  misleading.  In the  opinion  of  Company
management,  these  financial  statements  and  accompanying  notes  contain all
adjustments  (consisting  of only normal  recurring  adjustments)  necessary  to
present fairly the financial  position and results of operations for the periods
shown. These interim financial statements should be read in conjunction with the
audited financial statements and notes thereto contained in the Company's Annual
Report filed on Form 10-K for the year ended  December  31, 1996,  as amended by
Amendment  No. 1 to the  Company's  Annual  Report on Form 10-K/A filed with the
Commission on June 9, 1997.

        The  Compan   is  a  Canadian  corporation  and  prepares  its financial
statements in accordance with generally accepted accounting principles in Canada
("Canadian GAAP"). The Company's  financial  statements for the 1996 fiscal year
were denominated in Canadian currency. The Company's operations are now centered
in the United States, and the Company determined  effective January 1, 1997 that
its functional  currency is the U.S. Dollar.  Accordingly,  although the Company
continues to follow Canadian GAAP, the foregoing unaudited financial  statements
are, and the Company's  subsequent  financial statements will be, denominated in
U.S. Dollars.  Audited information  presented in balance sheet has been restated
in U. S. Dollars.

        Certain  prior year amounts have been  reclassified  to conform with the
current year presentation,  but these reclassifications do not affect previously
reported net income or retained earnings.

        The results of operations for the  three-month  and  nine-month  periods
ended  September  30, 1997 are not  necessarily  indicative of the results to be
expected for the full year.

Note 2.  Differences  between  Canadian  and  United  States  Generally Accepted
         Accounting Principles

        Canadian  GAAP  conforms,  in all  material  respects,  with  accounting
principles  generally  accepted in the United  States ("U.S.  GAAP"),  except as
described below.

Statement of Changes in Financial Position

        The  U.S.  Financial   Accounting  Standards  Board  (FASB)  issued  its
Statement of Financial  Accounting  Standards No. 95 (SFAS No. 95) effective for
years ending after July 15, 1988.  SFAS No. 95, which is entitled  "Statement of
Cash Flows",  established  standards  for cash flow  reporting  with its primary
purpose being to provide  information  about the cash receipts and cash payments
of an entity  during the period.  Canadian  GAAP dealing  with the  statement of
changes in financial position is based on a broad concept, embracing all changes
in financial position. The following are the Statements of Cash Flow prepared in
accordance with U.S. GAAP for each of the nine-month periods ended September 30,
1996 and September 30, 1997:



                                        v

<PAGE>


<TABLE>


                                   ALTAIR INTERNATIONAL INC.
                             CONSOLIDATED STATEMENT OF CASH FLOWS
                             (Expressed in United States Dollars)

<CAPTION>



                                                                         Nine Months Ended
                                                                           September 30,
                                                          -----------------------------------------------

                                                                   1997                      1996
                                                               (unaudited)               (unaudited)
                                                          ----------------------     --------------------

Cash flows from operating activities
<S>                                                          <C>                        <C>           
  Net (loss) income for period                               $   (1,339,148)            $    (159,475)
  Adjustment to reconcile net loss for period to net
   cash (used):                                                                                 249,094
    Amortization                                                    466,940
                                                          ----------------------     --------------------

                                                                   (872,208)                   89,619

  Changes in assets and liabilities:
    Advances and accounts receivable                                (46,468)                   56,529
    Accounts payable and accrued liabilities                       (145,992)                  437,678
                                                          ----------------------     --------------------

Net cash provided by (used in) operating                         (1,064,668)                  583,826
activities
                                                          ----------------------     --------------------

Cash flows from investing activities
  Purchase of mineral properties and related
    deferred exploration expenditures                              (329,902)                  (15,253)
  Purchase of capital assets                                       (223,530)                  (29,583)
  Purchase of Centrifugal jig patents and related
    expenditures                                                    (44,928)               (4,392,290)
                                                          ----------------------     --------------------

Net cash (used in) investing activities                            (598,360)               (4,437,126)
                                                          ----------------------     --------------------

Cash flows from financing activities
  Issuance of common shares for shares of                                --                 2,522,571
  subsidiary
  Issuance of common shares for cash                              1,358,249                 2,569,440
  Notes payable                                                     (12,141)                  115,000
                                                          ----------------------     --------------------

Net cash provided by financing activities                         1,346,108                 5,207,011
                                                          ----------------------     --------------------

Net increase in cash                                               (316,920)                1,353,711

Cash, beginning of period                                         3,270,161                   310,146
                                                          ----------------------     --------------------

Cash, end of period                                            $  2,953,241              $  1,663,857

                                                          ======================     ====================
</TABLE>



        Under Canadian  GAAP,  there is no requirement to disclose the Company's
policy for determining which items are treated as cash  equivalents.  Under U.S.
GAAP cash equivalents are short-term, highly-liquid investments that are readily
converted to known  amounts of cash and are so near their  maturities  that they
present an insignificant  risk of change in value because of changes in interest
rates.

        The cash and term  deposits on hand as of September  30, 1997  represent
cash and term  deposits  with  maturity  dates of less  than 30 days  which  are
considered cash equivalents under U.S. GAAP.


                                              vi

<PAGE>




Development Stage Company

        As of  September  30,  1997,  the Company  would be  characterized  as a
"development  stage  enterprise"  under U.S.  GAAP due to Statement of Financial
Accounting  Standards  No.  7  (SFAS  7).  Under  Canadian  GAAP,  there  are no
requirements for the indication or reporting of development stage entities.

Income Taxes

        Under Canadian  GAAP,  income taxes are accounted for under the deferral
method.  Under U.S. GAAP, companies must follow the requirements of Statement of
Financial  Accounting Standards No. 109 (SFAS 109) which requires the use of the
asset/liability method for measurement of tax liabilities,  wherein deferred tax
assets are recognized as well as deferred tax liabilities.

        The Company has significant  non-capital  loss  carryforwards.  SFAS 109
would require the  recognition  of a long-term tax asset for the future  benefit
expected from the application of these carryforwards to future profitable years.
If it is expected that the entire amount of non-capital loss  carryforwards will
not be  utilized,  then a  valuation  allowance  is  applied  to  the  asset  to
reasonably state the asset at its expected value. Under SFAS 109,  disclosure of
the amount of  valuation  allowance is  required.  As of December 31, 1996,  the
valuation  allowance is equal to 100% of the deferred tax asset.  Changes in the
value of the deferred asset are recognized each year as income tax expense.

Stock Options

        Of the Common Share stock  options  outstanding  at September  30, 1997,
1,142,000 (1996 year end - 415,000) are currently  exercisable.  As of September
30, 1997,  553,000  (1996 year end - 723,630)  Common  Shares are  available for
granting of options.  The  following  summary sets out the activity in the stock
options.
<TABLE>
<CAPTION>

                                                                      First Nine       Third
                                                      Fiscal Year       Months         Quarter
                                                         1996            1997           1997
                                                         ----            ----           ----
                                                          $               $              $
<S>                                                     <C>             <C>           <C>      
               Outstanding at beginning of period       677,000         745,000       1,007,000
               Granted during the period                770,000         500,000         150,006
               Exercised at an average price of
                 $1.03 (1st Nine Months 1997 - $5.40;
                 3rd Quarter 1997 - $.60)              (702,000)       (103,000)        (15,000)
                                                       ---------     -----------     -----------
               Outstanding at end of period             745,000       1,142,000       1,142,000
                                                       ---------     -----------     -----------
</TABLE>

        Under Canadian GAAP,  there is no requirement to record  compensation on
the  issue  of stock  options  to  employees  or  directors.  Under  U.S.  GAAP,
compensation  would be accrued at the date of granting of the options calculated
as the  difference  between the market price and  exercise  price at the date of
grant.  For the fiscal year ended December 31, 1996 and the first nine months of
1997,  the  exercise  price of all stock  options  granted  has been equal to or
greater  than the  market  price  on the date of the  grant  and  therefore  the
compensation cost under U.S. GAAP would be $Nil.


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

        The  following  discussion  summarizes  the results of operations of the
Company and changes in its  financial  condition  for the three- and  nine-month
periods ended September 30, 1997 and 1996, respectively.  This discussion should
be read in conjunction  with  Management's  Discussion and Analysis of Financial
Condition  and Result of Operations  included in the Company's  Annual Report on
Form 10-K for the year ending  December 31, 1996,  as amended by Amendment No. 1
to the Company's  Annual Report on Form 10-K/A filed with the Commission on June
9, 1997. Unless otherwise specified,  all amounts set in this Part I, Item 2 are
in U.S. Dollars.


                                       vii

<PAGE>



Overview

        From inception through the end of 1993, the Company's business consisted
principally of acquisition and development of mineral  properties.  During 1994,
the Company's  focus changed,  and the Company became  primarily  engaged in the
acquisition,  development and testing of mineral processing equipment for use in
the recovery of fine, heavy mineral particles,  including gold and environmental
contaminates.

        During  November  1994,  the  Company  executed an option  agreement  to
acquire Trans Mar, Inc.  ("Trans Mar"),  a development  stage  enterprise  which
owned all patent  rights to the  Centrifugal  Jig ("CJ"),  an apparatus  for the
separation  and recovery of fine heavy  mineral  particles.  The Company  funded
$373,955 of  option-related  costs  during 1994 and 1995.  Subsequently,  during
early 1996,  the Company  renegotiated  the option  agreement and entered into a
merger  agreement  pursuant to which the Company acquired all of the outstanding
common  stock of  Trans  Mar (the  "Trans  Mar  Merger").  The  acquisition  was
accounted for as a purchase by the Company, which agreed to issue to Trans Mar's
shareholders  1,920,000 shares of the Company's  common stock ("Common  Shares")
over a 5 year period and 580,000  warrants  entitling the holder to purchase one
Common Share for $2.00 until March 1, 1997.

        The  effective  purchase  price paid by the Company to acquire Trans Mar
was  $5,115,693.  This  consisted of $3,455,923 of Common Shares issued to Trans
Mar  shareholders  (1,919,557  Common  Shares  with a deemed  value of $1.80 per
share)  and  the  absorption  of  Trans  Mar's  assets  and  liabilities,   with
liabilities  exceeding  assets by $1,659,770 on February 29, 1996.  The purchase
price was allocated to CJ patents and development costs.

        Prior  to  1994,  the  Company  operated  its  minerals  business  as an
exploration  stage company,  in that it intended to receive income from property
sales,  joint ventures,  or other business  arrangements  with larger companies,
rather than developing and placing its properties into production on its own. At
present, there are no business arrangements or joint venture prospects involving
the  Company's  properties  or potential  property  sales from which the Company
expects to receive  income.  No royalty  income has been received in the past by
the Company.

        There can be no  assurance  that the  development  and  testing  program
undertaken by the Company will demonstrate the CJ to be economically  attractive
to end users. Accordingly, there is no assurance of successful operations.

Results of Operations

        The Company has earned no operating  revenues to date.  Operating losses
before extraordinary items totaled $1,339,148 ($0.09 per share) during the first
nine months of 1997 and $811,938 ($0.05 per share) during the comparable  period
of 1996.  Operating  losses for the three months  ending  September 30, 1997 and
1996  were  $435,924   ($0.03  per  share)  and  $289,756   ($0.02  per  share),
respectively.  Principal factors contributing to the losses during these periods
were the absence of revenue, coupled with the incurrence of operating expenses.

        Operating  expenses increased from $825,339 during the first nine months
of 1996 to $1,392,706  during the same period of 1997. Of the  $1,392,706  total
operating  expenses  incurred  during the first nine  months of 1997,  $466,940,
representing  34% of total  operating  expenses,  related to amortization of the
Company's  assets,  as compared to $249,094  (30% of total  operating  expenses)
during  the  comparable  period  in 1996.  Increases  in  amortization  were due
primarily to amortization of CJ patent and development  costs resulting from the
acquisition  of the CJ through  the Trans Mar Merger in March,  1996.  Operating
expenses,  exclusive of  amortization,  increased from $576,245 during the first
nine  months of 1996 to  $925,766  during  the first  nine  months of 1997,  due
primarily  to  increased  activity  in  testing  and  developing  the CJ and its
potential applications. In this regard, subsequent to the first quarter of 1996,
the Company  expanded  into new leased space in Reno,  Nevada and  increased the
level of staffing in Reno from one to four  employees.  In  addition,  increased
expenditures for professional  fees, largely legal costs, have been required due
to new requirements associated with NASDAQ trading, filings with the Commission,
and  enforcement  of the  Company's  licenses  and  patent  rights.  Changes  in
operating  expenses  between the third  quarter of 1996 and the third quarter of
1997 did not  differ  materially  from  changes  in the  year to date  operating
expenses outlined in the preceding discussion.

        As a result  of the  Company's  acquisition  of  Trans  Mar,  Fine  Gold
Recovery  Systems,  Inc., a wholly-owned  subsidiary of the Company,  into which
Trans Mar was merged in the Trans Mar Merger  ("Fine  Gold")  assumed all of the
Trans Mar  liabilities  on the date of the Trans Mar  Merger.  During the second
quarter of 1996, Fine Gold entered into agreements  extinguishing certain of the


                                      viii

<PAGE>



Trans Mar accounts  payable at less than the book amounts of such debts. The net
of such forgiveness of debt was $652,463 and resulted in an  extraordinary  gain
of $0.04 per share  during the six months  ended  June 30,  1996.  There were no
extraordinary items during the first nine months of 1997.

Liquidity and Capital Resources

        The Company has financed its operations since inception primarily by the
issuance of equity  securities  (Common  Shares and warrants to purchase  Common
Shares) with  aggregate net proceeds  $12,779,254  as of September 30, 1997. The
Company received cash proceeds totaling  $1,358,250 from the exercise of options
and warrants to acquire Common Shares during the first nine months of 1997.

        The Company has earned no revenues and has incurred  recurring losses in
operations.   On  December  31,  1996  the  Company's  accumulated  deficit  was
$3,956,564.  The deficit  increased by $1,339,148 to $5,295,712 during the first
nine months of 1997 due to operating losses during that period.

        The  Company  currently   maintains  working  capital  which  management
believes will be sufficient for the Company's  needs through the end of the 1998
fiscal year; however, there can be no assurance that the Company will be able to
continue to raise capital to fund the Company's long-term capital  requirements.
The Company  received  $1,358,250  in proceeds  from the exercise of options and
warrants to purchase  Common Shares  during the first nine months of 1997.  This
increased the amount of cash and short-term investments held by the Company from
$3,270,161 as of December 31, 1996 to  $3,577,514 as of June 30, 1997;  however,
due to a decrease  in the number of  warrants  or options  exercised  during the
third quarter of 1997,  accompanied by continued  spending on items described in
the following paragraph, the amount of cash and short-term investments decreased
to  2,953,241  as  of  September  30,  1997.  Correspondingly,  working  capital
increased  from  $2,974,952 as of December 31, 1996 to $3,427,859 as of June 30,
1997, but then decreased to $2,850,492 as of September 30, 1997.


        The  Company  continues  to use its  working  capital  to  invest in the
testing and  development of its primary asset,  the CJ, and to invest in mineral
properties suitable for development and processing with the CJ. During the first
nine months of 1997,  the Company  invested  $329,902 in the  Company's  Camden,
Tennessee mineral property and made additional capital investments to build a CJ
test  facility  in  Reno,  Nevada,  file  patent  applications,   and  construct
additional CJ's, including a scaled-up 30 inch diameter model.

Forward-Looking Statements

        This Quarterly Report on Form 10-Q contains  forward-looking  statements
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.  Statements in
this report  regarding the expansion of the Company's  operations and any future
acquisition activities are forward-looking statements.  Words such as "expects",
"intends", "believes", "anticipates", and "likely" also identify forward-looking
statements.  Actual results could differ materially from those anticipated for a
number of  reasons,  including,  among  others,  the  failure of the CJ to prove
economically attractive to end users, the development of a substitute for the CJ
by a competitor, the need for an unforseen amount of capital to complete testing
and  development  of the CJ,  and other  unanticipated  factors.  Risk  factors,
cautionary  statements,  and other conditions that could cause actual results to
differ are contained in the Company's  filings with the  Securities and Exchange
Commission,  including  the  Company's  Annual  Report on Form 10-K for the year
ended December 31, 1996, as amended.

                           PART II - OTHER INFORMATION


Item 6.  Exhibits and Reports on Form 8-K

        (a) See Exhibit Index attached hereto.

        (b) No reports on Form 8-K have been filed  during the third  quarter of
            1997.


                                       ix

<PAGE>




                                   SIGNATURES

        Pursuant to the requirements 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.


                                        Altair International Inc.


      November 14, 1997                 By:       /s/ William Long
     -------------------                    ------------------------------------
           Date                                 William Long, President


      November 14, 1997                 By:       /s/ Patrick Costin
     -------------------                    ------------------------------------
           Date                                 Patrick Costin, Vice-President
                                                and Principal Financial Officer

















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<PAGE>


                            ALTAIR INTERNATIONAL INC.

                                  EXHIBIT INDEX

 Regulation S-K
   Exhibit No.             Description
------------------      --------------------------------------------------------

      3(i)                Articles of Incorporation, as amended (incorporated by
                          reference to the Company's  Registration  Statement on
                          Form 10-SB filed with the  Commission  on November 25,
                          1996).

      3(ii)               Bylaws  (incorporated  by reference  to the  Company's
                          Registration  Statement  on Form 10-SB  filed with the
                          Commission on November 25, 1996).

       27                 Financial Data Schedule
























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