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 June 30, 1999

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

For the transition period from ______________to_______________

Commission file number     0-21489

                      International Dispensing Corporation
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


             Delaware                                            13-3856324
 -------------------------------                            -------------------
 (State of other jurisdiction of                               (IRS Employer
 incorporation or organization)                             Identification No.)

          2500 Westchester Avenue, Suite 304, Purchase, New York 10577
          ------------------------------------------------------------
                    (Address of principal executive offices)

                                 (914) 251-0336
                           ---------------------------
                           (Issuer's telephone number)

                                 Not applicable
              ----------------------------------------------------
              (Former name, former address and former fiscal year,
                         if changed since last report)

Check  whether  the  issuer  (1) filed all  reports to be filed by Section 13 or
15(d) of the Exchange Act during the past 12 months (or for such shorter  period
that the  registrant was required to file such reports) and (2) has been subject
to such filing requirements for the past 90 days.
Yes [X]    No  [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes or common
equity, as of the latest  practicable date:  9,566,668 shares of Common Stock as
of July 28, 1999

Transitional Small Business Disclosure Format (Check One): Yes [ ]    No [X]


<PAGE>


                      International Dispensing Corporation
                          (A Development Stage Company)


                                Table of Contents



Part I -  FINANCIAL INFORMATION

Item 1.   Financial Statements                                       Page Number

          Balance Sheets at June 30, 1999 (unaudited)                     3
          and December 31, 1998

          Statements of Operations for the Six and Three Months           4
          Ended June 30, 1999 and 1998 and for the Period from
          Inception (October 10, 1995) through June 30, 1999

          Statements of Cash Flows for the Six Months Ended               5
          June 30, 1999 and 1998 and for the Period from Inception
          (October 10, 1995) through June 30, 1999

          Notes to Financial Statements                                   6

Item 2.   Management's Discussion and Analysis of Financial               7
          Condition and Results of Operations

Part II - OTHER INFORMATION                                              10

                                       2

<PAGE>
                      INTERNATIONAL DISPENSING CORPORATION
                         (A Development Stage Company)

                                 BALANCE SHEET

                                                   June 30, 1999    December 31,
                                                    (unaudited)        1998
                                                    -----------     -----------
Assets
Current Assets:
  Cash and cash equivalents ....................    $   544,975     $ 1,270,527
  Accounts receivable ..........................          5,675
  Loans receivable .............................         31,000
  Prepaid expenses .............................         46,109          43,545
                                                    -----------     -----------
                            Total current assets        627,759       1,314,072
Fixed Assets:
  Office equipment .............................         30,882           3,480
  Automobile ...................................         21,919          21,919
  Accumulated Depreciation and Amortization ....        (11,914)         (8,314)
                                                    -----------     -----------
                                Net fixed assets         40,887          17,085
Other Assets ...................................         23,035          30,033
                                                    -----------     -----------
                                    Total Assets    $   691,681     $ 1,361,190
                                                    ===========     ===========

Liabilities and Stockholders' Equity
Current Liabilities:
  Accounts payable .............................         39,013          19,791
  Accrued expenses .............................          6,001          72,506
                                                    -----------     -----------
  Total current liabilities ....................         45,014          92,297
                                                    -----------     -----------
                               Total liabilities         45,014          92,297
Commitments & contingencies
Stockholders' Equity:
  Preferred stock, $.001 par value; ............           --              --
  2,000,000 shares authorized, no
  shares issued or outstanding
  Common stock, $.001 par value; ...............          9,567           9,567
  40,000,000 shares authorized;
  9,566,668 issued and outstanding
  as of December 31, 1998 and June 30,
  1999 respectively
  Additional paid-in capital ...................      9,895,286       9,895,286
  Deficit accumulated during ...................     (9,258,186)     (8,635,960)
  development stage
                                                    -----------     -----------
                      Total stockholders' equity        646,667       1,268,893
                                                    -----------     -----------
      Total liabilities and stockholders' equity    $   691,681     $ 1,361,190
                                                    ===========     ===========



The accompanying notes are an integral part of these financial statements

                                       3

<PAGE>


<TABLE>
<CAPTION>
                                                INTERNATIONAL DISPENSING CORPORATION
                                                    (A Development Stage Company)

                                                       STATEMENT OF OPERATIONS

                                                                                                                        Cumulative
                                                                 Six Months                     Three Months         from Inception
                                                                   ended                           ended            October 10, 1995
                                                       -----------------------------   -----------------------------     through
                                                       June 30, 1999   June 30, 1998   June 30, 1999   June 30, 1998   June 30, 1999
                                                        (unaudited)     (unaudited)     (unaudited)     (unaudited)     (unaudited)
                                                        -----------     -----------     -----------     -----------     -----------
<S>                                                         <C>             <C>             <C>             <C>           <C>
Operating Expenses
  General and Adminstrative ........................    $   691,842     $   646,964     $   415,871     $   345,368     $ 4,521,081
  Depreciation and Amortization ....................          3,600           3,000           1,800           1,500          20,056
                                                        -----------     -----------     -----------     -----------     -----------
                            Total operating expenses        695,442         649,964         417,671         346,868       4,541,137
                                                        -----------     -----------     -----------     -----------     -----------
                                Loss from operations       (695,442)       (649,964)       (417,671)       (346,868)     (4,541,137)

Other income (expense)
  Interest Expense .................................           --              --              --              --           (66,665)
  Interest Income ..................................         22,391          61,759           8,520          26,975         392,718
  Miscellaneous income .............................         50,825            --              --              --            50,825
                                                        -----------     -----------     -----------     -----------     -----------
                 Net loss before extraordinary loss
                        and discontinued operations     ($  622,226)    ($  588,205)    ($  409,151)    ($  319,893)    ($4,164,259)

Extraordinary loss on retirement of debt ...........           --              --              --              --          (250,000)

Loss from discontinued operations ..................           --          (145,925)           --          (125,783)       (843,927)
                                                        -----------     -----------     -----------     -----------     -----------
        Net loss ...................................    ($  622,226)    ($  734,130)    ($  409,151)    ($  445,676)    ($5,258,186)
                                                        ===========     ===========     ===========     ===========     ===========

Basic and diluted loss per share ...................    ($     0.06)    ($     0.08)    ($     0.04)    ($     0.05)

Basic and diluted weighted average
shares outstanding .................................      9,566,668       9,566,668       9,566,668       9,566,668

</TABLE>


The accompanying notes are an integral part of these financial statements


                                                                 4

<PAGE>


<TABLE>
<CAPTION>
                                                INTERNATIONAL DISPENSING CORPORATION
                                                    (A Development Stage Company)

                                                       STATEMENT OF CASH FLOWS
                                                                                                                        Cumulative
                                                                                                                      from Inception
                                                                                   Six months         Six Months    October 10, 1995
                                                                                     ended              ended             through
                                                                                 June 30, 1999      June 30, 1998      June 30, 1999
                                                                                  (unaudited)        (unaudited)        (unaudited)
                                                                                  -----------        -----------        -----------
<S>                                                                               <C>                <C>                <C>
Cash flows from operating activities:
Net Loss ..................................................................       $  (622,226)       $  (442,280)       $(5,258,186)
Adjustment for(income) loss from discontinued operations ..................              --             (145,925)           843,927
                                                                                  -----------        -----------        -----------
Net loss from continuing operations .......................................          (622,226)          (588,205)        (4,414,259)
Adjustments to reconcile net loss to
 net cash used in operating activities:
  Depreciation and amortization ...........................................             3,600              2,999             20,054
  Compensation from stock grant ...........................................              --                 --               25,279
  Non-cash compensation ...................................................              --                 --               76,238
  Loss on retirement of debt ..............................................              --                 --              250,000
  Changes in operating assets and liabilities:
    Increase in accounts receivable .......................................            (5,675)          (343,670)            (5,675)
    (Increase) decrease in prepaid expenses ...............................            (2,564)            34,000            (46,109)
    Increase in other assets ..............................................           (24,002)          (618,627)           (48,235)
    Increase (decrease) in accrued expenses (66,505) ......................             1,340                               -19,278
    Increase in accounts payable ..........................................            19,222                                39,013
                                                                                  -----------        -----------        -----------
Net cash used in continuing operating activities ..........................          (698,150)        (1,512,163)        (4,122,972)
Net cash provided by (used in) discontinued operations ....................              --              145,925           (843,927)
Net cash used by operating activities .....................................          (698,150)        (1,366,238)        (4,966,899)
Cash flows from operating activities:
  Purchase of fixed assets ................................................           (27,402)              --              (60,941)
  Purchase of license .....................................................              --                 --           (4,000,000)
                                                                                  -----------        -----------        -----------
Net cash used in investing activities .....................................           (27,402)              --           (4,060,941)
Cash flows from financing activities:
  Proceeds from private placement .........................................              --                 --            2,100,000
  Proceeds from issuance of convertible debt ..............................              --                 --              150,000
  Repayment of promissory note ............................................              --                 --             (300,000)
  Repayment of bridge loans ...............................................              --                 --           (1,050,000)
  Repayment of convertible debt ...........................................              --                 --             (100,000)
  Proceeds from initial public offering ...................................              --                 --            8,772,815
                                                                                  -----------        -----------        -----------
Net cash provided from financing activities ...............................              --                 --          $ 9,572,815
                                                                                  -----------        -----------        -----------
Net increase (decrease) in cash and cash equivalents                                 (725,552)        (1,366,238)           544,975
Cash and cash equivalents, beginning of period ............................         1,270,527          3,138,204               --
                                                                                  -----------        -----------        -----------
Cash and cash equivalents,end of period ...................................       $   544,975        $ 1,771,966        $   544,975
                                                                                  ===========        ===========        ===========
Supplemental disclosure of cash flow information:
  Cash paid for interest ..................................................              --                 --          $    66,665
Non-cash investing and financing activities:
  Issuance of common stock ................................................              --                 --          $     5,800
  Purchase of license from affiliate ......................................              --                 --          $ 4,000,000

</TABLE>


The accompanying notes are an integral part of these financial statements


                                                                 5

<PAGE>


                      INTERNATIONAL DISPENSING CORPORATION
                          (A Development Stage Company)

                        NOTES TO THE FINANCIAL STATEMENTS
                   (Information as of and for the period ended
                          June 30, 1999 is unaudited)


1.       THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES

         The balance sheet as of June 30, 1999 and  statements of operations and
statements  of cash flows for the three months then ended have been  prepared by
International  Dispensing Corporation (the "Company") without audit. The results
should be read in conjunction  with the audited  financial  statements and notes
thereto  included  in the  Company's  Annual  Report on Form 10-KSB for the year
ended  December 31, 1998.  Results of operations for the six month period is not
necessarily  indicative  of the  operating  results  for the full year.  Interim
statements are prepared on a basis consistent with year end statements.

         In  the  opinion  of  management,   the  unaudited   interim  financial
statements  furnished  herein  include  all  adjustments  necessary  for a  fair
presentation of the results of operations of the Company.  All such  adjustments
are of a normal recurring nature.

2.       GOING CONCERN

         The  Company's   development  stage  activities  have  resulted  in  an
accumulated  deficit from  inception to June 30, 1999, in excess of $9.6 million
(including  a  discontinued  operation  in China of  $844,000,  see Note 3), and
losses are  continuing.  Since its inception,  the Company has not generated any
revenue from operations.  The Company's  primary source of funds since inception
has been from the sale of its common stock.  Consequently,  there is doubt about
the Company's  ability to continue as a going concern.  Management is attempting
to raise additional capital through a private placement of securities to provide
funding  to  allow  it to  continue  development  of  its  licensed  technology.
Notwithstanding, the Company believes that with the completion of the production
injection  mold for its Gravity Feed Valve  Assembly,  scheduled  for the fourth
quarter of 1999, it will generate sales revenue in the fourth quarter of 1999.

3.       DISCONTINUED OPERATIONS

         On December 23, 1997,  the Company  entered into an agreement with Well
Men Industrial Company Limited, a Hong Kong registered corporation ("Well Men"),
pursuant to which Well Men granted to the Company an  exclusive  right to market
and sell in China  certain  Well Men  products.  Well Men also  assigned  to the
Company for the purpose of commercializing  such Well Men products,  all of Well
Men's patents and patent  applications  relating to such Well Men products.  The
agreement  was for an  initial  term of ten  years.  The  Company  had  opened a
representative  office in China to promote the sales of Well Men products and to
establish the name of the Company.  The Company incurred  cumulative expenses of
approximately   $844,000   related  to  the  opening  and   maintaining  of  the
representative  office in China,  merchandise  shipped to China, and general and
administrative expenses.

         In December 1998,  Well Men materially  breached its agreement with the
Company by selling Well Men water heaters  directly in China. In addition,  Well
Men had  refused to pay for any of the  products  provided to it. As a result of
this breach and the  Company's  inability  to obtain  payment from Well Men, the
Company  discontinued  this  operation  and  wrote-off  all related  receivables
resulting in a loss of $719,000 in 1998. For the six months ended June 30, 1998,
the  Company's  results  of  operations  have been  classified  as  discontinued
operations.

         It is the  Company's  intent  to pursue  payment  of  reimbursement  of
expenses incurred in the Company's China undertaking from Well Men.


                                        6

<PAGE>


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

         The Company was incorporated in Delaware in October 1995 under the name
ReSeal Food  Dispensing  Systems,  Inc.  and  changed its name to  International
Dispensing  Corporation on September 12, 1996. The Company was formed  primarily
for the  purpose  of  commercializing  and  marketing  certain  proprietary  and
patented delivery and dispensing technologies (the "Technologies") licensed from
ReSeal International  Corporation ("RIC"), which Technologies consist of barrier
oriented,  closed delivery and dispensing  systems (the "Systems")  composed of:
(i)   self-adjusting   reservoir   bodies,   (ii)  patented,   barrier  capable,
unidirectional  flow  valves (the "Valve  Assemblies"),  and (iii) as  required,
mechanisms to activate and facilitate the product  delivery and flow  functions.
When  utilized in  dispensing a flowable  food and  beverage  product like milk,
juice,  wine,  etc., the Systems are designed to maintain the sterility,  purity
and freshness of such product  throughout its use life,  with the possibility of
eliminating or reducing the need for adding preservatives to the product to keep
it fresh  and/or  refrigeration  throughout  its use  life.  The  self-adjusting
reservoir  body of a System is designed to shrink in proportion to the amount of
the product being dispensed through the Valve Assembly. The Valve Assemblies are
designed to dispense a product without  letting either air or contaminants  flow
back into the internal  reservoir in which the  remaining  product is held.  The
Company  believes that by maintaining  the purity of the product that remains in
the  container,  the  Systems  will  provide  higher  levels  of  freshness  for
significantly  longer periods of time and, if preservatives are eliminated,  the
level of purity, of a wide array of packaged flowable products.

         The Company is  primarily  focusing  its  marketing  activities  on the
application of the licensed  technologies in the Field of Use (as defined below)
as set forth in that certain Amended and Restated License Agreement, between the
Company and RIC, which  encompasses the food and beverage  industries as broadly
defined.  "Field Of Use" means the use of the  Technology to make,  use,  lease,
sell or distribute (a) any food or beverage dispensers or containers that embody
the Technology or the  manufacture,  use,  lease,  sale or distribution of which
uses  the  Technology  (collectively  the  "Product")  intended  for  use  in an
industrial  or  commercial  place  of  business  in the  preparation  of food or
beverage at such place of business,  (b) any food or beverage  Product  intended
for  use  in an  industrial  or  commercial  place  of  business  by a  customer
purchasing  food or beverage at such place of business for consumption on or off
the  premises of such place of  business,  or (c) any food or  beverage  Product
intended  to be  sold to or by food or  beverage  wholesale  price  discounters,
retailers  and similar  establishments  that sell food or beverage to consumers.
Within such  categories,  the  applications of the licensed  technologies can be
divided into a number of  potential  markets,  including  but not limited to the
following: (i) beverages, which include milk/cream,  coffee, tea (hot and cold),
hot  chocolate,  juices,  sweeteners,  baby formula,  baby food (in puree form),
wines and water;  (ii) foods,  which include soups,  liquid eggs, liquid butter,
sauces,  yogurt,  melted cheese (nachos),  baby foods and hot toppings in liquid
form; and (iii) condiments,  which include ketchup,  barbecue sauce, mayonnaise,
salad dressing, oils and mustard.

         The prototype  tooling for production of prototype Valve Assemblies has
been  completed.  Initial  prototype  Valve  Assemblies  have been  produced and
subjected  to  independent   laboratory  testing.  Such  laboratory  testing  is
continuing.  In addition, the Company has supplied specific prototype Systems to
customers for consumer testing.  Additional customers will also be supplied with
prototype  systems.  In June of 1999,  the Company  placed an order for a single
cavity steel  production  tool, and  semi-automated  assembly  equipment for its
valve assemblies to be delivered in the fourth quarter of 1999.

                                       7

<PAGE>


         On  November  10,  1997,  the  Company  entered  into a  Joint  Systems
Development  Agreement with  Packaging  Systems,  L.L.C.,  the parent company of
Rapak, Inc. The resulting products of this strategic alliance will be Bag-in-Box
with unique  Valve/Pump  Technology food and beverage delivery systems that will
be marketed to the food and beverage industries throughout the United States.

         On December 23, 1997,  the Company  entered into an agreement with Well
Men Industrial Company Limited, a Hong Kong registered corporation ("Well Men"),
pursuant to which Well Men granted to the Company an  exclusive  right to market
and sell in China  certain  Well Men  products.  Well Men also  assigned  to the
Company for the purpose of commercializing  such Well Men products,  all of Well
Men's patents and patent  applications  relating to such Well Men products.  The
agreement  was  for  an  initial  term  of  ten  years.  The  Company  opened  a
representative  office in China to promote  the sales of these  products  and to
establish the name of the Company. Operations commenced in March, 1998.

         In December of 1998,  Well Men  materially  breached its agreement with
the Company by selling Well Men water heaters  directly in China. As a result of
this breach,  the Company has  discontinued  its operations in China  and took a
charge in the fourth quarter of 1998 of $718,926 representing costs and expenses
incurred by the Company in its China venture.

         The Company intends to pursue payment of a $332,750  receivable arising
from sales to a Chinese customer which purchased water heaters and pitchers from
the Company in 1998, as well as reimbursement from Well Men of expenses incurred
by the Company in its China venture.


                              RESULT OF OPERATIONS

SIX MONTHS ENDED JUNE 30, 1999 COMPARED TO SIX MONTHS ENDED JUNE 30, 1998

         REVENUE - The Company has not  generated  any revenue  from  operations
since its inception.

         OPERATING  EXPENSES  - For the six  months  ended  June 30,  1999,  the
Company had operating expenses of $691,842,  which included $163,671 in research
and development related expenses,  versus operating expenses of $646,964 for the
six month period ended June 30, 1998. This increase of $44,878, or 6.9% over the
comparable  period last year,  is due  primarily  to an increase in research and
development related expenses, and the hiring of a new President/CEO on March 15,
1999.

         NET LOSS - For the six months  ended June 30,  1999,  the Company had a
net loss of $622,226 versus a net loss of $734,150 for the six months ended June
30, 1998.  This decrease in net loss of $111,924,  or 15.2% over the  comparable
period last year, is due to the Company having incurred a loss from discontinued
operations   of  $145,925  for  the  six  month  period  ended  June  30,  1998,
attributable to its China venture.

THREE MONTHS ENDED JUNE 30, 1999 COMPARED TO THREE MONTHS ENDED JUNE 30, 1998

         OPERATING  EXPENSES - For the three  months  ended June 30,  1999,  the
Company had operating  expenses of $415,871,  which included $85,252 in research
and development related expenses,  versus operating expenses of $345,368 for the
three month period ended June 30, 1998.  This  increase of $70,503 or 20.4% over
the comparable period last year, is due primarily to an increase in research and
development related expenses, and the hiring of a new President/CEO on March 15,
1999.

                                       8

<PAGE>


         NET LOSS - For the three months ended June 30, 1999,  the Company had a
net loss of $409,151  versus a net loss of $445,676  for the three  months ended
June 30, 1998. This decrease in net loss of $36,525,  or 8.2% over the same time
period last year, is due primarily to the reduction in operating expenses.

         The  Company  has  reported a net loss from  operations  of $ 5,258,186
since inception.

                               FINANCIAL CONDITION

         As reflected in the financial  statements,  the Company has experienced
continuing net losses and negative cash flows from  operations  through June 30,
1999. The Company's ability to continue as a going concern is dependent upon its
ability to obtain additional financing and to produce and market its products.
As of June 30, 1999, the Company had liquid assets of $691,681.

         In a private placement concluded in February 1996, the Company obtained
aggregate  capital  of  $2,250,000  through  the  issuance  by  the  Company  of
convertible notes, options and the sale of Common Stock.

         In October  1996,  the Company  sold,  in an initial  public  offering,
833,334  Units,  each Unit  consisting  of two  shares  of Common  Stock and two
redeemable Class A purchase  warrants for $12.00 per Unit. Each warrant entitles
the holder to purchase one share of the Company's  Common Stock for $7.00 during
the four year period commencing  October 3, 1997. The warrants are redeemable by
the  Company  at $.05 per  warrant  any time  after  October  3, 1997 if certain
conditions  are met.  The net  proceeds,  which the  Company  received  from the
offering, amounted to approximately $8.8 million.

         As of June 30,  1999,  the  Company had  working  capital of  $544,975.
During the first two quarters of Fiscal 1999, the Company was spending at a rate
of  approximately  $115,000 per month.  The Company  expects that such rate will
increase to approximately  $135,000 per month commencing in the third quarter of
Fiscal  1999.  Such  increase  will  be  primarily  due to the  commencement  of
production of the Valve Assemblies.

         The Company expects that it will require  additional capital to finance
its operations  after the third quarter of Fiscal 1999. The Company is seeking a
minimum  of $1.5  million  in  financing.  If the  Company is not able to obtain
additional  funds on terms  and  conditions  satisfactory  to the  Company,  the
Company will have to delay the  acquisition of production and prototype  tooling
for the Company's Valve Assemblies.

                                       9

<PAGE>



PART II - OTHER INFORMATION

Item 1.   Legal Proceedings
                   None

Item 2.   Changes in Securities and Use of Proceeds
                   None

Item 3.   Defaults Upon Senior Securities
                   None

Item 4.   Submission of Matters to a Vote of Security Holders

          An Annual Meeting of  Stockholders of the Company was held on June 18,
1999.  The  stockholders  elected  Claude K. Lee and Gary R. Allanson as Class 1
directors  to serve for a term  expiring  at the 2002  Meeting  of  Stockholders
(7,179,134  shares  voting in favor of the  election  of  Claude K. Lee,  56,912
shares  withholding votes for Claude K. Lee,  7,169,134 shares voted in favor of
the election of Gary R. Allanson and 66,912 shares withholding votes for Gary R.
Allanson).

          The stockholders  also approved a proposal to amend the Company's 1998
Stock Option Plan to increase  from 650,000 to 850,000 the  aggregate  number of
shares of the  Company's  Common Stock which may be issued upon  exercise of all
options under the 1998 Stock Option Plan.  The number of votes cast in favor was
6,694,157,  the  number  votes  cast  against  was  530,124  and the  number  of
abstentions was 11,765.  Finally, the stockholders  approved a proposal to amend
the  Company's  Director  Option  Plan to increase  from  250,000 to 450,000 the
maximum  aggregate  number of shares of the Company's  Common Stock which may be
optioned and sold under said Plan, and further amend the Company's Director Plan
to provide that each outside  director,  provided that he or she is then serving
as director,  be  automatically  granted an option to purchase  20,000 shares of
Common Stock on each  anniversary  of the date such  outside  director was first
elected as a  director.  The number of votes  cast in favor was  5,747,575,  the
number of votes cast against was  1,442,106  and the number of  abstentions  was
46,365.

Item 5.      Other Information
                   None

Item 6.      Exhibits and Reports on Form 8-K
                   (a)   Exhibit 27 - Financial Data Schedule
                   (b)   No reports on Forms 8-K have been filed for the quarter
                         for which this report is being filed.





                                       10

<PAGE>


                                   SIGNATURES

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


                                           INTERNATIONAL DISPENSING
                                                 CORPORATION



Date: July 28, 1999                        /s/ Gary R. Allanson
                                           -------------------------------------
                                           Gary R. Allanson
                                           Chief Executive Officer and President
                                             (Principal Executive Officer)




Date: July 28, 1999                        /s/ Jeffrey D. Lewenthal
                                           -------------------------------------
                                           Jeffrey D. Lewenthal
                                           Chief Financial Officer and Treasurer
                                             (Principal Accounting and Financial
                                               Officer)






                                       11