SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                  FORM 10-QSB


(Mark One)

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

                 For the quarterly period ended September 30, 1996

                                     OR

 /   / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
       EXCHANGE ACT OF 1934

       For the transition period from               to               .
                                     ---------------  ---------------


                         Commission File No. 33-18834-LA


                              MED-TEX CORPORATION      
                              -------------------

         (Exact name of small business issuer as specified in its charter)


                Nevada                              87-0306464
     (State or other jurisdiction of 
      incorporation or organization)      (IRS Employer Identification No.)


              2440 South Progress Drive, Salt Lake City, Utah 84119
              -----------------------------------------------------
               (Address of principal executive offices) (Zip Code)


                               (801) 972-2201
                            --------------------
                        (Issuer's telephone number)



   ------------------------------------------------------------------------ 
 (Former name, former address and former fiscal year, if changed since last
  report)


      Check whether the issuer (1) filed all reports required 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     
                                -----   -----

     As of October 31, 1996, 5,877,668 shares of Common Stock of the issuer 
 were outstanding.





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                               MED-TEX CORPORATION

                                      INDEX
<TABLE>
<CAPTION>
                                                                     Page
                                                                    Number
                                                                    ------
<S>                                                                 <C>
 PART I -  FINANCIAL INFORMATION

     Item 1.  Financial Statements

              Consolidated Balance Sheets - September 30, 1996
             (unaudited)and December 31, 1995 (audited)................1

             Unaudited Consolidated Statements of Operations - 
             For the three months and nine months September 30, 
             1996 and 1995.............................................2

             Unaudited Consolidated Statements of Cash Flows - 
             For the nine months ended September 30, 1996 and 1995.....3

             Notes to Unaudited Consolidated Financial Statements......4

     Item 2.  Management's Discussion and Analysis of Financial 
              Condition and Results of Operations......................5

 PART II - OTHER INFORMATION...........................................5

 SIGNATURES............................................................7

</TABLE>

































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                         PART I - FINANCIAL INFORMATION

 ITEM 1.  FINANCIAL STATEMENTS

                       MED-TEX CORPORATION AND SUBSIDIARIES
                           Consolidated Balance Sheets
<TABLE>
<CAPTION>
                                   ASSETS

                                                     September 30   December 31
                                                          1996         1995    
                                                      ------------  -----------
<S>                                                   <C>           <C>
 CURRENT ASSETS:
   Cash                                               $    1,165    $    18,130
   Accounts Receivable                                     3,519         15,506
   Inventory                                             116,052        124,933
   Prepaid Expenses                                        7,000             - 
                                                       ---------    ----------
     Total Current Assets                             $  127,736    $   158,569
                                                      ----------    ----------

 PROPERTY AND EQUIPMENT        
   Leasehold Improvements                             $  172,572    $   172,572
   Less Accumulated depreciation                          13,852          9,427
                                                        --------    ----------
     Net Property and Equipment                       $  158,720    $   163,145
                                                       ---------    ----------
 OTHER ASSETS
   Licenses and permits, net                          $  145,570    $   155,570
   Goodwill, net                                         363,662        386,617
   Deposits and Other                                     11,176         11,177
                                                      ----------    ----------

     Total Other Assets                               $  520,408    $   553,364
                                                      ==========    ===========

   Total Assets                                       $  806,864    $   875,078
                                                      ----------    ----------

                    LIABILITIES AND STOCKHOLDERS' EQUITY

 CURRENT LIABILITIES:
   Accounts Payable                                   $  256,270    $   304,048
   Accrued Interests Payable                             146,444         79,796
   Current Portion Long Term Debt                         49,811         37,183
   Other Accrued Liabilities                               3,500          8,329
                                                      ----------    -----------

     Total Current Liabilities                        $  456,025    $  429,356
                                                      ----------    -----------

   Long Term Debt                                     $1,188,835    $1,106,833

 STOCKHOLDERS' EQUITY (Deficit):
  Common Stock, $.001 Par Value; 50,000,000 Shares
   Authorized, 5,877,668 Shares Issued and 
   Outstanding                                        $    5,878    $    5,836
  Additional Paid In Capital                           1,439,663     1,393,362
  Accumulated Deficit                                 (2,283,537)   (2,060,309)
                                                      ----------     ---------

     Total Stockholders Equity                          (837,996)     (661,111)
                                                      ----------    ----------
 Total liabilities and Stockholder Equity             $  806,864    $  875,078
                                                      ==========     ==========
</TABLE>

        See Accompanying Notes to Consolidated Financial Statements

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<PAGE>


                  MED-TEX CORPORATION AND SUBSIDIARIES 
                  CONSOLIDATED STATEMENT OF OPERATIONS
                             (Unaudited)

<TABLE>
<CAPTION>
                                      For the             For the
                               Three Months Ended    Nine Months Ended
                                   September 30           September 30
                              ----------------------  --------------------
                                 1996        1995        1996      1995    
                              ---------   ----------  ---------  ---------
<S>                           <C>         <C>         <C>        <C>
Net Revenues                 $   24,389   $   88,541  $  67,890  $ 250,440
Cost of Sales                    13,199      150,157     40,392    177,345
                             ----------   ----------  ---------  ---------
Gross Profit (Loss)          $   11,190   $  (61,616) $  27,498  $  73,095
Operating Expenses               68,307      125,706    250,736    370,559
                             ----------   ----------  ---------  ---------
Net Income (Loss)            $  (57,117)  $ (187,322) $(223,238) $(297,464)
                             ==========   ========== ========== ==========
Net Income (Loss) per 
Common Share                 $     (.01)  $      .03  $    (.04) $    (.06)
                             ==========   ========== ========== ==========
Weighted Average Shares 
Outstanding                   5,877,668    5,368,106  5,850,372  5,368,106
                             ==========   ==========  =========  =========

</TABLE>






















             See Accompanying Notes to Consolidated Financial Statements



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                      MED-TEX CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                                 (Unaudited)

<TABLE>
<CAPTION>
                                                       For the Nine Months
                                                       Ended September 30,
                                                     ----------------------
                                                       1996         1995
                                                     ---------   ----------
<S>                                                  <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Income <Loss>                                  $(23,228)   $(110,143)
  Adjustments to reconcile net income <loss> to
  cash provided by (used in)operating activities
     Depreciation and Amoritization                    37,380       31,959
     Decrease (Increase) in accounts receivable        11,987       (3,152)
     Decrease (Increase) in inventory                   8,882       28,846
     Decrease (Increase) in prepaid expenses           (7,000)       1,301
     Increase (Decrease) in accounts payable           (9,764)     (78,123)
     Increase in accrued interest payable              66,648       22,795
     Decrease (Increase) in other accrued liabilities   3,500        5,774
                                                     --------     --------

     Net Cash Provided by (Used in) Operating 
     Activities                                     $(111,595)    (100,743)
                                                    ---------     --------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Loans from related parties                        $ 122,683     $104,967
  Principal payment on loan                            28,053            -
                                                    ---------     --------
     Net Cash Provided by (Used in) Financing
     Activities                                     $  94,630     $104,967
                                                    ---------     --------

  Increase (Decrease) in cash                       $  16,965     $  4,224
  Cash at beginning of period                          18,130       10,946
                                                    ---------     --------
  Cash at end of period                             $   1,165     $ 15,170
                                                    ---------     --------

</TABLE>


















         See Accompanying Notes to Consolidated Financial Statements<PAGE>
<PAGE>

<PAGE>
<PAGE>
                      MED-TEX CORPORATION AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 1996
                                  (UNAUDITED)


1.  The interim financial statements are prepared pursuant to the requirements
    for reporting on Form 10-QSB.  The December 31, 1995 balance sheet data 
    was derived from audited financial statements but does not include all
    disclosures required by generally accepted accounting principles.  The
    interim financial statements and notes thereto should be read in
    conjunction with the financial statements and footnotes thereto included
    in the Company's report on Form 10-KSB for the year ended December 31,
    1995.  In the opinion of management, the interim financial statements
    reflect all adjustments of a normal recurring nature necessary for a fair
    statement of the results for the interim periods presented.

2.  The Company's financial statements are prepared using generally accepted
    accounting principles applicable to a going concern which contemplates the
    realization of assets and liquidation of liabilities in the normal course
    of business.  However, the Company does not have significant cash or other
    material assets, nor does it have an established source of revenues
    sufficient to cover its operating costs and to allow it to continue as a
    going concern.



<PAGE>
<PAGE>

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

Material Changes in Results of Operation

Three Months Ended September 30

 Sales for the three months ended September 30, 1996 decreased $64,152 or
 72.4%, to $24,389 from $88,541 for the three months ended September 30, 1995. 
 This decrease in sales is attributable to the Company winding down its 
 business affairs.

 Gross profit increased by $77,806 to $11,190 for the three months ended
 September 30, 1996 from a loss of $61,616 for the three months ended September
 30, 1995.  This increase in gross profit margins was attributable to the sale
 of raw materials in the current period (instead of finished goods) which
 products produce a higher margin.

 Operating expenses decreased by $57,399, or 54.3%, to $68,307 for the three
 months ended September 30, 1996 from $125,706 for the three months ended
 September 30, 1995.  This decline is attributable to the Company winding down
 its business operations.

Nine Months Ended September 30

 Sales for the nine months ended September 30, 1996 decreased $182,550, or
 72.9%, to $67,890 from $250,440 for the nine months ended September 30, 1995. 
 This decrease in sales is attributable to the Company winding down its
 business affairs.

 Gross Profits for the nine months ended September 30, 1996 decreased $45,597,
 or 62.4%, to $27,498 from $73,095 for the nine months ended September 30,
 1995.  This decrease in gross profits is principally attributable to reduced
 sales volume.

 Operating expenses decreased $119,823 or 32.3% to $250,736 for the three
 months ended September 30, 1996 from $370,559 for the nine months ended
 September 30, 1995.  This decrease in operating expenses is attributable to
 the Company winding down its business affairs.

Changes in Financial Condition, Liquidity and Capital Resources

 For the past twelve months, the Company has funded its operating losses and
 capital requirements through loans from related parties and other issuance of
 debt.  As of September 30, 1996, the Company had a cash balance of $1,165 and
 a deficiency in working capital of $328,289. 

 Net cash used in operating activities increased to $111,595 from $100,743 for
 the nine months ended September 30, 1996 and 1995, respectively.  The increase
 resulted from a larger net operating loss partially offset by an increase in
 current payables.

 Net cash provided by financing activities decreased to $94,630 from $104,967
 for the nine months ended September 30, 1996 and 1995, respectively.  This
 decrease is attributable to reduced net borrowings from a related party.

 At September 30, 1996, the Company had long term debt of $1,188,835
 consisting principally of loans from affiliates.  Also included in such long
 term debt is a bank loan which calls for installments of principal and
 interest in the amount of $4,539 per month.  Because of the Company's deficit
 in working capital and ongoing operating losses, the Company's ability to make
 required payments on outstanding debt, payments on which are now in arrears,
 is dependent upon the receipt of additional funding from affiliates or other
 sources.  No commitments to provide such funding presently exists.

<PAGE>
<PAGE>

 The Company has experienced significant operating losses throughout its
 history.  The Company and its subsidiaries' ability to survive is dependent on
 their ability to refinance their debt, borrow additional sums from affilates,
 acquire a profitable operating subsidiary through the issuance of stock, or
 raise additional capital to purchase or start a new business operation. 
 Without the success of one of these options, the Company does not have
 sufficient cash to satisfy its working capital requirements for the next
 twelve months.

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<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 authorized.

<TABLE>
<S>                                   <C>
(REGISTRANT)                          MED-TEX CORPORATION
BY (SIGNATURE)                        /S/ K. Scott Crawford
(NAME AND TITLE)                      K. Scott Crawford,
                                      President and Chief Executive Officer
(DATE)                                November , 1996

BY (SIGNATURE)                        /S/ Karen Pollino
(NAME AND TITLE)                      Karen Pollino,
                                      Chief Financial Officer
(DATE)                                November , 1996
</TABLE>