1

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

                                   (Mark One)
                  X QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

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

                     (For the Quarter ended March 31, 1998)

                         Commission File Number 1-12689

                           Genisys Reservation Systems, Inc. And
                                  Subsidiaries
                            (formerly Robotic Lasers, Inc.)
             (Exact Name of registrant as specified in its charter)

New Jersey                                                22-2719541
(State or other jurisdiction of                         (I.R.S. employer
 incorporation or organization)                          Identification no.)

                   2401 Morris Avenue, Union, New Jersey 07083
               (Address of principal executive offices) (Zip Code)

                                (908) 810-8767
                  Issuer's Telephone Number including Area Code


   Check  whether  the  issuer:  (1) filed all  reports  required to be filed by
  Section 13 or 15(d) of the Securities  Exchange Act of 1934 during the past 12
  months (or for such shorter periods 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 ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

  Check      whether the registrant  filed all documents and reports required to
             be filed by Section 12, 13 or 15(d) of the  Exchange  Act after the
             distribution of securities under a plan confirmed by a court.

                                     Yes No

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer=s classes of common
equity,  as of the latest  practicable  date:  As of March 31,  1998:  4,735,594
shares of Common Stock (as adjusted for stock split)

            Transitional Small Business Disclosure Format (check one)

                                    Yes X No


<PAGE>

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>


               GENISYS RESERVATION SYSTEMS, INC. AND SUBSIDIARIES
                     Development Stage Companies
                     CONSOLIDATED BALANCE SHEETS

                                                                       March                     December
                                                                       31, 1998                  31, 1997
                                                                       (unaudited)
                                                     ASSETS

CURRENT ASSETS
        Cash and cash equivalents                                      $ 1,634,396             $2,207,841
        Accounts receivable                                                  9,779                  8,784
     Prepaid Expenses                                                       19,097                  5,127
                                                                       -----------             -----------  
         Total Current Assets                                            1,663,272              2,221,752

EQUIPMENT, NET OF ACCUMULATED
       DEPRECIATION                                                        257,073                261,643

OTHER ASSETS
       Computer software costs, less accumulated
            amortization                                                    587,725                581,193
       Debt issue costs, less accumulated amortization                       21,913                 26,609
       Deposits and Other                                                    61,609                 61,669
                                                                            --------              --------  
                                                                            671,247                669,471
                                                                         -----------          ------------
                                                                         $2,591,592           $  3,152,866
                                                                         ===========          ============
                   LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIENCY)

CURRENT LIABILITIES:
      Current maturities of long-term debt                             $    109,843            $   114,957
      Accounts payable and accrued expenses                                 151,627                189,712
      Accrued interest payable - related parties                            174,533                163,296
      Accrued consulting fees - related parties                               3,000                  3,000
                                                                       -------------            -----------     
         Total current liabilities                                          439,003                470,965
                             
LONG-TERM DEBT:
     Long-term debt, less current maturities                                126,894                982,742
                                                                        ------------             -----------   
         Total Liabilities                                                  565,897              1,453,707
                                                                        -------------            ---------- 
COMMITMENTS:
STOCKHOLDERS EQUITY (DEFICIENCY):
     Preferred Stock, $.0001 Par Value: 25,000,000
          Shares Authorized;  Series A Preferred Stock, 706,000
          Shares authorized; 381,177 Issued and Outstanding                     38
      Common Stock, $.0001 Par Value; 75,000,000
           Shares Authorized; 4,755,594
           Shares Issued and Outstanding                                       476                    436
      Additional Paid in Capital                                         5,781,273              4,933,851
      Deficit Accumulated During the Developmental Stage                (3,756,092)            (3,235,128)
                                                                        -----------            -----------
                                                                       
Total Stockholders Equity                                                 2,025,695             1,699,159
                                                                        -----------            -----------
                                                                         $2,591,592            $ 3,152,866
                                                                         ==========            ===========
</TABLE>

                               See Accompanying Notes to Financial Statements



<PAGE>

               GENISYS RESERVATION SYSTEMS, INC. AND SUBSIDIARIES
                           DEVELOPMENT STAGE COMPANIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (unaudited)
<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>
                                                                             Period From
                                                                                                 March 7, 1994
                                                                                                (Commencement of
                                                             Three Months Ended                  Development  Stage
                                                       March 31           March 31               Activities ) to
                                                           1998              1997                  March 31, 1998


SERVICE REVENUE                                       $    14,821       $     --                  $      40,684
                                                      ------------      --------------            ---------------   


EXPENSES:
         Cost of Service                                   19,665              ---                       44,657
         General and Administrative                       412,761           215,017                   3,088,660
               Depreciation and Amortization               96,032            31,872                     429,926
               Interest Expense, net                        7,327            46,818                     228,571
                                                         ---------          --------                  ----------
                                                          535,785           293,707                   3,791,814
                                                        ----------        -----------               ------------
NET (LOSS) INCURRED DURING
     THE DEVELOPMENT STAGE                              ($520,964)        ($293,707)                ($3,751,130)
                                                     =============      ============                ============
BASIC AND DILUTED LOSS PER                           ($    .12   )     ($      .09  )               ($ 1.33    )
     COMMON SHARE                                    =============     ==============               =============   


WEIGHTED AVERAGE NUMBER OF
     COMMON SHARES OUTSTANDING                          4,378,927         3,420,594                    2,825,616 
                                                     =============       ===========                 ===========

</TABLE>


                 See Accompanying Notes to Financial Statements


<PAGE>

               GENISYS RESERVATION SYSTEMS, INC. AND SUBSIDIARIES
                           DEVELOPMENT STAGE COMPANIES
                      CONSOLIDATED STATEMENT OF CHANGES IN
                               STOCKHOLDERS EQUITY
                                   (Unaudited)
<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>



                                                                                                  Deficit
                                                                                                  Accumulated
                                                                                Additional        During the
                                  Common Stock      Series A Preferred Stock    Paid-In           Development                 
                                  Shares  Par Value   Shares   Par Value        Capital           Stage             Total  


BALANCE - DECEMBER 31, 1997      4,355,594   $436       ---        ---           $4,933,851     ($3,235,128)      $1,699,159

CONVERSION OF LONG-TERM
DEBT INTO SERIES A PREFERRED
STOCK AT $2.125 PER SHARE            ---      ---      381,177     $38              809,962           ---           810,000

CONVERSION OF NOTES PAYABLE
INTO COMMON STOCK AT
$0.09375 PER SHARE               400,000      40       ---         ---              37,460            ---           37,500

NET LOSS                           ---        ---      ---         ---               ------       (520,964)       (520,964)
                               ------------ ------- -----------  ----------      -------------   ----------      -----------   

BALANCE AT MARCH 31, 1998      4,735,594    $476      381,177      $38           $5,781,273     ($3,756,092)     $2,025,695
                               =========    ====      =======      ====          ==========     ============     ==========

</TABLE>

                 See Accompanying Notes to Financial Statements


<PAGE>

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>
                                                          GENISYS RESERVATION SYSTEMS, INC. AND SUBSIDIARIES
                                                                                  Development Stage Companies
                                                                  CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                                               (UNAUDITED)
                                                                                                        Period From
                                                                                                      March 7, 1994
                                                                                                     (Commencement of
                                                                                                     Development Stage
                                                          Three Months Ended   Three Months Ended    Activities to
                                                            March 31,1998         March 31,1997       March 31, 1998
                                                          -------------------  --------------------  -------------------
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net loss                                                    $(520,964)        $ (293,707)           $(3,756,092)
   Adjustments to reconcile net loss to net
    cash flows from operating activities
      Depreciation and amoritization                              96,032             31,872                429,926
      Contribution to capital of services rendered                   0                  0                   49,600
      Changes in operating assets and liabilities:
        Accounts receivable                                        (995)                0                   (9,779)
        Prepaid expenses                                        (13,970)              (154)                (19,337)
        Deposits and other                                        0                     0                  (62,323)
        Accounts payable and accrued expenses                   (26,848)           351,736                 313,134
                                                          -------------------  --------------------  -------------------

          Net cash flows from operating acctivities            (466,745)            89,747              (3,054,871)
                                                          -------------------  --------------------  -------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Purchases of equipment and software                          (93,238)            (37,039)            (1,198,212)
   Acquisition of Prosoft, Inc.                                   0                     0                  (34,602)
                                                          -------------------  --------------------  -------------------

           Net cash flows from investing activities              (93,238)           (37,039)            (1,232,814)
                                                          -------------------  --------------------  -------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Proceeds from long-term debt                                    9,093                0                   14,093
   Payments on long-term debt                                   (847,500)            (65,000)             (925,840)
   Proceeds from public offering of common stock
       and warrants net of deffered offering costs                0                 4,512,291             4,507,915
   Conversion of convertible notes payable
       to common stock                                           37,500                  0                    67,500
   Conversion of long-term debt to Series A
       Preferred Stock                                          810,000                  0                   810,000
   Issuance of common stock upon exercise of option               0                      0                    15,000
   Loans and advances from related parties                        0                     6,500                    0
   Proceeds from issuance of notes payable                        0                    70,000                955,000
   Payments under computer equipment leases                     (22,555)               (9,195)               (85,631)
   Proceeds from sale and lease-back                              0                     0                    294,644
   Proceeds on Payments of convertible notes                      0                     0                      0
   Proceeds from sale of common stock                             0                     0                    110,000
   Contribution to capital - stockholder/officer                  0                    19,700                205,400
   Proceeds from issuance of 10% promissory notes                 0
      and related warrants, less related costs                    0                     0                    517,500
   Payments on 10% promissory notes and related                   0
      warrants                                                    0                     0                   (563,500)
                                                           -------------------  -------------------    -----------------
          Net cash flows from financing activities            (13,462)             4,534,296               5,922,081
                                                          -------------------  --------------------  -------------------

NET CHANGE IN CASH AND EQUIVALENTS                           (573,445)             4,587,004               1,634,396
CASH AND EQUIVALENTS, BEGINNING OF YEAR                     2,207,841                 91,548                    0
                                                          -------------------  --------------------  -------------------
                                                          
CASH AND EQUIVALENTS, END OF PERIOD                       $ 1,634,396            $ 4,678,552           $   1,634,398
                                                          -------------------  --------------------  -------------------
SUPPLEMENTAL CASH FLOW INFORMATION
   Interest paid                                          $   13,506             $      537            $     154,004
                                                          -------------------  --------------------  -------------------

   Net liabilities assumed in reverse acquisition         $       -             $     -                $      14,087
                                                          -------------------  --------------------  -------------------
                                                          
   Conversion of related party debt to common stock       $        -            $     -                $      20,109
                                                          -------------------  --------------------  -------------------
   Conversion of long-term debt to Series A Preferred
       Stock                                              $      847,500        $     -                $     847,500
                                                          -------------------  --------------------  -------------------
   Conversion of notes payable to common stock            $       37,500        $     -                $      37,500
                                                          -------------------  --------------------  -------------------
                                                          See Accompanying Notes to Financial Statements
</TABLE>



<PAGE>



               GENISYS RESERVATION SYSTEMS, INC. AND SUBSIDIARIES
                           DEVELOPMENT STAGE COMPANIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (unaudited)

Note 1            Basis of Presentation

                  The  consolidated  balance  sheet at the end of the  preceding
fiscal  year has  been  derived  from the  audited  consolidated  balance  sheet
contained  in the  Company's  Form  10-KSB  and  is  presented  for  comparative
purposes.  All other  financial  statements  are  unaudited.  In the  opinion of
management,  all  adjustments  which include only normal  recurring  adjustments
necessary to present  fairly the financial  position,  results of operations and
cash flows of all periods  presented  have been made.  The results of operations
for interim periods are not necessarily  indicative of the operating results for
the full year.

                  Footnote disclosures normally included in financial statements
prepared in accordance with the generally  accepted  accounting  principles have
been omitted in  accordance  with the  published  rules and  regulations  of the
Securities and Exchange  Commission.  These  consolidated  financial  statements
should be read in  conjunction  with the financial  statements and notes thereto
included in the Company's Form 10-KSB for the most recent fiscal year.

Note 2            Activities of the Company

                  Although planned principal operations have commenced, revenues
to date have not been significant; accordingly, the Company and its subsidiaries
continue  to  be  in  the  development   stage.  The  Company  has  developed  a
computerized limousine reservation and payment system for the business traveler.
The Company  anticipates  that the proprietary  software will enable a system of
limousine  reservations to be completely  computerized and operate without human
intervention, except for the initial inputting of travel information.

Note 3            Stockholders Equity

Preferred  Stock - The Company's  Certificate  of  Incorporation  authorizes the
issuance of up to 25,000,000  shares of Preferred  Stock. On March 10, 1998, the
Board of Directors  designated  706,000 shares of Series A Preferred Stock which
are convertible,  in whole or in part, into fully paid and nonassessable  Common
Shares on a one-for-one  basis at the option of the respective  holders thereof.
Holders of Series A Preferred Stock are entitled to receive  dividends on a pari
passu basis with the holders of the Company's Common Stock. The Company,  at its
sole  option,  has the right to redeem all or, from time to time,  any number of
the then outstanding shares of Series A Preferred Stock at a redemption price of
$2.125 per share plus a 10% per year increase in the redemption rate.

                  In March 1998, the holder of two Term  Promissory  Convertible
Notes in the principal  amounts of $475,000 and $237,500  converted  $400,000 of
the principal  amount of the former note and $200,000 of the principal amount of
the latter note into 188,235 shares and 94,118 shares respectively of the Series
A Preferred Stock of the Company at a price of $2.125 per share.

                  In March 1998, the holder of four eighteen  month  Convertible
Promissory Notes aggregating  $210,000,  converted the total principal amount of
the four notes  ($210,000) into 98,824 shares of the Series A Preferred Stock of
the Company at a price of $2.125 per share.
<PAGE>


                                                  
Note 4            Contingencies

                  On February 20, 1997, two individuals  filed an action against
the Company and Corporate  Travel Link ("Travel  Link") in the Superior Court of
New  Jersey  seeking,  among  other  things,  damages in the amount of 8% of any
financing  secured by Travel Link resulting from plaintiffs  efforts and as well
as 5% of the  Company=s  Common Stock  allegedly  due for  services  rendered in
connection with the Company=s  acquisition of Travel Link in 1995. The claim for
monetary damages is based upon an alleged written  agreement between Travel Link
and plaintiffs,  while the claim for the shares of the Company=s Common Stock is
based upon alleged oral representations and promises made by a former officer of
Travel Link. The Company  believes that the plaintiff=s  claim are without merit
and intends to vigorously  defend the action and to assert numerous  defenses in
its answer. On March 4, 1998, Travel Link filed an application with the Court to
assert a claim for indemnification against Joseph Cutrona and Steven Pollan, two
former directors and officers of Travel Link and the Company and, Mark A. Kenny,
currently a director and  employee of the Company and Travel Link,  based upon a
1995 agreement whereby such individuals agreed to hold Loeb Holding  Corporation
and  Travel  Link  harmless  and to  indemnify  them from any and all  claims or
liabilities for brokerage commissions or finder's fees incurred by reason of any
action  taken by it or them,  including  the claims of the  plaintiff's  in this
action.

                  In August  1996,  the Company gave notice to one of its former
officers that it was canceling the 333,216  shares of Common Stock issued to him
at the  inception  of Corporate  Travel  Link,  Inc. for services he was to have
provided.  The Company  believes  that the former  officer  never  provided such
services.  Pending return of the shares, they are considered outstanding for all
periods  presented  herein. On April 17, 1997, the former officer of the Company
filed an action in the United  States  District  Court,  District of New Jersey,
against the Company,  Travel Link,  the officers of both  companies  and various
related and unrelated parties seeking among other things a declaratory  judgment
that the former  officer is the owner of the 333,216  shares of Common  Stock of
the  Company  which had been issued to him at the  inception  of Travel Link for
services he was to have provided and for unspecified  compensatory  and punitive
damages.  The Company believes that the plaintiff=s claims are without merit and
intends to  vigorously  defend the action and to assert  numerous  defenses  and
counterclaims in its answer.

                  On December 23,  1997,  an  individual  filed an action in the
Superior  Court of New Jersey  against the  Company and a former  officer of the
Company  alleging that the former officer of the Company  induced such person to
leave her place of employment to assume  employment with the Company.  The claim
seeks monetary  damages based upon an oral promise of employment  allegedly made
by the same  former  officer  of the  Company.  The  Company  believes  that the
plaintiff's  claim is without merit and intends to vigorously  defend the action
and to assert numerous defenses in its answer.

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

Results of Operations

                  The Company is in the  development  stage,  and just commenced
generating  revenues in August  1997.  The Company has been  unprofitable  since
inception and expects to incur additional  operational  losses.  As reflected in
the accompanying financial statements,  the Company has incurred losses totaling
$3,756,092  since  inception  and at March 31,  1998,  had  working  capital  of
$1,224,269.

Revenues  for the three  months ended March 31, 1998 were $14,821 as compared to
no revenues for the three months ended March 31, 1997.The  corresponding cost of
service for the latter period was $19,665.

                  Selling, general and administrative expenses were $412,761 for
the three months ended March 31, 1998, as compared to $215,017  during the three
months ended March 31, 1997.  Cost  increases  during the 1998 period consist of
payroll and payroll related costs ($121,000), professional fees ($28,000),
                                                                       7
marketing costs ($34,000),  insurance costs ($2,000),  travel costs ($9,000) and
other administrative  costs ($40,000).  Consulting fees decreased $36,000 during
the 1998 period.

Liquidity and Capital Resources

                  The Company=s funds have  principally  been provided from Loeb
Holding  Corp.  as escrow  agent,  Loeb  Holding  Corp.,  LTI  Ventures  Leasing
Corporation, a private offering and a public offering.

                  In March 1998, the holder of two Term  Promissory  Convertible
Notes in the principal  amounts of $475,000 and $237,500  converted  $400,000 of
the principal  amount of the former note and $200,000 of the principal amount of
the latter note into 188,235 shares and 94,118 shares respectively of the Series
A Preferred Stock of the Company at a price of $2.125 per share.

                  In March 1998, the holder of four eighteen  month  Convertible
Promissory Notes aggregating  $210,000,  converted the total principal amount of
the four notes  ($210,000) into 98,824 shares of the Series A Preferred Stock of
the Company at a price of $2.125 per share.

                  In March 1998, the holder of two Term  Promissory  Convertible
Notes  aggregating  $37,500,  converted the total principal  amount of the notes
($37,500)  into 400,000  shares of the Common Stock of the Company at a price of
$0.09375 per share.

                  In March 31,  1998,  the  Company had cash of  $1,634,396  and
working capital of $1,224,269.  Management of the Company  estimates that it has
sufficient resources including anticipated cash to be received from revenues, to
provide for its planned operations for the next twelve months.

PART II           OTHER INFORMATION


ITEM 6.  Exhibits and Reports on Form 8-K

                  (b) Reports on Form 8-K

                  NONE


SIGNATURES

                  Pursuant to  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.

                                        GENISYS RESERVATION SYSTEMS, INC.


Date: May 15, 1998                       Lawrence E. Burk
                                         President and Chief Executive Officer

Date: May 15, 1998                       John H. Wasko
                                         Secretary, Treasurer and
                                         Chief Financial Officer