BUTTERFLY TECHNOLOGY INC
10QSB/A, 1997-02-26
BLANK CHECKS
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC  20549

AMENDMENT NO. 1 TO

FORM 10-QSB


Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 
1934

For the quarterly period ended March 31, 1996      

Commission File Number   33-98694-NY                                

                  BUTTERFLY TECHNOLOGY, INC.                 
(Name of Small Business Issuer as Specified in Its Charter)

  Nevada                                 
11-3276768                                        
(State or Other Jurisdiction of         (IRS Employer        Incorporation or 
Organization)         Identification No.)


       63 Wall Street, Suite 1801, New York, NY  10005       
     (Address of Principal Executive Offices)

                       (212) 344-1600                        
     (Issuer's Telephone Number, Including Area Code)

                                                                  
(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      

The number of shares outstanding of the issuer's common stock, as of March 31, 
1996 was: 16,500 

The purpose of this Amendment is to add a Financial Data Schedule.
<PAGE>BUTTERFLY TECHNOLOGY, INC.
FORM 10-QSB
March 31, 1996






INDEX


Item 6.  Exhibits and Reports on Form 8-K
               Financial Data Schedule
<PAGE>Item 6. Financial Data Schedule
<PAGE>





SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, 
the registrant caused this report to be signed on its behalf by the 
undersigned, thereunto duly authorized.


               BUTTERFLY TECHNOLOGY, INC.


              By:                              
               Oleg Lagutenko, President
               



Dated:                                              
               Oleg Lagutenko, President, Director


Dated:                                                
               Melvyn S. Aronoff, Secretary, Director

               


<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Butterfly Technology, Inc. March 31, 1996 unaudited financial statements and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                           4,094
<SECURITIES>                                    16,500
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                 6,219
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                  25,644
<CURRENT-LIABILITIES>                            3,644
<BONDS>                                              0
                                0
                                          0
<COMMON>                                        16,500
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                    25,644
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                19,425
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                         0
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0
        

</TABLE>


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