SOUTHWEST CAPITAL CORP
10QSB/A, 1996-05-31
NON-OPERATING ESTABLISHMENTS
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                                  FORM 10-QSB/A

                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D. C. 20549


(Mark One)

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

For the Quarterly Period Ended March 31, 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 Number: 0-8149



                         SOUTHWEST CAPITAL CORPORATION
              (Exact name of small business issuer in its charter)

              New Mexico                               85-0169650
   (State or other jurisdiction of                  (I.R.S. Employer
    incorporation or organization)                  Identification No.)

 1650 University NE, Suite 100, Albuquerque, NM           87102
   (Address of principal executive offices)             (Zip Code)      

                                  505-884-7161
                 Issuer's telephone number, including area code

                                 Not Applicable
(Former  names,  former  address and former  fiscal year,  if changed since last
report)

Indicate by check mark whether the issuer (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___

The number of shares  outstanding of the issuer's common stock,  par value $1.00
per share, at March 31, 1996 was 1,568,791 shares.

Transitional Small Business Format (check one) Yes [  ] No [XX]




                     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.


SOUTHWEST CAPITAL CORPORATION



BY:                                     Laurence S. Zipkin
                                        -----------------------------
                                        Laurence S. Zipkin, President

BY:                                     Alan R. Geiwitz
                                        ------------------------------------
                                        Alan R. Geiwitz, Assistant Secretary

DATE:  May 31, 1996



<TABLE> <S> <C>

<ARTICLE> 5
       
<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               SEP-30-1995
<CASH>                                            7864
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                  7864
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                    7864
<CURRENT-LIABILITIES>                            10945
<BONDS>                                              0
                                0
                                          0
<COMMON>                                       1568791
<OTHER-SE>                                   (1571872)
<TOTAL-LIABILITY-AND-EQUITY>                      7864
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 12201
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                (12127)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            (12127)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (12127)
<EPS-PRIMARY>                                   (.007)
<EPS-DILUTED>                                   (.007)
        

</TABLE>


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