SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 2
TO
FORM 10-Q
Quarterly Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the quarter ended August 31, 1995 Commission File No. 0-8559
P.H.C., INC.
_________________________________________________________________
(Exact name of registrant as specified in its Charter)
Minnesota 41-0843021
________________________________ __________________
(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization Identification No.)
301 City Avenue
Bala Cynwyd, Pennsylvania 19004
________________________________ __________________
(Address of Principal Executive (Zip Code)
Offices)
Registrant's telephone number,
including area code: (610) 667-8225
_________________
Indicate by check mark whether the Registrant (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,
and (2) has been subject to such filing requirements for the past
90 days.
Yes X No
_________ _______
Indicate the number of shares outstanding of each of the
Registrant's classes of common stock as of the close of the
period covered by this report.
Common stock: 2,295,788 shares
Item 1. This Amendment is filed for the purpose of
including the required Financial Data Schedule for
the subject report, filed herewith as Exhibit 27.
<PAGE>
<PAGE>
SIGNATURES
__________
Pursuant to the requirements of the Securities and
Exchange Act of 1934, the Registrant has duly caused this report
to be signed on its behalf by the undersigned thereunto duly
authorized.
P.H.C., Inc.
Dated: January 25, 1996 By:/s/Albert M. Zlotnick
______________________________
Albert M. Zlotnick
President
Chairman of the Board
Chief Financial Officer
and Chief Executive
Officer
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<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAY-31-1996
<PERIOD-END> AUG-31-1995
<CASH> 674
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 757
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 841,107
<CURRENT-LIABILITIES> 120,586
<BONDS> 0
0
0
<COMMON> 229,578
<OTHER-SE> 490,948
<TOTAL-LIABILITY-AND-EQUITY> 841,107
<SALES> 0
<TOTAL-REVENUES> 16,107
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 16,695
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (588)
<INCOME-TAX> 0
<INCOME-CONTINUING> (588)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (588)
<EPS-PRIMARY> 0.0
<EPS-DILUTED> 0.0
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