[DESCRIPTION] COVER PAGE
U.S. 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 June 30, 1998
[ ] 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: 0-2664
INVESTORS FINANCE, INC.
(Exact name of small business issuer as specified in its charter)
___________________
Hawaii 99-0112763
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
50 South Beretania Street, Honolulu, Hawaii 96813
(Address of principal executive offices) (Zip Code)
Issuer's telephone number: (808) 533-7437
___________________
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 [ ] No[ x ]
Number of shares outstanding of the issuer's common stock as of
June 30, 1998: 1,549,698
Transitional Small Business Disclosure Format (check one): Yes [ ] No [ x ]
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<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<CASH> 33,252
<SECURITIES> 0
<RECEIVABLES> 375,691
<ALLOWANCES> 36,840
<INVENTORY> 0
<CURRENT-ASSETS> 372,103
<PP&E> 596,265
<DEPRECIATION> 336,879
<TOTAL-ASSETS> 671,089
<CURRENT-LIABILITIES> 200,729
<BONDS> 0
0
0
<COMMON> 1,223,626
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 671,089
<SALES> 76,186
<TOTAL-REVENUES> 76,186
<CGS> 0
<TOTAL-COSTS> 124,597
<OTHER-EXPENSES> 12
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,563
<INCOME-PRETAX> (48,411)
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (48,411)
<EPS-PRIMARY> (0.031)
<EPS-DILUTED> (0.031)
</TABLE>
