IGENE BIOTECHNOLOGY INC
10QSB/A, 1995-10-16
AGRICULTURAL CHEMICALS
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                        SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  10549
  


                                   FORM 10QSB/A
                        AMENDMENT TO APPLICATION OR REPORT
                     Filed pursuant to Section 13 or 15(d) of
                     THE SECURITIES AND EXCHANGE ACT OF 1934

                            IGENE BIOTECHNOLOGY, INC.
                (Exact name of registrant as specified in charter)


                                 AMENDMENT NO. 2


     The undersigned registrant hereby amends the following items, financial 
statements, exhibits or other portions of its June 30, 1995 Report on Form
10QSB as set forth in the pages attached hereto:


PART I    Financial Information - Addition of Financial Data Statement
          pursuant to Article 5.

     Pursuant to the requirements of the Securities and Exchange Act of 1934, 
the registrant has duly caused this Amendment to be signed on its behalf by 
the undersigned, thereunto duly authorized.


                         IGENE BIOTECHNOLOGY, INC.

Date:  October 16, 1995 By:  /S/ Stephen F. Hiu
                              Chief Operating Officer
                              Principal Financial Officer &
                              Principal Accounting Officer<PAGE>

<PAGE>
                                   FORM 10QSB/A

                        SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C.  10549
(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, 1995     

                                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    0-15888   .


                      IGENE Biotechnology, Inc.              
       (Exact name of Registrant as specified in its charter)


             Maryland                                 52-1230461         
(State or other jurisdiction of incorporation       (I.R.S. Employer
       or organization)                            Identification No.)

 9110 Red Branch Road, Columbia, Maryland            21045-2020         
(Address of principal executive officers)           (Zip code)


Registrant's telephone number, including area code:     (410) 997-2599   


                                    None                              
(Former name, former address and former fiscal year, if changed since last
report)

  Indicate by a 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 (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 Registrant's $.01 par value Common 
Stock as of June 30, 1995 is   13,055,738  .


<PAGE>
                               FORM 10QSB/A

                                SIGNATURES


    Pursuant to the 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.



                                  IGENE Biotechnology, Inc.       
                                         (Registrant)


Date:  October 16, 1995
                               /s/  Stephen F. Hiu                
                                   Stephen F. Hiu  
                                   President, Treasurer and 
                                   Secretary
                             (On behalf of the Registrant and as
                              Principal Financial Officer)


<TABLE> <S> <C>

<ARTICLE>   5
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               JUN-30-1995
<CASH>                                          73,272
<SECURITIES>                                         0
<RECEIVABLES>                                   13,831
<ALLOWANCES>                                         0
<INVENTORY>                                      1,240
<CURRENT-ASSETS>                                91,573
<PP&E>                                          30,856
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 133,029
<CURRENT-LIABILITIES>                          794,765
<BONDS>                                      1,500,000
<COMMON>                                       130,557
                          472,373
                                      1,875
<OTHER-SE>                                 (2,766,541)
<TOTAL-LIABILITY-AND-EQUITY>                   133,029
<SALES>                                          9,242
<TOTAL-REVENUES>                               218,242
<CGS>                                            7,557
<TOTAL-COSTS>                                    7,557
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              69,975
<INCOME-PRETAX>                              (121,719)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          (121,719)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (121,719)
<EPS-PRIMARY>                                   (0.01)
<EPS-DILUTED>                                   (0.01)
        

</TABLE>


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