SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 10549
FORM 10QSB/A
(Mark One)
[x] Quarterly report under Section 13 or 15(D) of the Securities
Exchange Act of 1934
For the quarterly period ended June 30, 1999
[ ] Transition report under Section 13 or 15(D) of the Exchange Act
For the transition period from _________ to _________
Commission file number 0-15888
IGENE Biotechnology, Inc.
_________________________________________________________________
(Exact name of Small Business Issuer as Specified in its Charter)
Maryland 52-1230461
_______________________________ ___________________________
(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or organization) Identification No.)
9110 Red Branch Road, Columbia, Maryland 21045-2024
___________________________________________________
(Address of Principal Executive Offices)
(410) 997-2599
________________________________________________
(Issuer's Telephone Number, Including Area Code)
None
____________________________________________________
(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
________ ________
State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date:
34,427,507 as of July 26, 1999.
Traditional Small Business Disclosure Format (check one):
Yes No x
________ ________
<PAGE>
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.
IGENE Biotechnology, Inc.
(Registrant)
Date July 30, 1999 /s/Stephen F. Hiu
___________________________________
Stephen F. Hiu
President and Treasurer
(On behalf of the Registrant and as
Principal Financial Officer)
<PAGE>
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<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> JUN-30-1999
<CASH> 63,185
<SECURITIES> 0
<RECEIVABLES> 8,955
<ALLOWANCES> 0
<INVENTORY> 990,320
<CURRENT-ASSETS> 1,492,722
<PP&E> 574,674
<DEPRECIATION> 218,271
<TOTAL-ASSETS> 2,012,785
<CURRENT-LIABILITIES> 231,981
<BONDS> 8,498,420
<COMMON> 344,275
440,329
0
<OTHER-SE> (7,270,239)
<TOTAL-LIABILITY-AND-EQUITY> 2,012,785
<SALES> 0
<TOTAL-REVENUES> 3,174
<CGS> 119,845
<TOTAL-COSTS> 775,539
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 343,706
<INCOME-PRETAX> (892,210)
<INCOME-TAX> 0
<INCOME-CONTINUING> (892,210)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (892,210)
<EPS-BASIC> (0.04)
<EPS-DILUTED> (0.04)
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