EXSORBET INDUSTRIES INC
10-Q/A, 1997-05-15
HAZARDOUS WASTE MANAGEMENT
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-Q/A

                        --------------------------------
         (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, 1997

                                       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 0-25970

                         CONSOLIDATED ECO-SYSTEMS, INC.
             (Exact name of registrant as specified in its charter)

            IDAHO                                               82-0464589
(State or other jurisdiction of                              (I.R.S. Employer
  incorporation or organization)                            Identification No.)

                              6807 West 12th Street
                           Little Rock, Arkansas 72204

                    (Address of principal executive offices)

       Registrant's telephone number, including area code: (501) 664-7745

           Securities registered pursuant to Section 12(b) of the Act:

                                      None

           Securities registered pursuant to Section 12(g) of the Act:

      Title of Each Class                           Name on Each Market
                                                      on Which Listed

   Common Stock, $.001 par value                          NASDAQ

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 (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 |_|

As of May 5, 1997, 15,354,942 shares of the registrant's common stock were
outstanding.

The Registrant hereby amends this report to file Exhibit 27-Financial Data
Schedule. 

<PAGE>

                                     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.

                               CONSOLIDATED ECO-SYSTEMS, INC.

                            
                               By: /s/ Original Signed by James J. Connors, Jr.
                                   --------------------------------------------
                                   JAMES J. CONNORS, JR.
                                   President

Date:  May 15, 1997


                                        6


<TABLE> <S> <C>


<ARTICLE>                     5
<LEGEND>
This schedule contains summary financial information extracted from 
the financial statements contained in the registrant's quarterly report on
Form 10-Q for the period ended March 31, 1997.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                                          3-MOS
<FISCAL-YEAR-END>                                 DEC-31-1997
<PERIOD-START>                                    JAN-01-1997
<PERIOD-END>                                      MAR-31-1997
<CASH>                                               953,056
<SECURITIES>                                               0
<RECEIVABLES>                                      7,713,425
<ALLOWANCES>                                               0
<INVENTORY>                                          294,871
<CURRENT-ASSETS>                                   9,965,610
<PP&E>                                            24,079,246
<DEPRECIATION>                                             0
<TOTAL-ASSETS>                                    42,336,875
<CURRENT-LIABILITIES>                             16,531,258
<BONDS>                                            5,984,199
                                      0
                                                0
<COMMON>                                              15,114
<OTHER-SE>                                        19,806,304
<TOTAL-LIABILITY-AND-EQUITY>                      42,336,875
<SALES>                                            9,719,418
<TOTAL-REVENUES>                                   9,719,418
<CGS>                                              7,182,987
<TOTAL-COSTS>                                      7,182,987
<OTHER-EXPENSES>                                   2,295,578
<LOSS-PROVISION>                                           0
<INTEREST-EXPENSE>                                         0
<INCOME-PRETAX>                                      241,643
<INCOME-TAX>                                          65,244
<INCOME-CONTINUING>                                  176,399
<DISCONTINUED>                                             0
<EXTRAORDINARY>                                            0
<CHANGES>                                                  0
<NET-INCOME>                                         176,399
<EPS-PRIMARY>                                            .01
<EPS-DILUTED>                                              0
        


</TABLE>


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