U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-QSB

(Mark One)

[X] QUARTERLY REPORT UNDER SECTION 13 or 15 (d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended January 31, 2001

[ ] TRANSITION REPORT UNDER SECTION 13 or 15 (d) OF THE

EXCHANGE ACT

For the transition period from _____ to _____

Commission File No. 0-8289

THE ROVAC CORPORATION

(Exact name of small business issuer as

specified in its charter)

Delaware 59-1461320

(State or other jurisdiction (I.R.S. Employer

of incorporation or organization) Identification No.)

1030 Stafford Street, Rochdale, MA 01542

(Address of principal executive offices)

(508) 892-1121

(Issuer's telephone number)

Check whether the issuer (1) has 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

APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date, February 28, 2001, was 39,958,073 shares of Common Stock, $0.01 par value.

THE ROVAC CORPORATION
Item 1 - Financial Information
Condensed Balance Sheets
		January 31, 2001	July 31, 2000
		(Unaudited)	*
	Assets
Current Assets
Accounts receivable		851	700
Loans receivable - officer		5,314	23,692
Inventory		8,367	8,427
	Total current assets	14,532	32,819
Property and equipment
Machinery and equipment		72,112	72,112
Furniture and fixtures		32,335	32,335
Leasehold improvements		28,121	28,121
		132,568	132,568
Less accumulated depreciation		127,704	126,214
	Net property and equipment	4,864	6,354
Patents and patent applications, net of
Accumulated amortization of $20,768
($18,956 at July 31, 2000)		71,775	67,303
	Total assets	91,171	106,476
See accompanying notes to financial statements.

THE ROVAC CORPORATION
Item 1 - Financial Information
Condensed Balance Sheets
		January 31, 2001	July 31, 2000
		(Unaudited)	*
Liabilities and Stockholders' Deficiency
Current liabilities
Cash overdraft		2,433	1,766
Notes payable - officer		666,615	666,615
Notes payable - other		-	3,250
Accounts payable:
	Trade	117,069	105,850
	Parent company	800,820	813,500
Accrued expenses		1,083,021	1,036,842
Advanced revenues		44,156	35,344
	Total current liabilities	2,714,114	2,663,167
Stockholders' deficiency
8% nonvoting preferred stock, $100 par		1,200,000	1,200,000
value. Authorized 25,000 shares,
12,000 shares issued.
Common stock, $.01 par value.		399,581	399,581
Authorized 40,000,000 shares, issued and
outstanding 39,958,073 shares
Common stock issuable, $.01 par value,		250	250
25,000 shares
Additional paid-in capital		8,269,432	8,269,432
Accumulated deficit		(12,492,206)	(12,425,954)
	Total stockholders' deficit	(2,622,943)	(2,556,691)
	Total liabilities and stockholders' deficit	91,171	106,476
See accompanying notes to condensed financial statements.

THE ROVAC CORPORATION
Statement of Operations
(Unaudited)
			Three		months		Six		months
			ended January 31				ended January 31
			2001		2000		2001		2000
Revenues:
Contract Income			26,531		9,000		53,063		18,000
Product			151		2,469		333		9,897
		Total revenues	26,682		11,469		53,395		27,897
Operating expenses:
Cost of sales			4,068		5,136		7,879		10,677
General and administrative			30,761		27,349		58,838		52,582
Research and development			4,907		1,289		9,343		4,196
Depreciation and amortization			1,651		1,725		3,302		3,450
		Total operating expenses	41,387		35,499		79,362		70,905
		Operating income (loss)	(14,705)		(24,030)		(25,967)		(43,008)
Other income (expense)
Interest expense			(20,167)		(19,249)		(40,285)		(38,749)
Net Loss			(34,872)		(43,279)		(66,252)		(81,757)
Net loss per share of
common stock			(0.00)		(0.00)		(0.00)		(0.00)
Weighted average number of
common shares outstanding
and issuable			39,983,073		39,983,073		39,983,073		39,983,073
See accompanying notes to condensed financial statements.
THE ROVAC CORPORATION
Statement of Cash Flows
(Unaudited)
				Six		Months		Ended
				January 31,				January 31,
				2001				2000
Cash flows from operating activities:
Net loss				(66,252)				(81,757)
Adjustments to reconcile net loss to net
cash used in operating activities:
Depreciation and amortization				3,302				3,450
(Increase) decrease in assets:
Accounts and loan receivable				(151)				8,859
Inventory				60				(1,717)
Increase (decrease) in liabilities:
Accounts payable				11,219				(2,331)
Accrued expenses				46,179				50,669
Advance revenues				8,812				-
	Total adjustments			69,421				58,930
	Net cash provided by (used in)
	operating activities:			3,169				(22,827)
Cash flows from investing activities:
Costs of patents and patent applications				(6,284)				(620)
Acquisition of equipment				-				(2,053)
	Net cash used in investing activities			(6,284)				(2,673)
Cash flows from financing activities:
Proceeds (payments to)from officer loans				18,378				1,099
Proceeds (payments to) from notes payable - other				(3,250)				-
Advance to (from) parent				(12,680)				18,253
	Net cash provided by financing activities			2,448				19,352
Net change in cash				(667)				(6,148)
Cash (cash overdraft), beginning of period				(1,766)				(1,587)
Cash (cash overdraft), end of period				(2,433)				(7,735)
See accompanying notes to condensed financial statements.

PART 1 - FINANCIAL INFORMATION

Item 1. Financial Statements.

See attached

Item 2. Management's discussion and Analysis or Plan of Operation.

(a) Liquidity and Capital Resources

During the quarter, the company earned revenues in accordance with the Company's current NIBCO Agreement. The current NIBCO Agreement requires minimal payments, which increase during the contract period, which expires on April 30, 2004. The Company's production plans are intended to meet NIBCO's requirements, which are expected to increase during the calendar year 2001.

Additionally, the Company is currently evaluating how to proceed with its CinchLockâ product introduction into the metals markets. One option under consideration would be to secure additional licenses for metal market applications. The second option under consideration would be for the Company to internally develop, produce, market and distribute a product line of CinchLockâ metal market repair couplings.

The Company intends to receive additional income pursuant to its NIBCO Agreement and also intends to receive funding from its parent company in order to meet its cash requirements for the upcoming fiscal year. However, there can be no assurance that such sources of funding will continue.

(b) Results of Operations for the quarter ended January 31, 2001

The operating loss was $14,705 for the quarter ending January 31, 2001 as compared to $24,030 for the corresponding quarter in 2000. The decrease in the operating loss is mainly attributable to the NIBCO Contract Income, which began in May 2000.

(c) Results of Operations for the six-month period ended January 31, 2001

The operating loss was $25,967 for the six-month period ending January 31, 2001 as compared to $43,008 for the corresponding six-month period in 2000. The decrease in the operating loss is mainly attributable to the NIBCO Contract Income, which began in May 2000.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

None.

Item 2. Changes in Securities.

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Submission of Matters to a Vote of Security Holders.

None.

Item 5. Other Information.

None.

Item 6. Exhibits and Reports of Form 8-K.

None.

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

THE ROVAC CORPORATION

(Registrant)

Date: March 15, 2001

Raymond E. Shea, Jr.

Vice President and Treasurer