U.S. SECURITIES AND EXCHANGE COMMISSION
                      Washington, D.C. 20549

                           FORM 10-Q/A

(Mark One)
[X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1996.
                                OR

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
          EXCHANGE ACT
For the transition period from ____________________ to ________________

Commission File Number: 0-18798

               IMAGING MANAGEMENT ASSOCIATES, INC.
(Exact Name of Small Business Issuer as Specified in Its Charter)

     COLORADO                                        84-1110294
(State or Other Jurisdiction of                     (I.R.S. Employer
 Incorporation or Organization)                      Identification No.)

                5143 West Woodmill Drive, Suite 23
                    Wilmington, Delaware 19808
             (Address of Principal Executive Offices)
                    Telephone: (302) 633-6900    
         (Issuer's Telephone Number, Including Area Code)

     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__

At May 20, 1996 there were 16,525,744 shares outstanding of the Registrant's
no par value Common Stock.

     Transitional Small Business Disclosure Format (check one):
     Yes            No    X   

               IMAGING MANAGEMENT ASSOCIATES, INC.


Date:  June 28, 1996      By:     /s/ Leonard F. Vernon
                                Leonard F. Vernon, Chairman of the
                                Board, President and Chief
                                Executive Officer

Date:  June, 28, 1996      By:  /s/  Joseph F. Rooney
                                     Joseph F. Rooney, Executive
                                 Vice President, Secretary, Treasurer
                                 Director and Principal and
                                 Accounting Officer