UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  FORM 10-Q/A
                                Amendment No. 1

(MARK ONE)

[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

         FOR THE QUARTERLY PERIOD ENDED JANUARY 31, 2002

                                       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: 000-30362

                            CROSSROADS SYSTEMS, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

                  DELAWARE                               74-2846643
       (State or other jurisdiction of      (I.R.S. Employer Identification No.)
       incorporation or organization)

        8300 NORTH MOPAC EXPRESSWAY
                AUSTIN, TEXAS                              78759
  (Address of principal executive offices)               (Zip Code)

                                 (512) 349-0300
              (Registrant's telephone number, including area code)

    Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Sections 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. [X] Yes [ ] No

    As of March 1, 2002, the Registrant had 27,661,529 outstanding shares of
common stock, par value $0.001 per share.








                                   SIGNATURES




    Pursuant to the requirements of the Section 13 or 15(d) 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.



                                    CROSSROADS SYSTEMS, INC.


         March 18, 2002             /s/ Larry Sanders
         --------------             --------------------------------------------
             (Date)                 Larry Sanders
                                    Chief Executive Officer
                                    (Principal Executive Officer)



         March 18, 2002             /s/ Reagan Y. Sakai
         --------------             --------------------------------------------
             (Date)                 Reagan Y. Sakai
                                    Chief Financial Officer
                                    (Principal Financial and Accounting Officer)









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