10-Q/A

                                                                              
                                   FORM 10-Q
                                Amendment No. 1

                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549


                  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) 
                    OF THE SECURITIES EXCHANGE ACT OF 1934


For Quarter Ended December 31, 1995       Commission File Number: 0-15245



                ELECTRONIC CLEARING HOUSE, INC.                               
            (Exact name of Registrant as specified in its charter)


                 NEVADA                           93-0946274           
     (State or other jurisdiction of           (I.R.S. Employer
      incorporation or organization)            Identification No.)



28001 DOROTHY DRIVE, AGOURA HILLS, CALIFORNIA                        91301    
 
(Address of principal executive offices)                        (Zip Code)


            Registrant's telephone number, including area code: (818) 706-8999


     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     .


     At December 31, 1995, 11,296,804 shares of common stock, .01 par value, of
the Registrant were outstanding.

Total Sequential Pages: 13         










                        ELECTRONIC CLEARING HOUSE, INC.
                          CONSOLIDATED BALANCE SHEET

                                    ASSETS

                                                     December 31    September
30
                                                        1995          1995
                                                     (Unaudited)     Audited
      . . . . . . . . . . . . . . . . . . . .                      
Current assets: 
    Cash and cash equivalents. . . . . . . . . .    $  306,000    $   97,000
    Restricted cash. . . . . . . . . . . . . . .       294,000       313,000
    Accounts receivable less allowance of $824,000     920,000       707,000
    Inventory. . . . . . . . . . . . . . . . . .       560,000       393,000
    Prepaid expenses and other assets. . . . . .        18,000        16,000
    Notes receivable from stockholders and 
    related parties. . . . . . . . . . . . . . .       195,000       195,000

         Total current assets. . . . . . . . . .     2,293,000     1,721,000

Noncurrent assets:
    Property and equipment, net .. . . . . . . .     1,516,000     1,430,000
    Real estate held for investment. . . . . . .       336,000       336,000
    Other assets, net. . . . . . . . . . . . . .       576,000       576,000
    
         . . . . . . . . . . . . . . . . . . .      $4,721,000    $4,063,000


                     LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
    Short-term borrowings and current portion of 
    long-term debt . . . . . . . . . . . . . .     $   821,000    $  831,000
    Accounts payable . . . . . . . . . . . . . .       655,000       245,000
    Accrued expenses . . . . . . . . . . . . . .     1,045,000       764,000

         Total current liabilities . . . . . . .     2,521,000     1,840,000

Long-term debt . . . . . . . . . . . . . . . . .       725,000       724,000

         Total liabilities . . . . . . . . . . .          3,246,000  2,564,000


Stockholders' equity:
    Convertible Preferred stock, $.01 par value, 5,000,000 shares authorized:
    Series "A", 2,500 shares issued and outstanding:                        
    Series "D", 1,562 shares issued and outstanding:                        
    Series "H", 23,511 shares issued and outstanding:                       
    Common Stock, $.01 par value, 20,000,000 shares authorized:
    11,296,804 and 11,046,804 shares issued; 11,290,563 
    and 11,040,563 shares outstanding. . . . . .       113,000       110,000
    Additional paid-in capital . . . . . . . . .    10,821,000    10,724,000
    Accumulated deficit  . . . . . . . . . . . .    (9,459,000)   (9,336,000)

         Total stockholders' equity  . . . . . .     1,475,000     1,499,000
    
         . . . . . . . . . . . . . . . . . . .      $4,721,000    $4,063,000



 
         See accompanying notes to Consolidated Financial Statements.




Items 1, 2, 3, 4 & 5

These items are not applicable.



Item 6.  Exhibits and Reports on Form 8-K

     (a)  Exhibits 

          Exhibit 27.  Article 5 of Regulation S-X.

     (b)  Reports on Form 8-K

          The following reports on Form 8-K were filed during the quarter ended
          December 31, 1995:

          Date of Filing Item Reported

          None.          None.          
               




                                  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.


                                         ELECTRONIC CLEARING HOUSE, INC.
                                              (Registrant)






Date: April 4, 1996                By:  \s\David Olert                        
                                        David Olert, Treasurer and  
                                        Chief Financial Officer
                                                      


     

 

EX-27

 

<ARTICLE> 5
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          SEP-30-1995
<PERIOD-END>                               DEC-31-1995
<CASH>                                             600
<SECURITIES>                                         0
<RECEIVABLES>                                    1,744
<ALLOWANCES>                                       824
<INVENTORY>                                        560
<CURRENT-ASSETS>                                 2,293
<PP&E>                                           3,433
<DEPRECIATION>                                   1,917
<TOTAL-ASSETS>                                   4,721
<CURRENT-LIABILITIES>                            2,521
<BONDS>                                            725
<PREFERRED-MANDATORY>                                0
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<TOTAL-LIABILITY-AND-EQUITY>                     4,721
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<CGS>                                              346
<TOTAL-COSTS>                                    2,229
<OTHER-EXPENSES>                                   722
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                  52
<INCOME-PRETAX>                                  (123)
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