10-Q/A

10-QA amended to add Exhibit 27.  It was not received with original 10-Q filing.




                                             SECURITIES AND EXCHANGE COMMISSION

                                                     Washington, D.C.  20549


                                                           FORM 10-QSB

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

For the quarterly period ended   June 30, 1996

                                                                              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 No. 0-6729

                                            FIRST MONTAUK FINANCIAL CORP.(Exact
name of registrant as specified in its charter)

        New Jersey
22-1737915
(State or other jurisdiction of                                (I.R.S. Employer
incorporation or organization)                           Identification Number)

Parkway 109 Office Center, 328 Newman Springs Rd., Red Bank, NJ    07701
(Address of principal executive offices)                       (Zip Code)

Registrant's telephone number, including area code:     (908) 842-4700


                 Former name,  former address and former fiscal year, if changed
since last report.

                  Indicate by check mark  whether the  Registrant  (l) 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
   8,000,979 Common Shares, no par value were outstanding as of August  8, 1996.
                                                   Page 1 of 14


                                                                              13

                                                           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.

                                                  FIRST MONTAUK FINANCIAL CORP.
                                                          (Registrant)



Dated: August 7, 1996
                                               By   /s/ William J. Kurinsky
                                                  William J. Kurinsky
                                                  Secretary/Treasurer
                                                  Chief Financial Officer and
                                                  Principal Accounting Officer



                                               By   /s/ Herbert Kurinsky
                                                  Herbert Kurinsky
                                                  President

EX-27

 


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<LEGEND>
     (Replace this text with the legend)

<CIK>  0000083125
<NAME> FIRST MONTAUK FINANCIAL CORP.
<MULTIPLIER>                                        1
       
                             
<PERIOD-TYPE>  3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> APR-01-1996
<PERIOD-END>                                   JUN-30-1996
<CASH>                                            991
<RECEIVABLES>                                   2,241
<SECURITIES-RESALE>                            0
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<INSTRUMENTS-OWNED>                             5,361
<PP&E>                                          1,020
<TOTAL-ASSETS>                                 10,349
<SHORT-TERM>                                   0
<PAYABLES>                                      3,312
<REPOS-SOLD>                                   0
<SECURITIES-LOANED>                            0
<INSTRUMENTS-SOLD>                              1,390
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<COMMON>                                        3,202
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<OTHER-SE>                                      1,321  
<TOTAL-LIABILITY-AND-EQUITY>                   10,349
<TRADING-REVENUE>                               3,237
<INTEREST-DIVIDENDS>                              260
<COMMISSIONS>                                   7,742
<INVESTMENT-BANKING-REVENUES>                     240
<FEE-REVENUE>                                 0
<INTEREST-EXPENSE>                                 23
<COMPENSATION>                                  8,115
<INCOME-PRETAX>                                 1,037
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<EXTRAORDINARY>                                0
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