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

                          NOTIFICATION OF LATE FILING

                                  Form 12b-25

Sec. File Number 0-4186             Cusip Number
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                                  [Check One]
[X]Form 10-K [ ]Form 20-F [ ]Form 11-K [ ]Form 10-Q [ ]Form N-SAR

                     For the Period Ended: December 31, 1996
                                           ------------------

[ ]Transition Report on Form 10-K
[ ]Transition Report on Form 20-F
[ ]Transition Report on Form 11-K
[ ]Transition Report on Form 10-Q
[ ]Transition Report on Form N-SAR

For the Transition Period Ended_________________________

Read Instructions [on back page] Before Preparing Form.
Please Print or Type
Nothing in this form shall be constructed to imply that the Commission has
verified any information contained herein
If the notification relates to a portion of the filing checked above, identify
the Item[s] to which the notification relates:

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PART I - REGISTRANT INFORMATION

Full Name of Registrant:  Consolidated Technology Group Ltd.
Former Name if Applicable:
Address of Principal Executive Office [Street and Number]:  160 Broadway, #901
City, State and Zip Code:  New York, NY 10038

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Part II - Rules 12b-25[b] and [c]

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25[b], the following should
be completed.
[Check box if appropriate]

[X]  [a] The reasons described in reasonable detail in Part III of this form    
         could not be eliminated without unreasonable effort or expenses;
[X]  [b] The subject annual report, semi-annual report, transition report on    
         Form 10-K, Form 2-F, Form 11-K, Form N-SAR, or portion thereof, will be
         filed on or before the fifteenth calendar day following the prescribed
         due date; or the subject quarterly report or transition report on Form
         10-Q, or portion thereof will be filed on or before the fifth calendar
         day following the prescribed due date; and
     [c] The accountant's statement or other exhibit required by Rule 12b-25[c] 
         has been attached if applicable.
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Part III - Narrative

State below in reasonable detail the reasons why the Form 10-K, 20-F, 11-K, 10-Q
or N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period. [Attach Extra Sheet if Needed]

On December 20, 1996, the Registrant consumated a reverse acquisition of one of
its subsidiaries into a publicly held company.  The related disclosure and
accounting issues could not be completed in the prescribed time period without
unreasonable effort or expense.

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Part IV - Other Information

     [1] Name and telephone number of person to contact in regard to this       
         notification:

         A. Lee Wingeier       703          922-6183
         ---------------       ---          --------
              [Name]       [Area Code]   [Telephone No.]

     [2] Have all other periodic reports required under Section 13 or 15[d] of  
         the Securities and Exchange Act of 1934 or Section 30 of the Investment
         Company Act of 1940 during the preceding 12 months [or for such shorter
         period that the registrant was required to file such reports] been
         filed?  If answer is no, identify report[s].        [X]Yes     [ ]No

     [3] Is it anticipated that any significant change in results of operations
         from the corresponding period for the last fiscal year will be
         reflected by the earnings statements to be included in the subject
         report or portion thereof?                          [ ]Yes     [X]No

 If so, attach an explanation of the anticipated change, both
 narratively and quantitatively, and, if appropriate, state the reasons
 why a reasonable estimate of the results cannot be made.
 
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                    Consolidated Technology Group Ltd.
               [Name of Registrant as Specified in Charter]

has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.

Date: March 28, 1997            By:    /S/
      --------------                   ---------------------
                                       George W. Mahoney
                                       (Chief Financial Officer) 


Instruction: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative.  The name and title of the person
signing the form shall be typed or printed beneath the signature.  If the
statement is signed on behalf of the registrant by an authorized representative
[other than an executive officer], evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.


                                  ATTENTION
       Intentional misstatements or omissions of fact constitute
        Federal Criminal Violation [SEE 18 U.S.C.1001]

                          GENERAL INSTRUCTIONS

1.     This form is required by Rule 12b-25[17 CFR 240.12b-25] of the General
       Rules and Regulations under the Securities Exchange Act of 1934.

2.     One signed original and four conformed copies of this form and amendments
       thereto must be completed and filed with the Securities and Exchange
       Commission, Washington, D.C.  20549, in accordance with Rule 0-3 of the
       General Rules and Regulations under the Act.  The information contained
       in or filed with the form will be made a matter of the public record in
       the Commission files.

3.     A manually signed copy of the form and amendments thereto shall be filed
       with each national securities exchange on which any class of securities
       of the registrant is registered.

4.     Amendments to the notifications must also be filed on form 12b-25, but
       need no restate information that has been correctly furnished.  The form
       shall be clearly identified as an amendment notification.