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


                                   FORM 10-QSB
(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, 2002
                                        ------------------------------------

[ ]      TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

         For the transition period from               to
                                        --------------   ------------------

                         Commission File Number: 0-29247
                                                ---------

                           Global Teledata Corporation
     -----------------------------------------------------------------------
        (Exact name of Small Business Issuer as specified in its Charter)

            NEVADA                                       65-0693103
-----------------------------                ----------------------------------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)

                 18870 Still Lake Drive, Jupiter, Florida 33458
      ---------------------------------------------------------------------
                    (Address of principal executive offices)

                                 (561) 741-0410
                          -----------------------------
                           (Issuer's telephone number)

                                       N/A
               --------------------------------------------------
              (Former Name, former address and former fiscal year,
                         if changed since last Report.)

         Check mark whether the Issuer (1) has filed all reports required to be
filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 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 X No

                      APPLICABLE ONLY TO CORPORATE ISSUERS

         State the number of shares outstanding of each of the issuer's classes
of common equity, as of the latest practicable date: 9,975,354 Common Stock as
of March 31, 2002.


<PAGE>

                           GLOBAL TELEDATA CORPORATION

                                      INDEX


PART I.           FINANCIAL INFORMATION
                  ---------------------

Item 1.           Financial Statements.

                  Balance Sheets as of March 31, 2002 (unaudited) and December
                  31, 2001.

                  Statements of Operations for the Three Months Ended March 31,
                  2002 and 2001, and for the Period from Inception (May 15,
                  1995) to March 31, 2002 (unaudited).

                  Statements of Stockholders' Equity (Deficit) for the Period
                  from Inception (May 15, 1995) to March 31, 2002 (unaudited).

                  Statements of Cash Flows for the Three Months Ended March 31,
                  2002 and 2001, and for the Period from Inception (May 15,
                  1995) to March 31, 2002 (unaudited).

                  Notes to Financial Statements.

Item 2.           Management's Discussion and Analysis or Plan of Operations.

PART II.          OTHER INFORMATION
                  -----------------

Item 6.           Exhibits and Reports on Form 8-K.



                                        1

<PAGE>



PART I.           FINANCIAL INFORMATION
                  ---------------------

ITEM 1.           FINANCIAL STATEMENTS (UNAUDITED)

Basis of Presentation
---------------------

         The accompanying unaudited financial statements of Global Teledata
Corporation (the "Company") have been prepared in accordance with generally
accepted accounting principles for interim financial information and with the
instructions to Form 10-Q and Regulation S-B. Accordingly, they do not include
all of the information and footnotes required by generally accepted accounting
principles for complete financial statements. In the opinion of management, all
adjustments considered necessary for a fair presentation (consisting of normal
recurring accruals) have been included. The preparation of financial statements
in conformity with generally accepted accounting principles requires management
to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those estimates.
Operating results for the three month period ended March 31, 2002 are not
necessarily indicative of the results that may be expected for the year ending
December 31, 2002. For further information, refer to the financial statements
and footnotes for the year ended December 31, 2001 found in the Company's Form
10-KSB.




                                       2
<PAGE>

                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                                 Balance Sheets



                                     ASSETS

                                                         March 31,  December 31,
                                                           2002          2001
                                                         ---------     ---------
                                                        (Unaudited)
CURRENT ASSETS

   Cash$                                                        --     $      --

     Total Current Assets                                       --            --
                                                         ---------     ---------

     TOTAL ASSETS                                        $      --     $      --
                                                         =========     =========


                 LIABILITIES AND STOCKHOLDERS" EQUITY (DEFICIT)
                 ----------------------------------------------

CURRENT LIABILITIES

   Accounts payable                                      $      --     $      --
                                                         ---------     ---------

     Total Liabilities                                          --            --
                                                         ---------     ---------

STOCKHOLDERS" EQUITY (DEFICIT)

   Common stock; authorized 25,000,000 common shares
     at $0.001 par value; 9,975,354 shares
     issued and outstanding                                9,975         9,975
   Additional paid-in capital                             55,903        52,475
   Deficit accumulated during development stage          (65,878)      (62,450)
                                                       ---------     ---------

     Total Stockholders" Equity (Deficit)                     --            --
                                                       ---------     ---------

     TOTAL LIABILITIES AND STOCKHOLDERS"
      EQUITY (DEFICIT)                                 $      --     $      --
                                                       =========     =========

    The accompanying notes are an integral part of these financial statements



                                       3
<PAGE>

                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                            Statements of Operations
                                   (Unaudited)



                                                                    From
                                         For the                Inception on
                                   Three Months Ended              May 15,
                                        March 31,               1995 through
                               --------------------------         March 31,
                                  2002             2001             2002
                               ---------        ---------        ---------

REVENUES                       $      --        $      --        $      --
                               ---------        ---------        ---------

EXPENSES                          (3,428)          (6,033)         (65,878)
                               ---------        ---------        ---------

NET LOSS                       $  (3,428)       $  (6,033)       $ (65,878)
                               =========        =========        =========

BASIC LOSS PER SHARE           $   (0.00)       $   (0.00)

WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING             9,975,354        9,975,354
                               =========        =========


    The accompanying notes are an integral part of these financial statements





                                       4
<PAGE>

<TABLE>
<CAPTION>

                                    GLOBAL TELEDATA CORPORATION
                                   (A Development Stage Company)
                           Statements of Stockholders' Equity (Deficit)


                                                                                        Deficit
                                                                                     Accumulated
                                              Common Stock             Additional     During the
                                       --------------------------        Paid-in     Development
                                         Shares          Amount          Capital         Stage
                                       ----------      ----------      ----------     ----------

<S>             <C>                   <C>             <C>             <C>            <C>
Balance at inception                           --      $       --      $       --     $       --

Issuance of common stock at
   inception at $0.001 per share        1,975,354           1,975              --             --

Net loss from inception to
   December 31, 1995                           --              --              --         (2,033)
                                       ----------      ----------      ----------     ----------

Balance, December 31, 1995              1,975,354           1,975              --         (2,033)

Common stock issued for
   acquisition of Marine Way, Inc.
   stock at $0.001 per share            8,000,000           8,000              --             --

Expenses paid by shareholder
   on behalf of the Company                    --              --             780             --

Net loss for the year ended
   December 31, 1996                           --              --              --         (8,880)
                                       ----------      ----------      ----------     ----------

Balance, December 31, 1996              9,975,354           9,975             780        (10,913)

Expenses paid by shareholder
   on behalf of the Company                    --              --           1,000             --

Net loss for the year ended
   December 31, 1997                           --              --              --         (1,100)
                                       ----------      ----------      ----------     ----------

Balance, December 31, 1997              9,975,354           9,975           1,780        (12,013)

Cancellation of common stock           (6,500,000)         (6,500)          6,500             --

Expenses paid by shareholder
   on behalf of the Company                    --              --             959             --

Net loss for the year ended
   December 31, 1998                           --              --              --           (701)
                                       ----------      ----------      ----------     ----------

Balance, December 31, 1998              3,475,354      $    3,475      $    9,239     $  (12,714)
                                       ----------      ----------      ----------     ----------


             The accompanying notes are an integral part of these financial statements
</TABLE>


                                       5
<PAGE>

<TABLE>
<CAPTION>
                                            GLOBAL TELEDATA CORPORATION
                                           (A Development Stage Company)
                             Statements of Stockholders' Equity (Deficit) (Continued)

                                                                                   Deficit
                                                                                 Accumulated
                                              Common Stock          Additional    During the
                                        -----------------------      Paid-in     Development
                                          Shares        Amount       Capital        Stage
                                        ---------     ---------    -----------  --------------

<S>                                     <C>           <C>           <C>           <C>
Balance, December 31, 1998              3,475,354     $   3,475     $   9,239     $ (12,714)

Expenses paid by shareholder on
   behalf of the Company                       --            --         3,442            --

Common stock issued for
   services valued at $0.001
   per share                            6,500,000         6,500            --            --

Net loss for the year ended
   December 31, 1999                           --            --            --       (12,748)
                                        ---------     ---------     ---------     ---------

Balance, December 31, 1999              9,975,354         9,975        12,681       (25,462)

Expenses paid by shareholder
   on behalf of the Company                    --            --        17,499            --

Net loss for the year ended
   December 31, 2000                           --            --            --       (15,977)
                                        ---------     ---------     ---------     ---------

Balance, December 31, 2000              9,975,354         9,975        30,180       (41,439)
0
Expenses paid by shareholder
   on behalf of the Company                    --            --        22,295            --

Net loss for the year ended
   December 31, 2001                           --            --            --       (21,011)
                                        ---------     ---------     ---------     ---------

Balance, December 31, 2001              9,975,354         9,975        52,475       (62,450)

Expenses paid by shareholder
   on behalf of the Company
   (unaudited)                                 --            --         3,428            --

Net loss for the three months ended
   March 31, 2002 (unaudited)                  --            --            --        (3,428)
                                        ---------     ---------     ---------     ---------

Balance, March 31, 2002 (unaudited)     9,975,354     $   9,975     $  55,903     $ (65,878)
                                        =========     =========     =========     =========


             The accompanying notes are an integral part of these financial statements
</TABLE>


                                       6
<PAGE>

                                    GLOBAL TELEDATA CORPORATION
                                   (A Development Stage Company)
                                     Statements of Cash Flows
                                            (Unaudited)

<TABLE>
<CAPTION>
                                                                                    From
                                                            For The             Inception on
                                                       Three Months Ended       May 15, 1995
                                                            March 31,              Through
                                                    -----------------------       March 31,
                                                       2002          2001          2002
                                                    ---------     ---------     ---------
CASH FLOWS FROM OPERATING
ACTIVITIES

<S>                                                 <C>           <C>           <C>
   Net loss                                         $  (3,428)    $  (6,033)    $ (65,878)
   Adjustments to reconcile net loss to
   cash used by operations:
     Common stock issued for stock                         --            --        14,500
     Amortization                                          --            --           500
   Changes in operating assets and liabilities:
     Increase in other assets                              --            --          (500)
     Increase (decrease) in accounts payable               --           787            --
                                                    ---------     ---------     ---------

       Net Cash Used by Operating Activities           (3,428)       (5,246)      (51,378)
                                                    ---------     ---------     ---------

CASH FLOWS FROM INVESTING
ACTIVITIES                                                 --            --            --
                                                    ---------     ---------     ---------

CASH FLOWS FROM FINANCING
ACTIVITIES

   Expenses paid by shareholder                         3,428         5,246        49,403
   Issuance of common stock                                --            --         1,975
                                                    ---------     ---------     ---------

       Net Cash Provided by Financing
       Activities                                       3,428         5,246        51,378
                                                    ---------     ---------     ---------

NET INCREASE IN CASH                                       --            --            --

CASH AT BEGINNING OF PERIOD                                --            --            --
                                                    ---------     ---------     ---------

CASH AT END OF PERIOD                               $      --     $      --     $      --
                                                    =========     =========     =========

CASH PAID DURING THE PERIOD FOR:

   Interest                                         $      --     $      --     $      --
   Income taxes                                     $      --     $      --     $      --

NON-CASH FINANCING ACTIVITIES

   Common stock issued for stock                    $      --     $      --     $  14,500

             The accompanying notes are an integral part of these financial statements
</TABLE>


                                       7
<PAGE>


                           GLOBAL TELEDATA CORPORATION
                          (A Development Stage Company)
                        Notes to the Financial Statements
                      March 31, 2002 and December 31, 2001


NOTE 1 -      CONDENSED FINANCIAL STATEMENTS

              The accompanying financial statements have been prepared by the
              Company without audit. In the opinion of management, all
              adjustments (which include only normal recurring adjustments)
              necessary to present fairly the financial position, results of
              operations and cash flows at March 31, 2002 and 2001 and for all
              periods presented have been made.

              Certain information and footnote disclosures normally included in
              financial statements prepared in accordance with generally
              accepted accounting principles have been condensed or omitted. It
              is suggested that these condensed financial statements be read in
              conjunction with the financial statements and notes thereto
              included in the Company"s December 31, 2001 audited financial
              statements. The results of operations for the period ended March
              31, 2002 and 2001 are not necessarily indicative of the operating
              results for the full years.

NOTE 2 -      GOING CONCERN

              The Company"s financial statements are prepared using generally
              accepted accounting principles applicable to a going concern which
              contemplates the realization of assets and liquidation of
              liabilities in the normal course of business. The Company has not
              yet established an ongoing source of revenues sufficient to cover
              its operating costs and allow it to continue as a going concern.
              The ability of the Company to continue as a going concern is
              dependent on the Company obtaining adequate capital to fund
              operating losses until it becomes profitable. If the Company is
              unable to obtain adequate capital, it could be forced to cease
              operations.

              In order to continue as a going concern, develop a reliable source
              of revenues, and achieve a profitable level of operations the
              Company will need, among other things, additional capital
              resources. Management"s plans to continue as a going concern
              include raising additional capital through sales of common stock.
              However, management cannot provide any assurances that the Company
              will be successful in accomplishing any of its plans.

              The ability of the Company to continue as a going concern is
              dependent upon its ability to successfully accomplish the plans
              described in the preceding paragraph and eventually secure other
              sources of financing and attain profitable operations. The
              accompanying financial statements do not include any adjustments
              that might be necessary if the Company is unable to continue as a
              going concern.


                                       8
<PAGE>

ITEM 2.           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                  OR PLAN OF OPERATIONS

General
-------

         Global Teledata Corporation was incorporated on May 15, 1995 as a
Nevada Corporation under the name Television Networking, Inc. Global was
incorporated for the purpose of entering the video production business. It
ceased operations in 1996 and, since that time, has been inactive. In November
1998, in connection with a merger with another entity that was later rescinded
by both parties, Global amended its articles of incorporation to change its name
to Global Teledata Corporation.

         We are authorized to issue 25,000,000 shares of common stock, $0.001
par value, of which 9,975,354 shares were issued and outstanding as of March 31,
2002. We are authorized to issue 10,000,000 shares of preferred stock, $0.001
par value, none of which are issued and outstanding. Each holder of the common
stock shall be entitled to one vote for each share held. The preferred stock may
be divided into series or classes by us upon the approval of a majority vote of
our directors.

         Other than issuing shares to shareholders, we have not commenced any
operational activities. As such, we can be defined as a "shell" company, whose
sole purpose at this



                                       9
<PAGE>



time is to locate and consummate a merger or acquisition with a private entity.
Our directors have elected to commence implementation of our principal business
purpose. Our offices are located at 18870 Still Lake Drive, Jupiter, Florida
33458.

         The proposed business activities described in this report classify us
as a blank check company. Many states have enacted statutes, rules and
regulations limiting the sale of securities of blank check companies in their
respective jurisdictions. Marine Way, Inc., holds 6,500,000 of our shares. We do
not intend to undertake any other offering of our securities, either debt or
equity, until such time as we have successfully implemented our business plan.

Results of Operations
---------------------

         Three months ended March 31, 2002 compared to three months ended March
31, 2001.

Revenues
--------

         The Company currently has no established source of revenues. The
revenues for the three months ended March 31, 2002, and the three months ended
March 31, 2001 were $0.00.

General and Administrative Expenses
-----------------------------------

         General and administrative expenses for the three months ended March
31, 2002 were $3,428 as compared to $6,033 for the three months ended March 31,
2001, representing a decrease of $2,605. The overall decrease in general and
administrative expenses was due to a decrease in business development costs
including professional fees and consulting fees.

Net Loss
--------

         As a result of the above, net loss for the three months ended March 31,
2002 was $3,428 as compared to the net loss of $6,033 for the three months ended
March 31, 2001, representing a decrease of $2,605.

Liquidity and Capital Resources
-------------------------------

         To fund working capital requirements for the three months ended March
31, 2002, the Company utilized cash reserves based upon additional paid-in
capital from a shareholder in the amount of $3,428.




                                       10
<PAGE>

Cautionary Statement Regarding Forward-Looking Statements
---------------------------------------------------------

         Certain statements contained in this Section and elsewhere in this
report regarding matters that are not historical facts are forward-looking
statements. Because such forward- looking statements include risks and
uncertainties, actual results may differ materially from those expressed or
implied by such forward-looking statements. All statements which address
operating performance, events or developments that management expects or
anticipates to incur in the future, including statements relating to sales and
earnings growth or statements expressing general optimism about future operating
results, are forward- looking statements. The forward-looking statements are
based on management's current views and assumptions regarding future events and
operating performance. Many factors could cause actual results to differ
materially from estimates contained in management's forward-looking statements.
The differences may be caused by a variety of factors, including, but not
limited to, adverse economic conditions, competitive pressures, inadequate
capital, unexpected costs, lower revenues, net income and forecasts, the
possibility of fluctuation and volatility of the Company's operating results and
financial condition, inability to carry out marketing and sales plans and loss
of key executives, among other things.

PART II.          OTHER INFORMATION
                  -----------------

ITEM 6.           EXHIBITS AND REPORTS ON FORM 8-K

         (a)      Exhibits required by Item 601 of Regulation S-B

                  None.

         (b)      Reports on Form 8-K

                  None.




                                       11
<PAGE>



                                    SIGNATURE
                                    ---------


         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 as duly authorized officers of the Registrant.


                                   Global Teledata Corporation,
                                   a Nevada corporation



                                   By: /s/ Alan Pavsner
                                      --------------------------------------
                                        Alan Pavsner, President and Director
                                        (Principal Executive, Financial and
                                        Accounting Officer)



                                   By: /s/ Mary Francis Pavsner
                                      --------------------------------------
                                        Mary Francis Pavsner, Secretary




DATED: May 3, 2002



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