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

                                   FORM 10-QSB
                                   (Mark One)

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

                  For the quarterly period ended June 30, 2000

                                       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 0-21178

                          UNITED TEXTILES & TOYS CORP.
                          ----------------------------
        (Exact Name of Small Business Issuer as Specified in its Charter)
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<CAPTION>

<S>                                                                         <C>
                  Delaware                                                  13-3626613
------------------------------------                           ----------------------------------
         (State or Other Jurisdiction of                      (IRS Employer Identification No.)
         Incorporation or Organization)
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               1385 Broadway, Suite 814, New York, New York 10018
                    (Address of Principal Executive Offices)

                                 (212) 391-1111
                (Issuer's Telephone Number, Including Area Code)

                                       N/A
              (Former Name, Former Address, and Former Fiscal Year,
                          if Changed Since Last Report)

     Check  whether  the Issuer (1) 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  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 of each of the issuer's classes of common equity
outstanding as of the latest practicable date: Common Stock, par value $.001 per
share: 4,550,234 shares outstanding as of July 31, 2000.
<PAGE>
                          UNITED TEXTILES & TOYS CORP.
           (A Subsidiary of Multimedia Concepts International, Inc.)

                                TABLE OF CONTENTS
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<CAPTION>

PART I.                      FINANCIAL INFORMATION                                                                   Page
                                                                                                                    Number

Item 1.             FINANCIAL STATEMENTS
<S>                           <C> <C>                                                                                   <C>
                    Balance Sheets as of  June 30, 2000 (unaudited)
                    and March 31, 2000.                                                                                 3-4

                    Statements of Operations (unaudited) for the Three Months Ended June 30, 2000 and
                    1999 (restated).                                                                                      5

                    Statements  of Cash Flows  (unaudited)  for the Three Months
                    Ended June 30, 2000 and 1999 (restated).                                                              6

                    Notes to Financial Statements                                                                       7-8

Item 2.             MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF  OPERATIONS             9-10

PART II.            OTHER INFORMATION                                                                                    11




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<PAGE>
                          UNITED TEXTILES & TOYS CORP.
           (A Subsidiary of Multimedia Concepts International, Inc.)

                                 BALANCE SHEETS
                     As of June 30, 2000 and March 31, 2000
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<CAPTION>

                                                                      June 30,   March 31,
                                                                       2000        2000

                                                           ASSETS

  CURRENT ASSETS:
<S>                                                                  <C>       <C>
  Cash ........................................................      $  712    $     750
  Prepaid expenses and other current assets ...................       5,689        5,689
  Investment in affiliated companies ..........................      44,708       44,708
                                                                  ---------    ---------
Total current assets ..........................................      51,109       51,147
                                                                  ---------    ---------

FURNITURE, FIXTURES AND EQUIPMENT
  Furniture, fixtures and equipment ...........................      38,152       38,152
  Accumulated depreciation on furniture, fixtures and equipment     (38,152)     (38,152)
                                                                  ---------    ---------

  Furniture, fixtures and equipment - Net
                                                                          0            0
                                                                  ---------    ---------

OTHER ASSETS
  Due from affiliates .........................................     130,213      152,513
  Deposits and other assets ...................................       7,220        7,220
                                                                  ---------    ---------

  Total other assets ..........................................     137,433      159,733
                                                                  ---------    ---------


          Total Assets ........................................   $ 188,542    $ 210,880
                                                                  =========    =========
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<PAGE>
                          UNITED TEXTILES & TOYS CORP.
           (A Subsidiary of Multimedia Concepts International, Inc.)

                                 BALANCE SHEETS
                     As of June 30, 2000 and March 31, 2000
<TABLE>
<CAPTION>

                                                              June 30, March 31,
                                                                       2000 2000
                                    ------------------------- ------------------


                                                    LIABILITIES AND STOCKHOLDERS' EQUITY

  CURRENT LIABILITIES:
<S>                                                                                         <C>
  Accounts payable ............................................................       $52,231    $    53,062

  Accrued expenses and other current liabilities ..............................        75,228         75,465

  Due to Officer ..............................................................        84,287         78,445

          Total current liabilities ...........................................       211,983        206,735
                                                                                   ----------    -----------

          Total liabilities ...................................................       211,983        206,735

STOCKHOLDERS' EQUITY:
Common stock, $.01 par value;  10,000,000 shares
 authorized, 4,550,234 shares issued and outstanding
 at March 31, 2000 and 4,550,234 shares issued and
 outstanding at March 31, 1999                                                          4,550          4,550
  Additional paid-in capital ..................................................     8,142,281      8,142,281
  Retained earnings (Deficit) .................................................    (8,170,272)    (8,142,686)
                                                                                   ----------    -----------


          Total stockholders' equity
                                                                                      (23,441)         4,145
                                                                                  -----------    -----------

          Total liabilities and stockholders' equity ..........................    $  188,542    $   210,880
                                                                                  ===========    ===========
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<PAGE>
                          UNITED TEXTILES & TOYS CORP.
           (A Subsidiary of Multimedia Concepts International, Inc.)

                             STATEMENT OF OPERATIONS
                                   (Unaudited)
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<CAPTION>

                                                                           Three Months Ended
                                                                          June 30,      June 30,
                                                                            2000          1999
                                                                                       (Restated)
                                                                                        (Note 4)

Operating expenses:
<S>                                                                    <C>            <C>
  Operating expenses ...............................................   $     27,689   $    37,355
                                                                       ------------   -----------
          Total operating expenses .................................         27,689        37,355
                                                                       ------------   -----------
Operating income (loss) ............................................        (27,689)      (37,355)

Other income:
          Interest and other income
                                                                                103          --
                                                                       ------------   -----------
Net loss ...........................................................   $    (27,586)  $   (37,355)
                                                                       ============   ===========


Calculation of basic and diluted common share and share equivalents:
  Basic and diluted loss per common share and share equivalent .....   $      (.01)         (.01)
                                                                       ============   ===========

Weighted average number of common shares outstanding ...............      4,550,234     4,550,234
                                                                       ============   ===========

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<PAGE>
                          UNITED TEXTILES & TOYS CORP.
           (A Subsidiary of Multimedia Concepts International, Inc.)

                             STATEMENT OF CASH FLOWS
                                   (Unaudited)
                           Increase (Decrease) in Cash
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<CAPTION>

                                                                                           Three Months Ended
                                                                                           June 30,    June 30,
                                                                                             2000        1999
                                                                                                      (Restated)
                                                                                                       (Note 4)
    CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                                       <C>          <C>
Net loss ..............................................................................   $(27,586)    $(37,355)
                                                                                          ---------    ---------
Adjustments  to reconcile  net loss to cash (used)  provided  for  operating
Activities: Changes in assets and liabilities:
   Increase (decrease) in prepaid expenses and other current assets                           --           (101)
   Increase (decrease) in accounts payable
                                                                                              (831)         --
   Increase (decrease) in accrued expenses and other liabilities                               237           13
                                                                                          ---------    ---------
          Total adjustments                                                                   (594)         (88)
                                                                                          ---------    ---------
          Net cash provided (used) by operating activities
                                                                                           (28,180)     (37,443)
                                                                                          ---------    ---------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Loans and exchanges                                                                       5,842       15,408
                                                                                          ---------    ---------
          Net cash (used for) investing activities
                                                                                             5,842       15,408
                                                                                          ---------    ---------

CASH FLOWS FROM FINANCING ACTIVITIES:
                                                                                            22,300       21,600
                                                                                          ---------    ---------
   Loans and advances - affiliates                                                          22,300       21,600
                                                                                          ---------    ---------
          Net cash provided by (used for) investing activities                                 (38)        (435)
                                                                                          ---------    ---------

NET INCREASE (DECREASE) IN CASH

Cash, beginning of period                                                                      750          658
                                                                                          ---------    ---------
Cash, end of period                                                                       $    712          223
                                                                                          =========    =========
Supplemental disclosure of cash flow information:
Interest paid                                                                             $     --     $     --
                                                                                          =========    =========
Taxes paid                                                                                $     --     $     --
                                                                                          =========    =========

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<PAGE>
                          UNITED TEXTILES & TOYS CORP.
            (A Subsidiary of Multimedia Concepts International, Inc.)

                          NOTES TO FINANCIAL STATEMENTS
                                  June 30, 2000
                                   (Unaudited)


NOTE 1 -          BASIS OF PRESENTATION:

                  The  accompanying  unaudited  financial  statements  have been
                  prepared in  accordance  with  generally  accepted  accounting
                  principles   for  interim   financial   information   and  the
                  instructions to Form 10-QSB. Accordingly,  they do not include
                  all  the  information  and  footnotes  required  by  generally
                  accepted  accounting  principles  for more complete  financial
                  statements.   In  the  opinion  of  management,   the  interim
                  financial   statements  include  all  adjustments   considered
                  necessary for a fair  presentation of the Company's  financial
                  position  and the  results  of its  operations  for the  three
                  months ended June 30, 2000 and are not necessarily  indicative
                  of the results to be expected  for the full fiscal  year.  For
                  further  information,  refer to the Company's Annual report on
                  Form 10-KSB for the fiscal year ended March 31, 2000, as filed
                  with the Securities and Exchange Commission.

NOTE 2 -          DESCRIPTION OF COMPANY:

                  United  Textiles & Toys Corp.  (the  "Company")  is a Delaware
                  corporation  which was  organized in March 1991 and  commenced
                  operations in October  1991.  The Company  formerly  designed,
                  manufactured,  and marketed a variety of lower priced  women's
                  dresses,  gowns, and separates (blouses,  camisoles,  jackets,
                  skirts, and pants) for special occasions and formal events. In
                  April 1998,  the Company ceased all operating  activities;  it
                  now operates solely as a holding company.

NOTE 3 -          INVESTMENT BY MULTIMEDIA CONCEPTS INTERNATIONAL, INC.:

                  On January 2, 1998, the Company issued 3,571,429 shares of its
                  common stock to  Multimedia,  a company of which the Company's
                  President is also President,  Chief Executive  Officer,  and a
                  Director.  The issuance of these  common  shares at a price of
                  $.28 per share ($.01 above the closing  price on December  31,
                  1997) represented payment for $1,000,000 loaned to the Company
                  by Multimedia.

                  As a result of this transaction,  Multimedia owns 78.5% of the
                  outstanding shares of common stock of the Company, effectively
                  making the Company a subsidiary of Multimedia.

                  On  January  20,  1998,   U.S.   Stores  acquired  1,465,000
                  shares  of  Multimedia's   common  stock.  U.S.  Stores  was
                  incorporated  on November 10, 1997. The Company's  president
                  is also  President and Director of U.S.  Stores.  After this
                  transaction,  U.S.  Stores held an  aggregate  of  1,868,000
                  shares  of  Multimedia's   common  stock,  or  63%,  of  the
                  outstanding   shares,   effectively   making   Multimedia  a
                  subsidiary of U.S. Stores.

<PAGE>
                          UNITED TEXTILES & TOYS CORP.
            (A Subsidiary of Multimedia Concepts International, Inc.)

                          NOTES TO FINANCIAL STATEMENTS
                                  June 30, 2000
                                   (Unaudited)

NOTE 3 -          INVESTMENT BY MULTIMEDIA CONCEPTS INTERNATIONAL, INC.:
                        (continued)

                  On February 28, 1998, American Telecom Corporation  ("American
                  Telecom")  acquired 100% of the  outstanding  common shares of
                  U.S.  Stores.  American  Telecom was  incorporated on July 18,
                  1997. The Company's President is also President and a Director
                  of American Telecom. After this transaction,  American Telecom
                  effectively obtained beneficial voting control of the Company.

                  In  April  1998,   American  Telecom   exchanged  all  of  its
                  outstanding  common  shares  with  American  Telecom,  PLC,  a
                  publicly   traded  company  in  Great   Britain.   After  this
                  transaction,  American Telecom effectively became a subsidiary
                  of  American  Telecom,  PLC.  Additionally,  as  part  of this
                  transaction,  American  Telecom,  PLC  acquired  100%  of  the
                  outstanding common shares of U.S. Stores,  thereby effectively
                  making U.S.  Stores a direct  subsidiary of American  Telecom,
                  PLC and the Company.

NOTE 4 -          RESTATEMENT OF AMOUNTS PREVIOUSLY REPORTED

                  The Financial  statements  for the three months ended June 30,
                  1999  contain  certain   restatements  of  amounts  previously
                  reported.

                  These   restatements   were   the   result of the  Company's
                  decision  to  deconsolidate  the  accounts of Play Co. as of
                  March 31, 2000. At March 31, 1999, the Company's  percentage
                  of ownership in Play Co. was 45.2%.  Although the Company at
                  that  date  owned  less than 51% of Play  Co.'s  outstanding
                  common stock,  the Company still  exercised  prerogative  of
                  control over Play Co. and  consolidated the accounts of Play
                  Co. into the Company.

                  At March 31, 2000,  the  Company's  percentage of ownership in
                  Play Co. was reduced to 21.69%.  Accordingly,  the Company has
                  elected to deconsolidate the accounts of Play Co., and account
                  for its  investment  in  Play  Co.  on the  equity  method  of
                  accounting.  Under the equity method, the original  investment
                  is recorded at cost, and is adjusted periodically to recognize
                  the investor's share of the earnings or losses of the investee
                  subsequent  to the date of  acquisition.  Under this method of
                  accounting,  the investment  generally cannot be reduced below
                  zero,  when the investee has operating  losses that exceed the
                  investment,  at which  point the use of the  equity  method is
                  suspended.

                  The Company will resume  accounting for the investment in Play
                  Co. under the equity method when Play co. subsequently reports
                  net  income  and  the  net  income   exceeds   the   Company's
                  accumulated  share of Play  Co.'s net  losses  not  recognized
                  during the period of discontinuance of the equity method.
<PAGE>
                          UNITED TEXTILES & TOYS CORP.
            (A Subsidiary of Multimedia Concepts International, Inc.)

                          NOTES TO FINANCIAL STATEMENTS
                                  June 30, 2000
                                   (Unaudited)

ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULT OF OPERATIONS

Results of Operations

         The Company is a Delaware corporation which was organized in March 1991
and commenced  operations in October 1991. In April 1998, the Company ceased all
operating  activities  and now  operates  solely  as a holding  company  for its
ownership in Play Co.

         Statements  contained in this report which are not historical facts may
be considered forward looking information with respect to plans, projections, or
future  performance  of the  Company as  defined  under the  Private  Securities
Litigation  Reform Act of 1995. These forward looking  statements are subject to
risks and  uncertainties  which could cause actual results to differ  materially
from those now projected.

For the three months ended June 30, 2000 compared to the three months ended June
30, 1999 (restated):

         Consolidated  operating  expenses  were  $27,689 as compared to $37,355
restated for the three months ended June 30, 1999.  This decrease of $9,666,  or
26%,  was  primarily  due  to  management's  commitment  to  reducing  operating
expenses.

         For the three  months  ended  June 30,  2000,  the  Company  reported a
consolidated net loss of $27,586, or basic loss per share of .01, as compared to
a restated net loss of $37,355,  or a basic loss per share of $.01 for the three
months June 30, 1999.  The weighted  average number of common shares used in the
computation of basic earnings per share was 4,550,234 for the three months ended
June 30, 2000 and June 30, 1999.

Liquidity and Capital Resources

         At June 30, 2000,  the Company  reported cash and cash  equivalents  of
$712 , working  capital of $160,874,  and  stockholders'  equity of $(23,441) as
compared  to cash and cash  equivalents  of $750,  working  capital  deficit  of
$155,588, and stockholders' equity of $4,145 at March 1, 2000.

Year 2000

         The Company in 1999  upgraded its computer  system by installing a year
2000 upgrade to its software.

         Although the Company has not  experienced  any problems  related to the
year 2000 issues,  the  possibility  still exists that such problems might arise
during the calendar year. However,  the effect, if any, of year 2000 problems on
the  Company's  results of  operations  cannot be  estimated  with any degree of
certainty if the Company or its affiliated  companies,  or service providers are
not fully compliant.

<PAGE>
ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULT OF OPERATIONS (CONTINUED)

              Trends Affecting Liquidity, Capital Resources and Operations

              Since the Company is  ostensibly a holding  company,  there are no
trends that will affect liquidity, capital resources, and operations.

<PAGE>
                                   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, on this 8th day of August 2000.


                                    UNITED TEXTILES & TOYS CORP.



                                    By:     /s/  Ilan Arbel
                                            ----------------------------
                                            Ilan Arbel
                                            President


                                    By:     /s/ Allean Goode
                                            ------------------
                                            Allean Goode
                                            Treasurer