<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                              --------------------
                                    FORM 10-Q

(X)  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934 FOR QUARTERLY PERIOD ENDING JUNE 30, 2001

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

Commission File Number 001-15863

                                Medium4.com, Inc.
                                -----------------
             (Exact name of registrant as specified in its charter)

             Delaware                                 13-4037641
             --------                                 ----------
(State or other jurisdiction of           (I.R.S. Employer Identification No.)
incorporation or organization)

           1220 Collins Avenue, Suite 100, Miami Beach, Florida 33139
          ------------------------------------------------------------
                    (Address of principal executive offices)

                                 (305) 538-0955
                                  -------------
              (Registrant's telephone number, including area code)

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 filing requirements
for the past 90 days.

                               Yes /X/   No / /


The number of shares of Common Stock, par value $ .01 per share, outstanding as
of August 17, 2001, is 17,392,196 shares.

<PAGE>

                                MEDIUM4.COM, INC.
                                    CONTENTS
--------------------------------------------------------------------------------

                                                                           PAGE


UNAUDITED FINANCIAL STATEMENTS

  Balance Sheets as of June 30, 2001 and December 31, 2000                 F-2

  Statements of Operations - For the Three Months Ended
    June 30, 2001 and 2000                                                 F-3

  Statements of Operations - For the Six Months Ended
    June 30, 2001 and 2000                                                 F-4

  Statements of Cash Flows - For the Six Months Ended
    June 30, 2001 and 2000                                                 F-5

  Statements of Stockholder's Equity - For the Six Months
    Ended June 30, 2001                                                    F-6

NOTES TO FINANCIAL STATEMENTS                                              F-7



                                      F-1
<Page>

                       MEDIUM4.COM, INC. AND SUBSIDIARIES
                        (A Development Stage Enterprise)

                           CONSOLIDATED BALANCE SHEET

<Table>
<Caption>

                                                                         June 30,         December 31,
                                                                           2001               2000
                                                                        ------------      ------------
                                                                         (unaudited)        (audited)
<S>                                                                     <C>               <C>
                                             ASSETS

CURRENT ASSETS
  Cash and cash equivalents                                             $     54,558      $     50,462
  Marketable securities                                                          220               220
  Other current assets                                                         3,813            14,137
                                                                        ------------      ------------
     Total Current Assets                                                     58,591            64,819

INVESTMENT IN AFFILIATE                                                      159,000           159,000

LEASEHOLD IMPROVEMENTS AND EQUIPMENT, NET                                    473,603           686,582

SOFTWARE, NET                                                                653,913           890,967

OTHER ASSETS                                                                 331,599           330,659
                                                                        ------------      ------------
                                                                        $  1,676,705      $  2,132,027
                                                                        ============      ============


                              LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Accounts payable                                                      $    410,159      $    514,639
  Accrued expenses                                                           353,498           353,498
                                                                        ------------      ------------
     Total Current Liabilities                                               763,657           868,137

LONG-TERM LIABILITIES:
  Loan payable - officer                                                     256,343            50,000
  Loan payable - related party                                               100,000                --
  Deferred revenue                                                           649,000           785,000
                                                                        ------------      ------------
     Total Long-Term Liabilities                                           1,005,343           835,000

STOCKHOLDERS' EQUITY
  Preferred stock $.01 par value 5,000 shares authorized
     issued and outstanding -0- shares                                            --                --
  Common stock, $.01 par value; 30,000,000 shares authorized,
     17,392,196 and 12,266,196 issued and outstanding, respectively          173,922           122,662
Paid in capital                                                           15,765,383        14,998,143
Deficit accumulated during development stage                             (15,359,888)      (13,291,247)
Unearned compensation expense                                               (671,712)       (1,400,668)
                                                                        ------------      ------------
     Total Stockholder's Equity                                              (92,295)          428,890
                                                                        ------------      ------------
                                                                        $  1,676,705      $  2,132,027
                                                                        ============      ============
</Table>


                 See notes to consolidated financial statements


                                      F-2
<Page>

                       MEDIUM4.COM, INC. AND SUBSIDIARIES
                        (A Development Stage Enterprise)

                      CONSOLIDATED STATEMENTS OF OPERATIONS

<Table>
<Caption>

                                                   Three Months      Three Months
                                                       Ended            Ended
                                                   June 30, 2001     June 30, 2000
                                                   -------------     -------------
                                                    (unaudited)       (unaudited)

<S>                                                <C>               <C>
REVENUE                                            $     85,000      $    135,498

COST OF SALES                                                --                --
                                                   ------------      ------------

GROSS PROFIT                                             85,000                --

EXPENSES:
  Production                                             40,721           172,695
  Selling, general and administrative expenses        1,431,584         1,846,089
                                                   ------------      ------------
     Total expenses                                   1,472,304         2,018,784
                                                   ------------      ------------
LOSS FROM OPERATIONS                                 (1,387,304)       (1,883,286)

OTHER INCOME (LOSS):
  Interest income                                            --            22,035
  Loss on marketable securities                              --            (3,692)
  Other income                                            5,664                --
                                                   ------------      ------------
     Total other income                                   5,664            18,342
                                                   ------------      ------------

LOSS BEFORE TAXES                                    (1,381,640)       (1,864,944)

INCOME TAX EXPENSE                                           --                --
                                                   ------------      ------------

NET LOSS                                           $ (1,381,640)     $ (1,864,944)
                                                   ============      ============

Other comprehensive income, net of tax:
  Foreign currency translation adjustments                   --                --

Comprehensive Income                               $ (1,381,640)     $ (1,864,944)
                                                   ============      ============

Weighted average shares of common stock
outstanding                                          15,584,696        10,381,196

  Net loss per share                               $      (0.09)     $      (0.18)
                                                   ============      ============
</Table>

                 See notes to consolidated financial statements


                                      F-3
<Page>

                       MEDIUM4.COM, INC. AND SUBSIDIARIES
                        (A Development Stage Enterprise)

                      CONSOLIDATED STATEMENTS OF OPERATIONS

<Table>
<Caption>

                                                  Six Months       Six Months
                                                     Ended            Ended
                                                 June 30, 2001     June 30, 2000
                                                 -------------     -------------
                                                  (unaudited)       (unaudited)

<S>                                              <C>               <C>
REVENUE                                          $    280,031      $    202,409

COST OF SALES                                           9,500                --
                                                 ------------      ------------

GROSS PROFIT                                          270,531                --

EXPENSES:
  Production                                           65,420           318,212
  Selling, general and administrative expenses      2,280,307         3,717,304
                                                 ------------      ------------
     Total expenses                                 2,345,726         4,035,516
                                                 ------------      ------------
LOSS FROM OPERATIONS                               (2,075,195)       (3,833,107)

OTHER INCOME (LOSS):
  Interest income                                         390            70,997
  Loss on marketable securities                            --           (25,022)
  Other income                                          6,164                --
                                                 ------------      ------------
     Total other income                                 6,554            45,975
                                                 ------------      ------------

LOSS BEFORE TAXES                                  (2,068,641)       (3,787,132)

INCOME TAX EXPENSE                                         --                --
                                                 ------------      ------------

NET LOSS                                         $ (2,068,641)     $ (3,787,132)
                                                 ============      ============


Other comprehensive income, net of tax:
  Foreign currency translation adjustments                 --                --

Comprehensive Income                             $ (2,068,641)     $ (3,787,132)
                                                 ============      ============


Weighted average shares of common stock
outstanding                                        14,195,625        10,294,298

  Net loss per share                             $      (0.15)     $      (0.37)
                                                 ============      ============
</Table>

                 See notes to consolidated financial statements


                                      F-4
<Page>

                       MEDIUM4.COM, INC. AND SUBSIDIARIES
                        (A Development Stage Enterprise)

                      CONSOLIDATED STATEMENT OF CASH FLOWS

<Table>
<Caption>

                                                            Six Months       Six Months
                                                               Ended            Ended
                                                           June 30, 2001    June 30, 2000
                                                           -------------    -------------
                                                            (unaudited)      (unaudited)
<S>                                                         <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                                  $(2,068,641)     $(3,787,132)
  Adjustments to reconcile net loss to net cash used in
   operating activities:
     Depreciation                                               213,571          190,816
     Amortization                                               236,462          128,620
     Accounts receivable                                             --          (68,700)
     Subscription receivable                                         --         (427,450)
     Other current assets                                        10,324           71,412
     Accounts payable                                          (104,480)         196,202
     Accrued expenses                                                --          (89,809)
     Deferred revenue                                          (136,000)         475,000
                                                            -----------      -----------

NET CASH USED BY OPERATIONS                                  (1,848,763)      (3,311,041)
                                                            -----------      -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
     Increase in other assets                                      (940)        (162,720)
     Purchases of capital expenditures                               --       (1,109,688)
     Increase in marketable securities                               --        2,847,249
                                                            -----------      -----------

NET CASH USED BY INVESTING ACTIVITIES                              (940)       1,574,841
                                                            -----------      -----------

CASH PROVIDED BY FINANCING ACTIVITIES:
     Loan payable                                               306,343               --
     Sale of common stock                                        51,260        1,156,450
     Paid-in capital                                            767,240               --
     Unearned compensation expense                              728,956          606,061
     Accumulated other comprehensive income                          --            1,111
                                                            -----------      -----------

NET CASH PROVIDED BY FINANCING ACTIVITIES                     1,853,799        1,763,622
                                                            -----------      -----------

NET INCREASE IN CASH                                              4,096           27,422

CASH, beginning of the period                                    50,462          103,364
                                                            -----------      -----------

CASH, end of the period                                     $    54,558      $   130,786
                                                            ===========      ===========


Supplemental disclosures of cash flow information:

     Taxes paid                                             $        --      $    10,850
</Table>

                 See notes to consolidated financial statements


                                      F-5
<Page>

                       MEDIUM4.COM, INC. AND SUBSIDIARIES
                        (A Development Stage Enterprise)

                 CONSOLIDATED STATEMENT OF STOCKHOLDER'S EQUITY

<Table>
<Caption>

                                                                                              Accumulated
                                                                                                 Other
                                                Common Stock          Additional                Compre-  Unearned         Total
                                         --------------------------    Paid in     Accumulated  hensive Compensation   Stockholders
                                            Shares        Amount       Capital       Deficit     Income   Expense        Equity
                                         ------------  ------------  ------------  ------------ ------- ------------   ------------

<S>                                        <C>         <C>           <C>           <C>            <C>   <C>            <C>
Balance as of December 31, 2000            12,266,196  $    122,662  $ 14,998,143  $(13,291,247)  $ --  $ (1,400,668)  $    428,890

Sale of common stock                        2,696,000        26,960       427,040            --     --            --        454,000

Common Stock issued for services            2,430,000        24,300       340,200            --     --            --        364,500

Unearned Compensation
      expense                                      --            --            --            --     --       728,956        728,956

Net loss                                           --            --            --    (2,068,641)    --            --     (2,068,641)
                                         ------------  ------------  ------------  ------------   ----  ------------   ------------

Balance as of June 30, 2001 (Unaudited)    17,392,196  $    173,922  $ 15,765,383  $(15,359,888)  $ --  $   (671,712)  $    (92,295)
                                         ============  ============  ============  ============   ====  ============   ============
</Table>

                 See notes to consolidated financial statements


                                      F-6
<Page>

                               MEDIUM 4. COM INC.

                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)

--------------------------------------------------------------------------------

1. BASIS OF PRESENTATION:

The accompanying unaudited financial statements of Medium 4. Com Inc. (the
"Company") have been prepared in accordance with generally accepted accounting
principles for interim financial information and with the instructions to
prepare them for inclusion as part of the Form 10QSB. Accordingly, they do not
include all of the information and footnotes required by generally accepted
accounting principles for complete financial statements. The financial
statements for the periods ended June 30, 2001 and 2000 are unaudited and
include all adjustments necessary to a fair statement of the results of
operations for the periods then ended. All such adjustments are of a normal
recurring nature. The results of the Company's operations for any interim period
are not necessarily indicative of the results of the Company's operations for a
full fiscal year. For further information, refer to the financial statements and
footnotes thereto included in the Company's annual report (Form 10-KSB) filed
with the Securities and Exchange Commission for the year ended December 31,
2000.

2. GOING CONCERN:

These financial statements have been prepared assuming the Company will continue
as going concern. The Company has suffered recurring losses amounting to $15.2
million.

3.  EQUITY TRANSACTIONS.

a. In January and February 2001, the Company sold 296,000 shares of common stock
   to a director and their relatives for $.25 per share or $74,000.

b. In April 2001, the Company sold 2,430,000 shares of common stock for
   services rendered at $.15 per share.

c. In May 2001, the Company sold 2,000,000 shares of common stock for $.15
   per share, and 400,000 shares at $.20 per share, respectively.

4. ADVANCES

a. A principal officer to the Company has advanced $162,443 to the Company
   during the period January 1, 2001 to March 31, 2001. Such advances bear
   interest at 6% per annum.

b. An unrelated party advanced the Company $100,000 at the end of March 2001.

5. DEFERRED REVENUES

The Company has received an additional $34,000 as a payment on the sale of
certain rights related to certain rights related to its proprietary technology.
Such monies have been recorded as deferred revenues until a definite sales
agreement is signed.


                                      F-7
<Page>

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

      INTRODUCTION

      We were incorporated in Delaware on November 12, 1998, under the name
foreignTV.com, Inc. We were founded to pursue opportunities arising out of the
Internet's emergence as a broadcast medium, which resulted, in large part, from
the advent of streaming video technology and the availability of high speed
Internet access.

      We commenced our operations in April 1999 as a single foreign TV network
that created, produced and distributed location-specific programming on the
Internet using streaming video technology. We then expanded our business to
provide streaming audio and video content over six Internet "television"
networks, which in the aggregate hosted over 100 distinct channels targeted to
various market segments and niches. In December 1999, we changed our name from
foreignTV.com, Inc. to Medium4.com, Inc. to reflect the diversification of our
programming and to underscore the Internet's role as the fourth medium for
television broadcasting, after cable, satellite and traditional television
transmission.

     We have recently refocused our business model to de-emphasize the offering
of thematic video-on-demand networks in favor of a single network of special
interest, continuously streaming broadband entertainment channels, using a
previously unavailable technology called simulated Live Stream, or SLS.
We have launched and operated several SLS channels under the Medium4TV network
brand name, and have concentrated our energies on testing viewer acceptance of
these channels and developing customized software solutions for their
presentation and distribution. We plan to introduce a new version of our
network, tentatively titled Medium4TV 2.0, before the end of September 2001.

     As part of our continued cost-cutting program, we have reduced the
number of our full-time employees to three, and have augmented their efforts
with services provided by part-time employees and consultants.

     In view of the rapidly evolving nature of our business and our limited
operating history, we believe that a description of our revenues and operating
results is not necessarily meaningful and should not be relied upon as
indications of future performance. Our current business plan assumes that we
will not derive any significant revenues from advertising or other activities
during the balance of 2001, or even later. Our business plan further assumes
that, subject to cash flow availability, we will continue to invest in and
disburse substantial funds to continue current operations and to develop our
single network of special interest, continuously streaming broadband
entertainment channels, for which purpose we will require additional capital
investments.

     Remaining a going concern will require additional financing until such
time as sufficient cash flows are generated from operations. Although we
anticipate certain additional debt and equity financing, there can be no
assurances that we will be able to obtain such financing to execute our
business model. Cash available at June 30, 2001, together with cash from
anticipated financing and revenues, is expected to be able to support our
operations through the end of the fourth quarter of 2001. We will need to
obtain substantial additional financing in order to continue, expand our
operations and to sustain our cash flow. We do not know if additional
financing, in excess of what is currently anticipated, will be available to
us on commercially reasonable terms, or at all. Moreover, if we raise
additional capital through borrowing or other debt financing, we would incur
substantial interest expense. Sales of additional equity securities will
dilute on a pro rata basis the percentage ownership of all holders of common
stock. If we do raise more capital in the future, it is likely that it will
result in substantial dilution to our present stockholders. Any inability to
obtain additional financing will materially adversely affect us, including
possibly requiring us to significantly curtail or cease business operations.

     RESULTS OF OPERATIONS

     SIX MONTHS ENDED JUNE 30, 2001 COMPARED TO SIX MONTHS ENDED JUNE 30, 2000

      We sustained a net loss of $2,068,641 for the six months ended June 30,
2001 on revenues of $280,031 derived from licensing fees and advertising fees.
Our net loss for the six months ended June 30, 2000 was approximately $3.79
million on revenues of $202,409, derived from advertising and the production of
infomercials.

     Production costs for the development of our original content for the six
months ended June 30, 2001 were $65,000 as compared to $318,212 for the
comparable period in 2000. This amount includes the cost of (i) data
communications, (ii) software license fees, (iii) content license fees,
where necessary in order to acquire additional content, and (iv) expenses of
hiring and compensating employees who handle production and delivery of our
content.

      Our selling, general and administrative expenses were $2,280,307 for the
six months ended June 30, 2001, consisting primarily of personnel costs,
depreciation, amortization of equity based compensation, amortization of
software, sales and marketing costs, general and administrative costs,
Internet domain and Web service costs, and miscellaneous expenses. Our selling,
general and administrative expenses were $3,717,304 for the six months ended
June 30, 2000.

     LIQUIDITY AND CAPITAL RESOURCES

      Since inception, we have financed our operations primarily through sales
of our common stock and warrants in our initial public offering and from several
private placements. Net proceeds from these sales have totaled approximately
$10.7 million, with $8.8 million raised in the initial public offering and the
balance in private placements.

      For the six months ended June 30, 2001, we used approximately $(1,848,763)
of our net cash in connection with our operating activities. Such amount was
primarily attributable to net losses, offset in part by common stock and options
issued for services, increases in accounts payable and deferred revenue, and
depreciation, amortization and unearned compensation expenses. For the six
months ended June 30, 2001, net cash provided by investing activities was
$1,853,799.

     At June 30, 2001, we had $54,558 in cash and cash equivalents which we
believe, together with cash from anticipated financings and revenues, will
support our operations throughout the end of the fourth quarter of 2001. We will
require substantial additional financing to remain a going concern and to expand
our operations. We do not know if additional financing, in excess of what is
currently anticipated, will be available to us or, if it is available, whether
it will be available on commercially reasonable terms. Any inability to obtain
additional financing will materially adversely affect us, including possibly
requiring us to significantly curtail or cease business operations.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     We do not engage in trading market risk sensitive instruments and do not
purchase hedging instruments or "other than trading" instruments that are likely
to expose us to market risk, foreign currency exchange, commodity price or
equity price risk. We have purchased no options and entered into no swaps. We
have no bank borrowing facility which could subject us to the risk of interest
rate fluctuations.

FORWARD-LOOKING STATEMENTS

      Management's Discussion and Analysis above contains certain
forward-looking statements and information relating to us and to our present and
future business operations within the meaning of Federal securities law. We have
identified these statements by using forward-looking terminology such as "may,"
"will," "expect," "anticipate," "estimate," "predict," "contemplate,"
"continue," "believe," "intend," the negative of the foregoing words, or other
similar words. These words, however, are not the exclusive means by which you
can identify these statements. You can also identify forward-looking statements
because they discuss future expectations, contain projections of results of
operations or of financial conditions, characterize future events or
circumstances or state other forward-looking information.

      These forward-looking statements included in Management's Discussion and
Analysis are based on our beliefs as well as assumptions made using information
currently available to us, and we assume no obligation to update any such
forward-looking statements. We believe that the expectations reflected in such
forward-looking statements are based on reasonable assumptions. However, because
these statements reflect our current views concerning future events, these
statements involve certain risks, uncertainties and assumptions. Actual future
results may differ materially and significantly from the results projected and
discussed in the forward-looking statements.

      We caution you that our business and financial performance are subject to
substantial risks and uncertainties. Potential risks and uncertainties include,
among others, the risk factors set forth in our Annual Report on Form 10-K for
the year ended December 31, 2001.

<PAGE>

     PART II.  OTHER INFORMATION

Item 2.    Changes in Securities and Use of Proceeds

     (a)  None

     (b)  None

     (c) During the second quarter of 2001 we privately sold an aggregate of
     4,830,000 shares of common stock to unaffiliated private investors for
     aggregate cash consideration of $380,000 and for services having an
     aggregate value of $364,500, respectively. We sold these securities in
     reliance upon the exemption from registration under the Securities Act of
     1933 provided by Section 4(2) of the Act on the basis that these
     transaction did not involve public offerings.

     (d) On April 13, 1999, we commenced an initial public offering of our
     securities, SEC file number 333-71733, resulting in net proceeds to us of
     $8,792,552. We have now expended all of such net proceeds upon the
     development of our business, including approximately $2 million for the
     payment of officers' salaries and consulting fees.

                                                                              16

<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.

                                    Medium4.com, Inc.
                                    (registrant)


Dated: August 17, 2001              By: /s/ Jonathan Braun
                                    -------------------------------------
                                    Jonathan Braun, Chairman and
                                    Principal Executive, Financial and
                                    Accounting Officer