<PAGE>

                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

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

                                  FORM 10-QSB

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

                 For the quarterly period ended March 31, 2001
                              ------------------

    [_]  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 000-27039


                             CONVERGE GLOBAL, INC.
                              ------------------

       (Exact name of small business issuer as specified in its charter)


              Utah                                         87-0426858
  -------------------------------              ---------------------------------
  (State or other jurisdiction of              (IRS Employer Identification No.)
   Incorporation or organization)


           233 Wilshire Boulevard, Suite 930, Santa Monica, CA 90401
           ---------------------------------------------------------
                   (Address of principal executive offices)


                                (310) 434-1974
                                --------------
                          (Issuer's telephone number)


                                      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 Exchange Act 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  [_]

As of May 11, 2001, the number of shares of Common Stock issued and outstanding
was 8,933,170.

Transitional Small Business Disclosure Format (check one):
Yes  [_]   No  [X]
<PAGE>

                    CONVERGE GLOBAL, INC. AND SUBSIDIARIES

                                     INDEX


                                                                           Page
                                                                          Number
                                                                          ------
PART I - FINANCIAL INFORMATION

    Item  1.  Financial Statements

    Condensed Consolidated Balance Sheets - March 31, 2001

    Condensed Consolidated Statement of Operations - For the three months
    ended March 31, 2001 and 2000

    Condensed Consolidated Statement of Cash Flows - For the three months
    ended March 31, 2001 and 2000

    Notes to Condensed Consolidated Financial Statements

    Item  2.  Management's Discussion and Analysis of Financial Conditions
         and Results of Operations

PART II - OTHER INFORMATION

    Item  1.  Legal Proceedings
    Item  2.  Changes in Securities
    Item  3.  Defaults Upon Senior Securities
    Item  4.  Submission of Matters to a Vote of Security Holders
    Item  5.  Other Information
    Item  6.  Exhibits and Reports on Form 8-K

SIGNATURES
<PAGE>

                        PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.
<PAGE>

                    CONVERGE GLOBAL, INC. AND SUBSIDIARIES
                    CONSOLIDATED BALANCE SHEETS (UNAUDITED)
                                MARCH 31, 2001
<TABLE>
<CAPTION>
                                                                         2001
                                                                      ---------
<S>                                                                   <C>
                                    ASSETS
                                    ------
Website Development less accumulated ammortization                      202,500

Property and Equipment less accumulated depreciation                     21,348
                                                                      ---------
    Total assets                                                      $ 223,848
                                                                      =========

                     LIABILITIES AND STOCKHOLDERS' DEFICIT
                     -------------------------------------

Current liabilities:
  Accrued Expenses                                                    $ 248,633
  Loans Payable                                                         125,273
                                                                      ---------
    Total current liabilities                                           373,906
                                                                      ---------

Minority Interest                                                       257,250

Stockholders' deficit:
  Common stock $.001 par value; shares authorized
   50,000,000 issued and outstanding 8,933,170                            8,933
  Common stock subscriptions receivable                                  (2,000)
  Paid-in capital                                                       364,117
  Retained deficit                                                     (778,358)
                                                                      ---------
    Total stockholders' deficit                                        (407,308)
                                                                      ---------
    Total liabilities and stockholders' deficit                       $ 223,848
                                                                      =========
</TABLE>

              See accompanying notes to the financial statements.
<PAGE>

<TABLE>
<CAPTION>
                    CONVERGE GLOBAL, INC. AND SUBSIDIARIES
               CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
                 FOR THE PERIOD ENDED MARCH 31, 2001 AND 2000


<S>                                    <C>               <C>
                                             2001               2000
                                       ----------         ----------

Revenues                               $        -         $        -

Operating Expenses                         75,346            173,881
                                       ----------         ----------

Loss from Operations                      (75,346)          (173,881)

Interest Expense                                -              4,687
                                       ----------         ----------

Loss before Income Taxes                  (75,346)          (178,568)

Income Taxes                                  800                800

Minority Loss allocation                      (16)            (3,757)
                                       ----------         ----------


Net income (loss)                      $  (76,130)        $ (175,611)
                                       ==========         ==========



Income (Loss) per share:
     Basic and diluted                 $    (0.01)        $    (0.02)
                                       ==========         ==========

Number of shares used in the per
   share calculation:
     Basic and diluted                  8,933,170          8,918,100
                                       ==========         ==========
</TABLE>

              See accompanying notes to the financial statements.
<PAGE>


                    CONVERGE GLOBAL, INC. AND SUBSIDIARIES
                      STATEMENT OF CASH FLOWS (UNAUDITED)
                 FOR THE PERIOD ENDED MARCH 31, 2001 and 2000

<TABLE>
<CAPTION>
                                                        2001           2000
                                                      --------      ---------
<S>                                                   <C>           <C>
Cash flows from operating activities:
  Net income (loss)                                   $(76,130)     $(175,611)

  Adjustments to reconcile net loss to net
   cash used in operating activities:
     Depreciation and ammortization                     24,221          1,345
     Shares issued for services                          3,000              -
     Minority Interest                                     (16)        (3,757)
     Changes in operating assets & liabilities:
       Increase in accrued expenses                     28,388          8,512
                                                      --------      ---------
         Total adjustments                              55,593          6,100
                                                      --------      ---------
         Net cash used in operating activities         (20,537)      (169,511)
                                                      --------      ---------
Cash flows from investing activities:
  Payments to acquire property and equipment                 -        (44,773)
  Investment in Website development                                   (70,000)
                                                      --------      ---------
         Net cash used in investing activities               -       (114,773)
                                                      --------      ---------
Cash flows from financing activities:
  Proceeds of note payables                              8,720        185,090
  Proceeds from sale of securities of subsidiaries           -        440,000
                                                      --------      ---------
         Net cash provided by financing activities       8,720        625,090
                                                      --------      ---------

Net increase (decrease) in cash and cash equivalents   (11,817)       340,806

Cash and cash equivalents at beginning of the period    11,817          2,462
                                                      --------      ---------
Cash and cash equivalents at end of the period        $      -      $ 343,268
                                                      ========      =========

Supplemental disclosure of cash flow information:
  Interest paid                                       $      -      $       -
                                                      ========      =========
  Income taxes paid                                   $    800      $     800
                                                      ========      =========
</TABLE>


              See accompanying notes to the financial statements.

<PAGE>

                    CONVERGE GLOBAL, INC. AND SUBSIDIARIES

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                   THREE MONTHS ENDED MARCH 31, 2001 AND 2000


(1)  Summary of Significant Accounting Policies:

     Organization and Basis of Presentation:

        The Company was organized October 4, 1985, under the laws of the State
        of Utah, as Mormon Mint, Inc.  The Company was inactive for
        approximately 10 years.

        On December 4, 1997, the Company changed its name from Mormon Mint, Inc.
        to Capital Placement Specialists, Inc.

        Pursuant to an acquisition agreement, dated January 5, 1999, Bekam
        Investments, Ltd. ("Bekam") acquired one hundred percent (100%) of the
        common shares of the Company at that time; or 2,340,100 shares.  Bekam
        subsequently spun off the Company by contributing the shares to the
        treasury of the Company for redistribution to selected investors of
        Bekam.  The Company then changed its name to Converge Global, Inc.

     Principles of Consolidation:

        The accompanying financial statements include the accounts of Converge
        Global, Inc. (the "Parent"), and its subsidiaries, Digitalmen.com, Inc.,
        and LiquidationBid.com, Inc.  All significant intercompany accounts and
        transactions have been eliminated in consolidation.
<TABLE>
<CAPTION>
                                Percent of
            Subsidiary          ownership        Description
            ----------          ---------        ------------
<C>                             <C>             <S>
        Digitalmen.com, Inc.     84.24%          Digitalmen.com, Inc. (formerly
                                                 Gearz.com, Inc.) was formed on
                                                 February 5, 1999 in the State
                                                 of California. During the
                                                 period ended June 30, 2000,
                                                 Digitalmen.com, Inc. commenced
                                                 three Private Placement
                                                 Offerings, which are exempt
                                                 from registration under
                                                 Regulation D of The Securities
                                                 Act of 1933. Total proceeds
                                                 raised during the period
                                                 amounted to $440,000 and is
                                                 ongoing. The offering terms are
                                                 as follows:

                                                 a.  1,000,000 shares of
                                                     Digitalmen.com, Inc.'s
                                                     restricted common stock at
                                                     $0.50 per share.
</TABLE>
<PAGE>

                     CONVERGE GLOBAL, INC. AND SUBSIDIARIES

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                   THREE MONTHS ENDED MARCH 31, 2001 AND 2000


(1)      Summary of Significant Accounting Policies (Continued):

    Principles of Consolidation, Continued:
<TABLE>
<CAPTION>
                                  Percent of
        Subsidiary                ownership      Description
        ----------                -----------    -----------
<C>                              <C>             <S>
                                                 b.  1,000,000 warrants of
                                                     Digitalmen.com at $0.30 per
                                                     warrant which maybe
                                                     exercised at $2.50 per
                                                     share to acquire one share
                                                     of common stock for each
                                                     warrant.
                                                 c.  1,000,000 shares of
                                                     Digitalmen.com, Inc.'s
                                                     restricted common stock at
                                                     $3.50 per share.
</TABLE>
<PAGE>

                     CONVERGE GLOBAL, INC. AND SUBSIDIARIES

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                   THREE MONTHS ENDED MARCH 31, 2001 AND 2000


(1)  Summary of Significant Accounting Policies (Continued):

     Principles of Consolidation, Continued:
<TABLE>
<CAPTION>
                                   Percent of
        Subsidiary                 ownership       Description
        ----------                 ---------       -----------
<C>                                <C>             <S>
        LiquidationBid.com, Inc.       50%         LiquidationBid.com, Inc. (a
                                                   development stage company)
                                                   was incorporated on April 8,
                                                   1999 in the State of Nevada.
                                                   The Company was awarded
                                                   1,000,000 of the 2,000,000
                                                   outstanding shares of
                                                   LiquidationBid.com, Inc. in
                                                   exchange for the rights to
                                                   services. No value has been
                                                   assigned to these future
                                                   rights, and therefore, there
                                                   is no cost basis in this
                                                   investment. Two of the three
                                                   board members of
                                                   LiquidationBid.com, Inc. are
                                                   officers and stockholders of
                                                   the Company, thereby
                                                   demonstrating control over
                                                   LiquidationBid.com, Inc.
                                                   There were no material
                                                   operations during the period
                                                   ended March 31, 2001.
</TABLE>

     Going Concern:

        The Company's consolidated financial statements are prepared using the
        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 no
        current source of revenue.  Without realization of additional capital,
        it would be unlikely for the Company to continue as a going concern.
        This factor raises substantial doubt about the Company's ability to
        continue as a going concern. Management recognizes that the Company must
        generate additional resources to enable it to continue operations.  The
        Company intends to begin recognizing significant revenue during the year
        2001.  Management's plans also include the sale of additional equity
        securities. However, no assurance can be given that the Company will be
        successful in raising additional capital. Further, there can be no
        assurance, assuming the Company successfully raises additional equity,
        that the Company will achieve profitability or positive cash flow.  If
        management is unable to raise additional capital and expected
        significant revenues do not result in positive cash flow, the Company
        will not be able to meet its obligations and will have to cease
        operations.
<PAGE>

                     CONVERGE GLOBAL, INC. AND SUBSIDIARIES

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

                   THREE MONTHS ENDED MARCH 31, 2001 AND 2000


 (1)  Summary of Significant Accounting Policies (Continued):

        Basis of Preparation:

        The accompanying unaudited condensed consolidated interim financial
        statements have been prepared in accordance with the rules and
        regulations of the Securities and Exchange Commission for the
        presentation of interim financial information, but do not include all
        the information and footnotes required by generally accepted accounting
        principles for complete financial statements.  The audited consolidated
        financial statements for the two years ended December 31, 2000 were
        filed on April 16, 2001 with the Securities and Exchange Commission and
        are hereby referenced.  In the opinion of management, all adjustments
        considered necessary for a fair presentation have been included.
        Operating results for the three-month period ended March 31, 2001 are
        not necessarily indicative of the results that may be expected for the
        year ended December 31, 2001.

(3)   Subsequent Events:

        On April 21, 2001, the Company exchanged 285,714 shares of EssTec, Inc.
        with a former officer of the Company, for 1,000,000 shares of the
        Company's common stock. The Company also exchanged 64,000 shares of
        EssTec, Inc. against settlement of debts with related parties amounting
        $64,000
<PAGE>

Item 2.  Management's Discussion and Analysis of Financial Condition and Results
of Operations.

The discussion and financial statements contained herein are for the three
months ended March 31, 2001 and 2000. The following discussion regarding the
financial statements of the Company should be read in conjunction with the
financial statements of the Company included herewith.

Overview.

The Company's business is focused in the globally emerging electronic commerce
("e-commerce") industry.

Plan of Operations.

With the winding down of continued development of LiquidationBid.com,
DesiTV.com, and Machmail.com, the Company's cash requirements for the next
twelve months have decreased from approximately $40,000 per month last year to
approximately $15,000 per month currently. With a $250,000 line of credit
recently granted by a director (see "Certain Relationships and Related
Transactions"), the Company should be able to continue its operations for the
next twelve months. The Company has also been able to secure $200,000 in
convertible debt financing to continue its operations (see "Results of
Operations"). While there is no assurance the Company will be successful in
raising additional capital, the Company is actively seeking both institutional
debt and private equity financing to assure that it will be capable of financing
the continuation of the business. Any additional capital raised above and beyond
what the Company needs as its monthly expenditure would be used in increasing
marketing and sales efforts of the Company's Web sites. Should the Company fail
to raise additional funding, it will be forced to curtail its growth, cut back
by reducing the number of employees or even cease operations altogether.

The Company does not anticipate any new research and development to be conducted
in the near future. In the event there is a need for research and development,
the Company believes that its current work force is capable and equipped to
conduct such research and development internally. The Company does not
anticipate any purchase or sale of plant and/or equipment nor does the
management anticipate any increase in the number of employees.

Results of Operations.

The Company did not generate any revenues in the three month period ended March
31, 2001. Currently, the Company's only cash requirements are for rent and
salaries. The following table sets forth, for the periods indicated, selected
financial information for the Company:

<PAGE>

<TABLE>
<CAPTION>
========================================================================================
                                                 Three Months Ended   Three Months Ended
                                                   March 31, 2001       March 31, 2000
                                                    (unaudited)           (unaudited)
<S>                                              <C>                  <C>
Total Revenue                                         $     -              $      -
                                                       -------              --------
Cost of Revenue                                             -                     -
                                                       -------              --------
Gross Profit                                                -                     -
                                                       -------              --------
General, Administrative and Selling Expenses            75,346               173,881
Income (loss) from Operations                          (75,346)             (173,881)
Interest Expense                                            -                  4,687
                                                       -------
Income (loss) before Taxes                             (75,346)             (178,568)
Taxes on Income                                            800                   800
Minority loss allocation                                   (16)               (3,757)
Net Income (loss)                                      (76,130)             (175,611)
========================================================================================
</TABLE>

Three Months Ended March 31, 2001 as Compared to Three Months Ended March 31,
2000

Revenues.

The Company had no revenues for the three months ended March 31, 2001 and for
the three months ended March 31, 2000.

General, administrative and selling expenses.

The Company incurred costs of $75,346 for the quarter ended March 31, 2001 as
compared to $173,881 for the quarter ended March 31, 2000. The decrease is due
to the fact that the Company no longer consolidates the financial statements of
its former subsidiary EssTec, Inc. since the Company's ownership is less than
50% of the outstanding shares of EssTec, Inc. as of March 31, 2001.

Interest expense.

The Company had no interest expense for the three months ended March 31, 2001 as
compared to $4,687 interest expense for the three months ended March 31,2000.
The decrease is due to settlement of Company's debts by exchanging shares of
EssTec, Inc. in the last quarter of 2000.

Loss before taxes.

The Company has a loss before taxes and minority interest of $75,346 for the
three months ended March 31, 2001 as compared to $178,568 for the three months
ended March 31, 2000.

Taxes on income.

Income tax for the three months ended March 31, 2001 and 2000 was $800. The
income tax provision represents minimum income tax for the state of California.
There was no federal income tax in either period as the Company had taxable
losses.

Net loss.

The Company had a net loss of $76,130 for the quarter ended March 31, 2001 as
compared a net loss of $175,611 for the quarter ended March 31, 2000.

<PAGE>

Liquidity and Capital Resources.

In January 1999, the Company concluded an offering under Rule 504 of Regulation
D. In this offering the Company raised $25,000 and also issued 2,000,000 options
to purchase shares of its common stock at an exercise price of $0.10 each. These
options were exercised on March 30, 1999, May 7, 1999, and June 1999, raising an
additional $200,000.

On May 5, 1999, the Company executed a promissory note with the holder Verifica
International, Ltd. in the amount of $250,000. The note paid an annual interest
rate of 7.5% on the outstanding balance and was due on April 15, 2002. The
Company has settled the note by exchanging 250,000 shares of its common stock of
EssTec, at $1.00 per share.

On November 1, 1999, the Company's director provided an unsecured line of credit
to the Company to draw upon, interest free, in the amount of $250,000 to be
payable by January 1, 2003.

On January 19, 2000, the Company executed a convertible preferred promissory
note in the amount of $200,000 with Knightrider Investments, Ltd. The Company
borrowed $140,000 against this line during January and February 2000. The note
was due within one year with 8% annual interest. The Company settled this note
by exchanging 139,990 shares of its common stock of EssTec, at $1.00 per share
in the last quarter of 2000.

The Company foresees a variety of methods for diversifying its operations and
pursuing its strategic and business objectives without pulling badly needed
capital from its on-going operations, or incurring onerous overhead and
financing obligations. These options include licenses, joint ventures, and even
counter-trade (technologies for technologies) mechanisms as part of this
diversification methodology. The Company has not yet engaged in any counter-
trade mechanisms trading technology for technology, licenses nor joint ventures
as of the date of this filing. In addition, there are no assurances that the
Company could find adequate partners for each of these alternatives. In the
event the Company is unable to implement such alternative methods of funding and
find other sources of capital, the operation of the business would be severely
and adversely affected.

The Company does not believe that inflation has had a significant impact on its
operations since inception of the Company.

Subsidiaries.

On February 5, 1999, the Articles of Incorporation for Gearz.com, Inc.
("Gearz.com") were filed with the California Secretary of State. The directors
of Gearz.com are Imran Husain and Samar Khan. The Articles were subsequently
amended on December 7, 1999, to change the name of Gearz.com to Digitalmen.com,
Inc. Digitalmen.com is a majority owned subsidiary of Converge whereby Converge
holds 3,000,000 shares of common stock of this company. Digitalmen.com is a
portal site geared towards men's interest. The target group ranges from ages 18
to 45 with interests in finance, travel, entertainment, fashion and electronics.

On April 30, 1999, Converge became a 50% shareholder of LiquidationBid.com, Inc.
("LiquidationBid") whereby Converge holds 1,000,000 shares of common stock of
LiquidationBid. Mr. Imran Husain serves as the President and Director of
LiquidationBid.

The Company is a 20% shareholder of MedCom Network, Inc. ("MedCom"), a
California corporation which is developing an on-line data base of disease codes
which are codes found in the medical industry

<PAGE>

dictionaries. The Company invested in MedCom by contributing $30,000 in cash for
shares of restricted common stock of MedCom. This was an investment made by the
Company and the Company's officers or directors have no management involvement
in MedCom. As of December 31, 1999 MedCom had no sales and cost of sales
resulting in a loss from continuing operations and net loss. The investment in
MedCom is recorded at no value in the financial statements as of December 31,
1999 and 2000, as required by the equity method of accounting.

The Company owns 39% of EssTec, Inc., formerly Essential Tec, Inc. ("EssTec"),
an information technology services Company with an extensive technical labor
force in Pakistan. EssTec's software engineers are capable of providing high
quality, cost-effective services to clients in a resource-constrained
environment. EssTec services include e-Commerce Solutions, e-Procurement
applications, auctioning engines, and several other web based solutions. EssTec
sells and markets its services and products from its offices based in Santa
Monica, California. During the months of September and December, 2000, the
Company exchanged 931,772 shares of EssTec stock owned by the Company for debts
owed to related parties, resulting in a gain of $1,571,227.

On April 21, 2001, the Company exchanged 285,714 shares of its EssTec stock for
the return of 1,000,000 of its shares with Samar Khan, and converted $64,000 of
debt for 64,000 shares of EssTec.

                          PART II - OTHER INFORMATION

Item 1.  Legal Proceedings.

To the best knowledge of management, there is no material litigation pending or
threatened against the Company.

Item 2.  Changes in Securities and Use of Proceeds.

None.

Item 3.  Defaults Upon Senior Securities.

None.

Item 4.  Submission of Matters to a Vote of Security Holders.

None.

Item 5.  Other Information.

None.

<PAGE>

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

The following documents are filed as part of this report:

1.  The following Exhibits are filed herein:  None.

2.  Reports on Form 8-K filed:

    Report Name         Date Filed          Subject
    -----------         ----------          -------
    Form 8-K            March 20, 2001      Change in Company's certifying
                                            accountant
    Form 8-K/A          March 27, 2001      Amendment to include letter from
                                            Company's former accountant per
                                            Form 8-K filed on March 20, 2001
    Form 8-K/A          April 6, 2001       Amendment to revise language of
                                            Form 8-K filed on March 20, 2001

<PAGE>

                                  SIGNATURES

In accordance with the Exchange Act, the registrant caused this report to be
signed on its behalf by the undersigned, duly authorized.


                                       CONVERGE GLOBAL, INC.


DATED:   May 14, 2001                  By:   /s/ Imran Husain
                                          ---------------------------------
                                          Imran Husain, President and Chief
                                          Executive Officer

                                       By:   /s/ Hamid Kabani
                                          ---------------------------------
                                          Hamid Kabani, Chief Financial
                                          Officer