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

                                   FORM 10-QSB/A


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

                  For the quarterly period ended March 28, 1999

                                       OR

     [ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE
ACT OF 1934

                         Commission File Number 0-27148

                    New World Coffee - Manhattan Bagel, Inc.
           (Name of small business issuer as specified in its charter)

          Delaware                                     13-3690261
(State or other jurisdiction                         (I.R.S. Employer
 of Incorporation or organization)                    Identification No.)

                             246 Industrial Way West
                               Eatontown, NJ 07724
          (Address of principal executive offices, including zip code)

                                 (732) 544-0155
                           (Issuer's telephone number)

     Check 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 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 ___

     Transitional small business disclosure format (check one):

                                  Yes ____ No X

     Number of shares of common stock,  $.001 par value per share,  outstanding:
          As of May 14, 1999:           20,235,047


<PAGE>



                    NEW WORLD COFFEE - MANHATTAN BAGEL, INC.

                           CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>



                                                                                     March 28,                December 27,
                                                                                       1999                      1998
                                                                                    ----------
ASSETS                                                                             (Unaudited)
<S>                                                                               <C>                       <C>


Current assets:
    Cash and cash equivalents...................................                    $4,494,785              $5,269,627
    Franchise and other receivables, net........................                     1,662,340                 964,609
    Current maturities of notes receivables.....................                     1,917,296               2,103,079
    Inventories.................................................                     1,480,019               1,355,730
    Prepaid expenses and other current assets...................                       154,409                 206,073
    Assets held for resale......................................                     1,633,053               1,633,053
                                                                                     ---------               ---------
       Total current assets.....................................                    11,341,902              11,532,171

Property, plant and equipment, net..............................                     6,738,078               6,889,876
Notes and other receivables, net................................                     1,464,117               1,391,929

Trademarks, net.................................................                    15,866,667               9,966,667
Goodwill, net...................................................                     1,047,670               7,097,670

Deposits and other assets.......................................                     1,021,618               1,215,124
                                                                                     ---------               ---------
       Total Assets                                                                $37,480,052             $38,093,437
                                                                                   ===========             ===========

LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities:
    Accounts payable............................................                    $1,992,926              $1,750,647
    Accrued expenses............................................                     5,920,914               7,279,646
    Current portion of long-term debt...........................                     2,545,986               1,633,624
    Current portion of obligations under capital leases.........                       365,054                 398,764
                                                                                       -------                 -------
       Total current liabilities................................                    10,824,880              11,062,681
                                                                                    ----------              ----------

Long-term debt..................................................                    12,593,686              13,530,749
Obligations under capital leases................................                             -                 115,591
Deferred rent...................................................                       269,151                 261,638
Other liabilities...............................................                     4,171,246               4,179,635
Commitments and Contingencies
Stockholders' equity:
    Preferred stock, $.001 par value; 2,000,000
       shares authorized; 0 issued and outstanding..............                             -                       -
    Series B convertible preferred stock, $.001 par value;
       225 Shares Authorized, 43.5 shares outstanding...........                             -                       -
    Common stock, $.001 par value; 50,000,000 shares
       authorized; 20,058,831 and 19,442,644 shares
       issued and outstanding...................................                        20,059                  19,443
    Additional paid-in capital..................................                    34,028,643              33,694,196
    Accumulated deficit.........................................                  (24,427,613)            (24,770,496)
                                                                                  ------------            ------------
       Total stockholders' equity...............................                     9,621,089               8,943,143
                                                                                     ---------               ---------
       Total liabilities and stockholders' equity...............                   $37,480,052             $38,093,437
                                                                                   ===========             ===========
</TABLE>

     The  accompany  notes are an integral  part of these  consolidated  balance
sheets.

<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.

                                NEW WORLD COFFEE - MANHATTAN BAGEL, INC.


Date:    June 21, 1999      By:  /s/R. Ramin Kamfar
                                -----------------------------------
                                R. Ramin Kamfar
                                Chairman and Chief Executive Officer



Date:    June 21, 1999      By:  /s/Jerold E. Novack
                                -----------------------------------
                                Jerold E. Novack
                                Chief Financial Officer