<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   June 30, 2002
                                                   ----------------

                                     or

              ( )   Transition Report Pursuant to Section 13 or 15(d) of the
                      Securities Exchange Act of 1939

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


Commission File Number:  1-13984
                         -------

                             CREATIVE BAKERIES, INC.
        (Exact name of small business issuer as specified in its charter)


          New York                              22-3576940
-------------------------------            ---------------------
(State or other jurisdiction of            (I.R.S. Employer
incorporation or organization)             Identification Number)


                     20 Passaic Avenue, Fairfield, NJ 07004
                     --------------------------------------

                                      (Address of principal executive offices)


Issuer's telephone number, including area code:             (973) 808-9292
                                                         -------------------

Former name:  William Greenberg Jr. Desserts and Cafes, Inc.

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
                                       ---     ---


Indicate the number of Shares outstanding of each of the Issuer's classes of
common stock, as of the latest practicable date.


            Class                          Outstanding at June 30, 2002
------------------------------             ----------------------------

Common Stock, par value $0.001
 per share           5,121,750






<Page>


                                      INDEX



Part I.  Financial information


<TABLE>
<S>                                                                               <C>
         Item 1.       Condensed consolidated financial statements:

                       Balance sheet as of June 30, 2002                           F-2

                       Statement of operations for the six and
                        three months ended June 30, 2002 and 2001                  F-3

                       Statement of cash flows for the six months
                       ended June 30, 2002 and 2001                                F-4

                       Notes to condensed consolidated financial
                       statements                                                F-5 - F-8

         Item 2.       Management's discussion and analysis of
                       financial condition
</TABLE>


Part II.  Other information


Signatures






<Page>




                    CREATIVE BAKERIES, INC. AND SUBSIDIARIES

              CONDENSED CONSOLIDATED BALANCE SHEET - JUNE 30, 2002
                                   (Unaudited)




                                     ASSETS

<TABLE>
<S>                                                                        <C>
Current assets:
  Cash and cash equivalents                                                $     3,043
  Accounts receivable, less allowance for doubtful
   accounts of $7,000                                                          214,355
  Inventories                                                                  268,540
  Prepaid expenses and other current assets                                     23,528
                                                                           -----------

    Total current assets                                                       509,466
                                                                           -----------

Property and equipment, net                                                    364,170
                                                                           -----------

Other assets:
  Goodwill                                                                      50,000
  Tradename, net of amortization                                                88,500
  Security deposits                                                              4,964
                                                                           -----------
                                                                               143,464
                                                                           -----------

                                                                           $ 1,017,100
                                                                           ===========

                LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)

Current liabilities:
  Loans payable, other                                                     $     7,500
  Cash overdraft                                                                29,859
  Accounts payable                                                             432,283
  Accrued expenses                                                             119,481
                                                                            ----------

    Total current liabilities                                                  589,123
                                                                            ----------

Other liabilities:
  Deferred rent                                                                 83,567
  Net liabilities of discontinued operations
   less assets to be disposed of                                               479,048
                                                                            ----------
                                                                               562,615
                                                                            ----------

Stockholders' equity (deficiency):
  Preferred stock $.001 par value, authorized 2,000,000
   shares, none issued
  Common stock, $.001 par value, authorized 10,000,000 shares,
   5,245,250 shares issued, 5,121,750 outstanding                                5,245
  Common stock subscribed, not issued                                           96,250
  Additional paid in capital                                                11,335,530
  Deficit                                                                  (11,481,178)
                                                                            ----------
                                                                               (44,153)
  Common stock held in treasury, 123,500 shares                                (90,485)
                                                                            ----------
                                                                              (134,638)
                                                                           -----------

                                                                            $1,017,100
                                                                            ==========

</TABLE>






            See notes to condensed consolidated financial statements.

                                                                            F-2






<Page>




                    CREATIVE BAKERIES, INC. AND SUBSIDIARIES

                 CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

                SIX AND THREE MONTHS ENDED JUNE 30, 2002 AND 2001
                                   (Unaudited)




<TABLE>
<CAPTION>
                                          Six Months                       Three Months
                                        Ended June 30,                    Ended June 30,
                                      2002           2001                2002           2001
                                      ----           ----                ----           ----
<S>                                <C>            <C>              <C>              <C>
Net sales                          $1,455,656     $1,887,720        $ 836,234       $1,119,092

Cost of sales                       1,206,816      1,545,417          620,365          949,985
                                   ----------     ----------        ---------       ----------

Gross profit                          248,840        342,303          215,869          169,107

Selling, general and
 administrative expenses              383,478        444,070          228,226          218,630
                                   ----------     ----------        ---------       ----------

Loss from continuing
 operations and before
 other income (expense)              (134,638)      (101,767)         (12,357)         (49,523)
                                   ----------     ----------        ---------       ----------

Other income (expense):
  Forgiveness of debt                  40,000                          40,000
  Bad debt                             (4,270)                         (4,270)
  Miscellaneous income                                 2,393                             2,393
  Interest income                                        753                                11
  Interest expense                                    (5,384)                           (2,420)
                                   ----------     ----------        ---------       ----------
                                       35,730          2,238           35,730              (16)
                                   ----------     ----------        ---------       ----------

Income (loss) from
 continuing operations                (98,908)      (104,005)          23,373          (49,539)

Discontinued operations:
  Income from operations
   of New York facility
   to be disposed of                    1,314          5,389              450            2,250
                                   ----------     ----------        ---------       ----------
Net income (loss)                 ($   97,594)   ($   98,616)       $  23,823      ($   47,289)
                                   ==========     ==========        =========       ==========


Earnings per common share:
  Primary and fully diluted:
    Loss from continuing
     operations                   ($     0.02)   ($     0.02)       $    0.00      ($     0.01)
    Discontinued
     operations                          0.00           0.00             0.00             0.00
                                   -----------------------------------------------------------

Net income (loss)
 per common share                 ($     0.02)   ($     0.02)       $    0.00      ($     0.01)
                                   ==========     ==========        =========       ==========
Weighted average
 number of common
 shares outstanding                 5,121,750      5,121,750        5,121,750        5,121,750
                                   ==========     ==========        =========       ==========

</TABLE>







            See notes to condensed consolidated financial statements.

                                                                             F-3






<Page>




                    CREATIVE BAKERIES, INC. AND SUBSIDIARIES

                 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

                     SIX MONTHS ENDED JUNE 30, 2002 AND 2001
                                   (Unaudited)





<TABLE>
<CAPTION>
                                                                     2002                  2001
                                                                ---------             ---------
<S>                                                             <C>                   <C>
Operating activities:
  Loss from continuing operations                               ($ 98,908)            ($104,005)
  Adjustments to reconcile loss from
   continuing operations to cash used in
   continuing operations:
     Depreciation and amortization                                 64,106               102,103
     Common stock issued for services                               6,250
     Bad debt                                                       4,270
     Forgiveness of debt                                          (40,000)
     Changes in other operating assets and
      liabilities from continuing operations:
        Accounts receivable                                        86,169               (24,754)
        Inventory                                                (115,962)               29,335
        Prepaid expenses and other current assets                  48,089                19,620
        Accounts payable                                          (47,188)              (98,008)
        Accrued expenses and other current
         liabilities                                              (78,292)               (3,572)
        Deferred rent                                             (10,966)              (13,366)
                                                                ---------             ---------

        Net cash used in continuing operations                   (182,432)              (92,647)
        Net cash provided by discontinued operations               34,000                64,233
                                                                ---------             ---------

        Net cash used in operating activities                    (148,432)              (28,414)
                                                                ---------             ---------

Financing activities:
  Cash overdraft                                                   29,859
  Payment of debt                                                                       (24,718)
                                                                ---------             ---------

        Net cash provided by (used in)
         financing activities                                      29,859               (24,718)
                                                                ---------             ---------

Net decrease in cash and cash equivalents                        (118,573)              (53,132)

Cash and cash equivalents, beginning of period                    121,616               129,320
                                                                ---------             ---------

Cash and cash equivalents, end of period                        $   3,043             $  76,188
                                                                =========             =========

Supplemental disclosures:
  Cash paid during the period for:
    Interest:
      Continuing operations                                     $       0             $   5,389
                                                                =========             =========
      Discontinued operations                                   $       0             $       0
                                                                =========             =========

Non-cash investing and financing activities:
  Property and equipment purchased and
   included in accounts payable                                 $  58,000             $       0
                                                                =========             =========

</TABLE>








            See notes to condensed consolidated financial statements.


                                                                             F-4






<Page>




                    CREATIVE BAKERIES, INC. AND SUBSIDIARIES

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

                     SIX MONTHS ENDED JUNE 30, 2002 AND 2001


1.       The accompanying unaudited financial statements have been prepared in
         accordance with generally accepted accounting principles for interim
         financial information and with the instructions to Form 10-QSB.
         Accordingly, they do not include all of the information and footnotes
         required by generally accepted accounting principles for complete
         financial statements. In the opinion of management, all adjustments
         considered necessary for a fair presentation have been included. The
         results of operations for the three months ended is not necessarily
         indicative of the results to be expected for the full year. For further
         information, refer to the consolidated financial statements and
         footnotes thereto included in the Company's annual report for the year
         ended December 31, 2001 included in its Annual Report filed on Form
         10-KSB.

         Going concern:

        The Company has incurred losses from continuing operations over the last
         several quarters. Management has described its plan of action in regard
         to this uncertainty in its latest annual report filed December 31,
         2001.


2.       Principles of consolidation:

         The accompanying consolidated financial statements include the account
         of the Company and all of its wholly owned subsidiaries. Intercompany
         transactions and balances have been eliminated in consolidation.


3.       Nature of operations, risks and uncertainties:

         The Company is a manufacturer of baking and confectionery products
         which are sold to supermarkets, food distributors, educational
         institutions, restaurants, mail order and to the public. Although the
         Company sells its products throughout the United States, its main
         customer base is on the East Coast of the United States.

         The process of preparing financial statements in conformity with
         generally accepted accounting principles requires the use of estimates
         and assumptions regarding certain types of assets, liabilities,
         revenues and expenses. Such estimates primarily relate to unsettled
         transactions and events as of the date of the financial statements.
         Accordingly, upon settlement, actual results may differ from estimated
         amounts.


4.       Accounts receivable:

         Following is a summary of receivables at June 30, 2002:

<TABLE>
<S>                                                                        <C>
               Trade accounts                                              $221,355
               Less allowance for doubtful accounts                          (7,000)
                                                                           --------
                                                                           $214,355
                                                                           ========

5.       Inventories:

         Inventories at June 30, 2002 consist of:
               Finished goods                                             $  51,579
               Raw materials                                                 72,310
               Supplies                                                     144,651
                                                                          ---------
                                                                          $ 268,540
                                                                           ========
</TABLE>


                                                                             F-5






<Page>




                    CREATIVE BAKERIES, INC. AND SUBSIDIARIES

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

                     SIX MONTHS ENDED JUNE 30, 2002 AND 2001




6.      Property and equipment:
<TABLE>
<S>                                                                      <C>
               Baking equipment                                          $1,338,226
               Furniture and fixtures                                        81,364
               Leasehold improvements                                       180,422
                                                                         ----------
                                                                          1,600,012
               Less:  Accumulated depreciation
                       and amortization                                   1,235,842
                                                                         ----------
                                                                         $  364,170
                                                                         ==========
</TABLE>

         Depreciation expense charged to operations was $62,606 and $61,647 in
         2002 and 2001, respectively.


7.       Intangible assets:

         On March 7, 2002 the Company purchased the rights to the tradenames
         Brooklyn Cheesecake Company, Inc. and Brooklyn Cheesecake and Desserts
         Company, Inc. and the related corporate logo in exchange for 300,000
         shares of the Company's common stock, valued on the purchase date at
         $90,000. The tradename rights are being amortized on the straight-line
         basis over a fifteen year term.


8.       Common stock subscribed, but not issued:

         On February 8, 2002 the Company granted a stock incentive of 25,000
         shares of common stock of the Company to an employee. The shares were
         issued in July, 2002.

         On March 7, 2002 the Company entered into an agreement to purchase the
         tradename and logo of Brooklyn Cheesecake Company, Inc. in exchange for
         shares of the Company's common stock as described in Note 7. The Shares
         were issued in July, 2002.

9.       Commitments and contingencies:

         The Company is obligated under a triple net lease for use of 29,362
         square feet of office and plant space in New Jersey with the lease
         commencing January 31, 1994 and expiring December 31, 2004.

         The minimum future rentals on the baking facility is as follows:

<TABLE>
<CAPTION>
                                                                     Facility
                                                                     --------
<S>                                                                  <C>
                June 30  2003                                        $200,000
                June 30, 2004                                         200,000
                June 30, 2005                                         100,000
                                                                     --------
                                                                     $500,000
                                                                     ========
</TABLE>

        Rent expense for all operating leases amounted to $108,145 in 2002 and
        $102,142 in 2001.


10.     Income taxes:

        The Company has a loss carryforward of $8,680,450 that may be offset
        against future taxable income. The carryforward losses expire at the end
        of the years 2006 through 2019.


                                                                             F-6






<Page>




                    CREATIVE BAKERIES, INC. AND SUBSIDIARIES

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

                     SIX MONTHS ENDED JUNE 30, 2002 AND 2001



11.     Earnings per share:

         Primary earnings per share is computed based on the weighted average
         number of shares actually outstanding plus the shares that would have
         been outstanding assuming conversion of the common stock purchase
         warrants which are considered to be common stock equivalents. However,
         according to FASB 128, effective for financial statements issued and
         annual periods beginning after December 15, 1997, entities with a loss
         from continuing operations should not include the exercise of potential
         shares in the calculation of earnings per share since the increase
         would result in a lower loss per share. Thus, common stock purchase
         warrants and stock options are excluded from the calculation of
         earnings per share.

        Reconciliation of shares used in computation of earnings per share:

<TABLE>
<CAPTION>
                                                                                2002               2001
                                                                                ----               ----
<S>                                                                          <C>                <C>
               Weighted average of shares actually
                 outstanding                                                 5,121,750          5,121,750
               Common stock purchase warrants
                                                                             ---------          ---------
               Primary and fully diluted weighted
                 average common shares outstanding                           5,121,750          5,121,750
                                                                             =========          =========
</TABLE>


12.     Common stock options:

         On February 8, 2002, the Company effectuated a non-statutory stock
         option plan for the purpose of advancing the interests of the Company
         and its stockholders by helping the Company retain the services of key
         management employees. The total number of shares set aside for the plan
         is 75,000. Under the plan, the option exercise price approximates the
         fair market value of the Company's common stock at the date of the
         grant. The options become exercisable as follows:

<TABLE>
<S>                                                            <C>
               August 31, 2002                                 25,000 shares
               August 31, 2003                                 25,000 shares
               August 31, 2004                                 25,000 shares
</TABLE>

         The Company has elected to follow APB-25 (Accounting for Stock Issued
         to Employees) in accounting for its employee stock options.
         Accordingly, no compensation expense is recognized in the Company's
         financial statements because the exercise price of the Company's
         employee stock options equals the market price of the Company's common
         stock on the date of grant. The Company has determined that the pro
         forma net income impact under Financial Accounting Standards Board
         Statement No. 123 (Accounting for Stock-Based Compensation) does not
         produce a material difference. The Company has noted that the
         volatility of the stock makes valuation by any other method
         inconsequential.


13.     Related party transactions:

        As described in Note 7, the Company purchased the tradename and logo of
        Brooklyn Cheesecake Company, Inc. in exchange for 300,000 shares of the
        Company's common stock. Brooklyn Cheesecake Company, Inc. was wholly
        owned by the chief executive officer of Creative Bakeries, Inc. The
        Company also purchased $45,000 of baking equipment in the same purchase
        transaction. This amount is included in the Company's accounts payable
        at June 30, 2002.


                                                                             F-7







<Page>



                    CREATIVE BAKERIES, INC. AND SUBSIDIARIES

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

                     SIX MONTHS ENDED JUNE 30, 2002 AND 2001

14.     Discontinued operations:

        In 1998, the Company adopted a formal plan to close WGJ Desserts and
        Cafes, Inc., its New York manufacturing facility, which was done in
        July of 1998 and to dispose of its one remaining retail store, which
        was accomplished in November 1998. The New Jersey facility was
        unaffected and continues to operate.

        On November 3, 1998, the Company sold its one remaining retail facility
        for $405,000 which represented disposition of equipment and a license to
        sell under the "William Greenberg, Jr. Desserts and Cafes" name. The
        agreement called for a cash down payment of $110,000 with the remainder
        being paid on a note receivable due in semi-annual installments of
        $36,875 plus interest at prime.

        The maturities of the notes are as follows:

              November, 2002                          $ 36,875
                                                      ========

        In the event that the licensee opens and operates any additional retail
        store(s) utilizing the license (other than the original retail store)
        and the annual gross retail sales of any such store(s) exceeds $400,000,
        then the licensee shall pay the licensor (the Company) a five percent
        royalty on all sales in excess of the $400,000 of sales in each store.
        The licensee shall pay the licensor a royalty on a semi-annual basis of
        3% of all mail order sales in excess of $100,000.

        Total liabilities, less assets to be disposed of, of WGJ Desserts,
        Inc. consisted of the following as of June 30, 2002:

<TABLE>
              <S>                                         <C>
              Liabilities:
                 Accounts payable                         $112,462
                 Accrued expenses                          403,911
                                                          --------
                                                           516,373
                                                          --------
              Assets:
                 Notes receivable                           36,875
                 Interest receivable                           450
                                                          --------
                                                            37,325
                                                          --------
                    Net liabilities                       $479,048
                                                          ========
</TABLE>


        Information relating to discontinued operations for WGJ Desserts and
        Cafes, Inc. for the six months ended June 30, 2002 and 2001 is as
        follows:

<TABLE>
<CAPTION>
                                                           2002                 2001
                                                           ----                 ----
              <S>                                         <C>                  <C>
              Operating expenses                          $      0             $    0
                                                          --------             ------
              Loss from operations                               0                  0
              Interest income                                1,314              5,389
                                                          --------             ------
              Income from discontinued operations         $  1,314             $5,389
                                                          ========             ======

</TABLE>

                                                                            F-8






<Page>



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

A. General

         The Company had acquired the assets of the Brooklyn Cheesecake Company
this past March. In an effort to improve, the overall image of the Company,
registration of the name Brooklyn Cheesecake & Desserts is currently being
applied for from the State of New Jersey. The Company refers to itself on
stationary, bank accounts and when answering the telephone as the Brooklyn
Cheesecake and Desserts Company.

         Marketing efforts to increase sales revenues will begin to yield
results in the fourth quarter of 2002. Commitments for fund raising products
mainly cheesecakes, will be increased significantly (approximately 100%). Mini
cakes have been shipped to three divisions of Flemming Foods with reorders in
production. Mini cakes have received preliminarily approval for on air selling
by QVC. A container of cheesecake has been ordered by a Japanese distributor and
is scheduled for shipment in late August.

         Controls are in place to assist in reducing costs and increasing
profitability. The Company has not reached break-even sales. Every effort is
being expended to increase sales revenue. The company still has a negative cash
flow of $ 79,657 however, this has been reduced by $54,109 as compared the same
period of 2001.

         At June 30, 2002 to the extent the Company may have taxable income in
future periods, there is available a net operating loss for federal income tax
purposes of approximately $8,680,450 which can be used to reduce the tax on
income up to that amount through the year 2019.

B. Results of Operations

         The Company's consolidated revenues from continuing operations
aggregated $836,234 and $1,119,092 for the quarters ended June 30, 2002 and 2001
respectively, a decrease of 25%. The cost of goods sold was $620,365 and
$949,985 respectively, a decrease of 35%. Operating expenses were $228,226 and
$218,630 respectively, an increase of 4%. As a result, the loss from continuing
operations before other income (expense) was $12,357 and $49,523 respectively, a
decrease of 75%. The net gain from continuing operations in the quarter was
$23,373 vs. a net loss of 49,539 in the previous year.

         The drop in sales volume is attributable to the sale of less profitable
batter business, which also resulted in substantially reducing the net operating
loss for the quarter.

         Depreciation and amortization for 2nd quarter 2002 decreased as
compared to 2nd quarter 2001 due to assets written down or written off for the
year ended December 31, 2001.

         The company's consolidated revenues from its discontinued operation,
the WGJ subsidiary were $0 in 2nd quarter 2002 and 2001. The





<Page>



WGJ subsidiary showed a gain from operations of $450 and $2,250 in 2nd quarter
2002 and 2001 respectively.

SEGMENT INFORMATION: Not applicable since retail operations were discontinued.

LIQUIDITY AND CAPITAL RESOURCES

LIQUIDITY

         Since its inception the Company's only source of working capital has
been the $8,455,000 received from the issuance of its securities.

         As of June 30, 2002, the Company had a negative working capital from
continuing operations of approximately $79,657 as compared to a negative working
capital of $133,766 at June 30, 2001.

CAPITAL RESOURCES:

         Although the Company has previously been successful in obtaining
sufficient capital funds through issuance of common stock and warrants, there
can be no assurance that the Company will be able to do so in the future.



<PAGE>


                                   SIGNATURES

     In accordance with Section 13 or 15(d) of the Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized on August 14, 2002.

                                  CREATIVE BAKERIES, INC.

                                  By: /s/ Ron Schutte
                                      ---------------------------------
                                      President and Chief Executive Officer

     In accordance with the Exchange Act, this report has been signed below by
the following persons on behalf of the registrant and in the capacities
indicated on August 14, 2002.


<TABLE>
<CAPTION>
Signatures                            Title
                                      -----
<S>                                   <C>



/s/Ron Schutte                        President, Chief Executive Officer/Director
----------------------------------
Ron Schutte

                                      Director
----------------------------------
Philip Grabow

                                      Director
----------------------------------
Richard Fechtor

/s/ Raymond J. McKinstry              Director
----------------------------------
Raymond J. McKinstry

/s/Karen Brenner                      Director
----------------------------------
Karen Brenner

/s/Yona Abrahami                      Director
----------------------------------
Yona Abrahami
</TABLE>