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 June 27, 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 August 4, 1999: 20,485,047




<PAGE>






                    NEW WORLD COFFEE - MANHATTAN BAGEL, INC.

                      CONSOLIDATED STATEMENTS OF OPERATIONS

          FOR THE SECOND QUARTER ENDED JUNE 27, 1999 AND JUNE 28, 1998

          AND YEAR TO DATE PERIOD ENDED JUNE 27, 1999 AND JUNE 28, 1998

                                    UNAUDITED
<TABLE>
<CAPTION>


                                                                    Second Quarter Ended                Year To Date Ended
                                                              June 27,1999       June 28, 1998      June 27, 1999  June 28, 1998

<S>                                                           <C>                <C>               <C>             <C>

Revenues:
    Manufacturing revenues......................................$6,152,254      $  112,402    $12,196,461     $  231,484
    Retail sales.................................................2,399,425       3,041,595      4,729,427      6,150,640
    Franchise related revenues...................................1,236,461         861,197      2,442,089      1,418,290
                                                                 ---------       ---------     ----------      ---------
Total Revenues...................................................9,788,140       4,015,194     19,367,977      7,800,414

    Cost of sales................................................6,907,008       2,843,891     13,799,188      5,458,013
    General and administrative expenses..........................1,476,447         728,013      2,987,618      1,433,103
    Depreciation and amortization..................................531,954         315,336      1,074,668        684,384
                                                                 ---------       ---------      ---------        -------
Operating Income...................................................872,731         127,954      1,506,503        215,192

Other Expenses:
    Interest expense, net..........................................322,877          56,350        613,766         81,244
                                                                   -------          ------        -------         ------

Net Income........................................................$549,854         $71,604       $892,737       $133,948
                                                                  ========         =======       ========       ========
Basic Net Income Per Common Share.....................................$.03            $.01           $.05           $.01
                                                                      ====            ====           ====           ====

Basic Weighted Average Number of Common Shares
    Outstanding.................................................19,849,440      12,168,587     19,713,321     11,976,494
                                                                ==========      ==========     ==========     ==========

Diluted Net Income Per Common Share...................................$.03            $.01           $.04           $.01
                                                                      ====            ====           ====           ====

Diluted Weighted Average Number of Common Shares
    Outstanding.................................................20,361,205      12,168,587     20,225,086     11,976,494
                                                                ==========      ==========     ==========     ==========
</TABLE>

     The  accompanying   notes  are  an  integral  part  of  these  consolidated
statements.





<PAGE>




                    NEW WORLD COFFEE - MANHATTAN BAGEL, INC.

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

        FOR THE YEAR TO DATE PERIOD ENDED JUNE 27, 1999 AND JUNE 28, 1998

                                    UNAUDITED

<TABLE>
<CAPTION>

                                                                                                June 27,         June 28,
                                                                                                  1999             1998
<S>                                                                                             <C>              <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
    Net income......................................................................           $892,737     $    133,948
    Adjustments to reconcile net income to net cash used in operating activities:
        Depreciation and amortization...............................................          1,074,668          684,384
        Gain on sale of fixed assets................................................           (219,829)      (1,128,458)
    Increase/(decrease) in cash as a result of changes in  operating  assets and
              liabilities:
        Receivables                                                                            (808,409)         205,742
        Inventories                                                                            (136,413)          33,839
        Prepaid expenses and other current assets...................................            (46,596)         (25,092)
        Deposits and other assets...................................................            246,021          (42,739)
        Accounts payable                                                                        (99,183)        (106,938)
        Accrued expenses                                                                       (563,259)        (793,022)
        Deferred rent...............................................................             15,028           26,473
        Other liabilities...........................................................           (159,658)             -
                                                                                               ---------        ---------
 Net cash provided by/(used in) operating activities................................            195,107       (1,011,863)
                                                                                               ---------       ----------

CASH FLOWS FROM INVESTING ACTIVITIES:
    Capital expenditures............................................................           (568,352)        (292,490)
    Proceeds from the sale of fixed assets .........................................             452,935             -
                                                                                               ---------       ----------
               Net cash provided by/(used in) investing activities..................           (115,417)        (292,490)
                                                                                               ---------        ---------

CASH FLOWS FROM FINANCING ACTIVITIES:
    Issuance of common stock, net of issuance costs.................................            335,064        1,590,187
    Proceeds from long term borrowings..............................................             77,826              -
    Receipts on notes receivable....................................................            295,195              -
    Additions to notes receivable...................................................           (294,156)             -
    Payment of liabilities in connection with acquired assets                                (1,842,197)             -
    Repayments of capital leases....................................................           (318,542)        (120,815)
    Repayment of notes payable......................................................           (448,776)         (26,250)
                                                                                              ---------        ---------
               Net cash provided by/(used in) financing activities..................         (2,195,586)       1,443,122
                                                                                             -----------       ---------
               Net increase(decrease) in cash.......................................         (2,117,416)         138,769

CASH, Beginning of Period...........................................................          5,269,627        1,149,013
                                                                                              ---------        ---------

CASH, End of Period.................................................................          3,152,211        1,287,782
                                                                                              =========        =========

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
    Cash paid during the period for:
       Interest.....................................................................            718,121           53,334
    Non-cash investing and financing activities:
       Equipment purchased under capital leases.....................................            359,657           15,332
       Issuance of Common Stock as repayment of promissory note.....................                -          1,100,000
       Notes received from sale of fixed assets.....................................                -          2,373,750
</TABLE>

<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:   August 19, 1999                By: /s/R. Ramin Kamfar
                                           -------------------------
                                           R. Ramin Kamfar
                                           Chairman and Chief Executive Officer



Date:   August 19, 1999                By: /s/Jerold E. Novack
                                           -------------------------
                                           Jerold E. Novack
                                           Chief Financial Officer