U. S. Securities and Exchange Commission
                            Washington, D. C.  20549


                                   FORM 10-QSB


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

        For  the  quarterly  period  ended  September  30,  2002

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

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

                          Commission File No. 000-33005


                     PREMIER DEVELOPMENT & INVESTMENT, INC.
              -----------------------------------------------------
             (Exact name of Registrant as specified in its charter)

                          NEVADA                     52-2312117
             -------------------------------     -------------------
             (State or other jurisdiction of        (IRS Employer
              Incorporation or Organization)      Identification No.)


                       504 Beebe Ct., Frederick, MD  21703
         ---------------------------------------------------------------
                    (Address of Principal Executive offices)

                                 (813) 784-3442
                                 --------------
                           (Issuer's telephone number)

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

State the number of shares outstanding of each of the issuer's classes of common
equity,  as  of  the  latest  practicable  date:


           Class                                Outstanding at November 14, 2002
           -----                                --------------------------------

Common  Stock,  Class  A,  $0.001  par  value                    5,350,000



<PAGE>
Transitional  Small  Business  Disclosure  Form  (check  one):

                          Yes                       No     X
                              --------                 --------


                     PREMIER DEVELOPMENT & INVESTMENT, INC.

                                TABLE OF CONTENTS
                                   FORM 10-QSB

Item 1.           Financial Statements..................................3

                  Balance Sheet (unaudited)
                    for the period ended September 30, 2002 (unaudited)
                    for the period ended December 31, 2001 (audited)....3

                  Statement of Operations (unaudited)
                    for the three months ended September 30, 2002
                    and the three months ended September 30, 2001
                    and the nine months ended September 30, 2002
                    and the nine months ended September 30, 2001........4

                  Statement of Cash Flow (unaudited)
                    for the three months ended September 30, 2002
                    and the three months ended September 30, 2001
                    and the nine months ended September 30, 2002
                    and the nine months ended September 30, 2001........5

                  Notes to Financial Statements (unaudited).............8

Item 2.           Management's Discussion and Analysis or
                    Plan of Operation..................................13


                                     PART II
                                OTHER INFORMATION

Item 1.           Legal Proceedings....................................19

Item 2.           Changes in Securities and Use of Proceeds............19

Item 3.           Defaults Upon Senior Securities......................19

Item 4.           Submission of Matters to a Vote of Security Holders..19

Item 5.           Other Information....................................19

Item 6.           Exhibits and Reports on Form 8-K.....................19

                  Signatures...........................................19



                                        2
<PAGE>

                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

                     PREMIER DEVELOPMENT & INVESTMENT, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                                  BALANCE SHEET

                                                     September 30,  December 31,
                                                          2002         2001
                                                      (unaudited)    (audited)
                                                      -----------   ------------
                                     ASSETS

Current  assets:
     Cash                                                $4,755        $6,123
     Marketable  securities                               4,000        23,000
     Prepaid  expenses                                        -           375
                                                        -------       -------
     Total  current  assets                              $8,755       $29,498
                                                        -------       -------
Other  assets:
     Investment  in  investee                           $56,743       $58,333
     Investment in affiliate                              5,000             -
     Loans to affiliates                                  2,500             -
                                                        -------       -------
     Total  other  assets                               $64,243       $58,333
                                                        -------       -------

Total  assets                                           $72,998       $87,831
                                                        =======       =======

                                   LIABILITIES

Current  liabilities:
                                                        $     -       $     -
                                                        -------       -------
    Total  current  liabilities                         $     -       $     -
                                                        =======       =======
Stockholders'  equity:
    Common  stock,  class  A,  $0.001  par  value
       25,000,000  authorized;
       5,350,000  issued  and  outstanding              $ 5,350       $ 5,350
    Common  stock,  class  B,  $0.001  par  value
       10,000,000  authorized;
       none  issued  and  outstanding                         -             -
    Preferred  stock,  $0.001  par  value
       20,000,000  authorized;
       none  issued  and  outstanding                         -             -
    Additional  paid  in  capital                       154,140       150,540
    Accumulated  deficit                                (45,716)      (17,103)
                                                        -------       -------
                                                        113,774       138,787
     Less:  Class  A  common  stock  subscribed         (40,776)      (50,956)
                                                        -------       -------
          Total  stockholders'  equity                   72,998        87,831

TOTAL  LIABILITIES  AND  STOCKHOLDERS'  EQUITY          $72,998       $87,831
                                                        =======       =======



                                        3
<PAGE>

                     PREMIER DEVELOPMENT & INVESTMENT, INC.
                         (A DEVELOPMENT STAGE COMPANY)

                            STATEMENT OF OPERATIONS

<TABLE>
<CAPTION>
                                                                                                    March 29, 2001     Cumulative
                                                    3-months         3-months         9-months        (inception)        During
                                                      Ended            Ended            Ended           through        Development
                                                     9/30/02          9/30/01          9/30/02          9/30/01           Stage
                                                   (unaudited)      (unaudited)      (unaudited)       (audited)       (unaudited)
                                                  -------------    -------------    -------------    -------------    -------------

<S>                                               <C>             <C>             <C>               <C>              <C>
REVENUE
   Management fees                                       $    -          $3,333           $7,950          $3,333           $16,283
   Consulting fees                                        5,000               -            5,000               -             5,000
                                                         ------          ------           ------          ------           -------
                                                          5,000           3,333           12,950           3,333            21,283

OPERATING EXPENSES
  Salaries                                                1,200           2,400            3,600           4,800            10,800
  Professional fees                                       2,847           3,198           12,249           4,463            17,749
  Director fees                                               -             375              375               -             1,500
  Consulting services                                         -               -                -               -             1,265
  Travel and entertainment                                    -               -            1,312               -             1,312
  Filing fees                                             2,908               -            2,908               -             9,244
  Miscellaneous                                              97             107              529             107             2,432
                                                       ---------       ---------        ---------       ---------         ---------
  Total operating expenses                                7,052           6,080           20,973          10,120            44,302
                                                       ---------       ---------        ---------       ---------         ---------
 (Loss) on operations                                    (2,052)         (2,747)          (8,023)         (6,787)          (23,019)
                                                       =========       =========        =========       =========         =========
Other income (expense)
   Equity in earnings (loss) of investee                      -               -           (1,590)           (667)           (3,257)
   Unrealized gain (loss) on marketable securities       (3,500)         (4,000)         (19,000)        (10,940)          (19,440)
                                                        ---------      ---------        ---------       ---------         ---------
   Total other income (expense)                          (3,500)         (4,000)         (20,590)        (11,607)          (22,697)

Net income (loss)                                        (5,552)         (6,747)         (28,613)        (18,394)          (45,716)
                                                       =========       =========        =========       =========         =========
Earnings (loss) per common share

    Basic                                                 NIL             NIL               NIL            NIL              (0.01)
                                                       =========       =========        =========       =========         =========
    Fully diluted                                         NIL             NIL               NIL            NIL                NIL
                                                       =========       =========        =========       =========         =========
Weighted average number of shares
    Basic                                              5,350,000       3,781,319        5,350,000       3,324,550         4,567,273
                                                       =========       =========        =========       =========         =========
    Fully diluted                                      8,515,000       8,151,319        8,515,000       7,694,550         7,732,273
                                                       =========       =========        =========       =========         =========
</TABLE>



                                        4
<PAGE>

                     PREMIER DEVELOPMENT & INVESTMENT, INC.
                         (A DEVELOPMENT STAGE COMPANY)

                            STATEMENT OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                                                    March 29, 2001     Cumulative
                                                    3-months         3-months         6-months        (inception)        During
                                                      Ended            Ended            Ended           through        Development
                                                     9/30/02          9/30/01          9/30/02          9/30/01           Stage
                                                   (unaudited)      (unaudited)      (unaudited)       (audited)       (unaudited)
                                                  -------------    -------------    -------------    -------------    -------------

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

Cash flows from operating activities:
   Net (loss) earnings                             $  (5,552)       $  (6,747)       $ (28,613)         $ (18,394)        ($45,716)
   Adjustments to reconcile net (loss) to
    cash provided by (used) in operating
    activities:

      Unrealized loss in marketable securities         3,500            4,000           19,000             10,940           19,440
      Equity in (earnings) loss of investee                -                -            1,590                667            3,257
      Common stock issued in connection with
        exercise of stock options for payment
        of expenses                                    2,914                -           10,180                  -           12,214
      Common stock issued in connection with
        services provided by directors                     -                -                -              1,500            1,500
      Common stock issued in connection with
        services provided by consultants                   -                -                -              1,250            1,250
      Donated services of officers                     1,200            2,400            3,600              4,800           10,800
   Decrease (increase) in current assets:
      Prepaid expenses                                     -              375              375               (750)               -
   Increase (decrease) in current liabilities:
      Accounts payable                                     -                -                -                 15                -
                                                    --------         --------         --------           --------         --------
   Net cash provided by (used) in operations           7,614            6,775           34,745             18,422           48,461

Cash flow from financing activities:
      Loan from related party                              -              300                -                300                -
      Loan to affiliate                               (2,500)               -           (2,500)                 -           (2,500)
      Investment in affiliate                         (5,000)               -           (5,000)                 -           (5,000)
                                                    --------         --------         --------           --------         --------
Net cash provided by (used) in financing              (7,500)             300           (7,500)               300           (7,500)

Net increase (decrease) in cash                     $ (5,438)         $   328         $ (1,368)          $    328          $ 4,755

Cash at beginning of the period                       10,193                -            6,123                  -                -

Cash at end of the period                           $  4,755         $    328         $  4,755           $    328         $  4,755
                                                    ========         ========         ========           ========         ========
</TABLE>


                                        5
<PAGE>

Supplemental disclosure of a non-cash investing and financing activity:

    The Company issued 350,000 shares of its common stock, class A, $0.001 par
    value in conjunction with the acquisition of 50,000 shares of Inform
    Worldwide Holdings, Inc. (IWWH)

    The Company issued 1,000,000 shares of its common stock, class A, $0.001 par
    value in conjunction with the acquisition of a 20% interest in Coconut Grove
    Group, Ltd., a joint venture project.

    The Company provided consulting services to an affiliated entity, Restaurant
    Training Corporation valued at $5,000.  The Company received 200,000 shares
    of stock in Restaurant Training Corporation in lieu of cash resulting in a
    valuation of $0.025 for each share received.  These shares represent an
    aggregate ownership of 4.0% of the total 5,000,000 issued and outstanding
    shares of common stock in Restaurant Training Corporation.



                                        6
<PAGE>

                                       PREMIER DEVELOPMENT & INVESTMENT, INC.
                                            (A DEVELOPMENT STAGE COMPANY)
                                          STATEMENT OF STOCKHOLDERS' EQUITY
                                    MARCH 29, 2001 (INCEPTION) TO JUNE 30, 2002

<TABLE>
<CAPTION>


                                                                     DEFICIT
                                                                   ACCUMULATED
                                                                   DURING THE
                                         COMMON STOCK    PAID-IN   DEVELOPMENT
                                     SHARES     AMOUNT   CAPITAL      STAGE        TOTAL
                                   ----------  --------  -------  ------------  ----------
<S>                                <C>         <C>       <C>       <C>           <C>
BALANCE, MARCH 29, 2001
 (INCEPTION)                               -   $      -  $      -  $          -  $       -

 Issuance of common stock
   to directors for services       1,500,000   1,500            -             -      1,500

  Issuance of common stock
   to consultants for services     1,250,000   1,250            -             -      1,250

  Issuance of common stock
    in connection with acquisition
    of marketable securities         350,000     350       23,090             -     23,440

  Issuance of common stock
    in connection with the
    investment in Coconut
    Grove Group, Ltd.              1,000,000    1,000      59,000             -     60,000

  Issuance of common stock
    in connection with the
    exercise of stock options      1,250,000    1,250      61,250             -     62,500

  Donated services by officers             -          -     7,200             -      7,200

  Net loss during period                   -          -         -       (17,103)   (17,103)
                                ------------- -----------  --------  ------------  --------

BALANCE, DECEMBER 31, 2001         5,350,000  $  5,350  $ 150,540     $ (17,103)  $ 138,787
                                   ========== ========= =========  =============  =========

  Donated services by officers             -          -    3,600             -       3,600

Net loss during period                     -          -        -       (28,613)    (28,613)
                                ------------- -----------  --------  ------------  --------

BALANCE, JUNE 30, 2002             5,350,000  $ 5,350  $ 154,140     $ (45,716)  $ 113,774
                                   ========== ========= =========  =============  =========

</TABLE>




                                        7
<PAGE>

                     PREMIER DEVELOPMENT & INVESTMENT, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2002
                                   (unaudited)


NOTE  A  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

Nature of Operations
--------------------

Premier Development & Investment, Inc., ("Premier") a Nevada corporation
organized on March 29, 2001, is a development stage company, and as such has
devoted most of its efforts since inception to developing its business plan,
issuing common stock, raising capital, establishing its accounting systems and
other administrative functions.

Premier's strategy is to be a developer and operator of theme based restaurants
and bars.

Interim  Unaudited  Financial  Statements
--------------------------------------

The interim financial statements are unaudited and reflect all adjustments
(consisting only of normal recurring adjustments) which are, in the opinion of
management, necessary for a fair presentation of the financial position and
operating results for the interim periods.  The results of operations for the
three months ended September 30, 2002 are not necessarily indicative of the
results for the entire fiscal year.  The financial statements included herein
are presented in accordance with the requirements of Form 10-QSB and
consequently do not include all of the disclosures normally made in the
registrant's annual Form 10-KSB filing.  These financial statements should be
read in conjunction the with audited financial statements and notes thereto
contained in the Company's Amended Annual Report for the fiscal year ended on
December 31, 2001 filed on Form 10-KSB/A on April 19, 2002.

Going Concern
-------------

The Company's financial statements are prepared using 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 incurred losses from its inception on March 29, 2001
through September 30, 2002.  The Company does not have an established source of
revenues sufficient to cover its operating costs and, accordingly, there is
substantial doubt about its ability to continue as a going concern.

In order to develop an established source of revenues, and achieve a profitable
level of operations, the Company will need, among other things, additional
capital resources.  Management has formulated a plan to raise additional funding
though the future sales of its Inform Worldwide Holdings, Inc. (OTCBB: IWWH) and
Restaurant Training Corporation (currently registering itself with the
Securities and Exchange Commission) common stock, anticipated revenues generated
from the Company's ownership and management fees associated with its Coconut
Grove Group, Ltd. joint venture project, and continued contributions from the
executive officers and members of the Board of Directors and Advisory Board,
along with any potential net proceeds from the anticipated exercise of some, or
all, of the Company's issued and


                                        8
<PAGE>

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)


outstanding warrants.  All together these events should allow the Company to
meet its forecasted working capital and capital expenditures through the end of
the fiscal year ending on December 31, 2003.  However, management cannot provide
any assurances that the Company will be successful in accomplishing any of its
plans.

The ability of the Company to continue as a going concern is dependent upon its
ability to successfully accomplish the plan described in the preceding paragraph
and eventually attain profitable operations.  The accompanying financial
statements do not include any adjustments that might be necessary if the Company
is unable to continue as a going concern.

Marketable Securities
---------------------

Premier's security investments that were acquired in conjunction with the
issuance of its common stock are held principally for the purpose of selling
them in the near-term and are classified as trading securities.  Trading
securities are recorded at fair value on the balance sheet in current assets,
with the change in fair value during the period included in operations.

Investment in Investee
----------------------

Premier issued 1,000,000 shares of its Class A voting common stock for a 20%
interest in Coconut Grove Group, Ltd.  This investment is accounted for using
the equity method which is cost, as adjusted for Premier's proportionate share
of undistributed earnings or losses as Premier can exercise significant
influence over the financial and operating activities of Coconut Grove Group,
Ltd.

Investment in Affiliate
-----------------------

Premier performed consulting services valued at $5,000 for the benefit of
Restaurant Training Corporation, a privately held service corporation.  In lieu
of a cash payment Premier received 200,000 shares of Restaurant Training common
stock which were valued at $0.025 for each share of common stock received and
represent an aggregate ownership of 4.0% of Restaurant Training's total issued
and outstanding shares (5,000,000) of common stock.  Restaurant Training is
currently in the process of registering itself with the Securities and Exchange
Commission.  Upon completion of the registration process it intends to apply for
a listing on the OTC Bulletin Board.

Use of Estimates
----------------

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.


                                        9
<PAGE>

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)


Income Taxes
------------

Premier records its federal and state tax liability in accordance with Financial
Accounting Standards Board Statement No. 109 "Accounting for Income Taxes".  The
deferred taxes payable are recorded for temporary differences between the
recognition of income and expenses for tax and financial reporting purposes,
using current tax rates.

Deferred assets and liabilities represent the future tax consequences of those
differences, which will either be taxable or deductible when the assets and
liabilities are recovered or settled.

Since its inception, Premier has an accumulated loss of $45,716 for income tax
purposes, which can be used to offset future taxable income through 2016.  The
potential tax benefit of this loss is estimated as follows:

          Future tax benefit                         $      6,857
          Valuation allowance                              (6,857)
          Net tax benefit                            $          0

As of September 30, 2002, no deferred tax assets or liabilities are recorded in
the accompanying financial statements.

Earnings per Share
------------------

On March 3, 1997, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standard No. 128, "Earnings Per Share", which provides for
the calculation of Basic and Diluted earnings per share.  Basic earnings per
share includes no dilution and is computed by dividing income or loss available
to common stockholders by the weighted average number of common shares
outstanding for the period.  Diluted earnings per share reflects the potential
dilution of securities that could share in the earnings of the entity.

Premier adopted this pronouncement during the period and as such reported the
basic earnings per share, based on the weighted average number of shares
outstanding, and the fully diluted earnings per share as though all shares of
Class A common stock issuable by Premier were outstanding, which includes
3,000,000 warrants to purchase common stock and 165,000 options to purchase
common stock.

Advertising Costs
-----------------

Premier expenses the production costs of advertising the first time the
advertising takes place.

Fiscal Year
-----------

The Company elected December 31 as its fiscal year end.


                                       10
<PAGE>

NOTE B - INVESTMENT IN INVESTEE

In connection with Premier's investment in Coconut Grove Group, Ltd., condensed
financial information of the investee for the nine-months ended September 30,
2002 is as follows:

Sales                                                 $     0
Gross Profit                                          $     0
Net income (loss) from continuing operations          $(7,950)
Net income (loss)                                     $(7,950)


NOTE C - STOCK REGISTRATION

Premier has filed a registration statement with the Securities and Exchange
Commission which was declared effective November 13, 2001, to register 6,735,000
shares of its $.001 par value Class A voting common stock on behalf of its
stockholders'.  In connection with the selling stockholders' registration and
the incremental difference between the option and warrant exercise price
compared to recent issuances of Premier's common stock, any offering costs
(consisting of legal, accounting and filing fees) were expensed as the benefit
to the selling stockholders' and the incremental difference between the option
and warrant exercise price compared to recent issuances of Premier's common
stock do not allow the capitalization of such costs.

NOTE D - STOCK, WARRANT AND OPTION ISSUANCES

On March 29, 2001, 500,000 shares of Premier's $.001 par value Class A voting
common stock and an option to purchase 250,000 shares of Premier's Class A
voting common stock at a purchase price of five cents ($0.05) per share was
issued to each director as compensation, in lieu of cash, for services.  The
stock was issued under the provisions of Rule 144 of the Securities Act of 1933,
as amended.  The options vest immediately and expire on the fifth anniversary of
the date of their issuance.

On March 29, 2001, 250,000 shares of Premier's $.001 par value Class A voting
common stock and an option to purchase 250,000 shares of Premier's Class A
voting common stock at a purchase price of five cents ($0.05) per share was
issued to an unrelated entity for consulting services.  The stock was issued
under the provisions of Rule 144 of the Securities Act of 1933, as amended.  The
options vest immediately and expire on the fifth anniversary of the date of
their issuance.

In addition, this entity was granted 500,000 warrants to purchase the same
number of Premier's $.001 par value Class A voting common stock at a purchase
price of four dollars ($4.00) per share.  The warrants expire on December 31,
2003.

On March 29, 2001, 250,000 options to purchase the same number of Premier's
$.001 par value Class A voting common stock at a purchase price of five cents
($0.05) per share was issued to an unrelated entity to develop an investor
relations program.  The options vest immediately and expire on the fifth
anniversary of the date of their issuance.

On March 29, 2001, 1,000,000 shares of Premier's $.001 par value Class A voting
common stock was issued to several unrelated entities for consulting services
provided to Premier.  The stock was issued under the provisions of Rule 144 of
the Securities Act of 1933, as amended.

                                       11
<PAGE>

NOTE D - STOCK, WARRANT AND OPTION ISSUANCES (CONTINUED)


On March 31, 2001, 350,000 shares of Premier's $.001 par value Class A voting
common stock and 500,000 warrants to purchase the same number of Premier's $.001
par value Class A voting common stock at a purchase price of four dollars
($4.00) per share were issued in conjunction with the acquisition of 50,000
shares of Inform Worldwide Holdings, Inc.(OTC "IWWH") from two separate
unrelated entities under a stock purchase agreement.  The stock was issued under
the provisions of Rule 144 of the Securities Act of 1933, as amended.  The
warrants, which may be redeemed by  Premier under certain restrictions, expire
on December 31, 2003.

On May 15, 2001, 15,000 options to purchase the same number of Premier's .001
par value Class A voting common stock at a purchase price of two dollars ($2.00)
per share were issued to each member of the nine person advisory board to assist
Premier on specific matters as they related to the individual board members
expertise.  The options vest immediately and expire on the third anniversary of
the date of their issuance.

On May 15, 2001 Premier issued 2,000,000 warrants in the form of a stock
dividend to all shareholders of record on May 15, 2001.  The warrants would be
divided equally based upon the number of Class A shares held.  Each warrant is
exercisable into a share of the Company's Class A voting common stock at a price
of four dollars ($4.00) per share.  The warrants, which may be redeemed by
Premier under certain restrictions, expire on December 31, 2003.

In conjunction with all of the above outstanding issues of Premiers' $.001 par
value Class A voting common stock, it was agreed that all insiders of Premier,
including, but not limited to, officers, directors, and employees, shall enter
into a binding Stock Lock-Up Agreement preventing the sale of any Class A voting
common stock of Premier for a minimum of one-hundred eighty (180) days after the
date that Premier's Class A voting common stock makes its first trade on the OTC
Bulletin Board.

On July 30, 2001, 1,000,000 shares of Premier's $.001 par value Class A voting
common shares were issued in conjunction with receiving a 20% interest in
Coconut Grove Group, Ltd (the "Venture").  The stock was issued under the
provisions of Rule 144 of the Securities Act of 1933.  Premier will be involved
in the day-to-day activities of the Venture, and will receive a quarterly fee
equal to the greater of 1.5% of the Venture's net profits or $5,000.  Profits
will be allocated based upon ownership interests after withholding 35% for
growth and expansion.  Losses will be allocated and owing based upon ownership
interest.

On November 30, 2001, owners of 750,000 of the $.05 stock options exercised the
options.  In connection with the exercise of the options, Premier was issued
promissory notes in the amount of $36,000 in lieu of cash.  In addition, owners
of 500,000 of the $.05 stock options exercised the options.  In connection with
the exercise of these options, the entities elected to remit payment for some
goods and services received by Premier in lieu of payment of cash to Premier.
In both instances, the amount of non-cash payment to Premier is shown as a
reduction in stockholder's equity as common stock subscribed.

On April 12, 2002, Premier issued an aggregate of 45,000 options (15,000 to each
member of its three person Board of Directors) to purchase shares of Premier's
Class A voting common stock at a purchase price of three-dollars ($3.00) per
share.  These options, issued to each director and officer as compensation, in
lieu of cash, for services, were "out-of-the-money" when issued and therefore
were recorded

                                       12
<PAGE>

NOTE D - STOCK, WARRANT AND OPTION ISSUANCES (CONTINUED)

as having no value at the time of issue.  The options vested immediately and
expire on the fifth anniversary of the date of their issuance.


NOTE E - RELATED PARTY TRANSACTIONS

Premier utilizes a portion of a director's personal residence as its primary
office without charge.

NOTE F - DONATED SERVICES

For the period ended September 30, 2002, Eric R. Boyer, Premier's President and
Chief Executive Officer, performed services on behalf of Premier with a fair
market value of $600 and Victoria Carlton, Premier's Secretary and Treasurer,
performed services on behalf of Premier with a fair value of $600.  The donated
value of these services was recorded as contributed capital.


Item 2.   Management's Discussion and Analysis or Plan of Operation

     You should read the following discussion and analysis of our financial
condition and results of operations together with our financial  statements and
related notes appearing elsewhere in this quarterly report.  This discussion and
analysis contains forward-looking statements that involve risks, uncertainties
and assumptions.  When used in this document, the words "anticipate", "believe",
"estimate", "expect" and "intend" and similar expressions, as they relate to us,
are intended to identify forward-looking statements.  Such statements reflect
our current view(s) regarding future events and are subject to certain risks,
uncertainties and assumptions, including the risks and uncertainties noted.
Should  one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from
those described herein as anticipated, believed, estimated, expected or
intended.  In each instance, forward-looking information should be considered in
light of the accompanying meaningful cautionary statements herein.

Overview

     We are a developer and operator of theme-based restaurants and bars.  Since
our inception on March 29, 2001, we have operated as a development stage
company.

Results of Operations

     For the ease of reference, we refer to the three months ended September 30,
2002 as the quarter ended September 30, 2002 and the period of nine-months ended
September 30, 2002 as the nine-months ended September 30, 2002.  Additionally,
we refer to the three months ended September 30, 2001 as the quarter ended
September 30, 2001 and the period of March 29, 2001 (inception) through
September 30, 2001 as the nine-months ended September 30, 2001.  We reference
the current fiscal year which ends on December 31, 2002 as fiscal 2002 and the
upcoming fiscal year which will end on December 31, 2003 as fiscal 2003.


                                       13
<PAGE>

Revenues

     For the quarter ended September 30, 2002, we generated revenues of $5,000
which was a 50.0% increase when compared to the $3,333 in revenue we generated
for the quarter ended September 30, 2001.  These revenues were generated
entirely from consulting fees.  We received no management fees during the
quarter ended September 30, 2002 for being the Managing Partner of Coconut Grove
Group, Ltd., a joint venture project 20% owned by us.

     For the nine-months ended September 30, 2002, we generated revenues of
$12,950 which was a 288.5% increase when compared to the $3,333 revenue we
generated for the nine-months ended September 30, 2001.  These revenues were all
generated entirely from consulting fees and management fees associated with
being the Managing Partner of our Coconut Grove Group joint venture project.

     We do not anticipate generating any revenues from management fees
associated with being the Managing Partner of our Coconut Grove Group joint
venture project during the current fiscal quarter ending December 31, 2002.
This is by mutual agreement with our joint venture partner, Tiki Hut
Enterprises, Ltd., as a result of the delays incurred in the progress and
development of the joint venture project as a result of changes in our
management earlier this fiscal year and continuing delays with our pending
listing on the over-the-counter bulletin board (OTCBB).

Because of recent progress associated with our pending listing and discussions
with our joint venture partner, we now anticipate generating management fees
equivalent to half the amount we would ordinarily receive during the fiscal
quarter ending March 31, 2003.  This reduced amount is anticipated to equal
$2,500.  For each fiscal quarter thereafter we shall receive the full amount we
are entitled to receive which is a minimum of $5,000 for each quarter.  Thus, we
anticipate receiving minimum aggregate management fees of $17,500 during the
course of fiscal 2003.

Expenses

     Operating Expenses.  Our operating expenses consisted primarily of
personnel expenses, professional fees, consulting fees and filing fees, and
aggregated $7,052 for the quarter ended September 30, 2002.  This represented an
increase of $972, or 16.0%, compared to $6,080 for the quarter ended September
30, 2001.

     For the nine-months ended September 30, 2002, our operating expenses
totaled $20,973, an increase of $10,853, or 107.2%, compared to $10,120 for the
nine-months ended September 30, 2001.  The increase was primarily attributed to
operating for a full nine-months versus a partial nine-month period, as well as
increased costs associated with exploring prospective new joint venture and
consulting projects and continuing expenses related to maintaining compliance
with Securities and Exchange Commission (SEC) reporting requirements and working
with the National Association of Securities Dealers (NASD) towards our pending
over-the-counter bulletin board (OTCBB) listing.

     Other Expenses.  We experienced another decline in the value of our
holdings of marketable securities, which consist of 50,000 shares of Inform
Worldwide Holdings, Inc. (OTCBB: IWWH), during the quarter ended September 30,
2002 and the nine-months ended September 30, 2002 of ($3,500), or (46.7%), and
($19,000), or (82.6%), respectively.  The shares of Inform Worldwide were quoted
at $0.08 a share on September 30, 2002, which represents an aggregate loss of
($19,440), or (82.9%) from our acquisition price of $23,440, or $0.4688 per
share of IWWH acquired on March 31, 2001.  This decline in Inform Worldwide
share value was recorded as an unrealized loss on our statement of operations.


                                       14
<PAGE>

     We also recorded an expenses of ($1,590) and ($667) for the nine-months
ended September 30, 2002 and the nine-months ended September 30, 2001,
respectively.  These expenses were to write-down the decline in value associated
with our ownership in the Coconut Grove Group, Ltd. joint venture project.
Because the joint venture project has been on hold there were no such expenses
or income associated with it during the quarters ended September 30, 2002 and
September 30, 2001.  We are accounting for our ownership using the equity method
of accounting.  Our write-downs reflect our 20% ownership in the joint venture
project.

Operating Loss

     Our operating loss for the quarter ended September 30, 2002 was ($2,052),
which represents a improvement of $695, or 25.3%, compared to an operating loss
of ($2,747) for the quarter ended September 30, 2001.  This improvement is the
result of increased revenues which offset the increased operating expenses.

     For the nine-months ended September 30, 2002 our operating loss increased
$1,236, or 18.2%, to ($8,023) compared to ($6,787) for the nine-months ended
September 30, 2001.  This increase was attributable primarily to fact we were
operational during the entire nine-months ended September 30, 2002 and were not
operational for a full nine-months during the nine-months ended June 30, 2001.
Also contributing to the larger increase in operating loss were increases in
expenses to maintain compliance with Securities and Exchange Commission (SEC)
rules and regulations and new National Association of Securities Dealers (NASD)
filing fees associated with our pending listing on the over-the-counter bulletin
board (OTCBB) system.

Net Loss

     We experienced a net loss of ($5,552), or NIL per share, for the quarter
ended September 30, 2002, which represents a decrease of $1,195, or 17.7%,
compared to a net loss of ($6,747), or NIL per share, for the quarter ended
September 30, 2001.  Our net loss for the nine-months ended September 30, 2002
was ($28,613), or NIL per share, which represents an increase of $10,219, or
55.6%, compared to ($18,394), or NIL per share, for the nine-months ended
September 30, 2002.  The improvement in net loss for the quarter ended September
30, 2002 was the result of higher revenues offsetting increased expenses.  The
larger net loss for the nine-months ended September 30, 2002 was attributed
primarily to a steep decline in the value of our Inform Worldwide Holdings, Inc.
common stock holdings, increases in our general operating expenses, and a
decrease in the equity value of our Coconut Grove Group joint venture project.

Liquidity and Capital Resources

     Since our inception on March 29, 2001, we have financed our operating
activities through private offerings of our equity securities and the personal
contributions of our executive officers.  Net cash decreased ($5,438) for the
quarter ended September 30, 2002 compared to an increase of $328 for the quarter
ended September 30, 2001.  Net cash decreased ($1,368) for the nine-months ended
September 30, 2002 compared to an increase of $328 for the nine-months ended
September 30, 2001.  The primary reason for negative cash flow experienced for
the quarter and nine-months ended September 30, 2002 was $7,500 in loans and
investments made in Restaurant Training Corporation, an affiliate corporation we
hold a 4% ownership in equity.  We anticipate positive cash flow returning
either in the current fiscal quarter or the fiscal quarter ending March 31,
2003.


                                       15
<PAGE>

     As of September 30, 2002, we had current assets aggregating $8,755,
comprised of $4,755 in cash or cash equivalents and marketable securities
consisting of 50,000 shares of Inform Worldwide Holdings, Inc. (OTC: IWWH)
valued at $4,000.  Although we had been planning on selling a significant
portion, if not all, of our Inform Worldwide holdings during the current fiscal
quarter, our management has determined it is in our best interest to postpone
any sales until market conditions improve.  We intend to sell most, if not all,
of these holdings as soon as practical upon improvements in market conditions.
The amount of the net proceeds will receive from the sales of these marketable
securities cannot be predicted at this time.

     As of September 30, 2002 we had other assets aggregating $64,243, comprised
of a $5,000 investment and $2,500 loan to Restaurant Training Corporation, an
affiliate company, and a $56,743 investment in our Coconut Grove Group, Ltd.
joint venture project.  This asset is accounted for using the equity method and
experienced a decrease in value of ($1,590) during the nine-months ended
September 30, 2002.  Our initial investment in this joint venture project was
valued at $60,000.

     As of September 30, 2002, we had no liabilities, financial obligations or
commitments outstanding.  Furthermore, we do not anticipate taking on any
material financial obligations or commitments that are not commensurate with
increases in revenues and gross subsequent profits.


Plan of Operation

General

     We are a development stage company in the early stages of conducting
operations.  Our plan of operation is to invest in and develop a series of
theme-based restaurant and bar properties that can evolve into stand alone
chains or franchise opportunities.  Because we have limited investment capital
and restricted access to capital markets, our strategy for initial operations is
to develop new restaurant and bar concepts through joint ventures, equity
investments or partnership agreements.

     By limiting the scope of our initial operations to joint ventures, equity
investments and partnership agreements, we will be able to:

-     reduce our financial risk by sharing in the development and marketing
costs typically associated with opening new restaurants and bars;

-     generate secondary or alternative revenue streams by providing
professional restaurant and bar management consulting services through the
collective expertise of our diverse management team; and

-     better diversify our restaurant and bar portfolio to minimize our risk
exposure to any single operation or concept.

Early Capitalization

     On March 31, 2001, one of our consultants, Stag Financial Group, Inc.,
negotiated an equity exchange between ourselves and two investors in a third
party company, Inform World Wide Holdings, Inc. ("Inform").  Inform is publicly
listed on the OTC Bulletin Board under the trading symbol IWWH.  Under the terms
of the exchange, we received an aggregate of 50,000 shares of restricted Inform
common stock in exchange for an aggregate of 350,000 restricted shares of our


                                       16
<PAGE>

common stock, class A, and 500,000 warrants exercisable into shares of our
common stock, class A, at an exercise price of $4.00 per share: the first
investor, Tin Hong Trading Company, transferred 20,300 shares of Inform common
stock to us in exchange for 142,100 shares of our common stock and 203,000
warrants; and the second investor, Olympus Imports & Exports, Ltd., transferred
29,700 shares of Inform common stock to us in exchange for 207,900 shares of our
common stock and 297,000 warrants.  Our shares of Inform common stock became
unrestricted on December 18, 2001.

     The purpose of this stock exchange was to provide some capitalization to
our developing business and enhance our overall balance sheet.  At the time of
the transaction we had no assets and no book value.  Upon the conclusion of the
transaction we had gained assets valued at $23,440, giving us a positive book
value and enhancing our overall appeal to prospective investors and joint
venture partners.

We booked our holdings in Inform at $23,440; Tin Hong Trading Company's equity
in us was valued at $9,517 and Olympus Imports & Exports, Ltd's equity in us was
valued at $13,923.  Long-term this equity exchange should benefit us in our
future efforts to attract outside debt and/or equity financing to grow our
business.  This stock exchange also benefited both investors by providing them
with an avenue to diversify a small portion of their holdings in Inform.

     As of November 8, 2002 this asset was valued at $3,500 (the last quoted
price for IWWH common stock reported by the OTC Bulletin Board was $0.07 per
share), representing an unrealized loss of ($19,940), or (85.1%).  In general,
since our investment on March 31, 2001, IWWH's common stock has been thinly
traded and the trading we have seen has been somewhat erratic leading to extreme
price movements and tremendous volatility.  We anticipate this volatility will
continue throughout fiscal 2002 and beyond and signigantly impact our quarterly
results until we have liquidated the entire investment.

Joint Venture Developments

     On July 30, 2001, we entered into a joint venture agreement for the
formation of Coconut Grove Group, Ltd., a joint venture that is 20% owned by us
and 80% owned by Tiki Hut Enterprises, Ltd.  The joint venture is initially
being capitalized with a US$3 million cash investment from Tiki Hut Enterprises,
Ltd. and an investment from us of 1,000,000 restricted shares of our common
stock.  None of the joint venture partners are under any obligations to make any
additional capital contributions.

     We are the Managing Partner of this joint venture and, as such, are to
receive a management fee in addition to our share in the joint venture's net
profits.  Our separate management fee is to be two-percent (2%) of the joint
venture's net profits, or US$5,000 per fiscal quarter, whichever is greater.
Our management fee is not to aggregate less than US$20,000 per fiscal year.  Our
out-of-pocket expenses associated with being the Managing Partner are to be
reimbursed by the joint venture.  Because we do not anticipate the joint venture
to begin generating material revenues and net profits until at least the Fall of
fiscal 2003, we anticipate generating minimal management fees of $17,500 in
fiscal 2003 (we are anticipating receiving only half of our scheduled management
fee for the fiscal quarter ending March 31, 2003 as a result of delays in the
joint venture project caused by our changes in management earlier this fiscal
year and delays in obtaining our pending listing on the over-the-counter
bulletin board system).


                                       17
<PAGE>

Employees

     We presently do not have any plans to add any additional employees to our
staff.  We may expand our Board of Directors and/or Advisory Board.  However,
none of the members of our Board of Directors or Advisory Board receives a cash
salary or cash benefits, nor do we have any plans to begin paying cash salaries
or cash benefits to our Board of Directors or Advisory Board members until
recurrent and sustainable profitability is attained.

     We believe that the current efforts from our existing executive officers,
supported by our Board of Directors, outside consultants and Advisory Board
members, will prove satisfactory in enabling us to achieve our current plans of
operation and administering our current obligations as the Managing Partner of
our Coconut Grove Group, Ltd. joint venture project.

Property and Equipment

     We do not foresee any immediate needs to purchase or lease any new or
additional facilities, property or equipment.  We anticipate that any new
property or equipment requirements will be commensurate with new business
developments and subsequent funding and will therefore have a minimal, if any,
impact on our then existing cash flows and/or working capital levels.

Factors That May Affect Future Results

     We believe that our current available cash along with the proceeds, if any,
from the future sale of our marketable securities, the anticipated revenues
generated from our ownership and management fees associated with the Coconut
Grove Group, Ltd. joint venture, continued contributions from our executive
officers and members of our Board of Directors and Advisory Board, and any net
proceeds received from the anticipated exercise of some of our issued and
outstanding warrants should be sufficient to meet our forecasted cash needs for
working capital and capital expenditures through at least end of fiscal 2003.

     For the quarter ended September 30, 2002 and the nine-months ended
September 30, 2002, we were cash flow negative.  We anticipate on returning to
being cash flow positive either during the current fiscal quarter or the fiscal
quarter ending March 31, 2003.

     Additionally, our officers and directors (Eric R. Boyer and Victoria Z.
Carlton) have entered into a verbal agreement by and between themselves to
support our business and provide it with adequate capital on an as needed basis.
We anticipate that our officers and directors may be required to provide up to a
maximum of $80,000 before we begin generating a sufficient cash flow to continue
as a going concern and move beyond being a development stage corporation.  Any
and all advances made by our officers and directors will be unsecured and
non-interest bearing.

     However, if (i) we do not generate enough revenues from our early stage
operations (ii) or the future sales of our marketable securities fail to
generate sufficient net proceeds (iii) or an insufficient number of our warrants
are exercised, singularly or altogether, it may prevent us from further
executing our business plan and cause us to seek additional sources of funding.
While we have held discussions with accredited lenders and investors, we have
not yet secured any secondary sources of funding.  Furthermore, we may seek to
sell additional equity, debt or convertible debt securities.  Our ability to
raise capital by selling securities, and hence our liquidity, could be
materially adversely affected by the general and broad-based unease in the


                                       18
<PAGE>

equities market and the limited availability of venture capital financing
sources.  We cannot assure the reader that financing will be available and, if
available to us, in amounts necessary or on terms acceptable to us in the
future.


                           PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

None


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

Item 6.  Exhibits and Reports on Form 8-K

(A)     Exhibits
        --------

99.1    Certification by CEO pursuant to 18 U.S.C. Section 1350, as adopted
        pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.


(B)     Reports on Form 8-K
        -------------------

        None


SIGNATURES

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

                                   Premier Development & Investment, Inc.
                                   (Registrant)



Dated: November 14, 2002               By: /s/ Eric R. Boyer
                                       --------------------
                                       Eric R. Boyer
                                       President and CEO


                                       19
<PAGE>

Exhibit 99.1

                    CERTIFICATION OF CHIEF EXECUTIVE OFFICER
                       PURSUANT TO 18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Restaurant Training Corporation (the
"Company") on Form 10-QSB for the period ending September 30, 2002 as filed with
the Securities and Exchange Commission on the date hereof (the "Report"), I,
Victoria Z. Carlton, President and Chief Executive Officer of the Company,
certify, pursuant to 18 U.S.C. ss.1350, as adopted pursuant to ss.906 of the
Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material
respects, the financial condition and result of operations of the Company.

IN WITNESS WHEREOF, the undersigned has executed this certification as of this
14th day of November, 2002.



/s/ Eric R. Boyer
-------------------------------
Eric R. Boyer
President and CEO
Premier Development & Investment, Inc.




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<PAGE>