<PAGE>


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

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

For the quarterly period ended _______________________________

                                       OR

X  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
-

For the transition period from January 1, 2001 to March 31, 2001

                         Commission file number 0-30756

                                  QUESTEC, INC.
                                  -------------
                 (Name of Small Business Issuer in Its Charter)

         Wyoming                                      13-1713318
-------------------------------                   -------------------
(State or other jurisdiction of                    (I.R.S. Employer
incorporation or organization)                    Identification No.)


160B West Industry Court, Deer Park, New York            11729
---------------------------------------------          ----------
(Address of principal executive office)                (Zip Code)

Issuer's telephone number, including area code (631) 243-1880
                                               --------------

     The number of shares outstanding of registrant's common stock, as of
December 31, 2000, was 32,371,893.

     Transitional Small Business Format:  Yes  X          No
                                              ---            ---



<PAGE>



CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain statements contained under "Description of Business", and elsewhere in
this Registration Statement on Form 10-QSB, regarding matters that are not
historical facts, are "forward-looking statements". Because such forward-looking
statements include risks and uncertainties, actual results may differ materially
from those expressed in or implied by such forward-looking statements. There are
several important factors that could cause actual results to differ materially
from those anticipated by the forward-looking statements contained in such
discussions. We undertake no obligation to release publicly the result of any
revisions to these forward-looking statements that may be made to reflect events
or circumstances after the date of this Form 10-QSB or to reflect the occurrence
of unanticipated events.


The issuer has elected to follow Form 10-QSB, Disclosure Alternative 2.

                         Part I - FINANCIAL INFORMATION

Item 1. Financial Statements.


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<TABLE>
<CAPTION>


                   QUESTEC, INC. (FORMERLY QUESTEC.COM, INC.)

                                    CONTENTS
____________________________________________________________________________________

                                                                                Page
                                                                                ----
<S>                                                                              <C>
UNAUDITED FINANCIAL STATEMENTS

  Balance Sheets as of March 31, 2001 and June 30, 2000                          F-2

  Statements of Operations - For the Three Months Ended March 31, 2001 and 2000  F-3

  Statements of Operations - For the Nine Months Ended March 31, 2001 and 2000   F-4

  Statements of Cash Flows - For the Nine Months Ended March 31, 2001 and 2000   F-5

Notes To Financial Statements                                                    F-6

</TABLE>

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<TABLE>
<CAPTION>



                   Questec, Inc. (Formerly Questec.Com, Inc.)
                                 Balance Sheets
---------------------------------------------------------------------------------------------------------------------------
                                     ASSETS
                                                                                         March 31,           June 30,
                                                                                            2001               2000
                                                                                        (Unaudited)          (Audited)
                                                                                        -----------         -----------
<S>                                                                                   <C>                 <C>
CURRENT ASSETS:
 Cash                                                                                 $     38,132        $      3,007
 Accounts receivable, net                                                                   64,327              51,175
 Note receivable                                                                            18,048              10,000
 Prepaid expenses and other current assets                                                   5,960               6,467
                                                                                      -------------       -------------
  Total Current Assets                                                                     126,467              70,649
PROPERTY AND EQUIPMENT, Net                                                                173,282             183,416
OTHER ASSETS:
 Software development Costs, net of accumulated amortization of $217,148
  and $135,254, respectively                                                               219,619             301,513
                                                                                      -------------       -------------
  TOTAL ASSETS                                                                        $    519,368        $    555,578
                                                                                      =============       =============

                      LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
 Accounts payable                                                                     $    197,501        $    195,072
 Accrued liabilities, current portion                                                    1,019,930             864,873
 Note payable, bank                                                                          9,491               9,980
 Advances from stockholders                                                                190,462              79,320
                                                                                      -------------       -------------
  Total Current Liabilities                                                              1,417,384           1,149,245
OTHER LIABILITIES:
 Accured liabilities, non-current portion                                                       --              68,667
                                                                                      -------------       -------------
  TOTAL LIABILITIES                                                                      1,417,384           1,217,912
                                                                                      -------------       -------------
COMMITMENTS AND CONTINGENCIES                                                                   --                  --
STOCKHOLDERS' DEFICIT:
 Preferred stock, $0.0001 par value, 20,000,000 shares authorized,
  none issued and outstanding                                                                   --                  --
 Common stock, $0.0001 par value, 80,000,000 shares authorized,
  33,307,893 and 31,571,643 shares issued and outstanding, respectively                      3,331               3,157
 Additional paid-in capital                                                             10,266,741           9,844,295
 Accumulated deficit                                                                   (11,168,088)        (10,509,786)
                                                                                      -------------       -------------
  TOTAL STOCKHOLDERS' DEFICIT                                                             (898,016)           (662,334)
                                                                                      -------------       -------------
  TOTAL LIABILITIES AND STOCKHOLDER'S DEFICIT                                         $    519,368        $    555,578
                                                                                      =============       =============
</TABLE>

                                       F-2
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<TABLE>
<CAPTION>

                   QUESTEC, INC. (FORMERLY QUESTEC.COM, INC.)
                            STATEMENTS OF OPERATIONS
               FOR THE THREE MONTHS ENDED MARCH 31, 2001 AND 2000
                                   (UNAUDITED)
--------------------------------------------------------------------------------------------------
                                                                           2001           2000
                                                                      -------------  -------------
<S>                                                                   <C>            <C>
NET SALES                                                             $     190,000  $      75,000
COST OF GOODS SOLD                                                           42,965         63,134
                                                                      -------------  -------------
    GROSS PROFIT                                                            147,035         11,866
                                                                      -------------  -------------
OPERATING EXPENSES:
 Depreciation and amortization                                               46,049         33,342
 Sales and marketing                                                         13,351         41,262
 General and administrative                                                 282,387        213,231
                                                                      -------------  -------------
    TOTAL OPERATING EXPENSES                                                341,787        287,835
                                                                      -------------  -------------
    OPERATING LOSS                                                         (194,752)      (275,969)
                                                                      -------------  -------------
OTHER INCOME (EXPENSES)
 Interest expense, net                                                         (386)          (168)
 Other income (expense)                                                       3,526         (1,054)
                                                                      -------------  -------------
    TOTAL OTHER INCOME (EXPENSES)                                             3,140         (1,222)
                                                                      -------------  -------------
    LOSS BEFORE INCOME TAXES                                               (191,612)      (277,191)
                                                                      -------------  -------------
INCOME TAXES                                                                     --             --
                                                                      -------------  -------------
    NET LOSS                                                          $    (191,612)  $   (277,191)
                                                                      =============  =============
Net Loss Per Share (Basis and Diluted)                                $       (0.01)  $      (0.01)
                                                                      =============  =============
Weighted Average Common Shares Outstanding                               33,006,449     31,082,943
                                                                      =============  =============
</TABLE>

                                       F-3


<PAGE>



                   QUESTEC, INC. (FORMERLY QUESTEC.COM, INC.)
                            STATEMENTS OF OPERATIONS
                FOR THE NINE MONTHS ENDED MARCH 31, 2001 AND 2000
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                   2001          2000
                                                              ------------  -------------
<S>                                                           <C>           <C>
NET SALES                                                     $    479,302  $     153,312
COST OF GOODS SOLD                                                 149,688        137,531
                                                              ------------  -------------
    GROSS PROFIT                                                   329,614         15,781
                                                              ------------  -------------
OPERATING EXPENSES:
 Depreciation and amortization                                     134,891         90,882
 Sales and marketing                                                95,542        105,963
 General and administrative                                        741,854        529,429
                                                              ------------  -------------
    TOTAL OPERATING EXPENSES                                       972,287        726,274
                                                              ------------  -------------
    OPERATING LOSS                                               (642,673)      (710,493)
                                                              ------------  -------------
OTHER INCOME (EXPENSES)
 Interest expense, net                                             (8,148)        (3,388)
 Other expense, net                                                (7,481)        (1,116)
                                                              ------------  -------------
    TOTAL OTHER EXPENSE                                           (15,629)        (4,504)
                                                              ------------  -------------
    LOSS BEFORE INCOME TAXES                                     (658,302)      (714,997)
INCOME TAXES                                                           --             --
                                                              ------------  -------------
    NET LOSS                                                  $  (658,302)  $   (714,997)
                                                              ============  =============
Net Loss Per Share (Basis and Diluted)                        $     (0.02)  $      (0.02)
                                                              ============  =============
Weighted Average Common Shares Outstanding                     32,138,893     30,483,370
                                                              ============  =============
</TABLE>


                                       F-4


<PAGE>

<TABLE>
<CAPTION>

                   QUESTEC, INC. (FORMERLY QUESTEC.COM, INC.)
                            STATEMENTS OF CASH FLOWS
                FOR THE NINE MONTHS ENDED MARCH 31, 2001 AND 2000
                                   (UNAUDITED)
----------------------------------------------------------------------------------------
                                                                    2001         2000
                                                                -----------  -----------
<S>                                                             <C>          <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
 Net loss                                                       $ (658,302)  $ (714,997)
 Adjustments to reconcile net loss to net cash
  used in operating activities:
   Depreciation and amoritzation                                   134,891       90,882
 Changes in operating assets and liabilities:
   Accounts receivable                                             (13,152)     (55,488)
   Accrued interest on note receivable                                (518)          --
   Accounts payable                                                  2,429        4,111
   Accrued expenses                                                338,791      539,338
                                                                -----------  -----------
      CASH FLOW USED IN OPERATING ACTIVITIES                      (195,861)    (136,154)
                                                                -----------  -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
 Purchases of property and equipment                               (42,357)     (36,948)
 Collections on note receivable                                     10,000           --
 Costs incurred in software development                                 --     (104,568)
                                                                -----------  -----------
      CASH FLOW USED IN INVESTING ACTIVITIES                       (32,357)    (141,516)
                                                                -----------  -----------
CASH FLOWS FROM FINANCING ACTIVITIES
 Proceeds from issuance of common stock                             152,690      112,952
 Net changes in due to stockholders                                 111,142      184,494
 Proceeds from (repayments of) note payable, bank, net                 (489)       2,227
                                                                -----------  -----------
      CASH FLOW PROVIDED BY FINANCING ACTIVITIES                    263,343      299,673
                                                                -----------  -----------
      NET DECREASE IN CASH                                           35,125       22,003
CASH, Beginning                                                       3,007           --
                                                                -----------  -----------
CASH, Ending                                                     $   38,132  $    22,003
                                                                ===========  ===========
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
 Cash paid during the periods for:
  Interest                                                       $    6,230  $     3,388
                                                                ===========  ===========
  Taxes                                                          $       --  $        --
                                                                ===========  ===========
 Non-cash investing and financing activities:
  Exercise of options by reducing liabilities                    $  252,400  $   595,545
                                                                ===========  ===========
  Exercise of options for note                                   $   17,350  $        --
                                                                ===========  ===========
</TABLE>


                                       F-5


<PAGE>



                   QUESTEC, INC. (FORMERLY QUESTEC.COM, INC.)

                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)
--------------------------------------------------------------------------------

1.  BASIS OF PRESENTATION:

The accompanying unaudited financial statements of Questec, Inc. (Formerly
Questec.Com, Inc.) (the "Company") have been prepared in accordance with
generally accepted accounting principles for interim financial information and
with the instructions to prepare them for inclusion as part of the Form 10QSB.
Accordingly, they do not include all of the information and footnotes required
by generally accepted accounting principles for complete financial statements.
The financial statements for the periods ended March 31, 2001 and 2000 are
unaudited and include all adjustments, which in the opinion of management are
necessary, in order to make the financial statements not misleading. All such
adjustments are of a normal recurring nature. The results of the Company's
operations for any interim period are not necessarily indicative of the results
of the Company's operations for a full fiscal year. For further information,
refer to the financial statements and footnotes thereto included in the
Company's annual report (Form 10KSB) filed with the Securities and Exchange
Commission for the year ended June 30, 2000.

2.  THE COMPANY:

The Company designs, develops and markets proprietary software and hardware
systems, with shared technology bases, which present three-dimensional computer
analyzed images for sports entertainment, business and industrial markets.

3.  INCOME (LOSS) PER SHARE:

The Company adopted SFAS No. 128, "Earnings per Share". SFAS No. 128 eliminates
the presentation of primary and fully dilutive earnings per share ("EPS") and
requires presentation of basic and diluted EPS. Basic EPS is computed by
dividing income (loss) available to common stockholders by the weighted-average
number of common shares outstanding for the period. Diluted EPS is based on the
weighted-average number of shares of common stock and common stock equivalents
outstanding for the period. Common stock equivalents are not included in the
computation of diluted EPS for the periods ended March 31, 2001 and 2000 as such
inclusion is antidiluted.

4.   EQUITY TRANSACTION:

During the three months ended September 30, 2000, options to purchase 150,000
shares of common stock were exercised by reducing liabilities of $48,500. The
exercise prices of the options are ranging from $0.21 to $0.38 per share.

During the three months ended December 31, 2000, options and warrants to
purchase 392,750 and 257,500 shares of common stock were exercised,
respectively. The Company received $100,350 in cash, $17,530 in note and
reducing liability of $51,715. The exercise prices of the options and warrants
are ranging from $0.21 to $0.38 per share.

During the three months ended March 31, 2001, options and warrants to purchase
761,000 and 175,000 shares of common stock were exercised, respectively. The
Company received $52,325 in cash for the warrant exercised and reduce liability
of $152,200 for the options exercised. The exercise prices of the options and
warrants are ranging from $0.20 to $0.30 per share.

On January 22, 2001, the Company granted its employees and directors options to
purchase 3,615,000 shares of its common stock at an exercise price of $0.20 per
share. The exercise price is greater than the market price of the Company's
stock on the grant date. Accordingly, no compensation is recorded.


                                       F-6


<PAGE>


                   QUESTEC, INC. (FORMERLY QUESTEC.COM, INC.)

                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)
--------------------------------------------------------------------------------

5.  GOING CONCERN:

As shown in the accompanying unaudited financial statements, the Company
incurred a net loss of $658,302 during the period ended March 31, 2001 and, as
of that date, the Company's current liabilities exceeded its current assets by
$1,290,917 and its total liabilities exceeded its total assets by $898,016.
These factors, as well as the uncertain conditions that the Company faces
relative to capital raising activities, create an uncertainty as to the
Company's ability to continue as a going concern. The Company is working on
raising more capital through public and/or private placement offering, setting
up strategic partners to reduce future development costs, expansion of revenue
earnings for customers utilizing its existing systems and setting up additional
sources of revenue, such as internet services, which require little capital but
potentially generate additional revenue. The ability of the Company to continue
as a going concern is dependent upon the success of the offering or alternative
financing arrangements and expansion of its operations. The unaudited financial
statements do not include any adjustments that might be necessary should the
Company be unable to continue as a going concern.





                                       F-7


<PAGE>


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

The Company has made significant progress in the installation and operation
process of the Company's patented "SuperVision" pitch tracking system (PitchTrax
on FOX Sports Net, FOX Family and FOX FX) into Major League ballparks. During
the first month of the 2001 season, PitchTrax was installed and operated for the
first time in Camden Yards (Baltimore Orioles), Comerica Park (Detroit Tigers),
Enron Field (Houston Astros), Miller Park (Milwaukee Brewers), and PNC Park
(Pittsburgh Pirates). In addition to expanding the Company's onsite presence at
these Major League ballparks. QuesTec is also working to establish its internet
baseball content as a unique real-time feature for live game coverage.
Complementary baseball products such as HitTrax and Player Positioning are
currently being marketed and will only be deployed when contracted.

The Company recently announced a five (5) year Agreement with Major League
Baseball ("MLB") to develop, install and operate the new "Umpire Information
System" (UIS). This new system is an enhanced version of the Company's core
technology which was used to create a state-of-the-art pitch measurement and
reporting system in support of MLB's previously announced strike zone
initiatives. The Company is finalizing beta testing of its new UIS and plans to
roll out six (6) systems by this years All Star Break. As part of this
Agreement, the Company has also been contracted to install, operate, and
maintain the new "Umpire Information System" for the term of the contract. This
new system includes several key modifications to the Company's commercial
PitchTrax product currently licensed exclusively to the FOX Channels Group as
"in-game enhancement" during live television broadcasts of Major League Baseball
games. The UIS is a separate and distinct system than PitchTrax, and requires
the installation of new cabling infrastructure, more advanced and sophisticated
cameras, as well as separate and distinct data capture, quantification and
reporting applications. While the UIS and PitchTrax may operate in the same
venue, they are by no means the same system.

During this quarter, the Company and its new Board of Directors established new,
clear business strategies and principles relating to business development,
operating efficiency, managerial tasks, product pricing, debt reduction and
investor relations. The Board has begun implementing its pure business approach
to running the Company by reshaping its corporate structure, amending the
Company's name to better identify the Company and its products, and increasing
revenues. While the Board considered a private placement during this past
quarter, they opted to suspend that activity for the time being. The

<PAGE>

Company's increasing revenue base and improving cash flow have given the Company
the ability to allow market conditions to improve before considering another
private offering.

The Company has placed a concentrated effort on promoting its technology as it
relates to baseball. The Company's work with FOX and MLB has been the primary
focus during the past five months and will continue to be for the balance of
this fiscal year end June 30, 2001. Marketing of other sports related
technologies such as TennisProView and GolfProView will resume in late summer or
early fall. The shake out of the dot coms and the delays with the deployment of
interactive television have had an impact on the Company's ability to expand its
operations in these fields. While management believes that the current market
conditions in these sectors will improve, they have decided to concentrate the
Company's efforts on existing products, clients and markets.


                                     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.

On February 12, 2001, at a Special Meeting of the Board of Directors of the
Company, the resignations of Michael W. Russo as President of the Company and
Deirdre Gallagher as Secretary of the Company were accepted. Steven B.
Greenfield was elected Chairman of the Board of Directors of the Company, Derek
Donaldson was named President and Bruce Nesenger became Secretary. At such
meeting, the Board of Directors also approved the execution of an agreement
between the Company and Major League Baseball wherein the Company will become
the sole provider of pitch tracking technology to Major League Baseball.

<PAGE>

The Company and MLB have committed to the use of pitch tracking technology at a
minimum of 2,000 games during the next five (5) years. The contract between the
Company and MLB was completed on February 9, 2001, and the system is in
operation effective as of the beginning of the 2001 season in April.

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

(a) Index to Exhibits

    2.  Charter and By-Laws*

    6.  Material Contracts*

    6a. Agreements with Atlantic Aerospace Electronics Corporation dated
        September 9, 1998*

    6b. Agreement with Live Motion Company dated June 9, 1999*

    15. Private Placement Memorandum dated October 1, 1997*

    21. Subsidiaries.

---------------------------
* Incorporated by reference from Form 10-SB filed on March 2, 2000

(b) Reports on Form 8-K.

None.

                                   SIGNATURES
                                   ----------

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

                                            QUESTEC, INC.

May 14, 2001                        By:  /s/ Steven B. Greenfield
                                         ----------------------------
                                         Steven B. Greenfield
                                         Chairman of the Board

May 14, 2001                             /s/ Derek Donaldson
                                         ----------------------------
                                         Derek Donaldson
                                         President


<PAGE>


                                    EXHIBITS

Exhibit 21.  Subsidiaries

Questec.com, Inc., a Delaware corporation, 100% owned by Questec, Inc., the
Registrant, a Wyoming company.