<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

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

For the quarterly period ended November 30, 2001
                                       OR

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

For the transition period from ______________ to _____________

                        Commission file number: 001-25758

                       MULTI-MEDIA TUTORIAL SERVICES, INC.
                       ----------------------------------
            (Name of small business issuer specified in its charter)

             Delaware                                     73-1293914
  ---------------------------------                   -------------------
  (State or other jurisdiction                        (I.R.S. Employer
  of incorporation or organization)                   Identification No.)

                   205 Kings Highway Brooklyn, New York 11223
                   ------------------------------------------
          (Address of principal executive offices, including zip code)

                                  718-234-0404
                                  ------------
                (Issuer's telephone number, including area code)


         Securities registered under Section 12(b) of the Exchange Act:

                                                  Name of each exchange
        Title of each class                       on which registered
         -------------------                       -------------------
               None                                       None

         Securities registered under Section 12(g) of the Exchange Act:


                     Common Stock, $0.01 par value per share
                               Redeemable Warrants
                               -------------------
                                (Title of Class)


<PAGE>

Check whether the issuer: (i) 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 (ii) has been
subject to such filing requirements for the past 90 days. Yes _X_ No ___

The number of shares outstanding of the issuer's Common Stock as of November 30,
2001 was 17,278,429 shares.

Transactional Small Business Disclosure Format (Check one): Yes ___ No _X_

         THIS QUARTERLY REPORT ON FORM 10-QSB (THE "REPORT") MAY BE DEEMED TO
CONTAIN FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995 (THE "REFORM ACT"). FORWARD-LOOKING STATEMENTS IN
THIS REPORT OR HEREAFTER INCLUDED IN OTHER PUBLICLY AVAILABLE DOCUMENTS FILED
WITH THE SECURITIES AND EXCHANGE COMMISSION (THE "COMMISSION"), REPORTS TO THE
COMPANY'S STOCKHOLDERS AND OTHER PUBLICLY AVAILABLE STATEMENTS ISSUED OR
RELEASED BY THE COMPANY INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER
FACTORS WHICH COULD CAUSE THE COMPANY'S ACTUAL RESULTS, PERFORMANCE (FINANCIAL
OR OPERATING) OR ACHIEVEMENTS TO DIFFER FROM THE FUTURE RESULTS, PERFORMANCE
(FINANCIAL OR OPERATING) OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH
FORWARD-LOOKING STATEMENTS. SUCH FUTURE RESULTS ARE BASED UPON MANAGEMENT'S BEST
ESTIMATES BASED UPON CURRENT CONDITIONS AND THE MOST RECENT RESULTS OF
OPERATIONS. THESE RISKS INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS SET FORTH
HEREIN, EACH OF WHICH COULD ADVERSELY AFFECT THE COMPANY'S BUSINESS AND THE
ACCURACY OF THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.



<PAGE>
                                             MULTI-MEDIA TUTORIAL SERVICES, INC.
                                                                  AND SUBSIDIARY
                                                      CONSOLIDATED BALANCE SHEET
                        NOVEMBER 30, 2001 (UNAUDITED) AND FEB 29, 2001 (AUDITED)
================================================================================

                                     ASSETS

                                                    NOVEMBER 30,    FEBRUARY 29,
                                                       2001             2001
(UNAUDITED)      (AUDITED)
CURRENT ASSETS
Accounts receivable                                  $ 10,985        $ 45,867
Inventories                                            74,647          82,599
Prepaid income taxes                                    3,453           3,470
Prepaid expenses                                       70,686          70,101
Due from related Party                                   -              1,426
                                                     ---------       ---------

         Total current assets                         159,771         203,463

FURNITURE AND EQUIPMENT, net                           63,366         100,384
INTANGIBLE ASSETS, net                                125,723         175,075
RESTRICTED CASH                                        10,000          10,000
OTHER ASSETS                                           21,420          21,420
                                                     ---------       ---------

                  TOTAL ASSETS                       $380,280        $510,342
                                                     =========       =========


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


                                        2
<PAGE>
<TABLE>

                                                MULTI-MEDIA TUTORIAL SERVICES, INC.
                                                                     AND SUBSIDIARY
                                                         CONSOLIDATED BALANCE SHEET
                      NOVEMBER 30, 2001 (UNAUDITED) AND FEBRUARY 29, 2001 (AUDITED)
===================================================================================

                      LIABILITIES AND STOCKHOLDERS' DEFICIT
<CAPTION>

                                                      NOVEMBER 30,     FEBRUARY 29,
                                                         2001              2001
                                                     -------------    -------------
                                                      (UNAUDITED)       (AUDITED)
<S>                                                  <C>              <C>
CURRENT LIABILITIES
     Book overdraft                                  $     28,686     $     64,442
     Short-term notes payable                           1,466,176        1,430,676
     Convertible promissory notes                         756,890          761,190
     Capital lease obligations                            161,379          180,000
     Due to related party                                   7,344               -
     Accounts payable                                   1,600,722        1,393,355
     Accrued payroll and other expenses                   348,278          328,486
     Accrued interest                                     807,727          656,199
                                                     -------------    -------------

         Total  liabilities                             5,177,202        4,814,349



COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' DEFICIT
     Preferred stock, Series A, $0.01 par value
         1,000,000 shares authorized
         no shares issued and outstanding                       -                -
     Preferred stock, Series B, $0.01 par value
         50 shares authorized
         no shares issued and outstanding                       -                -
     Common stock, $0.01 par value
         20,000,000 shares authorized and
         16,567,287 shares issued and outstanding         165,674          164,574
     Common stock committed, $0.01 par value               53,371           25,920
         Additional paid-in capital                    12,262,466       12,260,266
     Accumulated deficit                              (17,278,433)     (16,754,767)
                                                     -------------    -------------

              Total stockholders' deficit              (4,796,922)      (4,304,007)
                                                     -------------    -------------

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT          $    380,280     $    510,342
                                                     =============    =============
</TABLE>

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

                                        3


<PAGE>

                                             MULTI-MEDIA TUTORIAL SERVICES, INC.
                                                                  AND SUBSIDIARY
                                           CONSOLIDATED STATEMENTS OF OPERATIONS
                                 FOR THE THREE MONTHS ENDED NOVEMBER 30,2001 AND
                        FOR THE THREE MONTHS ENDED NOVEMBER 30, 2000 (UNAUDITED)
================================================================================

                                         FOR THE THREE MONTHS ENDED NOVEMBER 30,


                                                     2001               2000
                                                 -------------     -------------
                                                  (UNAUDITED)       (UNAUDITED)

NET SALES                                        $    519,298      $    567,493

COST OF SALES                                          15,199            11,121
                                                 -------------     -------------

GROSS PROFIT                                          504,099           556,372
                                                 -------------     -------------

OPERATING EXPENSES
     Selling and marketing                            323,224           323,580
     General and administrative                       229,271           236,507
     Depreciation and amortization                     31,625            53,857
      Stock-based compensation                           -               13,000
                                                 -------------     -------------

     Total operating expenses                         584,120           626,944
                                                 -------------     -------------

LOSS FROM OPERATIONS                                  (80,021)          (70,572)
                                                 -------------     -------------

OTHER EXPENSE
     Non-cash interest charges                          6,831             5,599
     Interest expense                                  72,510            90,173
                                                 -------------     -------------

         Total other expense                           79,341            95,772
                                                 -------------     -------------

NET INCOME (LOSS)                                $   (159,362)     $   (166,344)
                                                 =============     =============

BASIC LOSS PER SHARE                             $      (0.01)     $       (.01)
                                                 =============     =============
DILUTED LOSS PER SHARE                           $      (0.01)     $       (.01)
                                                 =============     =============

WEIGHTED AVERAGE SHARES OUTSTANDING                17,228,429        16,282,873
                                                 =============     =============


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

                                        4


<PAGE>
<TABLE>

                                                                                                   MULTIMEDIA TUTORIAL SERVICES,INC
                                                                                                                     AND SUBSIDIARY
                                                                                   CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
                                                                             FOR THE NINE MONTHS ENDED NOVEMBER 30, 2001 (UNAUDITED)
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
                                                Common Stock                Common       Additional
                                       -----------------------------        Stock         Paid-In       Accumulated
                                            Shares          Amount        Committed       Capital         Deficit          Total
                                       -------------   -------------   -------------   -------------   -------------   -------------
<S>                                    <C>             <C>             <C>             <C>             <C>             <C>
BALANCE, FEB 28, 2001                     16,457,287    $   164,574    $     25,920    $ 12,260,266    $(16,754,767)   $ (4,304,007)
ISSUANCE OF COMMON STOCK FOR
      Interest                               110,000          1,100                          2,200                            3,300
Common stock committed for
      Services                                                               10,500                                          10,500
      Interest                                                               16,951                                          16,951

NET Loss                                                                                                   (523,666)       (523,666)
                                       -------------   -------------   -------------   -------------   -------------   -------------

    BALANCE, November 30, 2001
           (UNAUDITED)                   16,567,287    $    165,674    $     53,371    $ 12,262,466    $(17,278,433)   $(4,796,922)
                                       =============   =============   =============   =============   =============   =============
</TABLE>

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


                                        5
<PAGE>


                                             MULTI-MEDIA TUTORIAL SERVICES, INC.
                                                                  AND SUBSIDIARY
                                           CONSOLIDATED STATEMENTS OF OPERATIONS
                                  FOR THE NINE MONTHS ENDED NOVEMBER 30,2001 AND
                         FOR THE NINE MONTHS ENDED NOVEMBER 30, 2000 (UNAUDITED)
================================================================================

                                          FOR THE NINE MONTHS ENDED NOVEMBER 30,


                                                    2001                2000
                                                -------------      -------------
                                                 (UNAUDITED)        (UNAUDITED)

NET SALES                                       $  1,432,871       $  1,521,963

COST OF SALES                                         41,892            103,759
                                                -------------      -------------

GROSS PROFIT                                       1,390,979          1,418,204
                                                -------------      -------------

OPERATING EXPENSES
     Selling and marketing                           816,371            838,798
     General and administrative                      763,201            736,592
     Depreciation and amortization                    94,509            160,643
     Stock-based compensation                         10,500             49,250
                                                -------------      -------------

         Total operating expenses                  1,684,581          1,785,283
                                                -------------      -------------

LOSS FROM OPERATIONS                                (293,602)          (367,079)
                                                -------------      -------------

OTHER EXPENSE
Non-cash interest charges                             20,251            367,581
Interest expense                                     209,813            271,098
                                                -------------      -------------

         Total other expense                         230,064            638,679
                                                -------------      -------------

NET LOSS                                        $   (523,666)      $ (1,005,758)
                                                =============      =============

BASIC LOSS PER SHARE                            $      (0.03)      $      (0.08)
                                                =============      =============


DILUTED LOSS PER SHARE                          $      (0.03)      $      (0.08)
                                                =============      =============

WEIGHTED-AVERAGE SHARES OUTSTANDING               17,052,738         13,175,218
                                                =============      =============


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

                                        6
<PAGE>
<TABLE>
                                                              MULTI-MEDIA TUTORIAL SERVICES, INC.
                                                                                   AND SUBSIDIARY
                                                            CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                  FOR THE NINE MONTHS ENDED NOVEMBER 30, 2001 AND
                                          FOR THE NINE MONTHS ENDED NOVEMBER 30, 2000 (UNAUDITED)
=================================================================================================
<CAPTION>
                                                           FOR THE NINE MONTHS ENDED NOVEMBER 30,

                                                                        2001            2000
                                                                     ------------    ------------
                                                                     (UNAUDITED)     (UNAUDITED)
<S>                                                                  <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES
     Net loss                                                          $(523,666)    $ (1,005,758)
     Adjustments to reconcile net loss to net cash
         used in operating activities
              Depreciation and amortization                               94,509         160,643
              Below-market conversion feature of convertible debt            ---         357,908
              Common stock committed and issued for interest              20,251           9,673
              Common stock committed and issued for services              10,500          17,500
              Stock options issued for services                             ----          18,750
     (Increase) decrease in
         Restricted cash                                                     ---          35,000
         Accounts receivable                                               34,882        (28,668)
         Inventories                                                        7,952          4,541
         Prepaid expenses and other assets                                  (568)        (17,260)
     Increase (decrease) in
         Due to related party                                              8,770        (70,600)
         Accounts payable                                                207,366       (141,065)
         Accrued payroll and other expenses                               19,792          15,458
         Accrued interest                                                151,528         157,208
                                                                     ------------    ------------

Net cash provided from operating activities                              31,316        (486,670)
                                                                     ------------    ------------

CASH FLOWS FROM INVESTING ACTIVITIES
     Purchase of furniture and equipment                                  (7,839)        (16,728)
     Increase in intangibles                                                (300)        (33,281)
                                                                     ------------    ------------
Net cash used in investing activities                                     (8,139)        (50,009)
                                                                     ------------    ------------
CASH FLOWS FROM FINANCING ACTIVITIES

     Proceeds from issuance of stock                                         ---         100,000
     Proceeds from issuance of notes payable                              36,500         437,500
     Repayment of notes payable                                           (5,300)        (14,000)
     Repayment of capital lease obligation                               (18,621)
                                                                     ------------    ------------
Net cash provided by financing activities                                  12,579         523,500
                                                                     ------------    ------------
</TABLE>


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

                                        7


<PAGE>
<TABLE>
                                                              MULTI-MEDIA TUTORIAL SERVICES, INC.
                                                                                   AND SUBSIDIARY
                                                            CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                  FOR THE NINE MONTHS ENDED NOVEMBER 30, 2001 AND
                                          FOR THE NINE MONTHS ENDED NOVEMBER 30, 2000 (UNAUDITED)
=================================================================================================
<CAPTION>
                                                           FOR THE NINE MONTHS ENDED NOVEMBER 30,

                                                                        2001            2000
                                                                     ------------    ------------
                                                                     (UNAUDITED)     (UNAUDITED)
<S>                                                                  <C>             <C>

Net increase (decrease) in cash and cash equivalents                 $     35,756    $   (13,179)

CASH AND CASH EQUIVALENTS (BOOK OVERDRAFT), BEGINNING OF
     YEAR                                                                (64,442)        (46,692)
                                                                     ------------    ------------

Cash and Cash Equivalent
(BOOK OVERDRAFT), END OF YEAR                                        $   (28,686)    $   (59,871)
                                                                     ============    ============


SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

     INTEREST PAID                                                   $    58,285     $    114,309
                                                                     ============    ============

     INCOME TAXES PAID                                               $       910      $     6,400
                                                                     ============    ============
</TABLE>


SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES

During the nine months ended November 30, 2001, the Company committed to issue
519,505 shares of common stock for $27,451 of consulting services rendered and
interest expenses incurred.

During the nine months ended November 30, 2001, the Company issued 110,000
shares of common stock for $3300 of financing costs.


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

                                        8


<PAGE>
                                             MULTI-MEDIA TUTORIAL SERVICES, INC.
                                                                  AND SUBSIDIARY
                                           CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 FOR THE NINE MONTHS ENDED NOVEMBER 30, 2001 AND
                         FOR THE NINE MONTHS ENDED NOVEMBER 30, 2000 (UNAUDITED)
================================================================================


SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES (CONTINUED)

During the nine months ended November 30, 2000 the Company converted $513,361 of
notes payable into 5,733,611 shares of common stock.

During the none months ended November 30, 2000, the Company issued 150,000
shares of common stock for $21,000 of consulting services. $10,500 of consulting
services were rendered during the nine months ended November 30, 2000 and
$10,500 of the consulting services were rendered in the prior year.

During the nine months ended November 30, 2000, the Company issued 433,333
shares of common stock for $65,000 of services.

During the nine months ended November 30, 2000, the Company issued 52,000 shares
of common stock for $13,000 services.

During the nine months ended November 30,2000, the Company issued 20,000 shares
of common stock for $7,000 of consulting services.

During the nine months ended November 30, 2000, the Company issued 96,730 shares
of common stock for $9,673 of interest.

During the nine months ended November 30, 2000, the company converted $28,000 of
accounts payable into 280,000 shares of common stock.

During the nine months ended November 30, 1999 the Company converted $201,000 of
accounts payable into 670,000 shares of common stock.



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

                                        9
<PAGE>

                                             MULTI-MEDIA TUTORIAL SERVICES, INC.
                                                                  AND SUBSIDIARY
                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 FOR THE NINE MONTHS ENDED NOVEMBER 30, 2001 AND
                         FOR THE NINE MONTHS ENDED NOVEMBER 30, 2000 (UNAUDITED)
================================================================================

BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements of
Multi-Media Tutorial Services, Inc. (the "Company") have been prepared in
accordance with generally accepted accounting principals for interim financial
information and in accordance with the instructions to Form 10-QSB. Accordingly,
they do not include all of the information and footnotes required by generally
accepted accounting principals for complete financial statements. In the opinion
of management, all material adjustments (consisting of normal recurring
accruals) considered necessary for a fair presentation have been included.
Operating results for the three and nine month period ended November 30, 2001
are not necessarily indicative of the results that may be expected for the year
ended February 28, 2002. The information contained in this Form 10-QSB should be
read in conjunction with the audited financial statements filed as part of the
Company's Form 10-KSB ending February 29, 2001.

GOING CONCERN ISSUES

The Company has received a report from its independent auditors that includes an
explanatory paragraph describing the Company's uncertainty to continue as a
going concern. These consolidated financial statements contemplate the ability
to continue as such and do not include any adjustments that might result from
this uncertainty.

NET LOSS PER SHARE

The Company utilizes SFAS No. 128, "Earnings per Share." Basic loss per share is
computed by dividing loss available to common stockholders by the
weighted-average number of commons shares outstanding. Diluted loss per share is
computed similar to basic loss per share except that the denominator is
increased to include the number of additional common shares that would have been
outstanding if the potential common shares had been issued and if the additional
common shares were dilutive. For the years ended February 28, 2001 and February
29, 2000, the Company incurred net losses; therefore, basic and diluted loss per
share are the same.

COMPREHENSIVE INCOME

The Company utilizes SFAS No. 130 "Reporting Comprehensive Income." This
statement establishes standards for reporting comprehensive income and its
components in a financial statement. Comprehensive income as defined includes
all changes in equity (net assets) during a period from non-owner sources.
Examples of items to be included in comprehensive income, which are excluded
from net income, include foreign currency translation adjustments and unrealized
gains and losses on available-for-sale securities. Comprehensive income is not
presented in the Company's financials statements since the Company did not have
any of the items of comprehensive income in any period presented.


                                       10


<PAGE>

                                             MULTI-MEDIA TUTORIAL SERVICES, INC.
                                                                  AND SUBSIDIARY
                                      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 FOR THE NINE MONTHS ENDED NOVEMBER 30, 2001 AND
                         FOR THE NINE MONTHS ENDED NOVEMBER 30, 2000 (UNAUDITED)
================================================================================


STOCKHOLDER'S EQUITY

During the first nine months ended November 30, 2001, the Company committed to
issue 519,505 common shares for $27,451 of consulting services rendered and
interest expense incurred.

In addition, the Company issued 110,000 shares of common stock for financing
costs valued at $3300.



STOCK OPTIONS

The Company uses APB Opinion No. 25 "Accounting for Stock Issued to Employees"
to calculate the compensation expense related to the grant of options to
purchase Common Stock under the intrinsic value method. Accordingly, the Company
makes no adjustments to its compensation expense or equity accounts for the
grant of options. The Company granted options for the period ended November 30,
2001.

In March 2000, the Company granted 150,000 options for consulting services
valued at $10,500 at an exercise price of $0.25.

FACTOR AGREEMENT

During the nine months ended November 30,2000 the Company factored and financed
$847,500 of sales. Pursuant to the factoring agreement the Company sells without
recourse its trade receivables of specific telemarketing accounts. The factor
advances the Company funds before the due date of the trade receivables. The
factored sales and advances bear interest at rates varying between 6% and 8 1/2%
of the sale. For the nine months ended November 30, 2001 the Company incurred
$66,899 of charges.


SUBSEQUENT EVENTS

Subsequent to November 30, 2001 the Company committed to issue 625,000 shares of
common stock and 125,000 warrants at an exercise price of $0.25 for $31,250.


                                       11
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

         THIS REPORT, INCLUDING THE DISCLOSURES BELOW, CONTAINS CERTAIN
FORWARD-LOOKING STATEMENTS THAT INVOLVE SUBSTANTIAL RISKS AND UNCERTAINTIES.
WHEN USED HEREIN, THE TERMS "ANTICIPATES," "EXPECTS," "ESTIMATES," "BELIEVES"
AND SIMILAR EXPRESSIONS, AS THEY RELATE TO THE COMPANY OR ITS MANAGEMENT, ARE
INTENDED TO IDENTIFY SUCH FORWARD-LOOKING STATEMENTS. THE COMPANY'S ACTUAL
RESULTS, PERFORMANCE OR ACHIEVEMENTS MAY DIFFER MATERIALLY FROM THOSE EXPRESSED
OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. FACTORS THAT COULD CAUSE OR
CONTRIBUTE TO SUCH MATERIAL DIFFERENCES INCLUDE THE FACTORS DISCLOSED IN THE
"RISK FACTORS" SECTION OF THE COMPANY'S ANNUAL REPORT ON FORM 10-KSB FOR THE
FISCAL YEARS ENDED FEBRUARY 28, 2000 AND 1999, WHICH READERS OF THIS REPORT
SHOULD CONSIDER CAREFULLY.

         RESULTS OF OPERATIONS FOR THE THREE (3) MONTHS ENDED NOVEMBER 30, 2001
AND 2000. Net sales for the three (3) months ended November 30, 2001 (the "2001
Period") were $519,298 compared to $567,493 in the three (3) months ended
November 30, 2000 (the "2000 Period").

         Gross profit was $504,099 in the 2001 Period compared to $556,372 in
the 2000 Period. The decrease in gross profit was a consequence of a drop in net
sales due to a decrease in advertising.

         Selling and marketing expenses were $323,224 in the 2001 Period
compared to $323,580 for the 2000 Period.

         General and administrative expenses were $229,271 in the 2001 Period
compared to $236,507 in the 2000 Period.

         Depreciation and amortization decreased to $31,625 in the 2001 Period
from $53,857 in the 2000 Period. This decrease was due to certain assets being
fully depreciated in the prior year.

         Interest expense was $72,510 in the 2001 Period compared to $90,173 in
the 2000 Period. The Company also had non-cash interest charges of $6,831 in the
2000 Period related to the issuance of stock for interest expense.

         Net loss was $159,362 in the 2001 Period compared to a net loss of
$166,344 in the 2000 Period. Loss from operations was $80,021 in the 2001 Period
compared to a loss of $70,572 in the 2000 Period. Loss from operations before
depreciation and amortization was $48,396 for the 2001 period and loss from
operations before depreciation and amortization was $16,715 for the 2000 period.

         Current advertising rates have fallen substantially which presents a
good opportunity for the Company to advertise its educational programs as it has
done in the past when advertising rates were at approximately these levels. The
Company plans to roll out a national radio campaign on behalf of its Math Made
Easy products subject to the availability of additional funding.

         The Company has maintained its teleservicing division which specializes
in sales and customer service for third party accounts. The Company has
undertaken an increased focus on attracting new teleservicing accounts through
senior management's direct involvement and initiative. In October, 2001 the
Company took on several new accounts relating to sales calls and customer
service.

         RESULTS OF OPERATIONS FOR THE NINE (9) MONTHS ENDED NOVEMBER 30, 2001
AND 2000. Net sales for the nine (9) months ended November 30, 2001 (the "2001
Period") were $1,432,871 compared to $1,521,963 in the nine (9) months ended
November 30, 2000 (the "2000 Period").

         Gross profit was $1,390,979 in the 2001 Period compared to $1,418,204
in the 2000 Period

                                       12
<PAGE>

         Selling and marketing expenses were $816,371 in the 2001 Period
compared to $838,798 for the 2000 Period.

         General and administrative expenses were $763,201 in the 2001 Period
compared to $736,592 in the 2000 Period.
12
         Depreciation and amortization decreased to $94,509 in the 2001 Period
from $160,643 in the 2000 Period. This decrease was due to certain assets being
fully depreciated during the prior year.

         Interest expense was $209,813 in the 2001 Period compared to $271,098
in the 2000 Period.

         Stock based compensation was $10,500 in the 2001 Period compared to
$49,250 in the 2000 Period.

         Net loss was $523,666 in the 2001 Period compared to $1,005,758 in the
2000 Period. Loss from operations was $293,602 in the 2001 Period compared to
$367,079 in the 2000 Period Loss from operations before depreciation and
amortization was $199,093 and $206,436 for the nine (9) months ended November
30, 2001 and November 30, 2000, respectively.

         Multimedia Tutorial Services, Inc. (OTCBB: MMTS) was founded in 1987
and went public in 1995 to position the company to market its tutorials
nationwide directly to parents and students. Prior to that its programs were
sold primarily to schools and libraries where their instructional materials had
been well-received by teachers and educators. Multimedia's key strengths lie in
two distinct, but complementary areas, the development and marketing of
educational products that are designed as self-paced tutorial programs; and the
delivery of customer service and sales support through its telemarketing
operation. Targeting the e-commerce sector and other direct marketers,
Multimedia also delivers inbound and outbound telemarketing services to such as
Companies as Imaging for Life and Net2Phone Corporation.

                        LIQUIDITY AND CAPITAL RESOURCES.

    The Company's cash and restricted cash was $10,000 at November 30, 2001 and
at February 29, 2001. The Company did not have any cash, other than restricted
cash, at November 30, 2001.

         Net cash provided from operations in the nine (9) months ended November
30, 2001 was $31,316 compared to net cash used in operations of $486,670 in the
nine (9) months ended November 30, 2000.

         Net cash used in investing activities in the nine (9) months ended
November 30, 2001 was $8,139 compared to $50,009 in the nine (9) months ended
November 30, 2000.

         Net cash provided from financing activities in the nine (9) months
ended November 30, 2001 was $12,579, compared to $523,500 in the nine(9) months
ended November 30, 2000.

         As of May 24, 1999, the Company effected a reverse split of its issued
and outstanding Common Stock on a one-for-ten basis.

         In April 1996, the Company received gross proceeds of $500,000 from the
issuance of convertible notes. The notes bear interest at 10% per annum and an
accelerated rate of 17% per annum beginning April 17, 1997. The noteholders have
the right to convert the principal and accrued interest into common shares of
the Company at a price of (i) $1.2656 per share or (ii) 75% of the closing bid
for the five trading days immediately preceding the conversion. In the event of
default, as defined, the Company will not have the right to compel conversion.
The Company placed 909,090 shares of common stock into escrow for the benefit of
the noteholders. During the nine months ended November 30, 1996, $250,000 was
converted into 34,190 shares and $250,000 of principal remain outstanding and
are currently due and payable. As a result of the conversion, 45,455 shares
remained in escrow.

         The Company has received advances aggregating $375,000, which bear
interest at the rate of 10% per year, and are currently due and payable.

                                       13
<PAGE>

       In December, 1999 the Company entered into a consulting agreement with a
software consulting firm. The consultants were to develop a web site and a CD
Rom program. The agreement was valued at $130,000 and called for an initial fee
of $65,000 with $65,000 due upon completion. Pursuant to the agreement, the
Company will pay all fees with stock. The Company has issued 433,333 shares of
common stock. The web site is operational but the CD Rom is not as yet
completed. The Company is negotiating with the vendor as to the number of shares
that will be issued upon completion of the package.

         From November, 1999, to July, 2000, the Company issued approximately
$763,000 of convertible, unsecured promissory notes. The notes bear interest at
the rate of 10% PER ANNUM, and are due 10-months following the date of issuance.
The notes are convertible into Common Stock at the lesser of: (i) $0.50 per
share, or (ii) 50% of the average of the closing bid price for the Common Stock
during the five (5) days immediately preceding conversion. However, the notes
may not be converted at a price of less than $0.10 per share. The notes may be
converted into a number of shares of common stock of the Company's subsidiary,
The Tutorial Channel.com, equal to 1% of the issued and outstanding shares of
common stock of such subsidiary for each $25,000 principal amount with respect
to $600,000 of certain of these notes (Series A Notes), and equal to 0.25% of
the issued and outstanding shares of common stock of such subsidiary for each
$25,000 principal amount with respect to $163,000 of certain of these notes
(Series B Notes). Each class of these notes is convertible on the earlier of (i)
the last business day preceding the filing of the first registration statement
for the common stock of such subsidiary, or (ii) December 1, 2000. As of August
31, 2000, the Company converted $312,500 principal amount of the Series A Notes
and $100,000 principal amount of Series B Notes, plus accrued interest, at a
conversion price of $0.10 per share, into an aggregate of 4,133,611 shares of
Common Stock. The Company recorded a non-cash interest expense of $357,908 in
connection with the below-market conversion feature of these notes.

         From November, 1999 to February, 2000, the Company issued $100,000 of
unsecured, demand promissory notes, bearing interest at the rate of 10% per
annum.

         As of February 2, 2000, the Company converted an account payable of
$135,500 due to its former accountants, Holtz Rubenstein & Co., LLP, into a
one-year Series B Note, in the principal amount of $135,500, bearing interest at
the rate of 10% PER ANNUM.

         In August, 2000, the Company issued 40,740 shares of Common Stock to a
consultant in consideration of an interest payment of $4,074.

         In September, 2000, the Company issued 1,000,000 shares of Common Stock
to an existing stockholder of the Company in consideration of $100,000. The
shares have certain piggyback registration rights.

         In September, 2000, the Company issued 280,000 shares of Common Stock
in consideration of the conversion of $28,000 in payables to a vendor. In
January, 2001, the Company received $25,000 cash and issued 125,000 shares and
125,000 warrants exercisable at $.25 per share and a debenture in the amount of
$25,000.

         In May, 2001, the Company issued 110,000 shares of common stock for
$3300 of financing costs. Additionally, the Company committed to issue 405,457
common shares in satisfaction of $16,046 of consulting services and interest
charges.

         In August 2001, the Company committed to issue 45,739 common shares in
satisfaction of $4574 of interest charges.

         In November, 2001, the Company committed to issue 68,309 common shares
in satisfaction of $6, 831 of interest charges.

                                       14
<PAGE>

         The Company had made a settlement with one of its creditors that had
begun litigation, whereby it has settled a $235,000 claim for $190,000 with a
29-month payout schedule. The Company has paid approximately $30,000 in honor of
this settlement; however, the Company is presently in litigation with this
creditor since the creditor has not honored the terms of the settlement
agreement to activate and to provide upgrades of its software. In addition, the
Company has been sued by a vendor for approximately $100,000, and the Company
has asserted a counterclaim against the vendor for lack of maintaining the
service contract. Accordingly the company is seeking damages against the vendor
in the sum of $500,000. The Company has also reached agreements with certain of
its other vendors relating to obligations in the aggregate amount of
approximately $900,000 based upon payment schedules. There is no assurance that
the Company's future revenues will be adequate to meet such payment schedules.
Moreover, the Company's revenues have not always been sufficient to enable the
Company to fully comply with these payment schedules. However, The Company has
been able to receive extensions of these schedules where it has not been able to
comply with the agreed schedules. In particular, the Company has come to a
one-year agreement with its largest creditor who had received a judgment against
the Company. The agreement does not require any fixed payment schedule, but
stipulates that the Company will make payments to the creditor which are tied to
the Company's profits. In addition, the creditor has given the Company the
option of paying off the entire debt within the twelve-month period for $345,000
representing approximately one-half of the outstanding balance. The company is
currently in compliance of its agreement with this creditor. Other creditors
have given extensions in the form of agreements on a periodic basis. There is no
assurance that any of these creditors will not, at some point in the future,
declare the Company in default of its obligations. The company presently makes
scheduled payments to creditors from operating cash flow. In addition, the
Company has, from time to time, obtained additional funding from investors,
which have enabled it to make up some of the shortages in the scheduled
payments. Failure to cure a default in payment schedules could result in the
entry of a judgment against the Company. In addition, the Company is in arrears
for federal and state payroll tax and unemployment tax in the approximate amount
of $200,000. The Company has made payment arrangements with the New York State
Department of Taxation and with the New York State Department of Labor.

         Since January, 2001 the Company has continued to meet its working
capital requirements through internally generated funds. In September, 2000 the
Company received $100,000 in funding and issued 1,000,00 shares of common stock
and 1,000,000 warrants. In January 2001, the Company received $25,000 in funding
and issued 125,000 shares and 125,000 warrants and a debenture in the amount of
$25,000. In addition, the Company may have increased capital requirements as it
seeks to expand its product lines and customized telemarketing services. In
order to meet its current and future cash requirements, the Company is in
discussions to negotiate additional debt and equity financing. There can be no
assurance that any financing will be successful nor that the Company will be
able to fund internally its working capital requirements or meet its debt
repayment obligations. In the event that the Company is unable to secure
additional financing, it may be obligated to significantly reduce its operations
and seek to sell assets, which would have a material adverse affect on the
Company's prospects and financial results.

         The Company has received a report from its independent public
accountants, which has been filed with the Company's Annual Report on Form
10-KSB for the fiscal year ended February 29, 2001, that includes an explanatory
paragraph describing the uncertainty as to the ability of the Company's
operations to continue as a going concern.

         The Company's operations have not been materially affected by the
impact of inflation.

                       DOCUMENTS INCORPORATED BY REFERENCE

         THE COMPANY IS CURRENTLY SUBJECT TO THE REPORTING REQUIREMENTS OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (THE "EXCHANGE ACT") AND IN
ACCORDANCE THEREWITH FILES REPORTS, PROXY STATEMENTS AND OTHER INFORMATION WITH
THE COMMISSION. SUCH REPORTS, PROXY STATEMENTS AND OTHER INFORMATION MAY BE
INSPECTED AND COPIED AT THE PUBLIC REFERENCE FACILITIES OF THE COMMISSION AT
JUDICIARY PLAZA, 450 FIFTH STREET, N.W., WASHINGTON D.C. 20549; AT ITS NEW YORK
REGIONAL OFFICE, SUITE 1300, 7 WORLD TRADE CENTER, NEW YORK, NEW YORK, 10048;
AND AT ITS CHICAGO REGIONAL OFFICE, 500 WEST MADISON STREET, SUITE 1400,
CHICAGO, ILLINOIS 60661, AND COPIES OF SUCH MATERIALS CAN BE OBTAINED FROM THE
PUBLIC REFERENCE SECTION OF THE COMMISSION AT ITS PRINCIPAL OFFICE IN
WASHINGTON, D.C., AT PRESCRIBED RATES. IN ADDITION, SUCH MATERIALS MAY BE
ACCESSED ELECTRONICALLY AT THE COMMISSION'S SITE ON THE WORLD WIDE WEB, LOCATED
AT http://www.sec.gov.

                                       15
<PAGE>

                           PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

         The Company had made a settlement with one of its creditors that had
begun litigation, whereby it has settled a $235,000 claim for $190,000 with a
29-month payout schedule. The Company has paid approximately $30,000 in honor of
this settlement; however, the Company is presently in litigation with this
creditor since the creditor has not honored the terms of the settlement
agreement to activate and to provide upgrades of its software. In addition, the
Company has been sued by a vendor for approximately $100,000, and the Company
has asserted a counterclaim against the vendor for lack of maintaining the
service contract. Accordingly the company is seeking damages against the vendor
in the sum of $500,000. The Company has also reached agreements with certain of
its other vendors relating to obligations in the aggregate amount of
approximately $900,000 based upon payment schedules. There is no assurance that
the Company's future revenues will be adequate to meet such payment schedules.
Moreover, the Company's revenues have not always been sufficient to enable the
Company to fully comply with these payment schedules. However, The Company has
been able to receive extensions of these schedules where it has not been able to
comply with the agreed schedules. In particular, the Company has come to a
one-year agreement with its largest creditor who had received a judgment against
the Company. The agreement does not require any fixed payment schedule, but
stipulates that the Company will make payments to the creditor which are tied to
the Company's profits. In addition, the creditor has given the Company the
option of paying off the entire debt within the twelve-month period for $345,000
representing approximately one-half of the outstanding balance. The company is
currently in compliance of its agreement with this creditor. Other creditors
have given extensions in the form of agreements on a periodic basis. There is no
assurance that any of these creditors will not, at some point in the future,
declare the Company in default of its obligations. The company presently makes
scheduled payments to creditors from operating cash flow. In addition, the
Company has, from time to time, obtained additional funding from investors,
which have enabled it to make up some of the shortages in the scheduled
payments. Failure to cure a default in payment schedules could result in the
entry of a judgment against the Company. In addition, the Company is in arrears
for federal and state payroll tax and unemployment tax in the approximate amount
of $200,000. The Company has made payment arrangements with the New York State
Department of Taxation and with the New York State Department of Labor.

ITEM 2.  CHANGES IN SECURITIES

         c. Recent Sales of Unregistered Securities.
            ----------------------------------------

         In May, 2001, the Company issued 110,000 shares of common stock for
$3300 of financing costs.

         In May, 2001, the Company committed to issue 405,456 common shares in
satisfaction of $16,046 of consulting servies and interest charges.

         In August, 2001, the Company committed to issue 45,739 common shares in
satisfaction of $4574 of interest charges.

         In November, 2001, the Company committed to issue 68,309 commons shares
in satisfaction of $6831 of interest charges.

         These securities were issued in transactions exempt from registration
pursuant to Section 4(2) of the Securities Act of 1933.

ITEM 3.  DEFAULTS ON SENIOR SECURITIES

         None

ITEM 4.  SUBMISSION TO A VOTE OF SECURITY HOLDERS

         None.

ITEM 5.  OTHER INFORMATION

         None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a) EXHIBIT 27 - Financial Data Schedule.

         (b) REPORTS ON FORM 8-K - The Company did not file any Reports on Form
             8-K during the quarter ended November 30, 2001.



                                       16
<PAGE>

                                   SIGNATURES

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


                                           MULTI-MEDIA TUTORIAL SERVICES, INC.




Date: January 19, 2001                     By: /s/ Barry Reichman
                                               -------------------------------
                                               Barry Reichman
                                               Chief Executive Officer and
                                               Chief Financial Officer




                                       17