<PAGE>   1
                                  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      August 31, 2001
                               -------------------------------------------------

                                       or

[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities
    Exchange Act of 1934

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


Commission File Number:  1-13484
                        --------------------------------------------------------



                           COHESANT TECHNOLOGIES INC.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


          DELAWARE                                       34-1775913
--------------------------------------------------------------------------------
 (State or other jurisdiction of                       (I.R.S. Employer
 Incorporation or organization)                       Identification No.)


 5845 West 82nd Street, Suite 102, Indianapolis, Indiana    46278
--------------------------------------------------------------------------------
 (Address of principal executive offices)                 (Zip Code)

Issuer's telephone number, including area code      317-875-5592
                                                --------------------------------


--------------------------------------------------------------------------------
(Former name, former address and former fiscal year, if changed since last
report)

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
                                                             ---     ---

As of September 24, 2001, the Company has 2,429,983 shares of Common Stock,
$.001 par value, outstanding.

Transitional Small Business Disclosure Format (check one)

                                                         YES      NO  X
                                                             ---     ---

<PAGE>   2



                           COHESANT TECHNOLOGIES INC.

                                      INDEX
<TABLE>
<CAPTION>

<S>                                                                                                 <C>
Part I. Financial Information                                                                        PAGE
-----------------------------                                                                        ----

     Cohesant Technologies Inc. Condensed Consolidated
           Balance Sheet as of August 31, 2001........................................................ 1

     Cohesant Technologies Inc. Condensed Consolidated
           Statements of Operations for the Three Months Ended
           August 31, 2001 and August 31, 2000........................................................ 2

     Cohesant Technologies Inc. Condensed Consolidated
           Statements of Operations for the Nine Months Ended
           August 31, 2001 and August 31, 2000........................................................ 3

     Cohesant Technologies Inc. Condensed Consolidated
           Statements of Cash Flows for the Nine Months Ended
           August 31, 2001 and August 31, 2000........................................................ 4

     Notes to Condensed Consolidated Financial Statements............................................. 5

     Management's Discussion and Analysis of Financial Condition
           and Results of Operations..................................................................10



PART II. OTHER INFORMATION
--------------------------

Item 1. Legal Proceedings.............................................................................13

Item 4. Submission of Matters to a Vote of Security Holders...........................................13

Item 6. Exhibits and Reports on Form 8-K..............................................................13

Signature.............................................................................................14
</TABLE>




<PAGE>   3


                          PART I. FINANCIAL INFORMATION
                          -----------------------------

                           COHESANT TECHNOLOGIES INC.

                      CONDENSED CONSOLIDATED BALANCE SHEET
                                   (UNAUDITED)

                                                            August 31, 2001
                                                            ---------------
ASSETS:
     Cash                                                        $  614,117
     Accounts receivable, net of allowance
        for doubtful accounts of $245,561                         3,495,246
     Inventory                                                    3,445,175
     Prepaid expenses and other                                     151,256
     Deferred tax assets                                            173,300
                                                            ---------------
               Total Current Assets                               7,879,094

     Property, plant and equipment, net                             503,592
     Investment in unconsolidated affiliate                          19,599
     Patents and other intangibles, net                             118,149
     Goodwill, net                                                  859,349
     Other noncurrent assets                                          4,671
                                                            ---------------
               Total Assets                                      $9,384,454
                                                            ===============

LIABILITIES AND SHAREHOLDERS' EQUITY:
     Accounts payable                                            $1,203,079
     Accrued salaries, benefits and commissions                     389,174
     Accrued taxes                                                  398,418
     Other current liabilities                                      284,293
                                                            ---------------
               Total Current Liabilities                          2,274,964

     Commitments and contingencies

     Shareholders' Equity:
        Common stock ($.001 par value, 10,000,000
          shares authorized, 2,429,983 issued and outstanding)        2,430
        Additional paid-in capital                                5,947,180
        Retained earnings                                         1,159,880
                                                            ---------------
               Total Shareholders' Equity                         7,109,490
                                                            ---------------

               Total Liabilities and Shareholders' Equity        $9,384,454
                                                            ===============




               The accompanying notes are an integral part of this
                  Condensed Consolidated Financial Statement.


                                       1
<PAGE>   4

                           COHESANT TECHNOLOGIES INC.

                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

                                             For the Three Months Ended
                                         August 31, 2001     August 31, 2000
                                         ---------------     ---------------

NET SALES                                 $ 4,506,718         $ 4,123,238
COST OF SALES                               2,375,217           2,244,322
                                          -----------         -----------
     Gross profit                           2,131,501           1,878,916

RESEARCH, DEVELOPMENT AND
    ENGINEERING EXPENSES                      313,562             269,936
SELLING, GENERAL AND
     ADMINISTRATIVE EXPENSES                1,288,861           1,223,975
                                          -----------         -----------
TOTAL OPERATING EXPENSES                    1,602,423           1,493,911

    Income from operations                    529,078             385,005

OTHER INCOME (EXPENSE):
     Interest expense                             (39)            (21,771)
     Equity in income of
          unconsolidated affiliate                  0              37,277
     Other income, net                         17,715              36,207
                                          -----------         -----------

INCOME BEFORE INCOME TAXES                    546,754             436,718

INCOME TAX PROVISION                         (202,298)           (147,793)
                                          -----------         -----------

NET INCOME                                    344,456             288,925
                                          ===========         ===========

BASIC AND DILUTED EARNINGS PER
  COMMON SHARE  (Note 3)                  $      0.14         $      0.12
                                          ===========         ===========

WEIGHTED AVERAGE SHARES OF COMMON
  STOCK OUTSTANDING:
   BASIC                                    2,419,560           2,343,695
                                          ===========         ===========
   DILUTED                                  2,448,202           2,404,653
                                          ===========         ===========






               The accompanying notes are an integral part of this
                  Condensed Consolidated Financial Statement.


                                       2
<PAGE>   5

                           COHESANT TECHNOLOGIES INC.

                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

                                              For the Nine Months Ended
                                         August 31, 2001     August 31, 2000
                                         ---------------     ---------------

NET SALES                                 $ 12,296,382         $ 11,878,793
COST OF SALES                                6,773,578            6,714,291
                                          ------------         ------------
     Gross profit                            5,522,804            5,164,502

RESEARCH, DEVELOPMENT AND
    ENGINEERING EXPENSES                       875,095              820,981
SELLING, GENERAL AND
     ADMINISTRATIVE EXPENSES                 3,461,246            3,464,076
                                          ------------         ------------
TOTAL OPERATING EXPENSES                     4,336,341            4,285,057

    Income from operations                   1,186,463              879,445

OTHER INCOME (EXPENSE):
     Interest expense                          (17,844)             (54,714)
     Equity in income of
          unconsolidated affiliate                   0               99,151
     Other income, net                          29,604              107,713
                                          ------------         ------------

INCOME BEFORE INCOME TAXES                   1,198,223            1,031,595

INCOME TAX PROVISION                          (426,221)            (345,005)
                                          ------------         ------------

NET INCOME                                     772,002              686,590
                                          ============         ============

BASIC AND DILUTED EARNINGS PER
  COMMON SHARE (Note 3)                   $       0.32         $       0.29
                                          ============         ============

WEIGHTED AVERAGE SHARES OF COMMON
  STOCK OUTSTANDING:
   BASIC                                     2,386,371            2,339,980
                                          ============         ============
   DILUTED                                   2,424,827            2,402,428
                                          ============         ============







               The accompanying notes are an integral part of this
                  Condensed Consolidated Financial Statement.


                                       3
<PAGE>   6

                           COHESANT TECHNOLOGIES INC.

                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
<TABLE>
<CAPTION>

                                                                      For the Nine Months Ended
                                                                August 31, 2001     August 31, 2000
                                                                ---------------     ---------------

<S>                                                              <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                                                      $   772,002         $   686,590
  Adjustments to reconcile net income to net cash
     used in continuing operations -
     Depreciation and amortization                                    234,902             215,245
     Loss on disposal of equipment                                      2,591                 -
     Provision for doubtful accounts                                   35,500              45,500
     Equity in income of unconsolidated subsidiary                        -               (99,151)
     Net change in current assets and
      current liabilities-
       Accounts receivable                                           (354,656)         (1,133,365)
       Inventory                                                      184,280            (729,882)
       Prepaid expenses                                               (17,649)            (39,463)
       Accounts payable                                               303,191             260,856
       Other current liabilities                                     (486,719)            252,640
       Other noncurrent assets                                        (13,754)            (14,534)
       Other noncurrent liabilities                                       -                (9,727)
                                                                  -----------         -----------
       Net cash provided by (used in) operating activities            659,688            (565,291)
                                                                  -----------         -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Property, plant and equipment additions                            (72,741)            (98,276)
   Payments from unconsolidated affiliate                              42,003              86,797
                                                                  -----------         -----------
       Net cash used in investing activities                          (30,738)            (11,479)
                                                                  -----------         -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
   (Payments) borrowings under revolving line of credit              (179,000)            325,000
   Proceeds from exercise of stock options                            103,114              15,076
                                                                  -----------         -----------
       Net cash provided by (used in) financing activities            (75,886)            340,076
                                                                  -----------         -----------

NET INCREASE (DECREASE) IN CASH                                       553,064            (236,694)
CASH AT BEGINNING OF PERIOD                                            61,053             352,895
                                                                  -----------         -----------
CASH AT END OF PERIOD                                             $   614,117         $   116,201
                                                                  ===========         ===========

SUPPLEMENTAL DISCLOSURES:
  Cash paid during the year for
     Interest                                                     $    17,844         $    54,714
                                                                  -----------         -----------
     Income Taxes                                                 $   653,000         $    24,949
                                                                  ===========         ===========
</TABLE>





               The accompanying notes are an integral part of this
                  Condensed Consolidated Financial Statement.


                                       4
<PAGE>   7


                           COHESANT TECHNOLOGIES INC.

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS

Cohesant Technologies Inc. ("Company") designs, develops and manufactures plural
component dispensing systems, specialized spray finishing and coating
application equipment and specialty two component epoxy coating and grout
products through two subsidiaries--Glas-Craft, Inc. ("GCI") and Raven Lining
Systems, Inc. ("Raven").


NOTE 2 - BASIS OF PRESENTATION

The condensed consolidated interim financial statements included herein have
been prepared by the Company, without audit, pursuant to the rules and
regulations of the Securities and Exchange Commission for certain small business
issuers. Certain information and footnote disclosures normally included in
financial statements prepared in accordance with accounting principles generally
accepted in the United States have been condensed or omitted pursuant to such
rules and regulations. However, in the opinion of management of the Company, the
condensed consolidated interim financial statements include all adjustments,
necessary to present fairly the financial information for such periods.

These interim financial statements should be read in conjunction with the
financial statements and the notes thereto included in the Company's November
30, 2000 Annual Report to Shareholders on Form 10-KSB.

The accompanying condensed consolidated financial statements include the
accounts of the Company and its direct wholly owned subsidiaries. The Company's
investment in an affiliate is accounted for under the equity method (Note 5).
All significant intercompany amounts have been eliminated.

NOTE 3 - EARNINGS PER SHARE

The Company computes earnings per share in accordance with Statement of
Financial Accounting Standards No. 128, "Earnings Per Share". This standard
requires the presentation of two amounts, basic and diluted earnings per share.
In determining diluted earnings per share, stock options were included in the
calculation as their effect was dilutive.


                                       5
<PAGE>   8

                           COHESANT TECHNOLOGIES INC.

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

NOTE 4 - REVOLVING LINE OF CREDIT FACILITY

On April 1, 2001, the Company renewed its revolving line of credit agreement
with a bank. This $3,500,000 credit facility accrues interest at the bank's
prime lending rate (6.50% as of August 31, 2001). The credit facility is fully
secured by a lien on all the assets of the Company and its operating
subsidiaries. The credit facility expires on May 1, 2002. This agreement
requires that the Company meet certain covenants including financial ratios. As
of August 31, 2001, the Company was in compliance with the covenants and
financial ratios. As of August 31, 2001, the Company did not have a balance
outstanding under this facility.

NOTE 5 - INVESTMENT IN UNCONSOLIDATED AFFILIATE

On November 1, 2000, the Company purchased an additional one-third interest in
RTM Systems, Inc. ("RTM"), an Indiana corporation organized in 1989, for $1,000
bringing the Company's ownership in RTM to 67%. The Company is accounting for
its investment in RTM under the equity method of accounting as management
believes the Company's controlling interest is temporary. The impact of not
consolidating RTM on the operating results of the Company for the period ended
August 31, 2001, is immaterial. RTM's balance sheet at August 31, 2001,
primarily consisted of assets totaling approximately $30,000. Transactions
between the Company and RTM did not have a material impact on the Company's
consolidated financial position or results of operations.

NOTE 6- COMMON STOCK

On March 29, 2001 the Company retired 336,235 treasury shares previously shown
on the balance sheet at a cost of $600,934.

The Board of Directors at their September 2001 meeting authorized the
re-purchase of up to 250,000 shares of the Company's common stock in the open
market.

NOTE 7- SEGMENT INFORMATION

The Company monitors its operations in two business segments: Equipment and
Parts and Coatings and Grouts. Certain corporate costs are not allocated to the
business segments. Financial information for the Company's business segments is
as follows:


                                       6
<PAGE>   9

                           COHESANT TECHNOLOGIES INC.

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)
<TABLE>
<CAPTION>

Three Months Ended                              Equipment        Coatings
August 31, 2001                                  & Parts         & Grouts      Corporate       Consolidated
---------------                                  -------         --------      ---------       ------------
<S>                                            <C>            <C>                <C>         <C>
Net Sales                                      $ 3,101,186    $ 1,405,532        $     -     $    4,506,718
Depreciation and amortization:                      58,145         26,969              9             85,123
Interest expense:                                        -              -             39                 39
Income before taxes:                               378,362        311,083       (142,691)           546,754
Identifiable assets:                             6,076,142      2,451,993        856,319          9,384,454
Capital expenditures:                               22,868          8,216              -             31,084

Three Months Ended                              Equipment        Coatings
August 31, 2000                                  & Parts         & Grouts      Corporate       Consolidated
---------------                                  -------         --------      ---------       ------------

Net Sales                                      $ 3,311,928    $   811,310        $     -     $    4,123,238
Depreciation and amortization:                      44,907         23,093             16             68,016
Interest expense:                                      352              -         21,419             21,771
Income before taxes:                               427,098        149,374       (139,754)           436,718
Identifiable assets:                             7,098,642      1,997,344        421,520          9,517,506
Capital expenditures:                               10,046            204              -             10,250

Nine Months Ended                               Equipment        Coatings
August 31, 2001                                  & Parts         & Grouts      Corporate       Consolidated
---------------                                  -------         --------      ---------       ------------

Net Sales                                      $ 8,785,458    $ 3,510,924        $     -      $  12,296,382
Depreciation and amortization:                     154,164         80,709              29           234,902
Interest expense:                                        -              -          17,844            17,844
Income before taxes:                               911,177        673,172        (386,126)        1,198,223
Identifiable assets:                             6,076,142      2,451,993         856,319         9,384,454
Capital expenditures:                               53,236         19,505               -            72,741

Nine Months Ended                               Equipment        Coatings
August 31, 2000                                  & Parts         & Grouts      Corporate       Consolidated
---------------                                  -------         --------      ---------       ------------

Net Sales                                      $ 9,680,646    $ 2,198,147        $     -      $  11,878,793
Depreciation and amortization:                     146,154         69,043             48            215,245
Interest expense:                                    1,157              -         53,557             54,714
Income before taxes:                             1,228,160        222,357       (418,922)         1,031,595
Identifiable assets:                             7,098,642      1,997,344        421,520          9,517,506
Capital expenditures:                               77,512         20,764              -             98,276

</TABLE>



                                       7
<PAGE>   10

                           COHESANT TECHNOLOGIES INC.

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

The following table presents percentage of total revenues by region.

<TABLE>
<CAPTION>
                                                                                        Nine Months          Nine Months Ended
                          Three Months Ended            Three Months Ended                 Ended                   Ended
Region                      August 31, 2001              August 31, 2000              August 31, 2001         August 31, 2001
-------                     ---------------              ---------------              ---------------         ---------------

<S>                             <C>                          <C>                         <C>                       <C>
United States /
Canada                             72%                          67%                         70%                       64%
Asia/Pacific Rim                   13                           14                          14                        15
Europe/Middle East                 10                           13                          11                        15
Other                               5                            6                           5                         6
                       --------------------------    ------------------------     ----------------------    ----------------------
Total                             100%                         100%                        100%                      100%
</TABLE>


NOTE 8- NEW ACCOUNTING STANDARDS

The FASB issued two new statements of financial accounting standards in July
2001: SFAS No. 141, "Business Combinations" (SFAS 141), and SFAS No. 142,
"Goodwill and Other Intangible Assets" (SFAS 142). These interrelated standards
change the accounting for business combinations and goodwill in two significant
ways. SFAS 141 requires that the purchase method of accounting be used for all
business combinations initiated after June 30, 2001. SFAS 142 changes the
accounting for goodwill from an amortization approach to an impairment-only
approach. Goodwill is to be tested for impairment at a reporting unit level at
least annually. SFAS 142 also changes certain aspects of accounting for
intangible assets; however, excluding goodwill, the company does not have any
significant intangible assets.

SFAS 142 also requires the initial impairment review of all goodwill and other
intangible assets within six months of the adoption date, which is December 1,
2001, if the Company elects early adoption. The impairment review consists of a
comparison of the fair value of a reporting unit to its carrying amount. If the
fair value of a reporting unit is less than its carrying amount, an impairment
loss would be recognized. Results of the initial impairment review are to be
treated as a change in accounting principle in accordance with APB Opinion No.
20 "Accounting Changes." An impairment loss recognized as a result of an
impairment test occurring after the initial impairment review is to be reported
as a part of operations.

The adoption of SFAS 141 will not materially impact operations. As required by
SFAS 142, amortization of goodwill relating to the purchase of Raven, which
approximates $76,000 per


                                       8
<PAGE>   11

                           COHESANT TECHNOLOGIES INC.

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

year, will cease on December 1, 2001, if the Company elects early adoption. The
Company has not determined the potential impact of initial impairment reviews to
be performed within six months of adoption of SFAS 142.

Also in July 2001, the FASB issued SFAS No. 143, "Accounting for Asset
Retirement Obligations" (SFAS 143). SFAS 143 requires entities to record the
fair value of a liability for an asset retirement obligation in the period in
which it is incurred. When the liability is initially recorded, the entity
capitalizes a cost by increasing the carrying amount of the related long-lived
asset. Over time, the liability is accreted to its present value, and the
capitalized cost is depreciated over the useful life of the related asset. Upon
settlement of the liability, an entity either settles the obligation for its
recorded amount or incurs a gain or loss upon settlement. SFAS 143 is effective
for fiscal years beginning after June 15, 2002, with earlier application
encouraged. The Company is currently evaluating the impact that SFAS 143 will
have on its operations.





                                       9
<PAGE>   12

                           COHESANT TECHNOLOGIES INC.

                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                      CONDITION AND RESULTS OF OPERATIONS


                   THREE MONTHS ENDED AUGUST 31, 2001 AND 2000

RESULTS OF OPERATIONS

Net sales for the three months ended August 31, 2001 were $4,506,718 compared to
$4,123,238 for the same period of the prior year, an increase of $383,480 or
9.3%. Specialty grout and epoxy products net sales increased $594,222 or 73.2%.
This increase was a result of higher sales to established Certified Applicators
as well as increased orders from recently signed Certified Applicators.
Equipment and parts net sales decreased $210,742, or 6.4%. This decrease was
primarily a result of decreased sales of fiberglass equipment and parts and to a
lesser extent a decrease in polyurethane equipment. Domestic equipment and parts
net sales decreased 11%, whereas foreign equipment and parts net sales were
flat.

The Company's gross margin increased to $2,131,501, or 47.3% of net sales, in
the current quarter from $1,878,916, or 45.6% of net sales, in the comparable
2000 quarter. This increase was due to the increased sales volume and the
increase in gross margin percentage was a result of a favorable product mix.

Operating expenses for the three months ended August 31, 2001 were $1,602,423
compared to $1,493,911 for the same period of the prior year, an increase of
$108,512, or 7.3%. This increase was principally due to higher personnel costs
in the research, development and engineering and administrative categories.

During the third quarter of 2001, other income, net of other expenses, decreased
from the same period in the prior year by $34,037. This decrease was a result of
income generated from the three-year non-compete agreement being full amortized
in earlier periods and decreased income from the unconsolidated affiliate,
offset by reduced interest expense.

                   NINE MONTHS ENDED AUGUST 31, 2001 AND 2000

RESULTS OF OPERATIONS

Net sales for the nine months ended August 31, 2001 were $12,296,382 compared to
$11,878,793 for the same period of the prior year, an increase of $417,589 or
3.5%. Specialty grout and epoxy products net sales increased $1,312,777 or
59.7%. This increase was a result of higher sales to established Certified
Applicators as well as increased orders from recently signed




                                       10
<PAGE>   13

                           COHESANT TECHNOLOGIES INC.

                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                      CONDITION AND RESULTS OF OPERATIONS

Certified Applicators. Equipment and parts net sales decreased $895,188 or 9.2%.
This decrease was primarily a result of decreased sales of fiberglass equipment
and parts and to a lesser extent a decrease in polyurethane equipment and OEM
equipment and part sales. Foreign equipment and parts net sales decreased 15%,
whereas domestic equipment and parts net sales decreased 4%. The decrease in
foreign sales was primarily a result of decreased sales to Europe/Middle East
and to a lesser extent the Asia/Pacific Rim and South America.

The Company's gross margin increased to $5,522,804, or 44.9% of net sales, in
the current period from $5,164,502, or 43.5% of net sales, in the 2000 period.
The increase in dollars and margin percentage were due to the increased sales
volume and the favorable product mix of specialty grout and epoxy products,
which have higher margins.

Operating expenses for the nine months ended August 31, 2001 were $4,336,341
compared to $4,285,057 for the same period of the prior year, an increase of
$51,284, or 1.2%.

During the nine months ended August 31, 2001 other income, net of other
expenses, decreased from the same period in the prior year by $140,390. This
decrease was a result of income generated from the three-year non-compete
agreement being full amortized and decreased income from the unconsolidated
affiliate, offset by reduced interest expense.

LIQUIDITY AND CAPITAL RESOURCES

The Company's primary sources of liquidity are cash provided by operations and
availability under the revolving line of credit. Cash provided by and (used in)
operations were $659,688 and ($565,291) for the nine month period ended August
31, 2001 and 2000, respectively. At August 31, 2001 the Company has cash of
$614,117, net working capital of $5,604,130 and $3,500,000 available under the
revolving line of credit.

On April 1, 2001, the Company renewed its revolving line of credit agreement
with a bank. This $3,500,000 credit facility accrues interest at the bank's
prime lending rate (6.50% as of August 31, 2001). The credit facility is fully
secured by a lien on all the assets of the Company and its operating
subsidiaries. The credit facility expires on May 1, 2002. This agreement
requires that the Company meet certain covenants including financial ratios. As
of August 31, 2001 the Company was in compliance with the covenants and
financial ratios and did not have a balance outstanding under this facility.

The Board of Directors at their September 2001 meeting authorized the
re-purchase of up to 250,000 shares of the Company's common stock in the open
market.





                                       11
<PAGE>   14

                           COHESANT TECHNOLOGIES INC.

                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS


The FASB issued three new statements of financial accounting standards in July
2001: SFAS No. 141, "Business Combinations" (SFAS 141), SFAS No. 142, "Goodwill
and Other Intangible Assets" (SFAS 142) and SFAS No. 143, "Accounting for Asset
Retirement Obligations" (SFAS 143). The Company is currently reviewing these
pronouncements and there effect on operations. See footnote 8 of the Condensed
Consolidated Financial Statements.

FORWARD LOOKING STATEMENTS

Certain statements contained in this report that are not historical facts are
forward looking statements that are subject to certain risks and uncertainties
that could cause actual results to differ materially from those set forth in the
forward looking statement. These risks and uncertainties include, but are not
limited to, a continued slow-down in domestic and foreign markets for plural
component dispensing systems and a reduction in growth of markets for the
Company's specialty grout and epoxy products.






                                       12
<PAGE>   15

                           COHESANT TECHNOLOGIES INC.

PART II.   OTHER INFORMATION
----------------------------

Item 1.  Legal Proceedings

         The Company is party to certain legal and environmental matters arising
in the ordinary course of business. Management believes the ultimate disposition
of these matters will not have a material adverse effect on the Company's
financial position or results of operation.

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

     a)   The Company's annual meeting of stockholders was held on June 4, 2001.

     b)   At the annual meeting, the Company's stockholders elected Morton A.
          Cohen, Dwight D. Goodman, Michael L. Boeckman, Richard L. Immerman and
          Morris H. Wheeler as Directors for a term that expires at the annual
          meeting of stockholders in 2002.

     c)   At the annual meeting, the Company's stockholders ratified the
          amendment to the Company's 1994 Stock Option Plan increasing the
          number of shares by 66,000. The holders of 2,260,663 shares of Common
          Stock voted to ratify the amendment, the holders of 37,750 shares
          voted against the amendment, and the holders of 38,977 shares
          abstained.

     d)   At the annual meeting, the Company's stockholders ratified the
          appointment of Arthur Andersen LLP as auditors of the Company for
          fiscal 2001. The holders of 2,336,303 shares of Common Stock voted to
          ratify the appointment, the holders of 400 shares voted against the
          ratification, and the holders of 687 shares abstained.

          The following tabulation represents voting for the Directors:

                                                                Withheld
                                           For                  Authority
                                    -----------------  -------------------------

          Michael L.  Boeckman            2,334,390               3,000
          Morton A. Cohen                 2,334,390               3,000
          Dwight D. Goodman               2,216,992             120,398
          Richard L. Immerman             2,333,990               3,400
          Morris H. Wheeler               2,333,990               3,400


Item 6.  Exhibits and reports on Form 8-K -none







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<PAGE>   16

                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned there unto duly authorized.

Dated:      September 24, 2001


                                         COHESANT TECHNOLOGIES INC.


                                     BY: /s/ Robert W. Pawlak
                                         ----------------------------------
                                         Robert W. Pawlak
                                         Chief Financial Officer



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