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 quarterly period ended September 30, 2001

     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:  0-28790

                           MEDCARE TECHNOLOGIES, INC.
                           --------------------------
             (exact name of registrant as specified in its charter)

DELAWARE                                                87-0429962 B
-------------                                          ---------------
(State or other jurisdiction of                (IRS Employer Identification No.)
incorporation or organization)

Suite 216 - 1628 West 1st Avenue, Vancouver, BC,              V6J 1G1
------------------------------------------------            -----------
(Address of principal executive offices)

Registrant's telephone number, including area code:           (604) 659-5005
                                                           -------------------

Indicate  by check  mark  whether  the  registrant:  (1) has filed  all  reports
required by Section 13 or 15 (d) of the  Securities  Exchange Act of 1934 during
the  preceding 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 ----

The number of shares of the Registrant's  Common Stock,  $0.001 par value, as of
November 5, 2001: 15,364,566.


<PAGE>


                           MEDCARE TECHNOLOGIES, INC.
                  FORM 10-QSB, QUARTER ENDED SEPTEMBER 30, 2001

<TABLE>
INDEX
<CAPTION>

PART I    FINANCIAL INFORMATION

Item 1    Financial Statements

<S>                                                                                                 <C>
Consolidated Balance Sheet as of September 30, 2001................................................  3

Consolidated Statement of Operations for the Quarter Ended September 30, 2001 and 2000.............  4

Consolidated Statement of Cash Flows for the Quarter Ended September 30, 2001 and 2000.............  5

Notes to Interim Financial Statements............................................................... 7

All schedules are omitted because they are not applicable or the required
information is shown in the financial statements or notes thereto.


Item 2  Management's Discussion and Analysis........................................................ 9

PART II   OTHER INFORMATION

Item 1 Legal Proceedings...........................................................................  11

Item 2 Changes in Securities.......................................................................  11

Item 3 Defaults Upon Senior Securities.............................................................  11

Item 4 Submission of Matters to a Vote of Security Holders.........................................  11

Item 5 Other Information...........................................................................  11

Item 6 Exhibits and Reports on Form 8-K............................................................  11

Signatures.........................................................................................  12

</TABLE>

<PAGE>

Item 1 Financial Statements
---------------------------


                   MEDCARE TECHNOLOGIES, INC. AND SUBSIDIARIES
                       INTERIM CONSOLIDATED BALANCE SHEET
                    SEPTEMBER 30, 2001 AND DECEMBER 31, 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
ASSETS                                                                       Sept. 30, 2001       Dec. 31, 2000
                                                                             --------------       -------------
<S>                                                                          <C>                  <C>
Current Assets
   Cash                                                                      $             204    $         34,856
   Accounts Receivable, Net of allowance of $0 and $82,000                                   0              17,343
   Prepaid Expenses                                                                      2,685               8,346
   Stock Subscription Receivable                                                             0             101,329
Total Current Assets                                                                     2,889             161,874

Property and Equipment, Net                                                                  0             153,428

Total Assets                                                                 $           2,889    $        315,302

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
   Accounts Payable                                                          $         222,677    $        139,798
   Capital Lease Obligation, Current Portion                                           161,621
                                                                                        84,550
                                                                                       384,298             224,348
Long Term Liabilities
   Capital Lease Obligation, Noncurrent Portion                                              0
                                                                                        79,071
                                                                                       384,298
                                                                                       303,419
Stockholders' Equity
   Preferred Stock (Authorized 1,000,000 shares):  Convertible Series B,
$0.25 Par Value, Issued and
Outstanding, 81.5 and 81.5 respectively, at redemption value                         1,071,638           1,029,578
   Common Stock: $0.001 Par Value; Authorized Shares,
100,000,000; Issued and Outstanding, 15,364,566 and
11,564,566, at September 30, 2001 and December 31, 2000, respectively
                                                                                        15,365              11,565
   Warrants                                                                            117,830             117,830
   Additional Paid In Capital                                                       12,303,234          12,160,423
   Accumulated Deficit                                                             (13,889,476)        (13,307,513)
Total Stockholders' Equity                                                            (381,409)             11,883

Total Liabilities and Stockholders' Equity                                   $           2,889    $        315,302

</TABLE>

                  See notes to condensed financial statements.

<PAGE>

                   MEDCARE TECHNOLOGIES, INC. AND SUBSIDIARIES
                  INTERIM CONSOLIDATED STATEMENT OF OPERATIONS
             FOR THE THREE MONTHS ENDED SEPT. 30, 2001 AND 2000, AND
                FOR THE NINE MONTHS ENDED SEPT. 30, 2001 AND 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
                                               For The Three      For The Three      For The Nine           For The Nine
                                               Months Ended       Months Ended       Months Ended           Months Ended Sept.
                                               Sept. 30, 2001     Sept. 30, 2000     Sept. 30, 2001         30, 2000
                                               --------------     --------------     --------------         --------
<S>                                            <C>                <C>                <C>                    <C>
Revenues                                       $             0    $       136,131    $         24,560       $     523,989

Expenses
   General and Administrative                          220,058          1,078,543             608,482           3,590,201
Operating Loss                                        (220,058)          (942,412)           (583,922)         (3,066,212)
Other Income
   Interest Income                                          62             14,754               1,959              81,107

Net Loss                                              (219,996)          (927,658)           (581,963)         (2,985,105)

Less: Preferred Stock Deemed
Dividends                                              (14,174)           (21,898)            (42,060)            (94,294)
Net Loss Available to Common Shareholders
                                               $      (234,170)   $      (949,556)   $       (624,023)      $  (3,079,399)

Basic Loss Per Common Share                    $         (0.02)   $         (0.09)   $          (0.04)      $       (0.30)

Basic Weighted Average Common Shares
Outstanding                                         15,364,566         10,700,548          14,693,504          10,298,628

</TABLE>

                  See Notes to condensed financial statements.

<PAGE>

                   MEDCARE TECHNOLOGIES, INC. AND SUBSIDIARIES
                  INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS
             FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2001 AND 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                        Nine Months Ended  Nine Months Ended
                                                                        Sept. 30, 2001     Sept. 30, 2000
                                                                        --------------     --------------
<S>                                                                     <C>                <C>
Cash Flows From Operating Activities
   Net Loss                                                             $         (581,963)$       (2,985,105)
   Adjustments to Reconcile Net Loss to Net Cash
Used
   By Operating Activities
   Equipment Write Off                                                             153,428             33,351
   Depreciation                                                                          0             82,389
   Nonemployee stock option expense                                                      0             13,500
   Changes in Assets and Liabilities
      (Increase) Decrease in Accounts Receivable                                    17,343             83,244
      (Increase) Decrease in Prepaid Expenses                                        5,661             85,956
      (Increase) Decrease in Stock Subscription Receivable                         101,329                  0
       Increase (Decrease) in Accounts Payable                                      82,879             83,251
       Increase (Decrease) in Deferred Revenue                                           0             55,406
                                                                        --------------------------------------
   Total Adjustments                                                               360,640            437,097
                                                                        --------------------------------------
Net Cash Used In Operating Activities                                             (221,323)        (2,548,008)

Cash Flows From Investing Activities
   Purchase of Property and Equipment                                                    0            (51,042)
                                                                                         -           --------
Net Cash Flows Used In Investing Activities                                              0            (51,042)
                                                                                                      ------

Cash Flows From Financing Activities
   Proceed From Sales of Common Stock                                              188,671                  0
   Payments on Capital Lease Obligation                                             (2,000)                  0
                                                                        --------------------------------------
Net Cash Provided By Financing Activities                                          186,671                  0
                                                                        --------------------------------------

Increase (Decrease) in Cash and Cash Equivalents                                   (34,652)        (2,599,050)
Cash and Cash Equivalents, Beginning of Year                                        34,856          3,218,228
                                                                        --------------------------------------
Cash and Cash Equivalents, End of Year                                              $  204        $ 619,178
                                                                                    ======        ===========
</TABLE>


                 See notes to condensed to financial statements.

<PAGE>

                   MEDCARE TECHNOLOGIES, INC. AND SUBSIDIARIES
                  INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001 AND 2000
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                      Nine Months Ended    Nine Months Ended
                                                                      Sept. 30, 2001       Sept. 30, 2000
                                                                      --------------       --------------
<S>                                                                   <C>                  <C>
Supplemental Information
      Preferred Stock Deemed Dividends                                 $         42,060     $       94,294
      Interest                                                         $              0     $            0
      Income Taxes                                                     $              0     $            0
      Fixed Assets Acquired Under Capital Lease                        $              0     $      169,432

</TABLE>

                  See notes to condensed financial statements.

<PAGE>

                   MEDCARE TECHNOLOGIES, INC. AND SUBSIDIARIES
                      NOTES TO INTERIM FINANCIAL STATEMENTS
                           SEPTEMBER 30, 2001 AND 2000

NOTE 1 - PRESENTATION OF INTERIM INFORMATION

The accompanying  unaudited interim  financial  statements have been prepared in
accordance   with  Form  10QSB  and  in  the  opinion  of   management   MedCare
Technologies,   Inc.  and  Subsidiaries   (the  Company),   include  all  normal
adjustments  considered necessary to present fairly the financial position as of
September  30,  2001 and the results of  operations  and cash flows for the nine
months ended September 30, 2001 and 2000.  These results have been determined on
the basis of generally accepted accounting  principles and practices and applied
consistently  with those used in the  preparation  of the Company's  2000 Annual
Report on 10-KSB.

Certain information and footnote  disclosures normally included in the financial
statements presented in accordance with generally accepted accounting principles
have been condensed or omitted. It is suggested that the accompanying  unaudited
interim  financial   statements  be  read  in  conjunction  with  the  financial
statements  and notes thereto  incorporated  by reference in the Company's  2000
Annual Report on 10-KSB.

NOTE 2  - Financial Results and Liquidity

To date, we have not been profitable.  We face all the risks common to companies
in  their  early  stages  of  development,   including  undercapitalization  and
uncertainty of funding sources,  high initial  expenditure  levels and uncertain
revenue  streams,  an unproven  business  model,  and  difficulties  in managing
growth.  Our  recurring  losses  raise  substantial  doubt  about our ability to
continue  as a going  concern.  Our  financial  statements  do not  reflect  any
adjustments that might result from the outcome of this uncertainty.  The Company
expects to incur losses as it expands its businesses and will require additional
funding during 2001. The  satisfaction of our cash  requirements  hereafter will
depend in large part on our ability to successfully  raise capital from external
sources to pay for our planned  expenditures and to fund  operations.  We do not
expect that sufficient cash will be generated from operations to fund our growth
for the  foreseeable  future.  As a result,  we expect  to  aggressively  pursue
additional  sources  of  funds,  the  form of which  will  vary  depending  upon
prevailing market and other conditions and may include a sale transaction or the
issuance of equity securities.

The Company has  explored  the  possibility  of selling or merging  with another
Company.  Although  the Company has not entered  into any binding  agreement  to
effect such a  transaction,  the board of directors of the Company does consider
such offers and would consider all of the terms of any such offer as part of its
fiduciary duty to determine whether any such transaction is in the best interest
of the Company's  stockholders.  If our board of directors does determine that a
sale  or  merger  of the  Company  is in the  best  interests  of the  Company's
stockholders,  our board of directors may determine to pursue such a transaction
and the  consideration to be paid in connection with such  transaction  would be
used to expand our business  and fund future  operations.  We cannot  assure you
that we will be able to raise funds through a sale or equity transaction,  or if
such funding is available,  that it will be on favorable terms. Our common stock
is currently  traded on the  over-the-counter  market on an electronic  bulletin
board.

<PAGE>

NOTE 3 - Basic Loss Per Share

Basic  earnings  or loss per share is based on the  weighted  average  number of
shares  outstanding  during  the  period of the  financial  statements.  Diluted
earnings or loss per share are based on the  weighted  average  number of common
shares outstanding and dilutive common stock equivalents.  All per share and per
share information are adjusted retroactively to reflect stock splits and changes
in par value,  when  applicable.  All earnings or loss per share  amounts in the
financial  statements are basic earnings or loss per share.  The  computation of
basic loss per share is as follows:

<TABLE>
<CAPTION>
                                                3 m/e            9 m/e            3 m/e              9 m/e
                                               9/30/01          9/30/01          9/30/00            9/30/00
                                               -------          -------          -------            -------
<S>                                            <C>              <C>              <C>                <C>
Numerator-Net loss available
   To Common stockholders                      $  (219,996)     $  (581,963)     $   (949,556)      $ (3,079,399)
Denominator-Weighted average number of
common shares outstanding                       15,364,566       14,693,504        10,700,548         10,298,628
Basic loss per common share                    $     (0.02)     $     (0.04)     $      (0.09)      $      (0.30)

</TABLE>

<PAGE>


Item 2 Management's  Discussion and Analysis of Financial  Condition and Results
       of Operations

When used in this discussion, the words "believes", "anticipates", "expects" and
similar expressions are intended to identify  forward-looking  statements.  Such
statements  are subject to certain  risks and  uncertainties,  which could cause
actual results to differ materially from those projected.  Readers are cautioned
not to place undue  reliance on these  forward-looking  statements,  which speak
only as of the date hereof.  The Company  undertakes  no obligation to republish
revised forward-looking  statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of  unanticipated  events.  Readers are
also urged to carefully review and consider the various  disclosures made by the
Company which attempt to advise  interested  parties of the factors which affect
the  Company's  business,  in this  report,  as well as the  Company's  periodic
reports on Forms 10-KSB,  10QSB and 8-K filed with the  Securities  and Exchange
Commission.

Overview
--------

MedCare  Technologies,   Inc.  is  the  developer  of  the  MedCare  Program,  a
non-pharmaceutical,  non-invasive  treatment program for patients suffering from
urinary incontinence and other pelvic disorders,  including pelvic pain, chronic
constipation, fecal incontinence and disordered defecation.

Due to the lack of significant  revenues and high operating cost associated with
supporting its various  physician  office and hospital based program sites,  the
Company  has  suffered  large  operating  losses.  In order to reduce  operating
expenses,  the Company  terminated  all of its MedCare  Program  sites in March,
2001. The Company is currently  searching for potential  joint venture  partners
that have existing operating infrastructures to which the MedCare Program can be
added as an ancillary service with minimal overhead. Additionally, MedCare plans
to  develop  other  potential   revenue  streams  from  the  Company's   current
intellectual property base and other technology based ventures.

Results of Operations
---------------------

Revenues.  The Company  generated  $0 and $24,560 in revenues  for the three and
nine  months  ended  September  30,  2001,  respectively,  versus  $136,131  and
$523,989,  for the same periods in 2000. This decrease in revenues is due to the
termination of the Company's MedCare Program sites. To date, the Company has not
relied on revenues for funding.

General and  Administrative  Expenses.  During the three and nine  months  ended
September 30, 2001, the Company incurred $220,058 and $608,482, respectively, in
general  and  administrative  expenses,  a decrease of 80% and 83% from the same
periods in 2000.  These decreases are primarily due to lower salary expenses and
reflect a reduction  in the ongoing  costs of  developing  and  maintaining  the
Company's operations,  including the write-off of $153,428 of computer equipment
during the three months ended September 30, 2001.

<PAGE>

Interest  Income.  Interest  income was $62 and  $1,959,  for the three and nine
months ended  September 30, 2001,  respectively,  versus $14,754 and $81,107 for
the same periods during 2000. Interest earned in the future will be dependent on
Company funding cycles and prevailing interest rates.

Provision for Income Taxes. As of September 30, 2001, the Company's  accumulated
deficit  was  approximately  $13,900,000,  and as a  result,  there  has been no
provision for income taxes to date.

Net Loss.  For the three and nine month ended  September  30, 2001,  the Company
recorded net losses of $219,996  and  $581,963,  respectively  compared to a net
loss of $581,963, and $2,985,105, for the same periods in 2000.

Liquidity and Capital Resources
-------------------------------

At  September  30,  2001,  the Company had a cash  balance of $204,  compared to
$34,856 at December 31, 2000. The Company has financed its operations  primarily
through cash on hand during the three and nine month period ended  September 30,
2001. The Company cannot pay its current liabilities and will require additional
funds.

Net cash flows used by  operating  activities  was  $221,323  for the nine month
period ending  September 30, 2001,  compared to net cash flows used by operating
activities of $2,548,008 for the same period in 2000.  This change was primarily
due to a decrease in net losses for the nine month period  ending  September 30,
2001.

Net cash flows from financing activities was $186,671,  representing $188,671 in
proceeds  from the sale of common  stock,  reduced  by a $2,000  payment  on the
capital lease obligation.

Plan of Operation
-----------------

For the next  twelve  months,  the  Company  plans  to  continue  searching  for
potential joint venture partners that have existing operating infrastructures to
which the MedCare  Program can be added as an  ancillary  service  with  minimal
overhead.  Additionally,  MedCare plans to develop  additional revenue potential
streams  from  the  Company's  current  intellectual  property  base  and  other
technology  based ventures.  At the Company's Annual General Meeting on July 12,
2001,  the  shareholders   approved  the  following:   (i)  a  change  in  state
registration  from  Delaware  to  Nevada,  (ii)  a  name  change  to  Enterprise
Technologies,   Inc.,  (iii)  an  increase  in  authorized  common  shares  from
100,000,000 to 300,000,000,  with a par value of $0.00001, (iv) adoption of 2001
stock  option  plan  with   10,000,000   common  shares  reserved  for  issuance
thereunder, and (v) ratification of its independent accountants.  The Company is
currently in the process of changing its domicile to Nevada and, once completed,
will implement the name change and increase in authorized capital.

The Company  does not expect to purchase  any  significant  equipment,  hire any
additional  employees,  or incur research and development  expenses. In order to
satisfy its cash needs over the next twelve  months,  the Company  plans to fund
its  operations  from  cash in the  bank and  also  plans  to  raise  additional
financing from third parties.  The Company's  future funding  requirements  will
depend on numerous factors.  These factors include the Company's ability to find
suitable joint venture  partners for its MedCare  Program,  operate its business
profitably in the future, recruit and train qualified management,  technical and
sales  personnel,  and the Company's  ability to compete  against other,  better
capitalized corporations.

<PAGE>

The  Company  may raise  additional  funds  through  private  or  public  equity
investment in order to expand the range and scope of its business operations. In
doing so, the Company may seek access to the private or public equity, but there
is no assurance that such additional  funds will be available for the Company to
finance its operations on acceptable terms, if at all.

Recent Accounting Pronouncements
--------------------------------

In June 2001, the Financial  Accounting Standards Board ("FASB") issued SFAS No.
141   "Business   Combinations".   SFAS  No.  141  requires  that  all  business
combinations be accounted for under the purchase method of accounting.  SFAS No.
141 also changes the criteria for the separate  recognition of intangible assets
acquired in a business  combination.  SFAS No. 141 is effective for all business
combinations  initiated  after June 30, 2001.  This statement is not expected to
significantly affect the financial statements.

In June 2001,  the FASB  issued  SFAS No. 142,  "Goodwill  and Other  Intangible
Assets".  SFAS No. 142 addresses  accounting and reporting for intangible assets
acquired,  except for those  acquired  in a business  combination.  SFAS No. 142
presumes  that goodwill and certain  intangible  assets have  indefinite  useful
lives.  Accordingly,  goodwill and certain intangibles will not be amortized but
rather  will be tested  at least  annually  for  impairment.  SFAS No.  142 also
addresses  accounting  and  reporting for goodwill and other  intangible  assets
subsequent  to their  acquisition.  SFAS No. 142 is  effective  for fiscal years
beginning  after  December 15,  2001.  This  statement  does not have a material
affect on the financial statements.

In June 2001,  the FASB issued SFAS No. 143,  "Accounting  for Asset  Retirement
Obligations".  SFAS No. 143  addresses  financial  accounting  and reporting for
obligations associated with the retirement of tangible long-lived assets and the
associated  asset  retirement  costs.  SFAS No. 143 is effective  for  financial
statements issued for fiscal years beginning after June 15, 2002. This statement
is not expected to have a material affect on the financial statements.

In August 2001, tbe FASB issued SFAS No. 144,  "Accounting for the Impairment or
Disposal of Long-Lived  Assets" which  supersedes  SFAS No. 121. This  statement
addresses  financial  accounting and reporting for the impairment or disposal of
long-lived assets. SFAS No. 144 is effective for financial statements issued for
fiscal years beginning after December 15, 2001, and interim periods within those
fiscal years.  This  statement is not expected to have a material  affect on the
financial statements.

PART II -- OTHER INFORMATION

Item 1 Legal Proceedings

     None

Item 2 Changes in Securities

     None

<PAGE>

Item 3 Defaults Upon Senior Securities

     None

Item 4 Submission of Matters to a Vote of Security Holders

     At the Company's  Annual General Meeting on July 12, 2001, the shareholders
approved the  following:  (i) a change in state  registration  from  Delaware to
Nevada, (ii) a name change to Enterprise  Technologies,  Inc., (iii) increase in
authorized  common shares from  100,000,000 to 300,000,000,  with a par value of
$0.00001,  (iv) adoption of 2001 stock option plan with 10,000,000 common shares
reserved  for  issuance  thereunder,  and (v)  ratification  of its  independent
accountants.

Item 5 Other Information

     None

Item 6 Exhibits and Reports on Form 8-K

     On August 14, 2001,  the Company filed a Form 8-K with the  Securities  and
Exchanged  Commission under Item 5 to disclose the results of its annual general
meeting on July 12, 2001.

                                 Signature Page

     Pursuant  to the  requirements  of  section  13 or 15(d) of the  Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.


                                                      MEDCARE TECHNOLOGIES, INC.

                                                                  /s/ Ray Krauss
                                                                 ---------------
                                                                      Ray Krauss
                                                               CEO and President

                                                             /s/ Harmel S. Rayat
                                                            --------------------
                                                                 Harmel S. Rayat
                                                           Director and Chairman

                                                          /s/ Harvinder Dhaliwal
                                                         -----------------------
                                                              Harvinder Dhaliwal
                                               Director, Secretary and Treasurer

Dated: November 12, 2001