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 June 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
August 9, 2001: 15,364,566.


<PAGE>



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

<TABLE>
INDEX
<CAPTION>
<S>                                                                                            <C>
PART I    FINANCIAL INFORMATION

Item 1    Financial Statements

Consolidated Balance Sheet as of  June 30, 2001...............................................  3

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

Consolidated Statement of Cash Flows for the Quarter Ended June 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................................................... 8

PART II   OTHER INFORMATION

Item 1 Legal Proceedings.....................................................................  10

Item 2 Changes in Securities.................................................................  10

Item 3 Defaults Upon Senior Securities.......................................................  10

Item 4 Submission of Matters to a Vote of Security Holders...................................  10

Item 5 Other Information.....................................................................  10

Item 6 Exhibits and Reports on Form 8-K......................................................  10

Signatures...................................................................................  11

</TABLE>

<PAGE>

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


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

<TABLE>
<CAPTION>
ASSETS                                                                        June 30,2001        Dec. 31,2000
                                                                              ------------        ------------
<S>                                                                           <C>                 <C>
Current Assets
   Cash                                                                                $20,143             $34,856
   Accounts Receivable, Net of allowance of $0 and $82,000                                   0              17,343
   Prepaid Expenses                                                                      8,346               8,346
   Stock Subscription Receivable                                                             0             101,329
                                                                                             -             -------
Total Current Assets                                                                   $28,489            $161,874

Property and Equipment, Net (Note 2)                                                   149,976             153,428
                                                                                       -------             -------

Total Assets                                                                          $178,465            $315,302
                                                                                      ========            ========

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
   Accounts Payable                                                                  $ 185,161           $ 139,798
   Capital Lease Obligation, Current Portion                                           161,621              84,550
                                                                                       346,782             224,348
Long Term Liabilities
   Capital Lease Obligation, Noncurrent Portion                                                             79,071
                                                                                                            ------
                                                                                       346,782             303,419
Stockholders' Equity
   Preferred Stock (Authorized 1,000,000 shares):  Convertible Series B,            $1,057,464          $1,029,578
$0.25 Par Value, Issued and
Outstanding, 81.5 and 81.5 respectively, at redemption value
   Common Stock: $0.001 Par Value; Authorized Shares,                                   15,365              11,565
100,000,000; Issued and Outstanding, 15,364,566 and
11,564,566, at June 30, 2001 and December 31, 2000, respectively
   Warrants                                                                            117,830             117,830
   Additional Paid In Capital                                                       12,317,408          12,160,423
   Accumulated Deficit                                                             (13,676,384)        (13,307,513)
                                                                                  ------------        ------------
Total Stockholders' Equity                                                           $(168,317)           $ 11,883
                                                                                    ----------            --------

Total Liabilities and Stockholders' Equity                                            $178,465            $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 JUNE 30, 2001 AND 2000, AND
                 FOR THE SIX MONTHS ENDED JUNE 30, 2001 AND 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                 For The Three    For The Three         For The Six        For The Six
                                                 Months Ended     Months Ended          Months Ended June  Months Ended June
                                                 June 30, 2001    June 30, 2000         30, 2001           30,2000
                                                 -------------    -------------         --------           -------
<S>                                              <C>              <C>                   <C>                <C>
 Revenues                                                  $   0        $  146,945           $ 24,560           $ 387,857
 Expenses
    General and Administrative                           110,350         1,331,035            395,328           2,511,659

 Operating Loss                                         (110,350)       (1,184,090)          (370,768)         (2,123,802)
 Other Income
    Interest Income                                          782            28,463              1,897              66,353

 Net Loss                                               (109,568)       (1,155,627)          (368,871)        (2 ,057,449)

 Less: Preferred Stock Deemed                            (14,020)          (23,033)           (27,886)            (72,396)
 Dividends
 Net Loss Available to Common Shareholders            $ (123,588)      $(1,178,660)         $(396,757)        $(2,129,845)

 Basic Loss Per Common Share                          $   (0.008)      $     (0.12)          $ (0.028)   $        (0.21)

 Basic Weighted Average Common Shares                15,364,566        10,211,248          14,352,411         10,093,200
                                                     ===========       ===========         ==========         ==========
 Outstanding

</TABLE>

                  See Notes to condensed financial statements.

<PAGE>

                   MEDCARE TECHNOLOGIES, INC. AND SUBSIDIARIES
                  INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS
               FOR THE THREE MONTHS ENDED MARCH 31, 2001 AND 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                          Six Months Ended   Six Months Ended
                                                                          June 30, 2001      June 30, 2000
                                                                          -------------      -------------
<S>                                                                       <C>                <C>
Cash Flows From Operating Activities
   Net Loss                                                                    $  (368,870)    $  (2 ,057,449)
   Adjustments to Reconcile Net Loss to Net Cash
Used
   By Operating Activities
   Equipment Write Off                                                                   0             33,351
   Depreciation                                                                      3,452             44,130
   Nonemployee stock option expense                                                      0              6,750
   Changes in Assets and Liabilities
      (Increase) Decrease in Accounts  Receivable                                   17,343             91,576
      (Increase) Decrease in Prepaid Expenses                                            0              7,555
      (Increase) Decrease in Stock Subscription  Receivable                        101,329                  0
       Increase (Decrease) in Accounts Payable                                      45,363            323,562
                                                                        --------------------------------------
   Total Adjustments                                                               167,487            506,924
                                                                        --------------------------------------
Net Cash Used By Operating Activities                                            (201,383)        (1,550,525)

Cash Flows From Investing Activities
   Purchase of Property and Equipment                                                    0           (59,705)
                                                                                         -           --------
Net Cash Flows From Investing Activities                                                 0           (59,705)

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                                  (14,713)        (1,610,230)
Cash and Cash Equivalents, Beginning of Year                                        34,856          3,218,228
                                                                        --------------------------------------
Cash and Cash Equivalents, End of Year                                            $ 20,143      $ 1,607,998
                                                                                  ========      =============

</TABLE>

                 See notes to condensed to financial statements.

<PAGE>


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

<TABLE>
<CAPTION>

                                                                       Six Months Ended    Six Months Ended
                                                                       June 30, 2001       June 30, 2000
                                                                       -------------       -------------
<S>                                                                    <C>                 <C>
Supplemental Information
      Preferred Stock Deemed Dividends                                       $   27,886           $   72,396
                                                                             ==========           ==========
      Interest                                                         $              0       $            0
                                                                          =============           ==========
      Income Taxes                                                     $              0       $            0
                                                                          =============           ==========

</TABLE>

                  See notes to condensed financial statements.

<PAGE>


                  MEDCARE TECHNOLOGIES, INC. AND SUBSIDIARIES
                      NOTES TO INTERIM FINANCIAL STATEMENTS
                             JUNE 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
June 30,  2001 and the results of  operations  and cash flows for the six months
ended June 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 capital  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             6 m/e            3 m/e         6 m/e
                                                     6/30/01           6/30/01          6/30/00       6/30/00
                                                     -------           -------          -------       -------
<S>                                                  <C>               <C>              <C>           <C>
Numerator-Net loss available
   To Common stockholders                            $  (123,588)      $   (396,757)    $ (1,178,660) $ (2,129,845)
Denominator-Weighted average
   number of common shares outstanding                15,364,566         14,352,411       10,211,248    10,093,200
Basic loss per common share                          $    (0.008)      $     (0.028)    $      (0.12) $      (0.21)

</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  additional  revenue streams from the Company's current  intellectual
property base.

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

Revenues. The Company generated $0 and $24,560 in revenues for the three and six
months ended June 30, 2001, respectively,  versus $146,945 and $387,857, 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 six months ended June
30, 2001, the Company incurred $110,350 and $395,328,  respectively,  in general
and administrative  expenses, a decrease of 92% and 84% 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.

<PAGE>

Interest  Income.  Interest  income was $782 and  $1,897,  for the three and six
months ended June 30,  2001,  respectively,  versus  $28,463 and $66,353 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 June 30, 2001,  the  Company's  accumulated
deficit  was  approximately  $13,676,384,  and as a  result,  there  has been no
provision for income taxes to date.

Net Loss. For the three and six month ended June 30, 2001, the Company  recorded
net losses of $109,568,  and  $368,871,  respectively  compared to a net loss of
$1,155,627, and $2,057,449, for the same periods in 2000.

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

At June 30, 2001, the Company had a cash balance of $20,143, compared to $34,856
at December 31, 2000. The Company has financed its operations  primarily through
cash on hand during the three and six month periods ended June 30, 2001.

Net cash flows  used by  operating  activities  was  $201,383  for the six month
period  ending  June 30,  2001,  compared  to net cash flows  used by  operating
activities of $1,550,525 for the same period in 2000.  This change was primarily
due to a decrease in net losses for the six month period ending June 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 streams from
the Company's current intellectual property base.

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.

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.

PART II -- OTHER INFORMATION

<PAGE>

Item 1    Legal Proceedings
---------------------------

None

Item 2    Changes in Securities
-------------------------------

At an Annual  General  Meeting held on July 12, 2001,  shareholders  approved an
increase in authorized common shares from 100,000,000 to 300,000,000, with a par
value of $0.00001.

Item 3    Defaults Upon Senior Securities
-----------------------------------------

None

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

At an Annual General Meeting held on July 12, 2001, shareholders approved a name
change to Enterprise  Technologies,  Inc., a change in state  registration  from
Delaware to Nevada, and an increase in authorized common shares from 100,000,000
to 300,000,000,  with a par value of $0.00001.  Also, the shareholders  approved
the Company's 2001 stock option plan with 10,000,000  common shares reserved for
issuance thereunder.

Item 5    Other Information
---------------------------

None

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

None



<PAGE>


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: August 10, 2001