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 MARCH 31, 2002

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

        For the transition period from ________________ to _______________

                         Commission File Number: 0-27862

                            REALITY INTERACTIVE, INC.
        (Exact name of small business issuer as specified in its charter)

       NEVADA                                            80-0028196
------------------------                  -------------------------------------
 State of Incorporation                   I.R.S. Employer Identification Number

                               2200 Phoenix Tower
                             3200 Southwest Freeway
                                Houston, TX 77027
                    (Address of principal executive offices)


                                  713-521-0221
                           (Issuer's telephone number)

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 [ ]


                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity. As of March 31, 2002 - 2,124,916 shares of Common Stock

Transitional Small Business Disclosure Format (check one):  Yes [ ]   No [X]


<PAGE>


                           REALITY INTERACTIVE, INC.
                                      INDEX

                                                                     Page
                                                                    Number

PART I    FINANCIAL INFORMATION

Item 1. Financial Statements

   Balance Sheets...................................................... 3

   Statements of Operations............................................ 4

   Statements of Stockholders' Equity (Deficit)........................ 5

   Statements of Cash Flows............................................ 6

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

Item 2.  Management's Discussion and Analysis of Financial
            Condition and Results of Operations........................ 8

Part II. OTHER INFORMATION

Item 1.  Legal Proceedings ............................................ 9

Item 2.  Change in Securities and Use of Proceeds...................... 9

Item 3.  Defaults Upon Senior Securities............................... 9

Item 4.  Submission of Matters to a Vote of Security Holders........... 9

Item 5.  Other Information............................................. 9

Item 6.  Exhibits and Reports on Form 8-K.............................. 9

SIGNATURES ............................................................10


                                       2
<PAGE>

PART I  FINANCIAL INFORMATION

Item 1.  Financial Statements

<TABLE>
<CAPTION>
REALITY INTERACTIVE INC.
BALANCE SHEET
MARCH 31, 2002 AND DECEMBER 31, 2001


                                                       March 31           December 31
                                                        2002                 2001
                                                      -----------         -----------
                                                      (Unaudited)
<S>                                                   <C>                 <C>
ASSETS
Current assets:
Cash                                                  $       266         $       266
Other current assets                                            0                   0
                                                      -----------         -----------
Total current assets                                          266                 266
                                                      -----------         -----------
                                                      $       266         $       266
                                                      ===========         ===========
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
  Accounts payable                                    $     8,867         $     8,867
  Accrued liabilities                                           0                   0
                                                      -----------         -----------
    Total current liabilities                               8,867               8,867
                                                      -----------         -----------
Stockholders' deficit:
Common stock, $.001 par value, 100,000,000 shares
  authorized, 2,124,916 and 124,916 shares issued
  and outstanding                                           2,125                 125
  Additional paid-in capital                           15,809,891          15,731,891
  Accumulated deficit                                 (15,820,617)        (15,740,617)
                                                      -----------         -----------
    Total stockholders' deficit                            (8,601)             (8,601)
                                                      -----------         -----------
                                                      $       266         $       266
                                                      ===========         ===========
</TABLE>


                 See accompanying notes to financial statements.

                                       3
<PAGE>



REALITY INTERACTIVE, INC.
STATEMENTS OF OPERATIONS
FOR THE 3 MONTH PERIOD ENDED MARCH 31, 2002 AND 2001
(Unaudied)

                                                 March 31          March 31
                                                   2002              2001
                                                ----------        ---------

Cost of revenues                                $        0        $        0
                                                ----------        ---------
Gross profit                                             0                 0
                                                ----------        ---------
Operating expenses:
  General and administrative                        80,000            4,493
                                                ----------        ---------
Total operating expenses                            80,000            4,493
                                                ----------        ---------
Loss from operations                               (80,000)          (4,493)
                                                ----------        ---------
Gain on sale of intellectual property                    0                0
Interest income                                          0               18
                                                ----------        ---------
Total other income (expense)                             0               18
                                                ----------        ---------
Net loss                                        $  (80,000)       $  (4,475)
                                                ===========       =========
Basic and diluted loss per share                $    (0.04)       $   (0.00)
                                                ===========       =========
Weighted average common shares outstanding        2,124,916       4,677,407
                                                ===========       =========












                 See accompanying notes to financial statements.

                                       4

<PAGE>



<TABLE>
<CAPTION>
REALITY INTERACTIVE, INC.
STATEMENTS OF STOCKHOLDERS' DEFICIT
FOR THE PERIOD ENDED MARCH 31, 2002


                                                                          Additional
                                                     Common Stock           Paid-in        Accumulated
                                                 Shares        Amount       Capital          Deficit          Total
                                               ---------      --------    -----------      ------------     ----------
<S>                                            <C>            <C>         <C>              <C>              <C>
Balance - December 31, 1999                       46,774      $     47    $15,433,419      $(15,407,200)    $   26,266

  Net loss                                            --           --              --           (38,730)       (38,730)
                                               ---------      --------    -----------      ------------     ----------
Balance - December 31, 2000                       46,774            47     15,433,419       (15,445,930)       (12,464)
  Common stock issued for consulting services     11,475            11         98,539                           98,550
  Common stock sold in a private placement        66,667            67        199,933                          200,000
  Net loss                                            --           --              --          (294,687)      (294,687)
                                               ---------      --------    -----------      ------------     ----------
Balance - December 31, 2001                      124,916           125     15,731,891       (15,740,617)        (8,601)

Common stock sold S-8 options                  2,000,000         2,000         78,000                           80,000
Net loss                                                                                        (80,000)       (80,000)
                                               ---------      --------    -----------      ------------     ----------
Balance - March 31, 2002 (Unaudited)           2,124,916      $  2,125    $15,809,891      $(15,820,617)    $   (8,601)
                                               =========      ========    ===========      ============     ==========
</TABLE>













       See accompanying notes to financial statements.

                                        5


<PAGE>



REALITY INTERACTIVE, INC.
STATEMENTS OF CASH FLOWS
FOR THE PERIOD ENDED MARCH 31, 2002 AND 2001
(Unaudited)

                                                 March 31          March 31
                                                   2002              2001
                                                ----------        ---------

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                        $  (80,000)       $  (4,475))
Adjustments to reconcile net loss to cash
flows from operating activities:
  Common stock issued for consulting services            0                0
  Gain on disposal of intellectual property              0                0
  Changes in operating assets and liabilities:
  Other current assets                                   0                0
  Accounts payable                                       0                0
  Accrued liabilities                                    0                0
                                                ----------        ---------

  Net cash used by operating activities             (80,00)          (4,475)
                                                ----------        ---------

CASH FLOWS FROM FINANCING ACTIVITIES:
 Proceeds from sale of common stock                 80,000                0
                                                ----------        ---------

  Net cash from financing activities                80,000                0
                                                ----------        ---------
Net cash provided (used) during period                   0           (4,475)

Cash, beginning of period                              266            7,620
                                                ----------        ---------

Cash, end of period                             $      266        $   3,145
                                                ==========        =========






                    See accompanying notes to financial statements.

                                       6

<PAGE>


REALITY INTERACTIVE, INC.
NOTES TO THE FINANCIAL STATEMENTS
MARCH 31, 2002

1.   Organization and Status

     Reality Interactive,  Inc. (the "Company") was incorporated in Minnesota on
     May 24,  1994 for the  purpose  of  developing  technology-based  knowledge
     solutions for the corporate marketplace.

     On April 30, 1999,  the Company ceased  business  operations and terminated
     all  remaining  employees.  This  action  was  necessary  in  light  of the
     Company's liquidity needs and lack of revenue opportunities.

     On December 31, 2001,  the Company  executed a  Subscription  Agreement and
     Letter of Investment Intent (the "Investment")  with International  Venture
     Capital and Advisory, Inc. (the "Investor"), whereby the Investor agreed to
     purchase  66,667 shares of the  Company's  common stock at a price of $3.00
     per share. As a result of the  Investment,  the Investor owns 53.37% of the
     Company's  issued  and  outstanding  common  stock.  The  Company  used the
     proceeds of the Investment to pay its  outstanding  liabilities and accrued
     expenses.

     On January 23, 2002,  Reality  Interactive,  Inc. was  incorporated  in the
     State of Nevada as a wholly-owned subsidiary of the Company. On January 23,
     2002,  the Company  was merged into  Reality  Interactive,  Inc.,  a Nevada
     corporation  (the  "Surviving  Company").  Prior to the merger,  there were
     12,491,574  shares  outstanding  of the  Company.  Upon  completion  of the
     merger,  shareholders of the Company were entitled to exchange one share of
     the Company for one share of the  Surviving  Company.  On January 24, 2002,
     the   Surviving   Company   effected  a  1:100   reverse  stock  split  and
     re-authorized  100,000,000  shares  of common  stock  having a par value of
     $.001 per share and 5,000,000  shares of preferred stock having a par value
     of $.001 per share.  As of February 1, 2002,  the  Surviving  Company's new
     trading symbol is RLTI. Accordingly, all references to the number of shares
     of common stock and to per share  information  in the financial  statements
     have been  adjusted  to reflect the  reverse  stock split on a  retroactive
     basis.

     On February 15,  2002,  the  Surviving  Company  filed an S-8  Registration
     Statement with the Securities and Exchange Commission to register 5,000,000
     shares of common  stock,  $.001 par value.  On February 27, 2002, an option
     for 2,000,000  shares of common stock was exercised and issued  pursuant to
     the option agreement between the company and its employees.

     The  balance of the Common  Stock will be issued by the  Surviving  Company
     pursuant to its Stock Incentive Plan,  which has been approved by the Board
     of Directors of the Surviving Company. The Stock Incentive Plan is hoped to
     provide a method  whereby  current  employees and officers and non employee
     directors and consultants may be stimulated and allow the Surviving Company
     to secure and retain highly qualified  employees,  officers,  directors and
     non employee directors and consultants,  thereby advancing the interests of
     the Surviving Company, and all of its shareholders.

                                       7
<PAGE>

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

     The following  presentation of management's  discussion and analysis of the
Company's  financial  condition  and  results  of  operation  should  be read in
conjunction with the Company's  financial  statements and notes contained herein
for the three months ended March 31, 2002 and 2001.


GENERAL

     Reality Interactive,  Inc. (the "Company") was incorporated on May 24, 1994
for the  purpose of  developing  technology-based  knowledge  solutions  for the
industrial  marketplace.   On  April  30,  1999,  the  Company  ceased  business
operations,  sold  substantially  all of its  assets and  terminated  all of its
employees. Management of the Company believes this action was necessary in light
of the Company's liquidity needs and lack of short-term revenue opportunities.

     Since April 30, 1999, the Company has been exploring  potential uses of its
public shell. Until a suitable acquisition candidate can be found for the public
shell,  the Company  intends to comply with all SEC  reporting  requirements  in
order to maintain  its status as a public  company.  On  February  1, 2002,  the
Company acquired all of the issued and outstanding shares of Bright Europe Tech,
Inc. and Faster Cash ATM,  Inc. The future  business of the Company will be from
operating  gaming and lottery  concessions and from operating  automated  teller
machines in Eastern Europe.


RESULTS OF OPERATIONS

REVENUES.  Revenues were $0 for both the quarters ended March 31, 2002 and 2001.
This resulted because of the Company's decision to cease its business operations
effective April 30, 1999.

COST OF REVENUES. Cost of revenues were $0 for both the quarters ended March 31,
2002 and 2001. This resulted because of the Company's decision to cease business
operations effective April 30, 1999.

OPERATING EXPENSES. The Company's operating expenses for the quarter ended March
31,  2002 were  $80,000,  compared  to  operating  expenses  of $4,475 for 2001.
Operating  expenses for 2001 relate  primarily  to costs  incurred to maintain a
small  administrative  office in addition to the costs related to  maintaining a
fully reporting  status with the Securities and Exchange  Commission.  Operating
expenses  for the quarter  ended March 31, 2002 relate to  consulting  services,
significant  legal  costs,  costs  incurred to  maintain a small  administration
office, costs related to maintaining company and costs associated with resolving
certain outstanding corporate issues.

     The  Company   expects  that  it  will   continue  to  incur   general  and
administrative  expenses  for the year 2002 as it  continues to maintain a small
administrative  office, pursues opportunities for its public shell and maintains
its  status  as a fully  reporting  company  with the  Securities  and  Exchange
Commission.

                                       8
<PAGE>

INTEREST  INCOME.  The  Company's  interest  income was $0 for the quarter ended
March 31, 2002  compared to interest  income of $18 for the quarter  ended March
31, 2001.  Interest income  consisted  entirely of interest earned on short-term
investments.

NET LOSS. Net loss for the quarter ended March 31, 2002 was $80,000, compared to
a net loss of $4,475 for 2001. Since the Company has ceased business operations,
it does not expect to incur additional  substantial  losses in 2002,  except for
expenses relating to the operation of a small office, pursuing opportunities for
its public shell and SEC public filing requirements.

LIQUIDITY AND CAPITAL RESOURCES

     The  Company's  cash and cash  equivalents  were $266 as of March 31, 2002,
compared to $3,145 as of March 31, 2001 which was  partially  offset by the sale
of stock and the payment of stock for certain consulting services. This decrease
in cash was due  primarily  to the net loss from  operations  for the year ended
December 31, 2001.

     The Company has  sufficient  cash  balances to allow it to meet its minimal
operating expenditures for the current year. Therefore, the Company's ability to
fund future  operations  is dependent on the  Company's  identifying  a suitable
acquisition  candidate or receive proceeds from shareholder loans or the sale of
its common stock. Without the foregoing,  the Company will be unable to continue
as a going concern.


Part II. OTHER INFORMATION

Item 1.  Legal Proceedings
     None

Item 2.  Change in Securities and Use of Proceeds
     None

Item 3.  Defaults Upon Senior Securities
     None

Item 4.  Submission of Matters to a Vote of Security Holders
     Not applicable

Item 5.  Other Information
     Not applicable

Item 6.  Exhibits and Reports on Form 8-K

     (a)     Exhibits

          None

     (b)     Reports on Form 8-K

          None

                                       9
<PAGE>



                                   SIGNATURES

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 thereunto duly authorized.

                                             REALITY INTERACTIVE, INC.



                                             By: /s/ Brian Koehn
                                             -----------------------------
                                                Brian Koehn
                                                Chief Executive Officer and
                                                Chief Financial Officer
Date:  June 5, 2002






                                       10