SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549


                                   FORM 10-QSB
(Mark One)

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

                  For the quarterly period ended March 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 0-27929

                         WATERFORD STERLING CORPORATION
                         ------------------------------
        (Exact name of small business issuer as specified in its charter)


            Nevada                                      62-1655508
--------------------------------            ------------------------------------
(State or other jurisdiction of             (IRS Employer Identification Number)
 incorporation or organization

                200 S. Knowles Avenue, Winter Park, Florida 32790
                -------------------------------------------------
                    (Address of principal executive offices)

                                 (407) 622-2040
                            -------------------------
                           (Issuer's telephone number)

                             SKREEM.COM CORPORATION
               ----------------------------------------------------
               (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 June 10, 2001, 20,  887,815 shares of the issuer's  Common Stock,
$.01 par value, outstanding.

<PAGE>

                             SKREEM.COM CORPORATION

                                      INDEX

                                                                          Page
                                                                          Number
                                                                         -------

PART I -  FINANCIAL INFORMATION

         Item 1.  Financial Statements

                  Balance Sheets as of March 31, 2001 and
                  December 31, 2000.......................................... 3

                  Statements of Operations for the Three Months
                   Ended March 31, 2001 and 2000............................. 4

                  Statements of Cash Flows for the Three Months Ended March
                  31, 2001 and 2000.......................................... 5

                  Notes to Financial Statements.............................. 6

         Item 2. Management's Discussion and Analysis of Financial Condition
                  and Results of Operations..................................10

PART II - OTHER INFORMATION..................................................11

SIGNATURES        ...........................................................12



<PAGE>
                         PART I - FINANCIAL INFORMATION

ITEM 1.  -  FINANCIAL STATEMENTS

                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                           CONSOLIDATED BALANCE SHEET
                                 March 31, 2001

                                     ASSETS

CURRENT ASSETS:
  Cash                                                            $    10,310
  Prepaid expenses (Note 4)                                           114,142
                                                                  ------------
   Total current assets                                               124,452

MARKETABLE SECURITIES:
  Available for sale securities (Note 5)                               19,500
                                                                  ------------

EQUIPMENT:
  Office equipment                                                     40,761
  Accumulated depreciation                                         (   13,188)
                                                                  ------------
                                                                       27,573
OTHER ASSETS:
  Prepaid expenses - long term (Note 4)                                43,536
  Organization costs net of amortization                                  577
                                                                  ------------
                                                                  $   215,638
                                                                  ============
                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Bank overdraft                                                  $     2,137
  Accrued expenses                                                     26,620
  Notes payable - related parties (Note 6)                            189,356
                                                                  ------------
   Total current liabilities                                          218,113

STOCKHOLDERS EQUITY (Deficit):
  Common stock, par value $.01;
   authorized 30,000,0000 shares; issued
   and outstanding 20,887,815 shares                                  208,878
  Capital in excess of par                                          1,353,049
  Deficit accumulated during the
   development stage                                               (1,564,402)
                                                                  ------------
   Total stockholders' deficit                                     (    2,475)
                                                                  ------------
                                                                  $   215,638
                                                                  ============


                 See accompanying notes to financial statements


                                       3
<PAGE>



                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                      CONSOLIDATE STATEMENTS OF CASH FLOWS
               For the Three Months Ended March 31, 2001 and 2000
               May 17, 1989 (date of Inception) To March 31, 2001
<TABLE>


                                                           March 31, 2001    March 31, 2000     Inception to
                                                           --------------    --------------    March 31, 2001
<S>                                                        <C>                <C>              <C>

REVENUE
Sales of software                                              $     -                 -         $652,458
Sales of furniture                                              70,393                 -           70,393

Interest income                                                  2,152             9,465           53,097
                                                          -------------  ----------------  ---------------

                                                                72,545             9,465          775,948

COST AND EXPENSES:
Cost of furniture sold                                          58,244                 -           58,244
Selling, general & administrative                              361,110            78,080        1,589,937
Interest                                                         2,250                 -            5,847
Depreciation and amortization                                    2,319             1,485           19,060
Loss on sale of investments                                     36,762                 -           36,762
                                                          -------------  ----------------  ---------------

Total expenses                                                 460,685            79,565        1,709,850

LOSS BEFORE EXTRAORDINARY ITEM                               (388,140)          (70,100)        (933,902)

EXTRAORDINARY ITEM
Non-temporary loss on securities (Note 5)                    (630,500)                 -        (630,500)

NET LOSS                                                   (1,018,640)          (70,100)      (1,564,402)

OTHER COMPREHENSIVE INCOME
Unrealized gain or available-for-sale securities               200,000                 -                -

COMPREHENSIVE LOSS                                          $(818,640)         $(70,100)     $(1,564,402)
                                                          =============  ================  ===============

Loss per common share before extraordinary item                 $(.02)            $(.01)
Extraordinary loss per common share                              (.03)                 -
                                                          -------------  ----------------

Net loss per common share                                        (.05)             (.01)
                                                          =============  ================

Weighted average shares outstanding                         18,476,704        13,545,315
                                                          =============  ================
</TABLE>


                                       4
<PAGE>

                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                      CONSOLIDATE STATEMENTS OF CASH FLOWS
               For the Three Months Ended March 31, 2001 and 2000
               May 17, 1989 (date of Inception) To March 31, 2001
<TABLE>

                                                   March 31, 2001       March 31, 2000    Inception to March 2001
                                                   --------------       --------------    -----------------------
<S>                                                <C>                  <C>               <C>

CASH FLOWS FROM OPERATING  ACTIVITIES:

Net loss
Adjustment to reconcile net loss to                $ (1,018,641)          $ (70,101)           $ (1,564,402)
net cash by operating activities:
Loss on sale of investments                               36,762                   -                  36,762
Depreciation and amortization                              2,319               1,485                  13,548
(Increase) in accounts receivable                              -             (5,005)                       -
Bad debt                                                       -                   -                  12,074
Decrease in prepaid expenses                              12,875                   -                  12,875
Increase (decrease) in accounts payable                 (40,216)            (10,060)                  26,620
Bank overdraft                                             2,137                   -                   2,137
Revenue in non-cash transaction                                -                   -               (650,000)
Non-temporary loss on securities                         630,500                   -                 630,500
Expenses paid and debts settled with common
stock                                                    263,082                   -                 443,348
Loss on exchange of notes receivable for
prepaid rent                                                   -                   -                  45,200
Other expenses incurred in non-cash
transactions                                                   -                   -                  44,248
                                               ------------------  ------------------  ----------------------

Net cash (used) by operations                          (111,182)            (83,681)               (947,090)
                                               ------------------  ------------------  ----------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
Sale of securities available for sale
Issuance of notes receivable                              13,238                   -                  13,238
Collections on notes receivable                                -                   -               (290,733)
Purchase of marketable securities                              -                   -                  78,658
Purchase of equipment                                          -                   -                (50,000)
Increase in organization costs                                 -            (10,291)                (40,761)
                                                               -                   -                   (936)
                                               ------------------  ------------------  ----------------------

Net cash (used) by investing activities                   13,238            (10,291)               (290,534)
                                               ------------------  ------------------  ----------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock for
cash
Loans from related parties                                     -                   -               1,009,344
                                                          95,590                   -                 238,590
                                               ------------------  ------------------  ----------------------

Net cash provided from financing activities
                                                          95,590                   -               1,247,934
                                               ------------------  ------------------  ----------------------

NET INCREASE IN CASH                                     (2,354)            (93,972)                  10,310
Cash, beginning                                           12,664             377,089                       -
                                               ------------------  ------------------  ----------------------

Cash, ending                                            $ 10,310           $ 283,117                $ 10,310
                                               ==================  ==================  ======================
</TABLE>

See (Note 8) for supplemental disclosures.


                                       5
<PAGE>

1.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BUSINESS ACTIVITY

Business activity

The Company,  a Delaware  corporation  was  incorporated on May 17, 1989, and is
currently in the development  stage.  The Company intends to acquire and develop
high technology  software firms,  and to engage in the sourcing and marketing of
furniture and accessories to the hospitality and time share market..

In April 1999 the Company changed its name from Commerce Centers  Corporation to
Skreem.com  Corporation  and  approved  a  reverse  stock  split of 3 shares  of
outstanding  stock for 5 shares.  The report has been  prepared  as if the stock
split had occurred at inception.

In January  2001 the Company  changed its name from  Skreem.com  Corporation  to
Waterford Sterling Corporation.

Accounting method

The Company's  financial  statements  are prepared  using the accrual  method of
accounting.

Principles of consolidation

The  consolidated  financial  statements  include  the  accounts  of  Skreem.com
Corporation and Waterford Florida, Inc., both Nevada corporations.  All material
intercompany transactions have been eliminated.

Computer software costs

The  Company  expenses  research  and  development  costs  related  to  software
development  that  has  not  reached   technological   feasibility  and  started
production  for sale.  Thereafter  costs are  capitalized  and amortized  over a
maximum of five years or expected life of the product, whichever is less.

Income (loss) per share

The  computation  of income  (loss)  per  share of common  stock is based on the
weighted average number of shares outstanding, after the stock split.

Statement of cash flows

The Company  considers  all highly  liquid  debt  instruments  purchased  with a
maturity  of three  months or less to be cash  equivalents  for  purposes of the
statement of cash flows.

Financial instruments

The Company estimates that the fair value of all financial  instruments at March
31, 2001 do not differ  materially  from the  aggregate  carrying  values of its
financial instruments recorded in the accompanying balance sheets.


                                       6
<PAGE>

Dividend policy

The Company has not yet adopted a policy regarding payment of dividends.

Estimates and assumptions

Management uses estimates and assumptions in preparing  financial  statements in
accordance with generally accepted  accounting  principles.  Those estimates and
assumptions  affect the  reported  amounts of the  assets and  liabilities,  the
disclosure of contingent  assets and liabilities,  and the reported revenues and
expenses.  Actual  results  could vary from the  estimates  that were assumed in
preparing these financial statements.

Marketable securities:

Certain  equity  securities  are  classified as available for sale as defined by
SFAS 115. In accordance with that Statement, they are reported at aggregate fair
value with unrealized  gains and losses excluded from earnings and reported as a
separate component of stockholders' equity.

2.   INCOME TAXES

The Company complies with Statement of Financial  Accounting  Standards No. 109,
Accounting  for Income Taxes.  At March 31, 2001 the Company had a net operating
loss  ("NOL")   carry   forward  for  United   States  income  tax  purposes  of
approximately  $918,140. The NOL carryforward expires in increments beginning in
2004. The Company's  ability to utilize its net NOL  carryforward  is subject to
the   realization  of  taxable  income  in  future  years,   and  under  certain
circumstances,  the Tax Reform Act of 1986 restricts a corporation's  use of its
NOL carryforward.  The Company believes that there is at least a 50% chance that
the carryforward  will expire unused,  therefore,  any tax benefit from the loss
carryforward has been fully offset by a valuation reserve.

3.   ACQUISITION OF SUBSIDIARIES

In April  1999 the  Company,  Skreem.com  Corporation,  a  Delaware  corporation
("SCD")  acquired all of the  outstanding  stock of  Skreem.com  Corporation,  a
Nevada  corporation  ("SCN")  through a stock for  stock  exchange  in which the
stockholders of SCN received 9,600,000 post stock split common shares of the SCD
in exchange for all of the stock of the SCN. Skreem.com  Corporation ("SCN") was
incorporated  in Nevada on January 29, 1999 for the purpose of  developing  high
technology software.

For reporting  purposes,  the  acquisition  is treated as an  acquisition of the
Company   ("SCD")  by  Skreem.com   Corporation  of  Nevada   ("SCN")   (reverse
acquisition)  and a  recapitalization  of  SCN  with  its  historical  financial
statements being combined with the Company's.  No proforma  statements have been
included since the acquisition is considered to be a reverse acquisition.

On January 31,  2001,  the  Company  executed  and  Exchange  Agreement  for the
acquisition of all of the issued and  outstanding  shares of Waterford  Florida,
Inc. in exchange for 7,000,000  share of the Company's  common stock.  Waterford
Florida,  Inc. is currently  engaged in the sourcing and  marketing of furniture
and accessories to the hospitality and time share market,  however,  at the date
of acquisition it had not commenced this activity.

                                       7
<PAGE>

4.   PREPAID EXPENSES

The Company leases office space under a noncancellable operating lease agreement
effective  January 1, 2001 which  expires  December  31,  2002.  The Company has
prepaid  the  rent  for  the  two  years  specified  in  the  lease   agreement.
Consideration  for the prepayment was based on the present value of 24 months at
$5,000 per month,  discounted  at 8% or  $110,553.  The Company has also prepaid
$60,000 to its legal  counsel,  which  represents  an  estimate  of  anticipated
expenses for one year. Prepaid expenses at March 31, 2001 are as follows:

                      Prepaid rent                       $ 97,678
                      Prepaid legal                        60,000
                                                          -------
                                                         $157,678
                                                          =======
                      Current                            $114,142
                      Non current                          43,536
                                                          -------
                                                         $157,678
                                                          =======

5.   MARKETABLE SECURITIES

The cost and estimated  fair values of  marketable  securities at March 31, 2001
are as follows:

                                       Gross
                                     Unrealized               Fair
                    Cost           Gains/ (Losses)            Value
                  ------------    ----------------           ---------

                   $ 19,500          $       -                $19,500

The Company owned 650, 000 shares of Grand Slam  Treasures with an original cost
of $650,000  based on the market value of the stock at the date of  acquisition.
During the period ended March 31, 2001 Grand Slam Treasures changed its name and
adopted a reverse stock split of 100 to 1 for its common shares. The approximate
market  value of this  security  at March  31,  2001 was  $19,500.  The  Company
considered this change in value to be of a non-temporary  nature and accordingly
recorded a loss of $630,500 during the period,  thereby  establishing a new cost
basis of $19,500.

Proceeds from the sale of securities  available for sale totaled $13,238 for the
three  months  ended  March 31,  2001,  on which  gross  losses of $36,762  were
realized.

6.   RELATED PARTY TRANSACTIONS

During  February 1998,  the Company issued  1,585,258 post stock split shares to
five major  stockholders  and two persons who were both officers and  directors.
The  consideration  for the issuance was  assumption  of the  Company's  accrued
liabilities in the amount of $21,920 by the above  mentioned  shareholders,  and
the  agreement  by them to fund  future  Company  expenditures  in the amount of
$4,500.

The shares issued pursuant to the  acquisition  agreement as described in note 3
were  issued  to four  individuals  who  collectively  represent  a  controlling
interest of the Company.

During May 2000,  the Company  borrowed  $50,000 from its  President  payable on
demand at 8%. On September  26, 2000,  the Company  issued  75,000 shares of its
common stock in settlement of the $50,000 note including accrued interest.

                                       8
<PAGE>

The Company has borrowed additional funds from related parties payable on demand
and bearing interest at 10% as follows at March 31, 2001:

              Notes  payable -  President of the Company              $125,980
              Notes payable - Market Management, a company
              in  which  the  President  has an interest                60,360
              Accrued interest                                           3,016
                                                                       -------
                                                                      $189,356
                                                                       =======
7.   GOING CONCERN

The accompany financial  statements have been prepared assuming that the Company
will continue as a going concern. The Company has suffered recurring losses from
operations from its inception. Continuation of the Company as a going concern is
dependent  upon  obtaining  additional  working  capital for any future  planned
activity  and  management  of the Company will be required to develop a strategy
which will accomplish this objective. There can be no assurance that the Company
can be successful in this effort.

8.   SUPPLEMENTAL CASH FLOW DISCLOSURES

<TABLE>

                                                                             Inception to
                                                 March 31,     March 31,      March 31,
                                                  2001           2000          2001
                                               ------------   ----------   --------------
<S>                                            <C>            <C>           <C>

Non-cash operating and financing activities:
Non-cash sales                                   $     -       $     -        $650,000
                                                 ========       ========     ==========
Other non-cash operating expenses                $     -       $     -        $ 89,448
                                                 ========       ========     ==========
Issuance of common stock for expenses            $263,082      $     -        $443,348
                                                 ========       ========     ==========
Issuance of common stock for note payable        $      -      $     -       $  50,000
                                                 ========       ========     ==========
</TABLE>

9.   COMMITMENTS

The Company leases office space under a noncancellable operating lease agreement
effective  January  1, 2001 which  expires  December  31,  2002.  Minimum  lease
payments  of $60,000  per year for 2001 and 2002 are  required.  The Company has
prepaid this obligation (refer to note 4).

                                       9
<PAGE>

ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

The Company,  a Delaware  corporation  was  incorporated on May 17, 1989, and is
currently in the development  stage.  The Company intends to acquire and develop
high technology  software firms,  and to engage in the sourcing and marketing of
furniture and accessories to the hospitality and time share market.

In April 1999, the Company changed its name from Commerce Centers Corporation to
Skreem.com  Corporation  and  approved  a  reverse  stock  split of 3 shares  of
outstanding  stock for 5 shares.  The report has been  prepared  as if the stock
split had occurred at inception.

In January 2001,  the Company  changed its name from  Skreem.com  Corporation to
Waterford Sterling Corporation

MATERIAL CHANGES IN RESULTS OF OPERATIONS

Three Months Ended March 31

         Revenues for the three months ended March 31, 2001  increased by 63,080
or 6.664% to $72,545 from $9,465 for the three months ended March 31, 2000. This
increase in revenues resulted from the sale of furniture in the current quarter,
a business recently acquired by the Company.  This increase was partially offset
by a decrease in interest income because of lower invested balances.

         With the  acquisition  of Waterford  Florida,  Inc.,  the Company began
marketing and distributing furniture to the leisure industry.  Cost of furniture
sold for the three months ended March 31, 2001 totaled $58,244 producing a gross
profit of $12,149 and a gross profit margin of 17.26%.

         General and administrative expenses increased by $283,030 or 362.49% to
$361,110  for the three  months  ended  March  31,  2001  from  $78,080  for the
corresponding  period  of the  prior  year.  This  increase  resulted  from  the
expenditures  made by the  Company  in the  development  of its  newly  acquired
furniture business.

         For the  three  months  ended  March 31,  2001,  the  Company  incurred
interest  expense  of  $2,250  on  notes  payable  to  the  Company's  principal
shareholder  and to a related  party  corporation.  The  Company had no interest
expense for the corresponding period of the prior year.

         Depreciation and amortization expense increased by $834 or 56.2% $2,319
for the three  months  ended March 31,  2001 from  $1,485 for the  corresponding
period of the prior year. The increase in depreciation and amortization  expense
resulted from the increased investment in equipment and software development.

         For the three months ended March 31, 2001, the Company  incurred a loss
on the sale of  investments  of $36,762 from its sale of 36,762 from the sale of
Intermost Corporation  securities.  There was no loss on the sale of investments
for the corresponding period of the prior year.

         As a result of the  foregoing,  the Company's net operating loss before
extraordinary  items  increased  by $318,040 or 453.7% to $388,140 for the three
months  ended March 31, 2001 from  $70,100 for the  corresponding  period of the
prior year.


                                       10
<PAGE>

         For the three months ended March 31, 2001 the Company also  incurred an
extraordinary  loss of $630,500  from a decline in the value of its  holdings in
Grand Slam Treasures, Inc.

         For the three months ended March 31,  2001,  the Company also  reported
other  comprehensive  income of $200,000 from  unrealized  gain on available for
sale  securities.  For the three months ended March 31, 2000, the Company had no
extra ordinary gains or losses and no other comprehensive income.

         As  a  result  of  the  foregoing,  the  Company's  comprehensive  loss
increased to $818,640 for the three months ended March 31, 2001 from $70,100 for
the corresponding period of the prior year.

CHANGES IN FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

         For the past twelve months, the Company has funded its operating losses
and capital  requirements  through the sale of  securities  in its portfolio and
loss from related parties.  As of March 31, 2001, the Company had a cash balance
of $10,310 and working  capital  deficit of $93,661.  This compares with cash of
$283,117  and working  capital of $509,841 for the  corresponding  period of the
prior year.

         Net cash  used in  operating  activities  increased  to  $111,182  from
$83,681 used in  operations  for the three months ended March 31, 2001 and 2000,
respectively.  The increase in cash used in operations resulted from an increase
in the net  operating  loss  which was  partially  offset by  changes in current
accounts,  non-cash losses from a decline in portfolio values and expenses which
were paid with common stock.

         Cash flows from  investing  activities for the three months ended March
31,  2001  increased  to $13,238  from  $10,291  each  being  used in  investing
activities  for the  corresponding  period  of the  prior  year.  This  increase
resulted from the sale of securities and the absence of equipment purchases.

         Net cash provided by financing  activities increased to $95,590 from $0
for the three months ended March 31, 2001 and 2000, respectively.  This increase
resulted  from loans from  related  parties of any sale of shares in the current
period.

         The Company has experienced significant operating losses throughout its
history, and will acquire substantial funds for the development of its business.
Therefore, the Company's ability to survive is dependent on its ability to raise
capital through the issuance of stock or borrowing of additional funds.  Without
the success of one of these options,  the Company will not have  sufficient cash
to satisfy its working capital and investment  requirements  for the next twelve
months.

                           PART II - OTHER INFORMATION

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

     a.   Exhibits

          None

     b.   Reports on Form 8-K

     1.   February 5, 2001 - reporting  the  acquisition  of Waterford  Florida,
          Inc., the corporate name change and the new trading symbol.


                                       11
<PAGE>

                                   SIGNATURES

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


                                          WATERFORD STERLING CORPORATION

                                           /s/ Jacob Nguyen
                                          -------------------------------
                                          Jacob Nguyen, Chief Executive Officer


                                           /s/ Mike Reynolds
                                          -------------------------------
                                          Mike Reynolds, Chief Financial Officer
June 12, 2001