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 June 30, 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 32789
                -------------------------------------------------
                    (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 August 7, 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 June 30, 2001............................    3

           Statements of Operations for the Three Months
           Ended June 30, 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>


                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                           CONSOLIDATED BALANCE SHEET
                                  June 30, 2001


                                     ASSETS

CURRENT ASSETS:
  Cash                                                              $    5,765
  Prepaid expenses (Note 4)                                            115,233
                                                                      --------
   Total current assets                                                120,998

EQUIPMENT:
  Office equipment                                                      40,761
  Accumulated depreciation                                             (15,507)
                                                                      --------
                                                                        25,254
OTHER ASSETS:
  Prepaid expenses - long term (Note 4)                                 29,312
  Organization costs net of amortization                                   484
                                                                      --------
                                                                    $  176,048
                                                                      ========
                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Accrued expenses                                                      24,960
  Notes payable - related parties (Note 6)                             278,976
                                                                      --------
   Total current liabilities                                           303,936

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                                                (1,689,815)
                                                                     ---------
   Total stockholders' deficit                                        (127,888)
                                                                     ---------
                                                                    $  176,048
                                                                     =========

                 See accompanying notes to financial statements
                                       3
<PAGE>



                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                      Consolidated Statements Of Operations
                For The Three Months Ended June 30, 2001 and 2000
                 For The Six Months Ended June 30, 2001 and 2000
              And May 17, 1989 (Date Of Inception) To June 30, 2001

<TABLE>

                                                                                                               Inception
                                               Three Months Ended                 Six Months Ended                To
                                             June 30,       June 30,           June 30,       June 30,          June 30,
                                              2001           2000               2001           2000              2001
                                           ----------     --------------      ----------   --------------     ------------
<S>                                        <C>            <C>                 <C>          <C>                <C>

REVENUE:
 Sales of software                        $        -        $   45,000        $       -        $   45,000     $    652,458
 Sales of furniture                            6,756              -              77,149             -               77,149
 Interest income                               1,871             7,594            4,024            17,059           54,968
                                              ------         ---------          -------          --------           -------
                                               8,627            52,594           81,173            62,059          784,575
COST AND EXPENSES:
 Cost of furniture sold                       11,828             -               70,072           -                 70,072
 Selling, general and
   administrative                            140,911           176,269          502,022           254,349        1,730,848
 Interest                                      5,920               581            8,170               581           11,767
 Depreciation and
  amortization                                 2,319             1,438            4,637             2,923           21,379
 Loss (gain) on sale of
 investments                                 (26,938)            -                9,825             -                9,824
                                             -------          --------          -------           -------        ---------
  Total expenses                             134,040           178,288          594,726           257,853        1,843,890
                                             -------          --------          -------           -------        ---------

LOSS BEFORE
 EXTRAORDINARY ITEM                         (125,413)         (125,694)        (513,553)         (195,794)      (1,059,315)
                                            ---------         ---------        ---------         ---------      -----------

EXTRAORDINARY ITEM
 Non-temporary loss
 on securities                               -                 -               (630,500)                -         (630,500)
                                            ---------         ---------        ---------         ---------       ----------
NET LOSS                                    (125,413)         (125,694)      (1,144,053)         (195,794)      (1,689,815)

OTHER COMPREHENSIVE
 INCOME
   Unrealized gain on available
     for sale securities                    -                  -                200,000                -                 -
                                           ----------        ----------      ----------         ----------      -----------
COMPREHENSIVE LOSS                         $(125,413)        $(125,694)      $ (944,053)        $(195,794)      $(1,689,815
                                           ==========        ==========      ===========        ==========      ===========

Loss per common share before
 extraordinary item                        $    (.01)        $    (.01)      $    (.03)         $    (.01)
Extraordinary loss per
 common share                                      -                 -            (.03)                 -
                                           ---------         ---------       ----------          ---------
Net less per common share                  $    (.01)        $    (.01)      $    (.06)         $     (01)
                                           =========         ---------       ----------          ---------
Weighted average
 shares outstanding                       20,887,815        13,545,315      19,688,920         13,545,315
                                          ==========        ==========      ===========        ===========
</TABLE>


                 See accompanying notes to financial statements

                                       4
<PAGE>
                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                 For the Six Months Ended June 30, 2001 and 2000
               May 17, 1989 (date of inception) To June 30, 2001


<TABLE>

                                                                                Inception
                                                                                   To
                                                     June 30,     June 30,      June 30,
                                                      2001          2000          2001
                                                   ----------    ----------   -------------
<S>                                                <C>           <C>          <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                        $(1,144,054)   $(195,795)   $(1,689,815)
  Adjustment to reconcile net loss to net cash
  used by operating activities:
  Loss on sale of investments                           9,824            -          9,824
  Depreciation and amortization                         4,731        2,923         15,960
  (Increase)in accounts receivable                          -       (5,227)             -
  Bad debt                                                  -            -         12,074
  Decrease in prepaid expenses                         26,008            -         26,008
  Increase (decrease) in accounts payable             (41,876)     (11,758)        24,960
  Revenue in non-cash transaction                           -      (45,000)       (50,000)
  Nontemporary 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                        (251,785)    (254,857)    (1,087,693)
                                                     --------      --------     ---------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Sale of securities available for sale                59,676            -        59,676
  Issuance of notes receivable                              -      (40,000)     (290,733)
  Collections on notes receivable                           -       53,658        78,658
  Purchase of marketable securities                         -            -       (50,000)
  Purchase of equipment                                     -      (10,291)      (40,761)
  Increase in organization costs                            -            -          (936)
                                                     --------      --------     ---------
Net cash (used) by investing activities                59,676        3,367      (244,096)
                                                     --------      --------     ---------
CASH FLOWS FROM FINANCING ACTIVITIES:
                                                      185,210       50,000     1,337,554
                                                     --------      --------     ---------
NET INCREASE IN CASH                                  (6,899)     (201,490)        5,765
Cash, beginning                                       12,664       377,089             -
                                                     --------      --------     ---------
Cash, ending                                        $  5,765     $ 175,599     $   5,765
                                                     ========      ========     =========
See (Note 8) for supplemental disclosures.
</TABLE>




                                       5
<PAGE>


                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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 June
30, 2001 do not differ  materially  from the  aggregate  carrying  values of its
financial instruments recorded in the accompanying balance sheets.


                                       6
<PAGE>


                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BUSINESS ACTIVITY (continued)

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.

1.   INCOME TAXES

The Company complies with Statement of Financial  Accounting  Standards No. 109,
Accounting  for Income  Taxes.  At June 30, 2001 the Company had a net operating
loss  ("NOL")   carry   forward  for  United   States  income  tax  purposes  of
approximately  $1,043,000.  The NOL carryforward expires in increments beginning
in 2004.  The Company  also had a net capital loss  carryover  of  approximately
$640,000.  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.

2.   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>

3.   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 June 30, 2001 are as follows:

                      Prepaid rent                        $  84,545
                      Prepaid legal                          60,000
                                                            --------
                                                          $ 144,545

                      Current                             $ 115,233
                      Non current                            29,312
                                                           --------
                                                          $ 144,545

4.   MARKETABLE SECURITIES

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,  thereby  establishing a new cost basis of $19,500.
The  Company  sold the shares  during May and June for  $46,438  resulting  in a
realized gain of $26,938.

Proceeds from the sale of securities  available for sale totaled $59,676 for the
six months ended June 30, 2001, on which gross losses of $9,825 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.

The Company has borrowed additional funds from related parties payable on demand
and bearing  interest at 10% resulting in notes payable and accrued  interest at
June 30, 2001 as follows:

              Notes payable - Stockholder of the Company      $  119,680
              Notes payable - Market Management, a company
               in which a major stockholder has an interest      150,360



                                       8
<PAGE>

                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

     Accrued interest                                          8,936
                                                             --------
                                                            $278,976

5.   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.

6.   SUPPLEMENTAL CASH FLOW DISCLOSURES
<TABLE>

                                                                                 Inception to
                                               June 30,            June 30,       June 30,
                                                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>


7.   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>

                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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

MATERIAL CHANGES IN RESULTS OF OPERATIONS

Three  Months  Ended June 30, 2001  Compared to the Three  Months Ended June 30,
2000

     Revenues for the three months ended June 30, 2000  decreased to $8,527 from
$52,594 for the three  months  ended June 30,  2000.  This  decrease in revenues
resulted from the absence of software sales in the current  quarter  compared to
$45,000 of software sales during the corresponding quarter of the prior year and
a reduction in interest income of $5,723,  which were partially  offset by a new
source of revenues, furniture sales, which totaled $6,756.

     General and  administrative  expenses  decreased by $35,358 to $140,911 for
the three months ended June 30, 2001 from $176,269 for the corresponding  period
of the prior year. This decrease resulted from decrease in staff payroll.

     Interest  expense  increased by $5,339 to $5,920 for the three months ended
June 30,  2001 from $581 for the  corresponding  period of the prior  year.  The
increase in interest expense resulted from increased borrowings by the Company.

     Depreciation  and  amortization  expense  increased to $2,319 for the three
months ended June 30, 2001 from $1,438 for the corresponding period of the prior
year.  The increase in  depreciation  and  amortization  expense  resulted  from
increased depreciation on office equipment.

     For the three months ended June 30, 2001,  the Company had a net of $26,938
on the sale of marketable  securities.  The Company had no gain or loss from the
sale of securities in the corresponding period of the prior year.

     As a result of the foregoing, the Company's net operating loss decreased by
$281 to $125,413 for the three months ended June 30, 2001 from  $125,694 for the
corresponding period of the prior year.

Six Months Ended June 30, 2001 Compared to the Six Months Ended June 30, 2000

     Revenues for the six months  ended June 30, 2001  increased to $81,173 from
$62,059  for the six months  ended June 30,  2000.  This  increase  in  revenues
resulted  from the initial  sales of  furnitures  of $77,149 which was partially
offset by a $45,000  reduction in the sales of software and a $13,035  reduction
in the interest income.

     General and  administrative  expenses increased by $247,673 to $502,022 for
the six months ended June 30, 2001from $254,349 for the corresponding  period of
the prior year. This increase resulted from entering into the furniture business
and the corresponding cost of furniture samples, shipping and costs of Hong Kong
operations.

     Interest  expense  increased  by $7,589 to $8,170 for the six months  ended
June 30,  2001 from $581 for the  corresponding  period of the prior  year.  The
increase in interest expense results from increased borrowings by the Company.

     Depreciation and amortization expense decreased by $1,714 to $4,637 for the
six months ended June 30, 2001 from $2,923 for the  corresponding  period of the
prior year. The decrease in depreciation and amortization  expense resulted from
decrease in software r&d and equipment purchases.

                                       10
<PAGE>

     For the six  months  ended June 30,  2001,  the  Company  had a net loss of
$9,825 for the sale of  marketable  securities.  The Company had no gain or loss
from the sale of marketable  securities in the corresponding period of the prior
year. In addition,  for the six months ended June 30, 2001, the Company recorded
an extraordinary loss on the write-down of its Grand Slam Treasures, Inc. shares
of $630,500 and had other comprehensive  income of $200,000 from unrealized gain
on securities  available  for sale.  There were no such  extraordinary  items on
comprehensive income items 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 $317,759 to $513,553 for the six months ended
June 30, 2001 from $195,794 for the  corresponding  period of the prior year and
to a comprehensive loss of $944,054 for the six months ended June 30, 2001.

CHANGES IN FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

     For the past twelve months, the Company has funded its operating losses and
capital  requirements  through internally generated funds, the sale of stock and
loans from its principal  shareholders.  As of June 30, 2001,  the Company had a
cash  balance  of $5,765 and a deficit in  working  capital  of  $182,938.  This
compares  with  cash  of  $175,599  and  working  capital  of  $340,585  for the
corresponding period of the prior year.

     Net cash used in  operating  activities  decreased  to $251,703 for the six
months ended June 30, 2001 from $254,837 for the six months ended June 30, 2000.
The slight decrease in cash used in operations  resulted from an increase in the
net  operating  loss which was offset by expenses  which were paid in shares,  a
non-cash loss resulted from a write-down of the Company's portfolio and moderate
change in the Company's current accounts.

     Cash flows used in investing  activities  for the six months ended June 30,
2001 increased to $59,676 from $3,369 for the corresponding  period of the prior
year.  This increase is entirely  attributable  to the sale of securities in the
current period.

     Net cash provided by financing activities increased to $185,210 from $0 for
the six months  ended June 30, 2001 and 2000,  respectively.  For the six months
ended June 30, 2001, the Company  received a loan of $185,210 from its principal
shareholder. There were no loans in the corresponding period of this prior year.

     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

          None



                                       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
                                            President Secretary / Treasurer



August 9, 2001