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, 2002

                                       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, 2002, 20,887,815 shares of the issuer's Common Stock,
$.01 par value, outstanding.



<PAGE>

                             SKREEM.COM CORPORATION

                                      INDEX

PART I -  FINANCIAL INFORMATION

  Item 1.  Financial Statements

           Balance Sheet as of June 30, 2002..............................     3

           Statements of Operations for the Three Months and Six Months
           Ended June 30, 2002 and 2001 and from Inception to
           June 30, 2002..................................................     4

           Statements of Cash Flows for the Six Months Ended June
           31, 2002 and 2001..............................................     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, 2002


                                     ASSETS

CURRENT ASSETS:
  Prepaid expense (Note 4)                                        $    29,312
                                                                  ------------
   Total current assets                                                29,312

EQUIPMENT:
  Office equipment                                                     40,761
  Accumulated depreciation                                            (23,309)
                                                                  ------------
                                                                       17,452
OTHER ASSETS:
  Business acquisition costs (Note 9)                                  21,700
  Organization costs net of amortization                                  297
                                                                  ------------
                                                                  $    68,761
                                                                  ============
                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Accrued expenses                                                $    24,386
  Account payable related party (Note 5)                              127,725
  Notes payable - related parties (Note 5)                            480,660
                                                                  ------------
   Total current liabilities                                          632,771

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                                               (2,125,937)
                                                                  ------------
   Total stockholders' deficit                                       (564,010)
                                                                  ------------
                                                                  $    68,761
                                                                  ============

                 See accompanying notes to financial statements

<PAGE>

                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                 For The Six Months Ended June 30, 2002 and 2001
                May 17, 1989 (Date of Inception) To June 30, 2002
<TABLE>
                                                                              Inception

                                                                                To
                                              June 30,      June 30,          June 30,
                                                2002          2001             2002
                                              --------      --------        ----------
<S>                                           <C>          <C>              <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                   $(165,604)    $(1,144,054)    $(2,125,937)
  Adjustment to reconcile net loss to
  net cash used by operating activities:
  Loss on sale of investments                        -           9,824           9,824
  Depreciation and amortization                  3,258           4,731          23,949
  Bad debt                                           -               -          12,074
  Decrease in prepaid expenses                  28,167          26,008         141,241
  Increase (decrease) in accounts payable        9,963         (41,876)         24,387
  Revenue in non-cash transaction                    -               -        (650,000)
  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                 (124,216)       (251,785)     (1,401,166)
                                             ----------      ----------     -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Sale of securities available for sale              -          59,676          59,676
  Issuance of notes receivable                       -               -        (290,733)
  Collections on notes receivable                    -               -          78,658
  Purchase of marketable securities                  -               -         (50,000)
  Purchase of equipment                              -               -         (40,761)
  Increase in organization costs                     -               -            (936)
  Increase in business acquisition costs       (21,700)              -         (21,700)
                                             ----------      ----------     -----------
Net cash provided (used)
  by investing activities                      (21,700)         59,676        (265,796)
                                             ----------      ----------     -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from issuance of common
   stock for cash                                    -               -       1,009,344
  Loans from related parties                   127,725         185,210         657,618
                                            -----------      ----------     -----------
Net cash provided from
  financing activities                         127,725         185,210       1,666,962
                                            -----------      ----------     -----------
NET INCREASE IN CASH                           (18,191)         (6,899)              -
Cash, beginning                                 18,191          12,664               -
                                            -----------      ----------     -----------
Cash, ending                                $        -       $   5,765       $       -
                                            ===========      ==========     ===========
</TABLE>

See (Note 8) for supplemental disclosures.

                 See accompanying notes to financial statements

<PAGE>


                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                      Consolidated Statements Of Operations
                For The Three Months Ended June 30, 2002 and 2001
                 For The Six Months Ended June 30, 2002 and 2001
              And May 17, 1989 (Date Of Inception) To June 30, 2002
<TABLE>


                                                                                                  Inception
                                             Three Months Ended         Six Months Ended             To
                                          June 30,         June 30,   June 30,      June 30,       June 30,
                                           2002             2001       2002          2001           2002
                                         ---------        ---------  ----------    ----------    ------------
<S>                                      <C>              <C>        <C>           <C>           <C>

REVENUE:
 Sales of software                      $        -        $     -    $      -     $      -        $ 652,458
 Sales of furniture                                             -       6,756            -     77,14977,370
 Interest income                               776          1,871       1,833        4,024           60,058
                                         ----------       ---------  ---------     ---------   -------------
                                               776          8,627       1,833       81,173          789,886
COST AND EXPENSES:
 Cost of furniture sold                          -         11,828           -       70,072           70,072
 Selling, general and
   administrative                           48,794        140,911     143,594      502,022        2,132,228
 Interest                                   10,971          5,920      20,584        8,170           45,923
 Depreciation and
  amortization                               1,676          2,319       3,259        4,637           27,275
 Loss (gain) on sale of
 investments                                     -        (26,938)          -        9,825            9,825
                                        -----------      ----------  ----------    ---------    ------------
  Total expenses                            61,441        134,040     167,437      594,726        2,285,323
                                        -----------      ----------  ----------    ---------    ------------
LOSS BEFORE
 EXTRAORDINARY ITEM                        (60,665)       (125,413)  (165,604)    (513,553)      (1,495.427)
                                        -----------      ----------  ----------   ----------    ------------

EXTRAORDINARY ITEM
 Non-temporary loss
 on securities                                  -                -          -     (630,500)        (630,500)
                                        -----------       ---------  ----------   ----------    ------------
NET LOSS                                  (60,665)        (125,413)  (165,604)  (1,144,053)      (2,125,937)

OTHER COMPREHENSIVE
 INCOME
   Unrealized gain on available
     for sale securities                        -               -           -      200,000                -
                                        -----------       ---------  ----------   ----------    ------------
COMPREHENSIVE LOSS                       $(60,665)      $(125,413)  $(165,604)   $(994,053)     $(2,125,937)
                                        ===========       =========  ==========   ==========    ============

Loss per common share before
 extraordinary item                      $   (.00)      $   (.01)   $    (.01)     $  (.03)
Extraordinary loss per
 common share                                   -              -            -         (.03)
                                        -----------       ---------  ----------   ----------
Net less per common share                $   (.00)      $   (.01)   $    (.01)     $   (06)
                                        ===========       =========  ==========   ==========
Weighted average
 shares outstanding                    20,887,815     20,887,815   20,887,815   19,688,920
                                       ============   ============= =========== ============
</TABLE>


                 See accompanying notes to financial statements
<PAGE>

                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  June 30, 2002

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 sought 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.  Currently
the Company is exploring other business possibilities.

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, 2002 do not differ  materially  from the  aggregate  carrying  values of its
financial instruments recorded in the accompanying balance sheets.

<PAGE>

                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  June 30, 2002

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, 2002 the Company had a net operating
loss  ("NOL")   carry   forward  for  United   States  income  tax  purposes  of
approximately  $1,469,603.  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.

<PAGE>

                         WATERFORD STERLING CORPORATION
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  June 30, 2002

3.   PREPAID EXPENSE

The Company leases office space under a noncancellable operating lease agreement
effective  January 1, 2001 which expires  December 31, 2002. The Company 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. Prepaid rent expense at June 30, 2002 was $29,312.

5.   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  resulting in 8%
demand notes secured by the Company's assets and treasury securities,  and other
unsecured amounts as follows at June 30, 2002:

         Notes payable - Stockholder of the Company              $150,955
         Notes payable - Market Management International,
         a company is which a major stockholder has
         an interest.                                             329,705
                                                                 ---------
                                                                 $480,660
         Unsecured amounts borrowed form Market
         Management International                                $127,725
                                                                 =========

6. GOING CONCERN

The Company has suffered  recurring  operating  losses from its  inception.  The
Company intends to acquire interests in various business opportunities which, in
the opinion of management, will provide a profit for the Company, however, there
is  insufficient  working capital to service its debt and for any future planned
activity.  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.

<PAGE>

7.       SUPPLEMENTAL CASH FLOW DISCLOSURES
<TABLE>

                                                                         Inception to
                                                 June 30,    June 30,     June 30,
                                                   2002       2001          2002
                                                 --------    -------     ------------
<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>

8.       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  for 2002 are  required.  The  Company  has  prepaid  this
obligation (refer to note 4).

9.       BUSINESS ACQUISITION COSTS

The Company as incurred direct and incremental  costs  associated with a pending
merger of $21,700.

<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

MATERIAL CHANGES IN RESULTS OF OPERATIONS

Three  Months  Ended June 30, 2002  Compared to the Three  Months Ended June 30,
2001

     Revenues for the three  months  ended June 30, 2002  decreased to $776 from
$8,627 for the three  months  ended June 30,  2001.  This  decrease  in revenues
resulted from the absence of furniture sales in the current quarter  compared to
$6,756 of furniture sales during the corresponding quarter of the prior year and
a reduction in interest income of $1,095.

     Cost of furniture sold  decreased to $0 from $11,828 for the  corresponding
period of the prior year as the  Company is no longer  engaged in the  furniture
business.

     Selling,  general  and  administrative  expenses  decreased  by  $92,117 to
$48,794  for the  three  months  ended  June  30,  2002  from  $140,911  for the
corresponding  period of the prior year. This decrease principally resulted from
decreases in staff payroll.

     Interest expense  increased by $5,051 to $10,971 for the three months ended
June 30, 2002 from $5,920 for the  corresponding  period of the prior year.  The
increase in interest expense resulted from increased borrowings by the Company.

     Depreciation  and  amortization  expense  decreased to $1,676 for the three
months ended June 30, 2002 from $2,319 for the corresponding period of the prior
year. The decrease in  depreciation  and  amortization  expense  resulted from a
reduction in depreciable assets.

     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 current year.

     As a result of the foregoing, the Company's net operating loss decreased by
$64,748 to $60,665 for the three  months  ended June 30, 2002 from  $125,413 for
the corresponding period of the prior year.

Six Months Ended June 30, 2002 Compared to the Six Months Ended June 30, 2001

     Revenues  for the six months  ended June 30, 2002  decreased to $1,833 from
$81,173  for the six months  ended June 30,  2001.  This  decrease  in  revenues
resulted from the absence of sales of furniture in the current  period  compared
to $77,149 in the prior year and a reduction in the interest income of $2,191.

     Cost of furniture sold  decreased to $0 from $70,072 for the  corresponding
period of the prior year as the  Company is no longer  engaged in the  furniture
business.

     Selling,  general  and  administrative  expenses  decreased  by $358,428 to
$143,594  for  the  six  months  ended  June  30,  2001from   $502,022  for  the
corresponding  period of the prior year. This decrease resulted from exiting the
furniture business and the corresponding cost of furniture samples, shipping and
costs of Hong Kong operations as well as reduced staff levels.

     Interest  expense  increased by $12,414 to $20,584 for the six months ended
June 30, 2002 from $8,170 for the  corresponding  period of the prior year.  The
increase in interest expense results from increased borrowings by the Company.

<PAGE>

     Depreciation and amortization expense decreased by $1,378 to $3,259 for the
six months ended June 30, 2002 from $4,637 for the  corresponding  period of the
prior year. The decrease in depreciation and amortization  expense resulted from
a decrease in depreciable assets.

     For the six  months  ended June 30,  2001,  the  Company  had a net loss of
$9,825 from the sale of marketable  securities.  The Company had no gain or loss
from the sale of marketable securities in the current 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 or  comprehensive
income items for the current year.

     As a result of the  foregoing,  the Company's net operating  loss including
extraordinary  items  decreased by $828,449 to $165,604 for the six months ended
June 30, 2002 from $994,053 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 loans from its principal  shareholder.  As of June
30, 2002, the Company had no cash and a deficit in working  capital of $603,459.
This compares with cash of $5,765 and a working  capital deficit of $182,938 for
the corresponding period of the prior year.

     Net cash used in  operating  activities  decreased  to $124,216 for the six
months ended June 30, 2001 from $251,785 for the six months ended June 30, 2001.
The  decrease  in cash used in  operations  resulted  from a decrease 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
changes in the Company's current accounts.

     Cash flows used in investing  activities  for the six months ended June 30,
2001  increased to $21,700 from net cash provided from  investing  activities of
$59,676  for the  corresponding  period  of the prior  year.  This  increase  is
attributable  to the absense of the sale of securities in the current period and
an increase in business acquisition costs.

     Net cash  provided by  financing  activities  decreased  to  $127,725  from
$185,210 for the six months ended June 30, 2002 and 2001, respectively. For each
six month  period the  Company  received a loan of $185,210  from its  principal
shareholder.

     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


<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, 2002