<PAGE>   1


                                   FORM 10-QSB


                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


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

 For the quarterly period ended                            Commission file
       September 30, 1999                                   Number 0-26150


                             MILEMARKER INTERNATIONAL, INC.
--------------------------------------------------------------------------------
      (Exact Name Of Small Business Registrant As Specified In Its Charter)


      NEW YORK                                                 11-2128469
  ---------------                                            --------------
  (State or other                                            (IRS Employer
  jurisdiction of                                            Identification
  incorporation)                                                 Number)



               1450 S.W. 13TH COURT, POMPANO BEACH, FLORIDA 33069
--------------------------------------------------------------------------------
                    (Address of principal executive offices)


                  Registrant's Telephone Number: (954) 782-0604


      Indicate by check mark whether the Registrant (1) has filed all documents
and reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or such shorter period that
the Registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.

 Yes [X]           No [ ]


                      APPLICABLE ONLY TO CORPORATE ISSUERS

         On September 30, 1999, the Registrant had outstanding 10,684,354 shares
of common stock, $.001 par value.

<PAGE>   2

                         MILEMARKER INTERNATIONAL, INC.
                           FORWARD-LOOKING STATEMENTS

When used in this Quarterly Report on Form 10-QSB or in future filings by the
Company (as hereinafter defined) with the Securities and Exchange Commission, in
the Company's press releases or other public or shareholder communications, or
in oral statements made with the approval of an authorized executive officer,

the words or phrases "will likely result," "are expected to," "will continue,"
"is anticipated," "plan," "estimate," "project," or similar expressions are
intended to identify "forward-looking statements." The Company wishes to caution
readers not to place undue reliance on any such forward-looking statements,
which speak as of the date made, and to advise readers that various factors,
including regional, national and international economic conditions, substantial
changes in levels of market interest rates, credit and other risks of
manufacturing, distributing or marketing activities, and competitive and
regulatory factors could affect the Company's financial performance and could
cause the Company's actual results for future periods to differ materially from
those anticipated by any forward-looking statements.

The Company does not undertake and specifically disclaims any obligation to
update any forward-looking statements to reflect the occurrence of anticipated
or unanticipated events or circumstances after the date of such statements.



                                      - 2 -



<PAGE>   3


                         MILEMARKER INTERNATIONAL, INC.

                                      INDEX

<TABLE>
<CAPTION>
                                                                             Page No.
                                                                             --------
<S>                                                                             <C>

PART I FINANCIAL INFORMATION

Item 1. Financial Statements

        Consolidated Balance Sheets, September 30, 1999 and
        December 31, 1998 .................................................      4

        Consolidated Statements of Operations, Three months ended
        September 30, 1999 and September 30, 1998 .........................      5

        Consolidated Statements of Operations, Nine months ended
        September 30, 1999 and September 30, 1998 .........................      6

        Consolidated Statements of Cash Flows, Nine months ended
        September 30, 1999 and September 30, 1998 .........................      7

        Notes to Consolidated Financial Statements ........................      8

Item 2. Management's Discussion and Analysis of Financial Condition and
              Results of Operations .......................................     9-11

PART II OTHER INFORMATION

Item 1. Legal Proceedings .................................................     11

Item 2. Changes in Securities .............................................     11

Item 3. Defaults Upon Senior Securities ...................................     11

Item 4. Submission of Matters to a Vote of Security Holders ...............     11

Item 5. Other Information .................................................     12

Item 6. Exhibits and Reports on Form 8-K ..................................     12

SIGNATURES ................................................................     13



</TABLE>

                                      - 3 -


<PAGE>   4


                  MILEMARKER INTERNATIONAL, INC. AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
                                    UNAUDITED



<TABLE>
<CAPTION>
                                                           September 30      December 31
                                                               1999             1998
                                                            -----------      -----------
<S>                                                         <C>              <C>
ASSETS

CURRENT ASSETS
  Cash                                                      $    63,283      $    62,726
  Accounts Receivable, net of allowance for doubtful
    accounts of $7,000                                        1,003,469          834,660
  Inventory                                                   1,844,803        1,885,530
  Other Receivables                                              13,293               --
  Prepaid Expenses                                               13,360           23,806
                                                            -----------      -----------
      Total Current Assets                                    2,938,208        2,806,722

PROPERTY AND EQUIPMENT, NET                                     101,293          140,456

OTHER ASSETS
   Deferred Financing Costs, net                                 99,305           73,805
   Unamortized Patent Costs, net                                  7,827           23,254
   Other                                                         40,397           36,510
                                                            -----------      -----------
      Total Other Assets                                        147,529          133,569
                                                            -----------      -----------
        Total Assets                                          3,187,030      $ 3,080,747
                                                            ===========      ===========

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES
  Notes Payable - Line of Credit                              1,426,724      $ 1,413,814
  Term Loan - Current                                            55,520          128,239
  Current Maturities of Notes Payable                                --           25,061
  Accounts Payable                                              232,643          315,674
  Accrued Liabilities                                            53,140           38,588
                                                            -----------      -----------
      Total Current Liabilities                               1,768,027        1,921,376

LONG-TERM NOTES PAYABLE
  Notes Payable - Shareholders                                   45,000           45,000
  Other Notes Payable                                                --           12,712
                                                            -----------      -----------
      Total Long-Term Notes Payable                              45,000           57,712
                                                            -----------      -----------
      Total Liabilities                                       1,813,027        1,979,088
                                                            ===========      ===========

SHAREHOLDERS' EQUITY
Common Stock, $.001 par value; 20,000,000 shares
   authorized, 10,684,354 shares issued and outstanding
   in 1999 and 1998, respectively                                10,684           10,684
Paid-in Capital                                               1,546,165        1,546,165
Accumulated Deficit                                            (182,846)        (455,190)
                                                            -----------      -----------
      Total Shareholders' Equity                              1,374,003        1,101,659

                                                            -----------      -----------
Total Liabilities & Shareholders' Equity                    $ 3,187,030      $ 3,080,747
                                                            ===========      ===========


</TABLE>

The accompanying Notes are an integral part of these financial statements.



                                      -4-
<PAGE>   5

                  MILEMARKER INTERNATIONAL, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                 THREE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998
                                    UNAUDITED



<TABLE>
<CAPTION>
                                                        1999               1998
                                                    ------------      ------------
<S>                                                 <C>               <C>
Sales                                               $  1,373,038      $    800,379
Cost of Sales                                            725,658           425,786
                                                    ------------      ------------

              Gross Profit                               647,380           374,593
                                                    ------------      ------------

Selling Expenses                                         132,259           118,443
                                                    ------------      ------------

General and Administrative Expenses
   Salaries and Wages                                    133,467           114,325
   Professional Fees                                      28,756            10,748
   Rent                                                   19,349            19,329
   Depreciation and Amortization                          20,515            38,262
   Insurance                                              11,370            13,440
   Vehicle Expenses                                       12,027             7,993
   Research & Development                                  1,853             1,244
   Other                                                  33,119            31,273
                                                    ------------      ------------
      Total General and Administrative Expenses          260,456           236,614
                                                    ------------      ------------
              Total Expenses                             392,715           355,057
                                                    ------------      ------------

Income from Operations                                   254,665            19,536

Other Expenses
       Interest Expense                                  (47,260)          (44,552)
       Other (Expense)/Income                            (15,411)          (13,795)
                                                    ------------      ------------
                Total Other Expenses                     (62,671)          (58,347)

Income/(Loss) before Provision for Income Taxes          191,994           (38,811)

Provision for Income Taxes (Benefit)                          --                --
                                                    ------------      ------------
      Net Income/(Loss)                             $    191,994      $    (38,811)
                                                    ============      ============

Per Share Data:

   Weighted Average Shares Outstanding                10,684,354        10,684,354

  Income/(Loss) per Common Share - Basic                   $0.02            $(0.00)


</TABLE>

The accompanying Notes are an integral part of these financial statements.





                                      -5-
<PAGE>   6

                  MILEMARKER INTERNATIONAL, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                  NINE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998
                                    UNAUDITED



<TABLE>
<CAPTION>
                                                            1999              1998
                                                    ------------      ------------
<S>                                                 <C>               <C>
Sales                                               $  3,482,264      $  2,664,660
Cost of Sales                                          1,920,476         1,580,355
                                                    ------------      ------------
              Gross Profit                             1,561,788         1,084,305
                                                    ------------      ------------

Selling Expenses                                         331,448           325,697
                                                    ------------      ------------

General and Administrative Expenses
   Salaries and Wages                                    380,664           268,516
   Professional Fees                                      79,553            56,565
   Rent                                                   58,046            56,488
   Depreciation and Amortization                          79,244           108,027
   Insurance                                              31,724            23,384
   Vehicle Expenses                                       27,483            30,619
   Research & Development                                  3,961             5,869
   Other                                                 112,887            89,045
                                                    ------------      ------------
      Total General and Administrative Expenses          773,562           638,513
                                                    ------------      ------------
              Total Expenses                           1,105,010           964,210
                                                    ------------      ------------

Income from Operations                                   456,778           120,095

Other Expenses
       Interest Expense                                 (139,215)         (137,443)
       Other (Expense)/Income                            (45,219)          (47,502)
                                                    ------------      ------------
                Total Other Expenses                    (184,434)         (184,945)
                                                    ------------      ------------

                                                    ------------      ------------
Income/(Loss) before Provision for Income Taxes          272,344           (64,850)

Provision for Income Taxes (Benefit)                          --                --
                                                    ------------      ------------
      Net Income/(Loss)                             $    272,344      $    (64,850)
                                                    ============      ============
Per Share Data:

   Weighted Average Shares Outstanding                10,564,354        10,564,354

  Income/(Loss) per Common Share - Basic                   $0.03            $(0.01)



</TABLE>



The accompanying Notes are an integral part of these financial statements.





                                      -6-
<PAGE>   7


                  MILEMARKER INTERNATIONAL, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                  NINE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998
                                    UNAUDITED


<TABLE>
<CAPTION>
                                                              1999           1998
                                                           ---------      ---------
<S>                                                        <C>            <C>
OPERATING ACTIVITIES

Net income/(loss)                                          $ 272,344      $ (64,850)
Adjustments to reconcile net (loss)/income to net cash
provided(used) by operating activities:
  Depreciation and amortization                               79,244        108,027
Changes in operating assets and liabilities:
(Increase) decrease in:
    Accounts receivable                                     (168,809)       346,786
    Inventories                                               40,727       (148,692)
    Prepaid expenses                                          10,446        (22,066)
    Other receivables                                        (13,293)        39,685
    Other assets                                              (3,887)       (23,125)
(Decrease) increase in:
    Accounts payable                                         (83,031)       203,223
    Accrued liabilities                                       14,552        (54,838)
                                                           ---------      ---------
Net cash provided by operating activities                    148,293        384,150

INVESTING ACTIVITIES

Capital equipment acquisitions                                    --         (6,317)
Patent costs                                                 (34,500)          (623)
                                                           ---------      ---------
Net cash used in investing activities                        (34,500)        (6,940)

FINANCING ACTIVITIES

Proceeds from sale of common stock                                --        140,000
Proceeds from (repayment of) short term borrowing             12,910       (435,827)
Deferred financing costs                                     (15,654)       (26,407)
Repayment of shareholder loans                                    --        (79,043)
Principal payments on long-term debt                        (110,492)       (45,937)
                                                           ---------      ---------
Net cash (used) by financing activities                     (113,236)      (447,214)

Increase/(decrease) in Cash                                      557        (70,004)

Cash at Beginning of Period                                   62,726        102,568
                                                           ---------      ---------
Cash at End of Period                                      $  63,283      $  32,564
                                                           =========      =========


Supplementary Disclosure of Cash Flow Information:

    Cash paid during the period for Interest               $ 139,054      $ 137,443


</TABLE>

The accompanying Notes are an integral part of these financial statements.





                                      -7-
<PAGE>   8



                         MILEMARKER INTERNATIONAL, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)



NOTE 1:   BASIS OF PRESENTATION

         The unaudited consolidated financial statements include the accounts of
MileMarker International, Inc. and its wholly-owned subsidiary, MileMarker, Inc.
(collectively "the Company"). All necessary adjustments to the financial
statements have been made, and significant inter-company accounts and
transactions have been eliminated in consolidation.

         The accompanying unaudited consolidated financial statements, which are
for interim periods, do not include all disclosures provided in the annual
consolidated financial statements. These unaudited consolidated financial
statements should be read in conjunction with the consolidated financial
statements and the footnotes thereto contained in the Annual Report on Form
10-KSB for the year ended December 31, 1998 of Mile-Marker International, Inc.,
as filed with the Securities and Exchange Commission. The summary December 31,
1998 balance sheet was derived from audited consolidated financial statements,
but does not include all disclosures required by generally accepted accounting
principles at December 31, 1998.

          In the opinion of the Company, the accompanying unaudited consolidated
financial statements contain all adjustments (which are of a normal recurring
nature) necessary for a fair presentation of the financial statements. The
results for interim periods are not necessarily indicative of results to be
expected for the complete fiscal year.

          Per share data was computed by dividing net income by the weighted
average number of shares outstanding during the period. The difference between
basic and diluted earnings per share is immaterial for the periods ended
September 30, 1999 and 1998.

NOTE 2: PROVISION FOR INCOME TAXES (BENEFIT)

          As of September 30, 1999, the Company has not provided for income
taxes due to the tax benefits of the Company's net operating loss
carry-forwards.

NOTE 3: RECLASSIFICATION

         Certain amounts in prior periods have been reclassified for comparative
purposes.




                                      -8-
<PAGE>   9

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

         The following discussion and analysis should be read in conjunction
with the Financial Statements appearing elsewhere in this quarterly report on
Form 10-QSB.

RESULTS OF OPERATIONS

           The following table summarizes the results of operations, stated as a
percentage of sales, for the nine months and three months ended September 30,
1999 and 1998:

                                  NINE MONTHS               THREE MONTHS
                             -------------------       -------------------
                              1999         1998         1999         1998
                             ------       ------       ------       ------
Sales ...................     100.0%       100.0%       100.0%       100.0%
Cost of Sales ...........      55.1%        59.3%        52.9%        53.2%
                             ------       ------       ------       ------
   Gross Profit .........      44.9%        40.7%        47.1%        46.8%
Selling, General and
 Administrative Expenses       31.8%        36.2%        28.6%        44.4%
                             ------       ------       ------       ------
Income from Operations ..      13.1%         4.5%        18.5%         2.4%
Other Expenses ..........      (1.3)%       (1.8)%       (1.1)%       (1.7)%
Interest  Expense .......      (4.0)%       (5.1)%       (3.4)%       (5.6)%
                             ------       ------       ------       ------
   Net Income ...........       7.8%        (2.4)%       14.0%        (4.9)%


        Sales of $3,482,264 for the nine months ended September 30, 1999, were
$817,604, or approximately 31%, more than comparable 1998 sales of $2,664,660.
Most of this increase in sales was attributable to sales of the Company's
hydraulic winches to the U.S. military, which amounted to $633,858 during this
period. The Company also gained sales of $389,217 from special order products
that were neither hubs nor winches. Hub sales during the first nine months of
1999 were $158,956 less than in the same period in 1998. Non-military winch
sales during the first nine months of 1999 were $70,663 less than in the same
period in 1998. The Company believes that non-military winch sales were
adversely affected in large part due to unfair competition in the U.S. market
(see Part II - "Legal Proceedings").

         The Company's gross profit margin improved by over 4% in the first nine
months of 1999 compared to the same period in 1998, reflecting lower product
costs. Also, selling costs decreased from approximately 12% of sales in the
first nine months of 1998 to approximately 9.5% of sales during the nine months
ended September 30, 1999, chiefly due to changes in the Company's product mix.






                                      -9-
<PAGE>   10

         General and administrative expenses for the nine months ended
September 30, 1999, increased by $135,049, or about 21%, from $638,513 in 1998
to $773,562 in 1999; $112,148 of this increase related to salaries, which were
significantly less in 1998 due to refunds made by executive officers to meet
certain loan covenants. Other areas of significant expense increases over the
first nine months of 1998 were professional fees and insurance expense. However,
offsetting these expense increases, loan amortization costs were much lower in
1999 than in 1998 due to reduced financing and loan reset costs. The Company's
general and administrative expenses represented 22.2% of sales in the first nine
months of 1999, compared to approximately 24% in the same period in 1998.

         The Company's income from operations for the first nine months ended
September 30, 1999 increased to $456,778 compared to $120,095 for the same
period in 1998, an increase of approximately 380%, due primarily to the improved
profit margins. Net income totaled $272,344 for the nine months ended September
30, 1999, compared to a net loss of $64,850 during the same period in 1998. Net
income during the three months ending September 30, 1999, was $191,994, compared
to a net loss of $38,811 during the same period in 1998. The Company's earnings
per share in the first nine months of 1999 were $.03 compared to a loss of $.01
in the same period of 1998, and $.02 in the three months ending September 30,
1999, compared to an immaterial amount in the same period in 1998.

LIQUIDITY AND CAPITAL RESOURCES

         The Company's current assets increased by $131,486 to $2,938,208 at
September 30, 1999, compared to $2,806,722 at December 31, 1998. Most of this
increase was reflected in a $168,809 increase in trade accounts receivable,
principally from the U.S. military. This increase in receivables was partially
offset by a decrease in inventory levels of $40,727. Net working capital
increased by $284,835 from $885,346 on December 31, 1998, to $1,170,181 on
September 30, 1999, and the Company's current ratio increased to 1.66 at
September 30, 1999, compared to 1.46 at December 31, 1998. Borrowings under the
Company's line of credit increased by $12,910 from December 31, 1998, but this
increase was offset by a $72,719 decrease in the Company's term loan during
1999, representing continuing scheduled principal payments. Cash generated from
operating activities enabled the Company to reduce its

accounts payable balance from $315,674 on December 31, 1998 to $232,643 on
September 30, 1999 and to repay other debt totaling $37,773 during the first
nine months of 1999. Most of these decreases occurred in the third quarter ended
September 30, 1999.

The Company funds its operations principally through the daily collection of its
trade receivables, supplemented with asset-based borrowings. On March 31, 1999,
the Company increased its asset-based line of credit to $1,750,000 with a
maturity of March 31, 2000. The entire credit facility includes an interest rate
of 3.5% above






                                      -10-
<PAGE>   11

prime in addition to certain banking fees and requires as collateral a security
interest in all of the assets of MileMarker, Inc., including its inventory and
accounts receivable, as well as the pledge of all of the stock held by
MileMarker International, Inc. in MileMarker, Inc. and the key man life
insurance on the Company's President/Chairman.

       The Company has no material commitments outstanding for major capital
expenditures during 1999. The Company has converted its computer system to be
Year 2000 compliant at a cost of approximately $16,000, which was allocated to
the purchase of new computer hardware and software.

PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

        From time to time, the Company is a party to business disputes arising
in the normal course of its business operations. The Company's management
believes that none of these actions, standing alone, or in the aggregate,
currently is material to the Company's operations or finances.

        On March 4, 1999, the Company filed suit against Peterson Publishing and
Warn Industries, Inc. in Broward Circuit Court for defamation, civil conspiracy
and interference with business practices in connection with a November 1997
published test of its hydraulic winch and power source. The Company alleges that
Peterson Publishing conspired with its advertiser, Warn Industries, to
deliberately misrepresent the quality and performance of the Company's product
to potential consumers, thereby adversely affecting sales and profits. The
Company is seeking considerable, yet undetermined damages, both of a
compensatory and a punitive nature. Considerable discovery has been complete.
The Company's attorney fees for this action are limited by a contingency
agreement with the Company's attorneys. The Company's management is unable at
this time to quantify the effects of this action upon the Company's finances or
its operations.

ITEM 2   CHANGES IN SECURITIES

        None.

ITEM 3   DEFAULTS UPON SENIOR SECURITIES

        None

ITEM 4   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

        None





                                      -11-
<PAGE>   12

ITEM  5   OTHER INFORMATION

         On April 15, 1999, the Company received notice from the United States
Army that it had been awarded an initial contract for the purchase of 289
hydraulic winch/bumper assemblies, valued at $557,230. On July 25, 1999, the
Company received notice that it had been awarded an additional contract for 454
hydraulic winch/bumper assemblies valued at $867,839. On July 30, 1999, the
Company received notice that options for an additional 464 units valued at
$1,087,119 were being exercised. The Company anticipates that it will be
receiving substantial additional military orders for its patented hydraulic
winch as the U.S. military replaces electric winches on its existing Humvee
vehicles and equips its new Humvee vehicles with the MileMarker winch.

ITEM  6    EXHIBITS AND REPORTS ON FORM 8K

         SEC Form 8K filed on July 28, 1999 by the Company announcing receipt of
an additional military order for 454 of the Company's hydraulic winch/bumper
assemblies valued at $867,839.

         SEC Form 8K filed on August 2, 1999 by the Company announcing receipt
of an additional military order for 464 of the Company's hydraulic winch/bumper
assemblies valued at $1,087,119.








                                      -12-
<PAGE>   13



                                   SIGNATURES



In accordance with the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, duly authorized.




MILEMARKER INTERNATIONAL, INC.
       (Registrant)


      Nov. 5, 1999                         /s/ Richard E. Aho
-------------------------                  -----------------------------------
        (Date)                             Richard E. Aho, President and
                                           Principal Accounting Officer


        11/5/99                            /s/ Leslie J. Aho
-------------------------                  -----------------------------------
        (Date)                             Leslie J. Aho, Secretary/Treasurer












                                      -13-