SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

                                   (Mark One)

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

                  For the quarterly period ended March 31, 2002

                                       OR

       |_| TRANSITION REPORT UNDER SECTION 13 OF 15(d) OF THE EXCHANGE ACT
                                    OF 1934

          From the transition period from ___________ to ____________.

                         Commission File Number 01-28911


                      NATIONAL HEALTHCARE TECHNOLOGY, INC.
        (Exact name of small business issuer as specified in its charter)

                               Colorado 91-1869677
                (State or other jurisdiction of incorporation or
                 organization)(IRS Employer Identification No.)


           21800 Oxnard Street, #440, Woodland Hills, California 91367
                    (Address of principal executive offices)

                                 (818) 598-8888
                           (Issuer's telephone number)

                                       N/A
              (Former name, former address and former fiscal year,
                         if changed since last report)

      Indicate by check mark whether the registrant (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 May 17, 2002 7,855,500 shares of Common Stock of the issuer were
outstanding.

<PAGE>

                      NATIONAL HEALTHCARE TECHNOLOGY, INC.
                                   FORM 10-QSB

                                      INDEX

                                     PART I

Item 1.         Financial Statements

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

                                     PART II

Item 1.         Legal Proceedings

Item 5.         Other information

Item 6.         Exhibits and Reports on Form 8-K

                Signatures

<PAGE>

                          PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

                      NATIONAL HEALTHCARE TECHNOLOGY, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                            CONDENSED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                   March 31,   September 30,
                                                                     2002            2001
                                                                  --------------------------
                                                                  (Unaudited)
<S>                                                               <C>            <C>
ASSETS                                                            $        --    $        --
                                                                  ===========    ===========

                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

Current liabilities:
  Accounts payable:
    Trade                                                         $    30,756    $    10,312
    Stein's Holdings, Inc.                                             47,404         35,811
  Income tax payable                                                      800            800
  Deposit on merger                                                    18,304         18,304
                                                                  -----------    -----------
    Total current liabilities                                          97,264         65,227
                                                                  -----------    -----------

Stockholders' equity:
  Preferred stock, $.01 par value, 500,000 shares
    authorized, no shares issued and outstanding                           --             --
  Common stock, $.001 par value, 25,000,000 shares
    authorized:  7,855,500 shares issued and outstanding:               7,855          7,855
  Additional paid in capital                                        1,237,439      1,237,439
  Deficit accumulated during the development stage                 (1,342,558)    (1,310,521)
                                                                  -----------    -----------
    Total stockholders' equity (deficit)                              (97,264)       (65,227)
                                                                  -----------    -----------
                                                                  $        --    $        --
                                                                  ===========    ===========
</TABLE>

 See accompanying notes to interim condensed consolidated financial statements.

<PAGE>

                      NATIONAL HEALTHCARE TECHNOLOGY, INC.
                          (A DEVELOMENT STAGE COMPANY)
                       CONDENSED STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                  Inception
                                         Three Months Ended             Six Months Ended           through
                                              March 31,                     March 31,              March 31,
                                         2002           2001           2002           2001           2002
                                      -----------    -----------    -----------    -----------    -----------
<S>                                   <C>            <C>            <C>            <C>            <C>
Revenue                               $        --    $        --    $        --    $        --    $     9,578

Expenses:
  Development costs                            --             --             --             --      1,264,236
  General and administrative               17,495         11,941         32,037         24,956         84,700
                                      -----------    -----------    -----------    -----------    -----------
                                           17,495         11,941         32,037         24,956      1,348,936
                                      -----------    -----------    -----------    -----------    -----------

                                      -----------    -----------    -----------    -----------    -----------
Net loss before income taxes               17,495         11,941         32,037         24,956      1,339,358

Income taxes                                   --             --             --             --          3,200
                                      -----------    -----------    -----------    -----------    -----------

                                      -----------    -----------    -----------    -----------    -----------
Net loss                              $   (17,495)   $   (11,941)   $   (32,037)   $   (24,956)   $(1,342,558)
                                      ===========    ===========    ===========    ===========    ===========

Basic net loss per common share       $      0.00    $      0.00    $      0.00    $      0.00
                                      ===========    ===========    ===========    ===========

Weighted average shares outstanding     7,855,500      7,855,500      7,855,500      5,575,500
                                      ===========    ===========    ===========    ===========
</TABLE>

 See accompanying notes to interim condensed consolidated financial statements.

<PAGE>

                      NATIONAL HEALTHCARE TECHNOLOGY, INC.
                       CONDENSED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                              Inception
                                                                   Six Months Ended            through
                                                                       March 31,              March 31,
                                                                  2002           2001           2002
                                                               -----------    -----------    -----------
<S>                                                            <C>            <C>            <C>
Cash flows from operating activities:
  Net loss                                                     $   (32,037)   $   (24,956)   $(1,342,558)
    Adjustments to reconcile net loss to net cash
    Provided by (used in) operating activities:
      Depreciation and amortization                                     --             --         22,977
      Common stock issued for settlement of interest expense            --             --         12,900
      Common stock issued for services                                  --             --        217,900
      Loss on abandoned assets                                          --             --        120,387
      Gain on sale of assets                                            --             --           (500)
      Income from sale of abandoned assets                              --             --         (9,578)
  Changes in operating assets and liabilities
    Accounts payable                                                32,037         22,226         78,963
    Corporate income tax payable                                        --             --            800
    Deposit on merger                                                   --             --         18,304
                                                               -----------    -----------    -----------
        Net cash provided by (used in) operating activities             --         (2,730)      (880,405)
                                                               -----------    -----------    -----------

Cash flows from investing activities:
  Purchase of property and equipment                                    --             --        (87,314)
  Proceeds from the sale of equipment                                   --             --          5,500
  Proceeds from the sale of abandoned assets                            --             --          9,578
                                                               -----------    -----------    -----------
        Net cash provided by (used in) investing activities             --             --        (72,236)
                                                               -----------    -----------    -----------

Cash flows from financing activities:
  Proceeds from notes payable                                           --            615        217,200
  Payments on notes payable                                             --             --        (20,000)
  Proceeds from the sale of common stock                                --             --        798,500
  Payments on offering costs                                            --             --         (2,730)
                                                               -----------    -----------    -----------
        Net cash provided by financing activities                       --            615        952,641
                                                               -----------    -----------    -----------

Net increase (decrease) in cash and cash equivalents                    --         (2,115)            --
Cash and cash equivalents at beginning of period                        --          2,115             --
                                                               -----------    -----------    -----------
Cash and cash equivalents at end of period                     $        --    $        --    $        --
                                                               ===========    ===========    ===========
</TABLE>

 See accompanying notes to interim condensed consolidated financial statements.

<PAGE>

                      NATIONAL HEALTHCARE TECHNOLOGY, INC.
                 NOTES TO INTERIM CONDENSED FINANCIAL STATEMENTS
                                 March 31, 2002


Note 1:Presentation

The condensed balance sheet of the Company as of December 31, 2001, the related
condensed statements of operations and cash flows for the three and six months
ended March 31, 2002 and 2001 included in the condensed financial statements
have been prepared by the Company without audit. In the opinion of management,
the accompanying condensed financial statements include all adjustments
(consisting of normal, recurring adjustments) necessary to summarize fairly the
Company's financial position and results of operations. The results of
operations for the three and six months ended March 31, 2002 are not necessarily
indicative of the results of operations for the full year or any other interim
period. The information included in this Form 10-QSB should be read in
conjunction with Management's Discussion and Analysis and Financial Statements
and notes thereto included in the National Healthcare Technology, Inc.'s
September 30, 2001 Form 10-KSB.

<PAGE>

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS

This report contains forward looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended and Section 21E of the Securities
Exchange Act of 1934, as amended. The Company's actual results could differ
materially from those set forth on the forward looking statements as a result of
the risks set forth in the Company's filings with the Securities and Exchange
Commission, general economic conditions, and changes in the assumptions used in
making such forward looking statements.

GENERAL

National Healthcare Technology, Inc. (the "Company") was organized February 29,
1996 as "Patriot Holding Corporation" and subsequently changed its name to
"National Healthcare Technology, Inc." on August 26, 1996. Between 1996 and
1999, the Company was unsuccessful in raising sufficient capital to begin and
complete a proposed double-blind study of an intravenous drug called Magkelate.
The Company did raise $1,000,000 which was used to pay its operating expenses
and general and administrative expenses as well as expenses related to starting
the double-blind study. Following its inability to raise capital and needing to
conserve its financial resources, the Company dismissed all of its employees in
early 1999. The developer of Magkelate passed away in the fall of 1999 and the
Magkelate patent has expired. Since 1999, the Company has been substantially
inactive. The Company is in the development stage as defined in Statement of
Financial Accounting Standards No. 7.

When used in this Form 10-QSB, the words "anticipate", "estimate", "expect",
"project" and similar expressions are intended to identify forward-looking
statements. Such statements are subject to certain risks, uncertainties and
assumptions including the possibility that the Company's proposed plan of
operation will fail to generate projected revenues. Should one or more of these
risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those anticipated, estimated
or projected.

RESULTS OF OPERATIONS

During the period from November 5, 1989 (inception) through March 31, 2002, the
Company engaged in limited operations and attempted to initiate its double blind
study of its drug, Magkelate. The Company received no revenues during this
period. The capital raised was expended for general office and administrative
expenses and the proposed double-blind study of Magkelate, which double-blind
study the Company was unable to start due to lack of capital.

For the six months ended March 31, 2002, the Company had no revenue and its
expenses were $32,037 resulting in a net loss for the six months of $32,037
compared to no revenue and expenses of $24,956 for the six months ended March
31, 2001 and a net loss of $24,956 for the six months then ended.

For the three months ended March 31, 2002, the Company had no revenue and its
expenses were $17,495 resulting in a net loss for the quarter of $17,495
compared to no revenue and expenses of $11,941 for the three months ended March
31, 2001 and a net loss of $11,941.

The Company anticipates that until a business combination is completed with an
acquisition candidate, it will not generate revenue and may operate at a loss
after completing a business combination, depending upon the performance of the
acquired business.

The Company will attempt to carry out its business plan as
discussed above. The Company cannot predict to what extent its lack of liquidity
and capital resources will hinder its business plan prior to the consummation of
a business combination.

LIQUIDITY AND CAPITAL RESOURCES

The Company is in the development stage and since inception has experienced no
significant change in liquidity or capital resources or stockholders equity
other than the receipt of $1,000,000 from an offering conducted under Rule 504
of Regulation D in 1997. The Company's balance sheet as of March 31, 2002
reflects no assets and limited liabilities. Further, there exists no agreements
or understandings with regard to loan agreements by or with the Officers,
Directors, principals, affiliates or shareholders of the Company.

<PAGE>

The Company is continuing to search for suitable merger candidates or other
businesses to become involved in so that it can commence operations and generate
revenues to continue paying its bills.

The Company will attempt to carry out its plan of business and hopes to enter
into a business combination with another entity. The Company cannot predict to
what extent its lack of liquidity and capital resources will hinder its business
plan prior to the consummation of a business combination.

NEED FOR ADDITIONAL FINANCING

The Company's existing capital will not be sufficient to meet the Company's cash
needs, including the costs of compliance with the continuing reporting
requirements of the Securities Exchange Act of 1934, as amended. Once a business
combination is completed, the Company's need for additional financing is likely
to increase substantially. No commitments to provide additional funds have been
made by management or other stockholders. Accordingly, there can be no assurance
that any funds will be available to the Company to allow it to cover its
expenses.

The Company might seek to compensate providers of services by issuing common
stock in lieu of cash.

PART II - OTHER INFORMATION

Items No. 1, 2, 3, 4, 5 - Not applicable.

Item 6. EXHIBITS AND REPORTS ON FORM 8-K

      a)    Exhibits

      b)    Reports on Form 8-K

      There were no reports on Form 8-K filed during the quarter for which this
      report is filed.

                                   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,
thereunto duly authorized.


         NATIONAL HEALTHCARE TECHNOLOGY, INC.


Date: May 17, 2002         By:_/s/ Charles Smith
                              Charles Smith, CEO, CFO