SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  Form 10-QSB/A

(Mark One)

[x]      QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE  SECURITIES  EXCHANGE
         ACT OF 1934

                  For the quarterly period ended June 30, 2000
                                                 -------------

[ ]      TRANSITION  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
         ACT OF 1934

           For the transition period from               to
                                          -------------    -------------

                        Commission file number 001-13559
                                               ---------

                      Restaurant Teams International, Inc.
                      ------------------------------------
                 (Name of small business issuer in its charter)

              Texas                                     75-2337102
 (State of other jurisdiction of          (I.R.S. Employer Identification No.)
   incorporation or organization

911 N.W. Loop 281, Suite 111, Longview, Texas               75604
  (Address of principal executive offices)                (Zip Code)

                    Issuer's telephone number (903) 758-2811

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 [ ] No[X]

Number of shares outstanding of each of the issuer's classes of common stock, as
of August 15, 2000 17,356,638 shares of common stock, par value $.01.


<PAGE>

                      RESTAURANT TEAMS INTERNATIONAL, INC.


                                                                        Page No.
                                                                        --------

PART I        FINANCIAL INFORMATION...................................      2

Item 1.       Financial Statements....................................      2
              --------------------

              Condensed Balance Sheets as of December 31, 1999 and
              June 30, 2000 (Unaudited)...............................      2

              Condensed Income Statements For Three Month and
              Six Month Periods Ended June 30, 1999 and
              June 30, 2000 (Unaudited)...............................      4

              Condensed Statements of Cash Flows for the Six Month
              Periods Ended June 30, 1999 and
              June 30, 2000 (Unaudited)...............................      5

              Notes to Interim Condensed Financial Statements
              (Unaudited).............................................      6

Item 2.       Management's Discussion and Analysis of
              ---------------------------------------
              Financial Condition and Results of Operations...........      7
              ---------------------------------------------


PART II       OTHER INFORMATION.......................................      9

Item 2.       Changes in Securities...................................      9
              ---------------------

Item 4.       Submission of Matters to a Vote of Security Holders.....      9
              ---------------------------------------------------

Item 6.       Exhibits and Reports on Form 8-K........................      9
              --------------------------------

Signatures    ........................................................     10

Exhibit Index ........................................................     11





                                                                               1

<PAGE>

                          PART 1 - FINANCIAL STATEMENTS

Item 1:  FINANCIAL STATEMENTS

                      Restaurant Teams International, Inc.
                            Condensed Balance Sheets
                           As of December 31, 1999 and
                                  June 30, 2000


                                         December 31,1999   June 30, 2000
                                            (Audited)        (Unaudited)
ASSETS

CURRENT ASSETS
         Cash                              $     2,521       $    88,439
         Prepaid Expenses                       18,657              --
         Marketable securities                    --              33,659
         Inventory                              13,690            48,746
         Federal Income Tax Receivable          38,030            38,030
                                           -----------       -----------
         Total Current Assets                   72,898           208,874
PROPERTY AND EQUIPMENT, net                  3,608,114         4,394,016

GOODWILL, net                                     --             409,928


OTHER ASSETS
         Assets Held for Sale, Net           1,844,586         1,844,586
         Fatburger Acquisition (Pending)     3,861,632         4,156,632
         Debenture issuance costs               62,150            34,050
                                           -----------       -----------


TOTAL ASSETS                               $ 9,449,380       $11,048,086
                                           ===========       ===========



                                                                               2

<PAGE>

<TABLE>

<CAPTION>

                      Restaurant Teams International, Inc.
                             Condensed Balance Sheet
                           As of December 31, 1999 and
                                  June 30, 2000

                                                         December 31, 1999    June 30, 2000
                                                             (Audited)         (Unaudited)
<S>                                                        <C>                 <C>
LIABILITIES AND SHAREHOLDERS' EQUITY

         CURRENT LIABILITIES
                  Accounts payable                         $     76,324        $    440,348
                  Accrued expenses and other liabilities        430,997             902,395
                  Income tax payable                             10,000                --
                  Current portion of long term debt             719,380           2,600,092
                                                           ------------        ------------
                           Total Current Liabilities          1,236,701           3,942,835

LONG TERM DEBT, net of current portion                        1,328,276           1,266,638

DEFERRED LIABILITIES                                             24,819              24,819

CONVERTIBLE DEBENTURE, less discount                          2,227,846             690,000


STOCKHOLDERS EQUITY
     Preferred stock, $.01 par value                               --                  --
     Preferred stock - Series A, $.10 par value                    --                  --
     Common Stock, $.01 par value                               149,416             176,411
     Additional paid in capital                               8,921,335          11,153,551
     Treasury stock                                            (761,150)           (761,150)
     Dividend distribution                                         --              (966,341)
     Accumulated deficit                                     (3,311,120)         (4,478,677)
     Notes receivable - related parties                        (366,743)               --
                                                           ------------        ------------
                           Total Shareholders' Equity         4,631,738           5,123,794
                                                           ------------        ------------

     TOTAL LIABILITIES AND
     STOCKHOLDERS' EQUITY                                  $  9,449,380        $ 11,048,086
                                                           ============        ============

</TABLE>

                                                                               3

<PAGE>

<TABLE>

<CAPTION>

                      Restaurant Teams International, Inc.
                           Condensed Income Statements
                    For The Three and Six Month Periods Ended
                         June 30, 1999 and June 30, 2000

                                                      Three Months Ended               Six Months Ended
                                                            June 30                        June 30
                                                     2000            1999            2000            1999
                                                         (Unaudited)                      (Unaudited)
                                                ----------------------------    ----------------------------
<S>                                             <C>             <C>             <C>             <C>
Revenues
     Restaurant sales                           $  1,510,381    $    673,728    $  2,944,979    $  1,938,454
     Regulatory services                                --              --           629,246            --
     Rental income                                    78,662          67,476         157,324          67,476
                                                ------------    ------------    ------------    ------------
         Total revenues                            1,589,043         741,204       3,731,549       2,005,930

OPERATING COSTS AND EXPENSES

     Cost of sales                                   499,109         171,644         930,768         506,209
     Labor and benefits                              535,780         212,096       1,117,149         662,077
     Other operating expenses                        329,901          93,024         561,581         269,711
     General and administrative expenses              66,317          18,534         216,419          76,350
     Bad debt expense                                498,070            --           498,070            --
     Depreciation expense                             98,535          79,000         197,070         145,000
     Amortization expense                             36,872            --            55,312            --
     Inventory write-down - RSI                       80,000            --            80,000            --
     Goodwill impairment - RSI                       484,760            --           484,760            --
     Write-off cash advanced - RSI                   169,043            --           169,043            --
                                                ------------    ------------    ------------    ------------
         Total operating costs and expenses        2,798,387         574,298       4,310,172       1,659,347

NON - OPERATING INCOME (EXPENSE)

     Interest expense                               (450,750)       (392,065)       (612,619)       (552,555)
     Gain on sales of assets                            --              --            28,139            --
     Other income                                     (4,454)           --            (4,454)           --
     Acquisition costs                                  --              --              --          (188,288)
                                                ------------    ------------    ------------    ------------
         Total non-operating income (expense)       (455,204)       (392,065)       (588,934)       (740,843)
                                                ------------    ------------    ------------    ------------

NET LOSS                                        $ (1,664,548)   $   (225,159)   $ (1,167,557)   $   (394,260)
                                                ============    ============    ============    ============

NET LOSS PER COMMON
   SHARE - basic and diluted                    $       (.16)   $       (.03)   $       (.11)   $       (.05)
                                                ============    ============    ============    ============


WEIGHTED AVERAGE COMMON
     SHARES OUTSTANDING                           10,735,596       7,399,288      10,440,089       7,215,755

</TABLE>

                                                                               4

<PAGE>

<TABLE>

<CAPTION>

                      Restaurant Teams International, Inc.
                       Condensed Statements of Cash Flows

                                                                                Six Months Ended
                                                                                ----------------
                                                                         June 30, 2000  June 30, 1999
                                                                          (Unaudited)    (Unaudited)
                                                                         -------------  -------------
<S>                                                                       <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
         Net loss                                                         $(1,167,557)   $  (394,260)
         Adjustments to reconcile net loss to
              net cash provided by operating activities:
                  Depreciation and amortization                               252,382        145,000
                  Amortization of discount and issuance
                      costs of convertible debentures                         251,823        384,800
                  Write downs and impairment of RSI assets                    733,803           --
                  Loss (gain) on sale of assets                               (28,139)       193,502
         Net change in operating assets and liabilities:
                  Increase in inventories                                     (35,056)       (28,791)
                  Increase in other current assets                            (15,002)          --
                  Increase (decrease) in accounts payable
                      and other liabilities                                   825,422       (112,065)
                  Other                                                        81,214           --
                                                                          -----------    -----------
                  Net cash provided by operating activities                   898,890        188,186

CASH FLOWS FROM INVESTING ACTIVITIES:
         Purchases of property and equipment                                 (982,972)      (493,134)
         Payments in connection with acquisition of Fatburger (pending)      (295,000)    (2,130,862)
         Payments in connection with current acquisitions                    (225,000)          --
         Decrease in notes receivable from related parties, net                  --          827,000
                                                                          -----------    -----------
                  Net cash used in investing activities                    (1,502,972)    (1,796,996)

CASH FLOWS FROM FINANCING ACTIVITIES:
         Principal payments of long-term debt                                    --         (449,077)
         Proceeds from issuance of note payable and debentures                690,000        500,000
                                                                          -----------    -----------
                  Net cash provided by (used in) financing activities         690,000         50,923

NET INCREASE  (DECREASE) IN CASH                                               85,918     (1,557,887)

CASH AT BEGINNING OF PERIOD                                                     2,521      1,606,245
                                                                          -----------    -----------

CASH AT END OF PERIOD                                                     $    88,439    $    43,858
                                                                          ===========    ===========

</TABLE>

         See accompanying notes to these condensed financial statements.

                                                                               5

<PAGE>

                      Restaurant Teams International, Inc.
                 Notes To Interim Condensed Financial Statements
                         For the Six Month Period Ended
                                  June 30, 2000
                                   (Unaudited)


Note 1.    Basis of Presentation

           The condensed financial statements of Restaurant Teams International,
           Inc. (the  "Company") as of June 30, 1999 and June 30, 2000 have been
           prepared by the Company, pursuant to the rules and regulations of the
           Securities and Exchange Commission.  The information furnished herein
           reflects all adjustments (consisting of normal recurring accruals and
           adjustments)  which are, in the opinion of  management,  necessary to
           fairly  state  the  operating  results  for the  respective  periods.
           However,  these operating  results are not necessarily  indicative of
           the results  expected for the full fiscal year.  Certain  information
           and  footnote  disclosures  normally  included  in  annual  financial
           statements  prepared in accordance with generally accepted accounting
           principals have been omitted  pursuant to such rules and regulations.
           The notes to the  condensed  financial  statements  should be read in
           conjunction with the notes to the financial  statements  contained in
           the Form 10-KSB filed on April 15, 2000. Company management  believes
           that the disclosures are sufficient for interim  financial  reporting
           purposes.

Note 2.    Pro-Forma disclosure regarding acquisitions

           In February and March of 2000 the Company made two acquisitions.  The
           first  acquisition was an asset purchase of substantially  all of the
           assets of the  bankrupt  subsidiaries  of Hartan,  Inc.  dba Tanner's
           Restaurants  whereby the Company paid  $325,000 in cash and notes and
           incurrred $220,882 in acquisitions cost. The second acquisition was a
           stock  purchase  whereby  the Company  obtained  100% of the stock of
           Regulatory Solutions, Inc. ("RSI") in exchange for $100,000 cash, one
           million  shares  of  the  Company's  common  stock  at  closing,  and
           $1,000,000  worth of the Company's  common stock on each of the first
           and second anniversary of the acquisition.

           During the second  quarter of fiscal year 2000,  the former owners of
           RSI filed a motion  with the court to rescind  the  acquisition.  The
           motion was denied,  however,  the  Company  does not  currently  have
           operational  control of RSI.  Therefore,  the Company has written off
           the RSI assets and  impaired  the  goodwill to the value of the stock
           that would be returned if the transaction  were rescinded.  The total
           charges to operations  for these items are  $1,231,873  for the three
           months ended June 30, 2000.

           The  following  pro forma  information  has been  prepared  as if the
           acquisition  of Tanner's had occurred at the beginning of 1999.  Such
           information is not necessarily  reflective of the actual results that
           would have occurred had the acquisition occurred on that date:

                      Restaurant Teams International, Inc.
                         Pro-forma Financial Statements

                                                              Six Months Ended
                                                                June 30, 1999
                                                                 (Unaudited)

           Revenues                                             $   7,098,000
           Net loss                                             $  (1,419,000)
           Net loss per share                                   $        (.20)


                                                                               6

<PAGE>

Note 3.    Segment Information

           The Company applies Statement of Financial  Accounting  Standards No.
           131,  "Disclosures  about  Segments  on  an  Enterprise  and  Related
           Information",  which establishes  standards for reporting information
           about  operating  segments in  financial  statements.  The  Company's
           business  segments  for  the  periods  covered  are  comprised  of  a
           Restaurant Division,  Regulatory Division,  Real Estate Division, and
           Corporate Division.

           Summarized segment  information as of June 30, 2000 and for the three
           and six month period ended June 30, 2000 is as follows:

                                             June 30, 2000
                                             -------------
Assets

           Restaurant Division               $    728,219
           Regulatory Services                    409,928
           Real Estate                          4,492,323
           Corporate                            5,417,616
                                             ------------
                  Total Assets               $ 11,048,086

Sales                                      Six Months Ended   Three Months Ended
                                             June 30, 2000      June 30, 2000
                                           ----------------   ------------------

           Restaurant Division               $  2,944,979       $  1,510,381
           Regulatory Division                    629,246                  -
           Real Estate                            157,324             78,662
                                             ------------       ------------
                 Total Sales                    3,731,549          1,589,043

Operating Income (Loss)

           Restaurant Division                    488,043            164,932
           Regulatory Division                   (861,110)        (1,268,744)
           Real Estate                             52,554             26,662
           Corporate                             (258,110)          (132,193)
                                             ------------       ------------
                  Total operating loss           (578,623)        (1,209,343)

           Information for the six-month period ended September 30, 1999 has not
           been  provided  since the  Company  principally  operated in a single
           reportable segment during that period.

                                                                               7

<PAGE>

<TABLE>

<CAPTION>

Note 4.     Prior Period Adjustments and Restatements

           Certain   errors,   resulting   in  both   the   understatement   and
           overstatement of previously reported assets, liabilities,  income and
           expenses as of June 30,  1999,  and for the six month  period  ended,
           June 30, 1999  resulted  in the  following  changes to total  assets,
           total liabilities, accumulated deficit and net income:

                                                                               Net
                                   Total         Total      Accumulated      Income
                                  Assets      Liabilities     Deficit        (Loss)
                               -----------    -----------   -----------    -----------
<S>                            <C>            <C>           <C>            <C>
As previously reported         $ 9,264,358    $ 4,929,061   $   739,124    $   326,792

Incorrect recognition of a
  gain on the sale of assets          --          193,502       193,502       (193,502)

Understatement of
  amortization in connection
  with debenture issuance
  costs and discounts              (66,326)        62,574       128,900       (128,900)

Understatement of accrued
  interest expense                    --           69,750        69,750        (69,750)

Beneficial conversion
  feature to loans                    --             --         255,900       (255,900)

Understatement of
  depreciation expense             (73,000)          --          73,000        (73,000)
                               -----------    -----------   -----------    -----------

As restated                    $ 9,125,032    $ 5,254,887   $ 1,460,176    $  (394,260)
                               ===========    ===========   ===========    ===========

</TABLE>

Earnings per share results  previously  reported for the six-month  period ended
June 30, 1999 have been  restated as a result of the items  identified  above as
follows:

                                                              Six Month
                                                             Period Ended
                                                            June 30, 1999
                                                            -------------

          Net income per share as previously reported       $         .03
          Effect of corrections of errors                            (.08)
                                                            -------------

          Net loss per share as restated                    $        (.05)
                                                            =============


                                                                               8

<PAGE>

Item 2:    MANAGEMENT'S DISCUSSION AND ANALYSIS OF
           FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Forward-Looking Statements

         This  Quarterly  Report  on  Form  10-QSB  includes   "forward-looking"
statements  within the meaning of Section 27A of the  Securities Act of 1933, as
amended (the Securities Act), and Section 21E of the Securities  Exchange Act of
1934,  as amended (the  Exchange  Act),  which can be  identified  by the use of
forward-looking  terminology  such as,  "may",  "believe",  "expect",  "intend",
"anticipate",  "estimate"  or  "continue"  or  the  negative  thereof  or  other
variations  thereon  or  comparable  terminology.   All  statements  other  than
statements of historical fact included in this Form 10-QSB, are  forward-looking
statements.  Although the Company  believes that the  expectations  reflected in
such  forward-looking  statements are reasonable,  it can give no assurance that
such  expectations  will  prove to have been  correct.  Important  factors  with
respect to any such  forward-looking  statements,  including  certain  risks and
uncertainties  that could cause  actual  results to differ  materially  from the
Company's  expectations  ("Cautionary  Statements")  are  disclosed in this Form
10-QSB,  including,  without limitation, in conjunction with the forward-looking
statements  included in this Form 10-QSB,  and in the Company's Annual Report on
Form 10-KSB for the year ended December 31, 1999.  Important  factors that could
cause  actual  results to differ  materially  from those in the  forward-looking
statements  herein include,  but are not limited to, the newness of the Company,
the need for additional capital and additional financing,  the Company's limited
restaurant base, lack of geographic  diversification,  the risks associated with
expansion, a lack of marketing experience and activities,  risks of franchising,
seasonability,  the  choice  of site  locations,  development  and  construction
delays, need for additional personnel, increases in operating and food costs and
availability  of  supplies,   significant   industry   competition,   government
regulation,  insurance  claims and the ability of the Company to meet its stated
business  goals.  All  subsequent  written and oral  forward-looking  statements
attributable  to the  Company  or persons  acting on its  behalf  are  expressly
qualified in their entirety by the Cautionary Statements.

         The following  discussion  of the results of  operations  and financial
condition  should  be read in  conjunction  with the  Financial  Statements  and
related Notes thereto included herein.

Overview

         The Company was  organized in June of 1990 as Bosko's,  Inc.  under the
laws of the State of Delaware.  In November of 1992 the Company changed its name
to Fresh'n Lite,  Inc.,  and in November of 1995 the Company merged into a Texas
corporation also bearing the name Fresh'n Lite, Inc. The Company  currently owns
and  operates 1 Street  Talk Cafe  restaurant  in the  Colony,  Texas,  Tanner's
Rotisserie  Grills in Atlanta,  GA. and  Regulatory  Solutions,  Inc. of Dallas,
Texas.  In September of 1998 the Company  changed its name to  Restaurant  Teams
International,  Inc. in order to more accurately reflect  management's desire to
position the Company as a franchise holding company.

Results of Operations

         Comparison of Three Months Ended June 30, 1999 and 2000

         Revenues.  For the three months  ended June 30,  2000,  the Company has
generated revenues of $1,589,043 compared to revenues in the same period of 1999
of  $741,204, a 114% increase.  The  increase  in  revenue  is due solely to the
acquisitions of Tanner's.

                                                                               9

<PAGE>

         Costs and Expenses. Costs and expenses for the three month period ended
June 30, 2000  increased by  $2,224,538,  or 387% to  $2,798,836  as compared to
$574,298  for the  corresponding  period of 1999.  This  increase was due to the
costs  associated  with the  increase  revenues  from  Tanner's  and  Regulatory
Solutions, Inc. ("RSI").

         Net Loss.  The Company had a net loss for the three  months  ended June
30, 2000 of  $1,664,548  compared to net loss of $225,159 for the  corresponding
three months of 1999,  representing  $(.15) and $(.03) per share,  respectively.
The  increase in net loss is due  primarily to the write off and  impairment  of
RSI's assets of approximately $1,231,000 as described in Note 2 to the financial
statments.

         Comparison of Six Months Ended June 30, 1999 and 2000

         Revenues.  For the six months  ended June 30,  2000,  the  Company  has
generated revenues of $3,731,549 compared to revenues in the same period 1999 of
$2,005,930, an 86% gain.

         Costs and  Expenses.  Costs and expenses for the six month period ended
June 30, 2000  increased by  $2,650,825,  or 160% to  $4,310,172  as compared to
$1,659,347  for the  corresponding  period of 1999.  The  increase  in costs and
expenses are  primarily due to the same factors cited for the three months ended
June 30, 2000 above.

         Net Loss.  The Company had a net loss for the six months ended June 30,
2000 of $1,167,557  compared to a net loss of $394,260 for the corresponding six
months of 1999,  representing  $(.12) and $(.05)  per share,  respectively.  The
increase in net loss is due  primarily to the write off and  impairment of RSI's
assets of approximately $1,231,000.

Liquidity and Capital Resources

         Historically,  the Company has required  capital to fund the operations
and capital expenditure requirements of its Company-owned restaurants.

         The Company is currently  operating  out of cash flow from  operations.
The Company did two private  placements of the A Debentures and the B Debentures
on May 29,  1998 and June 29,  1998  providing  net  proceeds  to the Company of
$2,670,000.

          The Company has negative  working  capital of  $3,733,961  at June 30,
2000, the majority of which represents the remaining  balance of the debentures,
which are due in May and June  2001.  The  Company  will need to  convert  these
debentures  to stock and/or raise  additional  capital to be able to realize its
assets and satisfy its liabilities in the normal course of business.


                                                                              10

<PAGE>

                           PART II - OTHER INFORMATION

Item 2.  CHANGES IN SECURITIES

         None

Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         None

Item 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)      Hereafter  set  forth  as an  exhibit  to the Form  10-QSB  of
                  Restaurant  Teams   Interanational,   Inc.  is  the  following
                  exhibit:

                  No.               Description of Exhibit
                  ---               ----------------------

                  27                Financial Data Schedule

         (b)      Current Reports on Form 8-K:

                  None



                                                                              11