SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)

[x]    QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
       OF 1934
                For the quarterly period ended September 30, 2001
                                               ------------------

[ ]    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
      incorporation or organization)                      Identification No.)

    2101 E. Loop 281, Longview, Texas                          75605
(Address of principal executive offices)                     (Zip Code)

                    Issuer's telephone number (903) 295-6800


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 October 24, 2001 49,764,663 shares of common stock, par value $.01.



<PAGE>

                      RESTAURANT TEAMS INTERNATIONAL, INC.


                                                                       Page  No.

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

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

            Table of Contents to Financial Information.....................  3

            Condensed Balance Sheets as of December 31, 2000 and
            September 30, 2001.............................................  4

            Condensed Statements of Continuing Operations
            For Three Month andNine Month Periods Ended
            September 30, 2000 and September 30, 2001  ....................  6

            Condensed Statements of Cash Flows for the Nine-Month
            Periods Ended September 30, 2000 and September 30, 2001 .......  7

            Notes to Interim Condensed Financial Statements ...............  8

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


PART II     OTHER INFORMATION.............................................. 11

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

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

Item 6.     Exhibits and Reports on Form 8-K............................... 11
            --------------------------------

Signatures  ............................................................... 12


Item  1.  FINANCIAL STATEMENTS


                      Restaurant Teams International, Inc.
                              Financial Statements
                            As of September 30, 2001



<PAGE>


                      Restaurant Teams International, Inc.

                              Financial Statements


                            As of September 30, 2001


                                    Contents
Financial Statements

Balance Sheet .............................................................  4
Statements of Operations ..................................................  6
Statements of Cash Flow....................................................  7
Notes......................................................................  8


<PAGE>
<TABLE>
<CAPTION>


                      Restaurant Teams International, Inc.
                            Condensed Balance Sheets

                                                                          Dec. 31, 2000    Sept. 30, 2001
<S>                                                                       <C>              <C>

ASSETS

CURRENT ASSETS
  Cash                                                                     $   59,133       $   42,188
  Inventories                                                                   6,225            6,871
  Marketable Securities                                                        24,140                0
                                              Total Current Assets             89,498           49,059

PROPERTY AND EQUIPMENT, net                                                 2,680,238        2,612,738

OTHER ASSETS
  Assets Held for Sale, net                                                   257,000          257,000
 Assets of discontinued operations,net                                         84,607                0
McConnell Franchise                                                                 0           55,000

TOTAL ASSETS                                                                3,111,343        2,973,797




                                                                               4

<PAGE>

LIABILITIES AND SHAREHOLDERS EQUITY

CURRENT LIABILITIES
   Amounts due related parties, net                                            47,500              0
  Accounts Payable                                                            446,869        398,779
  Accrued Expenses and Other Liabilities                                      831,232        627,084
  Income Tax Payable                                                           10,000         10,000
  Current Portion of Long Term Debt                                         1,764,819      1,764,819

                                              Total current liabilities     3,100,420      2,800,819

LONG TERM DEBT, net of current                                                      0         50,000

CONVERTIBLE DEBENTURES                                                      1,996,301              0

DEFERRED LIABILITIES                                                           32,638         32,638


SHAREHOLDERS EQUITY
  Preferred Stock Series A                                                          0      1,999,920
  Preferred Stock Series B                                                          0        143,803
  Common Stock                                                                365,814        497,647
  Additional Paid In Capital                                               12,265,653     12,758,903
  Treasury Stock                                                             (773,456)      (773,456)
  Accumulated Deficit                                                     (13,876,027)   (13,876,027)
  Current Earnings                                                                  0       (660,313)
                                                                          -----------    -----------
                                              Total Stockholders Equity    (2,018,016)        90,477

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY                                   3,111,343      2,973,797
</TABLE>




                                                                               5

<PAGE>
<TABLE>
<CAPTION>


                      Restaurant Teams International, Inc.
                           Condensed Income Statements
                   For The Three and Nine Month Periods Ended
                    September 30, 2000 and September 30, 2001

                                                      Three Months Ended               Nine Months Ended
                                                         September 30                    September 30
                                                     2001            2000            2001            2000
                                                 -----------------------------------------------------------
<S>                                              <C>            <C>             <C>             <C>
Revenues

     Restaurant sales                           $    139,521    $  1,065,053    $    503,913    $  3,945,101
     Regulatory services                                --              --              --           629,246
     Rental income                                    95,478          78,778         217,434         236,102
                                                ------------    ------------    ------------    ------------
         Total revenues                              234,999       1,143,831         721,347       4,810,449

OPERATING COSTS AND EXPENSES

     Cost of sales                                    48,825         401,921         173,266       1,389,378
     Labor and benefits                              102,019         594,285         461,674       1,711,434
     Other operating expenses                         20,368          64,228          87,002         627,097
     General and administrative expenses             132,419          25,218         237,104         241,637
     Bad debt expense                                   --              --              --           498,070
     Depreciation expense                             22,500          98,535          67,500         295,605
     Amortization expense                               --              --              --            61,127
     Inventory write-down                               --              --              --            80,000
     Goodwill impairment                                --              --              --           743,256
         Total operating costs and expenses          326,131       1,184,187       1,026,546       5,647,604

NON - OPERATING (INCOME) EXPENSE

     Interest expense                                 46,150         108,695         139,102         635,777
     (Gain) Loss on Discontinued Operations             --           107,000         216,012         108,861
     Other (income) loss                                --          (697,711)           --             4,454
     Acquisition                                        --         4,156,632            --         4,156,632
         Total non-operating income (expense)        (46,150)     (5,070,038)       (355,114)     (4,905,724)
                                                ------------    ------------    ------------    ------------
NET LOSS                                        $   (137,282)   $ (5,110,394)   $   (660,313)   $ (5,742,879)
                                                ============    ============    ============    ============

NET LOSS PER COMMON
   SHARE - basic and diluted                    $       (.00)   $       (.26)   $       (.01)   $       (.29)
                                                ============    ============    ============    ============

COMMON SHARES OUTSTANDING                         49,764,663      19,899,011      49,764,663      19,899,011
</TABLE>


                                                                               6

<PAGE>
<TABLE>
<CAPTION>


                      Restaurant Teams International, Inc.
                       Condensed Statements of Cash Flows

                                                                             Nine Months Ended
                                                                         Sept. 30,      Sept. 30,
                                                                            2001           2000
                                                                        -----------    -----------
<S>                                                                     <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
         Net loss                                                       $  (660,313)   $(5,887,484)
         Adjustments to reconcile net loss to
              net cash provided by operating activities:
                  Depreciation and amortization                              67,500        326,732
                           Amortization of discount and issuance
                      costs of convertible debentures                             0        279,800
                  Write downs and impairment of RSI assets                        0        823,256
                  Write off of Fatburger Acquisition                              0      4,156,652
                  Loss (gain) on sale of assets                                   0         78,861
         Net change in operating assets and liabilities:
                  Increase in accounts receivable                                 0         (9,091)
                  Increase in inventories                                       646        (24.735)
                  (Increase)decrease in other current assets                 24,140        (15,002)
             Increase (decrease) in accounts payable
                      and accrued expenses                                 (363,530)       706,771
                  Increase (decrease) in notes due to related parties       (47,500)             0
                  Other                                                           0        (19,743)
                                                                        -----------    -----------
                  Net cash provided by operating activities                (979,057)       415,997

CASH FLOWS FROM INVESTING ACTIVITIES:
         Purchases of property and equipment                                      0       (982,972)
         Proceeds from sale of property and equipment                             0        100,000
         Payments in connection with current acquisitions                         0       (225,000)
         Payments in connection with current acquisitions                    55,000              0
         Change in assets of discontinued operations                         84,607              0
                                                                        -----------    -----------
                  Net cash used in investing activities                     139,607     (1,107,792)

CASH FLOWS FROM FINANCING ACTIVITIES:
         Change in Long Term Debt                                            50,000
         Change in Convertible Dentures                                  (1,996,301)             0
         Change in Common Stock                                             131,833              0
         Change in Contributed Capital                                      493,250              0
         Change in Series A Preferred Stock                               1,999,920              0
         Change in Series B Preferred Stock                                 143,803              0
         Proceeds from issuance of note payable and debentures                    0        690,000
                                                                        -----------    -----------
                  Net cash provided by (used in) financing activities       822,505        690,000

NET INCREASE  (DECREASE) IN CASH                                            (16,945)        (1,795)
CASH AT BEGINNING OF PERIOD                                                  59,133          2,521
                                                                        -----------    -----------
CASH AT END OF PERIOD                                                   $    42,188    $       726
                                                                        ===========    ===========
</TABLE>


                                                                               7

<PAGE>

                      Restaurant Teams International, Inc.
                 Notes To Interim Condensed Financial Statements
                         For the Nine Month Period Ended
                               September 30, 2001


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
          A-1. Company  management  believes that the disclosures are sufficient
          for interim financial reporting purposes.





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, 2000.  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  subsequently
changed its name to Restaurant Teams International,  Inc. on September 15, 1998.
The Company  currently owns and operates one Street Talk Cafe  restaurant in the
Colony, Texas.

     In August 2001 the Company  acquired the  franchise  rights to  McConnell's
Fine Ice  Cream  from W/F  Investment  Corp.,  a  principal  shareholder  of the
Company.  McConnell's  Fine Ice Cream is a  52-year-old  company  based in Santa
Barbara,  California that produces  high-end ice cream products for distribution
in retail outlets. To date there has been no attempt by the Company to expand on
this concept but management is reviewing its options in this regard.

                                                                               9

<PAGE>


Subsequent Events

     On October 13, 2001 the Company  entered  into an agreement to acquire 100%
of New Orleans,  Louisiana based MedEx Systems, Inc. and Pegasus Pharmacy,  Inc.
for  $25,000,000  worth of the  Company's  post split  common stock at $7.10 per
share or 3,521,127 shares. MedEx Systems,  Inc. is a medical  communications and
technology  company  that  provides  wireless   prescription  writing  solutions
primarily geared towards the pain management segment.  Pegasus Pharmacy, Inc. is
the retail  distribution  division  specializing in the filling of prescriptions
generated  by the MedEx  Systems,  Inc.  technology.  The Company  has  advanced
$220,000 in the way of loans to MedEx Systems,  Inc. as interim funding prior to
closing.  It is  anticipated  that  $110,000.00 of this amount will be converted
into contributed capital upon completion of the acquisition while the balance of
$100,000.00 will be converted to inter-company debt.

     The Company's annual shareholder  meeting is being held on December 6, 2001
where,  among other  things,  the  shareholders  will be asked to approve a name
change from  Restaurant  Teams  International,  Inc. to RTIN  Holdings,  Inc. to
accurately reflect the Company's business strategies.

Results of Operations

     Comparison of Nine Months Ended September 30, 2000 and 2001

     Revenues.  For the nine months ended  September  30, 2001,  the Company has
generated  revenues from continuing  operations of $721,347 compared to revenues
of continuing operations in the same period of 2000 of $781,413, an 8% decrease.
The  decrease  in  revenue  is due  primarily  to the slow  down in sales at the
Company's  Colony  restaurant due to a number of new restaurant  openings in the
area during the period.

     Costs and  Expenses.  Costs and  expenses for the  nine-month  period ended
September 30, 2001 decreased by $9,171,668 or 87% to $1,381,660 as compared to $
10,553,328 for the  corresponding  period of 2000.  This decrease was due to the
previous periods costs associated with the increase in overhead  associated with
the  gearing  up  for  the  Tanner's  and  Regulatory  Solutions,  Inc.  ("RSI")
acquisitions  and write offs  associated  with the  abandoned  Fatburger and RSI
transactions.

     Net Loss.  The Company had a net loss for the nine months  ended  September
30, 2001 of $660,313  compared to net loss of $5,742,879  for the  corresponding
nine  months of 2000,  representing  a loss of $.01  and  $.29  per  share,
respectively.


Liquidity and Capital Resources

     Historically,  the  Company  has  required  capital  to  fund  its  capital
expenditure requirements.

     The Company has negative  working  capital of  $2,751,623  at September 30,
2001, a large portion of which represents the amount owed on it's notes payables
which have matured or will mature in 2001.  The Company is seeking to reorganize
its debt  structure  and will  attempt to  refinance  the amounts  owed on notes
payable for longer  periods.  There is no  guarantee  that the  Company  will be
successful in its attempts to refinance and may be required to raise  additional
equity in the future to retire its outstanding debt obligations.

     The  Company's   principal   capital   requirements   are  the  funding  of
acquisitions and expansion.

                                                                              10

<PAGE>

                           PART II - OTHER INFORMATION


Item 2.  CHANGES IN SECURITIES

On March 15, 2001,  the Board of Directors of the Company  approved the issuance
of 1,000,000  shares of Series B  Convertible  Preferred  stock  ("Series B") in
exchange  for  1,000,000  shares of common  stock owned by Curtis A. Swanson and
Stanley L.  Swanson and  $143,803 in  relinquishment  of accrued  salaries.  The
Series B stock has no par  value,  has full  voting  power  with  respect to all
actions  taken by  shareholders,  carries a fifty to one (50:1) voting rights as
compared to common shares with  anti-dilution  rights,  and is convertible  into
shares of  common  stock on a one for one  (1:1)  basis and is non  transferable
prior to conversion into Common Stock.

The Company's board of directors approved the issuance of up to 5,500,000 shares
of Series C Preferred  stock  ("Series C"). The Series C shares were offered and
sold to  existing  shareholders  of the  Company.  The  offering  has been fully
subscribed.  The Series C shares have no voting  rights nor are they  registered
for resale.  The shares are  convertible one for one (1:1) into the common stock
of the  Company  and are subject to a lock up  provision  which  allows only ten
percent (10%) of the holders'  shares of Series C Preferred to be converted into
common stock during any 30 day period.


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 International, Inc. is the following exhibit:

               None


          (b)  Current Reports on Form 8-K:

               None

                                                                              11

<PAGE>

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company
has duly  caused  this  report  to be signed  on its  behalf by the  undersigned
thereunto duly authorized.



                                            Restaurant Teams International, Inc.
                                            (Registrant)


Date:    November 19, 2001                  By:  /s/ Stanley L. Swanson
                                                 ----------------------
                                                 Stanley L. Swanson,
                                                 Chief Executive Officer
                                                 (Duly Authorized Signatory)


Date:    November 19, 2001                  By:  /s/ Curtis A. Swanson
                                                 ---------------------
                                                 Curtis A. Swanson,
                                                 Chief Operating Officer
                                                 and Executive Vice President
                                                 (Duly Authorized Signatory)