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, 1999

[ ]  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) 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 [X] No[ ]


Number of shares outstanding of each of the issuer's classes of common stock, as
of November 1, 1999: 10,301,118 shares of common stock, par value $.01.



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<CAPTION>


                      RESTAURANT TEAMS INTERNATIONAL, INC.


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

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

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

                  Condensed Balance Sheet for the Nine Month Period
                  Ended September 30, 1999................................................   2

                  Condensed Income Statement For Three Month and
                  Nine Month Periods Ended September 30, 1998 and September 30, 1999......   4

                  Condensed Statement of Cash Flows for the Nine Month
                  Periods Ended September 30, 1998 and September 30, 1999.................   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


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                                                                               1

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                          PART 1 - FINANCIAL STATEMENTS

Item 1:  FINANCIAL STATEMENTS

                      Restaurant Teams International, Inc.
                             Condensed Balance Sheet
                         For The Nine Month Period Ended
                               September 30, 1999

                                         September 30, 1999   December 31, 1998
                                             (Unaudited)         (Audited)
         ASSETS

         CURRENT ASSETS
Cash ....................................   $    91,280          $ 1,606,245
Prepaid Expenses ........................             0                7,415
Inventory ...............................        17,533               43,035
Federal Income Tax Receivable ...........             0               38,030
                                            -----------          -----------
         Total Current Assets ...........       108,813            1,694,725

         PROPERTY AND EQUIPMENT
Buildings ...............................     4,211,224            4,094,554
Land ....................................       135,000              135,000
Leasehold Improvements ..................        30,113               30,113
Vehicles and Equipment ..................     1,022,443              938,636
                                            -----------          -----------
         Total Property and Equipment ...     5,398,780            5,198,303

Accumulated Depreciation ................      (458,505)            (350,505)
                                            -----------          -----------
         Property and Equipment - Net ...     4,940,275            4,847,798

         OTHER ASSETS
Other Assets ............................        87,183               50,526
Assets Held for Sale, Net of Depreciation     1,373,240            1,073,240
Fatburger Acquisition (Pending) .........     2,130,862                    0
Debenture Costs .........................       194,798              194,798
Notes Receivable - Related Parties ......       260,243            1,087,243
Deferred Income Tax .....................       223,155              223,155
                                            -----------          -----------
         Total Other Assets .............     4,269,481            2,628,962

         TOTAL ASSETS ...................     9,318,569            9,171,485



                                                                               2

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                      Restaurant Teams International, Inc.
                             Condensed Balance Sheet
                         For The Nine Month Period Ended
                               September 30, 1999

                                                      September 30, 1999     December 31, 1998
                                                        (Unaudited)             (Audited)
<S>                                                     <C>                    <C>

         LIABILITIES AND SHAREHOLDER EQUITY

         CURRENT LIABILITIES
Accrued Expenses ....................................   $   251,987            $   317,021
Accounts Payable ....................................        51,211                 89,835
Income Tax Payable ..................................             0                 10,000
Deferred Liabilities ................................             0                 63,141
Deferred Gain on Sale of Assets .....................             0                193,502
Current Portion of Notes Payable - L/T ..............       147,903                121,862
                                                        -----------            -----------
         Total Current Liabilities ..................       451,101                795,361

         OTHER LIABILITIES
Notes Payable - Long Term, Net of Current ...........     1,635,779              2,043,961
Deferred Income Tax Liability .......................             0                269,945
Convertible Debentures ..............................     2,102,698              2,102,698
                                                        -----------            -----------
         Total Other Liabilities ....................     3,738,477              4,416,604

         SHAREHOLDERS EQUITY
Common Stock, $.01 Par Value, 50,000,000 Shares
Authorized, 6,833,443 Issued and Outstanding 12/31/98
9,996,852 Issued and Outstanding 9/15/99 ............       103,011                 68,334
Additional Paid In Capital ..........................     6,698,464              5,718,252
Retained Earnings ...................................      (911,334)            (1,065,916)
Less Treasury Stock, at Cost ........................      (761,150)              (761,150)
                                                        -----------            -----------
     Total Shareholders Equity ......................     5,128,991              3,959,520

     TOTAL LIABILITIES AND
     SHAREHOLDERS EQUITY ............................     9,318,569              9,171,485



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                                                                               3

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                      Restaurant Teams International, Inc.
                           Condensed Income Statement
                   For The Three and Nine Month Periods Ended
                    September 30, 1998 and September 30, 1999

                                                                      Three Months Ended         Nine Months Ended
                                                                        September 30                September 30
                                                                      1999         1998           1999         1998
                                                                        (Unaudited)                  (Unaudited)
                                                                   -----------------------   --------------------------
<S>                                                                <C>           <C>         <C>            <C>

SALES........................................................      $238,230      1,076,110   $ 2,176,684    $ 2,816,946

     EXPENSES
Food and Beverage Costs .....................................        51,781        303,374       557,990        776,985
Salaries and Contract Labor .................................        69,429        306,993       634,031        743,872
Payroll and other Taxes .....................................         7,036         50,822       104,510        125,093
Professional Fees ...........................................       157,969         12,590       214,800         40,105
Advertising and Promotional .................................         5,546         37,166        15,358         79,606
Rent ........................................................        19,878         65,623       172,012        174,186
Insurance ...................................................        21,222         21,691        68,280         56,400
Telephone ...................................................        27,311         13,932        38,814         25,224
Travel ......................................................         5,173          2,165        13,189          9,053
Utilities ...................................................         8,055         27,437        34,336         74,386
Depreciation ................................................        36,000         38,800       108,000        109,568
Amortization ................................................             0         18,000             0         49,417
Interest ....................................................        37,211         55,877       135,216        133,611
Linen and Laundry ...........................................             0         12,008         4,209         35,625
Repairs and Maintenance .....................................           619         10,924        18,005         46,578
Supplies ....................................................         8,690          7,823        21,521         28,665
Miscellaneous ...............................................           318            806           318          6,886
                                                                   -----------------------   --------------------------
     Total Expenses .........................................       456,238        986,031     2,140,589      2,515,260

     OPERATING INCOME .......................................      (218,008)        90,079        36,095        301,686

     OTHER INCOME/(EXPENSE)
Profit / (Loss) on Sale of Assets ...........................             0          1,763       193,502        263,330
Acquisition Cost - Old San Francisco Steak ..................             0         10,758      (188,288)        38,844
Rental Income ...............................................        45,798              0       113,274              0
Income Tax (Expense)/Benefit:
     Current ................................................             0              0             0              0
     Deferred ...............................................             0              0             0              0

     NET INCOME .............................................      (172,210)       102,600       154,583        603,860

Earnings Per Share ..........................................         ($.02)          $.02          $.02           $.09


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                                                                               4

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                      Restaurant Teams International, Inc.
                       Condensed Statements of Cash Flows
                         For The Nine Month Period Ended
                    September 30, 1998 and September 30, 1999

                                                                    September 30, 1999     September 30, 1998
                                                                       (Unaudited)            (Unaudited)
                                                                    ------------------     ------------------
<S>                                                                    <C>                   <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
         Net Income / (Loss)........................................   $  (172,210)          $   603,861

ADJUSTMENT TO RECONCILE NET INCOME
TO NET CASH PROVIDED BY OPERATING
ACTIVITIES:
         Depreciation ..............................................       108,000               109,568
         Amortization ..............................................             0                49,417

NET CHANGE IN ASSETS AND LIABILITIES:
         Decrease / (Increase) in Inventory ........................        25,502               (34,030)
         (Decrease) / Increase in Accounts Payable .................       (38,624)                4,027
         (Decrease) / Increase in Accrued Expenses .................       (65,034)             (295,399)
                                                                       -----------           -----------
TOTAL ADJUSTMENTS ..................................................       (78,156)             (166,417)

Net cash provided by operating activities ..........................      (142,366)              437,444

Cash Flows from Investing Activities:
         Capital Expenditures ......................................      (537,134)           (3,623,312)
         Fatburger Acquisition (Pending) ...........................    (2,130,862)                    0
         (Increase) / Decrease in Notes Receivable .................       827,000                89,543
         Net Proceeds from Sale of Assets ..........................             0               605,673
                                                                       -----------           -----------
Net Cash Used in Investing Activities ..............................    (1,840,996)           (2,928,096)

Cash Flows from Financing Activities:
            Repurchase of Common Stock .............................             0              (562,692)
         Sale of Common Stock / Debentures .........................     1,014,889             2,967,555
         Borrowing on Notes Payable ................................       500,000             1,433,026
         Principal Payments on Notes Payable .......................    (1,046,492)             (580,000)
                                                                       -----------           -----------
Net Cash Provided by Financing Activities ..........................       468,397             3,257,889
NET INCREASE / (DECREASE) IN CASH ..................................    (1,514,965)              767,237
CASH AT BEGINNING OF YEAR ..........................................     1,606,245                20,373
CASH AT END OF PERIOD ..............................................        91,280               787,610

</TABLE>





                                                                               5

<PAGE>


                      Restaurant Teams International, Inc.
                 Notes To Interim Condensed Financial Statements
                         For the Nine Month Period Ended
                               September 30, 1999
                                   (Unaudited)

Note 1.    Basis of Presentation

           The condensed financial statements of Restaurant Teams International,
           Inc. (the  "Company") as of September 30, 1998 and September 30, 1999
           have  been  prepared  by  the  Company,  pursuant  to the  rules  and
           regulations of the Securities  and Exchange  Commission.  The Company
           operates  one  restaurant  under the name  Street  Talk Cafe and owns
           three other facilities which it leases to other operators.

           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,
           1999. Company management believes that the disclosures are sufficient
           for interim financial reporting purposes.











                                                                               6

<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/A-1  for the year ended December 31, 1998.  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,  and owns 3
other facilities  which it leases to other  operators.  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 September 30, 1998 and 1999

         Revenues.  For the three months ended  September 30, 1999,  the Company
has  generated  revenues of $284,028  compared to revenues in the same period of
1998 of  $1,076,110,  a 74%  decrease.  The decrease in revenue is due solely to
management's  decision to close  stores and lease them to other  operators in an
effort to prepare for the pending acquisition of Fatburger Corporation.

                                                                               7

<PAGE>


         Costs and Expenses. Costs and expenses for the three month period ended
September  30,  1999  decreased  by  $529,793  or 47% to $456,238 as compared to
$986,031 for the corresponding period of 1998. This decrease was also due to the
closing of stores to prepare for the pending Fatburger Corporation  acquisition.
The reason  that costs did not  decrease  proportionately  with the  decrease in
revenue  was due to the  increased  legal and  accounting  fees  incurred by the
company  associated  with it's current legal battle with the debenture  holders,
the legal work on the Fatburger acquisition,  and the accounting fees associated
with a change to a national auditing firm.

         Net  Income.  The  Company  had a net loss for the three  months  ended
September  30,  1999 of  $172,210  compared  to net income of  $102,557  for the
corresponding  three  months of 1998,  representing  $(.02)  and $.01 per share,
respectively. Earnings per share figures are based on basic and diluted earnings
per share.

         Comparison of Nine Months Ended September 30, 1998 and 1999

         Revenues. For the nine months ended September 30, 1999, the Company has
generated revenues of $2,176,684 compared to revenues in the same period 1998 of
$2,816,946, a 23% reduction.

         Costs and Expenses.  Costs and expenses for the nine month period ended
September  30, 1999  decreased by $374,671,  or 15% to $2,140,589 as compared to
$2,515,260 for the corresponding period of 1998.

         Net Income.  The  Company  had a net income for the nine  months  ended
September  30,  1999 of $154,583  compared  to a net income of $603,681  for the
corresponding  nine  months  of 1998,  representing  $.02  and  $.09 per  share,
respectively. Earnings per share figures are based on basic and diluted earnings
per share.

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.

Plan of Operations

         The Company has planned the following  operations for the 1999 calendar
year, including:

     (i)  Management's objectives for 1999 include the acquisition and expansion
          of  Fatburger  Corporation  and the  implementation  of an  aggressive
          franchising program.

     (ii) The Company will  continue to  aggressively  pursue every legal remedy
          available  to it  under  the law to  restore  our  shareholders  value
          through the litigation in New York regarding the debenture holders.

Employees

         The  Company  expects to hire two full time  management  personnel  and
twenty  part time  hourly  personnel  with the  opening  of each new  restaurant
operation.  The cost of these  personnel  should be 25% of the annual  operating
revenue  to be  generated  by each  operation.  The  initial  cost of hiring and
training of all personnel is covered in the store start up costs.


                                                                               8

<PAGE>



Year 2000 Compliance

         The Company uses current  versions of widely used,  publicly  available
software  for its  accounting,  data  processing,  and  point  of sale  computer
requirements.  The providers of the software utilized by the Company have stated
that there will be no failures  in the  programs  used by the Company  resulting
from the year 2000.  The Company does not utilize any customized  software.  The
Company has not yet  determined  the impact,  if any,  that year 2000 issued may
have  on  its  vendors.   However,  the  Company  believes  there  are  adequate
alternative  vendors  that can supply  products  and  services to the Company if
necessary.  Finally,  the  Company's  business  is  not  highly  dependent  upon
electronic data processing. In conclusion, the Company does not believe it is at
a material risk from year 2000 issues.


                           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 International, Inc. is the following exhibit:

          No.               Description of Exhibit

          27                Financial Data Schedule


     (b)  Current Reports on Form 8-K:

          None












                                                                               9
<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 30, 1999     By: /s/ Stanley L. Swanson
                                 ----------------------
                                     Stanley L. Swanson, Chief Executive Officer
                                     (Duly Authorized Signatory)


Date:  November 30, 1999     By: /s/ Curtis A. Swanson
                                 ---------------------
                                     Curtis A. Swanson, Chief Financial Officer
                                     and Executive Vice President
                                     (Duly Authorized Signatory)












                                                                              10

<PAGE>


                                  EXHIBIT INDEX


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

27                Financial Data Schedule























                                                                              11