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

                                   FORM 10QSB

(Mark One)

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

                 For the quarterly period ended March 31, 2002.

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

         For the transition period from _____________ to _____________

                         Commission file number 0-23858

                                 E.MERGENT, INC.

        (Exact name of small business issuer as specified in its charter)

Delaware                                                         41-1726281
(State or other jurisdiction of                                (IRS Employer
incorporation or organization)                               Identification No.)

                             6110 Golden Hills Drive
                             Golden Valley, MN 55416
                    (Address of principal executive offices)

                                 (763) 542-0061
                           (Issuer's telephone number)

       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 _____


                      APPLICABLE ONLY TO CORPORATE ISSUERS

       State the number of shares outstanding of each of the issuer's classes of
common equity, as of May 10, 2002: 5,931,280


Transitional Small Business Disclosure Format (check one):   Yes ___   No _X_

<PAGE>


                         PART 1 -- FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS
                                 E.MERGENT, INC.
                  INTERIM CONDENSED BALANCE SHEETS - UNAUDITED

<TABLE>
<CAPTION>
                                                                                           MARCH 31,      DECEMBER 31,
                              ASSETS                                                         2002            2001
<S>                                                                                      <C>             <C>
Current assets
   Cash and cash equivalents ........................................................    $  1,505,128    $    807,115
   Accounts receivable, less allowance for doubtful accounts of $150,000 on March 31,
     2002 and $150,000 on December 31, 2001 .........................................       3,143,675       3,299,720
   Other receivables ................................................................           8,538           7,091
   Inventories (Note 4) .............................................................       3,605,419       3,736,517
   Deferred income taxes ............................................................         425,000         425,000
   Prepaid expenses .................................................................         151,469         128,603
                                                                                         ------------    ------------
     Total current assets ...........................................................       8,839,229       8,404,046

Property and equipment
   Office and computer equipment ....................................................         891,079         881,514
   Machinery and equipment ..........................................................         368,402         363,408
   Tooling ..........................................................................         792,301         757,441
   Leasehold improvements ...........................................................          64,228          59,100
                                                                                         ------------    ------------
   Total equipment ..................................................................       2,116,010       2,061,463
       Less accumulated depreciation ................................................      (1,672,779)     (1,587,981)
                                                                                         ------------    ------------
       Net property and equipment ...................................................         443,231         473,482

Other assets
   Deferred income taxes ............................................................          75,000          75,000
   Goodwill, net ....................................................................         999,040         999,040
   Noncompete, net ..................................................................         583,333         598,958
   Patents, net .....................................................................          85,714          92,857
   Notes receivable from Medcam .....................................................          33,000          42,000
   Investment in Medcam .............................................................         150,000         150,000
                                                                                         ------------    ------------
       Total other assets ...........................................................       1,926,087       1,957,855

       Total assets .................................................................    $ 11,208,547    $ 10,835,383
                                                                                         ============    ============

                     LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
   Accounts payable .................................................................    $  1,547,912    $    862,168
   Bank line of credit (Note 3) .....................................................               0               0
   Current maturities of unearned maintenance contracts .............................         687,858         764,072
   Current maturities of long-term debt and capital leases ..........................         237,547         237,547
   Customer deposits and other liabilities ..........................................         147,936         150,113
   Accrued compensation .............................................................         292,156         203,635
   Income taxes payable .............................................................          20,531         188,911
   Other ............................................................................          13,682          77,061
                                                                                         ------------    ------------
     Total current liabilities ......................................................       2,947,622       2,483,507
Long-term debt and capital leases, net of current maturities ........................         339,668         403,245
Unearned maintenance contracts, net of current maturities ...........................         319,063         300,418

Stockholders' equity
   Common stock, $.01 par value; Authorized 20,000,000 shares issued and outstanding,
   5,931,280 shares at March 31, 2002 and 5,929,280 shares at December 31, 2001 .....          59,313          59,293
   Additional paid in capital .......................................................       7,866,750       7,863,640
   Treasury stock ...................................................................         (73,386)        (73,386)
   Note receivable from officer .....................................................        (121,875)       (121,875)
   Accumulated deficit ..............................................................        (128,608)        (79,459)
                                                                                         ------------    ------------
     Total stockholders' equity .....................................................       7,602,194       7,648,213
                                                                                         ------------    ------------
       Total liabilities and stockholders' equity ...................................    $ 11,208,547    $ 10,835,383
                                                                                         ============    ============
</TABLE>


                                     Page 2

<PAGE>


             INTERIM CONDENSED STATEMENTS OF OPERATIONS - UNAUDITED

<TABLE>
<CAPTION>
                                                  THREE  MONTHS ENDED
                                                  -------------------
                                                       MARCH 31
                                                   2002          2001
                                               -----------    -----------
<S>                                            <C>            <C>
Sales ......................................   $ 5,209,041    $ 4,923,661
Cost of goods sold .........................     3,375,720      3,132,874
                                               -----------    -----------
Gross profit ...............................     1,833,321      1,790,787
Selling, general and administrative expenses     1,919,061      1,848,562
                                               -----------    -----------
Operating loss .............................       (85,740)       (57,775)
Other expense, net .........................        (3,084)       (42,260)
Income tax benefit .........................        39,675         40,000
                                               -----------    -----------
Net loss ...................................   $   (49,149)   $   (60,035)
                                               ===========    ===========

Basic loss per common share ................   ($     0.01)   ($     0.01)

Weighted average shares outstanding ........     5,930,280      5,774,378

Diluted loss per common share ..............   ($     0.01)   ($     0.01)

Diluted shares outstanding .................     5,930,280      5,774,378
</TABLE>


             INTERIM CONDENSED STATEMENTS OF CASH FLOWS - UNAUDITED

<TABLE>
<CAPTION>
                                                            THREE MONTHS ENDED
                                                                MARCH 31
                                                                --------
                                                           2002          2001
                                                       -----------    -----------
<S>                                                    <C>            <C>
Cash flows from operations:
     Net cash from operations ......................   $   813,007    $   332,508

Cash flows from investing:
     Capital expenditures ..........................       (54,547)       (22,610)
                                                       -----------    -----------
     Net cash used for investing ...................       (54,547)       (22,610)

Cash flows from financing:
     Issuance of common stock and warrants .........         3,130         11,500
     Borrowings on bank line of credit, net ........                     (270,000)
     Payments on  note payable and capital leases ..       (63,577)       (46,128)
     Repurchase of common stock and warrants .......                       (6,500)
                                                       -----------    -----------
       Net cash used for financing .................       (60,447)      (311,128)
                                                       -----------    -----------

Net increase (decrease) in cash and cash equivalents       698,013         (1,230)

Cash and cash equivalents at beginning of period ...       807,115          1,230
                                                       -----------    -----------

Cash and cash equivalents at end of period .........   $ 1,505,128    $         0
                                                       ===========    ===========
</TABLE>


                                     Page 3
<PAGE>


FOOTNOTES TO CONDENSED FINANCIAL STATEMENTS

NOTE 1.  BASIS OF PRESENTATION

         The condensed balance sheets as of March 31, 2002, the condensed
statements of operations and cash flows for the three-month periods ended March
31, 2002 and 2001 have been prepared by the Company without audit. In the
opinion of management, all adjustments (which include only normal recurring
adjustments) necessary to present fairly the financial position, results of
operations, and cash flows at March 31, 2002 and 2001 have been made.

         Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted accounting
principles have been condensed or omitted. It is suggested these condensed
financial statements be read in conjunction with the financial statements and
notes thereto included in the Company's December 31, 2001 Form 10KSB. The
results of operations for the periods ended March 31, 2002 and 2001 are not
necessarily indicative of the operating results for the entire year.

NOTE 2.  NEW ACCOUNTING STANDARDS

         In June 2001, the Financial Accounting Standards Board (FASB) issued
Statement of Financial Accounting Standard (SFAS) No. 142, GOODWILL AND OTHER
INTANGIBLE ASSETS. This statement requires that goodwill and intangible assets
deemed to have an indefinite life not be amortized. Instead of amortizing
goodwill and intangible assets deemed to have an indefinite life, the statement
requires a test for impairment to be performed annually, or immediately if
conditions indicate that such an impairment could exist. We adopted the
provisions of SFAS No. 142 effective January 1, 2002, and as a result, will no
longer record goodwill amortization of approximately $132,000 per year. We are
currently in the process of completing the first step of the initial goodwill
impairment test required by SFAS No. 142 and will complete this assessment in
the second quarter of 2002.

         The following table provides the comparable effects of the adoption of
SFAS No. 142 for the quarters ended March 31, 2002 and March 31, 2001.

                                               THREE MONTHS ENDING
                                                    MARCH 31,
                                                2002          2001
                                             ----------    ----------

Reported net loss ........................   $  (49,149)   $  (60,035)
Add back goodwill amortization............                     33,000
                                             ----------    ----------
Adjusted net loss ........................   $  (49,149)   $  (27,035)
                                             ==========    ==========

Reported loss per share - basic ..........   $    (0.01)   $    (0.01)
Goodwill amortization
                                             ----------    ----------
Adjusted net loss per share - basic ......   $    (0.01)   $    (0.01)
                                             ==========    ==========

Reported loss per share - diluted ........   $    (0.01)   $    (0.01)
Goodwill amortization
                                             ----------    ----------
Adjusted net loss per share - diluted ....   $    (0.01)   $    (0.01)
                                             ==========    ==========


         In June 2001, the FASB issued SFAS No. 143, ACCOUNTING FOR ASSET
RETIREMENT OBLIGATIONS. SFAS No. 143 addresses financial accounting and
reporting for obligations associated with the retirement of tangible long-lived
assets and the associated asset retirement costs. SFAS No. 143 applies to legal
obligations associated with the retirement of long-lived assets that result from
the acquisition, construction, development, and/or the





                                     Page 4

<PAGE>

normal operation of a long-lived asset, except for certain obligations of
lessees. SFAS No. 143 amends SFAS No. 19, FINANCIAL ACCOUNTING AND REPORTING BY
OIL AND GAS PRODUCING COMPANIES. SFAS No. 143 is effective for the Company on
January 1, 2003. Management is currently assessing what impact, if any, SFAS No.
143 will have on the Company's financial position or results of operations.

         In August 2001, the FASB issued SFAS No. 144, ACCOUNTING FOR THE
IMPAIRMENT OR DISPOSAL OF LONG-LIVED ASSETS. SFAS No. 144 addresses financial
accounting and reporting for the impairment or disposal of long-lived assets and
supersedes SFAS No. 121, ACCOUNTING FOR THE IMPAIRMENT OF LONG-LIVED ASSETS AND
FOR LONG-LIVED ASSETS TO BE DISPOSED OF. SFAS No. 144 was effective for the
Company on January 1, 2002. The Company does not expect SFAS No. 144 to have a
material effect on the Company's financial position or results of operations.

NOTE 3.  INCOME PER COMMON SHARE

         Basic earnings per share is computed by dividing net income by the
weighted average number of shares of common stock outstanding during the year.
Diluted earnings per common share is similar to the computation of basic
earnings per share, except that the denominator is increased for the assumed
exercise of dilutive options using the treasury stock method. Stock options and
warrants of 295,350 for 2002 and 222,252 for 2001 were not used in the
calculation because their impact would have been anti-dilutive due to the net
loss incurred for those periods. The components of the earnings per share are as
follows:

                                                       THREE MONTHS ENDING
                                                             MARCH 31,
                                                         2002          2001
                                                       ---------    ----------

Weighted average common shares outstanding for
      Basic earnings per share                         5,930,280     5,774,378
Effect of dilutive securities:
      Stock Options and Warrants                              --            --
                                                       ---------    ----------
Shares used in diluted earnings per share              5,930,280     5,774,378
                                                       =========     =========

NOTE 4. LINE OF CREDIT

         At March 31, 2002, the Company has available a $2,750,000 bank
revolving note, secured by substantially all assets, that expires June 30, 2002.
Interest is computed on actual days elapsed, at an annual rate equal to the
prime rate as quoted by THE WALL STREET JOURNAL. At March 31, 2002 the interest
rate was 4.75%. The note is payable on demand. The terms of the note require the
Company to maintain certain financial ratios. The Company was in compliance with
all covenants as of March 31, 2002. The Company did not have any borrowings on
March 31, 2002.

NOTE 5.  INVENTORY

<TABLE>
<CAPTION>
           Inventories consisted of the following on:             MARCH 31, 2002      DECEMBER 31, 2001
<S>                                                                 <C>                  <C>
           Materials                                                $1,374,548           $1,972,910
           Work-in-process                                             406,308              481,465
           Finished goods, including demonstration units             1,824,563            1,282,142
                                                                    ----------           ----------
                                                                    $3,605,419           $3,736,517
                                                                    ==========           ==========
</TABLE>


                                     Page 5
<PAGE>

NOTE 6.  SEGMENT INFORMATION

         The Company classifies its businesses into two segments: Products
Division (VideoLabs), which designs, manufactures, and markets
collaboration-based peripherals; and Services Division (ACS), which specializes
in the design, installation, support, and service of multimedia systems.

         Information concerning the Company's operations by segment is presented
below.


<TABLE>
<CAPTION>
                                                  Products          Services
                                                  Division          Division         Corporate        Consolidated
THREE MONTHS ENDED MARCH 31, 2002:
<S>                                              <C>             <C>               <C>               <C>
          Sales                                  $  2,879,661    $   2,329,380                       $    5,209,041
          Cost of sales                             1,802,021        1,573,699                            3,375,720
                                                 ------------    -------------                       --------------
          Gross profit                              1,077,640          755,681                            1,833,321
          Operating expenses                          534,959          712,346     $     671,756          1,919,061
                                                 ------------    -------------     -------------     --------------
          Operating income (loss)                $    542,681    $      43,335     $    (671,756)    $      (85,740)
                                                 ============    =============     =============     ===============

          Depreciation and amortization          $      7,143    $      20,911     $      79,511     $      107,565
                                                 ============    =============     =============     ==============

THREE MONTHS ENDED MARCH 31, 2001:

          Sales                                  $  2,197,031    $   2,726,630                       $    4,923,661
          Cost of sales                             1,426,159        1,706,715                            3,132,874
                                                 ------------    -------------                       --------------
          Gross profit                                770,872        1,019,915                            1,790,787
          Operating expenses                          614,551          785,890     $     448,121          1,848,562
                                                 ------------    -------------     -------------     --------------
          Operating income (loss)                $    156,321    $     234,025     $    (448,121)    $      (57,775)
                                                 ============    =============     =============     ===============

          Depreciation and amortization          $      7,143    $      19,915     $     121,271     $      148,329
                                                 ============    =============     =============     ==============
</TABLE>


ITEM 2:  MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

         As provided under the Private Securities Reform Act of 1995, the
Company wishes to caution investors of the following factors which could affect
the Company's results of operations and cause such results to differ materially
from those anticipated in forward-looking statements made in this document or
elsewhere by or on behalf of the Company: sales projections, technology changes,
new competitors, reduced current cost for items in inventory, changes in
currency valuations, government regulations and ongoing litigation.

         Sales for the quarter ended March 31, 2002 were $5,209,041 compared to
$4,923,661 for the first quarter of 2001, an increase of 6%. This increase is
attributed to an increase in sales in the Company's products division,
VideoLabs. The Company's products division had an increase of 31%, while the
Company's services division, ACS had a decrease of 15% when compared to the
first quarter of 2001. Export sales of the products division increased 146% from
approximately $518,000 in the first quarter of 2001 to $1,272,000 in the first
quarter of 2002.

         Gross margins of the Company are determined by deducting from sales all
materials, labor, packaging, manuals and overhead costs which are directly
attributable to the cost of manufacture and shipment of the Company's products.
Commission costs related to the sales of products are not included in cost of
goods, but are included in selling expenses. The Company's gross margin on sales
during the first quarter of 2002 was



                                     Page 6

<PAGE>

$1,833,321 or 35% as compared to $1,790,787 or 36% for the first quarter of
2001. This gross margin decrease is a result of lower margin export sales. The
Company has a goal to maintain gross margins in the 40% range, but there is no
assurance that it will be able to do so.

         Selling, general and administrative expenses include all costs of the
Company except those related directly to the manufacture of products described
above and other income and expense items below. These expenses increased to
$1,919,061 in the first quarter of 2002 from $1,848,562 in the first quarter of
2001. This increase is attributable to the deal related expenses associated with
the pending merger of the Company and ClearOne Communications. There was
approximately $250,000 of deal related expenses incurred in the first quarter of
2002.

         Operating loss for the first quarter of 2002 was $85,740 compared to an
operating loss of $57,775 for the same period in 2001. This decrease in
operating income is a result of the above mentioned decrease in gross margin
combined with the increase in selling, general and administrative expenses.
Earnings before interest, taxes, depreciation, amortization and deal related
expenses were $267,050 for the period ending March 31, 2002.

         Other expenses for the first quarter consisted of interest expense on
the Company's note payable less interest income from notes receivable.

         Net loss for the first quarter of 2002 was $49,149 compared to a net
loss of $60,035 for the first quarter of 2001. During the first quarter of 2002
an income tax benefit of $39,675 was recognized compared to $40,000 for 2001 as
management believes that the loss will be used to offset future taxable income.

LIQUIDITY AND CAPITAL RESOURCES

         Net cash provided by operating activities totaled $813,007 for the
three months ended March 31, 2002 compared to $332,508 for the three months
ended March 31, 2001. This increase in cash provided by operating activities is
mainly attributed to the decrease of receivables and inventory and the increase
in accounts payable.

         Net cash used for investing activities totaled $54,547 for the three
months ended March 31, 2002 compared to cash used for investing activities of
$22,610 for the three months ended March 31, 2001.

         Net cash used for financing activities in the first quarter of 2002 was
$60,447 compared to $311,128 for the first quarter of 2001. This decrease in net
cash provided by financing activities is attributable to the pay down of the
line of credit and note payable in the prior period.

         During the first three months of 2002 certain option-holders exercised
a total of 2,000 options. The Company received a total of $3,130 in proceeds
from the exercise of these options.

         The board of directors of the Company approved in March 1997 a stock
buy back of 100,000 shares and in May 1998 a stock buy back of another 100,000
shares. In November 1998, the Company's Board of Directors approved a third
stock buy back of up to 1,000,000 shares of the Company's common stock. The
Company has repurchased approximately 400,000 shares of the Company's common
stock in private and public transactions under these authorizations and retired
all shares repurchased. Approximately 800,000 shares are available for
repurchase at March 31, 2002 under these authorizations. As part of the
Company's employee stock purchase plan, the Company has purchased approximately
50,000 shares of the Company's stock and is holding the shares as Treasury Stock
until the Company distributes the shares to employees.

         Working capital, which consists principally of cash, receivables and
inventories, was $5,891,607 at March 31, 2002 and $5,920,539 at December 31,
2001. The ratio of current assets to current liabilities was 3.0:1 at March 31,
2002 and 3.4:1 at December 31, 2001.


                                     Page 7


<PAGE>

                           PART II--OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS
None.

ITEM 2.  CHANGES IN SECURITIES
None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES
None.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None

ITEM 5.  OTHER INFORMATION
None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K
None


         In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                  E.MERGENT, INC.

Date:   May 15, 2002              By:    /s/  James Hansen
      ---------------                    -----------------
                                         James W. Hansen
                                         President, CEO, Treasurer and Chairman



                                     Page 8