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

                                   FORM 10-QSB

[X]  Quarterly report pursuant to Section 13 or 15(d) of the Securities
     Exchange Act of 1934

     For the quarterly period ended December 31, 2001

[ ]  Transition report pursuant to Section 13 or 15(d) of the Securities
     Exchange Act of 1934

     For the transition period from _______________ to _______________


                         Commission File number 33-58694


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

            Nevada                                               13-3465289
(State or other jurisdiction of                               (I.R.S. Employer
 incorporation of organization)                              Identification No.)


              51 West Third Street, Suite 310, Tempe, Arizona 85281
                    (Address of principal executive offices)


                                 (480) 967-5800
                           (Issuer's telephone number)


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

Check  whether  the issuer:  (1) has 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 [ ]

State the number of shares outstanding of each of the issuer's classes of common
equity,  as of the latest  practicable date: At February 7, 2002, the issuer had
outstanding 6,295,828 shares of Common Stock, par value $.005 per share.

Transitional Small Business Disclosure Format: Yes [ ]  No [X]
<PAGE>
                         PART I - FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS

                                  VITRIX, INC.
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                             DECEMBER 31,     JUNE 30,
                                                                2001            2001
                                                             -----------    -----------
                                                             (Unaudited)
<S>                                                          <C>            <C>
                                     ASSETS
Current Assets:
  Cash and cash equivalents                                  $   166,224    $   177,586
  Accounts receivable - trade, net                               378,664        506,989
  Inventory                                                      191,886        247,550
  Prepaid expenses and other current assets                       46,840         42,871
                                                             -----------    -----------
     TOTAL CURRENT ASSETS                                        783,614        974,996

PROPERTY AND EQUIPMENT, NET                                      176,804        164,622
                                                             -----------    -----------
     TOTAL ASSETS                                            $   960,418    $ 1,139,618
                                                             ===========    ===========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Current portion of long-term debt                          $   188,336    $   340,577
  Accounts payable                                               476,090        431,938
  Accrued liabilities                                            165,463        201,403
  Deferred revenue                                               180,594        157,249
                                                             -----------    -----------
     TOTAL CURRENT LIABILITIES                                 1,010,483      1,131,167

LONG-TERM DEBT, LESS CURRENT PORTION                             794,572        487,865
                                                             -----------    -----------
     TOTAL LIABILITIES                                         1,805,055      1,619,032
                                                             -----------    -----------

COMMITMENTS:                                                          --             --

STOCKHOLDERS' EQUITY (DEFICIT):
  Common stock, $.005 par value, 50,000,000
    shares authorized, 6,295,828 shares
    issued and outstanding                                        31,479         31,479
  Contributed capital                                          5,503,970      5,503,970
  Accumulated deficit                                         (6,380,086)    (6,014,863)
                                                             -----------    -----------
     TOTAL STOCKHOLDERS' EQUITY                                 (844,637)      (479,414)
                                                             -----------    -----------
     TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY              $   960,418    $ 1,139,618
                                                             ===========    ===========
</TABLE>

                  The Accompanying Notes are an Integral Part
                    of the Consolidated Financial Statements

                                       2
<PAGE>
                                  VITRIX, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                    THREE MONTHS ENDED             SIX MONTHS ENDED
                                       DECEMBER 31,                  DECEMBER 31,
                                    2001           2000           2001           2000
                                -----------    -----------    -----------    -----------
<S>                             <C>            <C>            <C>            <C>
Revenues:
  Product sales                 $   625,897    $ 1,082,381    $ 1,303,955    $ 1,766,025
  Services revenue                  163,769        264,770        304,807        419,484
                                -----------    -----------    -----------    -----------
     TOTAL REVENUES                 789,666      1,347,151      1,608,762      2,185,509
                                -----------    -----------    -----------    -----------
COST OF REVENUES:
  Product                           272,268        516,111        559,325        826,425
  Services                          112,740        112,133        241,212        244,096
                                -----------    -----------    -----------    -----------
     TOTAL COST OF REVENUES         385,008        628,244        800,537      1,070,521
                                -----------    -----------    -----------    -----------
GROSS PROFIT                        404,658        718,907        808,225      1,114,988
                                -----------    -----------    -----------    -----------
COSTS AND EXPENSES:
  Sales and marketing               202,834        326,268        425,295        660,577
  Research and development          142,661        312,978        327,182        696,959
  General and administrative        186,640        289,702        377,445        528,471
                                -----------    -----------    -----------    -----------
     TOTAL COSTS AND EXPENSES       532,135        928,948      1,129,922      1,886,007
                                -----------    -----------    -----------    -----------
NET LOSS FROM OPERATIONS           (127,477)      (210,041)      (321,697)      (771,019)
                                -----------    -----------    -----------    -----------
OTHER INCOME (EXPENSE):
  Interest expense                  (19,061)       (13,088)       (46,530)       (32,005)
  Other                                 725        (14,448)         1,058         (8,031)
  Interest income                       565          2,614          1,946         10,234
                                -----------    -----------    -----------    -----------
                                    (17,771)       (24,922)       (43,526)       (29,802)
                                -----------    -----------    -----------    -----------
NET LOSS                        $  (145,248)   $  (234,963)   $  (365,223)   $  (800,821)
                                ===========    ===========    ===========    ===========
BASIC LOSS PER SHARE            $     (0.02)   $     (0.04)   $     (0.06)   $     (0.13)
                                ===========    ===========    ===========    ===========
WEIGHTED AVERAGE NUMBER OF
  SHARES OUTSTANDING              6,295,828      6,265,537      6,295,828      6,232,532
                                ===========    ===========    ===========    ===========
</TABLE>

                   The Accompanying Notes are an Integral Part
                    of the Consolidated Financial Statements

                                       3
<PAGE>
                                  VITRIX, INC.
           CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
                      FOR THE YEAR ENDED JUNE 30, 2001 AND
            THE SIX MONTH PERIOD ENDED DECEMBER 31, 2001 (Unaudited)

<TABLE>
<CAPTION>
                                           COMMON STOCK
                                    --------------------------    CONTRIBUTED   ACCUMULATED
                                       SHARES        AMOUNT         CAPITAL       DEFICIT         TOTAL
                                    -----------    -----------    -----------   -----------    -----------
<S>                                 <C>            <C>            <C>           <C>            <C>
Balance at June 30, 2000             33,656,132    $   168,281    $ 4,518,145   $(4,449,353)   $   237,073
Exercise of stock options                97,072            484         10,193            --         10,677
Exercise of warrants                    873,850          4,370        117,896            --        122,266
Issuance of warrants for services            --             --         21,000            --         21,000
Contribution of debt from a
  related party                              --             --        695,080            --        695,080
1-for-10 reverse stock split        (28,331,226)      (141,656)       141,656            --             --
Net loss                                     --             --             --    (1,565,510)    (1,565,510)
                                    -----------    -----------    -----------   -----------    -----------
Balance at June 30, 2001              6,295,828         31,479      5,503,970    (6,014,863)      (479,414)
Net loss                                     --             --             --      (365,223)      (365,223)
                                    -----------    -----------    -----------   -----------    -----------
Balance at December 31, 2001          6,295,828    $    31,479    $ 5,503,970   $(6,380,086)   $  (844,637)
                                    ===========    ===========    ===========   ===========    ===========
</TABLE>

                   The Accompanying Notes are an Integral Part
                    of the Consolidated Financial Statements

                                       4
<PAGE>
                                  VITRIX, INC.
                CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

<TABLE>
<CAPTION>
                                                              SIX MONTHS ENDED
                                                                 DECEMBER 31,
                                                           ----------------------
                                                              2001         2000
                                                           ---------    ---------
<S>                                                        <C>          <C>
Increase (Decrease) in Cash and Cash Equivalents:
  Cash flows from operating activities:
  Net Loss                                                 $(365,223)   $(800,821)
  Adjustments to reconcile net loss to net
    cash used by operating activities:
    Depreciation                                              41,611       48,024
    Stock options and warrants issued for services                --        9,000
    Loss on disposal of assets                                    --       14,506
    Contribution of related party accounts payable                --      165,780
  Changes in Assets and Liabilities:
    Accounts receivable-trade                                128,325     (252,127)
    Inventory                                                 55,664      (26,977)
    Prepaid expenses and other current assets                 (3,969)      26,026
    Accounts payable                                          44,152      144,498
    Accounts payable - related party                              --     (131,483)
    Accrued liabilities                                      (35,940)      17,508
    Deferred revenue                                          23,345        3,765
                                                           ---------    ---------
      NET CASH USED BY OPERATING ACTIVITIES                 (112,035)    (782,301)
                                                           ---------    ---------
  CASH FLOWS FROM INVESTING ACTIVITIES:
    Cash received from sale of fixed assets                       --        2,411
    Purchase of property and equipment                       (28,977)     (16,878)
                                                           ---------    ---------
      NET CASH USED BY INVESTING ACTIVITIES                  (28,977)     (14,467)
                                                           ---------    ---------
  CASH FLOWS FROM FINANCING ACTIVITIES:
    Repayment of capital leases                              (13,921)     (13,044)
    Proceeds from debt                                       530,000      184,991
    Repayment of debt                                       (386,429)          --
    Proceeds from exercise of stock options and warrants          --      132,943
                                                           ---------    ---------
      NET CASH PROVIDED BY FINANCING ACTIVITIES              129,650      304,890
                                                           ---------    ---------
Net change in cash and cash equivalents                      (11,362)    (491,878)

Cash and cash equivalents at beginning of period             177,586      636,932
                                                           ---------    ---------
Cash and cash equivalents at end of period                 $ 166,224    $ 145,054
                                                           =========    =========
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
  Interest paid                                            $  54,572    $  32,005
                                                           =========    =========
  Income taxes paid                                        $      --    $      --
                                                           =========    =========
NONCASH INVESTING AND FINANCING ACTIVITIES:
  Assets acquired by entering into capital leases          $  24,816    $      --
                                                           =========    =========
  Conversion of related party notes and accrued
    interest to equity                                     $      --    $ 529,300
                                                           =========    =========
</TABLE>

                   The Accompanying Notes are an Integral Part
                    of the Consolidated Financial Statements

                                       5
<PAGE>
                           VITRIX, INC. AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION AND INTERIM CONSOLIDATED FINANCIAL STATEMENTS

The  accompanying   consolidated   financial  statements  of  Vitrix,  Inc.  and
subsidiary  ("Vitrix" or the  "Company")  have been prepared in accordance  with
generally accepted  accounting  principles  ("GAAP"),  pursuant to the rules and
regulations  of the  Securities  and  Exchange  Commission,  and are  unaudited.
Accordingly,  they do not include all the information and footnotes  required by
GAAP for  complete  financial  statements.  In the  opinion of  management,  all
adjustments  (which include only normal recurring  adjustments)  necessary for a
fair  presentation  of the results for the interim  periods  presented have been
made.  The results for the six month period ended  December 31, 2001, may not be
indicative of the results for the entire year. These financial statements should
be read in conjunction  with the Company's  Annual Report on Form 10-KSB for the
fiscal year ended June 30, 2001.

LOSS PER SHARE:

Basic loss per share of common  stock was  computed by dividing  the net loss by
the weighted average number of shares outstanding of common stock.

Diluted  earnings per share are computed based on the weighted average number of
shares of common stock and dilutive  securities  outstanding  during the period.
Dilutive  securities are options and warrants that are freely  exercisable  into
common stock at less than the prevailing market price.  Dilutive  securities are
not  included in the  weighted  average  number of shares when  inclusion  would
increase the earnings per share or decrease the loss per share.

LONG-TERM DEBT:

On November 2, 2001 the Company obtained a $200,000  revolving line of credit at
10% interest  with a  significant  shareholder.  The Company is required to make
monthly  interest  payments with the principal due in full on December 31, 2002.
The line of credit is collateralized  by all assets of the Company.  The Company
intends to use the line of credit to fund working capital needs.

SUBSEQUENT EVENT:

On  February 8, 2002 the Company  completed a private  placement  of $555,000 of
common  stock  through the  issuance of 2,775,000  shares of common  stock.  The
proceeds consisted of a $60,000 conversion of debt, with the balance in the form
of cash.  The  Company  intends  to use the  funds to  increase  its  sales  and
marketing presence and to fund operations.

                                       6
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

COMPARISON OF THE SIX MONTHS ENDED DECEMBER 31, 2001 AND DECEMBER 31, 2000

     REVENUES.  Revenue for the six month  period  ended  December 31, 2001 (the
"reporting  period"),  declined  26%  to  $1,608,762,  compared  to  revenue  of
$2,185,509  for the six month  period ended  December 31, 2000 (the  "comparable
period").  The  Company  believes  this  decline was  principally  the result of
customers postponing planned purchases for the Company's solutions.

     GROSS PROFIT.  Gross profit as a percentage of revenues remained relatively
flat at 50% in the reporting period,  compared to 51% in the comparable  period.
The Company was able to increase  the gross  profit on product  sales by 4% over
the  comparable  period but the  increase  was offset by a decrease in the gross
profit  percentage  on  services  revenue.  Gross  profit  on  services  revenue
decreased as service revenue decreased 27% over the comparable period while cost
of services revenue remained  relatively flat as the costs consists primarily of
fixed labor costs.

     EXPENSES. Total costs and expenses were $1,129,922,  or 70% of revenues, in
the  reporting  period,  compared  to  $1,886,007,  or 86% of  revenues,  in the
comparable  period.  The decrease in costs and expenses in the current period is
primarily due to decreased labor and overhead  costs.  Following the merger with
Time America, Inc. on March 28, 2001 the Company was able to eliminate redundant
expenses. Sales and marketing expenses were $425,295, or 26% of revenues, in the
reporting period,  compared to $660,577,  or 30% of revenues,  in the comparable
period.  Research and development expenses were $327,182, or 20% of revenues, in
the  reporting  period,  compared  to  $696,959,  or  32%  of  revenues,  in the
comparable period. General and administrative  expenses were $377,445, or 24% of
revenues, in the reporting period,  compared to $528,471, or 24% of revenues, in
the comparable period.

COMPARISON OF THE THREE MONTHS ENDED DECEMBER 31, 2001 AND DECEMBER 31, 2000

     REVENUES.  Revenue for the three month period ended  December 31, 2001 (the
"reporting period"), declined 41% to $789,666, compared to revenue of $1,347,151
for the three month period ended  December 31, 2000 (the  "comparable  period").
The Company  believes  this  decline  was  principally  the result of  customers
postponing planned purchases for the Company's solutions.

     GROSS PROFIT.  Gross profit as a percentage of revenues decreased to 51% in
the reporting period,  compared to 53% in the comparable period. The Company was
able to increase  the gross  profit on product  sales by 4% over the  comparable
period but this increase was offset by a decrease in the gross profit percentage
on services  revenue.  Gross  profit on services  revenue  decreased  as service
revenue  decreased 38% over the comparable period while cost of services revenue
remained relatively flat as the costs consists primarily of fixed labor costs.

     EXPENSES.  Total costs and expenses were $532,135,  or 67% of revenues,  in
the  reporting  period,  compared  to  $928,948,  or  69%  of  revenues,  in the
comparable  period.  The decrease in costs and expenses in the current period is
primarily due to decreased labor and overhead  costs.  Following the merger with
Time America, Inc. on March 28, 2001 the Company was able to eliminate redundant
expenses. Sales and marketing expenses were $202,834, or 26% of revenues, in the
reporting period,  compared to  $326,268, or 24%  of revenues, in the comparable

                                       7
<PAGE>
period.  Research and development expenses were $142,661, or 18% of revenues, in
the  reporting  period,  compared  to  $312,978,  or  23%  of  revenues,  in the
comparable period. General and administrative  expenses were $186,640, or 23% of
revenues, in the reporting period,  compared to $289,702, or 22% of revenues, in
the comparable period.

LIQUIDITY AND CAPITAL RESOURCES

     At December 31, 2001 the Company had a working capital deficit of $226,869,
compared to $25,553 at December 31,  2000.  Cash and cash  equivalents  at those
dates amounted to $166,224 and $145,054, respectively.

     OPERATIONS.  Net cash  used by  operations  decreased  to  $112,035  in the
reporting  period,  compared to net cash used by  operations  of $782,301 in the
comparable  period.  The net  cash  used in the  current  period  was  primarily
attributable  to the net loss and was partially  offset by decreases in accounts
receivable  and inventory and in increase in accounts  payable.  The Company was
able to reduce its net cash used by operations by $670,266 in the current period
primarily due to the decrease in the net loss in the current period.

     INVESTMENT  ACTIVITIES.  For the reporting period, the Company used $28,977
to  purchase  property  and  equipment,  compared  to  $16,878 of  property  and
equipment purchases in the comparable period.

     FINANCING  ACTIVITIES.  Net cash provided by financing activities decreased
to  $129,650 in the  reporting  period,  compared to $304,890 in the  comparable
period.  The decrease was primarily due to the Company raising  $132,943 through
the exercise of common stock options and warrants in the comparable period.

     As of February  11, 2002,  the Company  believes  that its current  working
capital,  funds received from its February 2002 private  placement,  its line of
credit agreement, and funds generated from operations are sufficient to fund the
Company's operations for the next twelve months. The Company may, however,  seek
to obtain additional capital through a line of credit at a financial institution
or through  additional  debt or equity  offerings  during this time period.  The
raising of additional capital in public markets will primarily be dependent upon
prevailing  market  conditions  and the demand for the  Company's  products  and
services.  No  assurance  can be given  that the  Company  will be able to raise
additional  capital,  when needed or at all, or that such capital, if available,
will  be  on  acceptable  terms.  The  Company's  independent  certified  public
accountants  have issued a going concern opinion on the financial  statements of
the Company for the fiscal year ended June 30, 2001.

RECENT ACCOUNTING PRONOUNCEMENTS

SFAS 144,  Accounting for the Impairment or Disposal of Long-Lived  Assets,  was
issued in August 2001 and is effective for fiscal years beginning after December
15,  2001.  SFAS 144  provides  a  single,  comprehensive  accounting  model for
impairment and disposal of long-lived assets and discontinued  operations.  SFAS
144 will be adopted on its effective  date,  and the adoption is not expected to
result in any material effects on the Corporation's financial statements.

                                       8
<PAGE>
FORWARD-LOOKING INFORMATION

     The statements  contained in this Quarterly  Report on Form 10-QSB that are
not historical fact are  forward-looking  statements (as such term is defined in
the Private Securities  Litigation Reform Act of 1995) and information which the
Company  believes are within the meaning of Section 27A of the Securities Act of
1933,  as amended,  and Section 21E of the  Securities  Exchange Act of 1934, as
amended.  The forward-looking  statements  contained herein are based on current
expectations that involve a number of risks and uncertainties.  These statements
can be identified by the use of forward-looking  terminology such as "believes,"
"expects," "may," "will," "should," or "anticipates," or the negative thereof or
other  variations  thereon  or  comparable  terminology,  or by  discussions  of
strategy that involve risks and uncertainties. The Company wishes to caution the
reader that these  forward-looking  statements that are not historical facts are
only predictions.  No assurances can be given that the future results indicated,
whether expressed or implied,  will be achieved.  While sometimes presented with
numerical  specificity,  these projections and other forward-looking  statements
are based upon a variety of assumptions relating to the business of the Company,
which,  although  considered  reasonable  by the  Company,  may not be realized.
Because  of the  number  and  range  of  assumptions  underlying  the  Company's
projections  and  forward-looking  statements,  many of  which  are  subject  to
significant  uncertainties  and  contingencies  that are beyond  the  reasonable
control of the Company, some of the assumptions inevitably will not materialize,
and  unanticipated  events and circumstances may occur subsequent to the date of
this report. These forward-looking  statements are based on current expectations
and the Company assumes no obligation to update this information. Therefore, the
actual  experience  of the Company and the  results  achieved  during the period
covered by any particular  projections or forward-looking  statements may differ
substantially from those projected.  Consequently,  the inclusion of projections
and other forward-looking  statements should not be regarded as a representation
by the Company or any other person that these estimates and projections  will be
realized, and actual results may vary materially. There can be no assurance that
any of these  expectations  will be realized or that any of the  forward-looking
statements contained herein will prove to be accurate.

                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

     The Company is from time to time involved in legal proceedings arising from
the normal course of business. As of the date of this report, the Company is not
currently involved in any legal proceedings.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

     (a)  No exhibits are filed herewith pursuant to Regulation S-B.

     (b)  Reports on Form 8-K

               No  reports  were  filed on Form 8-K  during  the  quarter  ended
          December 31, 2001.

                                       9
<PAGE>
                                   SIGNATURES


     In accordance with the requirements of the Securities Exchange Act of 1934,
the registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

                                                 VITRIX, INC.


Dated: February 14, 2002                         By /s/ Craig J. Smith
                                                    ----------------------------
                                                    Craig J. Smith
                                                    Chief Financial Officer

                                       10