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 March 31, 2002

[ ]  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 May 10,  2002,  the issuer had
outstanding 9,105,828 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. AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS

                                                      MARCH 31,       JUNE 30,
                                                        2002            2001
                                                     -----------    -----------
                                                     (Unaudited)
                                     ASSETS
Current Assets:
  Cash and cash equivalents                          $   441,871    $   177,586
  Accounts receivable - trade, net                       426,936        506,989
  Inventory                                              189,799        247,550
  Prepaid expenses and other current assets               38,685         42,871
                                                     -----------    -----------

    TOTAL CURRENT ASSETS                               1,097,291        974,996

PROPERTY AND EQUIPMENT, NET                              161,527        164,622
                                                     -----------    -----------

    TOTAL ASSETS                                     $ 1,258,818    $ 1,139,618
                                                     ===========    ===========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Current portion of long-term debt                  $   171,062    $   340,577
  Accounts payable                                       376,308        431,938
  Accrued liabilities                                    182,985        201,403
  Deferred revenue                                       205,192        157,249
                                                     -----------    -----------

    TOTAL CURRENT LIABILITIES                            935,547      1,131,167

LONG-TERM DEBT, LESS CURRENT PORTION                     750,902        487,865
                                                     -----------    -----------

    TOTAL LIABILITIES                                  1,686,449      1,619,032
                                                     -----------    -----------

COMMITMENTS:                                                  --             --

STOCKHOLDERS' EQUITY (DEFICIT):
  Common stock, $.005 par value, 50,000,000 shares
    authorized, 9,105,828 and 6,295,828 shares
    issued and outstanding                                45,529         31,479
  Contributed capital                                  6,052,120      5,503,970
  Accumulated deficit                                 (6,525,280)    (6,014,863)
                                                     -----------    -----------

    TOTAL STOCKHOLDERS' EQUITY                          (427,631)      (479,414)
                                                     -----------    -----------

    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY       $ 1,258,818    $ 1,139,618
                                                     ===========    ===========

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

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

<TABLE>
<CAPTION>
                                                THREE MONTHS ENDED            NINE MONTHS ENDED
                                                     MARCH 31,                    MARCH 31,
                                            --------------------------    --------------------------
                                                2002           2001           2002           2001
                                            -----------    -----------    -----------    -----------
<S>                                         <C>            <C>            <C>            <C>
Revenues:
   Product sales                            $   600,803    $   869,802    $ 1,904,758    $ 2,635,827
   Services revenue                             156,622        167,841        461,429        587,325
                                            -----------    -----------    -----------    -----------

     TOTAL REVENUES                             757,425      1,037,643      2,366,187      3,223,152
                                            -----------    -----------    -----------    -----------
COST OF REVENUES:
   Product                                      251,032        387,842        810,357      1,214,267
   Services                                     114,470        127,559        355,682        371,655
                                            -----------    -----------    -----------    -----------

     TOTAL COST OF REVENUES                     365,502        515,401      1,166,039      1,585,922
                                            -----------    -----------    -----------    -----------

GROSS PROFIT                                    391,923        522,242      1,200,148      1,637,230
                                            -----------    -----------    -----------    -----------
COSTS AND EXPENSES:
   Sales and marketing                          188,714        222,506        614,009        883,083
   Research and development                     189,645        276,930        516,827        973,889
   General and administrative                   139,725        349,275        517,170        877,746
   Impairment of asset                               --         83,080             --         83,080
                                            -----------    -----------    -----------    -----------

     TOTAL COSTS AND EXPENSES                   518,084        931,791      1,648,006      2,817,798
                                            -----------    -----------    -----------    -----------

NET LOSS FROM OPERATIONS                       (126,161)      (409,549)      (447,858)    (1,180,568)
                                            -----------    -----------    -----------    -----------
OTHER INCOME (EXPENSE):
   Interest expense                             (21,068)       (20,712)       (67,598)       (52,717)
   Other                                            933        (47,660)         1,991        (55,691)
   Interest income                                1,102          1,669          3,048         11,903
                                            -----------    -----------    -----------    -----------
                                                (19,033)       (66,703)       (62,559)       (96,505)
                                            -----------    -----------    -----------    -----------

NET LOSS                                    $  (145,194)   $  (476,252)   $  (510,417)   $(1,277,073)
                                            ===========    ===========    ===========    ===========

BASIC LOSS PER SHARE                        $     (0.02)   $     (0.08)   $     (0.08)   $     (0.20)
                                            ===========    ===========    ===========    ===========
WEIGHTED AVERAGE NUMBER OF
   SHARES OUTSTANDING                         7,706,661      6,295,828      6,759,240      6,253,322
                                            ===========    ===========    ===========    ===========
</TABLE>

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

                                       3
<PAGE>
                           VITRIX, INC. AND SUBSIDIARY
           CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
                      FOR THE YEAR ENDED JUNE 30, 2001 AND
             THE NINE MONTH PERIOD ENDED MARCH 31, 2002 (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)
Sale of common stock                                 2,475,000         12,375        482,625            --        495,000
Conversion of debt from a                              300,000          1,500         58,500            --         60,000
  related party
Issuance of common stock for services                   35,000            175          7,025            --          7,200
Net loss                                                    --             --             --      (510,417)      (510,417)
                                                   -----------    -----------    -----------   -----------    -----------
Balance at March 31, 2002                            9,105,828    $    45,529    $ 6,052,120   $(6,525,280)   $  (427,631)
                                                   ===========    ===========    ===========   ===========    ===========
</TABLE>

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

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


<TABLE>
<CAPTION>
                                                                         NINE MONTHS ENDED
                                                                             MARCH 31,
                                                                    --------------------------
                                                                        2002           2001
                                                                    -----------    -----------
<S>                                                                 <C>            <C>
Increase (Decrease) in Cash and Cash Equivalents:
 Cash flows from operating activities:
 Net Loss                                                           $  (510,417)   $(1,277,073)
 Adjustments to reconcile net loss to net
  cash used by operating activities:
   Depreciation                                                          61,699         69,276
   Common stock and stock options issued for services                     7,200         21,000
   Loss on disposal of fixed assets                                          --         62,739
   Impairment of asset                                                       --         83,080
   Contribution of related party accounts payable                            --        165,780
 Changes in Assets and Liabilities:
   Accounts receivable-trade                                             80,053       (141,985)
   Inventory                                                             57,751          5,588
   Prepaid expenses and other current assets                              4,186         24,638
   Accounts payable                                                     (55,630)       225,871
   Accounts payable - related party                                          --       (114,330)
   Accrued liabilities                                                  (18,418)        (5,717)
   Deferred revenue                                                      47,943        (18,216)
                                                                    -----------    -----------
     NET CASH USED BY OPERATING ACTIVITIES                             (325,633)      (899,349)
                                                                    -----------    -----------
 CASH FLOWS FROM INVESTING ACTIVITIES:
   Cash received from sale of fixed assets                                   --          2,810
   Purchase of property and equipment                                   (33,788)       (42,712)
                                                                    -----------    -----------
     NET CASH USED BY INVESTING ACTIVITIES                              (33,788)       (39,902)
                                                                    -----------    -----------
 CASH FLOWS FROM FINANCING ACTIVITIES:
   Repayment of capital leases                                          (20,309)       (20,494)
   Proceeds from debt                                                   560,000        429,991
   Proceeds from issuance of common stock                               495,000             --
   Repayment of debt                                                   (410,985)      (188,055)
   Proceeds from exercise of stock options and warrants                      --        132,943
                                                                    -----------    -----------
     NET CASH PROVIDED BY FINANCING ACTIVITIES                          623,706        354,385
                                                                    -----------    -----------

Net change in cash and cash equivalents                                 264,285       (584,866)

Cash and cash equivalents at beginning of period                        177,586        636,932
                                                                    -----------    -----------

Cash and cash equivalents at end of period                          $   441,871    $    52,066
                                                                    ===========    ===========
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
  Interest paid                                                     $    71,852    $    52,717
                                                                    ===========    ===========
  Income taxes paid                                                 $        --    $        --
                                                                    ===========    ===========
NONCASH INVESTING AND FINANCING ACTIVITIES:
  Assets aquired by entering into capital leases                    $    24,816    $        --
                                                                    ===========    ===========
  Conversion of related party notes and accrued
   interest to equity                                               $    60,000    $   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 nine month period  ended March 31,  2002,  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.

STOCKHOLDERS' EQUITY:

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 NINE MONTHS ENDED MARCH 31, 2002 AND MARCH 31, 2001

     REVENUES.  Revenue  for the nine month  period  ended  March 31,  2002 (the
"reporting  period"),  declined  27%  to  $2,366,187,  compared  to  revenue  of
$3,223,152  for the nine month  period  ended  March 31,  2001 (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 flat at 51%
in both the reporting and  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
21%  over  the  comparable  period  while  cost  of  services  revenue  remained
relatively flat as the costs consist primarily of fixed labor costs.

     EXPENSES. Total costs and expenses were $1,648,006,  or 70% of revenues, in
the  reporting  period,  compared  to  $2,817,798,  or 87% 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 $614,009, or 26% of revenues, in the
reporting period,  compared to $883,083,  or 27% of revenues,  in the comparable
period.  Research and development expenses were $516,827, or 22% of revenues, in
the  reporting  period,  compared  to  $973,889,  or  30%  of  revenues,  in the
comparable period. General and administrative  expenses were $517,170, or 22% of
revenues, in the reporting period,  compared to $877,746, or 27% of revenues, in
the comparable period.

COMPARISON OF THE THREE MONTHS ENDED MARCH 31, 2002 AND MARCH 31, 2001

     REVENUES.  Revenue  for the three  month  period  ended March 31, 2002 (the
"reporting period"), declined 27% to $757,425, compared to revenue of $1,037,643
for the three month period ended March 31, 2001 (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 increased to 52% in
the reporting period,  compared to 50% in the comparable period. The Company was
able to increase  the gross  profit on product  sales by 3% over the  comparable
period and increase the gross profit on services  revenue 3% over the comparable
period.

     EXPENSES.  Total costs and expenses were $518,084,  or 68% of revenues,  in
the  reporting  period,  compared  to  $931,791,  or  90%  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 $188,714, or 25% of revenues, in the
reporting period,  compared to $222,506,  or 21% of revenues,  in the comparable
period.  Research and development expenses were $189,645, or 25% of revenues, in
the  reporting  period,  compared  to  $276,930,  or  27%  of  revenues,  in the
comparable period. General and administrative  expenses were $139,725, or 18% of

                                       7
<PAGE>
revenues, in the reporting period,  compared to $349,275, or 34% of revenues, in
the comparable period.

LIQUIDITY AND CAPITAL RESOURCES

     At March 31, 2002 the Company had working capital of $161,744,  compared to
$10,259 at March 31, 2001. Cash and cash  equivalents at those dates amounted to
$441,871 and $52,066, respectively.

     OPERATIONS.  Net cash  used by  operations  decreased  to  $325,633  in the
reporting  period,  compared to net cash used by  operations  of $899,349 in the
comparable  period.  The net  cash  used in the  current  period  was  primarily
attributable  to the  net  loss  and a  decrease  in  accounts  payable  and was
partially  offset by  decreases  in accounts  receivable  and  inventory  and an
increase in deferred  revenue.  The Company was able to reduce its net cash used
by operations by $573,716 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 $33,788
to  purchase  property  and  equipment,  compared  to  $39,902 of  property  and
equipment purchases in the comparable period.

     FINANCING  ACTIVITIES.  Net cash provided by financing activities increased
to  $623,706 in the  reporting  period,  compared to $354,385 in the  comparable
period.  The  $269,321  increase  was  primarily  due to the Company  raising of
$495,000 through the issuance of common stock in the reporting period.

     As of May 10, 2002, the Company  believes that its current working capital,
its line of  credit  agreement,  and its 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.

                                       8
<PAGE>
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.

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.

                                       9
<PAGE>
                           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 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

     On February 8, 2002 the Company  completed a private  placement of $555,000
in shares of the Company's  common stock. A total of 2,775,000  shares of common
stock were  issued at a purchase  price of $0.20 per  share.  Proceeds  from the
private placement  included  conversion of $60,000 of indebtedness and cash. The
funds received from the private placement will be used to increase the Company's
sales and marketing presence and for working capital purposes.  The common stock
issued in the private placement was issued in reliance on the exemption provided
under Section 4(2) of the Securities  Act of 1933, as amended,  and Regulation D
thereunder.

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 March 31, 2002.

                                       10
<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: May 14, 2002                     By  /s/ Craig J. Smith
                                            ------------------------------------
                                            Craig J. Smith
                                            Chief Financial Officer
                                            (Principal Accounting Officer)

                                       11