<PAGE>   1


                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549




                                  FORM 10 - QSB

                                 CURRENT REPORT

         Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the Quarterly Period Ended September 30, 1999

                             WHITEHALL LIMITED, INC.
                    (F/K/A/ CAMBRIDGE UNIVERSAL CORPORATION)
                    ----------------------------------------
             (Exact name of Registrant as specified in its charter)


        Florida*                       33-24387                 84-1092599
        --------                       --------                 ----------
State of other jurisdic-             (Commission              (IRS Employer
 tion of incorporation               File Number)          Identification No.)


                               290 Cocoanut Avenue
                             Sarasota, Florida 34236
                             -----------------------
          (Address of principal executive offices, including zip code)


                                  941/954-1181
                                  ------------
              (Registrant's telephone number, including area code)




* initially formed under the laws of the State of Colorado













                                       -1-



<PAGE>   2


                             WHITEHALL LIMITED, INC.
                       FKA CAMBRIDGE UNIVERSAL CORPORATION



                    MANAGEMENT REPORT ON FINANCIAL STATEMENTS

                               September 30, 1999



TO ALL READERS OF THE ATTACHED FINANCIAL DATA:


The Company has prepared the attached Interim Consolidated Balance Sheet and
Interim Consolidated Statement of Stockholders Equity as of September 30, 1999,
and the Interim and Consolidated Statement of Income and Interim Consolidated
Statement of Cash Flows for the periods then ended.

The Management of the Company has reviewed the accompanying Financial Data and
the related Stockholder actions and Board of Directors Resolutions and to the
best of their knowledge and belief they fairly represent the Financial Condition
of the Company and Results of Operations for the periods presented.

It should be duly noted that all of the attached Financial Data hereinafter
presented is totally without the benefit of Independent Audit.





                                   WHITEHALL LIMITED, INC.



                                        IT'S MANAGEMENT













                                       -2-

<PAGE>   3

                             WHITEHALL LIMITED, INC.
                       FKA CAMBRIDGE UNIVERSAL CORPORATION


                      INDEX TO INTERIM FINANCIAL STATEMENTS
                               September 30, 1999

<TABLE>
<CAPTION>

DESCRIPTION                                                                PAGE
-----------                                                                ----
<S>                                                                        <C>

Management Report                                                            2



Balance Sheet                                                              5-6



Statement of Stockholders' Equity                                            7



Statements of Income                                                         8



Statement of Cash Flows                                                      9



Notes to Financial Statements                                            10-11



Signatures                                                                  12


</TABLE>










                                       -3-

<PAGE>   4

                             WHITEHALL LIMITED, INC.
                       FKA CAMBRIDGE UNIVERSAL CORPORATION









                          INTERIM FINANCIAL STATEMENTS


                               September 30, 1999


























                                                As Presented by Management



                                       -4-

<PAGE>   5

                             WHITEHALL LIMITED, INC.
                       FKA CAMBRIDGE UNIVERSAL CORPORATION
                       INTERIM CONSOLIDATED BALANCE SHEET
                            AS OF SEPTEMBER 30, 1999

<TABLE>
<S>                                                                                           <C>               <C>

                                                    ASSETS
CURRENT ASSETS
           Cash in Banks                                                                     $276,769
           Due from affiliated companies                                                      234,147
           Due from stockholder                                                               452,380
                                                                                     -----------------

                        TOTAL CURRENT ASSETS                                                                      $963,296


CONSTRUCTION COSTS IN PROGRESS
           Land and development costs                                                      $3,813,052
           Homes under construction and furnished models                                    4,079,220
                                                                                     -----------------

                        TOTAL CONSTRUCTION COSTS IN PROGRESS                                                    $7,892,272


PROPERTY AND EQUIPMENT
           Office land and building                                                          $866,241
           Office furniture and fixtures                                                       57,253
           Construction equipment                                                              78,880
           Vehicles                                                                            37,368
                                                                                     -----------------
                        TOTAL                                                               1,039,742
           Less: Depreciation                                                                  28,024
                                                                                     -----------------

                        TOTAL PROPERTY AND EQUIPMENT                                                            $1,011,718

OTHER ASSETS
           Deposit on lot                                                                     $50,000
           Prepaid model lease                                                                158,622
           Miscellaneous                                                                        2,260
                                                                                     -----------------

                        TOTAL OTHER ASSETS                                                                        $210,882
                                                                                                          -----------------

                        TOTAL ASSETS                                                                           $10,078,168
                                                                                                          =================

</TABLE>













                         The preceding management letter
                         and accounting notes to interim
                    financial statements are an integral part
                              of these statements.



                                       -5-

<PAGE>   6

                             WHITEHALL LIMITED, INC.
                       FKA CAMBRIDGE UNIVERSAL CORPORATION
                  INTERIM CONSOLIDATED BALANCE SHEETS (Page 2)
                            AS OF SEPTEMBER 30, 1999

<TABLE>
<S>                                                                                   <C>               <C>

Liabilities and Stockholders' Equity

Liabilities:
            Accounts Payable                                                         $    722,727
            Customers' Deposits                                                         1,014,577
            Due to Stockholders'                                                          133,982
            Due to Affiliates                                                             185,500
            Notes and Loans Payable:
                        Land and Development Loans                                        704,725
                        Construction Loans                                              1,979,337
                        Notes Payable                                                   1,275,096
                                                                                     ------------

                                     Total                                                                $  6,015,944
Note Payable to Stockholders                                                                                 2,096,393
                                                                                                          ------------
                                     Total Liabilities                                                       8,112,337

Stockholders' Equity:
            Preferred stock - $.10 Par Value, Authorized
               100,000,000 shares - none issued                                      $          0
            Common Stock - $.10 Par Value, Authorized
               500,000,000 shares; issued and outstanding 8,946,000 shares                894,600
            Paid In Capital in excess of Par Value                                      1,573,634
            Retained Earnings <Deficit>                                                  (502,403)
                                                                                     ------------

                                     Total Stockholders' Equity                                           $  1,965,831
                                                                                                          ------------

                                     Total Liabilities and Stockholders' Equity                           $ 10,078,168
                                                                                                          ============

</TABLE>







                         The preceding management letter
                         and accounting notes to interim
                    financial statements are an integral part
                               of these statements

                                       -6-

<PAGE>   7

                             WHITEHALL LIMITED, INC.
                       FKA CAMBRIDGE UNIVERSAL CORPORATION
             INTERIM CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
                  FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1999


<TABLE>
<CAPTION>
                                                           Number           Amount          Capital in        Retained
                                                         of Common          Common           Excess of        Earnings
                                                           Shares           Shares           Par Value        <Deficit>
                                                       ------------      ------------      ------------    --------------
<S>                                                    <C>               <C>               <C>             <C>

Balance - January 1, 1999                                 7,100,000      $    190,448                 0    $    (190,448)

   Less:    Reverse stock split:
            1 share issued for each
            3 shares exchanged                            4,733,333                 0                 0                0
                                                       ------------      ------------      ------------    -------------

Balance - After Reverse Stock Split                       2,366,667           190,448                 0         (190,448)

   Add:     Common Stock Issued to
            acquire Whitehall Homes,
            II, Inc., whereby it became a
            100% subsidiary of Whitehall
            Limited, Inc.                                 4,608,268                        $  2,277,786

            Common Stock issued to
            complete acquisition of
            Whitehall Homes II, Inc.                      1,971,065                                   0

            To set-up par value @.10
            per share                                            --           704,152          (704,152)
                                                       ------------      ------------      ------------    -------------

Balance - January 1, 1999                                 8,946,000      $    894,600      $  1,573,634    $    (190,448)


            Net Income <Loss> For The
               Three Months Ended,
                  March 31, 1999                                                                                 (27,499)
                  June 30, 1999                                                                                 (142,473)
                  September 30, 1999                                                                            (141,983)
                                                       -------------     ------------      -------------   -------------

Balance - September 30, 1999                              8,946,000      $    894,600      $  1,573,634    $    (502,403)
                                                       ============      ============      =============   =============

Net <Loss> Per Common Share:
                  March 31, 1999                                                                           $    (0.00307)
                  June 30, 1999                                                                            $    (0.01593)
                  September 30, 1999                                                                       $    (0.01587)
                                                                                                           -------------

                        Total Net <Loss> Per Common Share                                                       (0.03487)
                                                                                                           =============

</TABLE>







                         The preceding management letter
                         and accounting notes to interim
                    financial statements are an integral part
                               of these statements



                                      -7-

<PAGE>   8


                             WHITEHALL LIMITED, INC.
                       FKA CAMBRIDGE UNIVERSAL CORPORATION
                    INTERIM CONSOLIDATED STATEMENT OF INCOME
                  FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1999


<TABLE>
<S>                                                                                  <C>                  <C>

INCOME
           Sales of homes and lots                                                         $1,706,126
           Management fees                                                                    153,070
           Real estate commissions                                                             56,242
           Interest Income                                                                      2,974
           Other                                                                               66,156
                                                                                     -----------------

                        TOTAL INCOME                                                                            $1,984,568

COST OF HOMES AND LOTS SOLD                                                                                     $1,648,728
                                                                                                          -----------------

                        NET INCOME (BEFORE OPERATING EXPENSES)                                                    $335,840

OPERATING EXPENSES
           Selling and General                                                               $176,236
           Personnel                                                                          101,343
           Office                                                                              76,453
           Real estate commissions                                                             64,299
                                                                                     -----------------

                        TOTAL OPERATING EXPENSES                                                                  $418,331
                                                                                                          -----------------

                        NET (LOSS) (BEFORE INTEREST
                           AND DEPRECIATION                                                                       ($82,491)

OTHER EXPENSE
           Interest                                                                           $45,480
           Depreciation                                                                        14,012
                                                                                     -----------------

                        TOTAL OTHER EXPENSE                                                                        $59,492
                                                                                                          -----------------

                        NET (LOSS) FOR THE PERIOD                                                                ($141,983)
                                                                                                          =================

</TABLE>







                         The preceding management letter
                         and accounting notes to interim
                    financial statements are an integral part
                              of these statements.



                                      -8-

<PAGE>   9

                             WHITEHALL LIMITED, INC.
                       FKA CAMBRIDGE UNIVERSAL CORPORATION
                  INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS
                  FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1999


<TABLE>
<S>                                                                                   <C>

Cash Flows from Operating Activities:
   Net Income <Loss>                                                                  $        (144,983)
   Adjustments to reconcile net income <loss> to
      net cash provided by operating activities:
      Depreciation and Amortization                                                              14,012
      Increase/Decrease In:
            Land and Development Costs                                                          191,187
            Construction in Progress-Homes and Models                                          (224,898)
            Customers' Deposits                                                                 219,484
            Accounts Payable                                                                    126,315
            Property and Equipment                                                                    0
            Other Assets                                                                        (46,376)
            Due From/To Affiliates                                                             (145,262)
                                                                                        ----------------

                        Net Cash Provided (Used) By Operating Activities              $          (7,521)

Cash Flows From Investing and Financing Activities:
   Net <Decrease> in Joint Ventures                                                   $              (2)
   Net <Decrease> in Investment From Stockholder                                               (403,607)
                                                                                        ----------------

                        Net Cash Flows From Investing Activities                      $        (403,609)

Net Financing Activities:
   Land and Development Loans                                                         $        (155,675)
   Construction Loans                                                                            82,690
   Notes Payable                                                                                241,745
   Stockholders' Loans - Net                                                                   (242,966)
   Note Payable - Stockholders                                                                  403,607
                                                                                        ----------------

                        Net Cash Flows Provided By Financing Activities               $         329,401
                                                                                        ----------------

                        Net Cash Flows Provided By (Used) in investing
                           and Financing Activities                                             (74,208)
                                                                                        ----------------

                        Net <Decrease> In Cash                                                  (81,729)

                        Cash in Banks - July 1, 1999                                            358,498
                                                                                        ----------------

                        Cash in Banks - September 30, 1999                            $         276,769
                                                                                        ================

</TABLE>







                         The preceding management letter
                         and accounting notes to interim
                    financial statements are an integral part
                               of these statements


                                      -9-

<PAGE>   10


                             WHITEHALL LIMITED, INC.
                       FKA CAMBRIDGE UNIVERSAL CORPORATION
       NOTES TO THE INTERIM COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS
                        AS OF SEPTEMBER 30, 1998 AND 1999


NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
         AND LINE OF BUSINESS

CONSOLIDATION: The accompanying consolidated financial statements include the
accounts of The Company and its wholly-owned subsidiary WHITEHALL HOMES, II,
INC. after elimination of significant inter- company accounts and transactions.

         Significant accounting policies and line of business have not changed
from June 30, 1999.

NOTE II - DEBT

         The Company increased debt due to significant increase in building
operations, but substantially within its established lines of credit. All notes
payable are current.

NOTE III - INVESTMENTS

         As of December 31, 1998, the major stockholders of the Company
contributed a security investment account containing securities with an original
cost basis of $403,607, and a fair value in excess of $500,000 as represented by
management. Management has since decided these securities were not appropriate
as an asset of the Company and have offset this amount as a reduction of Notes
Payable -Stockholders.

NOTE IV - STOCKHOLDERS EQUITY

         Stockholders' meeting: on June 17, 1999 the Stockholders of the Company
approved the following resolutions, effective January 1, 1999:

    1.   To authorize the Board of Directors of the Company as presently
         constituted to take such action as is necessary to permit the Company
         to be domiciled and subject to the Florida Business Corporation Act
         (the "Florida Act"), which action is expected to involve action by the
         Board of Directors of the Company to qualify the Company as a foreign
         corporation authorized to do business in Florida and thereafter the
         adoption of the Florida Act pursuant to the provisions of the Florida
         Act.

    2.   To cause to be prepared and filed under the Florida Act and such
         statutes of Colorado as are still applicable



                                      -10-

<PAGE>   11

                             WHITEHALL LIMITED, INC.
                       FKA CAMBRIDGE UNIVERSAL CORPORATION
               NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
                        AS OF SEPTEMBER 30, 1998 AND 1999


         Amended and Restated Articles of Incorporation of the Company pursuant
         to which the name of the Company will be changed to WHITEHALL LIMITED,
         INC. and the outstanding Common Stock of the Company will be
         reclassified whereby each three Shares presently outstanding will
         become one outstanding Share. The number of authorized shares of Common
         Stock and Preferred Stock to be set forth in such Amended and Restated
         Articles shall remain the same.

    3.   To authorize the Board of Directors to initiate and consummate a
         business combination between the Company and a Florida corporate entity
         known as Whitehall Homes II, Inc. pursuant to which combination
         Whitehall Homes II, Inc. is expected to become a wholly-owned operating
         subsidiary of the Company and the former shareholders of Whitehall
         Homes II, Inc. will be issued Shares which will constitute, upon
         issuance thereof, of not more than 61% of shares then outstanding as
         adjusted for such issuance.

    4.   To ratify the adoption of new and successor Bylaws for the Company.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)  Exhibits

                 27        Financial Data Schedule. (for SEC use only)

         (b)  None.























                                      -11-

<PAGE>   12


                                   SIGNATURES





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


                                        WHITEHALL LIMITED, INC.
                                (FKA CAMBRIDGE UNIVERSAL CORPORATION)




Date         2/25/2000                  By: /s/ Ronald Mustari
    -------------------------------       ------------------------------------
                                                Ronald Mustari, President
                                                and Chief Executive Officer
























                                      -12-