<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)

   [X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934
        For the quarterly period ended September 30, 2001

   [_]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
        For the transition period from ____________ to _______________

                       Commission file number: 33-11059-A

                      BBJ ENVIRONMENTAL TECHNOLOGIES, INC.
--------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in it charter)

                  Nevada                             13-3476854
--------------------------------------------------------------------------------
     (State or other jurisdiction of                (IRS Employer
      incorporation or organization)              Identification No.)

              6802 Citicorp Blvd., Suite 500, Tampa, Florida 33619
--------------------------------------------------------------------------------
                    (Address of principal executive offices)

                                 (813) 622-8550
                           ---------------------------
                           (issuer's telephone number)

                                 Not Applicable
--------------------------------------------------------------------------------
              (Former name, former address and former fiscal year,
                         if changed since last report)

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 such shorter
period that the issuer 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 ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the issuer filed all documents and reports required to be filed by
Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities
under a plan confirmed by a court. Yes [_] No [_]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: As of November 8, 2001, there were
20,996,578 shares of common stock issued and outstanding.

Transitional Small Business Disclosure Format (Check one):  Yes [_]  No [X]
<PAGE>

                      BBJ ENVIRONMENTAL TECHNOLOGIES, INC.
                                      INDEX


PART  I.      FINANCIAL  INFORMATION                                        Page
                                                                            ----

 Item 1.  Financial Statements

          Consolidated Balance Sheets as of September 30, 2001
               (Unaudited) and December 31, 2000                             3

          Consolidated Statements of Operations   (Unaudited) for
               the Three and Nine Months ended September 30, 2001
               and September 30, 2000                                        4

          Consolidated Statements of Cash Flows (Unaudited) for the
               Nine Months ended September 30, 2001 and September
               30, 2000                                                     5-6

          Notes to Consolidated Financial Statements (Unaudited)            7-8

 Item 2.  Management's Discussion and Analysis of Financial
               Condition and Results of Operations                          9-10

PART  II.     OTHER  INFORMATION

 Item 1.  Legal Proceedings                                                  11

 Item 2.  Changes in Securities                                              11

 Item 3.  Defaults Upon Senior Securities                                    11

 Item 4.  Submission of Matters to a Vote of Security Holders                11

 Item 5.  Other Information                                                  11

 Item 6.  Exhibits and Reports on Form 8-K                                   11

SIGNATURE  PAGE                                                              12


                                       2
<PAGE>

               BBJ ENVIRONMENTAL TECHNOLOGIES, INC. AND SUBSIDIARY

                           CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
                                                               (Unaudited)
                                                               September 30,       Dec. 31,
                                                                   2001              2000
                                                               -------------     -----------
<S>                                                             <C>              <C>
ASSETS
Current assets:
     Cash                                                       $   428,283      $ 1,318,272
     Accounts receivable                                             68,880           28,578
     Inventory                                                       30,623           25,045
                                                                -----------      -----------
         Total current assets                                       527,786        1,371,895

Property and equipment, net                                          93,038          113,823
Security deposits                                                    14,614           14,614
                                                                -----------      -----------
                                                                $   635,438      $ 1,500,332
                                                                ===========      ===========

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
     Accounts payable and accrued expenses                      $    11,287      $    34,142
     Current portion of capital lease obligations                    21,664           21,664
                                                                -----------      -----------
                  Total current liabilities                          32,951           55,806
Capital lease obligations, less current portion                       1,575           15,261
                                                                -----------      -----------
                  Total liabilities                                  34,526           71,067
                                                                -----------      -----------

Stockholders' equity:
     Preferred stock, $1.00 par value; 5,000,000 shares
        authorized; none issued and  outstanding                       --               --
     Common stock, $.001 par value; 50,000,000 shares
        authorized; 18,192,578 and 17,592,578 shares issued
        and outstanding, respectively                                18,193           17,593
     Additional paid-in capital                                   4,147,167        3,927,767
     Accumulated deficit                                         (3,564,448)      (2,516,095)
                                                                -----------      -----------
         Net stockholders' equity                                   600,912        1,429,265
                                                                -----------      -----------
                                                                $   635,438      $ 1,500,332
                                                                ===========      ===========
</TABLE>

                             See accompanying notes.

                                       3
<PAGE>

               BBJ ENVIRONMENTAL TECHNOLOGIES, INC. AND SUBSIDIARY

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (Unaudited)

<TABLE>
<CAPTION>
                                        Three Months Ended Sept 30,         Nine Months Ended Sept 30,
                                          2001              2000              2001              2000
                                      ------------      ------------      ------------      ------------
<S>                                   <C>               <C>               <C>               <C>
Sales, net                            $    106,374      $     93,245      $    246,636      $    298,340
Cost of sales                               33,689            17,125            88,170            67,265
                                      ------------      ------------      ------------      ------------
         Gross margin                       72,685            76,120           158,466           231,075
                                      ------------      ------------      ------------      ------------
Operating Expenses:
     Sales and marketing                   222,476           210,866           712,945           489,155
     General and administrative            120,635           125,315           381,424           396,573
     Research and development               33,011            22,080           112,450            73,228
                                      ------------      ------------      ------------      ------------
         Total operating expenses          376,122           358,261         1,206,819           958,956
                                      ------------      ------------      ------------      ------------
Net loss                              $   (303,437)     $   (282,141)     $ (1,048,353)     $   (727,881)
                                      ============      ============      ============      ============

Net loss per share                    $      (0.02)     $      (0.02)     $      (0.06)     $      (0.06)
                                      ============      ============      ============      ============
Weighted Average Shares
     Outstanding                        18,192,578        14,045,666        17,927,000        12,497,000
                                      ============      ============      ============      ============
</TABLE>


                             See accompanying notes.


                                       4
<PAGE>

               BBJ ENVIRONMENTAL TECHNOLOGIES, INC. AND SUBSIDIARY

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                  Nine Months Ended Sept 30,
                                                                    2001             2000
                                                                -----------      -----------
<S>                                                             <C>              <C>
Cash flows from operating activities:
Net loss                                                        $(1,048,353)     $  (727,881)
Adjustments to reconcile net loss to net
     cash used in operating activities:
       Depreciation                                                  30,098           25,512
       Changes in current assets and liabilities:
         Accounts receivable                                        (40,302)           9,079
         Inventory                                                   (5,578)         (16,223)
         Accounts payable and accrued expenses                       22,855           27,879
                                                                -----------      -----------
                  Net cash used in operating activities          (1,086,990)        (681,634)
                                                                -----------      -----------

Cash flows from investing activities:
     Purchase of property and equipment                              (9,313)         (48,443)
     Security deposits                                                 --            (10,196)
                                                                -----------      -----------
                  Net cash used in investing activities              (9,313)         (58,639)
                                                                -----------      -----------

Cash flows from financing activities:
     Proceeds from bank loans                                          --             79,084
     Principal payments on bank loans and capital leases            (13,686)         (18,067)
     Proceeds from cash advances from stockholders                     --            275,790
     Net proceeds from issuance of common stock                     220,000          392,554
                                                                -----------      -----------
                  Net cash provided by financing activities         206,314          729,361
                                                                -----------      -----------
</TABLE>


                                       5
<PAGE>

               BBJ ENVIRONMENTAL TECHNOLOGIES, INC. AND SUBSIDIARY

                CONSOLIDATED STATEMENTS OF CASH FLOWS - Continued
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                     Nine Months Ended Sept 30,
                                                                       2001             2000
                                                                   -----------      -----------
<S>                                                                <C>              <C>
Net in cash                                                           (889,989)         (10,912)

Cash, beginning of period                                            1,318,272           19,189
                                                                   -----------      -----------

Cash, end of period                                                $   428,283      $     8,277
                                                                   ===========      ===========

Supplemental disclosures of cash flow information:

     Interest paid                                                 $     5,826      $     9,987

Supplemental disclosures of non-cash financing activities:

     Conversion of convertible preferred stock into 1,044,000
       shares of common stock                                             --            543,750
     Recapitalization transactions accounted for similar to
       reverse acquisition                                                --              1,535
     Conversion of cash advances from stockholders to
       convertible debenture                                              --            164,290
     Conversion of accrued interest and consulting services to
       convertible debenture                                              --              7,452

</TABLE>


                             See accompanying notes.


                                       6
<PAGE>

               BBJ ENVIRONMENTAL TECHNOLOGIES, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                               September 30, 2001
                                   (Unaudited)

NOTE A - Basis of Presentation

     The accompanying unaudited consolidated financial statements at September
30, 2001 include the accounts of BBJ Environmental Technologies, Inc. (the
"Company") and its subsidiary, BBJ Environmental Solutions, Inc. (acquired on
June 1, 2000); and have been prepared in accordance with generally accepted
accounting principles for interim financial information and with the
instructions to Form 10-QSB and reflect all adjustments which, in the opinion of
management, are necessary for a fair presentation of financial position as of
September 30, 2001 and results of operations for the three and nine months ended
September 30, 2001 and 2000. All adjustments are of a normal recurring nature.
The results of operations for interim periods are not necessarily indicative of
the results to be expected for a full year. For further information and a
current discussion of the Company's financial condition as of December 31, 2000,
references should be made to the audited consolidated financial statements and
footnotes thereto included in the Company's annual report on Form 10-KSB for the
year ended December 31, 2000, which was previously filed in March 2001. The
consolidated companies are collectively referred to herein as "BBJ" or the
"Company". All significant inter-company accounts and transactions have been
eliminated.

NOTE B - Organization and Description of Business

     BBJ Environmental Technologies, Inc., formerly known as Omega Development,
Inc., was a development stage enterprise formed under the laws of the State of
Nevada to evaluate, structure and complete a business combination in the form of
a merger with, or acquisition of, prospects consisting of private companies,
partnerships or sole proprietorships. The Company had no business operations and
no intention of engaging in active business prior to a business combination with
another enterprise. Prior to the reverse acquisition, the Company was a shell
company with no material assets, liabilities or operations.

     The Company is operating through its newly acquired subsidiary, BBJ
Environmental Solutions, Inc. BBJ Environmental Solutions was formed under the
laws of the State of Florida in August 1993. BBJ Environmental Solutions
develops, manufactures, and markets products and devices that control
contamination and air pollution in heating, ventilation, air-conditioning, and
refrigeration ("HVAC/R") systems in homes, offices, health care facilities,
schools, food processing plants, and public buildings. All references to "the
Company" include BBJ Environmental Technologies, Inc. and BBJ Environmental
Solutions, Inc. unless the context indicates otherwise.

NOTE C - Recapitalization

     On May 31, 2000, the Company's stockholders approved a reverse stock split
of one-for-three, which became effective on June 2, 2000. Contemporaneously, the
Company issued 12,410,666 post-split shares of its common stock in exchange for
all the issued and outstanding shares of capital stock of BBJ Environmental
Solutions in a recapitalization transaction accounted for similar to a reverse
acquisition ("Recapitalization"). All share and per share amounts in this Form
10-QSB have been adjusted to give retroactive effect to the aforementioned
reverse stock split of one-for-three and the issuance of the 12,410,666
post-split shares. No change in per share value or authorized number of shares
of capital stock occurred as a result of the reverse stock split. The Company
was formerly a non-operating public shell corporation with no significant assets
and was treated as the "acquired" company in the transaction, but remains the
surviving legal entity. Accordingly, the transaction was treated as an issuance
of stock by BBJ Environmental Solutions for the net monetary assets of the
Company, accompanied by a recapitalization.


                                       7
<PAGE>

Since this transaction is in substance a recapitalization of BBJ and not a
business combination, a valuation was not performed and no goodwill was
recorded. In connection with the Recapitalization, the Company's name was
changed to BBJ Environmental Technologies, Inc.

     The assets acquired by the Company include all the assets of BBJ
Environmental Solutions, which it utilizes in its operations. These include
primarily the following: accounts receivable, inventory, furnishings, and
equipment. The nature of the business in which those assets were used by BBJ
Environmental Solutions were for the sale of its EPA registered products. The
Company intends to continue to use such accounts receivable, inventory,
furnishings, and equipment.

NOTE D - Computation of Net Loss Per Common Share

     Loss per common share is computed by dividing the net loss by the weighted
average number of common shares outstanding during the year.


                                       8
<PAGE>

Item 2.  Management's Discussion and Analysis of Financial Condition and
         Results of Operations

Results of Operations

     During the three and nine months ended September 30, 2001, BBJ generated
revenues from product sales of $106,374 and $246,636, respectively, compared to
$93,245 and $298,340 for the three and nine months ended September 30, 2000,
respectively. The decrease for the nine months ended September 30, 2001 compared
to the same period in the previous year was due primarily to the current
slowdown in the economy, mild cooling season to date, and carry-over inventory
by HVAC/R distributors. In June 2001, the Company hired a Director of Sales as
well as a Divisional Manager for the residential market to initiate a change in
the Company's sales and marketing strategy to develop relationships with
manufacturer's representatives to expand product distribution and promotion
through HVAC/R wholesalers versus direct selling. In September 2001, the Company
hired two Business Development Managers to help sell and educate the need for
preventative maintenance in the food and healthcare industries. In addition, the
recent bio-terrorism anthrax attacks has also increased the public's awareness
of the importance of maintaining clean heating, ventilation and air conditioning
systems in order to not only improve indoor air quality but to prevent the
systems from becoming a breeding ground for bacteria, mold and fungi to
germinate and grow.

     Total operating expenses increased to $376,122 and $1,206,819 for the three
and nine months ended September 30, 2001, respectively, from $358,261 and
$958,956 for the three and nine months ended September 30, 2000, respectively.
The increases were due primarily to costs associated with the development of
product literature, creation of advertising and promotional materials,
consulting services and marketing and public relation expenses. For the three
and nine months ended September 30, 2001, the Company incurred a net loss of
$303,437 and $1,048,353, respectively, compared to a net loss of $282,141 and
$727,881 for the same periods in 2000. Operating expenses are expected to
increase significantly in future periods as we develop a sales and marketing
organization and promote our products to certain distribution channels to
increase sales in future periods.

     As a result of financing in November and December 2000, the Company began
developing its sales and marketing organization as well as its marketing,
advertising, and promotional materials. As the Company moves forward, management
believes BBJ can fully implement its business plan by doing the following:
increase sales through the development of new sales and marketing plan using
HVAC/R wholesale distributors in its residential division and strategic channel
partners in its commercial division, distribute its promotional materials, begin
advertising and public relations campaign, participate in trade
shows/organization memberships, and complete current research, product
development and studies currently underway.

Liquidity and Capital Resources
-------------------------------

     As of September 30, 2001, the Company had net stockholders' equity of
$600,912, accumulated deficit of $3,564,448 and working capital of $494,835.
During the nine months ended September 30, 2001 and September 30, 2000, the net
cash used in operating activities was $1,086,990 and $681,634, respectively.
This was primarily a result of losses incurred by the Company during those
periods. During the nine months ended September 30, 2001 and September 30, 2000,
net cash used in investing activities to purchase office, production and lab
equipment was $9,313 and $58,639, respectively. During the nine months ended
September 30, 2001 and September 30, 2000, net cash flows from financing
activities amounted to $206,314 and $729,361, respectively. For the nine months
ended September 30, 2001, cash was provided from the sale of capital stock
through the exercise of a stock option. During the nine months ended September
30, 2000, cash was provided from the sale of capital stock and cash advances
from stockholders partially offset by payments made to recapitalize the Company
and payments on bank loans and capital leases.


                                       9
<PAGE>

     In November and December 2000, the Company received $2,103,000 in cash
through subscription agreements of the Company's common stock from various
overseas banks. The Company sold 2,804,000 shares of the Company's common stock
at a cash purchase price of $.75 per share. The investors in this private
placement also received the right to name two members to the Company's board of
directors. Due to the event that the Company's revenues for the period November
1, 2000 through October 30, 2001 was less than $1,667,075, an additional
2,804,000 shares of the Company's common stock was issued so that the purchase
price was adjusted down to $.375 per share. The Company will likely require
additional financing commencing in January 2002 of an estimated $100,000 per
month beyond the Company's existing working capital and the funds anticipated to
be received from operations to finance the Company's liquidity and capital
resource needs until such time as the Company can generate sufficient revenues
to support its operations. While the Company is attempting to obtain financing,
no assurances can be given that such financing will be available in the amount
required or, if available, that it will be on terms satisfactory to the Company.

Certain Financing Transactions

     In November 2000, the Company sold through subscription agreements
2,804,000 restricted shares of its Common Stock at a purchase price of $.75 per
share to various overseas banks. The investors in this private placement also
received the right to name two members to the Company's Board of Directors. Due
to the event that the Company's revenues for the period November 1, 2000 through
October 30, 2001 was less than $1,667,075, the purchase price was adjusted down
to $.375 per share. On November 1, 2001, the Company made an original issuance
of 2,804,000 restricted shares to adjust downward the purchase price of the
shares to $.375 per share.


                                       10
<PAGE>

                           PART II - OTHER INFORMATION

Item 1.  Legal Proceedings:  None

Item 2.  Changes in Securities:   None, except as described under certain
                                  financing transactions

Item 3.  Defaults Upon Senior Securities:  None

Item 4.  Submissions of Matters to a Vote of Security Holders:  None

Item 5.  Other Information:  None

Item 6.  Exhibits and Reports on Form 8-K:

(a)      Exhibits

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

           3.1      Amended and Restated Articles of Incorporation as filed with
                    the Secretary of State of the State of Nevada on June 19,
                    2001 (incorporated by reference to Form 10-QSB for the
                    quarter ended June 30, 2001).

           3.2      Amendment to Certification of Designation of Series C
                    Convertible Preferred Stock as filed with the Secretary of
                    State of the State of Nevada on June 20, 2001. Filed to
                    remove the designation of the Series C preferred stock
                    (incorporated by reference to Form 10-QSB for the quarter
                    ended June 30, 2001).

           3.3      By-Laws of the Registrant (incorporated by reference to
                    Registration Statement on Form S-1, file Number 33-34200,
                    previously filed with the Commission).

          10.1      Facility lease and Amendment No.1 (incorporated by reference
                    to Form 10-KSB of the Registrant for the year ended December
                    31, 2000).

          11.1      Statement re: computation of per share earnings (see
                    Consolidated Statements of Operations and Note D in the
                    Notes to Consolidated Financial Statements).

          99.1      2000 Employee Benefit and Consulting Services Compensation
                    Plan (incorporated by reference to Form 10-QSB for the
                    quarter ended June 30, 2001).
----------

(b)      Reports on Form 8-K.

         No reports on Form 8-K were filed during the quarter ended September
         30, 2001


                                       12
<PAGE>

                                   SIGNATURES

     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.


                                       BBJ ENVIRONMENTAL TECHNOLOGIES, INC.


Dated:  November 8, 2001               /s/ Robert G. Baker
                                       -----------------------------------------
                                       Robert G. Baker, Chairman and CEO


                                       /s/ Jerry V. Schinella
                                       -----------------------------------------
                                       Jerry V. Schinella, President and COO


                                       12