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                       SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C.

                                   FORM 10-QSB

(Mark One)

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

                    For the period ended September 30, 2002.

                                       or

   [_]     Transition Report Pursuant to Section 13 OR 15(D) of the Securities
           Exchange Act of 1934

              For the transition period from ________ to ________.

                           Commission File No. 0-9614

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

           DELAWARE                                          88-0160741
 ------------------------------                       ------------------------
(State or other jurisdiction of                      (IRS Employer I.D. Number)
 incorporation or organization)

c/o Number One Corporation 50 Washington Street           Norwalk CT 06854
-----------------------------------------------           ----------------
   (Address of Principal Executive Offices)                  (Zip Code)

Registrant's telephone number, including area code: (203) 854-6711
                                                     -------------

              (Former name, former address and former fiscal year,
                      if changed since last report.) - N/A

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 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  [_]

There were 10,921,122 shares of the Registrant's common stock outstanding as of
November 8, 2002.

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<PAGE>

                               CADEMA CORPORATION
                                   FORM 10-QSB

                                      INDEX
PART 1. FINANCIAL INFORMATION

     Item 1 - Financial Statements
     Consolidated Balance Sheets - September 30, 2002 and
         December 31, 2001                                                   3

     Consolidated Statements of Operations -
        Nine months ended September 30, 2002 and
      September 30, 2001                                                     4

     Consolidated Statements of Operations -
         Three months ended September 30, 2002 and
       September 30, 2001                                                    5

     Consolidated Statements of Cash Flows -
         Nine months ended September 30, 2002 and
       September 30, 2001                                                    6

     Notes to Financial Statements                                           7

     Item 2 - Management's Discussion and Analysis of                        8
        Financial Condition and Results of Operations

     Item 4 - Controls and Procedures                                        9

PART II. OTHER INFORMATION

     Signatures                                                             10

     Certifications Pursuant to Section 302                                 11

     Exhibit 99                                                             12

     The accompanying condensed financial statements have been prepared by the
Company, without audit, and reflect all adjustments, which are, in the opinion
of management, necessary to present a fair statement of the results of
operations, financial position, and cash flows for the interim periods. The
statements have been prepared in accordance with the rules and regulations of
the Securities and Exchange Commission, but omit certain information and
footnote disclosures necessary to present the statements in accordance with
generally accepted accounting principles.

     These condensed financial statements should be read in conjunction with the
financial statements and notes thereto included in the Company's Annual Report
on Form 10-KSB for the year ended December 31, 2001. Management believes that
the disclosures are adequate to make the information presented herein not
misleading.

                                        2
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                        CADEMA CORPORATION AND SUBSIDIARY
                                 BALANCE SHEETS



     ASSETS                                        September 30,   December 31,
     ------                                            2002            2001
                                                   ------------    ------------
CURRENT ASSETS:

  Cash                                             $        584    $        666
  Trading securities (Cost $560,083 in
  2002 and $610,249 in 2001)                            274,762         285,288

  Other current assets                                     --             1,620
                                                   ------------    ------------
     TOTAL ASSETS                                  $    275,346    $    287,574
                                                   ============    ============

     LIABILITIES AND STOCKHOLDERS' DEFICIENCY
     ----------------------------------------

CURRENT LIABILITIES:

Accrued liabilities                                $     26,241    $     16,000
                                                   ------------    ------------
     TOTAL CURRENT LIABILITIES                           26,241          16,000

Accrued dividends on preferred stock                  1,648,407       1,523,681
                                                   ------------    ------------
     TOTAL LIABILITIES                                1,674,648       1,539,681
                                                   ------------    ------------
STOCKHOLDERS' DEFICIENCY
Series A 8% Cumulative Convertible
  Preferred Stock, par value $.01 per share
   authorized 5,000,000 shares; issued
   476,423 shares in 2002 and 2001                        4,764           4,764
Series B 8% Cumulative Convertible
  Preferred Stock, par value, $.01 per
  share, authorized, 150,000 shares,
  none issued                                              --              --
Common Stock, par value, $.01 per share;
  authorized 50,000,000 shares, issued
  10,951,122 shares in 2002 and 2001                    109,511         109,511
Additional paid-in capital                            7,765,836       7,765,836
Accumulated deficit                                  (9,183,043)     (9,035,848)
Less: Treasury stock at cost
  Common shares                                         (75,000)        (75,000)
  Preferred shares                                      (21,370)        (21,370)
                                                   ------------    ------------
     TOTAL STOCKHOLDERS' DEFICIENCY                  (1,399,302)     (1,252,107)
                                                   ------------    ------------
     TOTAL LIABILITIES AND
      STOCKHOLDERS' DEFICIENCY                     $    275,346    $    287,574
                                                   ============    ============

        The accompanying notes to the consolidated financial statements
                    are an integral part of these statements.

                                        3
<PAGE>

                        CADEMA CORPORATION AND SUBSIDIARY
                       STATEMENTS OF OPERATIONS-UNAUDITED
                     FOR THE NINE MONTHS ENDED SEPTEMBER 30,


                                                       2002            2001
                                                   ------------    ------------
REVENUE                                            $       --      $       --
COST OF GOODS SOLD                                         --              --
                                                   ------------    ------------
     GROSS PROFIT                                          --              --

OPERATING EXPENSES:
     General and administrative                          21,867          21,936
                                                   ------------    ------------
          Total operating expenses                       21,867          21,936
                                                   ------------    ------------
          Loss from operations                          (21,867)        (21,936)

OTHER INCOME (EXPENSE):
     Gain on sale of joint venture
       Interest                                            --           253,750
     Trading securities
     Transactions
       Realized losses                                   (1,906)        (18,088)
       Change in Unrealized
       Gains (losses)                                     1,275         (47,595)
     Dividend income                                         29             181
                                                   ------------    ------------
          Total other income (expense)                     (602)        188,248
                                                   ------------    ------------

INCOME (LOSS) BEFORE INCOME TAXES                       (22,469)        166,312

PROVISION FOR INCOME TAXES                                 --              --
                                                   ------------    ------------
NET INCOME (LOSS)                                       (22,469)        166,312

PREFERRED DIVIDENDS EARNED                              124,726         123,856
                                                   ------------    ------------
NET INCOME (LOSS) APPLICABLE TO
     COMMON STOCKHOLDERS                           $   (147,195)   $     42,456
                                                   ============    ============
WEIGHTED AVERAGE COMMON SHARES
     OUTSTANDING                                     10,921,122      10,921,122
                                                   ============    ============
INCOME (LOSS) PER COMMON SHARE
     BASIC AND DILUTED                             $       (.01)   $        .00
                                                   ============    ============

         The accompanying notes to the consolidated financial statements
                    are an integral part of these statements.

                                        4
<PAGE>

                        CADEMA CORPORATION AND SUBSIDIARY
                       STATEMENTS OF OPERATIONS-UNAUDITED
                    FOR THE THREE MONTHS ENDED SEPTEMBER 30,


                                                       2002            2001
                                                   ------------    ------------
REVENUE                                            $       --      $       --
COST OF GOODS SOLD                                         --              --
                                                   ------------    ------------
     GROSS PROFIT                                          --              --

OPERATING EXPENSES:
     General and administrative                           6,896           7,059
                                                   ------------    ------------
          Total operating expenses                        6,896           7,059
                                                   ------------    ------------
          Loss from operations                           (6,896)         (7,059)

OTHER INCOME (EXPENSE):
     Trading securities
     Transactions
       Realized losses                                     (281)        (22,231)
       Change in unrealized losses                      (88,565)       (151,080)
     Dividend income                                         27              23
                                                   ------------    ------------
          Total other income (expense)                  (88,819)       (173,288)
                                                   ------------    ------------

LOSS BEFORE INCOME TAXES                                (95,715)       (180,347)

PROVISION FOR INCOME TAXES                                 --              --
                                                   ------------    ------------
NET LOSS                                                (95,715)       (180,347)

PREFERRED DIVIDENDS EARNED                               41,576          41,575
                                                   ------------    ------------
NET LOSS APPLICABLE TO
     COMMON STOCKHOLDERS                           $   (137,291)   $   (221,922)
                                                   ============    ============
WEIGHTED AVERAGE COMMON SHARES
     OUTSTANDING                                     10,921,122      10,921,122
                                                   ============    ============
LOSS PER COMMON SHARE
     BASIC AND DILUTED                             $       (.01)   $       (.02)
                                                   ============    ============

         The accompanying notes to the consolidated financial statements
                    are an integral part of these statements.

                                        5
<PAGE>

                        CADEMA CORPORATION AND SUBSIDIARY
                CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED
          FOR EACH OF THE NINE MONTHS IN THE PERIOD ENDED SEPTEMBER 30,


                                                       2002             2001
                                                   ------------    ------------
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)                                  $    (22,469)   $    166,312
Adjustments to reconcile net income
  (loss) to net cash used in operating activities
  Realized gain on sale of joint venture
    Interest                                               --          (253,750)
  Realized loss on sale of trading
    Securities                                            1,906          18,088
  Unrealized (gain) loss in value
    of trading securities                                (1,275)         47,595
  Decrease in other current assets                        1,620           1,458
  Increase (decrease) in accrued liabilities             10,241         (12,000)
                                                   ------------    ------------
     Net cash used in operating activities               (9,977)        (32,297)
                                                   ------------    ------------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Proceeds from sale of marketable securities             9,895          26,099
                                                   ------------    ------------
     Net cash provided by investing activities            9,895          26,099
                                                   ------------    ------------
Net decrease in cash and
  cash equivalents                                          (82)         (6,198)
Cash and cash equivalents -
  Beginning of Period                                       666           9,533
                                                   ------------    ------------
Cash and cash equivalents -
  End of Period                                    $        584    $      3,335
                                                   ============    ============

SUPPLEMENTAL DISCLOSURES OF NON-CASH
INVESTING AND FINANCING ACTIVITIES
  Preferred Stock Dividends Accrued                $    124,726    $    123,856
                                                   ============    ============

  Sale of joint venture interest:
    Receipt of trading securities                  $       --      $    297,500
    Satisfaction of note receivable                        --           (43,750)
                                                   ------------    ------------
    Realized gain recognized                       $       --      $    253,750
                                                   ============    ============

         The accompanying notes to the consolidated financial statements
                    are an integral part of these statements.

                                        6
<PAGE>

                               CADEMA CORPORATION
              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED
               NINE MONTHS IN THE PERIOD ENDED SEPTEMBER 30, 2002

(1)  NATURE OF BUSINESS AND CURRENT OPERATING ENVIRONMENT:

     The principal business of Cadema Corporation (the "Company") is the
     financing and operating of business enterprises with the potential to
     generate profits and cash flow. Currently the Company is exploring possible
     acquisitions and mergers throughout the United States and abroad, as it has
     done in the past, seeking to enter into new operating businesses and to use
     the Company's liquid assets in connection therewith.

     As part of this strategy, the Company entered into a joint venture
     agreement with Danzer Industries, Inc. (formerly Global Environmental,
     Inc.) in December 1993. During 2001, the Company sold its interest in the
     joint venture. As a result of this transaction, the statements of
     operations and cash flows include the consolidated activities of Cadema
     Corporation and Subsidiary up until June 21, 2001, the sale of the
     Company's joint venture interest.

     While the principal business of the Company is the financing and operating
     of business enterprises with the potential to generate profits and cash
     flow, it still intends to invest in and sell marketable securities as
     outlined in a plan approved by stockholders in 1988.

     The Company intends to continue to invest in trading securities, including
     but not limited to stocks, bonds, options and warrants.

     The Company now holds and currently expects to invest primarily in the
     stock of smaller, lesser known and often more speculative companies, which
     while entailing above-average risk, offer the potential of above-average
     reward. Approximately 96% of the Company's assets at September 30, 2002 is
     comprised of an investment in one trading security. This security is traded
     on the over the counter bulletin board and is highly volatile. At November
     7, 2002, it had an increase in quoted market value of $192,500 from that
     reported on September 30, 2002.

     There are significant risk factors affecting the Company, including
     potential operating losses it may incur from operating ventures, the
     volatility of market values of its investment securities portfolio, and the
     possible need for additional capital. These and other factors may adversely
     affect the Company's future operations.

     The accompanying condensed financial statements have been prepared by the
     Company, without audit, and reflect all adjustments, which are, in the
     opinion of management, necessary to present a fair statement of the results
     of operations, financial position, and cash flows for the interim periods.
     The statements have been prepared in accordance with the rules and
     regulations of the Securities and Exchange Commission, but omit certain
     information and footnote disclosures necessary to present the statements in
     accordance with generally accepted accounting principles.

     These condensed financial statements should be read in conjunction with the
     financial statements and notes thereto included in the Company's Annual
     Report on Form 10-KSB for the year ended December 31, 2001. Management
     believes that the disclosures are adequate to make the information
     presented herein not misleading.

                                        7
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATION

     The principal business of Cadema Corporation (the Company) is the financing
     and operating of business enterprises with the potential to generate
     profits and cash flow. The Company continues in its principal business of
     seeking and financing business enterprises with the potential to generate
     profits and positive cash flow. The Company's previous entry into the
     pollution control business is part of this strategy. New opportunities were
     evaluated in 2002 but none were deemed appropriate to enter into. Operating
     results for the nine month period ended September 30, 2002, are not
     necessarily indicative of the results that may be expected for the full
     year ending December 31, 2002.

     The Company intends to continue using its available funds to purchase,
     invest in and sell securities as outlined in a plan approved by
     stockholders in 1988.


     RESULTS OF OPERATIONS

     There were no revenues from operations in the first nine months of 2002 or
     2001.

     Operating expenses for the first nine months of 2002 were $21,867, in line
     with 2001's first nine month's expenses of $21,936 and represented
     administrative expenses of the Company.

     Other income in the first nine months of 2002 totaled a loss of $602 as
     compared to other income in 2001 of $188,248. This contrast is due to a
     gain on the sale of the Company's Joint Venture interest and to greater
     appreciation in the company's Investment Portfolio in 2002 compared the
     same period of 2001. It should be noted that the Company's trading
     securities are based on quotations on the over the counter bulletin board
     and are point in time estimates. These values should not be used to predict
     future earnings or cash flows. Subsequent to September 30, 2002, our
     primary equity investment, comprising 96% of our total assets, had an
     increase in quoted market value of approximately $87,500.

     The net loss applicable to common stockholders for the first nine months of
     2002, after an accrual for a Preferred Stock dividend, was a $147,195 or
     $.01 per share. For the same period of the prior year, a better performance
     by the Company's Investment Portfolio resulted in net income applicable to
     common shareholders of $42,456 or $.00 per share being recognized.

     LIQUIDITY AND CAPITAL RESOURCES

     Liquidity and working capital decreased by $22,469 to $249,105 in the first
     nine months of 2002 due to no revenue from the Company's operations. The
     Company believes it has sufficient working capital to meet its liquidity
     needs over the next twelve months.

                                        8
<PAGE>

ITEM 4. CONTROLS AND PROCEDURES

(a)  Evaluation of disclosure controls and procedures

     The Company's principal executive officer and its principal financial
     officer, based on their evaluation of the Company's disclosure controls and
     procedures (as defined in Exchange Act Rules 13a -14 (c)) as of a date
     within 90 days prior to the filing of this Quarterly Report on Form 10-Q,
     have concluded that the Company's disclosure controls and procedures are
     adequate and effective for the purposes set forth in the definition in
     Exchange Act rules.

(b)  Changes in Internal Controls

     There were no significant changes in the Company's internal controls or in
     other factors that could significantly affect the Company's internal
     controls subsequent to the date of their evaluation.


PART II

ITEMS 1 THRU 5:  Not Applicable

ITEM 6:          Exhibits and Reports on Form 8K

                 (a) Exhibits

                     Exhibit 99 - Certification Pursuant to 18 U.S.C Section
                     1350, As adopted Pursuant to Section 906 of the
                     Sarbanes-Oxley Act of 2002

                 (b) Reports on Form 8-K

                     None



                                        9
<PAGE>

                                   SIGNATURES

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



                                      CADEMA CORPORATION


Dated: November 8, 2002                By: /s/ Roger D. Bensen
                                          --------------------------------
                                          ROGER D. BENSEN
                                          Chairman of the Board, Chief Executive
                                          Officer and Acting CFO

















                                       10
<PAGE>

                               CADEMA CORPORATION

                            CERTIFICATION PURSUANT TO
               RULE 13A-14 OF THE SECURITIES EXCHANGE ACT OF 1934
                             AS ADOPTED PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

CERTIFICATION

I, Roger Bensen, certify that:

1.   I have reviewed this quarterly report on Form 10-QSB of Cadema Corporation;

2.   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4.   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a.   Designed such disclosure controls and procedures to ensure that
          material information relating to the registrant, including its
          consolidated subsidiaries, is made known to us by others within those
          entities, particularly during the period in which this quarterly
          report is being prepared

     b.   Evaluated the effectiveness of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date")

     c.   Presented in this quarterly report our conclusions about the
          effectiveness of the disclosure controls and procedures based on our
          evaluation as of the Evaluation Date

5.   The registrant's other certifying officers and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of registrant's board of directors (or persons performing the
     equivalent function):

     a.   All significant deficiencies in the design or operation of internal
          controls which could adversely affect the registrant's ability to
          record, process, summarize and report financial data and have
          identified for the registrant's auditors any material weaknesses in
          internal controls

     b.   Any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          controls

6.   The registrant's other certifying officers and I have indicated in this
     quarterly report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date: November 8, 2002                    /s/ Roger D. Benson
                                         --------------------------------------
                                         Roger D. Benson
                                         Chairman of the Board, Chief Executive
                                         Officer and Acting CFO

                                       11