<PAGE>   1
                                                                
                       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 March 31, 1999.

                                       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 10,905,549 shares of the Registrant's common stock outstanding as of
April 29, 1999.

                                        1

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                               CADEMA CORPORATION
                                   FORM 10-QSB

                                      INDEX

PART 1.  FINANCIAL INFORMATION

            Item 1 - Financial Statements                                  3
             Balance Sheets - March 31, 1999 and
             December 31, 1998

            Statements of Operations - Three months ended                  4
             March 31, 1999 and March 31, 1998

            Statements of Cash Flows - Three months ended                  5
             March 31, 1999 and March 31, 1998

            Notes to Financial Statements                                  6

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

PART II. OTHER INFORMATION

            Signatures                                                     9

            Exhibit


         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 a fair statement of the results of
operations, financial position, and statements of 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, 1998. Management believes
that the disclosures are adequate to make the information presented herein not
misleading.


                                       2

<PAGE>   3
<TABLE>
<CAPTION>


                        CADEMA CORPORATION AND SUBSIDIARY
                          CONSOLIDATED BALANCE SHEETS 



                            ASSETS                                          March 31,1999                     December 31,1998
                                                                     -----------------------------       ---------------------------

CURRENT ASSETS:
<S>                                                                  <C>                                 <C>

 Cash and cash equivalents                                              $           5,902                   $          13,829
 Trading securities (Cost $701,321 in                                             313,798                             267,067
 1999 and $701,321 in 1998)
  (Note 2)
 Other current assets                                                                 500                               1,149
                                                                     -----------------------------       ---------------------------

     TOTAL CURRENT ASSETS                                                         320,200                             282,045

 NOTE RECEIVABLE less allowance for bad
   debt of $260,250 in 1999 and 1998
                                                                                   84,750                              84,750
                                                                     -----------------------------       ---------------------------

     TOTAL ASSETS                                                       $         404,950                   $         366,795
                                                                     -----------------------------       ---------------------------

             Liabilities And Stockholders' Equity

CURRENT LIABILITIES:

Accrued liabilities                                                     $          13,000                   $          13,000

Accrued dividends on preferred stock                                            1,061,133                           1,018,687
Minority Interest in Subsidiary (Note 3)                                            7,296                               7,296
                                                                     -----------------------------       ---------------------------

     TOTAL LIABILITIES                                                          1,081,429                           1,038,983
                                                                     -----------------------------       ---------------------------

STOCKHOLDERS' EQUITY
Series A 8% Cumulative Convertible
  Preferred Stock, par value $.01 per                share                          4,851                               4,851
authorized 5,000,000 shares;        issued 485,123 shares in
1999 and 1998
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                                            109,356                             109,356
  10,935,549 shares in 1999 and 1998.
Additional paid-in capital                                                      7,765,904                           7,765,904
Accumulated deficit                                                            (8,460,220)                         (8,455,929)
Less:  Treasury stock at cost
   Common shares                                                                  (75,000)                            (75,000)
   Preferred shares                                                               (21,370)                            (21,370)
                                                                     -----------------------------       ---------------------------

     TOTAL STOCKHOLDERS' EQUITY                                                  (676,479)                           (672,188)
                                                                     -----------------------------       ---------------------------
     TOTAL LIABILITIES AND
      STOCKHOLDERS' EQUITY                                              $         404,950                   $         366,795
                                                                     =============================       ===========================


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


                                       3

</TABLE>

<PAGE>   4
<TABLE>
<CAPTION>


                        CADEMA CORPORATION AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                      FOR THE THREE MONTHS ENDED MARCH 31,



                                                                                 1999                               1998
                                                                     -----------------------------       ---------------------------
 
<S>                                                                  <C>                                 <C>

REVENUE                                                                 $               -                   $               -
COST OF GOODS SOLD                                                                      -                                   -
                                                                     -----------------------------       ---------------------------
                                                                     -----------------------------       ---------------------------

         GROSS PROFIT                                                                   -                                   -

OPERATING EXPENSES:
         General and administrative                                                 8,690                               8,851
                                                                     -----------------------------       ---------------------------
                                                                     -----------------------------       ---------------------------

                  Total operating expenses                                          8,690                               8,851
                                                                     -----------------------------       ---------------------------
                                                                     -----------------------------       ---------------------------

                  Loss from operations                                             (8,690)                             (8,851)

OTHER INCOME (EXPENSE):
         Trading securities
         Transactions (Notes 2)
           Realized gains (losses)                                                      -                              (8,382)
           Change in unrealized losses                                             46,731                              (8,474)
         Dividend income                                                              113                                 518
                                                                     -----------------------------       ---------------------------
                  Total other income (expense)                                     46,844                             (16,338)
                                                                     -----------------------------       ---------------------------
                                                                     -----------------------------       ---------------------------

INCOME (LOSS) FROM OPERATIONS                                                      38,154                             (25,189)

PROVISION FOR INCOME TAXES                                                              -                                   -
                                                                     -----------------------------       ---------------------------
                                                                     -----------------------------       ---------------------------

NET INCOME (LOSS)                                                                  38,154                             (25,189)

PREFERRED DIVIDENDS EARNED                                                         42,445                              42,445
                                                                     -----------------------------       ---------------------------
                                                                     -----------------------------       ---------------------------

NET LOSS APPLICABLE TO
         COMMON STOCKHOLDERS (Note 2)                                   $          (4,291)                  $         (67,634)
                                                                     =============================       ===========================

WEIGHTED AVERAGE COMMON SHARES
         OUTSTANDING (Note 2)                                                  10,905,549                          10,905,549

LOSS PER COMMON AND SHARE
         BASIC AND DILUTED                                              $           (.00)                   $           (.01)
                                                                     =============================       ===========================
                                                                                                         ---------------------------


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

</TABLE>

                                       4

<PAGE>   5
<TABLE>
<CAPTION>



                        CADEMA CORPORATION AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
           FOR EACH OF THE THREE MONTHS IN THE PERIOD ENDED MARCH 31,


CASH FLOWS FROM OPERATING ACTIVITIES                                                            1999                1998
                                                                                          ------------------  ------------------
<S>                                                                                      <C>                 <C>

Net income (loss) from operations                                                         $       38,154      $       (25,189)
Adjustments to reconcile net income
   (loss) to net cash provided by (used in) operating
  activities
    Realized loss (gain) on sale of trading
     securities                                                                                        -                8,382
   Unrealized loss (gain) in value
     of trading securities                                                                       (46,731)               8,476
    Decrease (Increase) in other receivables and
     current assets                                                                                  650                  210
    (Decrease) increase in accounts payable and
     accrued liabilities                                                                               -                    -
                                                                                          ------------------  ------------------
       Net cash provided by (used in) continuing
        operating activities                                                                      (7,927)              (8,121)
                                                                                          ------------------  ------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Purchase of marketable securities                                                                   -              (44,170)
   Proceeds from sale of marketable securities                                                         -               47,398
       Net cash provided by (used in) investing
                                                                                          ------------------  ------------------
        activities                                                                                     -                3,228
                                                                                          ------------------  ------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Treasury Stock Purchase                                                                             -                    -
                                                                                          ------------------  ------------------
       Net cash (used in)
        financing activities                                                                           -                    -
                                                                                          ------------------  ------------------

Net increase (decrease) in cash and
   cash equivalents                                                                               (7,927)              (4,893)
Cash and cash equivalents -
   Beginning of Period                                                                            13,829               48,682
                                                                                          ------------------  ------------------
                                                                                          ------------------  ------------------
Cash and cash equivalents -
   End of Period                                                                          $        5,902      $        43,789
                                                                                          ==================  ==================


SUPPLEMENTAL DISCLOSURES OF NON-CASH
INVESTING AND FINANCING ACTIVITIES
   Preferred Stock Dividends Earned                                                       $       42,445      $        42,445
                                                                                          ==================  ==================

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

</TABLE>

                                       5

<PAGE>   6


                               CADEMA CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                 NINE MONTHS IN THE PERIOD ENDED MARCH 31, 1999

(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 Global Environmental, Inc. in December 1993. The
         Company did not generate any revenues from operations in 1998 or 1997,
         and is currently pursuing additional contracts.

         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.

         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.

(2)      SIGNIFICANT ACCOUNTING POLICIES

         Cash and cash equivalents

         For purposes of the Consolidated Balance Sheet and Statements of Cash
         Flows, the Company considers its short-term investments purchased with
         a maturity of three (3) months or less to be cash equivalents.

         Trading Securities

         In accordance with Statement of Financial Accounting Standards (SFAS)
         No. 115, "Accounting for Certain Investments in Debt and Equity
         Securities", the Company classifies marketable securities as "trading"
         and records them at fair market value, with unrealized gains and losses
         reported as a component of net income (loss).

         Realized gains and losses are determined on a first-in, first-out
         basis.


                                       6

<PAGE>   7


(2)      SIGNIFICANT ACCOUNTING POLICIES: (CONT.)


         Loss Per Common Share

         Net income (loss) per share is calculated in accordance with SFAS No.
         128. Loss per Common Share is calculated by dividing the net loss by
         the weighted average number of common shares outstanding. As all Cadema
         preferred stock, options and warrants outstanding have an anti-dilutive
         effect, so no calculations diluted loss per share have been presented.

(3) JOINT VENTURE:

        On December 31, 1993 the Company entered into a Joint Venture Agreement
        with Global Environmental, Corp., a New York corporation, to create the
        Joint Venture entity Global Environmental Offshore Company ("Global" or
        "Joint Venture"). The Joint Venture Company engages in contracting for
        the design and installation of Air Pollution Control equipment and
        facilities in areas located outside the United States. Under the terms
        of the Joint Venture Agreement, the Company contributed $350,000 and
        received 51% control of the Joint Venture.

        Under the Joint Venture Agreement, Global Environmental, Corp. has the
        right to acquire the Company's interest in the Joint Venture for, at the
        Company's option, 875,000 shares of Global stock or the greater of
        $350,000 or the Company's existing capital account. The Company has the
        option to convert its Joint Venture interest into 875,000 shares of
        Global Environmental, Corp.'s common stock.

        The financial statements of the Joint Venture are consolidated with the
        Company's results in the accompanying financial statements of this
        report. The portion of the Joint Venture's income that is not applicable
        to the Company is recorded as Minority Interest on the Statement of
        Operations. That income along with Global Environmental Corp.'s capital
        contribution to the Joint Venture is recorded under the caption
        "Minority Interest in Subsidiary" on the Balance Sheet.

        Notes payable issued by Global Environmental Corp. to the Joint Venture
        are carried on the Balance Sheet as Notes Receivable and were due on
        December 31, 1996. Negotiations are in process for the refinancing of
        the note. As collection of the note in 1999 is not likely, the note has
        been classified as long-term.

        Negotiations are in process for the refinancing of this note receivable.
        Global Environmental Corp. does not have funds available to repay the
        Note in cash and has offered to exchange its stock for the Note. The
        Company has established a 75% reserve against the carrying value of the
        Note in recognition of the potential costs involved in liquidating any
        noncash settlement of this Note. Although the Company believes such 75%
        reserve to be adequate, the reserve is an estimate based on information
        presently available. The Company's estimate could change, which would
        result in a change in the reserve in the future.



                                       7

<PAGE>   8



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. Currently the Company is seeking joint
         venture partners as its sole operating subsidiary, Global Environmental
         Offshore Company, set up to contract for the design and installation of
         Air Pollution Control equipment and facilities for international
         markets, has generated no revenue in 1999. The Company continues to
         explore possible acquisitions and mergers as it has done in the past,
         seeking to enter into new operating situations with it can utilize its
         liquid assets.

         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.


         RESULTS OF OPERATIONS

         There were no revenues in the first three months of 1999 or 1998, as
         the Company's operating subsidiary Global Environmental Offshore
         Company had no revenue activity.

         Operating expenses for the first three months of 1999 were $8,690, in
         line with 1998's first quarter expenses of $8,851 and represented
         administrative expenses of the parent Company.

         Other income in the first three months totaled a gain of $46,844 as
         compared to a 1998 loss of $16,338. This contrast is due to 1999 gains
         on the company's Investment Portfolio as compared the loses incurred in
         the same period of 1998.

         The net loss applicable to common stockholders for the first three
         months, after an accrual for a Preferred Stock dividend, was $4,291 or
         $.00 per share. For the same period of the prior year, a poorer
         performance by the Company's Investment Portfolio resulted in a loss of
         $67,634 or $.01 per share being recognized.


         LIQUIDITY AND CAPITAL RESOURCES

         Liquidity and working capital increased by $38,155 to $307,200 in the
         first quarter of 1999 due primarily to the performance of the Company's
         marketable securities portfolio. The Company believes it has sufficient
         working capital to meet its liquidity needs over the next twelve
         months.


PART II
Items 1 thru 5:   Not Applicable

Item 6:                    Exhibits - Article 5 Financial Data Schedule
-------

                                       8

<PAGE>   9




                                   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:  May 3, 1999        By:   /s/ Roger D. Bensen                            
                             ------------------------------   
                                 ROGER D. BENSEN
                                 Chairman of the Board and
                                 Chief Executive Officer