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 ended May 31, 2002

[ ]      Transition report under Section 13 or 15(d) of the Exchange Act

        For the transition period from ________________ to ______________

                         Commission file number 0-28891

                            Commercial Concepts, Inc.
                            -------------------------
        (Exact name of small business issuer as specified in its charter)

            Utah                                          87-0409620
(State or other jurisdiction of             (I.R.S. Employer Identification No.
 incorporation or organization


                 168 E Center, North Salt Lake, Utah 84054-1807
                 ----------------------------------------------
                    (Address of principal executive offices)


                                 (801) 936-0595
                             ----------------------
                           (Issuer's telephone number)


                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
stock equity, as of May 31, 2002 was 45,884,517.

Transitional Small Business Disclosure Format (Check One): Yes [ ] No [X]

<PAGE>


                            Commercial Concepts, Inc.


                              Financial Statements





              As of May 31, 2002 (Unaudited) and February 28, 2002
        and for the (Unaudited) Three Months Ended May 31, 2002 and 2001







                                    Contents


Balance Sheets as of May 31, 2002 (Unaudited) and February 28, 2002....... 3

Unaudited Statements of Operations for the three months ended
May 31, 2002 and 2001..................................................... 4

Unaudited Statements of Cash Flows for the three months ended
May 31, 2002 and 2001..................................................... 5

Unaudited Statements of Stockholders' Deficit for the three months
ended May 31, 2002........................................................ 6

Notes to Financial Statements............................................. 7

                                       2
<PAGE>
<TABLE>
<CAPTION>
                                    Commercial Concepts, Inc.

                                         BALANCE SHEETS
                            As of May 31, 2002 and February 28, 2002


                                                                         May 31,         February 28,
                              ASSETS                                      2002               2002
                                                                    -----------------  ------------------
                                                                       (Unaudited)         (Audited)
<S>                                                                 <C>                <C>
CURRENT ASSETS
     Cash and cash equivalents                                      $            550   $             308
     Trade receivables                                                           400              21,796
                                                                    -----------------  ------------------
            Total current assets                                                 950              22,104

PROPERTY AND EQUIPMENT, net                                                   43,316              49,151
SOFTWARE DEVELOPMENT COSTS, net of
     reserve for impairment of  $554,683 at May 31, and
     Februray 28, 2002
DEPOSITS                                                                           -               7,117
                                                                    -----------------  ------------------
                                                                    $         44,266   $          78,372
                                                                    =================  ==================

               LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES
     Bank overdraft                                                                    $             427
     Trade accounts payable                                         $        214,820             217,394
     Accrued compensation                                                    421,455             341,416
     Other accrued expenses                                                   44,010              36,665
     Current portion of capital lease obligation                               4,157               4,157
     Short-term notes payable                                                249,488             249,488
                                                                    -----------------  ------------------
            Total current liabilities                                        933,930             849,547

LONG-TERM LIABILITIES
     Long-term portion of capital lease obligation                            12,218              12,218
     Convertible notes payable                                             1,715,700           1,673,470
                                                                    -----------------  ------------------
                                  Total liabilities                        2,661,848           2,535,235

STOCKHOLDERS' DEFICIT
     Common stock, $.001 par value, 250,000,000 shares
       authorized, 45,884,517 and 43,,306,517 shares
       issued and outstanding, respectively                                   45,885              43,307
     Additional paid-in-capital                                            3,344,881           3,322,707
     Receivable from shareholders                                           (213,880)           (213,880)
     Accumulated deficit                                                  (5,794,468)         (5,608,997)
                                                                    -----------------  ------------------
            Total stockholders' deficit                                   (2,617,582)         (2,456,863)
                                                                    -----------------  ------------------

                                                                    $         44,266   $          78,372
                                                                    =================  ==================

                                                  3
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                    Commercial Concepts, Inc.

                               UNAUDITED STATEMENTS OF OPERATIONS
                          For the Quarters Ended May 31, 2002 and 2001

                                                                    2002               2001
                                                               -------------      -------------
<S>                                                            <C>                <C>
REVENUES                                                       $       1,434      $       9,092

COST OF SALES                                                                             6,817
                                                               -------------      -------------

GROSS MARGIN                                                           1,434              2,275

OPERATING EXPENSES
     General and administrative                                      129,538            460,424
     Sales & marketing                                                 3,525
     Product development                                              15,096
                                                               -------------      -------------
        Total operating expenses                                     148,159            460,424
                                                               -------------      -------------

OPERATING LOSS                                                      (146,725)          (458,149)

OTHER INCOME (EXPENSE)
     Interest income                                                      26                236
     Interest expense                                                (38,772)           (68,926)
                                                               -------------      -------------
        Total other income (expense)                                 (38,746)           (68,690)
                                                               -------------      -------------

NET LOSS                                                       $    (185,471)     $    (526,839)
                                                               =============      =============

NET LOSS PER COMMON SHARE

Weighted Average Shares Outstanding:
        Basic                                                     44,534,517         28,517,658
        Diluted                                                   44,534,517         28,517,658

Net loss per Common Share:
        Basic                                                  $      (0.004)     $      (0.018)
        Diluted                                                $      (0.004)     $      (0.018)

                                                  4
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                            Commercial Concepts, Inc.

                                       UNAUDITED STATEMENTS OF CASH FLOWS
                                  For the Quarters Ended May 31, 2002 and 2001

                                                                                 2002               2001
                                                                          ----------------     ---------------
<S>                                                                       <C>                  <C>
CASH FLOWS FROM OPERATING ACTIVITIES
    Net loss                                                              $      (185,471)     $     (526,839)
    Adjustments to reconcile net loss to net cash
       used in operating activities:
       Depreciation                                                                 5,835               7,009
       Common stock issued for services                                                                33,000
       Interest expense added to convertible debt balances                         28,191              91,207
       Changes in operating assets and liabilities:
           Trade receivables and advances                                          21,396               4,742
           Prepaids and other assets                                                7,117                 750
           Accounts payable, bank overdrafts and accrued liabilities              105,384              55,042
                                                                          ----------------     ---------------
       Net cash used in operating activities                                      (17,548)           (335,089)

CASH FLOWS FROM INVESTING ACTIVITIES
    Purchases of property, plant and equipment                                          -              (5,021)
    Additions to software licenses                                                      -              (1,250)
                                                                          ----------------     ---------------
       Net cash used in investing activities                                            -              (6,271)

CASH FLOWS FROM FINANCING ACTIVITIES
    Issuance of convertible debt                                                   17,790             300,000
                                                                          ----------------     ---------------
       Net cash provided by financing activities                                   17,790             350,000
                                                                          ----------------     ---------------

Net change in cash and cash equivalents                                               242               8,640

    Cash and cash equivalents, beginning of year                                      308               1,621
                                                                          ----------------     ---------------

CASH AND CASH EQUIVALENTS, end of year                                    $           550      $       10,261
                                                                          ===============      ==============

SUPPLEMENTAL DISCLOSURES
    Cash interest paid                                                    $             -      $        5,789
    Conversion of long-term debt to common stock                                    3,751             351,148
    Common stock issued in settlement of liabilities                               21,001             105,944

                                                     5
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                            Commercial Concepts, Inc.

                                  UNAUDITED STATEMENTS OF STOCKHOLDERS' DEFICIT
                                           Quarter Ended May 31, 2002




                                                        Common Stock            Additional                   Receivable
                                                        ------------             Paid-In      Accumulated       From
                                                    Shares         Amount        Capital        Deficit     Shareholders
                                                    ------         ------        -------        -------     ------------
<S>                                                 <C>              <C>         <C>            <C>            <C>
Balance at February 28, 2002                        43,306,517         43,307     3,322,707      (5,608,997)     (213,880)

    Common stock issued in conversion of debt          875,000            875         2,876

    Common stock issued in payment of liabilities    1,703,000          1,703        19,298

    Net loss                                                                                       (185,471)
                                                    ----------       --------    ----------     -----------    ----------

Balance at May 31, 2002                             45,884,517       $ 45,885    $3,344,881     $(5,794,468)   $ (213,880)
                                                    ==========       ========    ==========     ===========    ==========

                                                    6
</TABLE>
<PAGE>

                            COMMERCIAL CONCEPTS, INC

                          NOTES TO FINANCIAL STATEMENTS
                     For the Three Months Ended May 31, 2002

1.  Description of Business and Summary of Significant Accounting Policies

Description  of  Business:  Commercial  Concepts,  Inc.  (the  Company)  creates
proprietary    software    platforms.    From   these    platforms    individual
internet-accessible  database-driven  software  products are developed.  As each
product completes beta testing,  the Company plans to seek either a distribution
partner to market and provide  ongoing  support for the product or a licensee to
license the product.

Interim Financial Information:  The accompanying interim financial statements of
the  Company  are  unaudited,  but in the  opinion  of  management  reflect  all
adjustments  (consisting  of  normal  recurring  accruals)  necessary  for  fair
presentation of the results for such periods.  The results of operations for any
interim period are not necessarily  indicative of the results for the respective
full year.  These financial  statements  should be read in conjunction  with the
financial  statements and notes thereto contained in the Company's annual report
on Form 10KSB for the year ended  February 28, 2001 as filed with the Securities
and Exchange Commission.

Concentration of Credit Risk: Financial instruments that potentially subject the
Company to a concentration of credit risk consist  principally of cash.  Banking
with federally  insured,  creditworthy  institutions  minimizes risks associated
with cash.

Cash and Cash  Equivalents:  The Company  considers  all cash and highly  liquid
investments purchased with an original maturity of less than three months at the
date of purchase to be cash equivalents.

Property  and  Equipment:  Property  and  equipment  is  stated  at  cost,  less
accumulated  depreciation.  Depreciation is calculated  using the  straight-line
method over the estimated  useful lives of the assets,  generally  three to five
years. Normal maintenance and repair items are expensed as incurred.

Software  Licenses:  The Company's policy is to expense research and development
costs until  technological  feasibility is reached and all related  research and
development  activities are completed.  Subsequent  production expenses to bring
the products to market are then capitalized. Capitalization of software costs is
discontinued  when the product is available  for general  release to  customers.
These  amounts  are  recorded  at cost  and are  amortized  over the life of the
licenses,  which is estimated to be 5 years.  However,  given concerns about the
Company's  ability to continue as a going concern and therefore  it's ability to
ultimately recover the value of such capitalized costs, an impairment reserve of
$554,683 was recorded at February 28, 2002  offsetting the amount of capitalized
software costs (see Note 2). No costs were capitalized  during the quarter ended
May 31, 2002.

Income  Taxes:  The  Company  provides  for income  taxes based on the asset and
liability  method required by SFAS No. 109,  Accounting for Income Taxes,  which
requires recognition of deferred tax assets and liabilities based on differences
between  financial  reporting and tax bases of assets and  liabilities  measured
using  enacted  tax rates and laws that are  expected  to be in effect  when the
differences are expected to reverse.  Valuation  allowances are established when
necessary to reduce deferred tax assets to the amount expected to be realized.

Use of Estimates:  The  preparation of financial  statements in conformity  with
accounting   principles   generally  accepted  in  the  United  States  requires
management to make estimates and assumptions that affect the reported amounts of
assets and  liabilities  and  disclosure of contingent  assets and  liabilities.
Although  management  believes  estimates are appropriate,  actual results could
differ from the estimates and assumptions used.

Comprehensive  Income:  The Company has adopted the  provisions of SFAS No. 130,
Reporting Comprehensive Income. SFAS No. 130 establishes standards for reporting
comprehensive income and its components in financial  statements.  Comprehensive
income, as defined,  includes all changes in equity (net assets) during a period
from  non-owner  sources.  Comprehensive  loss is the  same as net  loss for the
quarters ended May 31, 2002 and 2001.

Net Income (Loss) per Common Share:  Basic net income (loss) per common share is
computed based upon the average number of common shares  outstanding  during the
period.  The diluted per share  computation  adds to the weighted  common shares
outstanding the incremental  increase in shares due to outstanding  common stock
equivalents (options,  warrants,  etc.) unless such common stock equivalents are
considered anti-dilutive.

                                       7
<PAGE>

                            COMMERCIAL CONCEPTS, INC

                          NOTES TO FINANCIAL STATEMENTS
                     For the Three Months Ended May 31, 2002

2.  Going Concern

The  accompanying  financial  statements  have been prepared in conformity  with
generally accepted accounting principles, which contemplates the continuation of
the  Company as a going  concern.  However as of May 31,  2002,  the Company had
current  liabilities  substantially  in  excess  of  current  assets,  has a net
stockholders'  deficit and has incurred  significant  operating  losses,  all of
which raise  substantial doubt about its ability to continue as a going concern.
The Company has taken certain actions in order to enable it to obtain additional
financing,  however, as of the date of these financial statements, these actions
have been unsuccessful.  Without additional  financing,  the Company will not be
able to continue as a going  concern.  As of July 10,  2002,  the Company had no
commitment for additional financing, and it is doubtful as to the ability of the
Company to continue as a going concern.  As a result, all assets and liabilities
have been recorded at their  estimated  net  recoverable  amounts,  including an
impairment  charge for capitalized  software  development costs in the amount of
$554,683.

3.  Property and Equipment

Property and equipment consists of the following:

                                                      February 28,
                                                 2002               2001
                                          -------------------------------------

 Leasehold improvements                     $     7,000         $     7,000
 Computer and other equipment                   104,904             104,904
 Office furniture                                12,173              12,173
                                            -----------         -----------
   Total                                        124,077             124,077
Less accumulated depreciation                   (80,761)            (74,926)
                                            -----------         -----------
                                            $    43,316         $    49,151
                                            ===========         ===========

4.  Notes Payable

Short-term debt consisted of the following:
<TABLE>
<CAPTION>
                                                                                     May 31,           February 28,
                                                                                      2002                 2002
                                                                                   ---------           ------------
<S>                                                                                <C>                  <C>
Notes payable to an  individual  at dates from June 22, 2000  through  April 12,
  2001, due at various dates through April 12, 2002, plus all accrued
  interest at 15%.                                                                 $  78,500            $  78,500
Note payable to an individual dated November 3, 2000, collateralized by
  200,000 shares of the Company's common stock, payable on demand plus all
  accrued interest at 15%.                                                            15,000               15,000
Note payable (non-collateralized) to an individual dated June 15, 2000
  payable on demand plus all accrued interest at 10%.                                 42,988               42,988
Note payable to a limited partnership dated February 2001, collateralized by
  571,250 shares of the Company's  common stock,  payable on March 15, 2001 plus
  all accrued interest at 12%.
Note payable to a corporation (non-collateralized) dated January 23, 2001
  due on demand plus all accrued interest at 10%.                                     10,000               10,000
Note payables (non-collateralized) to a limited partnership dated October 22
     and December 14, 2001 payable on demand with an interest rate of 12%.           100,000              100,000
Other                                                                                  3,000                3,000
                                                                                   ---------            ---------

Total                                                                              $ 249,488            $ 249,488
                                                                                   =========            =========

                                                           8
</TABLE>
<PAGE>

                            COMMERCIAL CONCEPTS, INC

                          NOTES TO FINANCIAL STATEMENTS
                     For the Three Months Ended May 31, 2002


Convertible debt consisted of the following:
<TABLE>
<CAPTION>
                                                                                    May 31,         February 28,
                                                                                     2002               2002
                                                                                   ----------       ------------
<S>                                                                                <C>               <C>
Convertible notes payable to a private investment group with $250,000 originally
    due  on  July  20,  2003,  $250,000  due on  September  20,  2003,  $300,000
    originally due on April 19, 2004, $500,000 due on June 14,
    2004, and $17,790 due on May 8, 2005, plus accrued interest at 6% to 8%.       $1,136,684        $1,103,982
Convertible note payable to a private investment group due December 3, 2003
    plus all accrued interest at 8%.                                                  319,169           313,422
Three convertible notes payable to an individual with $100,000 due August
    29, 2003, $100,000 due October 19, 2003 and $50,000 due November 30,
    2003 plus all accrued interest at 6%                                              259,847           256,066
                                                                                   ----------        ----------
Long-term portion                                                                  $1,715,700        $1,673,470
                                                                                   ==========        ==========
</TABLE>

Long-term debt as of May 31, 2002 is scheduled to mature as follows:

           2003                              None
           2004                           $1,159,401
           2005                              556,299
                                          ----------
           Total                          $1,715,700
                                          ==========

The  convertible  notes  payable  described  above can be converted  into common
shares of the Company  based upon 80% of the three lowest  closing  share prices
during the  thirty  trading  days  prior to the date of the note,  or 76% of the
three  lowest  closing  prices  during  the  sixty  trading  days  prior  to the
conversion date. The Company retains a redemption clause in the notes that allow
the Company to  repurchase  the notes upon payment of 130% to 150% of the note's
face value, plus accrued interest.  In addition,  the Company issued warrants to
purchase  5,290,000  shares of the  Company's  common stock at market on the day
issued with  exercise  prices  ranging  from $0.50 to $.0072  (weighted  average
exercise price of $.23) in connection with these notes.

5. Receivable from Shareholders

The following  summarizes  receivable  amounts from shareholders for purchase of
Company stock:

     2,000,000 shares issued May 5, 1999 to an officer
       valued at $.06 per share                                    $120,000
     1,598,000 shares issued August 9, 1999 to an officer,
       valued at $.06 per share.                                     93,880
                                                                   --------
     Balance due                                                   $213,880
                                                                   ========

6.  Lease Commitments

As of May 31,  2002,  the  Company  leased  office  space  under  non-cancelable
operating  leases.  However,  due to cash  flow  difficulties,  the  Company  is
relocating to a smaller,  less expensive  office in July,  2002 and the landlord
has agreed to release the Company from its current lease obligation.

                                       9
<PAGE>
                      Management's Discussion and Analysis

General

       The  following  discussion  and analysis of our  financial  condition and
results  of  operations  should  be  read  in  conjunction  with  the  financial
statements  (including the notes thereto),  and the other  information  included
elsewhere  herein.  Our fiscal  year runs from  March 1 through  the last day of
February.

RESULTS OF OPERATIONS

Quarter Ended May 31, 2002 vs. Quarter Ended May 31, 2001

       Sales:  Sales decreased by approximately  $7,600 during the first quarter
of fiscal 2003 to $1,434  compared to the same quarter in the prior fiscal year.
This decrease is a combination of the lack of PictureBase  and media revenue and
reduced Wavescreen  revenue during the first quarter of fiscal 2003.  Wavescreen
revenues decreased  primarily due to our inability to seek hosts and advertisers
because of cash flow difficulties.

       Cost of sales:  There was no cost of sales  during  the first  quarter of
fiscal  2003  compared  to a cost of sales of $6,817 in the same  quarter of the
prior year. The cost of sales in the prior year consisted  primarily of hardware
costs associated with  PictureBase  sales and costs associated with media sales.
There are  relatively  few costs  associated  with the generation of Wavescreens
revenues.

       Operating  expenses:  Operating  expenses  decreased from $460,424 in the
first  quarter of fiscal 2002 to $148,159  for the same  quarter in fiscal 2003.
Because of our current financial position,  most of our employees have been laid
off until additional funding is secured. The reduction in salaries combined with
the  elimination  of most variable  costs  resulted in the decrease in operating
expenses.  We continue  to look for ways to reduce  costs  including  moving the
corporate headquarters to smaller and less expensive office space.

       Interest  expense:  Interest expense  decreased by approximately  $30,000
during  first  quarter of fiscal 2003 as  compared to the same  quarter in 2002.
During the first  quarter  of fiscal  2002,  we paid  certain  costs  related to
financing  transactions  that were  recorded as interest  expense.  In the first
quarter of fiscal 2003, we did not incur this same type of expense  resulting in
the decrease between the two quarters.

Liquidity and Capital Resources

       At May 31, 2002, we had cash  amounting to $550 and total current  assets
of $950 with current liabilities amounting to approximately $934,000. During the
quarter Commercial Concept's expenditures and cash requirements were met using a
combination  of sales,  collection of  receivables  and debt. Due to our current
liquidity  position,  our auditors  have issued a going  concern  opinion on our
audited financial statements as of February 28, 2002. Our ability to continue as
a going concern is dependent upon our ability to generate additional capital. We
do not currently have any additional  financing in place,  nor have we generated
additional  equity or debt subsequent to the end of our fiscal  quarter.  During
the  first  quarter  of fiscal  2003 we used  approximately  $17,500  of cash in
operations.

                                       10
<PAGE>

                                   SIGNATURES

In accordance with the  requirements  of the Exchange Act, the registrant  cause
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

Commercial Concepts, Inc.


/s/  George E. Richards                                           7/12/02
---------------------------------------------------
George E. Richards, President and Chief Executive
Officer
                                                                  7/12/02
/s/  Scott G. Adamson
---------------------------------------------------
Scott G.Adamson, Executive Vice President


                                       11