<Page>

                     U.S. 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 JUNE 30, 2001

       [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

            FOR THE TRANSITION PERIOD FROM __________ TO ___________

             FOR THE QUARTERLY PERIOD ENDED ________________________

                        COMMISSION FILE NUMBER: 333-29295

                               RETROSPETTIVA, INC.

        (EXACT NAME OF SMALL BUSINESS ISSUER AS SPECIFIED IN ITS CHARTER)

                   CALIFORNIA                          95-4298051
        (STATE OR OTHER JURISDICTION OF             (I.R.S. EMPLOYER
        INCORPORATION OR ORGANIZATION)             IDENTIFICATION NO.)

                           8825 WEST OLYMPIC BOULEVARD
                             BEVERLY HILLS, CA 90211
                    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)

                                 (310) 657-1745
                           (ISSUER'S TELEPHONE NUMBER)

             CHECK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS
           REQUIRED TO BE FILED BY SECTION 13 OR 15(d) OF THE EXCHANGE
         ACT DURING THE PAST 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 [ ]

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

Check whether the registrant 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 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: Common Stock, No Par Value, 3,479,916
shares as of August 1, 2001.

Transitional Small Business Disclosure Format: Yes [ ] No [ X ]

<Page>

                       RETROSPETTIVA, INC. AND SUBSIDIARY
                                   FORM 10-QSB
                                      INDEX

<Table>
<Caption>
Part I  Financial Information                                         Page
<S>                                                                   <C>
     Item 1. Financial Statements:

     Balance Sheets as of June 30, 2001 and December 31, 2000           1

     Statements of Operations for the Three Months and Six
          Months Ended June 30, 2001 and 2000                           2

     Statements of Cash Flows for the
          Six Months Ended June 30, 2001 and 2000                       3

     Notes to Financial Statements                                      4

     Item 2. Management's Discussion and Analysis of
          Financial Condition and Results of Operations                 5

Part II Other Information and Signatures                                6

</Table>

<Page>

                       RETROSPETTIVA, INC. AND SUBSIDIARY
                                 BALANCE SHEETS

                                     ASSETS

<Table>
<Caption>
                                                                                   DECEMBER 31,      JUNE 30,
                                                                                       2000            2001
                                                                                   ------------    ------------
                                                                                                    (UNAUDITED)
<S>                                                                                <C>             <C>

CURRENT ASSETS

      Cash                                                                         $     26,069    $     43,713
      Accounts receivable, net, pledged                                                 247,084         366,940
      Due from factor                                                                   164,471          87,058
      Note receivable, stockholder, pledged                                             156,997           1,030
      Inventories, pledged                                                            8,368,237            --
      Income taxes receivable                                                           955,714         406,243
      Other current assets                                                              112,537         112,537
                                                                                   ------------    ------------
           Total Current Assets                                                      10,031,109       1,017,521

      PROPERTY AND EQUIPMENT, at cost, net                                            1,030,565           2,250
      Restricted investment, pledged                                                    300,000            --
      OTHER ASSETS                                                                       18,845          18,845
                                                                                   ------------    ------------
                                                                                   $ 11,380,519    $  1,038,616
                                                                                   ============    ============

                          LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

      Accounts payable, trade                                                      $  2,530,447    $  1,335,004
      Line of credit                                                                  2,274,376       1,049,528
      Accrued expenses                                                                  101,859            --
      Payroll taxes payable                                                                --            10,906
                                                                                   ------------    ------------
           Total Current Liabilities                                                  4,906,682       2,395,438
                                                                                   ------------    ------------

COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY

Preferred stock - authorized 1,000,000 shares - none issued or outstanding
Common stock - authorized 15,000,000 shares, no par value; 3,479,916
      issued and outstanding                                                          6,892,820       6,892,820
Subscription receivable                                                                (164,790)           --
Additional paid-in capital                                                              230,000         230,000
Retained earnings                                                                      (484,193)     (8,479,642)
                                                                                   ------------    ------------
      Total Stockholders' Equity                                                      6,473,837      (1,356,822)
                                                                                   ------------    ------------
                                                                                   $ 11,380,519    $  1,038,616
                                                                                   ============    ============
</Table>


SEE NOTES TO FINANCIAL STATEMENTS


                                       1
<Page>

                RETROSPETTIVA, INC. AND SUBSIDIARY
                     STATEMENTS OF OPERATIONS
                            (UNAUDITED)

<Table>
<Caption>
                                                     THREE MONTHS ENDED               SIX MONTHS ENDED
                                                          JUNE 30,                        JUNE 30,
                                                    2001            2000            2001            2000
                                                ------------    ------------    ------------    ------------
<S>                                             <C>             <C>             <C>             <C>


DISCONTINUED OPERATIONS

        Income (Loss) from operations             (7,702,090)       (410,542)     (7,813,783)       (390,521)

                                                ------------    ------------    ------------    ------------


NET (LOSS)                                      $ (7,702,090)   $   (410,542)   $ (7,813,783)   $   (390,521)
                                                ------------    ------------    ------------    ------------

NET (LOSS) PER SHARE, BASIC                     $      (2.21)   $      (0.13)   $      (2.25)   $      (0.12)
                                                ============    ============    ============    ============

WEIGHTED AVERAGE NUMBERS OF SHARES
        OUTSTANDING, BASIC AND DILUTED             3,479,916       3,177,916       3,479,916       3,177,916
                                                ============    ============    ============    ============
</Table>

SEE NOTES TO FINANCIAL STATEMENTS

                                       2

<Page>

                       RETROSPETTIVA, INC. AND SUBSIDIARY
                            STATEMENTS OF CASH FLOWS

                                   (UNAUDITED)

<Table>
<Caption>
                                                                                SIX MONTHS ENDED JUNE 30,
                                                                                  2000            2001
                                                                              ------------    ------------


<S>                                                                           <C>             <C>
CASH FLOWS FROM (TO) OPERATING ACTIVITIES

Net (loss)                                                                    $   (390,521)   $ (7,813,783)
     Adjustments to reconcile net (loss) to net cash
        provided (used) by operating activities:
        Bad debt expense                                                              --           164,790
        Depreciation and amortization                                               68,660          72,738
        Loss on product development costs                                          349,457            --
        Loss on factory equipment                                                     --           963,777
        Subscription receivable deemed uncollectible                                  --          (164,790)
        Changes in:
           Accounts receivable                                                    (266,978)       (119,856)
           Prepaid income taxes                                                    (12,058)        549,470
           Due from factor                                                         439,854          77,413
           Product development cost                                               (169,736)           --
           Advances to vendor                                                      124,362            --
           Inventories                                                           1,582,088       8,368,238
           Other                                                                      (550)           --
           Deferred tax assets                                                    (201,000)           --
           Accounts payable and accrued expenses                                (1,757,334)     (1,283,939)
           Accrued payroll taxes                                                     8,091          (2,455)
                                                                              ------------    ------------
                    Cash flows provided (used) by operating activities            (225,665)        811,603
                                                                              ------------    ------------

CASH FLOWS FROM (TO) INVESTING ACTIVITIES:

     Purchase of fixed assets                                                      (36,307)         (8,200)
     Stockholder loan repayments                                                   193,913         155,967
     Restricted investment                                                            --           300,000
     Payments on notes receivable                                                   18,000            --
                                                                              ------------    ------------
                    Cash flows provided by investing activities                    175,606         447,767
                                                                              ------------    ------------

CASH FLOWS FROM (TO) FINANCING ACTIVITIES:

     (Payments) proceeds from line of credit                                       188,193      (1,224,848)
     Due to vendor                                                                 104,588            --
     Other                                                                            --           (16,878)
                                                                              ------------    ------------
                    Cash flows provided (used) by financing activities             292,781      (1,241,726)
                                                                              ------------    ------------

NET INCREASE IN CASH                                                               242,722          17,644
CASH IN BANK, beginning of period                                                   85,857          26,069
                                                                              ------------    ------------
CASH IN BANK, end of period                                                   $    328,579    $     43,713
                                                                              ============    ============


Supplemental Disclosure of Cash Flow Information:
     Cash paid during the period for interest                                 $     93,755    $     92,156
                                                                              ============    ============
</Table>


SEE NOTES TO FINANCIAL STATEMENTS

                                       3
<Page>

                       RETROSPETTIVA, INC. AND SUBSIDIARY
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

NOTE 1 - BASIS OF PRESENTATION

The accompanying consolidated financial statements have been prepared in
accordance with generally accepted accounting principles for interim financial
information and in accordance with the instructions for Form 10-QSB.
Accordingly, they do not include all of the information and footnotes required
by generally accepted accounting principles for complete financial statements.

In the opinion of management, the consolidated financial statements contain all
material adjustments, consisting only of normal recurring adjustments necessary
to present fairly the financial condition, results of operations, and cash flows
of the Company for the interim periods presented.

The results for the three and six months ended June 30, 2001 are not necessarily
indicative of the results of operations for the full year. These financial
statements and related footnotes should be read in conjunction with the
financial statements and footnotes thereto included in the Company's Form 10-KSB
filed with the Securities and Exchange Commission for the year ended December
31, 2000.

NOTE 3 - RECENT DEVELOPMENTS

On July 2, 2001, the Company announced that recent events, primarily the war in
Macedonia, has forced the company to cease operations and attempt to liquidate
its assets.

The current civil war in Macedonia has prevented the Company from producing
goods there. The Company's day-to-day business has been interrupted by a lack
of electric power, shortages of water and fighting between Albanian rebels
and Macedonian forces that have reached the cities. This is preventing
employees from coming to work and making it practically impossible to produce
goods. As a result, the Company had lost most of its orders for goods, was
unable to ship completed goods and is unable to access its inventory in
Macedonia.

As a result of these events, the Company has suspended further operations and is
attempting to liquidate its assets in order to pay creditors. It is unlikely
that the Company will generate sufficient cash resources to continue in business
following the end of hostilities in Macedonia.

NOTE 2 - INVENTORIES

The Company did not have any inventory at June 30, 2001

The factories that housed a majority of the inventory and equipment owned by the
Company were recently destroyed. Attempts to locate usable inventory or
equipment was unsuccessful; therefore, these assets were reduced to a net
realizable value of zero.


                                       4
<Page>

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

GENERAL

The Company contracted for the manufacturing of a variety of garments, primarily
basic women's sportswear which includes suits, skirts, blouses, blazers, pants,
shorts, vests and dresses, using assorted fabrics including rayons, linens,
cotton and wool. The Company arranged for the manufacturing of garments for
customers under private labels selected by its customers. It marketed its
products exclusively in the United States directly to large wholesalers directly
and indirectly to national retailers and buying organizations, and directly to
women's chain clothing stores and catalogues.

Since early 2001, when hostilities commenced in Macedonia, the Company has
experienced a significant reduction in new purchase orders for its products.
This reduction in new purchase orders, together with a substantial loss incurred
by the Company for the three and six months ended June 30, 2001 and for the year
ended December 31, 2000, has required the Company to reduce its operations and
overhead expenses. Such overhead reductions have included the layoff of nine
employees and the reduction of general and administrative expenses in the amount
of approximately $500,000 on an annualized basis.

The Company is in default on its credit facility with the Imperial Bank. The
current amount outstanding on the credit facility is $1,049,528. The Company
anticipates paying the majority of the amount due under the credit facility
from its existing cash flow, during the third quarter of 2001.

Due to continuing hostilities in Macedonia continue, new purchase orders have
decreased significantly or were canceled and the Company has decided to cease
it's manufacturing operations. The Company intends to negotiate settlement of
its liablities.

Except for historical information contained herein, the matters set forth may
include forward-looking statements that are subject to risks and uncertainty
that may cause actual results to differ materially. Such forward-looking
statements that may be contained in this document could include in particular
statements concerning business back-logs, operating efficiencies and capacities,
capital spending, and other expenses. Among other factors that could cause
actual results to differ materially are the following; dependence upon
unaffiliated manufacturers and fabric suppliers, dependence on certain
customers, foreign operations, competition, risks associated with significant
growth, uncertainties in apparel industry, general economic conditions,
seasonality, political instability, concentration of accounts receivable and
possible fluctuations in operating results.

RESULTS OF OPERATIONS

The Company's main center for production is in Macedonia, which has been the
unfortunate victim to armed conflict for most of 2001. The President of the
Company visited Macedonia recently to evaluate possibilities of moving the
inventory and equipment to another location in another country. At the time of
his visit, most of the factories were closed and suspicions of looting were
considered. Many parts of the country were unreachable without exposing
personnel to serious harm and it was feared the roads were mined by terrorists.

On June 30, 2001 the Company decided to cease it's manufacturing operations. The
Company is unable to determine if a gain or loss is expected from the final
liquidation.

The financial statements reflect the discontinued operations for all periods
presented.

LIQUIDITY

The Company has 575,000 warrants outstanding with an exercise price of $7.50 per
warrant expiring September 23, 2002. The Company has 50,000 underwriter warrants
outstanding with an exercise price of $14.40 per unit. Each unit consists of two
shares of the Company's common stock and one warrant as described above. The
Company does not expect the warrants to be exercised in 2001. The Company is
dilligently working to collect on its receivables to further reduce the line
of credit.


                                       5
<Page>

The Company is utilizing its line of credit and its credit facility arrangement
with a New York factoring company. As of May 11, 2001 the Company was not in
compliance with the covenants of the loan and is negotiating repayment terms.

CAPITAL RESOURCES

Since its formation, the Company has financed its operations and met its capital
requirements primarily through its public offering, cash flows from operations,
customer advances, exercise of Stock Options and credit facilities.

As a result of the Macedonian hostilities, the Company's revenue stream has
been discontinued causing it to significantly cut all operations in order to
reduce overhead.

INFLATION

The Company does not anticipate a significant increase in inflation in the
United States over the short-term. All of the Company's transactions worldwide
are conducted on a dollar-denominated basis which is intended to mitigate the
possible impact of volatile currencies that may arise as a result of global
corporations crowding emerging markets in search of growth.

SEASONALITY

The Company's revenues and operating results have exhibited some degree of
seasonality in past periods. Typically, the Company experiences its highest
sales in the first and fourth quarters and its lowest sales in the second and
third quarters. In 2000 the Company experienced its highest sales in the first
and third quarters.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Not applicable

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

CHANGES IN SECURITIES

Not applicable

USE OF PROCEEDS

Not applicable

ITEM 3. DEFAULTS UPON SENIOR SECURITIES


                                       6
<Page>

Not applicable

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

Not applicable

ITEM 5. OTHER INFORMATION

Not applicable

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

Not applicable

                                   SIGNATURES

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

Date: 8-20-2001                         RETROSPETTIVA, INC.
                                        -------------------
                                           (Registrant)


                                        /s/ Hamid Vaghar
                                        -------------------------------
                                        Hamid Vaghar
                                        Chief Financial Officer
                                        (Principal Accounting Officer)


                                       7