In sauté pan, heat oil; brown meatballs on all sides. Drain well on paper towels.
In a pan large enough to hold meatballs in one layer, bring water, lemon juice, pepper flakes and cinnamon to simmer. Add meatballs; simmer, covered, about 5 minutes or until meatballs are cooked through. Uncover and simmer until sauce is slightly thickened. Garnish with chopped cilantro.