Cut the broccoli florets into bite-size pieces and thinly slice the stems.
In a small bowl, combine the water, soy sauce, molasses, ginger and black pepper; set aside.
Spray an unheated large skillet with no-stick spray.
Heat the skillet over medium-high heat.
Add the broccoli to the skillet and stir-fry for 1 minute.
Add the red peppers and stir-fry for 3 to 4 minutes or until the vegetables are just tender.
Add the soy sauce mixture to the vegetables.
Gently toss until coated.