Make the sauce: Whisk all ingredients in a small saucepan. Bring to a boil, then reduce heat and simmer for about 2-3 minutes, until thick enough to coat the back of a spoon. Set aside.
Make the meatballs: Preheat the oven to 350 degrees F. Line a large baking sheet with parchment paper.
In a large bowl, combine all ingredients and use your hands to form even balls roughly 1-inch in diameter. Place them on the prepared baking sheet and bake them for 12 to 15 minutes, or until cooked through.
Serve the meatballs with sauce, either for dipping as an appetizer, or on top, as an entree.