UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                   FORM 10-QSB


                 [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                    For Quarterly Period Ended March 31, 2005

                                       OR

                 [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                For the transition period from _______ to _______


                      Commission file number: 33-131110-NY



                               4net Software, Inc.
         ---------------------------------------------------------------
        (Exact Name of Small Business Issuer as Specified in its Charter)


            DELAWARE                                   22-1895668
 -------------------------------                   ------------------
 (State or other jurisdiction of                    (I.R.S. Employer
  incorporation or organization)                    Identification No.)


                 100 Mill Plain Road, Danbury, Connecticut 06811
            ---------------------------------------------------------
                    (Address of Principal Executive Offices)


                                 (203) 791-3872
              ----------------------------------------------------
              (Issuer's Telephone Number, including area code)




Check whether the issuer (1) 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
                                                               ---     ---

As of May 12, 2005, there were issued and outstanding 8,761,018 shares of the
registrant's common stock, par value $.00001 per share.

Transitional Small Business Disclosure Format (check one):
Yes     No  X
   ---     ---

<PAGE>

                               4net Software, Inc

                                TABLE OF CONTENTS



                                                                        Page No.
                                                                        --------

PART I - FINANCIAL INFORMATION............................................  3

Item 1.  Financial Statements.............................................  3

Balance Sheets as of March 31, 2005 (unaudited)
         and September 30, 2004 (audited).................................  3

Statements of Operations (three-months ended March 31, 2005 and 2004).....  4

Statements of Operations (six-months ended March 31, 2005 and 2004).......  5

Statements of Cash Flows (six-months ended March 31, 2005 and 2004).......  6

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

Item 2.  Management's Discussion and Analysis or Plan of Operation........  8

Item 3.  Controls and Procedures..........................................  9


PART II - OTHER INFORMATION...............................................  10

Item 1.  Legal Proceedings................................................  10

Item 6.  Exhibits & Reports on Form 8-K...................................  10

SIGNATURES................................................................  12



                                        2
<PAGE>

                         PART I - FINANCIAL INFORMATION

Item 1.        Financial Statements


                                4NET SOFTWARE, INC.
                                 BALANCE SHEETS
<TABLE>
<CAPTION>
                                                                       March 31, 2005   September 30, 2004
                                                                         (Unaudited)         (Audited)
                                                ASSETS
<S>                                                                      <C>                <C>
CURRENT ASSETS
     Cash                                                                $    34,593        $    54,311
     Accounts receivable - other                                                   -                552
                                                                         -----------        -----------
TOTAL CURRENT ASSETS                                                          34,593             54,863
                                                                         -----------        -----------
TOTAL ASSETS                                                             $    34,593        $    54,863
                                                                         ===========        ===========


                                LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Accounts payable and accrued expenses                                 $     5,428        $     8,775
                                                                         -----------        -----------

TOTAL CURRENT LIABILITIES                                                      5,428              8,775
                                                                         -----------        -----------



STOCKHOLDERS' EQUITY
     Preferred stock, $.01 par value; authorized-5,000,000 shares
          Issued and outstanding - none                                           --                 --
     Common stock $.00001 par value; authorized-100,000,000 shares
          Issued and outstanding - 8,761,018                                      88                 88
     Capital in excess of par value                                        3,152,260          3,138,260
     Accumulated deficit                                                  (3,123,183)        (3,092,260)
                                                                         -----------        -----------

 TOTAL EQUITY                                                                 29,165             46,088
                                                                         -----------        -----------

 TOTAL LIABILITIES & STOCKHOLDERS' EQUITY                                $    34,593        $    54,863
                                                                         ===========        ===========
</TABLE>
              See accompanying notes to these financial statements.

                                        3
<PAGE>

                               4NET SOFTWARE, INC.
                            STATEMENTS OF OPERATIONS
                   THREE MONTHS ENDED MARCH 31, 2005 AND 2004
                                   (Unaudited)


                                                 2005           2004
                                             -----------    -----------

REVENUES
     Contract Income                         $      (552)   $       462
                                             -----------    -----------

OPERATING EXPENSES
     General and Administrative                    3,913         16,491
                                             -----------    -----------
TOTAL OPERATING EXSPENSES                          3,913         16,491
                                             -----------    -----------

LOSS FROM OPERATIONS                              (4,465)       (16,029)
                                             -----------    -----------

OTHER INCOME

     Other Income                                    111            52
                                             -----------    -----------
TOTAL OTHER INCOME                                   111            52
                                             -----------    -----------

NET LOSS                                     $    (4,354)   $   (15,977)
                                             ===========    ===========


WEIGHTED AVERAGE NUMBER OF SHARES
OUTSTANDING-Basic and Dilutive                 8,761,018      8,715,963
                                             ===========    ===========

NET LOSS PER COMMON SHARE - Basic            $    (.0005)   $     (.002)
                                             ===========    ===========



              See accompanying notes to these financial statements.

                                        4
<PAGE>


                               4NET SOFTWARE, INC.
                            STATEMENTS OF OPERATIONS
                    SIX MONTHS ENDED MARCH 31, 2005 AND 2004
                                   (Unaudited)


                                                 2005           2004
                                             -----------    -----------

REVENUES
     Contract Income                         $        -     $     1,104
                                             -----------    -----------

OPERATING EXPENSES
     General and Administrative                   17,187         22,274
                                             -----------    -----------
TOTAL OPERATING EXPENSES                          17,187         22,274
                                             -----------    -----------
LOSS FROM OPERATIONS                             (17,187)       (21,170)
                                             -----------    -----------

OTHER INCOME

     Other Income                                    263            141
                                             -----------    -----------
TOTAL OTHER INCOME                                   263            141
                                             -----------    -----------

NET LOSS                                     $   (16,923)   $   (21,029)
                                             ===========    ===========


WEIGHTED AVERAGE NUMBER OF SHARES
OUTSTANDING-Basic and Dilutive                 8,761,018      8,688,491
                                             ===========    ===========

NET LOSS PER COMMON SHARE - Basic            $     (.002)   $     (.002)
                                             ===========    ===========




              See accompanying notes to these financial statements.

                                        5
<PAGE>

                               4NET SOFTWARE, INC.
                            STATEMENTS OF CASH FLOWS
                    SIX MONTHS ENDED MARCH 31, 2005 AND 2004
                                   (Unaudited)

                                                            2005        2004
                                                         ---------   ---------

CASH FLOWS FROM OPERATING ACTIVITIES
    Net loss                                             $ (16,923)  $ (21,029)
Adjustments to reconcile net loss to net cash
used in operating activities:
    Changes in assets and liabilities:
       Decrease in accounts receivable                         552          90
       Decrease in other assets                                  -       3,834
       Decrease in accounts payable and accrued expenses    (3,347)    (18,818)
                                                         ---------   ---------
Net Cash Used in Operating Activities                      (19,718)    (35,923)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from sale of common stock                               -      25,000
                                                         ---------   ---------
Net Cash Provided by Financing Activities                        -      25,000
                                                         ---------   ---------

Net Decrease in Cash                                       (19,718)    (10,923)

CASH - BEGINNING OF PERIOD                                  54,311      72,537
                                                         ---------   ---------

CASH - END OF PERIOD                                     $  34,593   $  61,614
                                                         =========   =========



             See accompanying notes to these financial statements.

                                        6
<PAGE>

                               4NET SOFTWARE, INC.
                          NOTES TO FINANCIAL STATEMENTS


NOTE 1 -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

          The accompanying interim financial statements of 4net Software, Inc.
          (the Company) are unaudited. In the opinion of management, the interim
          data includes all adjustments, consisting only of normal recurring
          adjustments, necessary for a fair presentation of the results for the
          interim period. The results of operations for the three month period
          ended March 31, 2005 are not necessarily indicative of the operating
          results for the entire year.

          We have prepared the financial statements included herein pursuant to
          the rules and regulations of the Securities and Exchange Commission.
          Certain information and footnote disclosure normally included in
          financial statements prepared in accordance with accounting principles
          generally accepted in the United States of America have been condensed
          or omitted pursuant to such rules and regulations. We believe the
          disclosures made are adequate to make the information not misleading
          and recommend that these condensed financial statements be read in
          conjunction with the financial statements and notes included in our
          Form 10-KSB for the year ended September 30, 2004.

          REVENUE RECOGNITION - Effective September 1, 2002, the Company entered
          into an agreement wherein the Company transferred its clients and
          related revenues underlying its web contract management and
          syndication software operations to an unrelated entity. The Company
          received, as compensation for the assignment, royalty payments in the
          amount of 50% of the gross revenue, if any, generated by the assigned
          clients. After October 1, 2004 the Company no longer receives royalty
          payments under the assignment agreement.

          USE OF ESTIMATES - The preparation of financial statements in
          conformity with accounting principles generally accepted in the United
          States of America requires us to make estimates and assumptions that
          affect the reported amounts of assets and liabilities and disclosure
          of contingent assets and liabilities at the date of the financial
          statements and reported amounts of revenues and expenses during the
          reporting period. Actual results could differ from those estimates.

          CASH EQUIVALENTS - For purposes of reporting cash flows, we consider
          as cash equivalents all highly liquid investments with a maturity of
          three months or less at the time of purchase. At March 31, 2005, there
          were no cash equivalents.

          INCOME TAXES - We have adopted the provisions of SFAS No. 109,
          "Accounting for Income Taxes". SFAS 109 requires recognition of
          deferred tax liabilities and assets for the expected future tax
          consequences of events that have been included in the financial
          statements or tax returns. Under this method, deferred tax liabilities
          and assets are determined based on the difference between the
          financial statement and tax basis of assets and liabilities using
          enacted tax rates in effect for the year in which the difference are
          expected to reverse.

                                        7
<PAGE>

Item 2. Management's Discussion and Analysis or Plan of Operation


     The following discussion and analysis provides information which management
of 4net Software, Inc. (the "Company" or "4net Software") believes to be
relevant to an assessment and understanding of the Company's results of
operations and financial condition. This discussion should be read together with
the Company's financial statements and the notes to financial statements, which
are included in this report as well as the Company's Annual Report on Form
10-KSB for the year ended September 30, 2004, which is incorporated herein by
reference.


Prior Source of Revenue

     Since September 1, 2002, the Company's only source of revenues, other than
interest income, has been its receipt of a royalty fee pursuant to its
assignment agreement with New England Computer Group ("NECG"). A copy of the
assignment agreement with NECG is attached to the Company's Current Report on
Form 8-K, dated September 27, 2002, and is incorporated herein by reference.
Effective October 1, 2004, the Company ceased to receive a royalty fee pursuant
to the assignment agreement with NECG. Amounts reflected as revenues for the
quarter ended March 31, 2005 represent immaterial changes to first quarter
estimates based on actual results.


4net Software's Acquisition Strategy

     The Company is engaged in pursuing an Acquisition Strategy, whereby 4net
Software is seeking to enter into an acquisition, merger or other business
Combination transaction (a "Transaction") with an undervalued businesses (a
"Target Company") with a history of operating revenues in markets that provide
opportunities for growth. 4net Software is currently engaged in identifying,
investigating and, if investigation warrants, entering into a Transaction with a
Target Company that will enhance 4net Software's revenues and increase
shareholder value. The Company utilizes several criteria to evaluate Target
Companies including whether the Target Company: (1) is an established business
with viable services or products, (2) has an experienced and qualified
management team, (3) has opportunities for growth and/or expansion into other
markets, (4) is accretive to earnings, (5) offers the opportunity to achieve
and/or enhance profitability, and (6) increases shareholder value.

     In some cases, management of the Company will have the authority to effect
acquisitions without submitting the proposal to the stockholders for their
consideration. In some instances, however, a proposed Transaction may be
submitted to the stockholders for their consideration, either voluntarily by the
Board of Directors to seek the stockholders' advice and consent, or because of a
requirement of applicable law to do so.


Results Of Operations

     For the three month periods ended March 31, 2005 and 2004, the Company had
revenue of $ - and $462, respectively. Operating expenses for the three month
period ended March 31, 2005 and 2004 were $3,913 and $16,491, respectively. For
the three month periods ended March 31, 2005 and 2004, the Company had net
operating losses of $4,465 and $16,029, respectively.

     For the six month periods ended March 31, 2005 and 2004, the Company had
revenue of $ - and $1,104, respectively. Operating expenses for the six month
periods ended March 31, 2005 and 2004 were $17,187 and $22,274, respectively.
For the six month periods ended March 31, 2005 and 2004, the Company had net
operating losses of $17,187 and $21,170, respectively.

                                        8
<PAGE>

Liquidity and Capital Resources

     During the three month period ended March 31, 2005, the Company satisfied
its working capital needs from cash on hand at the beginning of the period and
interest income. As of March 31, 2005, the Company had cash on hand in the
amount of $34,593. The Company will need additional funds in order to effectuate
its business strategy. There is no assurance that the Company will be able to
obtain such additional funds, when needed. Even if the Company is able to obtain
additional funds there is no assurance that the Company will be able to
effectuate its plan of operations.

     Management believes that the successful implementation of the Company's
acquisition strategy will allow 4net Software to increase revenues and earnings
and achieve profitability. However, there can be no assurances that 4net
Software will successfully complete any Transaction or that if 4net Software can
complete a Transaction that the business of the Target Company will enable 4net
Software to achieve profitability.


Forward Looking Statements Disclosure
-------------------------------------

     This report on Form 10-QSB contains, in addition to historical information,
Forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the
"Exchange Act"). You can identify these forward-looking statements when you see
words such as "expect," "anticipate," "estimate," "may," "plans," "believe," and
other similar expressions. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and assumptions that
are difficult to predict. Actual results could differ materially from those
projected in the forward-looking statements. Factors that could cause such a
difference include, but are not limited to, those discussed in the section
entitled "Factors Affecting Operating Results and Market Price of Stock,"
contained in the Company's Annual Report on Form 10-KSB for the year ended
September 30, 2004. Readers are cautioned not to place undo reliance on these
forward-looking statements, which speak only as of the date hereof. We undertake
no obligation to update any forward-looking statements.


Item 3. Controls and Procedures

     Disclosure controls and procedures are controls and other procedures that
are designed to ensure that information required to be disclosed by us in the
reports that we file or submit under the Exchange Act is recorded, processed,
summarized and reported, within the time periods specified in the Securities and
Exchange Commission's rules and forms. Disclosure controls and procedures
include, without limitation, controls and procedures designed to ensure that
information required to be disclosed by us in the reports that we file under the
Exchange Act is accumulated and communicated to our management, including our
principal executive and financial officer, as appropriate to allow timely
decisions regarding required disclosure.

     Evaluation of disclosure and controls and procedures. Based on their
evaluation of the Company's disclosure controls and procedures (as defined in
Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the
period covered by this quarterly annual report on Form 10-QSB the Company's
chief executive officer has concluded that the Company's disclosure controls and
procedures are designed to ensure that information required to be disclosed by
the Company in the reports that it files or submits under the Exchange Act is
recorded, processed, summarized and reported within the time periods specified
in the SEC's rules and forms and are operating in an effective manner.

     Changes in internal controls over financial reporting. There were no
changes in the Company's internal controls over financial reporting or in other
factors that have materially affected, or are reasonably likely to materially
affect, the Company's internal control over financial reporting.

                                        9
<PAGE>


                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings

     During the quarter ended March 31, 2005, the Company was not a party to any
material legal proceedings.


Item 6. Exhibits and Reports On Form 8-K

     a. Exhibits

     The following exhibits are hereby filed as part of this Quarterly Report on
Form 10-QSB or incorporated herein by reference.

Exhibit
Number     Description of Document
-------------------------------------------------------------------------------
2.1#       Stock Purchase Agreement by and between Michael Park, Andrew
           Patros and Robert Park and MedTech Diagnostics, Inc. dated April
           24, 2000. (Incorporated by reference to Exhibit 2.1 to the
           Current Report on Form 8-K filed by the Company on May 3, 2000.)

3.1#       Certificate of Incorporation of the Company. (Incorporated by
           reference to Exhibit 3.1 to the Company's Annual Report on Form
           10-KSB for the fiscal year ended September 30, 1999)

3.2#       By-Laws of the Company. (Incorporated by reference to Exhibit
           3.2 to the Company's Annual Report on Form 10-KSB
           for the fiscal year ended September 30, 1999)

3.3#       Certificate of Amendment to the Certificate of Incorporation of
           the Company. (Incorporated by reference to Exhibit 3.3 to the
           Company's Quarterly Report on Form 10-QSB for the quarter ended June
           30, 2000)

3.4#       Amended and Restated By-Laws of the Company. (Incorporated by
           reference to Exhibit 3.4 to the Company's Quarterly Report on Form
           10-QSB for the quarter ended June 30, 2000)

3.5#       Certificate of Merger between the Company and its wholly owned
           subsidiary 4net Software, Inc. (Incorporated by reference to Exhibit
           3.5 to the Company's Quarterly Report on Form 10-QSB for the quarter
           ended March 31, 2001.)

3.6#       Amended Certificate of Designation of the Series A Convertible
           Preferred Stock of 4net Software, Inc. (Incorporated by reference to
           Exhibit 3.6 to the Company's Quarterly Report on Form 10-QSB for the
           quarter ended March 31, 2001.)

10.3#@     Employment Agreement dated as of August 1, 2000 by and between
           the Company and Steven N. Bronson. (Incorporated by reference to
           Exhibit 10.3 to the Company's Quarterly Report on Form 10-QSB
           for the quarter ended June 30, 2000.)

10.4#@     Employment Agreement dated as of August 1, 2000 by and between the
           Company and Robert Park. (Incorporated by reference to Exhibit 10.4
           to the Company's Quarterly Report on Form 10-QSB for the quarter
           ended June 30, 2000.)

10.5#      Sublease dated as of February 1, 2001 by and between the Company and
           Catalyst Operations, Inc. (Incorporated by reference to Exhibit 10.5
           to the Company's Quarterly Report on Form 10-QSB for the quarter
           ended March 31, 2001)


                                       10
<PAGE>


10.6#      Management Consulting Agreement, dated as of February 1, 2001 by and
           between the Company and Catalyst Financial LLC. (Incorporated by
           reference to Exhibit 10.6 to the Company's Quarterly Report on Form
           10-QSB for the quarter ended March 31, 2001)

10.7#      Mergers and Acquisitions Advisory Agreement, dated as of March 27,
           2001 by and between the Company and Catalyst Financial LLC.
           (Incorporated by reference to Exhibit 10.7 to the Company's Quarterly
           Report on Form 10-QSB for the quarter ended March 31, 2001)

10.8#      Placement Agent Agreement, dated as of April 30, 2001, by and between
           the Company and Catalyst Financial LLC. (Incorporated by reference to
           Exhibit 10.8 to the Company's Quarterly Report on Form 10-QSB for the
           quarter ended March 31, 2001)

10.9#      Placement Agent Agreement, dated as of July 2, 2001, by and between
           the Company and Catalyst Financial LLC. (Incorporated by reference to
           Exhibit 10.8 to the Company's Quarterly Report on Form 10-QSB for the
           quarter ended June 30, 2001)

10.10#@    Employment Agreement, dated as of July 1, 2001 by and between
           the Company and Steven N. Bronson.  (Incorporated by reference
           to Exhibit 10.8  to the Company's Quarterly Report on Form 10-QSB
           for the quarter ended June 30, 2001)

10.11#     Separation Agreement, dated as of September 21, 2001 by and between
           the Company and Michael Park, which is attached hereto as an exhibit
           and is incorporated herein by reference. (Incorporated by reference
           to Exhibit 10.8 to the Company's Annual Report on Form 10-KSB for the
           fiscal year ended September 30, 2001)

10.12#     Common Stock Purchase Warrant to purchase 82,000 shares of common
           stock at a purchase price of $.50 per share issued to Catalyst
           Financial LLC. (Incorporated by reference to Exhibit 10.12 to the
             Company's Quarterly Report on Form 10-QSB for the quarter ended
           March 31, 2002)

10.13#     First Amendment to Sublease between Catalyst Operation, Inc. and
           4networld.com, Inc. n/k/a 4net Software, Inc. made as of
           August 30, 2002. (Incorporated by reference to Exhibit 10.13 to the
             Company's Current Report on Form 8-K, dated September 27, 2002)

10.14#     Assignment Agreement, dated as of September 18, 2002, between
           4net Software, Inc. and New England Computer Group, Inc.
           (Incorporated by reference to Exhibit 10.14 to the Company's Current
           Report on Form 8-K, dated September 27, 2002)

10.15      Consulting Agreement, dated December 17, 2003 between the Company and
           ETN Financial Services, Inc.

14         Code of Ethics

31*        President's Statement Pursuant to Section 302 of the Sarbanes-Oxley
           Act of 2002.

32*        President's Written Certification Of Financial Statements
           Pursuant to 18 U.S.C. Statute 1350.

-------------------------------------
*    Filed herewith
#    Incorporated herein by reference
@    Represents a management contract


                                 11
<PAGE>


     b. Reports on Form 8-K.

        On January 14, 2005, the Company filed a current report on Form 8-K,
disclosing a change of its independent auditors, such report is incorporated
herein by reference.




                                   SIGNATURES


     In accordance with the requirements of the Exchange Act, the Registrant has
duly caused this report to be signed on its behalf by the Undersigned, thereunto
duly authorized.


May 13, 2005

                                       4net Software, Inc.


                                     By: /s/ Steven N. Bronson
                                         -----------------------------------
                                         Steven N. Bronson, President
                                         Principle Executive Officer
                                         as Registrant's duly authorized officer


                                       12
<PAGE>


                                  EXHIBIT INDEX


The following Exhibits are filed herewith:

Exhibit
Number      Description of Document
------      -----------------------
31          President's Statement Pursuant to Section 302 of the Sarbanes-Oxley
            Act of 2002.

32          President's Written Certification Of Financial Statements
            Pursuant to 18 U.S.C. Statute 1350.








                                       13