UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                   FORM 10-QSB


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

       For the quarterly period ended March 31, 2006.

       OR

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

       For the transition period from                    to
                                      ------------------    ------------------


                       Commission File No. -- 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
                                                              -----     -----

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).

                                                          Yes   X    No
                                                              -----     -----

As of May 10, 2006, the Registrant had outstanding 8,961,017 shares of common
stock, par value $.00001

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, 2006 (unaudited)
         and September 30, 2005 (audited).................................  3

Statements of Operations (three-months ended March 31, 2006 and 2005).....  4

Statements of Operations (six-months ended March 31, 2006 and 2005).......  5

Statements of Cash Flows (six-months ended March 31, 2006 and 2005).......  6

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

Item 2.  Management's Discussion And Analysis or
           Plan Of Operation..............................................  9

Item 3.  Controls and Procedures..........................................  10


PART II - OTHER INFORMATION...............................................  11

Item 1.  Legal Proceedings................................................  11

Item 6.  Exhibits and Reports on Form 8-K.................................. 11

SIGNATURES................................................................. 13



                                        2
<PAGE>


                         PART I - FINANCIAL INFORMATION

Item 1.        Financial Statements

                                4NET SOFTWARE, INC.
                                 BALANCE SHEETS
<TABLE>
<CAPTION>
                                                                       March 31, 2006   September 30, 2005
                                                                         (Unaudited)         (Audited)
                                                ASSETS

<S>                                                                      <C>                <C>
CURRENT ASSETS
     Cash                                                                $    38,105        $    24,687
                                                                         -----------        -----------
TOTAL ASSETS                                                             $    38,105        $    24,687
                                                                         ===========        ===========


                                LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Accounts payable and accrued expenses                                 $     4,395        $     8,580
                                                                         -----------        -----------

TOTAL CURRENT LIABILITIES                                                      4,395              8,580
                                                                         -----------        -----------

COMMITMENTS AND CONTINGENCIES                                                     --                 --

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 -8,961,017 at March 31, 2006
             and 8,761,017 at September 30, 2005                                  90                 88
     Common Stock Subscribed, $.00001 par value; 200,000
             shares at September 30, 2005                                         --                  2
     Capital in excess of par value                                        3,168,258          3,168,258
     Accumulated deficit                                                  (3,134,638)        (3,122,241)
                                                                         -----------        -----------

 TOTAL EQUITY                                                                 33,710             46,107
                                                                         -----------        -----------
         Less stock subscriptions receivable                                      --            (30,000)
                                                                         -----------        -----------

 TOTAL LIABILITIES & STOCKHOLDERS' EQUITY                                $    38,105        $    24,687
                                                                         ===========        ===========
</TABLE>

              See accompanying notes to these financial statements.

                                        3
<PAGE>

                               4NET SOFTWARE, INC.
                            STATEMENTS OF OPERATIONS
                   THREE MONTHS ENDED MARCH 31, 2006 AND 2005
                                   (Unaudited)


                                                 2006           2005
                                             -----------    -----------

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

OPERATING EXPENSES
     General and Administrative                    7,395          3,913
                                             -----------    -----------
TOTAL OPERATING EXSPENSES                         (7,395)         3,913
                                             -----------    -----------

LOSS FROM OPERATIONS                              (7,395)        (4,465)
                                             -----------    -----------

OTHER INCOME

     Other Income                                    168            111
                                             -----------    -----------
TOTAL OTHER INCOME                                   168            111
                                             -----------    -----------

NET LOSS                                     $    (7,227)   $    (4,354)
                                             ===========    ===========


WEIGHTED AVERAGE NUMBER OF SHARES
OUTSTANDING-Basic and Dilutive                 8,961,017      8,761,017
                                             ===========    ===========

NET LOSS PER COMMON SHARE - Basic            $    (.0008)   $    (.0005)
                                             ===========    ===========



              See accompanying notes to these financial statements.

                                        4
<PAGE>

                               4NET SOFTWARE, INC.
                            STATEMENTS OF OPERATIONS
                    SIX MONTHS ENDED MARCH 31, 2006 AND 2005
                                   (Unaudited)


                                                 2006           2005
                                             -----------    -----------

REVENUES
     Contract Income                         $        -     $        -
                                             -----------    -----------

OPERATING EXPENSES
     General and Administrative                   12,781         17,187
                                             -----------    -----------
TOTAL OPERATING EXPENSES                          12,781         17,187
                                             -----------    -----------
LOSS FROM OPERATIONS                             (12,781)       (17,187)
                                             -----------    -----------

OTHER INCOME

     Other Income                                    384            263
                                             -----------    -----------
TOTAL OTHER INCOME                                   384            263
                                             -----------    -----------

NET LOSS                                     $   (12,397)   $   (16,924)
                                             ===========    ===========


WEIGHTED AVERAGE NUMBER OF SHARES
OUTSTANDING-Basic and Dilutive                 8,947,648      8,761,017
                                             ===========    ===========

NET LOSS PER COMMON SHARE - Basic            $     (.001)   $     (.002)
                                             ===========    ===========


              See accompanying notes to these financial statements.

                                        5
<PAGE>


                               4NET SOFTWARE, INC.
                            STATEMENTS OF CASH FLOWS
                    SIX MONTHS ENDED MARCH 31, 2006 AND 2005
                                   (Unaudited)

                                                            2006        2005
                                                         ---------   ---------

CASH FLOWS FROM OPERATING ACTIVITIES
    Net loss                                             $ (12,397)  $ (16,924)
Adjustments to reconcile net loss to net cash
used in operating activities:
    Changes in assets and liabilities:
       Decrease in accounts receivable                           -         553
       Decrease in accounts payable and accrued expenses    (4,185)     (3,347)
                                                         ---------   ---------
Net Cash Used in Operating Activities                      (16,582)    (19,718)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from sale of common stock                          30,000           -
                                                         ---------   ---------
Net Cash Provided by Financing Activities                   30,000           -
                                                         ---------   ---------

Net Increase (Decrease) in Cash                             13,418     (19,718)

CASH - BEGINNING OF PERIOD                                  24,687      54,311
                                                         ---------   ---------

CASH - END OF PERIOD                                     $  38,105   $  34,593
                                                         =========   =========



             See accompanying notes to these financial statements.

                                        6
<PAGE>

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, 2006 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, 2005.

          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, 2006, there
          were no cash equivalents.

          INCOME TAXES - The Company recognizes 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>

NOTE 1 -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)


          RECENT ACCOUNTING PRONOUNCEMENT

          In December 2004, the Financial Accounting Standards Board ("FASB")
          issued SFAS No. 123 (revised 2004), "Share-Based Payment." SFAS No.
          123 (revised 2004) now requires companies to recognize in the
          statement of operations the grant-date fair value of stock options and
          other equity- based compensation. That cost will be recognized over
          the period during which an employee is required to provide service in
          exchange for the award, usually the vesting period. Subsequent changes
          in fair value during the requisite service period, measured at each
          reporting date, will be recognized as compensation cost over that
          period. In April 2005, the SEC extended to effective date for SFAS No.
          123 (revised 2004) for public companies, to the beginning of a
          registrant's next fiscal year that begins after June 15, 2005. The
          Company adopted SFAS No. 123 (revised 2004) in its first quarter of
          fiscal 2006. Adoption of SFAS No. 123 (revised 2004) did not have a
          material impact on the Company's financial position or results of
          operations.



NOTE 2 -  STOCKHOLDERS' EQUITY

          On September 13, 2005, the Company entered into a stock purchase
          agreement with RAM Capital Management Trust I whereby the Company
          agreed to sell 200,000 restricted shares of its $0.00001 par value
          common stock at a purchase price of $0.15 per share. The Company
          received payment in the amount of $30,000 on October 12, 2005.

                                        8
<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, 2005, 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.


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 business (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, 2006 and 2005, the Company had
revenue of $- and $(552), respectively. Operating expenses for the three month
periods ended March 31, 2006 and 2005 were $7,395 and $3,913, respectively. For
the three month periods ended March 31, 2006 and 2005, the Company had net
operating losses of $7,395 and $4,465, respectively.

     For the six month periods ended March 31, 2006 and 2005, the Company had
revenue of $- and $-, respectively. Loss from operations and operating expenses
for the six month periods ended March 31, 2006 and 2005 were $12,781 and
$17,187, respectively.

                                        9
<PAGE>

Liquidity and Capital Resources

     During the three and six month periods ended March 31, 2006, the Company
satisfied its working capital needs from cash on hand at the beginning of the
period and proceeds from the sale of common stock. As of March 31, 2006, the
Company had cash on hand in the amount of $38,105. 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, 2005. 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 annual report on Form 10-KSB 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.

                                       10
<PAGE>


                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings

     During the quarter ended March 31, 2006, 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.)

                                    11
<PAGE>

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)

10.6#      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. (Incorporated by reference to Exhibit
           10.11 to the Company's Annual Report on Form 10-KSB for the fiscal
           year ended September 30, 2001)

10.12#     Letter of Intent, dated December 19, 2002 by and between the Company
           and NWT, Inc. (Incorporated by reference to Exhibit 10.12 to the
           Company's Annual Report on Form 10-KSB for the fiscal year ended
           September 30, 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)


                                       12
<PAGE>

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

10.16#      Stock Purchase Agreement, dated September 13, 2005, between
           4net Software, Inc. and RAM Capital Management Trust I.

14         Code of Ethics

31*        President's Written Certification Of Financial Statements
           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


     b. Reports on Form 8-K.

     On January 11, 2006, the Company filed an amended current report on Form
8-K/A, to amend the current report of Form 8-K filed by the Company on September
30, 2005, to reflect the proper closing date for the sale of common stock to RAM
Capital Management Trust I and, such report is incorporated herein by reference.


                                   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 thereunto duly authorized.


May 11, 2006

                                       4net Software, Inc.


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



                                       13
<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.















                                       14