SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  FORM 10-QSB/A

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


                      FOR QUARTER ENDED SEPTEMBER 30, 2000

                                       OR

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


                         Commission file number 0-18410



                                NETCURRENTS, INC.
             (Exact name of Registrant as specified in its charter)


              DELAWARE                                     95-4233050
   (State or other jurisdiction of                      (I.R.S. Employer
   incorporation or organization)                      Identification No.)

             9720 WILSHIRE BLVD., SUITE 700, BEVERLY HILLS, CA 90212
               (Address of Principal Executive Offices) (Zip Code)

                                 (310) 860-0200
              (Registrant's Telephone Number, Including Area Code)


Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 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 the number of shares outstanding of each of the Issuer's classes of
common stock, as of the latest practicable date.

     Common Stock, $.001 par value 32,484,365 shares as of October 31, 2000


<PAGE>


                                NETCURRENTS, INC.

     This amendment to the Company's Quarterly Report for the period ended
September 30, 2000, is being filed to correct a typographical error which stated
that the basic diluted loss per share for the three months ended September 30,
1999, was $0.67. The correct figure is $0.07.


                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                          PAGE
                                                                         NUMBER
<S>        <C>                                                           <C>
PART I     FINANCIAL INFORMATION

           ITEM 1.  Financial Information

           Consolidated Balance Sheet as of September 30, 2000
           and December 31, 1999...........................................3

           Consolidated Statements of Operations For The
           Three Months Ended September 30, 2000 and 1999
           and for the Nine Months Ended September 30, 2000 and 1999.......5

           Consolidated Statements of Shareholders' Equity
           For the Nine Months Ended September 30, 2000....................7

           Consolidated Statements of Cash Flows
           For the Nine Months Ended September 30, 2000
           and September 30, 1999..........................................9

           Notes to Consolidated Financial Statements.....................11
</TABLE>


                                     Page 2
<PAGE>


                                              NETCURRENTS, INC. AND SUBSIDIARIES
                                                     CONSOLIDATED BALANCE SHEETS
                  SEPTEMBER 30, 2000 (UNAUDITED) AND DECEMBER 31, 1999 (AUDITED)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>                                     ASSETS

                                                                       September 30,       December 31,
                                                                           2000                1999
                                                                      ---------------    ----------------
                                                                        (UNAUDITED)
CURRENT ASSETS
<S>                                                                   <C>                <C>
     Cash and cash equivalents                                        $     4,886,751    $        798,855
     Accounts receivable, net of allowance for doubtful
         accounts of nil and nil                                              433,123             555,667
     Prepaid advertising expenses                                                   -             583,392
     Prepaid assets                                                            66,532              40,342
     Subscription receivable                                                        -             200,000
                                                                      ---------------    ----------------

              Total current assets                                          5,386,406           2,178,256

FILM COSTS                                                                    224,986             224,988
FIXED ASSETS, at cost, net                                                    800,233             131,559
GOODWILL, less accumulated amortization of $211,782
     and $144,282                                                             774,413             841,913
INVESTMENTS                                                                   281,000             725,050
OTHER ASSETS                                                                   31,213              38,043
                                                                      ---------------    ----------------

                  TOTAL ASSETS                                        $     7,498,251    $      4,139,809
                                                                      ===============    ================
</TABLE>


                                     Page 3
<PAGE>


                                              NETCURRENTS, INC. AND SUBSIDIARIES
                                                     CONSOLIDATED BALANCE SHEETS
                  SEPTEMBER 30, 2000 (UNAUDITED) AND DECEMBER 31, 1999 (AUDITED)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                      LIABILITIES AND SHAREHOLDERS' EQUITY

                                                                         September 30,       December 31,
                                                                              2000               1999
                                                                        ---------------    ----------------
                                                                         (UNAUDITED)
CURRENT LIABILITIES
<S>                                                                     <C>                <C>
     Accounts payable and accrued expenses                              $       767,611    $      1,202,141
     Dividends payable                                                          130,713             108,313
     Due to related parties                                                           -              44,046
     Capital lease obligation                                                         -               4,320
     Convertible debentures                                                           -             619,824
     Deferred revenue                                                                 -              63,025
                                                                        ---------------    ----------------

         Total current liabilities                                              898,324           2,041,669

              Total liabilities                                                 898,324           2,041,669
                                                                        ---------------    ----------------
COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY
     Preferred stock, Series A, C, D, E, and F, $0.001 par value
         5,400,000 shares authorized
         1,100,000 and 2,625,000 shares issued and outstanding                    1,100               2,625
     Preferred stock, Series G, $0.001 par value
         4,000 shares authorized
         30 and 1,875 shares issued and outstanding                              30,000           1,875,000
     Common stock, $0.001 par value
         50,000,000 shares authorized
         32,151,004 and 23,070,869 shares issued and outstanding                 32,151              23,071
     Treasury stock, at cost
         93,536 shares                                                       (1,010,192)         (1,010,192)
     Subscription receivable                                                 (4,165,539)           (398,800)
     Additional paid-in capital                                              47,412,078          30,704,372
     Accumulated other comprehensive income                                    (173,313)            225,050
     Accumulated deficit                                                    (35,526,358)        (29,322,986)
                                                                        ---------------    ----------------

              Total shareholders' equity                                      6,599,927           2,098,140
                                                                        ---------------    ----------------

                  TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY            $     7,498,251    $      4,139,809
                                                                        ===============    ================
</TABLE>


                                     Page 4
<PAGE>


                                              NETCURRENTS, INC. AND SUBSIDIARIES
                                           CONSOLIDATED STATEMENTS OF OPERATIONS
              FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999 (UNAUDITED)
           AND FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999 (UNAUDITED)

--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                       For the Three Months Ended                For the Nine Months Ended
                                                              September 30,                            September 30,
                                                  --------------------------------------    -------------------------------------
                                                        2000                 1999                 2000                1999
                                                  ------------------   -----------------    -----------------   -----------------
                                                     (unaudited)         (unaudited)          (unaudited)         (unaudited)

<S>                                               <C>                 <C>                   <C>                 <C>
REVENUES                                                   $477,103            $120,251           $1,089,883          $2,655,904

COSTS OF SALES
Costs of projects sold                                            -               3,009                    -             839,132
Write-off projects in development                                 -                   -                    -             301,037
                                                  ------------------   -----------------    -----------------   -----------------

NET REVENUES                                                477,103             117,242            1,089,883           1,515,735

SELLING GENERAL AND ADMINISTRATIVE
Recovery of accounts receivable                            (137,658)                  -             (137,658)                  -
Salaries and Benefits                                     1,363,431                   -            2,500,633                   -
Selling and Marketing Expenses                               94,625                   -            1,231,467                   -
Professional Fees                                           330,879                   -              854,713                   -
Consulting Fees                                             134,764                   -              569,109                   -
Occupancy Costs                                              95,114                   -              206,330                   -
General and administrative expenses                         490,217             893,299            1,756,720           2,253,725
                                                  ------------------   -----------------    -----------------   -----------------
                                                          2,371,012             893,299            6,981,314           2,253,725

LOSS FROM OPERATIONS                                     (1,893,909)           (776,057)          (5,891,431)           (737,990)
                                                  ------------------   -----------------    -----------------   -----------------

OTHER INCOME (EXPENSE)
   Interest and dividend income                             112,028                   -              340,622               1,753
   Interest and financing expense                            (1,681)                  -               (8,742)            (12,447)
   Write-off of notes receivable and
        other assets                                        (31,790)                  -              (87,195)           (166,965)
   Amortization of goodwill                                 (22,500)            (22,500)             (67,500)            (46,782)
   Settlement expense                                       (57,151)                  -             (294,551)                  -
   Gain on sale of investment                                     -                   -              168,250                   -
   Other income (expense)                                    (5,390)                  -                  485             (11,098)
                                                  ------------------   -----------------    -----------------   -----------------

         Total other income (expense)                        (6,484)            (22,500)              51,369            (235,539)
                                                  ------------------   -----------------    -----------------   -----------------
</TABLE>


                                     Page 5
<PAGE>


                                              NETCURRENTS, INC. AND SUBSIDIARIES
                                           CONSOLIDATED STATEMENTS OF OPERATIONS
              FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999 (UNAUDITED)
           AND FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999 (UNAUDITED)

--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                       For the Three Months Ended             For the Nine Months Ended
                                                             September 30,                          September 30,
                                                   ------------------------------------- -----------------------------------
                                                          2000               1999               2000                1999
                                                   --------------------- --------------- -------------------- --------------
                                                      (unaudited)         (unaudited)      (unaudited)        (unaudited)
<S>                                                <C>                   <C>             <C>                  <C>
LOSS BEFORE PROVISION FOR INCOME TAXES                       (1,900,393)       (798,557)          (5,840,062)      (973,529)

PROVISION FOR INCOME TAXES                                            -         (14,744)             (20,097)       (14,744)
                                                   --------------------- --------------- -------------------- --------------

NET  (LOSS)                                                 $(1,900,393)      $(813,301)         $(5,860,159)     $(958,785)

DIVIDEND REQUIREMENT OF SERIES A PREFERRED STOCK               (106,250)       (106,250)            (318,750)      (318,750)
DIVIDEND REQUIREMENT OF SERIES E PREFERRED STOCK                      -               -                    -        (66,250)
DIVIDEND REQUIREMENT OF SERIES G PREFERRED STOCK                 (2,213)              -              (24,463)             -
                                                   --------------------- --------------- -------------------- --------------

 (LOSS) APPLICABLE TO COMMON SHAREHOLDERS                    (2,008,856)       (919,551)          (6,203,372)   $(1,343,785)

UNREALIZED (LOSS) ON INVESTMENT                                 (81,200)              -             (398,363)             -
                                                   --------------------- --------------- -------------------- --------------

COMPREHENSIVE INCOME (LOSS) APPLICABLE TO COMMON
SHAREHOLDERS                                               $ (2,090,056)     $ (919,551)       $ (6,,601,735)   $(1,343,785)
                                                   ===================== =============== ==================== ==============

BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE                $ (0.07)        $ (0.07)             $ (0.22)       $ (0.10)
                                                   ===================== =============== ==================== ==============

WEIGHTED-AVERAGE NUMBER OF COMMON SHARES
         OUTSTANDING BASIC AND FULLY DILUTED                 30,674,692      13,683,659           30,674,692     13,683,659
                                                   ===================== =============== ==================== ==============
</TABLE>


                                     Page 6
<PAGE>


                                              NETCURRENTS, INC. AND SUBSIDIARIES
                                 CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
                        FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 (UNAUDITED)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                                              PREFERRED STOCK
                                  --------------------------------------------------------------------------------
                                     SERIES A, C, D, E, AND F                               SERIES G
                                  -----------------------------------         --------------------------
                                      SHARES             AMOUNT                      SHARES            AMOUNT
                                  -----------------  -----------------        -----------------  -----------------
<S>                               <C>                <C>                      <C>                <C>
BALANCE, DECEMBER 31, 1999             2,625,000     $    2,625                      1,875        $    1,875,000
ISSUANCE OF COMMON SHARES
         IN PAYMENT OF
         DIVIDENDS ON SERIES A
         PREFERRED STOCK
ISSUANCE OF COMMON
         STOCK FOR THE
         EXERCISE OF WARRANTS
ISSUANCE OF COMMON STOCK
         FOR PRIVATE PLACEMENT
ISSUANCE OF SERIES G
         PREFERRED STOCK                                                             1,090             1,090,000
ISSUANCE OF SERIES E
         PREFERRED STOCK
RETIREMENT OF COMMON STOCK
           GROSSO-JACOBSON
ISSUANCE OF COMMON
         STOCK FOR EXERCISE
         OF OPTIONS
ISSUANCE OF COMMON
         STOCK FROM THE
         PREFERRED SERIES F
         CONVERSION                     (225,000)          (225)
ISSUANCE OF COMMON STOCK
         FROM THE PREFERRED
         SERIES G CONVERSION                                                        (2,935)           (2,935,000)
</TABLE>
<TABLE>
<CAPTION>
                                                   COMMON STOCK
                                   ------------------------------------       TREASURY      SUBSCRIPTION
                                       SHARES                AMOUNT            STOCK         RECEIVABLE
                                   ------------------    --------------    --------------   ------------
<S>                                <C>                   <C>               <C>              <C>
BALANCE, DECEMBER 31, 1999           23,070,869            $  23,071       $  (1,010,192)   $   (398,800)
ISSUANCE OF COMMON SHARES IN
         PAYMENT OF DIVIDENDS ON
         SERIES A PREFERRED STOCK       105,013                  105
ISSUANCE OF COMMON
         STOCK FOR THE
         EXERCISE OF WARRANTS           151,583                  152
ISSUANCE OF COMMON
         STOCK FOR PRIVATE
         PLACEMENT                    1,700,000                1,700
ISSUANCE OF SERIES G
         PREFERRED STOCK
ISSUANCE OF SERIES E
         PREFERRED STOCK
RETIREMENT OF COMMON STOCK
           GROSSO-JACOBSON             (328,286)                (328)
ISSUANCE OF COMMON
         STOCK FOR EXERCISE
         OF OPTIONS                   1,497,161                1,497                          (1,190,385)
ISSUANCE OF COMMON
         STOCK FROM THE
         PREFERRED SERIES F
         CONVERSION                     225,000                  225
ISSUANCE OF COMMON
         STOCK FROM THE
         PREFERRED SERIES G
         CONVERSION                   2,336,318                2,336
</TABLE>
<TABLE>
<CAPTION>
                                                        ACCUMULATED
                                                          OTHER
                                     ADDITIONAL          COMPRE-
                                      PAID-IN            HENSIVE       ACCUMULATED
                                      CAPITAL            INCOME          DEFICIT          TOTAL
                                    ------------------ -------------  ---------------  ---------------
<S>                                 <C>                 <C>           <C>               <C>
BALANCE, DECEMBER 31, 1999          $  30,704,372       $  225,050    $  (29,322,986)   $  2,098,140
ISSUANCE OF COMMON SHARES IN
         PAYMENT OF DIVIDENDS ON
         SERIES A PREFERRED STOCK         318,645                                            318,750
ISSUANCE OF COMMON
         STOCK FOR THE
         EXERCISE OF WARRANTS             212,308                                            212,460
ISSUANCE OF COMMON
         STOCK FOR PRIVATE
         PLACEMENT                      7,648,300                                          7,650,000
ISSUANCE OF SERIES G
         PREFERRED STOCK                                                                   1,090,000
ISSUANCE OF SERIES E
         PREFERRED STOCK
RETIREMENT OF COMMON STOCK
           GROSSO-JACOBSON                    328                                                  -
ISSUANCE OF COMMON
         STOCK FOR EXERCISE
         OF OPTIONS                     2,094,629                                            905,741
ISSUANCE OF COMMON
         STOCK FROM THE
         PREFERRED SERIES F
         CONVERSION                       311,525                                            311,525
ISSUANCE OF COMMON STOCK
         FROM THE PREFERRED
         SERIES G CONVERSION            2,932,664                                                  -
</TABLE>


                                     Page 7
<PAGE>


                                              NETCURRENTS, INC. AND SUBSIDIARIES
                                 CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
                        FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 (UNAUDITED)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                                      PREFERRED STOCK
                                  -----------------------------------------------------------------
                                     SERIES A, C, D, E, AND F                   SERIES G
                                  -----------------------------------  ---------------------
                                      SHARES            AMOUNT          SHARES            AMOUNT
                                  -----------------  --------------    -----------------  ---------
<S>                                <C>               <C>               <C>                <C>
ISSUANCE OF COMMON
         STOCK FOR CONVERSION
         OF SERIES C PREFERRED
         STOCK FOR EXERCISE
         OF OPTIONS                 (1,300,000)      $       (1,300)                      $
ISSUANCE OF COMMON
         STOCK FOR
         SETTLEMENT
ISSUANCE OF COMMON
         STOCK FOR CONVERSION
         DEBENTURES
DIVIDENDS PAID ON
         SERIES A PREFERRED
         STOCK
DIVIDENDS PAID ON
         SERIES G PREFERRED
         STOCK
UNREALIZED LOSS ON
         INVESTMENT
INTEREST ON SUBSCRIPTION
    RECEIVABLE
NET LOSS
                                  ------------       --------------    -----------        ----------
BALANCE, SEPT 30,2000                1,100,000       $        1,100             30        $   30,000
                                  ============       ==============    ===========        ==========
</TABLE>
<TABLE>
<CAPTION>
                                               COMMON STOCK
                               ------------------------------------          TREASURY      SUBSCRIPTION
                                   SHARES                 AMOUNT              STOCK         RECEIVABLE
                               ------------------      -----------------   -----------   -----------------
<S>                            <C>                     <C>                <C>            <C>
ISSUANCE OF COMMON
         STOCK FOR CONVERSION
         OF SERIES C PREFERRED
         STOCK FOR EXERCISE
         OF OPTIONS                 2,800,000           $   2,800         $               $ (2,540,958)
ISSUANCE OF COMMON
         STOCK FOR
         SETTLEMENT                    80,000                  80
ISSUANCE OF COMMON
         STOCK FOR CONVERSION
         DEBENTURES                   513,346                 513
DIVIDENDS PAID ON
         SERIES A PREFERRED
         STOCK
DIVIDENDS PAID ON
         SERIES G PREFERRED
         STOCK
UNREALIZED LOSS ON
         INVESTMENT
INTEREST ON SUBSCRIPTION
    RECEIVABLE                                                                                 (35,396)
NET LOSS
                               -------------------     ---------------   --------------   -------------------
BALANCE, SEPT 30,2000              32,151,004          $   32,151         $ (1,010,192)     (4,165,539)
                               ===================     ===============   ==============   ===================
</TABLE>
<TABLE>
<CAPTION>
                                                ACCUMULATED
                                                  OTHER
                                 ADDITIONAL       COMPRE-
                                  PAID-IN         HENSIVE      ACCUMULATED
                                  CAPITAL         INCOME         DEFICIT           TOTAL
                              --------------   ------------   -------------   -------------
<S>                           <C>               <C>           <C>              <C>
ISSUANCE OF COMMON
         STOCK FOR CONVERSION
         OF SERIES C PREFERRED
         STOCK FOR EXERCISE
         OF OPTIONS           $    2,448,500    $             $                $   (90,958)
ISSUANCE OF COMMON
         STOCK FOR
         SETTLEMENT                   96,320                                        96,400
ISSUANCE OF COMMON
         STOCK FOR CONVERSION
         DEBENTURES                  644,487                                       645,000
DIVIDENDS PAID ON
         SERIES A PREFERRED
         STOCK                                                    (318,750)       (318,750)
DIVIDENDS PAID ON
         SERIES G PREFERRED
         STOCK                                                     (24,463)        (24,463)
UNREALIZED LOSS ON
         INVESTMENT                               (398,363)                       (398,363)
INTEREST ON SUBSCRIPTION
    RECEIVABLE                                                                     (35,396)
NET LOSS                                                        (5,860,159)     (5,860,159)
                              --------------    -----------   -------------       ---------
BALANCE, SEPT 30,2000         $   47,387,128    $ (173,313)   $(35,526,358)    $ 6,599,927
                              ==============    ===========   =============    ============
</TABLE>


                                     Page 8
<PAGE>


                                              NETCURRENTS, INC. AND SUBSIDIARIES
                                           CONSOLIDATED STATEMENTS OF CASH FLOWS
 FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND SEPTEMBER 30, 1999 (UNAUDITED)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                                                         For the                       For the
                                                                       Nine Months                   Nine Months
                                                                          Ended                         Ended
                                                                      September 30,                 September 30,
                                                                          2000                          1999
                                                                         ------                        ------
                                                                       (unaudited)                   (unaudited)
<S>                                                                <C>                          <C>
CASH FLOWS FROM OPERATING ACTIVITIES

Net loss                                                           $      (5,860,159)            $    (958,785)
   Adjustments to reconcile net loss to net cash
     used in operating activities
       Depreciation and amortization of fixed assets                         113,452                    84,316
       Write-off o projects in development                                         -                   301,037
       Amortization of goodwill                                               67,500                    46,782
       Amortization of acquisition costs                                           -                    (5,320)
       Write-off of notes receivable and other assets                              -                   654,428
       Issuance of common stock for services                                       -                   280,000
       Issuance of common stock for settlement                                96,400                         -
       Gain on sale of investments                                          (168,250)                        -
   (Increase) decrease in
     Accounts receivable                                                     122,672                 1,498,802
     Other assets and prepaid expenses                                       (19,360)                  (48,938)
     Prepaid advertising expenses                                            583,392                         -
   Increase (decrease) in
     Accounts payable and accrued expenses                                  (434,527)               (2,741,572)
     Deferred revenue                                                        (63,025)                 (270,669)
                                                                           --------                 ---------

Net cash used in operating activities                                     (5,561,905)               (1,159,919)
                                                                         -----------               -----------
</TABLE>


                                     Page 9
<PAGE>


                                              NETCURRENTS, INC. AND SUBSIDIARIES
                                           CONSOLIDATED STATEMENTS OF CASH FLOWS
 FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND SEPTEMBER 30, 1999 (UNAUDITED)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>
                                                                            For the                  For the
                                                                          Nine Months               Nine Months
                                                                             Ended                     Ended
                                                                         September 30,             September 30,
                                                                             2000                      1999
                                                                         -------------             -------------
                                                                          (unaudited)               (unaudited)
<S>                                                                         <C>                      <C>
   CASH FLOWS FROM INVESTING ACTIVITIES
   Capital expenditures on fixed assets                                     $ (782,126)               $(16,014)
   Additions to film costs                                                           -                  16,226
   (Increase) decrease in receivables from related
     parties                                                                         -                 284,821
   Additions to goodwill                                                             -                 809,785
   Company acquisitions                                                              -                 252,122
   (Increase) in short-term investments                                              -                (800,000)
   Increase in obligations under capital leases                                      -                  28,247
   Increase in acquisition costs                                                     -                 114,589
   Loans to acquired company                                                         -                (900,000)
   Payments on receivables - related party                                           -                   2,265
   Loans to related parties                                                          -                 (25,000)
   Proceeds from sale of investments                                           213,809                       -
                                                                          ------------                      --

Net cash provided by (used in) investing activities                           (568,317)               (232,959)
                                                                          ------------           -------------
   CASH FLOWS FROM FINANCING ACTIVITIES

   Payments on notes payable - related parties                                 (44,046)             (1,210,802)
   Borrowings from notes payable - related parties                                   -                  35,086
   Payments on capital lease obligation                                         (4,320)                (49,821)
   Payment on subscription receivable                                          200,000                       -
   Proceeds from issuance of preferred stock                                   311,525               2,680,975
   Proceeds from issuance of common stock                                    8,754,933                 804,070
   Offering costs                                                                    -               (192,500)
   Proceeds from convertible debentures, net of
     offering costs                                                          1,000,026                       -
                                                                          ------------           -------------
Net cash provided by financing activities                                   10,218,118               2,067,008
                                                                          ------------           -------------
Net increase in cash and cash equivalents                                    4,087,896                 674,130
                                                                          ------------           -------------
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                                 798,855                (442,645)
                                                                          ------------           -------------
CASH AND CASH EQUIVALENTS, END OF PERIOD                                  $  4,886,751            $    231,485
                                                                          ============           =============
</TABLE>


                                    Page 10
<PAGE>


(1)  BASIS OF PRESENTATION

     The accompanying unaudited condensed consolidated financial statements of
NetCurrents, Inc. (the "Company") have been prepared in accordance with
generally accepted accounting principles for interim financial information and
in accordance with the instructions to Form 10-QSB. Accordingly, they do not
include all of the information and footnotes required by generally accepted
accounting principles for complete financial statements. In the opinion of
management, all material adjustments (consisting of normal recurring accruals)
considered necessary for a fair presentation have been included. Operating
results for the nine months ended September 30, 2000 are not necessarily
indicative of the results that may be expected for the year ended December 31,
2000. The information contained in this Form 10-QSB should be read in
conjunction with the audited financial statements filed as part of the Company's
Form 10-KSB for the six months ended December 31, 1999.

(2)  GOODWILL

     Goodwill was recorded in connection with the acquisition of MWI
Distribution, Inc. in July 1998 and is being amortized over a period of five
years.

(3)  DIVIDENDS ON PREFERRED STOCK

     During the three months ended September 30, 2000, the Company issued shares
of its Common Stock at a market value to pay a required $106,250 quarterly
dividend on the Series A Preferred Stock and the required $22,250 quarterly
dividend on the Series G Preferred Stock.

(4)  LOSS PER SHARE

     Loss per share for the three and six months ended September 30, 2000, has
been computed after deducting the dividend requirements of the Series A and
Series G Preferred Stock. It is based on the weighted average number of common
and common equivalent shares reported outstanding during the entire period ended
on September 30, 2000.


                                     Page 11
<PAGE>


                                   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.


        NetCurrents, Inc.                           (Registrant)


Dated:  November 15, 2000                       /S/ IRWIN MEYER
                                                --------------------------
                                                Irwin Meyer,
                                                Chief Executive Officer


Dated:  November 15, 2000                       /S/ MICHAEL ISCOVE
                                                --------------------------
                                                Michael Iscove
                                                Chief Financial Officer