SECURITIES AND EXCHANGE COMMISSION

                           WASHINGTON, DC 20549

                              FORM 10-QSB

(X)     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d)
        OF THE SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended March 31, 1997

                                  OR

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

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

Commission File number       333-5862

                            Net Lnnx, Inc.
     (Exact name of small business issuer as specified in its charter)

        Pennsylvania                                       23-1726390
 (State of other jurisdiction of                      (I.R.S. Employer
  incorporation or organization)                      Identification No.)

         324 Datura St., Suite. 330, West Palm Beach, FL 33401
         (Address of principal executive office and zip code)

Issuer's telephone number, including area code     (561) 659-1196 

           324 Datura St., Suite 150, West Palm Beach, FL 33401 
           (Former name, former address, and former fiscal year,
                      if changed since last year)

Check whether the registrant (1) filed all reports required to be filed by 
Section 13 or 15 (d) of the Exchange Act of 1934 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 at least 
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.

At March 31, 1997, there were outstanding 1,624,876 shares of common stock, no
par value.

<PAGE>

                            NET LNNX, INC.

                          Form 10-QSB Index
                           March 31, 1997

                                                          Page
                                                                          
Part I: Financial Information ..............................3

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

          Balance Sheets Unaudited at March 31, 1997........3
          Unaudited Statements of Operations for the
          Period ended March 31,  1997......................4 

          Unaudited Statements of Cash Flow for the
          Period Ended March 31, 1997.......................5

          Notes to Unaudited Financial Statements ..........6

     Item 2. Management's Discussion and Analysis or Plan
             of Operation ..................................7

Part II:   Other Information ...............................8

     Item 1.    Legal Proceedings ..........................8

     Item 2.    Changes in Securities ......................8

     Item 3.    Defaults Upon Senior Securities ............8

     Item 4.    Submission of Matters to a Vote of
                Security Holders ...........................8

     Item 5.    Other Information ..........................8

     Item 6.    Exhibits and Reports on Form 8-K ...........9

Signatures .................................................9

<PAGE>

                                PART I
                         FINANCIAL INFORMATION


Item 1.  Financial Statements

<PAGE>                       

                            NET LNNX, INC.
                       CONDENSED BALANCE SHEET
                           March 31, 1997
                            (Unaudited)


ASSETS     
Current assets:     
    Cash                                             $     73,409
    Note receivable                                        38,035
     
       Total current assets                               111,444       
     
Property and equipment (net)                                8,723
Note receivable - long term                               410,590
Net assets of discontinued operations                      70,497              
     
                                                     $    601,254 
     
LIABILITIES AND STOCKHOLDERS' EQUITY     
Current liabilities:     
  Accounts payable and accrued expenses              $     23,151 
     
Deferred gain - installment sale                           43,247
     
Stockholders' equity:     
  Common stock                                             1,000
  Additional paid-in capital                             996,335
  Retained deficit                                      (462,479)
     
       Total stockholders' equity                        534,856
     
                                                     $   601,254
     
     
     See Accompanying Notes

<PAGE>

                              NET LNNX, INC.
                   CONDENSED STATEMENT OF OPERATIONS
                               (Unaudited)


<TABLE>
<CAPTION>
                                                           For the Three Months
                                                              Ended March 31,   
                                                       1997                   1996 
<S>                                               <C>                   <C>
Sales, net                                        $     -               $      - 
                    
Cost of sales                                           -                    11,172
                    
Gross profit (loss)                                     -                   (11,172)
                    
General and administrative expenses                     15,944               66,837      
                    
Loss from operations                                   (15,944)             (78,009)
                    
Other income (expense)                                   
   Interest earned                                       2,625                 -
   Loss on subsidiary equity                             -                  (70,948)
   Installment gain - sale of subsidiary                 4,953                 -
                    
      Total other income (expense)                       7,578              (70,948)
                    
Net loss                                                (8,306)            (148,957)
                    
Retained earnings(deficit), beginning of period       (454,113)               1,164
                    
Retained earnings(deficit), end of period         $   (462,479)         $  (147,793)
                    
Net loss per share                                $       (.00)         $      (.00)
                    
Weighted average shares outstanding                  2,190,935            1,102,296
                    
</TABLE>
                    
       See Accompanying Notes

<PAGE>

                              NET LNNX, INC.
                    CONDENSED STATEMENTS OF CASH FLOW

<TABLE>
<CAPTION>

                                                         For the Three Months
                                                             Ended March 31,    
                                                      1997                   1996     
                                                               (Unaudited)          
<S>                                               <C>                    <C>
Cash flows from operating activities:             
  Net income                                      $   (8,366)            $   (148,957)
  Adjustments for non-cash items                      (4,538)                  86,128
  Changes in assets and liabilities                  (66,956)                  71,463
          
    Net cash provided (used) for operations          (79,860)                   8,634
          
Investments activities:          
    Acquisition of property                                                   (10,798)
   Receipts from installment sale note                26,375                     --
          
    Cash used for investment activities               26,375                  (10,798)
          
Financing activities:          
  Proceeds from issuance paid-in capital             100,050                     --
  Loan payable - shareholder                           1,800                     --
          
    Net cash provided by financing activities        101,850                     --
          
Net increase (decrease) in cash                       48,365                   (2,164)
          
Cash, beginning of period                             25,044                    2,164
          
Cash, end of period                              $    73,409              $     --
          
Supplemental disclosure:          
  Cash paid for interest                         $     --                 $     --
          
  Income taxes paid                              $     --                 $     --
          
<PAGE>

          See Accompanying Notes


<PAGE>

                              NET LNNX, INC.
                       NOTES TO FINANCIAL STATEMENTS


1.  Basis of Presentation

The accompanying unaudited financial statements of Net Lnnx, Inc. (the 
"Company") have been prepared in accordance with generally accepted accounting
principles for interim financial information and with the instructions to Form
10-Q.  In the opinion of management, all adjustments (consisting of normal 
recurring accruals) considered necessary for a fair presentation have been 
included.  Operating results for the three month period ended March 31, 1997 
are not necessarily indicative of the results that may be expected for the 
year ended December 31, 1997.

These financial statements should be read in conjunction with the audited 
financial statements and related notes for the year ended December 31, 1996 
included in the Company's 10-KSB for the year ended December 31, 1996.

2.  Discontinuance of Operations

As reported in the consolidated financial statements for the year ended 
December 31, 1996, the Company sold its 55% interest in Communications/USA, 
Inc. ("CUSA") which operated as a consolidated subsidiary.  The consideration 
of the sale was cash and a promissory note.  Through March 31, 1997, receipt 
of payments in accordance with the terms of the promissory note has been met.  
The gain on the sale is being reported on the installment method.

The Company's other subsidiary, TrueNet, Inc., was also sold.  The 
consideration was stock in the name of the purchaser, Banana Corporation, Inc.
("BCI").  The estimated loss on the disposal of TrueNet, Inc. offset by the 
consideration of the sale, net of taxes, was recognized during the year ended 
December 31, 1996.

Potential tax benefits from the loss on disposition have not been recognized 
since the ultimate realization of the tax benefits is dependent on the Company
generating future capital gains.

3.  -  Shareholder Activity

In March, 1997, the Company sold 250,000 shares of common stock in a private 
placement transaction at $ .40 per share.  The proceeds to the Company, net of
$500 expenses, was $99,500.

<PAGE>

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

     (a)     Plan of Operation

     The registrant is presently a holding company conducting virtually no 
business operation, other than its efforts to seek merger partners or 
acquisition candidates. As disclosed in the registrant's press release dated 
April 25 ,1997, on April 25, 1997, the registrant entered into a non-binding 
letter of intent with Techni-Logic Consultants, Inc. ("TLC"), a Texas based 
corporation which is a national telecommunications service/reseller 
organization which provides high quality telephone communication services and 
products.  As of the date of this report, no definitive binding merger 
agreement has to been entered into between the registrant and TLC, and since 
the letter of intent is non-binding, no assurances can be made that such a 
merger agreement will be entered into and that a merger will close.  

     The registrant receives a cash flow from a 7% note receivable made to the 
registrant.  The note receivable is a 7% interest promissory note in the 
amount of $475,000 with 12 monthly payments of $9,000 per month, 12 monthly 
payments of $12,000 per month, and a balloon payment of the balance due on 
March 1, 1999.  Further, the registrant received a capital infusion of 
approximately $100,000 in March of 1997, and a capital infusion of 
approximately $100,000 in April of 1997. 
     
     Until such time as the registrant closes a merger or acquisition 
transaction, with the exception of professional fees and costs for such a 
transaction, the registrant expects that it will incur only minor operating 
costs in 1997.  The registrant expects that it will meet its cash requirements 
until such time as a merger or acquisition transaction occurs.   The 
registrant has been operated by new management since January 1997.  To the 
best of such new management's knowledge, the registrant's past liabilities 
have been paid to the satisfaction of all creditors, with the exception of two 
creditors which have made claims to the registrant in the approximate 
aggregate amount of $57,000.   Upon investigation, the registrant considers 
such claims to be without merit, however; one creditor has brought suit 
against the registrant in the amount of $25,645 as of the date of this 
report.  No legal action has been brought against the registrant in connection 
with the other such claim, although suit has been threatened.  In the event 
the other creditor brings legal action against the registrant, and either or 
both are successful in such actions against the registrant, depending upon the 
costs involved and the monetary damage awards obtained against the registrant, 
the registrant might have difficulty meeting its cash requirements.  Also, 
although the registrant's management has conducted what they consider a 
thorough investigation of all potential liabilities of the registrant, 
management may not be aware of all the registrant's outstanding liabilities; 
therefore, in the event present, material, unknown liabilities exist, the 
registrant might have difficulties meeting its cash flow requirements in the 
event it is required to pay such liabilities.

<PAGE>

                                PART II

                           OTHER INFORMATION


Item 1.  Legal Proceedings

     On April 15, 1997, CommGroup, Inc. d/b/a Communications Group, a Florida 
corporation ("CommGroup"), filed suit against the registrant in the Circuit 
Court of the Fifteenth Judicial Circuit, Palm Beach County, Florida.

     CommGroup is a company which provides marketing support and public 
relations services ("Services").  CommGroup alleges that it performed Services
for the registrant valued at approximately $25,645 pursuant to an oral 
contract between the registrant and CommGroup.  CommGroup brought this suit 
for breach of contract, account stated and quantum meruit relief against the 
registrant.  The registrant filed a motion to dismiss or alternative motion 
for a more definite statement based  upon the insufficiency of the original 
complaint filed by CommGroup.  As of the date hereof, the registrant's motions
are pending resolution. 
 
Item 2.  Change in Securities

         NONE

Item 3.  Defaults Upon Senior Securities

         NONE

Item 4.  Submission of Matters to a Vote of Security Holders

     A special meeting of the shareholders of the registrant was held on 
January 31, 1997.  Shareholders representing 814,000 shares of the 1,441,000 
shares outstanding on that date attended the meeting and unanimously passed 
the following resolutions:

     1.     To amend the bylaws of the registrant to increase the number of 
directors from one to five, and to permit the existing directors to fill the 
vacancies until the next annual meeting of the shareholders;
     
     2.     To reincorporate the corporation under the laws of the state of 
Delaware;
     
     3.     To approve the sale of the registrant's interest in 
Communications/USA, Inc. to Palm Capital, Inc. 
         
Item 5.  Other Information

     The following proposals were approved by the registrant's Board of 
Directors during April, 1997.

<PAGE>

    (1)    The registrant's anticipated reverse merger with Techni-Logic 
           Consultants, Inc.
         
    (2)    The transfer of two of the registrant's assets into two new wholly 
           owned subsidiary  corporations of the registrant. The registrant
           intends to transfer its 7% note receivable in the amount of
           $475,000 into one subsidiary, and to transfer its 20% interest in
           Banana Online, Inc; a privately held internet access and service
           provider into the other subsidiary.  The registrant intends for
           this transfer of assets to occur prior to its anticipated merger
           with TLC, or any other company the registrant might merge 
           with. The registrant intends to distribute the shares of stock of
           the subsidiaries to shareholders of the registrant and make the
           subsidiaries operating public corporations on a future date.
     
      Also, in March 1997, the registrant sold 250,000 shares of common stock 
in a private placement transaction at $0.40 per share.  The net proceeds to 
the registrant, after offering expenses  of $500 were $99,500.

Item 6.  Exhibits and Reports on Form 8-K

     (a)     Financial Data Schedule

     (b)     The following reports on Form 8-K were filed during the quarter 
             ended March 31,1997.

          1.     Form 8-K dated 1/10/97
          2.     Form 8-K dated 2/14/97
          3.     Form 8-K dated 3/24/97.                                   
          
                               SIGNATURES

     In accordance with 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.

          NET LNNX, INC.
          Registrant

          /s/ Ronald W. Hayes, Jr.
          Ronald W. Hayes, Jr.
          President.

          /s/ Ronald W. Hayes, Jr.
          Ronald W. Hayes, Jr.
          President.

          /s/ Ronald P. Perella
          Ronald P. Perella,
          Vice President and
          Executive Secretary

          Date: May 13, 1997




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