UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                    FORM 10-Q

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

                  For the quarterly period ended March 31, 2000

[ ]  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 0-7619


                           Asia SuperNet Corporation
              ----------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


            Colorado                                    93-0636333
   ------------------------------                    ------------------
  (State or other jurisdiction of                     (I.R.S. Employer
   corporation or organization)                      Identification No.


                  1700 Lincoln St. Suite 3200 Denver, Co 80203
                  --------------------------------------------
               (Address of Principal Executive Offices)(Zip Code)

Registrant's telephone number, including area code:           (303) 860-1700
                                                              --------------


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 [ ]     No [X]

As of May 20, 2000,  1,185,209  shares of common  stock,  $.001 par value,  were
issued and outstanding.


<PAGE>


                            ASIA SUPERNET CORPORATION
                                    FORM 10-Q

                  FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2000

                                TABLE OF CONTENTS

                          PART I. FINANCIAL INFORMATION

                                                                        Page No.

Item 1.  Financial Statements

         Condensed Balance Sheets as of March 31, 2000 (Unaudited)
            and December 31, 1999                                           3

         Condensed Statements of Operations for the three months ended
            March 31, 2000 and 1999 (Unaudited)                             4

         Condensed Statements of Cash Flows for the three months ended
            March 31, 2000 and 1999 (Unaudited)                             5

         Notes to the Condensed Financial Statements                        6

Item 2.  Management Discussion and Analysis of Financial Condition and
         Results of Operations                                              7

                           PART II. OTHER INFORMATION

Item 1.  Legal Proceedings                                                  7

Item 2.  Changes in Securities                                              7

Item 3.  Defaults Upon Senior Securities                                    7

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                                   8

Signatures                                                                  8




                                        2

<PAGE>

                            ASIA SUPERNET CORPORATION

                          PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

<TABLE>
<CAPTION>
                                 CONDENSED BALANCE SHEETS
                                  (United States Dollars)


                                                                          As of March 31,      As of December 31,
ASSETS                                                                        2000                     1999
------                                                                    --------------       -----------------
<S>                                                                     <C>                      <C>
Current assets:

   Cash and cash equivalents ........................................   $     9,131              $     9,176

   Prepaid and other current assets .................................        21,301                   21,301
                                                                        -----------              -----------

Total current assets ................................................        30,432                   30,477

PROPERTY, PLANT AND EQUIPMENT, NET ..................................         2,795                    3,194
                                                                        -----------              -----------

Total assets ........................................................   $    33,227              $    33,671
                                                                        ===========              ===========


LIABILITIES AND SHAREHOLDERS' DEFICIT
-------------------------------------

Current liabilities:
   Accounts payable .................................................   $   144,560              $   123,821
   Margin loan payable (Note 3) .....................................     2,472,722                2,472,722
   Accrued expenses and other liabilities ...........................        83,577                   82,182
   Amounts payable to related parties ...............................        72,738                   72,738
                                                                        -----------              -----------

Total current liabilities ...........................................     2,773,597                2,751,463
                                                                        -----------              -----------

Commitments and Contingencies

Shareholders' (deficit) equity:
   Preferred stock, $5 par value, 25,000,000 shares
     authorized, unissued ...........................................          --                      --
   Common stock, $.001 par value, 900,000,000 shares
     authorized; issued and outstanding 1,189,005 shares ............         1,189                    1,189
   Paid in capital ..................................................     6,539,702                6,539,702
   Accumulated deficit ..............................................    (9,281,261)              (9,258,683)
                                                                        -----------              -----------

Total shareholders' (deficit) equity ................................    (2,740,370)              (2,717,792)
                                                                        -----------              -----------

Total liabilities and shareholders' (deficit) equity ................   $    33,227              $    33,671
                                                                        ===========              ===========
</TABLE>


See the accompanying notes to the condensed financial statements.


                                        3

<PAGE>

<TABLE>
<CAPTION>

                                 ASIA SUPERNET CORPORATION
                      CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)
                                  (United States Dollars)


                                                                              Three months ended March 31,
                                                                              2000                   1999
                                                                              ----                   ----
<S>                                                                     <C>                    <C>
Revenues:
   Rental income ....................................................   $        15            $    84,166

   Investment income ................................................          --                      563
   Other income .....................................................          --                    1,580
                                                                        -----------            -----------
Total revenues ......................................................            15                 83,309
                                                                        -----------            -----------

Expenses:
   Depreciation .....................................................           399                  8,797
   Legal and professional fees ......................................        22,134                 17,544
   Consulting fees paid to a related company ........................          --                  125,000
   Interest expense .................................................          --                  111,939
   Foreign exchange (gain) loss .....................................          --                  (18,827)
   Land lease .......................................................          --                   18,224
   Rental real estate management fees ...............................          --                    5,169
   Salaries .........................................................          --                    9,233
   Other operating and administrative fees ..........................            60                 32,144
                                                                        -----------            -----------
     Total expenses .................................................        22,593                328,050
                                                                        -----------            -----------

Net loss ............................................................   $   (22,578)           $  (222,914)
                                                                        ===========            ===========

Earnings (loss) per share (basic and diluted)

     Net loss per share .............................................   $     (0.02)           $     (0.43)
                                                                        ===========            ===========


Weighted average number of shares of common stock outstanding .......     1,189,005                518,652
                                                                        ===========            ===========
</TABLE>












See the accompanying notes to the condensed financial statements.


                                        4

<PAGE>

<TABLE>
<CAPTION>

                                 ASIA SUPERNET CORPORATION
                      CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)
                                  (United States Dollars)


                                                                             Three months ended March 31,
                                                                             2000                    1999
                                                                             ----                    ----
<S>                                                                      <C>                     <C>
CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss .............................................................   $ (22,578)              $(222,914)
Adjustments to reconcile net loss to net cash
   used in operating activities:
   Depreciation and amortization .....................................         399                   8,797
Changes in working capital components:
   Accounts receivable ...............................................        --                      (896)
   Prepaid and other current assets ..................................        --                   (20,220)
   Amounts receivable form related parties ...........................        --                    (4,273)
   Accounts payable and accrued expenses .............................      22,134                 (40,685)
   Amounts due to related parties ....................................        --                   230,703
   Exchange difference ...............................................        --                   (15,485)
                                                                         ---------               ---------
     Net cash used in operating activities ...........................         (45)                (64,973)
                                                                         ---------               ---------


CASH FLOWS FROM INVESTING ACTIVITIES:

   Purchases of property, plant and equipment ........................        --                   (16,346)
                                                                         ---------               ---------

   Net cash used in investing activities .............................        --                   (16,346)
                                                                         ---------               ---------

CASH FLOWS FROM FINANCING ACTIVITIES

   Increase in margin loan payable ...................................        --                    32,811
   Mortgage loan repaid ..............................................        --                    12,465
                                                                         ---------               ---------

   Net cash provided by (used in) financing activities ...............        --                    45,276
                                                                         ---------               ---------

NET INCREASE IN CASH AND CASH EQUIVALENTS ............................         (45)                (36,043)

CASH AND CASH EQUIVALENTS, BEGINNING OF
   PERIOD ............................................................       9,176                  66,249
                                                                         ---------               ---------

CASH AND CASH EQUIVALENTS, END OF PERIOD .............................   $   9,131               $  30,206
                                                                         =========               =========
</TABLE>



See accompanying notes to financial statements.


                                        5

<PAGE>

                            ASIA SUPERNET CORPORATION
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                           MARCH 31, 1999 (UNAUDITED)

NOTE 1.  BASIS OF PRESENTATION

The condensed  financial  statements  included  herein have been prepared by the
Company,  without audit, pursuant to the rules and regulations of the Securities
and Exchange  Commission.  Certain information and footnote disclosures normally
included in financial  statements prepared in accordance with generally accepted
accounting  principles have been condensed or omitted pursuant to such rules and
regulations,  although the Company believes that the disclosures are adequate to
make  the  information   presented  not  misleading.   The  condensed  financial
statements  and  the  notes  thereto  should  be read in  conjunction  with  the
financial  statements  included in the Company's  Annual Report on Form 10-K for
the year ended  December  31,  1999.  In the  opinion of the  management  of the
Company,  the accompanying  condensed financial statements contain all necessary
adjustments to present fairly the financial position,  the results of operations
and cash flows for the periods reported.  All adjustments are a normal recurring
nature.

The results of operations for the  three-month  periods ended March 31, 2000 and
March 31, 1999 are not necessarily  indicative of the results to be expected for
the full year.

The condensed  statements of operations for the  three-month  period ended March
31, 1999, have been reclassified to conform to the 1999 presentation.

NOTE 2.  CONTINUING OPERATIONS

These  condensed  financial  statements  have been prepared on the going concern
basis of  accounting  which  assumes  the  Company  will  realize its assets and
discharge  its  liabilities  in the normal  course of  business.  The Company is
currently  operating at a loss, has negative  working capital and  stockholders'
deficit.  Should the Company be unable to continue as a going  concern it may be
required  to  realize  its  assets  and  settle  its   liabilities   at  amounts
substantially different from the current carrying values.

The  Company's  ability to continue as a going concern is dependent on continued
financial  support  from its  principal  shareholder,  Mr. Fai H. Chan,  who has
signed a letter of financial support to the Company.



                                        6

<PAGE>

ITEM 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
           RESULTS OF OPERATIONS

The following discussion should be read in conjunction with the Annual Report on
Form  10-K for the  year  ended  December  31,  1999,  the  Condensed  Financial
Statements of the Company and the related  notes  thereto,  and other  financial
information that is included elsewhere herein or incorporated by reference.

Introduction

During 1999,  the Company sold all of its interests in all of its  subsidiaries.
For the three months ended March 31, 2000, the Company had no operations.

RESULTS OF OPERATIONS

THE THREE MONTHS ENDED MARCH 31, 2000 COMPARED TO THE THREE MONTHS ENDED
MARCH 31, 1999

During the three  months ended March 31,  2000,  revenues  consisted of interest
income on the cash and cash  equivalents  and  expenses  primarily  consisted of
legal and accounting  fees. The prior year revenues and expenses  related to the
operations  existing  at that time which  included  rental real estate and other
investments.

LIQUIDITY AND CAPITAL RESOURCES

The net cash used in operating  activities  for the three months ended March 31,
2000 amounted to $45. This is primarily due to the payment of bank fees,  net of
interest income. There was no cash provided by or used in investing or financing
activities.


                           PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

         None

ITEM 2.  CHANGES IN SECURITIES

         None

ITEM 3.  DEFAULTS IN SENIOR SECURITIES

         None



                                        7

<PAGE>


ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         None

ITEM 5.  OTHER INFORMATION

         None

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         Exhibit 27:     Financial Data Schedule.



                                   SIGNATURES

      Pursuant  to the  requirements  of the  Securities  Exchange  Act of 1934,
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.



Date:  May 25, 2000                      Asia SuperNet Corporation
                                         A Colorado Corporation



                                         By:  /s/ Robert H. Trapp
                                             ----------------------------------
                                              Robert H. Trapp
                                              Secretary and Treasurer


                                        8