<PAGE> 1

============================================================
                 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 June 30, 1999

[  ]      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
          SECURITIES EXCHANGE ACT OF 1934
          For the transition period __________ from to ______________.

                              0-25757
                       Commission file number

                       VERIDA INTERNET CORP.
 (Exact name of Small Business Issuer as Specified in its Charter)

State of  Nevada                        98-0164651
(State or other jurisdiction            (I.R.S. Employer
of Incorporation or Organization)       or Identification Number)

50 California Street, Suite 1500, San Francisco, California USA 94111
              (Address of Principal Executive Offices)

                           (415) 464-8600
          (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 [  ]

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING
THE PRECEDING FIVE YEARS

Check whether the registrant filed all documents and reports required
to be filed by Section 12, 13 or 15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by court.
                  Yes [ ]                 No [  ]

APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the Issuer's classes
of common equity, as of the latest practicable date: Common, $.00001
par value per share: 8,972,000 outstanding as of June 30, 1999

Transitional Small Business Disclosure Format (check one):
                   Yes [ ]                 No [x]

=====================================================================
<PAGE> 2
                   PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

VERIDA INTERNET CORP. (Formerly Austral Pacific Energy Corp.)
(A Development Stage Enterprise)
Balance Sheets
(Unaudited   Prepared by Management)
<TABLE>
<CAPTION>
                                        June 30,       June 30,
                                        1999           1998
<S>                                     <C>            <C>
ASSETS
 Current

 Cash and short-term deposits           $   274,138    $ 195,233
 Prepaid expenses                             3,091           -
 Subscriptions receivable (Note 3)               -       133,700
                                        -----------    ---------
                                            277,229      328,933

 Capitalized software development
  costs, net (Note 5)                       176,250           -
                                        -----------    ---------
Total Assets                            $   453,479    $ 328,933
                                        ===========    =========

LIABILITIES
 Current

 Accounts payable and accrued
  liabilities                           $     2,000    $   2,078
 Due to related party (Note 5)               18,965           -
 Loan payable to related party (Note 5)          -        30,000
                                        -----------    ---------
Total Liabilities                            20,965       32,078
                                        -----------    ---------
Stockholders' Equity
Common stock, $0.00001 par value;
 100,000,000 shares authorized (Note 3)
 (1999: 8,972,000 shares issued and
 outstanding) (1998: 8,887,000 shares
 issued and outstanding)                         90           89
Additional paid-in capital                1,209,370      340,621
Deferred compensation (Note 3)             (437,500)          -
Deficit accumulated during the
 development stage                         (339,446)     (43,855)
                                        -----------    ---------
Total Stockholders' Equity                  432,514      296,855
                                        -----------    ---------
Total Liabilities and Stockholders'
 Equity                                 $   453,479    $ 328,933
                                        ===========    =========
</TABLE>


                                 2
<PAGE> 3

VERIDA INTERNET CORP. (Formerly Austral Pacific Energy Corp.)
(A Development Stage Enterprise)
Statements of Operations
(Unaudited   Prepared by Management)
<TABLE>
<CAPTION>
                                                       November 1,
                         Six Month      Six Month      1996
                         Period Ended   Period Ended   (inception) to
                         June 30,       June 30,       June 30,
                         1999           1998           1999
<S>                      <C>            <C>            <C>
REVENUE

Interest income          $    4,435          $   2,951      $    9,912
                         ----------          ---------      ----------
OPERATING EXPENSES

Amortization                  5,000                 -            5,000
Product development          95,625                 -           95,625
General and
 administrative             104,818             20,476         155,775
Loss on sale of marketable
 securities (Note 5)         92,958                 -           92,958
                         ----------          ---------      ----------
                            298,401             20,476         349,358
                         ----------          ---------      ----------
Net loss for the period  $ (293,966)         $ (17,525)     $ (339,446)
                         ==========          =========      ==========
Basic and diluted loss
 per share (Note 4)      $    (0.03)         $   (0.00)     $    (0.06)
                         ==========          =========      ==========
</TABLE>























                                 2

<PAGE> 4
VERIDA INTERNET CORP. (Formerly Austral Pacific Energy Corp.)
(A Development Stage Enterprise)
Statements of Cash Flows
(Unaudited   Prepared by Management)
<TABLE>
<CAPTION>
                         Six Month      Six Month      November 1, 1996
                         Period Ended   Period Ended   (inception) to
                         June 30,       June 30,       June 30,
                         1999           1998           1999
<S>                      <C>            <C>            <C>
OPERATING ACTIVITIES
Net loss for the period  $ (293,966)    $ (17,525)     $ (339,446)
Adjustments and changes in
 non-cash working capital:
  Amortization                5,000            -            5,000
  Prepaid expenses           (3,091)           -           (3,091)
  Accounts payable and
   accrued liabilities           61            78           4,639
  Due to related party       16,326            -           16,326
  Loss on sale of
   marketable securities     92,958            -           92,958
                         ----------     ---------      ----------
Net cash used in
 operating activities      (182,712)      (17,447)       (223,614)
                         ----------     ---------      ----------
FINANCING ACTIVITIES
Common shares issued
 for cash                   433,700        59,010         650,710
Cost of common stock
 offering                        -             -          (10,000)
Repayment of related
 party loan                 (30,000)           -          (30,000)
Loan from related party          -             -           30,000
                         ----------     ---------      ----------
Net cash provided by
financing activities        403,700        59,010         640,710
                         ----------     ---------      ----------
INVESTING ACTIVITIES
Proceeds from sale of
 marketable securities       81,972            -           81,972
Purchase of marketable
 securities                      -             -         (174,930)
Purchase of software        (50,000)           -          (50,000)
                         ----------     ---------      ----------
Net cash provided by (used
 in) investing activities    31,972            -         (142,958)
                         ----------     ---------      ----------
Net increase in cash        252,960        41,563         274,138

Cash position -
 Beginning of period         21,178       153,670              -
                         ----------     ---------      ----------
Cash position -
 End of period           $  274,138     $ 195,233      $  274,138
                         ==========     =========      ==========
</TABLE>
                                 3
<PAGE> 5

VERIDA INTERNET CORP. (Formerly Austral Pacific Energy Corp.)
(A Development Stage Enterprise)
Statements of Changes in Stockholders' Equity
(Unaudited   Prepared by Management)
For the Six Month Periods Ended June 30, 1999 and 1998
<TABLE>
<CAPTION>
                                             Additional
                           Common Stock      Paid-in   Deferred
                         Shares    Amount    Capital   Compensation
<S>                      <C>       <C>       <C>       <C>
Balance at
 December 31, 1998       8,887,000 $  89          $   340,621    $       -

Common stock issued for
 cash at $5.00 per share    60,000     1              299,999
Common stock issued to
 NetOpus Incorporated at
 $5.25 per share (Note 5)        25,000    -          131,250
Deferred compensation
 related to stock options                             437,500      (437,500)
Net loss during the period
Loss on sale of marketable
 securities realized
                         --------- -----          -----------    ----------
Balance at June 30, 1999 8,972,000 $  90          $ 1,209,370    $ (437,500)
                         ========= =====          ===========    ==========

Balance at
  December 31, 1997      3,600,000 $  36          $   147,964    $       -

Common stock issued for
 cash at $0.001, $0.03
 and $0.25 per share
 (Note 3)                5,287,000    53              192,657
Net loss during the period
                         --------- -----          -----------    ----------
Balance at June 30, 1998 8,887,000 $  89          $   340,621    $      -
                         ========= =====          ===========    ==========























                                4-a

<PAGE> 6

VERIDA INTERNET CORP. (Formerly Austral Pacific Energy Corp.)
(A Development Stage Enterprise)
Statements of Changes in Stockholders' Equity
(Unaudited   Prepared by Management)
For the Six Month Periods Ended June 30, 1999 and 1998

                         Deficit
                         Accumulated
                         During the     Cumulative     Total
                         Development    Comprehensive  Stockholders'
                         Stage          Adjustment     Equity
<S>                      <C>            <C>            <C>
Balance at
 December 31, 1998       $  (45,480)    $ (94,574)     $  200,656

Common stock issued for
 cash at $5.00 per share                                  300,000
Common stock issued to
 NetOpus Incorporated at
 $5.25 per share (Note 5)                                 131,250
Deferred compensation
 related to stock options                                      -
Net loss during the period (293,966)                     (293,966)
Loss on sale of marketable
 securities realized                        94,574         94,574
                         ----------      ---------      ----------
Balance at June 30, 1999 $ (339,446)     $      -       $  432,514
                         ==========      =========      ==========

Balance at
  December 31, 1997      $  (26,330)     $      -       $  121,670

Common stock issued for
 cash at $0.001, $0.03 and
 $0.25 per share (Note 3)                                  192,710
Net loss during the
 period                     (17,525)                       (17,525)
                         ----------      ----------     ----------
Balance at June 30, 1998 $  (43,855)     $       -      $  296,855
                         ==========      ==========     ==========

</TABLE>






















                                 4-b<PAGE> 7

VERIDA INTERNET CORP. (Formerly Austral Pacific Energy Corp.)
(A Development Stage Enterprise)
Notes to the Financial Statements
(Unaudited   Prepared by Management)
For the Six Month Periods Ended June 30, 1999 and 1998
NOTE 1 - NATURE OF OPERATIONS

The Company was incorporated under the laws of the State of Nevada on
November 1, 1996 and is a development stage enterprise.  The Company is
currently developing business-to-business electronic commerce solutions
for use on the Internet.

These financial statements have been prepared on the basis that the
Company will continue as a going concern.  The Company has incurred
operating losses since its incorporation and significant acquisitions
in the future, if any, will likely require additional equity financing.
However, there can be no assurance that such acquisitions will occur,
or whether additional funds required, if any, would be available to the
Company when required or on terms acceptable to the Company.  Such
limitations could have a material adverse effect on the Company's
business, financial condition or operations and these financial
statements do not include any adjustment that could result therefrom.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a)   Accounting Principles and Use of Estimates

The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosures of contingent assets and liabilities at the
date of the financial statements and the reported amounts of revenues
and expenses during the fiscal periods.  Actual results may differ from
those estimates.

b)   Translation of Foreign Currencies

Revenues and expenses arising from foreign currency transactions are
translated into United States dollars at the average rate for the
period.  Monetary assets and liabilities are translated into United
States dollars at the rates prevailing at the balance sheet date.
Other assets and liabilities are translated into United States dollars
at the rates prevailing on the transaction dates.  Exchange gains and
losses are recorded as income or expense in the period in which they
occur.

c)   Financial Instruments and Financial Risk

The Company's financial instruments consist of current assets and
current liabilities.  The fair values of the current assets and
liabilities approximate the carrying amounts due to the short-term
nature of these instruments.

                                 5
<PAGE> 8

VERIDA INTERNET CORP. (Formerly Austral Pacific Energy Corp.)
(A Development Stage Enterprise)
Notes to the Financial Statements
(Unaudited   Prepared by Management)

For the Six Month Periods Ended June 30, 1999 and 1998

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

d)   Accounting Pronouncements Recently Issued

The Financial Accounting Standards Board ("FASB") issued Statement of
Financial Accounting Standards No. 128: Earnings per Share ("SFAS
128"), effective for fiscal periods ending after December 15, 1997 and
requiring restatement of all prior period earnings per share data.
SFAS 128 replaces the presentation of primary earnings per share
("EPS") with a presentation of both basic and diluted EPS for all
entities with complex capital structures.  Basic EPS excludes dilutive
securities and is computed by dividing income available to common
shareholders by the weighted-average number of common shares
outstanding for the period.  Diluted EPS reflects the potential
dilution that could occur if dilutive securities were converted into
common shares and is computed similarly to fully diluted EPS pursuant
to previous accounting pronouncements.  SFAS 128 applies equally to
loss per share presentations.

The FASB issued Statement of Financial Accounting Standards No. 130:
Reporting Comprehensive Income ("SFAS 130"), effective for fiscal
periods beginning after December 15, 1997 and requiring restatement of
all comparative financial statements disclosed.  SFAS 130 requires that
all items required to be recognized under accounting standards as
components of comprehensive income be reported as part of the basic
financial statements.  The Company does not expect adoption of this new
standard to have a material effect on its financial reporting.

e)   Cash and Short-term Deposits

Cash and short-term deposits include government treasury bills and
bankers' acceptances with initial maturities no longer than 90 days,
together with accrued interest.

f)   Product Development Costs

Product development costs include expenses incurred by the Company to
develop, monitor and operate the Company's website.  Product
development costs are expensed as incurred.

NOTE 3 - COMMON STOCK

a)   Stock Options

During the 1999 fiscal period, stock options to purchase common shares
of the Company were granted, as follows:


                                 6
<PAGE> 9

VERIDA INTERNET CORP. (Formerly Austral Pacific Energy Corp.)
(A Development Stage Enterprise)
Notes to the Financial Statements
(Unaudited   Prepared by Management)

For the Six Month Periods Ended June 30, 1999 and 1998

NOTE 3 - COMMON STOCK (continued)

     Number of Shares    Price per Share     Expiry Date

     350,000             $  4.00             June 14, 2004
     680,000             $  5.25             June 14, 2004

These stock options are subject to various vesting and resale
restrictions with the exception of a stock option to purchase 300,000
common shares at a price of $5.25 per share.

Refer to Note 5

b)   Deferred Compensation

During the 1999 fiscal period, the Company recorded aggregate deferred
compensation cost of $437,500 as a result of granting stock options.
This amount represents the difference between the exercise price and
the quoted market price of the Company's common stock at the date of
grant.  Stock options to purchase a total of 350,000 common shares were
granted below the quoted market price at an exercise price of $4.00 per
share.

The amortization of deferred compensation is charged to operations over
the vesting period of the stock options.  No amortization was
recognized during the 1999 fiscal period.

c)   Private Placements

During the 1999 fiscal period, the Company issued 3,320,000 shares
pursuant to private placements for total cash proceeds of $133,700 and
cancelled 3,000,000 shares previously issued pursuant to a private
placement for total cash proceeds of $30,000.  Since these transactions
affect the Company's permanent capital, the financial statements for the
year ended December 31, 1998 were prepared giving retroactive effect to
these transactions.

Accordingly, the comparative figures for the 1998 fiscal period have
also been prepared giving retroactive effect to these transactions.
The 3,320,000 shares issued during the 1999 fiscal period are shown as
if they had been outstanding at the beginning of the 1998 fiscal
period.  The 3,000,000 shares issued during the 1997 fiscal year and
cancelled during the 1999 fiscal period are not shown as being issued.

Refer to Note 5



                                 7
<PAGE> 10

VERIDA INTERNET CORP. (Formerly Austral Pacific Energy Corp.)
(A Development Stage Enterprise)
Notes to the Financial Statements
(Unaudited   Prepared by Management)

For the Six Month Periods Ended June 30, 1999 and 1998

NOTE 4 - LOSS PER SHARE

Net loss per common share is computed based on the weighted-average
number of common shares and common share equivalents outstanding.

For the 1999 fiscal period, stock options outstanding have not been
included in the computation of diluted loss per share as the inclusion
of these securities would be antidilutive.  Consequently, no
differences existed between basic and diluted loss per share for the
periods presented.  The weighted-average number of shares outstanding
after giving retroactive effect to subsequent share transactions are
8,906,006 for the 1999 fiscal period and 7,691,586 for the 1998 fiscal
period.

Refer to Note 3

NOTE 5 - RELATED PARTY TRANSACTIONS

a)   Due to Related Party

During the 1999 fiscal period, the Company entered into two agreements
with a private company to design and produce the Company's internet site
and other corporate materials for an estimated total cost of $141,081
(1998 fiscal period - Nil), of which $132,971 was incurred by the
Company.  The President of the Company is also the president of this
private company.

At June 30, 1999, the Company owed $18,965 (June 30, 1998 - Nil) to
this private company.

b)   Loan Payable to Related Party

During the 1999 fiscal period, the Company repaid a $30,000 loan from
a private company wholly-owned by a former President of the Company.
This amount relates to the cancellation during the 1999 fiscal period
of 3,000,000 shares issued during the 1997 fiscal year for total cash
proceeds of $30,000.

Refer to Note 3

c)   Sale of Marketable Securities

During the 1999 fiscal period, the Company sold 59,800 shares of Trans-
Orient Petroleum Ltd. for cash proceeds of $81,972, net of commissions,
resulting in a loss of $92,958.  These available-for-sale securities
were originally acquired at a cost of $174,930 and reported
historically at market value, with unrealized gains and losses included
as a component of comprehensive income.
                                 8
<PAGE> 11

VERIDA INTERNET CORP. (Formerly Austral Pacific Energy Corp.)
(A Development Stage Enterprise)
Notes to the Financial Statements
(Unaudited   Prepared by Management)

For the Six Month Periods Ended June 30, 1999 and 1998

NOTE 5 - RELATED PARTY TRANSACTIONS (Continued)

c)   Sale of Marketable Securities

Trans-Orient Petroleum Ltd. is a public company with directors,
officers and/or principal shareholders in common with the Company.

d)   Employment Agreements and Stock Options

The Company entered into an employment agreement with the Company's
Executive Vice President at a rate of $7,500 per month.  The employment
agreement also provides for a stock option granted during the 1999
fiscal period to purchase 200,000 shares of the Company exercisable at
a price of $4.00 per share, subject to vesting provisions.

The Company entered into an employment agreement with the Company's
Chief Technology Officer at a rate of $4,000 per month.  The employment
agreement also provides for a stock option granted during the 1999
fiscal period to purchase 150,000 shares of the Company exercisable at
a price of $4.00 per share, subject to vesting provisions.

e)   Software Purchase Agreement

The Company entered into an agreement to purchase computer software
from NetOpus Incorporated in consideration of $181,250 consisting of
$50,000 in cash and 25,000 common shares of the Company at a deemed
price of $5.25 per share.  The Company has the right to use, brand,
sell and market this computer software including the right to modify
and customize at the Company's expense as required.  Additionally, the
Company has the right to share equally in any revenue generated from
any future sale or licensing of the modified computer software by
NetOpus Incorporated.

The Chief Technology Officer of the Company is the president of NetOpus
Incorporated.

f)   Consulting Agreement

During the 1998 fiscal period, the Company incurred $18,000 in
consulting fees to a private company wholly-owned by the former
President of the Company.

NOTE 6 - INCOME TAXES

There are no income taxes payable by the Company at June 30, 1999.



                                 9
<PAGE> 12

VERIDA INTERNET CORP. (Formerly Austral Pacific Energy Corp.)
(A Development Stage Enterprise)
Notes to the Financial Statements
(Unaudited   Prepared by Management)

For the Six Month Periods Ended June 30, 1999 and 1998

NOTE 7 - NAME CHANGE

On March 11, 1999, the name of the Company was changed from Austral
Pacific Energy Corp. to Verida Internet Corp.












































                                 10
<PAGE> 13

ITEM 2.  PLAN OF OPERATION

     Verida Internet Corp. (the "Registrant") is incorporated under the
laws of the State of Nevada. The common shares of the Registrant trade
on the OTC Bulletin Board ("OTCBB") as operated by the National
Association of Securities Dealers Inc. under the symbol "VERY".

     The head office of the Registrant is located at Suite 1500, 50
California Street, San Francisco, California 94111. The Registrant's
Internet web site address is www.verida.com.

     Management has determined that consistent with the Registrant's new
business plan, part of its plan of operation for the next 12 months is
to secure the necessary technological assets to support the proposed
products and services to be offered by the Registrant.

     The Registrant plans on offering a product "suite" of World Wide
Web ("Web") based services in order to allow potential clients to take
advantage of the technology of the Internet   cost-effectively finding
and selling to customers online, while developing ongoing electronic
commerce relationships with them, which in turn will help establish
company brands and capture customer loyalty. The Registrant seeks to
build a suite of applications both to provide a broad spectrum of
services and functions to its clients and a maintainable infrastructure
to support day-to-day internal operations and site administration.

     The suite of services intended to be offered by the Registrant to
its clients will be located on servers controlled by the Registrant,
allowing potential clients to access these services through their own
existing Internet connections utilizing standard Internet browsers such
as Netscape's "Communicator" or Microsoft's "Internet Explorer". The
client would not require any specialized software or hardware to use
the Registrant's services. The Registrant's products will be provided as
"web services" that can be accessed on a cost-effective, as-needed
basis at anytime over the Internet.

     The Registrant's planned product suite proposes to offer four types
of services in support of business-to-business e-commerce under the
following names:

1.   VeriPlace

     The proposed VeriPlace service is intended to create and support
Internet business communities ("IBCs"). IBCs are industry specific
online markets or exchanges that provide a market for buyers and
sellers in a specific industry. The main purpose of the VeriPlace
service is to provide Web technology to the Registrant's clients which
will allow them to conduct e-commerce, and aggregate, search, organize
and distribute information within their specific industry. During the
second quarter ending June 30, 1999, the Registrant also began
investigating and researching various industries which the Registrant
believes would be promising areas in which to launch future IBCs. Over
the course of the next few months the Registrant intends to begin the
process of selecting, designing and building certain IBCs which, in its
opinion, are warranted to launch the Registrant into the business of
building business-to-business IBCs.

<PAGE> 14

2.   VeriStore

     The proposed VeriStore service will provide e-commerce
transactional capabilities to manage and process transactions between
the client and its customers. VeriStore will offer two different levels
of e-commerce solutions. The first level of service will be tailored
towards clients who do not currently have a Web presence to advertise
their products ("E-Stores"). The service will allow customers to use
the Registrant's own Internet storefront as their "retail" location and
the Registrant's virtual back office infrastructure for their own E-
Stores. With minimal programming or Internet expertise, clients will be
able to immediately develop a secure, fully customized, commerce ready
online storefront and ordering system without programming. Clients
would simply create their E-Store, which would profile their products,
provide ordering instructions and product pricing, by filling in their
information through user friendly Web forms.

     In addition to providing a client with the capability to create
and maintain an E-Store on the Web, VeriStore will also provide a
virtual back office infrastructure to enable clients to handle all
aspects of online transactions. The virtual back office services will
provide clients with the necessary tools to manage and process online
transactions that occur when the client's customer purchases goods from
their E-Store. The back office services will include: (1) processing of
the client's customers orders and sending confirmations (2) online
payment processing in real time (3) calculating applicable shipping
costs and taxes (4) running multiple reports detailing online sales
statistics for any given period and (5) managing customer quiries.

     The back office services would also be available to clients who
already have established their own E-Store without the support of the
Registrant. While the client's E-Store Web page may be located elsewhere
on the Internet, it is intended that the back office services to be
offered by the Registrant will be flexible enough to be interoperable
with the client's pre-existing E-Store regardless of the design or
format in which it was created.

3.   VeriMark

     The proposed VeriMark service is intended to be a package of
automated online marketing solutions which will allow online marketers
to deploy, track and measure the cost effectiveness of their online
marketing efforts. The service will work as an automated electronic
marketing manager which will essentially automate the online marketing
process from the first customer contact to the "thank you" email at the
end of a sale.
     The VeriMark service will allow its clients to accomplish online
marketing campaign management including the sending of marketing email,
the posting of banner ads, building databases of prospects, sending
fulfillment and follow-up materials to prospects, and tracking
effectiveness ratios and statistics.





<PAGE> 15

4.   VeriBase

     The proposed VeriBase service is intended to provide data
warehousing services to clients in order to allow clients to
electronically store their customer's contact and demographic
information, track customer and prospect activity from online sales and
marketing activities and perform analysis including demographic
profiling and modeling. Through the tracking and analysis tools the
Registrant's clients will have the ability to better understand and
profile customers which will help define and target future marketing
and prospecting efforts.

     The VeriStore, VeriMark and VeriBase services are intended to
operate in an integrated manner where a client may use one or more of
the services in conjunction with another or as stand-alone services
where the client has the need for only one of the services.

     The Registrant is taking steps to acquire technology and retain
personnel to enable it to provide secure and comprehensive Internet-
based electronic commerce ("e-commerce") solutions for business-to-
business transactions. During the second quarter ending June 30, 1999
the Registrant began a process to research, validate and select the
optimal mix of pre-built products and/or development technologies to
best deliver the Registrant's chosen and anticipated set of services to
its customers. In selecting the appropriate base technology the
Registrant reviewed various existing products and tools sets with the
goal of selecting a technology which offered maximum flexibility,
scalability and stability.  The Registrant considers its business model
to be unique. Therefore, the Registrant requires a unique set of tools
to realize its business objectives. After reviewing the available
technologies in light of the Registrant's business goals, the Registrant
chose The Sales Associate System. The Sale Associate System is based
upon the Microsoft platform and includes store creation functionality,
shopping cart, secure transaction processing, extensive web-based
administration and integration with CyberCash and PaymentNet for real
time credit card processing

     As a result of its findings, the Registrant taken the initial step
of acquiring e-commerce software technology by entering into a software
purchase agreement with NetOpus Incorporated ("NetOpus") in order to
purchase the core technology necessary to support the services the
Registrant intends to offer.  NetOpus is a private company which owns
the rights to certain preexisting computer software marketed by NetOpus
as the "Sales Associate Store Creator" commerce system (the "Base
Technology").  Under the terms of the agreement, the Registrant
purchased the right to use, modify, customize, brand, sell and market
the Base Technology to provide online transaction processing
functionality and features within the sites that the Registrant
develops.








<PAGE> 16

     The Base Technology has been provided by NetOpus in consideration
of a onetime fee paid by the Registrant to NetOpus.  The onetime fee
consists of a combination of $50,000 and the issuance to NetOpus of
25,000 common shares of the Registrant. The 25,000 shares of the
Registrant will be restricted from resale for a period of 12 months
from the date of issuance. At the end of the twelve month period, the
shares may be re-sold at a rate that cannot exceed 2,083 shares per
month maximum or split adjusted.

     The Registrant is currently in the process of upgrading and
modifying the purchased software to enhance and further support
proposed services to be offered by the Registrant. The Registrant may
acquire or license additional software technology through a technology
licensing or purchase agreement to ensure that other proposed services
offered by the Registrant are delivered in a timely and useable manner
as part of the plan of operations for the next 12 months.

     Given the Registrant's current level of working capital and
operations being conducted to develop its products, it is expected that
the Registrant can satisfy its cash requirements until November 1999
before additional capital will have to be raised. Additional sources of
financing will most likely be sought through future private placements
of the Registrant's common shares rather than seeking interest-bearing
loans. However, the Registrant recognizes that as a result of its
limited, financial, managerial, or other resources, the number of
suitable financing options may be limited. Should these additional
sources of capital not be found the Registrant will modify its
operations to conserve working capital by concentrating on fewer
products and/or services being advanced.

     In addition to the Registrant's two pre-existing Officers, Mr.
Michael Hinshaw and Mr. Mark Katsumata, the Registrant has recently
hired an additional two Executive Officers who have considerable
experience within the computer industry.  Mr. Richard Cohn will fulfill
the duties of Executive Vice President of the Registrant while Mr.
Steve Zimmerman will fulfill the role of Chief Technology Officer. The
Registrant has also recently hired a new employee to direct the
Registrant's media and public relations. The Registrant is currently
seeking to secure new employees in software programming and technology
development and intends to hire any further employees on an as needed
basis.


                    PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

     The Registrant is not a party to any legal proceedings.









<PAGE> 17

        ITEM 2.     RECENT SALES OF UNREGISTERED SECURITIES

Placements of Securities

     During the quarter ending June 30, 1999 the Registrant has issued
the following unregistered securities at the following prices. There
were no underwriters engaged and no underwriting discounts or
commissions paid. All common stock issues were made pursuant to
exemptions from registration contained in Regulation S, Rules 901-905
and Section 4(2) of the 1933 Securities Act.

Common Stock Issuance

Date      Type of Security    Number    Proceeds  Exemption

1999
 05/13    Common Shares       60,000    $300,000  Reg. S (901-905)
 07/07    Common Shares       25,000    [1]       Section 4(2)

[1]  NetOpus Incorporated, a private company owned and controlled by
     Mr. Steve Zimmerman, entered into an agreement with the Registrant
     on June 11, 1999 whereby NetOpus is to be issued 25,000 shares of
     the Registrant at a settlement price of $5.25 per share under
     section 4(2) as partial payment for the sale of its technology
     assets.  Mr. Zimmerman is also an Executive Officer of the
     Registrant and as such, an affiliate of the Registrant. The
     Registrant granted the shares to NetOpus on July 7, 1999.

Stock Options Granted

     During the quarter ending June 30, 1999 the Registrant issued
options under its 1999 Stock Option Plan to directors, officers and key
employees to acquire its common shares in the following amounts:

                                        Exercise
Date      Type of Security    Number    Price     Term
1999
 06/14    Stock Option        500,000   $5.25     5 years [1]
 06/14    Stock Option        105,000   $5.25     5 years [2]
 06/14    Stock Option        350,000   $4.00     5 years [2]
 06/14    Stock Option         75,000   $5.25     5 years [3]


     All the above options were issued under Section 4(2) of the 1933
Securities Act. None of the options were exercised during the quarter
ending June 30, 1999.


Footnotes begin on following page.








<PAGE> 18

[1]  The option to acquire 200,000 shares of the Registrant was issued
     to the President of the Registrant and will vest upon the
     following schedule: at 6 months from granting he can exercise his
     option with respect to 25% of the total granted; at 12 months from
     granting he can exercise his option with respect to a further 25%
     of the total granted; at 24 months from granting he can exercise
     his option with respect to a further 25% of the total granted and
     at 36 months from granting he can exercise his option with respect
     to a final 25% of the total granted. The shares acquired on the
     exercise of the option carry resale restrictions which provide
     that up to a maximum of 10% of the total vested may be sold in any
     30 day period. The President of the Registrant was also granted a
     second option to acquire 300,000 shares of the Registrant. These
     options are not subject to any vesting or resale provisions.

[2]  The options where issued to various directors, officers and key
     employees. With respect to each individual receiving these
     options, the options will vest upon the following schedule: at 6
     months from granting the individual can exercise their option with
     respect to 25% of the total granted; at 12 months from granting
     the individual can exercise their option with respect to a further
     25% of the total granted; at 24 months from granting the
     individual can exercise their option with respect to a further 25%
     of the total granted and at 36 months from granting the individual
     can exercise their option with respect to a final 25% of the total
     granted. The shares acquired on the exercise the option carry
     resale restrictions which provide that up to a maximum of 10% of
     the total vested may be sold in any 30 day period.

[3]  The option was issued to a key employee and will vest upon the
     following schedule: at 12 months from granting the individual can
     exercise their option with respect to 12.5% of the total shares
     granted and thereafter the employee may exercise a further 12.5%
     in each 6 month period. The shares acquired on the exercise of the
     option carries resale restrictions which provide that up to a
     maximum of 10% of the total vested may be sold in any 30 day
     period.

   Use of Proceeds

     As discussed above in the Item 2 "Management Discussion" section,
the Registrant paid a one time fee consisting of $50,000 and the
issuance of 25,000 common shares to NetOpus as consideration for the
purchase of the Base Technology.

     During the six months ending June 30, 1999 the Registrant incurred
$104,818 in office and miscellaneous expenses.

Also see ITEM 5(b)


ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None.



<PAGE> 19

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

     During the quarter ended June 30, 1999, no matters were submitted
to the Registrant's security holders.


ITEM 5.  OTHER INFORMATION

     (a)  On June 14, 1999 the Registrant approved of the
implementation of a Stock Option Plan which authorizes the granting of
options to acquire up to a maximum of 3,000,000 common shares of the
Registrant to persons employed or associated with the Registrant,
including without limitation any employee, director, general partner,
officer, attorney, accountant, consultant or advisor. The Stock Option
Plan is intended to advance the best interests of the Registrant by
providing additional incentive to those persons who have a substantial
responsibility for its management, affairs, and growth by increasing
their proprietary interest in the success of the Registrant, thereby
encouraging them to maintain their relationships with the Registrant.
Further, the availability and offering of Stock Options under the Plan
supports and increases the Registrant's ability to attract, engage and
retain individuals of exceptional talent upon whom, in large measure,
the sustained progress, growth and profitability of the Registrant for
the shareholders depends.

     (b)  During the six month period ending June 30, 1999, the
Registrant entered into two agreements with a private company to design
and produce the Registrant's internet site and other corporate materials
for an estimated total cost of $141,081 (1998 fiscal period - Nil), of
which $132,971 was incurred by the Registrant.  The President of the
Registrant is also the president of this private company.


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a) The following Exhibits are a part of this Form 10-Q.

     Exhibit   Description
     Number
     27.3      Financial Data Schedule
     99.3      Share Option Plan
















<PAGE> 20

                             SIGNATURES

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

                                   VERIDA INTERNET CORP.
                                   (Registrant)


Dated: August 12, 1999             By:  /s/ Michael Hinshaw
                                        Michael Hinshaw, President


Dated August 12, 1999              By:  /s/ Mark Katsumata
                                        Mark Katsumata, Principal
                                        Financial Officer