<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 September 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  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 [X]                 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: 9,150,571 outstanding as of September
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>
                                        September 30,  September 30,
                                        1999           1998
<S>                                     <C>            <C>
ASSETS
Current
  Cash and short-term deposits          $  1,246,764   $   196,336
  Prepaid expenses                             7,224            -
  Subscriptions receivable                        -        133,700
                                        ------------   -----------
                                           1,253,988       330,036
  Property and equipment, net                 60,621            -
  Deposit (Note 3)                           150,000            -
  Capitalized software development
   costs, net (Note 6)                       161,110            -
                                        ------------   -----------
TOTAL ASSETS                            $  1,625,719   $   330,036
                                        ============   ===========
LIABILITIES
Current
 Accounts payable and accrued
  liabilities                           $     63,964   $     2,078
 Due to related party (Note 6)                46,323            -
 Loan payable to shareholder (Note 6)        202,000            -
 Loan payable to related party (Note 6)           -         30,000
                                        ------------   -----------
TOTAL LIABILITIES                            312,287        32,078
                                        ------------   -----------
STOCKHOLDERS' EQUITY
Common stock, $0.00001 par value;
 100,000,000 shares authorized (Note 4)
 (1999: 9,150,571 shares issued and
 outstanding) (1998: 8,887,000 shares
 issued and outstanding)                          92            89
  Additional paid-in capital               2,459,365       340,621
  Deferred compensation (Note 4)            (437,500)           -
  Deficit accumulated during the
   development stage                        (708,525)      (42,752)
                                        ------------   -----------
TOTAL STOCKHOLDERS' EQUITY                 1,313,432       297,958
                                        ------------   -----------
TOTAL LIABILITIES AND STOCKHOLDERS'
 EQUITY                                 $  1,625,719   $   330,036
                                        ============   ===========
</TABLE>
                                 1

<PAGE> 3

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

Interest income     $       9,705  $       3,233  $       15,182
                    -------------  -------------  --------------
OPERATING EXPENSES
Depreciation and
 amortization              23,529             -           23,529
Product development       224,897             -          224,897
General and
 administrative           331,366         19,655         382,323
Loss on sale of marketable
 securities (Note 6)       92,958             -           92,958
                    -------------  -------------  --------------
                          672,750         19,655         723,707
                    -------------  -------------  --------------
NET LOSS FOR THE
 PERIOD             $    (663,045) $     (16,422) $     (708,525)
                    ============== =============  ==============
BASIC AND DILUTED LOSS
 PER SHARE (Note 5) $       (0.07) $       (0.00) $        (0.12)
                    =============  =============  ==============
</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>
                         Nine Month     Nine Month     November 1, 1996
                         Period Ended   Period Ended   (inception) to
                         September 30,  September 30,  September 30,
                         1999           1998           1999
<S>                      <C>            <C>            <C>
OPERATING ACTIVITIES
Net loss for the period  $   (663,045)  $     (16,422) $   (708,525)
Adjustments and changes in
 non-cash working capital:
 Depreciation and
  amortization                 23,529              -         23,529
 Loss on sale of marketable
  securities                   92,958              -         92,958
 Prepaid expenses              (7,224)             -         (7,224)
 Accounts payable and
  accrued liabilities          59,386              78        63,964
 Due to related party          46,323              -         46,323
                         ------------   -------------  ------------
Net cash used in operating
 activities                  (448,073)        (16,344)     (488,975)
                         ------------   -------------  ------------
FINANCING ACTIVITIES
Common shares issued
 for cash                   1,683,697          59,010     1,900,707
Cost of common stock
 offering                          -               -        (10,000)
Repayment of loan payable
 to related party             (30,000)             -        (30,000)
Loan payable to related party      -               -         30,000
Loan payable to shareholder   202,000              -        202,000
                         ------------   -------------  ------------
Net cash provided by
 financing activities       1,855,697          59,010     2,092,707
                         ------------   -------------  ------------
INVESTING ACTIVITIES
Purchase of property and
 equipment                    (64,010)             -        (64,010)
Payment of deposit towards
 purchase of Triad
 Creative, Inc.              (150,000)             -       (150,000)
Purchase of software from
 NetOpus Incorporated         (50,000)             -        (50,000)
Proceeds from sale of
 marketable securities         81,972              -         81,972
Purchase of marketable
 securities                        -               -       (174,930)
                         ------------   -------------  ------------
Net cash used in
 investing activities        (182,038)             -       (356,968)
                         ------------   -------------  ------------
Net increase in cash        1,225,586          42,666     1,246,764
Cash position - Beginning
 of period                     21,178         153,670            -
                         -------------  -------------  ------------
Cash position -
 End of period           $   1,246,764  $     196,336  $  1,246,764
                         =============  =============  ============
</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 Nine Month Periods Ended September 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 and $7.00
 per share (Note 6)        238,571     3            1,549,994
Common stock issued to
 NetOpus Incorporated at
 $5.25 per share (Note 6)   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
  September 30, 1999     9,150,571 $  92          $ 2,459,365    $ (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 4)               5,287,000    53              192,657
Net loss during the period
                         --------- -----          -----------    ----------
Balance at
  September 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 Nine Month Periods Ended September 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 and $7.00
 per share (Note 6)                                                1,549,997
Common stock issued to
 NetOpus Incorporated at
 $5.25 per share (Note 6)                                            131,250
Deferred compensation
  related to stock options                                                -
Net loss during the period (663,045)                                (663,045)
Loss on sale of marketable
  securities realized                           94,574                94,574
                         ----------          ---------           -----------
Balance at
  September 30, 1999     $ (708,525)         $      -            $ 1,313,432
                         ==========          =========           ===========

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 4)                                           192,710
Net loss during the period  (16,422)                                 (16,422)
                         ----------          ---------           -----------
Balance at
  September 30, 1998     $  (42,752)         $      -            $   297,958
                         ==========          =========           ===========
</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 Nine Month Periods Ended September 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.









                                 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 Nine Month Periods Ended September 30, 1999 and 1998

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

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.

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.








                                 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 Nine Month Periods Ended September 30, 1999 and 1998

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

f)   Property and Equipment

Property and equipment are stated at cost and are depreciated on a
straight-line basis over their estimated useful lives of three years.
Leasehold improvements are amortized on a straight-line basis over the
shorter of the lease term or the estimated useful life of the
improvements.

Property and equipment consist of the following:

                                   September 30,  September 30,
                                   1999           1998
Computer equipment and software    $    55,997    $   -
Leasehold improvements                   8,013        -
                                   -----------    ------
                                        64,010        -
Accumulated depreciation and
 amortization                           (3,389)       -
                                   -----------    ------
                                   $    60,621    $   -
                                   ===========    ======

g)   Capitalized Software Development Costs

Capitalized software development costs are amortized on a straight-line
basis over their estimated useful lives of three years.

h)   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 - DEPOSIT

The Company entered into a letter of intent to purchase Triad Creative,
Inc., a private company owned by the President of the Company, in
consideration of $750,000 in cash and 150,000 common shares of the
Company, subject to resale restrictions.   A non-refundable deposit of
$150,000 was paid to the President of the Company, which will be
credited towards the cash amount to be paid upon closing.

Refer to Notes 6 and 9



                                 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 Nine Month Periods Ended September 30, 1999 and 1998

NOTE 4 - COMMON STOCK

a)   Stock Options and Share Purchase Warrants

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

          Number of Shares    Price per Share     Expiry Date

          350,000             $ 4.00              June 14, 2004
          680,000             $ 5.25              June 14, 2004
            6,667             $ 7.20              August 13, 2004
          100,000             $ 7.00              August 15, 2004
            5,000             $ 9.12              September 15, 2004
            5,067             $ 9.10              September 21, 2004

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

During the 1999 fiscal period, share purchase warrants were issued to
purchased 178,571 common shares of the Company at a price of $10.00 per
share expiring on August 27, 2002.

Refer to Note 6

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.








                                 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 Nine Month Periods Ended September 30, 1999 and 1998

NOTE 4 - COMMON STOCK (continued)

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 6

NOTE 5 - 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
8,947,215 for the 1999 fiscal period and 8,094,436 for the 1998 fiscal
period.

Refer to Note 4












                                 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 Nine Month Periods Ended September 30, 1999 and 1998

NOTE 6 - RELATED PARTY TRANSACTIONS

a)   Due to Related Party

During the 1999 fiscal period, the Company entered into various
agreements with Triad Creative, Inc. to design and produce the Company's
internet sites and other corporate materials for an estimated total
cost of $312,303 (1998 fiscal period - Nil), of which $275,486 was
incurred by the Company.  Triad Creative, Inc. is a private company
owned by the President of the Company.  At September 30, 1999, the
Company owed $46,323 (September 30, 1998 - Nil) to this private
company.

Refer to Note 3

b)   Loan Payable to Shareholder

During the 1999 fiscal period, the Company obtained a loan from a
shareholder of the Company and issued a promissory note for $200,000.
The promissory note accrues interest at a rate of 8% per annum and is
due in full on or before August 16, 2000.

c)   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 4

d)   Transactions with Related Party

During the 1999 fiscal period, the Company sold 59,800 shares of Trans-
Orient Petroleum Ltd. ("Trans-Orient") 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.







                                 10

<PAGE> 13

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

For the Nine Month Periods Ended September 30, 1999 and 1998

NOTE 6 - RELATED PARTY TRANSACTIONS (continued)

During the 1999 fiscal period, the Company issued 178,571 units at a
price of $7.00 per share to Trans-Orient for cash proceeds of
$1,249,997 pursuant to a private placement.  Each unit consists of one
common share and one share purchase warrant to purchase one additional
share at a price of $10.00 per share expiring on August 27, 2002.

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

e)   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 and resale provisions.

The Company entered into an employment agreement with the Company's
Chief Technology Officer at a rate of $9,167 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 and resale provisions.

The Company entered into an employment agreement with the Company's Vice
President of Engineering at a rate of $9,167 per month.  The employment
agreement also provides for a stock option granted during the 1999
fiscal period to purchase 100,000 shares of the Company exercisable at
a price of $7.00 per share, subject to vesting and resale provisions.

The Company entered into employment agreements with various other
employees at an aggregate rate of $22,750 per month.  These employment
agreements also provide for stock options granted during the 1999
fiscal period to purchase an aggregate of 91,734 shares of the Company
exercisable at prices between $5.25 and $9.12 per share, subject to
vesting and resale provisions.

Refer to Note 9

f)   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.
                                 11
<PAGE> 14
VERIDA INTERNET CORP. (Formerly Austral Pacific Energy Corp.)
(A Development Stage Enterprise)
Notes to the Financial Statements
(Unaudited   Prepared by Management)

For the Nine Month Periods Ended September 30, 1999 and 1998

NOTE 6 - RELATED PARTY TRANSACTIONS (continued)

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

g)   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 7 - INCOME TAXES

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

NOTE 8 - NAME CHANGE

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

NOTE 9 - SUBSEQUENT EVENTS

In October 1999, the Company entered into an employment agreement with
the Company's President and Chief Executive Officer at a rate of $15,000
per month.

In October 1999, the Company completed the purchase of Triad Creative,
Inc., a private company owned by the President of the Company.

Refer to Note 3






















                                 12


<PAGE> 15

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.

     The Registrant's plan of operations for the next 12 months contains
several overlapping sets of activities for the development, deployment,
marketing, sales, customer service and support of the Registrant's
products and services.  The Registrant will develop or secure and
deploy appropriate software, hardware, and human resources to achieve
its business goals.

     The Registrant will offer a product set of World Wide Web ("Web")
based services to allow clients in the business-to-business sector to
conduct commerce on the Internet.  The set of services offered by the
Registrant to its clients will be located on servers controlled by the
Registrant, and accessed by clients 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 offerings in support of business-to-business
e-commerce come under the following names:

1.  VeriPlace

     VeriPlace is the brand name for the Registrant's online markets for
business-to-business transactions in targeted industry and market
segments.  The Registrant is developing this offering to provide
interactive marketplaces for businesses within a specific industry
segment to buy and sell products and services.  The Registrant is
developing and licensing technology for these online markets that will
facilitate commercial transactions on the Internet in the setting of an
exchange, a catalogue, an auction or some combination of these
settings.  All VeriPlace online markets will be based on a central
technology infrastructure developed by the Registrant, and may include
technology components which are licensed. The Registrant plans for each
VeriPlace online market to be customized to meet the transactional
needs of the particular industry and market segment it serves.

     In addition to its commercial transaction functionality, the
Registrant is developing its VeriPlace offerings to include other
elements such as the distribution of news and information targeted to
the specific industry or market segment served by a particular
VeriPlace online market.  The Registrant is working with a highly
regarded distributor of global and industry news and information on the
Internet for the news and information element of the VeriPlace online
markets.  The Registrant is also developing and licensing systems for
the service and support of VeriPlace customers.



<PAGE> 16

     The Registrant continues to investigate, research, and identify
various opportunities for potential VeriPlace offerings in the
agricultural, construction, financial services, environmental and
energy industries.  The Registrant has also begun the process of
targeting, designing and building specific VeriPlace offerings that, in
its opinion and in the opinions of individuals and/or organizations who
are intimate with said industry and market segments, will serve
specific industry and market segments not adequately served by existing
Internet commerce offerings.

2.  VeriSuite

     VeriSuite is the brand name of the Registrant's e-commerce offering
for businesses which may choose to participate in a certain VeriPlace
online market, and are either uninterested in developing or are unable
to develop an e-commerce infrastructure for their own business. The
primary components of VeriSuite include VeriStore, providing e-commerce
transactional capabilities, VeriMark, a package of automated online
marketing tools, and VeriBase, providing data warehousing services.

     (a) VeriStore

     VeriStore will provide e-commerce transactional capabilities to
manage and process transactions between an individual client and its
customers.  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 queries.

     (b)  VeriMark

     The Registrant is developing the VeriMark service as a package of
automated online marketing tools which will allow VeriStore marketers
to deploy, track and measure the cost effectiveness of online marketing
efforts. The service will also work as an automated electronic
marketing manager that will automate the tracking of the online
marketing process from the first customer contact through sales and
fulfillment.

     (c)  VeriBase

     The VeriBase service will provide data warehousing services to
allow VeriStore operators to electronically store their customers'
contact and demographic information, track customer and prospect
activity from online sales and marketing activities and perform
analysis including demographic profiling and modeling.

     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.


<PAGE> 17

     The Registrant has also undertaken significant steps to develop
branding for the company and its offerings, to establish and implement
an integrated marketing plan, to develop an accurate and positive
public identity among the news media and industry experts, and to ally
with key business and technology leaders.

     The Registrant continues to develop its human resources and
staffing plan and is hiring employees and contracting with specialists
to achieve its business goals in a cost-effective manner. During the
quarter ending September 30, 1999, the Registrant hired a Vice
President of Engineering, and three new employees to fulfill the roles
of development engineer, system engineer and technical lead (see Note
6(e) of ITEM 1. FINANCIAL STATEMENTS under PART 1 - FINANCIAL
INFORMATION). Additionally, the Registrant has recently secured the
services of a marketing counsel on a consulting basis to aid in
developing the marketing efforts of the Registrant. To accommodate its
growth, the Registrant has leased additional office space and is
developing a site plan to consolidate its employees in a central
location that provides its employees with a highly desirable and
productive working environment.

     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 March 2000
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.


                    PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

     The Registrant is not a party to any legal proceedings.


        ITEM 2.  RECENT SALES OF UNREGISTERED SECURITIES

Placements of Securities

     During the quarter ending September 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
of the 1933 Securities Act.

Common Stock Issuance

          Type of
Date      Security  Number    Proceeds       Exemption

09/02/99  Units     178,571   $1,249,997     Reg. S (901-905)[1]


<PAGE> 18

[1]  Each Unit acquired was acquired at a price of $7.00 per unit and
     is comprised of one common share and one warrant. Each warrant
     entitles Trans-Orient Petroleum Ltd. to purchase an additional
     common share at a price of $10 per share within a three year
     period. Trans-Orient Petroleum Ltd. is a public company with
     directors, officers and/or principal shareholders in common with
     the Registrant.

     See Item 2 "Common Stock Issuances" of the Registrant's Form 10-QSB
filed on August 13, 1999, which is hereby incorporated by reference,
for further information on earlier placements of the Registrant's Common
Stock.

     See Item 5 (c)

Stock Options Granted

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

               Type of                  Exercise
Date           Security       Number    Price          Term

08/13/99       Stock Option     6,667   $7.20          5 years [1]
08/15/99       Stock Option   100,000   $7.00          5 years [2]
09/15/99       Stock Option     5,000   $9.12          5 years [1]
09/21/99       Stock Option     5,067   $9.10          5 years [1]

     All of the above options were issued under Section 4(2) of the
1933 Securities Act. No options were exercised during the quarter
ending September 30, 1999.

[1]  12.%5 of Option may be exercised at 12 months and 12.5% every 6
     months thereafter.
[2]  12.5% of Option may be exercised at 6 months and 12.5% every 6
     months thereafter until month 42 at which time a final 25% may be
     exercised.

     See Item 2 "Stock Options Granted" of the Registrant's Form 10-QSB
filed on August 13, 1999, which is hereby incorporated by reference,
for further information on earlier placements of the Registrant's Common
Stock.

Use of Proceeds

     During the nine months ending September 30, 1999, the Registrant
incurred $224,897 (see ITEM 5 (b)) in costs to design and produce the
Registrant's web site and to further design and produce the Registrant's
VeriPlace products. A further $331,366 in office and administrative
expenses were incurred during the nine month period ending September
30, 1999.

     During the quarter ending September 30, 1999, the Registrant
purchased certain computer and hardware assets in support of its
business including $29,315 in computer server equipment, $26,682 in
office computer equipment and $8,013 in leasehold improvements.

Also see ITEM 5(c)

<PAGE> 19

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

     None.


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

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


ITEM 5.  OTHER INFORMATION

     (a)  On August 16, 1999, the Registrant obtained a $200,000 loan
from a non-affiliate shareholder of the Registrant and issued a
promissory note for such.  The promissory note accrues interest at a
rate of 8% per annum and is due in full on or before August 16, 2000.

     (b)  During the nine months ending September 30, 1999, the
Registrant entered into various agreements with Triad Creative, Inc. to
design and produce the Registrant's internet sites and other corporate
materials for an estimated total cost of $312,303 (1998 fiscal period -
Nil), of which $275,486 was incurred by the Registrant.  Of the
$275,486 incurred, $224,897 is directly related to product development
while the remainder was attributable to office and administrative
expenses. Triad Creative, Inc. is a private company owned by the
President of the Registrant which, in addition to providing its
services to the Registrant, has a broad spectrum of other clientele
which it provides marketing and communications services to.  At
September 30, 1999, the Registrant owed $46,323 (September 30, 1998 -
Nil) to this private company.

     (c)  During the quarter ending September 30, 1999, the Registrant
entered into a letter of intent to purchase Triad Creative, Inc., a
private company owned by the President of the Registrant, in
consideration of $750,000 in cash and 150,000 common shares of the
Company, subject to resale restrictions. The total purchase price to be
paid by the Registrant, including both shares and cash, for the
purchase of Triad Creative Inc. is $1,800,000. Prior to determining the
price to be paid, the Registrant's board of directors received an
independent evaluation of the value of Triad Creative, Inc. The
evaluation determined that the fair market value of Triad Creative,
Inc. was between $1,700,000 to $2,100,000. A non-refundable deposit of
$150,000 was paid to the President of the Registrant on the signing of
the letter of intent, which will be credited towards the cash amount to
be paid upon closing. Subsequent to September 30, 1999, the Registrant
and its President have executed the purchase agreement whereby Triad
Creative, Inc. will become a wholly-owned operating subsidiary of the
Registrant. Triad Creative, Inc. will continue to operate its pre-
existing business as a subsidiary of the Registrant upon the closing of
the proposed transaction.

     (d)  During the quarter ending September 30, 1999, the Registrant
acquired Directors' and Officers' and Company Reimbursement Indemnity
Insurance ("D&O Insurance") with an upper of liability limit of
$2,000,000. The annual cost to the Registrant for the D&O Insurance is
$47,000.




<PAGE> 20

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

27.1      Financial Data Schedule
99.1      Employment Agreement for Vice President - Engineering
99.2      Promissory Note

                             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: November 12, 1999      By:  /s/ Michael Hinshaw
                                   Michael Hinshaw, President


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