UNITED STATES SECURITIES AND EXCHANGE COMMISSION
450 Fifth Street, N.W.
Washington, D. C. 20549



FORM 10-QSB



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



For the quarterly period ended December 31, 2004



[ ] TRANSITION REPORT UNDER SECTION 14 OR 15(d) OF THE EXCHANGE ACT

For the transition period from ____________ to ______________



Commission file number 000-30675



EnXnet, Inc.

(Exact name of Small Business Issuer in its charter)

Oklahoma                               73-1561191

(State of Incorporation)     (I.R.S. Employer Identification No.)

11333 E. Pine St
Tulsa, Oklahoma 74116

(Address of principal executive offices.)

Registrant's telephone number: (918) 592-0015

Former Company:

Former Conformed Name: Emajix.com, Inc

Date of Name change: 20010801


As of January 25, 2005, there were 24,922,264 shares of Common Stock,
$0.00005 par value, of the issuer outstanding.
=================================================================



INDEX

Part I. FINANCIAL INFORMATION

ITEM I. Financial Statements

Balance Sheets
December 31, 2004 and March 31, 2004                                3

Statements of Loss
For the nine months ended December 31, 2004 and 2003,
and from inception (March 30, 1999) to December 31, 2004            4

Statements of Changes in Stockholders Equity (deficit)              5

Statements of Cash Flows
For the nine months ended December 31, 2004 and 2003;
and from inception (March 30, 1999) to December 31, 2004           6-7

Summary of Accounting Policies                                     8-10

Notes to Financial Statements                                     10-20

Item 2. Managements Discussion and Analysis or Plan of Operation  21-22

Item 3. Controls and Procedures                                     22

PART II. OTHER INFORMATION

Item 1. Legal Proceedings                                           23

Item 2. Changes in Securities                                       23

Item 3. Defaults Upon Senior Securities                             23

Item 4. Submission of Matters to a Vote to Security Holders         23

Item 5. Other Information                                           23

Item 6. Exhibits and Reports on Form 8-K                            23

SIGNATURES                                                          24

Exhibit 31.1     Certification of financial statements
                   Chief Executive Officer &
                   Chief Financial Officer                          25

Exhibit 31.2     Certification of financial statements
                   Chief Financial Officer                          27

Exhibit 32.1     Certification pursuant to
                   18 U. S. C. section 1350,
                   as adopted pursuant to
                   section 906 of the
                   Sarbanes-Oxley Act of 2002                       29


EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS
                                                      December 31, March 31,
                                                          2004        2004
ASSETS                                                (Unaudited)  (Audited)
Current assets:
Cash                                                  $   25,983   $  5,206
Accounts receivable (net allowance for
doubtful accounts of $ 0, and $ 0, respectively)         165,251      3,613
Other receivable                                           1,000       -
Prepaid expense                                            8,222     97,892
                                                       _________   ________
Total current assets                                     200,456    106,711
                                                       _________   ________

Equipment, net  (Note 1)                                   5,913      7,975
                                                       _________   ________
Other assets:
Deposits and deferred charges                              1,137      2,350
Licenses, net (Note 4)                                   208,763    237,892
Marketable securities (Note 3)                           128,621    148,859
Equity interest (Note 3)                                 100,000       -
                                                       _________    _______
Total other assets                                       438,521    389,101
                                                       _________    _______
Total assets                                          $ $644,890   $503,787
                                                       =========    =======

LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)
Current liabilities:
Accounts payable and accrued expenses                 $  208,596  $ 110,707
Advances from officer-related party  (Note 7)             12,265     27,550
Advances from shareholder  (Note 7)                      207,503    201,987
Notes payable  (Note 6)                                  255,894     60,554
Notes payable-related party (Note 6)                     573,215    527,215
                                                       _________   ________
Total current liabilities                              1,257,473    928,013
                                                       _________   ________
Stockholders' equity (deficit)
Common stock, $.00005 par value;
200,000,000 shares authorized;
24,922,264 and 24,326,800 issued and
outstanding December 31, 2004 and March 31, 2004           1,246      1,216
Additional paid-in capital                             1,615,056  1,399,404
Common stock subscribed                                     -       (19,665)
Deficit accumulated during the development stage      (2,237,116)(1,789,550)
Other comprehensive income                                 8,231    (15,631)
                                                       _________   ________
Total stockholders equity (deficit)                     (612,583)  (424,226)
                                                       _________   ________
Total liabilities and stockholders' equity (deficit)  $  644,890  $ 503,787
                                                       =========   ========


See accompanying summary of accounting policies and
notes to financial statements.  <page 3>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF LOSS (Unaudited)
                                                                   Date from
                                                                   Inception
                                Three                 Nine      (March 30, 1999)
                             Months Ended          Months Ended        to
                             December 31,          December 31,    December 31,
                            2004      2003        2004       2003       2004

Revenues                 $ 159,125 $  19,765  $ 381,173  $  26,618 $   417,194
Cost of revenues            98,485    15,704    247,196     20,988     273,912
                           _______   _______    _______    _______   _________

Gross profit                60,640     4,061    133,977      5,630     143,282
                           _______   _______    _______    _______   _________
Operating expenses:
Consulting fees             14,040    25,310    192,320     61,194     453,237
Depreciation & amortization 10,653    12,046     31,958     36,139     206,235
Bad debts                     -        5,988       -         5,988       5,988
Royalties                    9,450       800      9,450     25,800      35,250
Advertising                  3,500      -         6,833       -          6,833
Payroll                     52,645    39,047    158,986    132,217     925,830
Professional services       24,701     6,132     77,003     21,340     195,207
Occupancy expense            9,249    13,737     29,968     39,943     200,386
Office expense               7,489     4,815     22,876     17,794      99,430
Travel expense               4,818     3,367     16,714     24,384      98,925
Other expense                2,512     1,717      3,950      2,331      31,269
                           _______   _______    _______    _______   _________
Total operating expenses   139,057   112,959    550,058    367,130   2,258,590
                           _______   _______    _______    _______   _________
Operating loss            ( 78,417) (108,898)  (416,081)  (361,500) (2,115,308)

Other income (expense):
Gain (loss) on sale of
 marketable securities    (    230)     -      (    230)      -     (   17,044)
Interest income                  6         8         71         16          92
Interest expense          ( 12,360) (  8,850)  ( 31,325)  ( 25,567) (  104,856)
                           _______   _______    _______    _______   _________
Net loss                  ( 91,001) (117,740)  (447,566)  (387,051) (2,237,116)

Other comprehensive income(loss):
Net unrealized gain(loss)on
 marketable securities      45,127  ( 43,742)    23,862     30,220       8,985
                           _______   _______    _______    _______   _________
Comprehensive loss        ( 45,874) (161,482)  (424,704) $(356,831)$(2,228,131)
                           =======   =======    =======    =======   =========
Net loss per share
  basic and diluted      $(   .004)$(   .005)   $ (.018)$    (.016) $    (.111)
                           =======   =======    =======    =======   =========
Weighted average number
  of shares
  basic and diluted     24,845,688 23,749,946 24,633,681 23,749,946  20,164,404
                        ========== ========== ========== ==========  ==========

See accompanying summary of accounting policies and
notes to condensed financial statements.  <page 4>


EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (DEFICIT)(Unaudited)

<TABLE>
<S>                      <C>         <C>     <C>          <C>         <C>         <C>           <C>

                                                                       Deficit
                                                                      Accumulated
                                  Common Stock            Additional   During the      Other
                         _______________________________   Paid-in    Development  Comprehensive
                           Shares    Amount  Subscribed     Capital       Stage        Income       Total
                         __________  ______  ___________  __________  ___________  _____________ __________
Balance: March 31, 2004  24,326,800  $1,216  $   (19,665) $1,399,404  $(1,789,550) $     (15,631)$(424,226)
Common stock
  issued for:
   Cash                     250,000      12                   74,988         -             -        75,000
   Services                 331,264      17                   83,101         -             -        83,118
   Options exercised         14,200       1       19,665       7,099         -             -        26,765
Options issued for services    -          -         -         39,793         -             -        39,793
Options issued with notes      -          -         -         10,671         -             -        10,671
Net loss                       -          -         -           -      (  447,936)         -      (447,936)
Other comprehensive income     -          -         -           -            -           23,862     23,862
                         __________  ______  ___________  __________  ___________  _____________ __________
Balance:
    December 31, 2004    24,922,264  $1,246  $      -     $1,615,056  $(2,237,116) $      8,231  $(612,583)
                         ==========  ======  ===========  ==========  ===========  ============= ==========
</TABLE>












See accompanying summary of accounting policies and
notes to financial statements.  <page 5>


EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS (Unaudited)
                                                                  Date from
                                                                  Inception
                                                               (March 30, 1999)
                                            Nine Months Ended         to
                                               December 31,     December 31,
                                             2004        2003        2004
Cash flows from operating activities:
Net loss                                  $(447,566) $(387,051)  $(2,237,116)
Adjustments to reconcile net loss to cash
 flows from operating activities:
Depreciation and amortization                31,959     36,139       206,236
(Gain) Loss on sale of
 marketable securities                          230       -           17,044
Stock issued for equipment                     -          -              500
Stock issued for services                    83,118     20,600       227,756
Options issued for services                  39,793     34,541       101,586
Options issued with notes                     1,011       -            1,011
Changes in operating assets and liabilities:
Accounts and other receivable              (162,639)     1,067    (  166,252)
Prepaid expense                              89,670   (     10)       89,435
Accounts payable and accrued expenses       121,198    236,522       449,177
                                            _______    _______     _________
Net cash flows from operating activities   (243,226)  ( 58,192)   (1,310,623)
                                            _______    _______     _________
Investing activities:
Purchase of fixed assets                   (    767)      -       (   53,136)
Other assets                                  1,213       -         (  1,137)
Purchase of equity interest investments    (100,000)      -       (  100,000)
Proceeds from sale of
 marketable securities                       43,870       -          132,750
                                            _______    _______     _________
Net cash flows from
 investing activities                      ( 55,684)      -       (   21,523)
                                            _______    _______     _________
Financing activities:
Proceeds from note payable-
 related party                              251,000     40,000       878,769
Proceeds from advances from
 officer and shareholder                    187,922       -          381,310
Proceeds from sale of common stock          101,765     10,200       790,181
Repayment of advances                      (221,000)      -         (402,132)
Repayment of note payable                      -          -         (290,000)
                                            _______    _______     _________
Net cash flows from financing activities    319,687     50,200     1,358,128
                                            _______    _______     _________
Net increase in cash                         20,777   (  7,992)       25,983

Cash, beginning of period                     5,206     13,278          -
                                            _______    _______     _________
Cash, end of period                        $ 25,983   $  5,286   $    25,983
                                            =======    =======     =========


See accompanying summary of accounting policies and
notes to financial statements.  <page 6>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS (Unaudited) - continued





Supplemental disclosures of cash flow information:
                                                                  Date from
                                                                  Inception
                                                               (March 30, 1999)
                                            Nine Months Ended         to
                                               December 31,     December 31,
                                             2004        2003        2004
Cash flows from operating activities:
Cash paid during the period for:
Interest                                  $   -      $   -       $ 18,889
Income taxes                              $   -      $   -       $   -

Non-cash financing activities:
Issuance of notes payable in exchange for
 accounts payable                         $   -      $ 40,000    $318,726
Issuance of notes payable in exchange
 for ClearVideo license                       -          -       $250,000
Issuance of common stock in exchange
 for ClearVideo license                   $   -      $ 14,800    $132,575
Issuance of common stock for service      $ 83,118   $ 20,600    $227,756
Issuance of common stock for future
 prepaid services                         $   -      $   -       $ 97,649
Issuance of common stock for equipment        -          -       $    500
Issuance of common stock in exchange
 for Fonar common stock-net of
 $27,018 issuance fees                    $   -      $   -       $243,166
Issuance of stock options for services    $ 39,793   $ 34,539    $101,586



















See accompanying summary of accounting policies and
notes to financial statements.  <page 7>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
SUMMARY OF ACCOUNTING POLICIES

     The accompanying unaudited financial statements have been prepared
in accordance with accounting principles generally accepted in the United
States of America for interim financial information and in accordance with
the instructions to Form 10-QSB and Items 303 and 310(b) of Regulation S-B.
Accordingly, they do not include all of the information and footnotes required
by accounting principles generally accepted in the United States of America for
complete financial statements. In the opinion of management, all adjustments
(consisting of normal recurring adjustments) considered necessary for a fair
presentation have been included.  Operating results for the nine months
ended December 31, 2004, are not necessarily indicative of the results that
may be expected for the year ended March 31, 2005. For further information,
refer to the financial statements and footnotes thereto included in the
EnXnet, Inc. or the "Company" audited financial statements for the year
ended March 31, 2004 included in the Company Form 10-KSB.

THE BUSINESS

     EnXnet, Inc. (the "Company") is a development stage enterprise
formed under the laws of the State of Oklahoma on March 30, 1999 as
Southern Wireless, Inc.    It is a business and technology development
enterprise engaged in the development, marketing, and licensing of
emerging technologies and innovative business strategies and practices,
focusing primarily on products, solutions, and services which support
and enhance multimedia management. The Company changed its name to
eMajix.com, Inc. on April 5, 2000 and on August 1, 2001 the name was
changed to EnXnet, Inc.

Products and Services

DVDPlus

     The Company entered into a license on June 2, 2003 with DVDPlus
International, Inc. to manufacture and market DVDPlus in the United States,
Canada, and Mexico. DVDPlus is a dual sided, hybrid optical disc media that
uniquely combines two distinct content storage formats for distribution on a
single disc, a DVD (digital versatile disc) on one side and a CD (compact disc)
on the other. DVDPlus allows content publishers to integrate their visual and
audio assets into a single distribution. Utilizing the latest in manufacturing
technology, the CD and DVD layers are bonded together to provide a multi-format
hybrid disc, which is compatible to all CD, CD-ROM, DVD ROM formats, and is
readable and capable of playback in conventional CD and DVD players and
personal computers alike.

     DVDPlus allows content publishers to integrate their visual and
audio assets into a single distribution, such as releasing a DVD movie
and its soundtrack together.






                               <page 8>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
SUMMARY OF ACCOUNTING POLICIES - continued

Disc Security Tag

     Disc Security Tag,(DSTag), is an invention which utilizes existing
Electronic Article Surveillance (EAS) tags embedded into a DVD or CD during the
injection mold phase of the manufacturing process.  Products, to which this
process is applied, provide unique item identification for its customers
and clients.  With this product, manufacturers are given the opportunity
to enhance the integrity of their product while providing added value to
their customers (retailers) that are desperate to reduce or stop the
enormous losses attributed to employee and retail theft.  Additionally,
it can give content developers, manufacturers, and distributors the
ability to protect their investment by providing an efficient means to
authenticate legitimate products over counterfeit products produced by
unauthorized manufacturers. On May 23, 2003, the Company filed a patent for
DSTag and on May 21, 2004, the Company filed an international patent for DSTag.

EnXcase

EnXcase combines two distinct features for the DVDPlus (OneDisc)
two-sided (DVD-CD)optical disc media market. The outer styling of the
case has the unique feature of a semi-rounded top. The second feature
is a theft deterrent ring found within the inner structure of the
EnXcase. The Company developed this unique case primarily for use with
the DVDPlus (OneDisc) two-sided disc format. On October 10, 2003, the Company
filed for a United States patent on EnXcase and on September 27, 2004 the
Company filed for an international patent.

EnXdeck Player

     On December 3, 2003, the Company announced the arrival of their
EnXdeck Player which includes the ability to play ClearVideo encoded
content. The EnXdeck is a stand-alone DVD/CD player that incorporates
the latest in audio and video PC based technology. The system has been
developed to utilize EnXnet's proprietary video compression software,
ClearVideo. The EnXdeck not only has the same functionality as the
Phillips CDI (compact disc interactive) units, but has the added value
of a PC with Internet capability, expandable I/O ports, and
multiple video output configurations.

ClearVideo License

     In March 2000, the Company acquired exclusive licensing rights, from
Iterated Systems, Inc., to compile, use, copy and modify ClearVideo
Source Code and to create and manufacture products and services.  As part
of this acquisition Ryan Corley acquired the rights for using the
ClearVideo Source Code for video/audio streaming over the internet of TV
type programming and content.  Additionally, the license agreement
provides that the Company may sublicense any products and services that
it creates using the technology under the licensing agreement.  The
license was acquired for a $250,000 note payable and the issuance of
297,500 shares of common stock, valued at $2,975.

                               <page 9>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
SUMMARY OF ACCOUNTING POLICIES - continued

ClearVideo License - continued

     On January 2, 2002, the company entered into an agreement with Ryan
Corley, the President and majority stockholder of the Company, whereby
the Company acquired his license agreement for video/audio streaming
over the internet of TV type programming and content using the
ClearVideo Source Code.  The Company issued 1,000,000 shares of
restricted common stock valued at $100,000 for the license.  The
licenses are being amortized over 10 years which is the estimated useful
life of the patent covering the technology.

ClearVideo Technology

     ClearVideo utilizes fractal digitization creating the smallest file
possible while virtually duplicating the quality of the original.
ClearVideo can reduce video file sizes by approximately 95-99% and
virtually duplicates the quality of the original files.  ClearVideo
enhances how video with synchronized audio files are transmitted over
both narrow and broadband lines.  ClearVideo works equally well with
NTSC, PAL, or SECAM (the three different TV formats used around the
world) television as well as the Internet.  It can be effectively used
worldwide for the compression and transmission of video files for the
broadcast industry.

NOTES TO FINANCIAL STATEMENTS

1. Summary of Accounting Policies

Cash Equivalents

     For financial reporting purposes, the Company considers all highly
liquid investments with an original maturity of three months or less
when purchased to be a cash equivalent.  Financial instruments, which
potentially subject the Company to a concentration of credit risk,
consist of cash and cash equivalents.  Cash and cash equivalents
consist of funds deposited with various high credit quality financial
institutions.















                               <page 10>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

Equipment

     Equipment is recorded at cost. Depreciation and amortization are
provided using the straight-line method over the useful lives of the
respective assets, typically 3-10 years. Major additions and betterments
are capitalized. Upon retirement or disposal, the cost and related
accumulated depreciation or amortization are removed from the accounts
and any gain or loss is reflected in operations.

     The following table details the Company's equipment:

                                               December 31,  March 31,
                                                    2004       2004
                                                   ------      ------
     Equipment                                   $ 53,137    $ 52,370
     Accumulated depreciation                     (47,224)    (44,395)
                                                  -------     -------
     Equipment, net                              $  5,913    $  7,975
                                                  =======     =======

Depreciation expenses for the nine months ended December 31, 2004 and 2003 were
$2,829 and $5,444 respectively.

Licenses

     The costs associated with acquiring exclusive licensing rights to
patented technology have been capitalized and are being charged to
expense using the straight line method of amortization over ten years,
the estimated remaining useful lives of the patents.

    In accordance with the provisions of Statement of Financial
Accounting Standards("SFAS") No. 142, "Goodwill and Other Intangible Assets",
management of the Company reviews the carrying value of its intangible
assets on a regular basis.  Estimated undiscounted future cash flows
from the intangible assets are compared with the current carrying
value.  Reductions to the carrying value are recorded to the extent the
net book value of the property exceeds the estimate of future
discounted cash flows.

Marketable Securities

	The Company accounts for its marketable securities under Statement of
Financial Accounting Standards No. 115, Accounting for Certain Investments
in Debt And Equity Securities.  The Company's securities are considered
available-for-sale and are valued at fair value for financial statement
purposes.  Fair value is based on quoted market prices.  The unrealized holding
gain or loss represents the net change in the fair value of those securities
and is shown in other comprehensive income.




                               <page 11>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

Revenue Recognition

	 Revenue is considered earned upon the delivery of products and the
collectability of the sales is reasonably assured.

Income Taxes

     Income taxes are provided based on the liability method of
accounting pursuant to SFAS No. 109, "Accounting for Income Taxes."
Under this approach, deferred income taxes are recorded to reflect the
tax consequences on future years of differences between the tax basis
of assets and liabilities and their financial reporting amounts at each
year end.  A valuation allowance is recorded against deferred tax
assets as management does not believe the Company has met the "more
likely than not" standard imposed by SFAS No. 109 to allow recognition
of such an asset.

Estimates

     The preparation of financial statements in conformity with
accounting principles generally accepted in the United States of America
requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities at the dates of the financial statements and the
reported amounts of revenues and expenses during the reporting periods.
Actual results could differ from those estimates.

Fair Value of Financial Instruments

     The carrying amounts reported in the balance sheets as of December 31,
2004 and March 31, 2004 for cash equivalents and accounts payable and accrued
expenses approximate fair value because of the immediate or short-term
maturity of these financial instruments.

Compensated Absences

     Employees of the Company do not earn annual leave or sick leave.
Therefore, there is no compensated absences accrued liability on December 31,
2004 and March 31, 2004.

Research and Development Costs

     Research and development costs are charged to expense as incurred.









                               <page 12>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

Stock-Based Compensation

     The Company measures compensation cost for its stock-based compensation
plans under the provisions of Accounting Principles Board Opinion No. 25 ("APB
25"), "Accounting for Stock Issued to Employees".  The difference, if any,
between the fair value of the stock on the date of grant over the exercise
price for the stock is accrued over the related vesting period.  SFAS No. 123,
"Accounting for Stock-Based Compensation", ("SFAS 123") requires companies that
continue to use APB 25 to account for its stock-based compensation plan to make
proforma disclosures of net income (loss) and earnings (loss) per share as if
SFAS 123 had been applied.  Statement of Financial Accounting Standards No. 148
"Accounting for Stock-Based Compensation-Transition and Disclosure-an amendment
of FASB Statement No. 123" provides alternative methods of transition for a
voluntary change to the fair value based method of accounting for stock-based
employee compensation.  In addition, this statement amends the disclosure
requirements of Statement 123 to require prominent disclosures in both annual
and interim financial statements about the method of accounting for stock-based
employee compensation and the effect of the method used on reported results.

    The options granted in the nine months ended December 31, 2004 have
exercise prices which approximate fair value and accordingly, no compensation
cost has been recognized for the compensatory stock options in the financial
statements. Had compensation cost for the Company's stock options been
determined consistent with FASB statement No. 123, "Accounting for Stock Based
Compensation", the Company's net income (loss) and net income (loss) per share
would have been decreased (increased) to the pro forma amounts indicated below:

                                          December 31,       December 31,
                                              2004                2003
                                          ------------        ------------
   Net loss                As reported     $(447,566)          $(387,051)
                           Proforma        $(477,976)          $(488,916)

   Basic loss per share    As reported        $(.018)            $(0.016)
                           Proforma           $(.019)            $(0.021)

   Diluted loss per share  As reported        $(.018)            $(0.016)
                           Proforma           $(.019)            $(0.021)

     The fair value of each option grant is estimated on the date of grant
using the Black-Scholes option-pricing model.

     The following assumptions were for grants in the nine months ended
December 31, 2004; dividend yield of 0%, expected volatility of 40%, risk free
interest rates of 1.0%, and an expected life of approximately 4.32 years.







                               <page 13>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

Net Loss Per Share

     SFAS No. 128 requires dual presentation of basic EPS and diluted
EPS on the face of all income statements for all entities with complex
capital structures.   Basic EPS is computed as net income divided by
the weighted average number of common shares outstanding for the
period.  Diluted EPS reflects the potential dilution that could occur
from common shares issuable through stock options, warrants and other
convertible securities.

2. Development Stage Operations and Going Concern

     The Company has been in the development stage since its inception.
The Company has no recurring source of revenue and has incurred losses
since inception.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.  The financial
statements do not include any adjustments that may be necessary if the
Company is unable to continue as a going concern.

     Management of the Company has undertaken certain actions to
address these conditions. To this end, management is currently in
negotiations with additional potential customers  and with marketing
representatives to establish product channels.  Funds required to
carry out management's plans are expected to be derived from future
stock sales, proceeds of marketable securities or borrowings from
outside parties.  There can be no assurances that the Company will be
successful in executing its plans.

3. Marketable Securities and Equity Interest

     The Company owns 81,924 and 111,924 shares of Fonar Corporation as of
December 31, 2004 and March 31, 2004. Fonar is traded on the NASDAQ National
Market system under the symbol FONR.  As discussed in Note 1, the Company
accounts for its marketable securities under Statement of Financial Accounting
Standards No. 115, Accounting for Investments in Debt and Equity Securities.
The Company's marketable consist of the following:

                               December 31, 2004
          -------------------------------------------------------------
                                                         Unrealized
                               Basis       Fair Value    Gain (Loss)
          Equity Securities  $120,390       $128,621      $  8,231
                             ========       ========      =========

                                March 31, 2004
          -------------------------------------------------------------
                                                         Unrealized
                               Basis       Fair Value    Gain (Loss)
          Equity Securities  $164,490       $148,859      $(15,631)
                             ========       ========      =========


                               <page 14>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

3. Marketable Securities and Equity Interest - continued

These securities are considered available-for-sale, as defined by SFAS No. 115
and, accordingly, the unrealized holding gain is shown in other comprehensive
income, as follows:                                  December 31,    March 31,
                                                        2004           2004
                                                      --------       --------
   Unrealized holding gain(loss) recognized
      as of  				                  $ 23,862        $50,366
   Holding gain (loss) recognized
	in prior years endings                           (15,631)       (65,997)
								      --------	    -------

Unrealized holding gain (loss) on investment
      Available for sale                              $  8,231       $(15,631)
								       =======        =======

On July 14, 2004 the Company announced that it has acquired a ten percent
(10.0%) equity interest in Castaway Record Company, LLC. and a ten percent
(10.0%) equity interest in OneDisc Distribution Co., LLC. The Company acquired
the equity interest for cash paid of $50,000 for each interest. The CEO of our
Company owns a 40% equity interest in Castaway Record Company, LLC. and a 40%
equity interest in OneDisc Distribution Co., LLC. Subsequently, Castaway and
OneDisc have sold additional shares in their companies which has diluted our
interest in each company. We now have an eight percent (8.0%)equity interest in
each company.

4.   Licenses

     In March 2000, the Company acquired exclusive licensing rights, from
Iterated Systems, Inc., to compile, use, copy and modify ClearVideo Source
Code and to create and manufacture products and services.  As part of this
acquisition Ryan Corley acquired the rights for using the ClearVideo Source
Code for video/audio streaming over the internet of TV type programming and
content. Additionally, the license agreement provides that the Company may
sublicense any products and services that it creates using the technology under
the licensing agreement.  The license was acquired for a $250,000 note payable
and the issuance of 297,500 shares of common stock, valued at $2,975. In
addition during 2004, the Company issued 74,000 shares valued at $14,800 under
an anti-dilution clause in the license agreement.

     On January 2, 2002, the Company entered into an agreement with Ryan
Corley, the President and majority stockholder of the Company, whereby the
Company acquired his license agreement for video/audio streaming over the
internet of TV type programming and content using the ClearVideo Source
Code. The Company issued 1,000,000 shares of restricted common stock
valued at $100,000 for the license.

     The licenses are being amortized over 10 years which is the estimated
useful life of the patent covering the technology. Amortization expense for the
nine months ended December 31, 2004 and 2003 was $29,130 and $27,973.
Accumulated amortization at December 31 and March 31, 2004 was $159,012 and
$129,883.                       <page 15>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

5.   Income Taxes

     At December 31, 2004 and March 31, 2004, the Company had net deferred tax
assets of approximately $760,000 and $600,000 principally arising from net
operating loss carryforwards for income tax purposes.  As management of the
Company cannot determine that it is more likely than not that the Company will
realize the benefit of the net deferred tax asset, a valuation allowance equal
to the net deferred tax asset has been established at December 31, 2004 and
March 31, 2004. At December 31, 2004 the Company has net operating loss
carryforwards totaling approximately $2,237,000 which will begin to expire in
the year 2015.

6. Notes Payable

    Notes payable-related party consist of the following:

                                                    December 31,   March 31,
                                                         2004         2004
                                                       -------      --------
     8% convertible note payable to Ryan Corley,
      President of the Company, due November 15,
      2003, Convertible into a maximum of
      1,100,000 common shares                        $ 110,000     $ 110,000

     6% convertible notes payable to Ryan Corley,
      President of the Company, due on demand,
      convertible into a maximum of
      1,996,860 common shares                          463,215       417,215
                                                      --------      --------
     Total notes payable-related party 	           $ 573,215     $ 527,215
                                                      ========      ========
   Notes payable consist of the following:

       6% convertible notes payable to a
        stockholder, due on demand, convertible
        into a maximum of 369,025 common shares      $  60,554      $ 60,554

       4% convertible notes payable to a
        stockholder, due on demand, convertible
        into a maximum of 350,000 common shares        175,000          -

       Non-interest bearing note payable to a           20,340          -
        stockholder, payments begin May 2005 in the
        amount of $5,000 per month, option to
        purchase 150,000 common shares at $.20
        per share.
                                                      --------      --------
     Total notes payable                             $ 255,894      $ 60,554
                                                      ========      ========



                                 <page 16>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS


7.  Advances from Officer and Shareholder

	During the nine months ended December 31, 2004 a shareholder made
additional unsecured advances totaling $173,800. At March 31, 2004, advances
from shareholder was $226,540. On August 26, 2004 the Company converted
$175,000 of the advances to a convertible note.  The advances do not accrue
interest; however the note has been discounted using an imputed interest rate
of 6%.  The balance at December 31, 2004 and March 31, 2004 is $207,503 and
$201,987 with a discount of $17,837 and $24,553, respectively.

      During the nine months ended December 31, 2004, the CEO made additional
and unsecured advances (net) totaling $30,323.  At March 31, 2004, advances
from the CEO was $29,647. On September 24, 2004 the Company converted $46,000
of the advances to a convertible note.   The advances do not accrue interest;
however the note has been discounted using an imputed interest rate of 6%.  The
balance at December 31, 2004 and March 31, 2004 is $12,265 and $27,550 with a
discount of $1,705 and $2,097, respectively.

8. Common Stock Transactions

The Company issued 331,264 shares of restricted common stock in exchange for
services in the nine months ended December 31, 2004.

9. Anti-Dilution Clause

     The agreement with Iterated Systems, Inc. ("Iterated"), contains an
anti-dilution clause whereby the percentage of ownership of the
Company's common stock by Iterated shall be no less than 1.25% of the
total outstanding shares of the Company's common stock at any given
time.  In May 2003 the company issued an additional 74,000 shares of
restricted Rule 144 common stock to Iterated in compliance with the
agreement. This provision terminates if Iterated sells or disposes of the
shares that it received under this agreement. Iterated has sold all of its
shares it received under the agreement and the Company is no longer subject
to the anti-dilution clause.

10. Stock Options

     On July 24, 2001, the Company filed with the SEC Form S-8, for its
2002 Stock Option Plan, (the Plan). An aggregate amount of common stock
that may be awarded and purchased under the Plan is 3,000,000 shares of
the Company's common stock. Under the Plan during the nine months ended
December 31, 2004 and the year ended March 31, 2004, the Company granted
200,000 and 570,000 stock options to employees, consultants and members of the
Board of Directors.






                                <page 17>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS


10. Stock Options - continued

     During the nine months ended December 31, 2004 and 2003, Company granted
200,000 and 655,000 to employees and consultants to purchase common stock with
exercise prices of $.50 to $.60 per share which was equal to or higher than the
market price at the date of the grant. Compensation was required to be recorded
for options granted to the consultants using the Black-Scholes option-pricing
model for the nine months ended December 31, 2004 and 2003 were $39,793 and
27,430 respectively.

     SFAS No. 123 requires the Company to provide pro-forma information
regarding net income (loss) applicable to common stockholders and
income (loss) per share as if compensation cost for the Company's
options granted to employees had been determined in accordance with the
fair value based method prescribed in that statement.

     The Company estimated the fair value of each stock option for
employees at the grant date by using the Black-Scholes option-pricing
model with the following weighted average assumptions used for grants
as follows:
                                       December 31, December 31,
                                           2004           2003
                                         ========      =========
         Dividends yield                     0%             0%
         Expected volatility                40%            82%
         Risk-free interest rate           1.0%           4.4%
         Expected life                  4.60 years     6.00 years

     For purposes of pro forma disclosures, the estimated fair value
of the options is amortized to expense over the options' vesting period.

Pro forma net loss and net loss per share information is presented below:

                                       December 31, December 31,
                                           2004           2003
                                         ========      =========
Pro forma net loss to stockholders      $(477,976)   $ (488,916)
Pro forma basic and diluted
     net loss per share                    (0.019)       (0.021)

     Stock options to non-employees have been accounted for at
the fair value of the options at the grant date as determined using
the Black-Scholes option-pricing model.








                                 <page 18>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

10. Stock Options - continued


     Option valuation models incorporate highly subjective assumptions.
Because changes in the subjective assumptions can materially affect the
fair value estimate, the existing models do not necessarily provide a
reliable single measure of the fair value of the Company's employee
stock options. Because the determination of fair value of all employee
stock options granted after such time as the Company becomes a public
entity will include an expected volatility factor and because, for pro
forma disclosure purposes, the estimated fair value of the Company's
employee stock options is treated as if amortized to expense over the
options' vesting period, the effects of applying SFAS No 123 for pro
forma disclosures are not necessarily indicative of future amounts.

A summary of the status of the Company's stock options is presented below:

                                           December 31,    March 31,
                                               2004          2004
                                            =========     =========
Options outstanding at beginning of period  4,090,000     3,350,000
Options granted                               350,000     1,100,000
Options exercised                             (14,200)     (160,000)
Options canceled                                 -         (200,000)
                                            ---------     ---------
Options outstanding at end of period        4,425,800     4,090,000
                                            =========     =========

     The following table summarizes the information about the stock options
as of December 31, 2004:

                    Weighted                            Weighted
                     Average    Weighted                 Average
          Number    Remaining    Average      Number    Exercise
Range of Outstand- Contractual  Exercise    Exercisable   Price
Exercise  ing at      Life       Price          at     (exercisable
 Price    Dec 31     Years   (Total shares)   Dec 31     shares)
-------- ---------  ---------- ------------  ----------  ---------
  $.40     400,000      .50       $.40         400,000      $.40
   .50   1,095,800     4.81        .50         945,800       .50
   .50     795,000     5.91        .50         530,000       .50
 .17-.90   785,000     1.96        .33         765,000       .32
 .40-.66 1,000,000     3.35        .52         774,000       .50
   .43     200,000     6.50        .43         150,000       .43
   .20     150,000     1.83        .20         150,000       .20
-------- ---------  ---------- ------------  ----------  ---------
$.17-.90 4,425,800     4.07        .45       3,714,800      $.44
======== =========  ========== ============  ==========  =========




                                <page 19>
EnXnet, Inc.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

10. Stock Options - continued


     The following table summarizes the information about the stock options
as of March 31, 2004:

                    Weighted                            Weighted
                     Average    Weighted                 Average
          Number    Remaining    Average      Number    Exercise
Range of Outstand- Contractual  Exercise    Exercisable   Price
Exercise  ing at      Life       Price          at     (exercisable
 Price   March 31    Years   (Total shares)  March 31    shares)
-------- ---------  ---------- ------------  ----------  ---------
  $.40     400,000     1.25       $.40         400,000      $.40
 .10-.50 1,110,000     5.50        .50         640,000       .50
   .50     795,000     6.66        .50         530,000       .50
 .17-.90   785,000     2.72        .33         765,000       .32
 .40-.60 1,000,000     4.05        .52         630,000       .48
-------- ---------  ---------- ------------  ----------  ---------
$.10-.90 4,090,000     4.42        .46       2,965,000      $.44
======== =========  ========== ============  ==========  =========































                                <page 20>
Item 2. Managements Discussion and Analysis or Plan of Operation

The following plan of operation, discussion of the results of
operations and financial conditions should be read in conjunction with
the financial statements and related notes appearing in this report.

    EnXnet, Inc. is a development stage enterprise formed under the laws of
the State of Oklahoma on March 30, 1999 as Southern Wireless, Inc. It is a
business and technology development enterprise engaged in the development,
marketing, and licensing of emerging technologies and innovative business
strategies and practices, focusing primarily on products, solutions, and
services which support and enhance multimedia management.

     The Company currently can satisfy its current cash requirements for
approximately 90-120 days and has a plan in place to raise additional working
capital by the sale of the marketable securities and shares of the Company
common stock to select perspective individuals. This plan should provide the
additional necessary funds required to enable the Company to continue marketing
its products and enhancing the source code for ClearVideo until the Company can
generate enough cash flow from operations to sustain its operations.

     The Company does not anticipate any significant cash requirements
for the purchase of any facilities.

     The Company currently has six full-time employees on the payroll. It is
anticipated that the Company will need to hire an additional three to six full-
time employees in order to expand its products and services.

Results of Operations - Period from Inception (March 30, 1999) through
December 31, 2004.

     The Company is considered to be in the development stage as defined in
Statement of Financial Accounting Standards No. 7.  There have been no
significant revenues since incorporation.  For the nine months ended December
31, 2004 and 2003, the Company incurred net losses of $447,566 and $387,051, or
$(0.018) and $(0.016) per share, which is primarily the result of payment of
payroll expenses, consulting and professional fees, travel and office expenses.

Liquidity and Capital Resources.

      From inception through December 31, 2004, the Company has issued
24,922,264 shares of its Common Stock to officers, directors and others.  The
Company has no operating history and no material assets other than the license
agreement for ClearVideo and DVDPlus, and the pending patents for Disc Security
Tag, EnXcase, several Electronic Article Surveillance tags and several Radio
Frequency Identification Devices (RFID). The Company has $25,983 in cash as of
December 31, 2004.

     The Company has been in the development stage since its inception. The
Company has had no recurring source of revenue and has incurred operating
losses since inception. These factors raise substantial doubt about the
Company's ability to continue as a going concern.  As a result of these
factors, the Company's independent certified public accountants have included
an explanatory paragraph in their reports on the Company's March 31, 2004 and
2003 financial statements which expressed substantial doubt about the Company's
ability to continue as a going concern.
                                <page 21>
     At the present time, the Company has no material commitments for
capital expenditures.  If capital expenditures are required after
operations commence, the Company will pay for the same through the sale
of common stock; or through loans from third parties.  There is no
assurance, however, that such financing will be available and in the
event such financing is not available, the Company may have to cease
operations.

STATEMENT REGARDING FORWARD-LOOKING STATEMENTS.

     This Quarterly Report includes "forward-looking statements" within the
meaning of Section 27A of the Exchange Act which represent the expectations or
beliefs concerning future events that involve risks and uncertainties,
including but not limited to the demand for Company products and services and
the costs associated with such goods and services. All other statements other
than statements of historical fact included in this Quarterly Report including,
without limitation, the statements under "Managements Discussion and Analysis
or Plan of Operations" and elsewhere in the Quarterly Report, are forward-
looking statements.  While the Company believes that the expectations reflected
in such forward-looking statements are reasonable, it can give no assurance
that such expectations will prove to have been correct.

CURRENT TRADING MARKET FOR THE COMPANY'S SECURITIES.

     Currently the Company's stock is traded under the symbol "EXNT" on the
NASD OTC Bulletin Board and, if and when qualified, it intends to apply for
admission to quotation on the NASDAQ Small Cap Market. There can be no
assurance that an active or regular trading market for the common stock will
develop or that, if developed, will be sustained. Various factors, such as
operating results, changes in laws, rules or regulations, general market
fluctuations, changes in financial estimates by securities analysts and other
factors may have a significant impact on the market of the Company securities.
The market price for the securities of public companies often experience wide
fluctuations that are not necessarily related to the operating performance of
such public companies such as high interest rates or impact of overseas
markets.

ITEM 3. CONTROLS AND PROCEDURES

Within the 90 days prior to the filing date of this report, an evaluation was
carried out (the "Controls Evaluation"), under the supervision and with the
participation of Company's management, including its Chief Executive Officer
("CEO") and the Chief Financial Officer ("CFO"), of the effectiveness of the
Company's "disclosure controls and procedures" (as defined in Section 13a-14 (
c) and 15d-14 ( c) of the Securities Exchange Act of 1934 ("Disclosure
Controls")). Based upon that evaluation, the CEO and CFO has concluded that the
Disclosure Controls are effective to ensure that the information required to be
disclosed by the Company in reports it files or submits under the Securities
Exchange Act of 1934 is recorded, processed, summarized and reported as
required by the rules and forms of the Securities Exchange Commission.

The CEO and CFO note that, since the date of the Controls Evaluation to the
date of this report, there have been no significant changes in the Company's
internal controls or in other factors that could significantly affect the
internal controls, including any corrective actions with regard to significant
deficiencies and material weaknesses.
                                <page 22>
PART II OTHER INFORMATION

Item 1. Legal Proceedings
     We are not a party to any material legal proceedings.

Item 2. Changes in Securities
     Not applicable

Item 3. Defaults upon Senior Securities
     Not applicable

Item 4. Submission of matters to a vote to security holders
     Not applicable

Item 5. Other Information
     Not applicable

Item 6. Exhibits and Reports on Form 8-K
(a)	Exhibits

         Exhibit 31.1     Certification of Chief Executive Officer Pursuant to
                          Section 302 of The Sarbanes-Oxley Act Of 2002

         Exhibit 31.2     Certification of Chief Financial Officer Pursuant to
                          Section 302 of The Sarbanes-Oxley Act Of 2002

         Exhibit 32.1     Certification Pursuant to 18 U.S.C. Section 1350,
                          as Adopted Pursuant to Section 906 of The
                          Sarbanes-Oxley Act Of 2002


     (b) Reports on Form 8-K

         (1)  On November 15, 2004 the Company announced that it entered into a
contract with Corporate Disk Company, Inc., whereby Corporate Disk will
manufacture DVDPlus optical media discs for EnXnet Coming by fax to you.

          (2) On January 18, 2005 the Company announced that it had been
informed by DVDPlus international that it will showcase the Company's EnXcase
at MIDEN 2005 at Cannes, France, January 23-27, 2005.
















                                <page 23>

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

EnXnet, Inc.
(Registrant)

Dated: February 10, 2005
/s/ Ryan Corley
    Ryan Corley - President









































                                <page 24>