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, 2005



[ ] 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 Street, Suite 75
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 24, 2006, there were 27,792,893 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, 2005 and March 31, 2005                                3

Statements of Loss
For the nine months ended December 31, 2005 and 2004                4

Statements of Changes in Stockholders Equity (deficit)              5

Statements of Cash Flows
For the nine months ended December 31, 2005 and 2004               6-7

Summary of Accounting Policies                                     8-10

Notes to Financial Statements                                     11-21

Item 2. Managements Discussion and Analysis or Plan of Operation  22-24

Item 3. Controls and Procedures                                     24

PART II. OTHER INFORMATION

Item 1. Legal Proceedings                                           24

Item 2. Changes in Securities                                       24

Item 3. Defaults Upon Senior Securities                             24

Item 4. Submission of Matters to a Vote to Security Holders         24

Item 5. Other Information                                           25

Item 6. Exhibits and Reports on Form 8-K                            25

SIGNATURES                                                          26

Exhibit 31.1     Certification of financial statements
                   Chief Executive Officer &
                   Chief Financial Officer                          27

Exhibit 31.2     Certification of financial statements
                   Chief Financial Officer                          28

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.
BALANCE SHEETS

                                                      December 31,  March 31,
                                                          2005        2005
ASSETS                                                (Unaudited)  (Audited)
Current assets:
Cash                                                  $    9,393   $  6,345
Accounts receivable (net of allowance for doubtful
 accounts of $96,556 and $100,022, respectively)            -        18,219
Prepaid expense                                            1,991      8,560
                                                       _________   ________
Total current assets                                      11,384     33,124
                                                       _________   ________

Equipment, net                                             3,986      4,970
                                                       _________   ________
Other assets:
Deposits and deferred charges                              1,137      1,137
Licenses, net                                            169,692    199,053
Marketable securities                                       -        70,617
Investment                                                25,000    100,000
                                                       _________    _______
Total other assets                                       195,829    370,807
                                                       _________    _______
Total assets                                          $ $211,199   $408,901
                                                       =========    =======

LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)
Current liabilities:
Accounts payable and accrued expenses                 $  112,606  $ 153,287
Advances from officer-related party                        5,413      3,270
Advances from stockholder                                 31,000    234,840
Notes payable                                            269,696    257,194
Notes payable-related party                              638,603    573,215
                                                       _________   ________
Total current liabilities                              1,057,318  1,221,806
                                                       _________   ________
Stockholders' equity (deficit)
Common stock, $.00005 par value;
200,000,000 shares authorized;
27,792,893 and 25,058,043 issued and
outstanding December 31, 2005 and March 31, 2005           1,390      1,253
Additional paid-in capital                             2,248,214  1,714,689
Retained deficit                                      (2,905,723)(2,523,174)
Deferred consideration                                (  115,000)      -
Other comprehensive income (loss)                        (75,000)    (5,673)
                                                       _________   ________
Total stockholders equity (deficit)                     (846,119)  (812,905)
                                                       _________   ________
Total liabilities and stockholders' equity (deficit)  $  211,199  $ 408,901
                                                       =========   ========



See accompanying summary of accounting policies and
notes to financial statements.  <page 3>
EnXnet, Inc.
STATEMENTS OF LOSS (Unaudited)


                                Three Months Ended      Nine months Ended
                                   December 31,            December 31,
                                 2005        2004        2005        2004

Revenues                      $    -      $ 159,125   $   1,790   $ 381,173
Cost of revenues                   -         98,485         750     247,196
                                _______     _______     _______     _______

Gross profit                       -         60,640       1,040     133,977
                                _______     _______     _______     _______
Operating expenses:
Consulting fees                  46,745      14,040      77,127     192,320
Depreciation & amortization      10,115      10,653      30,345      31,958
Bad debts                          -           -           -           -
Royalties                          -          9,450         570       9,450
Advertising                        -          3,500        -          6,833
Payroll                          26,795      52,645     103,633     158,986
Professional services            16,511      24,701      71,059      77,003
Occupancy expense                 6,081       9,249      19,970      29,968
Office expense                    3,718       7,489      11,520      22,876
Travel expense                      712       4,818       4,069      16,714
Other expense                       250       2,512         560       3,950
                                _______     _______     _______     _______
Total operating expenses        110,927     139,057     318,853     550,058
                                _______     _______     _______     _______
Operating loss                 (110,927)   ( 78,417)   (317,813)   (416,081)

Other income (expense):
Gain (loss) on sale of
 marketable securities         ( 13,370)   (    230)   ( 22,989)   (    230)
Bad debt recovery                  -           -          3,466        -
Interest income                       3           6           7          71
Interest expense               ( 15,394)   ( 12,360)   ( 45,220)   ( 31,326)
                                _______     _______     _______     _______
Net loss                       (139,688)   ( 91,001)   (382,549)   (447,566)

Other comprehensive
  income(loss):
Net unrealized gain(loss)on:
 marketable securities             -         45,127        -         23,862
 investments                   ( 25,000)       -       ( 69,327)       -
                                _______     _______     _______     _______
Comprehensive loss             (164,688)   ( 45,874)   (451,876)   (423,704)
                                =======     =======     =======     =======
Net loss per share
  basic and diluted           $(   .005)  $(   .004)  $(   .015)  $(   .018)
                                =======     =======     =======     =======
Weighted average number
  of shares
  basic and diluted          27,035,719  24,845,688  26,404,944  24,633,681
                             ==========  ==========  ==========  ==========
See accompanying summary of accounting policies and
notes to condensed financial statements.  <page 4>


EnXnet, Inc.
STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (DEFICIT)(Unaudited)

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



                             Common Stock     Additional                               Other
                         __________________    Paid-in      Retained   Deferred    Comprehensive
                           Shares    Amount    Capital       Deficit  Consideration    Income         Total
                         __________  ______  __________  ____________ __________   _____________ __________
Balance: March 31, 2005  25,058,043  $1,253  $1,714,689  $(2,523,174) $    -       $   ( 5,673)  $(812,905)
Common stock
  issued for:
   Services               1,534,850      77     212,245         -          -              -        212,322
   Payment of debt        1,000,000      50     271,290         -          -              -        271,340
   Cash                     200,000      10      49,990         -          -              -         50,000
Deferred consideration         -          -        -            -      (115,000)          -       (115,000)
Net loss                       -          -        -      (  382,549)      -              -       (382,549)
Other comprehensive income     -          -        -            -          -           (69,327)   ( 69,327)
                         __________  ______  __________  ___________  __________   _____________ __________
Balance:
  December 31, 2005      27,792,893  $1,390  $2,248,214  $(2,905,723) $(115,000)   $   (75,000)  $(846,119)
                         ==========  ======  ==========  ===========  ==========   ============= ==========
</TABLE>














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


EnXnet, Inc.
STATEMENTS OF CASH FLOWS (Unaudited)



                                                  Nine months Ended
                                                    December 31
                                                   2005      2004
Cash flows from operating activities:
Net loss                                       $(382,549) $(447,566)
Adjustments to reconcile net loss to cash
 flows from operating activities:
Depreciation and amortization                     34,083     31,959
(Gain) Loss on sale of marketable securities      22,989        230
Stock issued for services                        207,096     83,118
Options issued for services                        5,226     39,793
Options issued with notes                           -         1,011
Deferred consideration                          (115,000)      -
Changes in operating assets and liabilities:
Accounts and other receivable                     18,219   (162,639)
Prepaid expense                                    6,569     89,670
Accounts payable and accrued expenses             33,471    121,198
                                                 _______    _______
Net cash flows from operating activities        (169,896)  (243,226)
                                                 _______    _______
Investing activities:
Purchase of fixed assets                            -      (    767)
Purchase of equity interest investments             -      (100,000)
Proceeds from sale of
 marketable securities                            53,301     43,870
Other assets                                        -         1,213
                                                 _______    _______
Net cash flows from
 investing activities                             53,301   ( 55,684)
                                                 _______    _______
Financing activities:
Proceeds from note payable-related party            -       251,000
Proceeds from advances from officer
 and stockholder                                  76,243    187,922
Proceeds from sale of common stock                50,000    101,765
Repayment of advances                            ( 6,600)  (221,000)
                                                 _______    _______
Net cash flows from financing activities         119,643    319,687
                                                 _______    _______
Net increase in cash                               3,048     20,777

Cash, beginning of period                          6,345      5,206
                                                 _______    _______
Cash, end of period                             $  9,393   $ 25,983
                                                 =======    =======





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





Supplemental disclosures of cash flow information:



                                                 Nine months Ended
                                                    December 31
                                                  2005       2004
Cash paid during the period for:
Interest                                         $    -     $   -
Income taxes                                     $    -     $   -

Non-cash financing activities:
Issuance of common stock for service             $ 207,096  $ 83,118
Issuance of stock options for services           $   5,226  $ 39,793
Issuance of stock for advances from shareholder  $ 271,340  $   -
Conversion of accrued interest to note payable   $  74,152  $   -
































See accompanying summary of accounting policies and
notes to financial statements.  <page 7>
EnXnet, Inc.
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, 2005, are not necessarily indicative of the results that
may be expected for the year ended March 31, 2006. 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, 2005 included in the Company Form 10-KSB.

THE BUSINESS

     EnXnet, Inc. (the "Company") was 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

ThinDisc

     The ThinDisc has many applications, a primary and high-volume use is
stored value cards combining magnetic stripe and bar code data with optical
media, in Compact Disc (CD), Digital Video Disc (DVD) format, or any other
optical disc readable products. Including the optical disc readability allows
issuers to promote their products with both audio and video messages while
providing their customers with added value and convenience when using a stored
value card. Stored value cards include, but are not limited to, debit, event
tickets, gift, health services, incentive, loyalty, merchandise, payroll,
prepaid phone, promotion, room key, or other monetary transaction cards.
Stored value cards are one of the most dynamic and fastest growing products in
the financial industry. Anyone who makes purchases with a merchant gift card,
places phone calls with a prepaid telephone card, or buys goods or services
with a prepaid debit card is using a stored value card.









                                <page 8>
EnXnet, Inc.
SUMMARY OF ACCOUNTING POLICIES

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.

Disc Security Tag

     Disc Security Tag,(DSTag), is an invention which utilizes proprietary
Electronic Article Surveillance (EAS) tags embedded or adhered to 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.









                                <page 9>
EnXnet, Inc.
SUMMARY OF ACCOUNTING POLICIES

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.

     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.







                                <page 10>
EnXnet, Inc.
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.

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:

                                                   Dec 31,    March 31,
                                                    2005        2005
                                                   ------      ------
     Equipment                                   $ 53,137    $ 53,137
     Accumulated depreciation                     (49,151)    (48,167)
                                                  -------     -------
     Equipment, net                              $  3,986    $  4,970
                                                  =======     =======

Depreciation expenses for the nine months ended December 31, 2005 and 2004
were $984 and $1,886, respectively.

Advertising

     Advertising costs are expensed as incurred. Advertising expenses for
the nine months ended December 31, 2005 and 2004 were $ 0 and $6,833,
respectively.













                                <page 11>
EnXnet, Inc.
NOTES TO FINANCIAL STATEMENTS

Summary of accounting policies - Continued

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 Company uses
the average cost method for determining the cost basis on realized gains and
losses of investments. The unrealized holding gain or loss represents the
net change in the fair value of those securities and is shown in other
comprehensive income.

Revenue Recognition

      Revenue is generally recognized and earned when all of the following
criteria are satisfied: a) persuasive evidence of sales arrangements exists;
b) delivery has occurred; c) the sales price is fixed or determinable, and
d) collectibility is reasonably assured.

      Persuasive evidence of an arrangement is demonstrated via a purchase
order from our customers. Delivery occurs when title and all risks of ownership
are transferred to the purchaser which generally occurs when the products are
shipped to the customer. No right of return exists on sales of products except
for defective or damaged products. The sales price to the customer is fixed
upon acceptance of purchase order. To assure that collectibility is reasonably
assured we perform ongoing credit evaluations of all of our customers.

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. <page 12>
EnXnet, Inc.
NOTES TO FINANCIAL STATEMENTS

Summary of accounting policies - Continued

Accounts Receivable

     Accounts receivable are uncollateralized customer obligations due under
normal trade terms requiring payment within thirty days from the invoice
date or as specified by the invoice and are stated at the amount billed to
the customer.  Customer account balances with invoices dated over ninety
days or ninety days past the due date are considered delinquent.

      The carrying amount of accounts receivable is reduced by a valuation
allowance that reflects management's best estimate of the amount that will
not be collected. Management individually reviews all accounts receivable
balances that are considered delinquent and based on an assessment of
current credit worthiness, estimates the portion, if any, of the balance
that will not be collected.  In addition, management periodically evaluates
the adequacy of the allowance based on the Company's past experience.

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,
2005 and March 31, 2005 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. There
is no compensated absences accrued liability on December 31, 2005 and March
31, 2005.

Research and Development Costs

     Research and development costs are charged to expense as incurred.









                                <page 13>
EnXnet, Inc.
NOTES TO FINANCIAL STATEMENTS

Summary of accounting policies - Continued

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")
require companies that continue to use APB 25 to account for its stock-based
compensation plan to make pro forma 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 2005 and 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,
                                              2005        2004
                                            --------    --------
   Net loss                As reported     $(382,549)  $(447,566)
                           Pro forma       $(383,105)  $(477,976)

   Basic loss per share    As reported        $(.015)     $(.018)
                           Pro forma          $(.015)     $(.019)

   Diluted loss per share  As reported        $(.015)     $(.018)
                           Pro forma          $(.015)     $(.019)

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 2005; dividend yield of 0%,
expected volatility of 40%, risk free interest rates of 1.0%, and an
expected life of approximately 7.20 years. The following assumptions were
for grants in 2004; dividend yield of 0%, expected volatility of 40%, risk
free interest rates of 1.0%, and an expected life of 4.83 years.


                                <page 14>
EnXnet, Inc.
NOTES TO FINANCIAL STATEMENTS

Stock Based Compensation - continued

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. Going Concern

     The Company has a working capital deficit 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.  Management is currently in negotiations with potential customers
and with marketing representatives to establish a more developed product
channel.  Funds required to carry out management's plans are expected to be
derived from future stock sales and borrowings from outside parties.
There can be no assurances that the Company will be successful in executing
its plans.

3. Development Stage

     In the year ending March 31, 2004, the Company was considered a
development stage company as defined in SFAS No. 7. Substantial revenues
were produced in the year ending March 31, 2005 in regard to the overall
operations of the organization, thus the Company is no longer considered to
be in the development stage.

4. Marketable Securities and Investment

     The Company owns 0 and 51,924 shares of Fonar Corporation as of
December 31, 2005 and March 31, 2005. 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 securities and investments consist of the following:

                             December 31, 2005
          -------------------------------------------------------------
                                                             Unrealized
                                   Basis       Fair Value    Gain (Loss)
          Marketable Securities  $   -          $   -         $   -
          Investments             100,000         25,000       (75,000)
                                 --------       --------      ---------
                                 $100,000       $ 25,000      $(75,000)
                                 ========       ========      =========
                                <page 15>
EnXnet, Inc.
NOTES TO FINANCIAL STATEMENTS

4. Marketable Securities and Investment - continued

                               March 31, 2005
          -------------------------------------------------------------
                                                             Unrealized
                                   Basis       Fair Value    Gain (Loss)
          Marketable Securities  $ 76,290       $ 70,617      $( 5,673)
          Investments             100,000        100,000          -
                                 --------       --------      ---------
                                 $176,290       $170,617      $( 5,673)
                                 ========       ========      =========

     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:
                                                      Dec 31,    March 31,
                                                        2005         2005
                                                      --------     --------
   Unrealized holding gain(loss) recognized as of     $(69,327)    $ 9,958
   Holding gain (loss) recognized
	in prior years endings                           ( 5,673)    (15,631)
								      --------	 -------

   Unrealized holding gain (loss) on investment
      Available for sale                              $(75,000)   $( 5,673)
								       =======     =======

     The Company sold certain available-for-sale securities during the nine
months ended December 31, 2005 and 2004 and received $53,301 and $43,870
respectively in proceeds. Sales of these securities resulted in a realized
loss of $22,989 and $230.

     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. Castaway and OneDisc have
raised additional capital through the sale of additional equity interest. This
has reduced the Company's equity interest to eight percent (8%) for each
company. The investments are stated at approximate fair value at December 31,
2005 and at cost which approximates fair value at March 31, 2005. During the
nine months ended December 31, 2005 the Company determined that the equity
interest was impaired by 75% and reduced the carrying value by $75,000 in
aggregate for the equity interest.








                                <page 16>
EnXnet, Inc.
NOTES TO FINANCIAL STATEMENTS

5.  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, 2005 and 2004 was $29,361 and $29,130 and
at December 31, 2005 and March 31, 2005 accumulated amortization was $198,083
and $168,722.

6.   Income Taxes

     At December 31, 2005 and March 31, 2005, the Company had net deferred tax
assets of approximately $988,000 and $858,000 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, 2005 and
March 31, 2005. At December 31, 2005, the Company has net operating loss
carryforwards totaling approximately $2,906,000 which will begin to expire in
the year 2015.















                                 <page 17>
EnXnet, Inc.
NOTES TO FINANCIAL STATEMENTS

7. Notes Payable

    Notes payable-related party consists of the following:

                                                        Dec 31,    March 31,
                                                         2005         2005
                                                       -------      --------
     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 note payable to Ryan Corley,
      President of the Company, due on demand,
      convertible into a maximum of
      3,524,020 common shares                          528,603       463,215
                                                      --------      --------
     Total notes payable-related party 	           $ 638,603     $ 573,215
                                                      ========      ========

   Notes payable consist of the following:

       6% convertible notes payable to a
        stockholder, due on demand, convertible
        into a maximum of 462,120 common shares      $  69,318      $ 60,554

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

       Non-interest bearing note payable to a           25,378        21,640
        stockholder, payments begin May 2005 in the
        amount of $5,000 per month, option to
        purchase 150,000 common shares at $.20
        per share, note was discounted using an
        imputed interest rate of 6%.
                                                      --------       -------
     Total notes payable                             $ 269,696      $257,194
                                                      ========       =======
8.  Advances from Officer and Stockholder

     During the nine months ended December 31, 2005, a stockholder made
additional unsecured advances totaling $67,500. On July 18, 2005, the
stockholder agreed to exchange $271,340 of the advances for 1,000,000 shares
of the Company's rule 144 common stock. At December 31, 2005 and March 31,
2005, advances from stockholder were $31,000 and $234,840, respectively.

     During the nine months ended December 31, 2005, the CEO made additional
and unsecured advances totaling $8,743. During the nine months ended December
31, 2005 the Company made payments on these advances of $6,600. At December 31,
2005 and March 31, 2005, advances from CEO were $5,413 and $3,270,
respectively.

                                 <page 18>
EnXnet, Inc.
NOTES TO FINANCIAL STATEMENTS

9. Common Stock Transactions

     The Company issued 1,534,850 shares of restricted common stock in exchange
for services in the nine months ended December 31, 2005. The Company issued
200,000 shares of stock in exchange for $50,000 also in the nine months ended
December 31, 2005.

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, 2005 and 2004, the Company granted -0- and 200,000 stock options
to employees, consultants and members of the Board of Directors.

     During the nine months ended December 31, 2005 and 2004, Company granted
500,000 and 200,000 other stock options to employees and consultants to
purchase common stock with exercise prices from $.10 to $.43 per share.
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, 2005 and 2004 were $5,226 and $39,793, 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,
                                           2005           2004
                                         ========     =========
         Dividends yield                     0%            0%
         Expected volatility                40%           40%
         Risk-free interest rate           1.0%          1.0%
         Expected life                  7.20 years    4.83 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,
                                           2005           2004
                                         ========      =========
Pro forma net loss to stockholders      $(383,105)   $ (477,976)
Pro forma basic and diluted
     net loss per share                    (0.015)       (0.019)

                                 <page 19>
EnXnet, Inc.
NOTES TO FINANCIAL STATEMENTS

10. Stock Options - continued

     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.

     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:
                                             Dec 31,      March 31,
                                               2005          2005
                                            =========     =========
Options outstanding at beginning of period  4,400,800     4,090,000
Options granted                               500,000       350,000
Options exercised                                -         ( 14,200)
Options canceled                             (400,000)     ( 25,000)
                                            ---------     ---------
Options outstanding at end of period        4,500,800     4,400,800
                                            =========     =========
The following table summarizes the information about the stock options
as of December 31, 2005:

                    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     0.50       $.40         400,000      $.40
   .50   1,095,800     3.82        .50       1,095,800       .50
   .50     795,000     4.92        .50         795,000       .50
 .17-.90   760,000     1.05        .34         755,000       .34
 .40-.66 1,000,000     2.34        .52       1,000,000       .52
   .43     200,000     5.58        .43         200,000       .43
   .20     150,000     0.83        .20         150,000       .20
   .10     100,000      .29        .10         100,000       .10
-------- ---------  ---------- ------------  ----------  ---------
$.10-.90 4,500,800     3.13        .46       4,495,800      $.45
======== =========  ========== ============  ==========  =========



                                    <page 20>
EnXnet, Inc.
NOTES TO FINANCIAL STATEMENTS

10. Stock Options - continued

The following table summarizes the information about the stock options
as of March 31, 2005:

                    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      .25       $.40         400,000      $.40
   .50   1,095,800     4.57        .50         945,800       .50
   .50     795,000     5.67        .50         795,000       .50
 .17-.90   760,000     1.80        .33         755,000       .34
 .40-.66 1,000,000     3.09        .52         794,000       .50
   .43     200,000     6.33        .43         150,000       .43
   .20     150,000     1.58        .20         150,000       .20
-------- ---------  ---------- ------------  ----------  ---------
$.17-.90 4,400,800     3.54        .45       3,989,800      $.45
======== =========  ========== ============  ==========  =========

11. Commitments and Contingencies

     We may from time to time be parties to various legal actions. The
Company is involved in litigation in the ordinary course of business.
Currently we are being sued by a party to two agreements with the Company
alleging breach of contract, fraud, and breach of fiduciary duty. Based on
information currently available, it is impossible to determine the outcome or
any potential adverse effect the outcome will have on the Company. If there
were a potential adverse effect on the Company an estimate of the loss to the
Company cannot be made at this time.




















                                    <page 21>

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. was 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 30-60 days and has a plan in place to raise additional
working capital by the sale of shares of the Company's common stock to
selected perspective individuals and from additional borrowings. This plan
should provide the additional necessary funds required to enable the Company
to continue marketing and developing its products until the Company can
generate enough cash flow to sustain its operations.

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

     The Company currently has four full-time employees. It is anticipated
that the Company will need to hire additional employees in order to expand the
marketing and developing of its products.

Results of Operations - December 31, 2005 and 2004.

     In the year ending March 31, 2004, the Company was considered a
development stage company as defined in SFAS No. 7. Substantial revenues were
produced in the year ending March 31, 2005 in regard to the overall operations
of the organization, thus the Company is no longer considered to be in the
development stage. During the nine months ended December 31, 2005 and 2004 our
revenues from operations were $1,790 and $381,173. Gross profits from these
revenues were $1,040 and $133,977, respectively. Prior to the year ending March
31, 2005 there had been no significant revenues since incorporation.  For the
nine months ended December 31, 2005 and 2004, the Company incurred operating
expenses of $318,853 and $550,058. The decrease in operating expenses of
$231,205 (42%) is attributed to a decrease in consulting fees and in the Black-
Scholes option valuations related to stock options granted to consultants, and
a decrease in payroll expenses from the reduction from 5 to 4 employees in our
office. During the nine months ended December 31, 2005 and 2004 we incurred net
losses of $382,549 and $447,566 or $(0.015) and $(0.018) per share, which is
primarily the result of payment of payroll expenses, consulting fees, and
professional services.







                                     <page 22>

Liquidity and Capital Resources.

      From inception through January 23, 2006, the Company has issued
27,792,893 shares of its Common Stock to officers, directors and others.  The
Company has little operating history and no material assets other than the
license agreement for ClearVideo and DVDPlus, and the pending patents for
ThinDisc, Disc Security Tag, EnXCase, "acousto-magnetic" EAS tags, ARFIDTag
and HyTag, passive electronic EAS tag.  The Company has $9,393 in cash as of
December 31, 2005.

     Until the previous year, the Company was in the development stage
since its inception. The Company had no recurring source of revenue until the
current year and has incurred operating losses since inception. During the
year ended March 31, 2005 the Company started receiving significant revenues
from the sales of its products and is no longer considered to be in the
development stage. The Company has incurred operating losses each year since
its inception and has had a working capital deficit at December 31, 2005 and
March 31, 2005. At December 31, 2005 and March 31, 2005, the working capital
deficit was $1,045,934 and $1,188,682, respectively. 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, 2005 financial statements which expressed substantial doubt
about the Company's ability to continue as a going concern.

     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.










                                <page 23>

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, the Frankfurt, Berlin and Stuttgart Stock Exchanges
in Germany and, if and when qualified, it intends to apply for admission to
quotation on American Stock Exchange. 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

     Evaluation of Disclosure Controls and Procedures. Our Chief Executive
Officer and Chief Financial Officer have concluded, based on their evaluation
as of the end of the period covered by this report, that our disclosure
controls and procedures (as defined in Rules 13(a)-15(e) under the Securities
Act of 1934, as amended) are effective to ensure that all information required
to be disclosed by us in the reports filed or submitted by us under the
Securities and Exchange Act is recorded, processed, summarized and reported
within the time periods specified in the SEC's rules and forms, and include
controls and procedures designed to ensure that information required to be
disclosed by us in such reports is accumulated and communicated to the our
management, including the Chief Executive Officer and the Chief Financial
Officer, as appropriate and allow timely decisions regarding required
disclosure.

     Changes in Internal Controls. In connection with the above-referenced
evaluation, no change in our internal control over financial reporting occurred
during the period covered by this report that has materially affected, or is
reasonably likely to materially affect, our internal control over financial
reporting.

PART II OTHER INFORMATION

Item 1. Legal Proceedings
     The Company is involved in litigation in the ordinary course of business.
Based on information currently available, it is impossible to determine the
outcome or any potential adverse effect the outcome will have on the Company.
If there were a potential adverse effect on the Company an estimate of the
loss to the Company cannot be made at this time.

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

                                <page 24>

Item 5. Other Information
     Not applicable

Item 6. Exhibits and Reports on Form 8-K
     (a) Exhibits
         Exhibit 99.1     Certification of financial statements
                          Chief Executive Officer and Chief Financial Officer
















































                                <page 25>

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 14, 2006
/s/ Ryan Corley
    Ryan Corley - President










































                                <page 26>