UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                      Washington, D.C. 20549

                           FORM 10-QSB

[X]     Quarterly Report Under Section 13 or 15(d) of the Securities Exchange
        Act of 1934

              For Quarter Ended:  September 30, 2001

                                OR

[ ]     Transition Report Pursuant to Section 13 or 15(d) of the Securities
        Exchange Act of 1934

                  Commission File No.  000-31023

                     WorldNet, Inc. of Nevada
      (Exact name of registrant as specified in its charter)

             Nevada                                     88-0247824
     (State of incorporation)                        (I.R.S. Employer
                                                     Identification No.)
                   #440, 476 East South Temple
                    Salt Lake City, Utah 84111
                          (801) 323-2395
   (Address and telephone number of principal executive offices
                 and principal place of business)


      Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.  Yes  [ X ]   No  [   ]

      As of November 5, 2001, the Registrant had a total of 17,500,000 shares
of common stock issued and outstanding.

<PAGE>

                  PART I: FINANCIAL INFORMATION

ITEM 1:  FINANCIAL STATEMENTS

      The financial information set forth below with respect to our statements
of operations for the three and nine month periods ended September 30, 2001
and 2000 are unaudited.  This financial information, in the opinion of
management, includes all adjustments consisting of normal recurring entries
necessary for the fair presentations of such data.  The results of operations
for the nine months ended September 30, 2001, are not necessarily indicative
of results to be expected for any subsequent period.











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<PAGE>








                     WorldNet, Inc. of Nevada

                  (A Development Stage Company)

                       Financial Statements

                        September 30, 2001





<PAGE> 3



                     Worldnet, Inc. of Nevada

                  (A Development Stage Company)

                          Balance Sheets



                              ASSETS
                                                September 30,  December 31,
                                                    2001         2000
                                                ------------- -------------
                                                 (Unaudited)

CURRENT ASSETS                                  $          -  $          -
                                                ------------- -------------

  TOTAL ASSETS                                  $          -  $          -
                                                ============= =============

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

Accounts Payable - Related Party                $     32,000  $     32,000
                                                ------------- -------------

  Total Liabilities                                   32,000        32,000
                                                ------------- -------------

STOCKHOLDERS' EQUITY

Common Stock, $.001 par value; 25,000,000
  shares authorized; 17,500,000 shares
  issued and outstanding                              17,500        17,500

Additional Paid in Capital                            38,500        38,500

Deficit Accumulated During the Development Stage     (88,000)      (88,000)
                                                ------------- -------------

  Total Stockholders' Equity                         (32,000)      (32,000)
                                                ------------- -------------

  TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY    $          -  $          -
                                                ============= =============




<PAGE> 4

                     Worldnet, Inc. of Nevada
                  (A Development Stage Company)
                     Statement of Operations
                           (Unaudited)
<TABLE>
<CAPTION>






                    For the       For the       For the       For the       From
                    three         three         nine          nine          inception on
                    months        months        months        months        March 12,
                    ended         ended         ended         ended         1986 to
                    September 30, September 30, September 30, September 30, September 30,
                    2001          2000          2001          2000          2001
                    ------------- ------------- ------------- ------------- -------------
<S>                 <C>           <C>           <C>           <C>           <C>
REVENUES            $          -  $          -  $          -  $          -  $          -
                    ------------- ------------- ------------- ------------- -------------

EXPENSES
  General &
   Administrative              -             -             -             -        88,000
                    ------------- ------------- ------------- ------------- -------------

    TOTAL EXPENSES             -             -             -             -        88,000
                    ------------- ------------- ------------- ------------- -------------

NET INCOME(LOSS)    $          -  $          -  $          -  $          -  $    (88,000)
                    ============= ============= ============= ============= =============

NET LOSS PER SHARE  $          -  $          -  $          -  $          -  $      (0.01)
                    ============= ============= ============= ============= =============
WEIGHTED AVERAGE
 SHARES OUTSTANDING   17,500,000    17,500,000    17,500,000    17,500,000    17,343,987
                    ============= ============= ============= ============= =============








</TABLE>
<PAGE> 5
<TABLE>
<CAPTION>


                       Worldnet, Inc. of Nevada
                    (A Development Stage Company)
                       Statement of Cash Flows
                             (Unaudited)

                                                                      From
                                           For the nine months ended  inception on
                                                September 30,         March 12, 1986
                                         ---------------------------  to September 30,
                                             2001             2000    2001
                                         ------------- -------------  -----------------
<S>                                      <C>           <C>            <C>
Cash Flows from Operating Activities

  Net Loss                               $          -  $          -   $        (88,000)
  Less Non-Cash Items:
  Shares issued for services                        -             -             39,000
  Depreciation & amortization                       -             -             17,000
  Increase(Decrease) in accounts payable            -             -             32,000
                                         ------------- -------------  -----------------

  Net Cash Provided(Used) by
   Operating Activities                             -             -                  -
                                         ------------- -------------  -----------------

Cash Flows from Investing Activities

  Net Cash Provided(Used) by
  Investing Activities                              -             -                  -
                                         ------------- -------------  -----------------

Cash Flows from Financing Activities

  Net Cash Provided(Used) by
   Financing Activities                             -             -                  -
                                         ------------- -------------  -----------------

Increase in Cash                                    -             -                  -
                                         ------------- -------------  -----------------

Cash and Cash Equivalents at
  Beginning of Period                               -             -                  -
                                         ------------- -------------  -----------------

Cash and Cash Equivalents at
  End of Period                          $          -  $          -   $              -
                                         ============= =============  =================

Supplemental Non-Cash Financing Transactions:

  Stock issued for marketing rights                 -             -             17,000
  Stock issued for services                         -             -             39,000

Cash Paid For:
  Interest                               $          -  $          -   $              -
  Income Taxes                           $          -  $          -   $              -


</TABLE>
<PAGE> 6

                     WorldNet, Inc. of Nevada
                  (A Development Stage Company)
                Notes to the Financial Statements
                        September 30, 2001



GENERAL

WorldNet, Inc. of Nevada (the Company) has elected to omit substantially all
footnotes to the financial statements for the nine months ended September 30,
2001 since there have been no material changes (other than indicated in other
footnotes) to the information previously reported by the Company in their
Annual Report filed on the Form 10-KSB for the year  ended December 31, 2000.

UNAUDITED INFORMATION

The information furnished herein was taken from the books and records of the
Company without audit.  However, such information reflects all adjustments
which are, in the opinion of management, necessary to properly reflect the
results of the interim period presented.  The information presented is not
necessarily indicative of the results from operations expected for the full
fiscal year.



<PAGE> 7


      In this report references to "WorldNet," "we," "us," and "our" refer to
WorldNet, Inc. of Nevada.

                    FORWARD LOOKING STATEMENTS

      This Form 10-QSB contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.  For this
purpose any statements contained in this Form 10-QSB that are not statements
of historical fact may be deemed to be forward-looking statements.  Without
limiting the foregoing, words such as "may," "will," "expect," "believe,"
"anticipate," "estimate" or "continue" or comparable terminology are intended
to identify forward-looking statements.  These statements by their nature
involve substantial risks and uncertainties, and actual results may differ
materially depending on a variety of factors, many of which are not within
WorldNet's control.  These factors include but are not limited to economic
conditions generally and in the industries in which WorldNet may participate;
competition within WorldNet's chosen industry, including competition from much
larger competitors; technological advances and failure by WorldNet to
successfully develop business relationships.


ITEM 2:   PLAN OF OPERATIONS

      Since inception, we have had no revenues and have experienced losses.
We have financed our operations primarily through the sale of our common stock
or by loans from shareholders.  As of September 30, 2001, we had no cash on
hand and total current liabilities of $32,000.  The total current liabilities
are related to an account payable for legal and accounting fees paid on our
behalf by a shareholder during fiscal year 1999.  We have no material
commitments for the next twelve months.  We believe that our current cash
needs for at least the next twelve months can be met by loans from our
directors, officers and shareholders.

      Our management intends to actively pursue business opportunities during
the next twelve months. All risks inherent in new and inexperienced
enterprises are inherent in our business.  We have not made a formal study of
the economic potential of any business opportunity and as of the date of this
filing, we have not identified any assets or business opportunities for
acquisition.

      Based on current economic and regulatory conditions, management believes
that it is possible, if not probable, for a company like ours, without many
assets or liabilities, to negotiate a merger or acquisition with a viable
private company.  The opportunity arises principally because of the high legal
and accounting fees and the length of time associated with the registration
process of "going public."  However, should any of these conditions change, it
is very possible that there would be little or no economic value for anyone
taking over control of WorldNet.

      Potential investors must recognize that because of our limited capital
available for investigation and management's limited experience in business
analysis we may not discover or adequately evaluate adverse facts about the
business opportunity to be acquired.  Also, we intend to concentrate our
acquisition efforts on properties or businesses that we believe to be
undervalued or that we believe may realize a substantial benefit from being
publicly owned.  Investors should expect that any acquisition candidate may
have little or no operating history, or a history of losses or low
profitability.

                                8
<PAGE>

      It is emphasized that our management may effect transactions having a
potentially adverse impact upon our shareholders pursuant to the authority and
discretion of our management to complete acquisitions without submitting any
proposal to the stockholders for their consideration.

      Should a merger or acquisition prove unsuccessful, it is possible that
we may decide not to pursue further acquisition activities and management may
abandon its activities and our shares would become worthless.

                    PART II: OTHER INFORMATION


ITEM 6: EXHIBITS AND REPORTS ON FORM 8-K

(a)  Exhibits.

Exhibit
Number            Description
-----------       -----------

3.1          Articles of Incorporation, dated March 12, 1986 (incorporated by
             reference to exhibit 3.1 to Form 10-SB, filed July 14, 2000)

3.2          Bylaws of WorldNet (incorporated by reference to exhibit 3.2 to
             Form 10-SB, filed July 14, 2000)


(b)  Reports on Form 8-K.

      None.



                            SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant caused this report to be signed on its behalf by the undersigned
who is duly authorized.


                          WorldNet, Inc. of Nevada


       11/06/01
Date: ____________        By: /s/ Donald R. Mayer
                             --------------------------------------------
                             Donald R. Mayer, President and Director










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