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 the quarterly period ended: September 30, 2002


[ ]     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 small business issuer 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)

Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act 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 October 22, 2002, the issuer had a total of 17,500,000 shares of common
stock issued and outstanding.

Transitional small business disclosure format:  Yes [ ]  No [X]

<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, 2002
and 2001 is 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, 2002, are not necessarily indicative
of results to be expected for any subsequent period.





                                2
<PAGE>













                     Worldnet, Inc. of Nevada
                       Financial Statements
                        September 30, 2002



<PAGE> 3





                     Worldnet, Inc. of Nevada
                  (A Development Stage Company)
                          Balance Sheets

                              ASSETS


                                                   Sept. 30     December 31
                                                     2002          2001
                                                -------------- -------------
                                                 (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 (deficit)                (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 months   three months   nine months    nine months    inception on
                           ended Sept.30, ended Sept.30, ended Sept.30, ended Sept.30, March 12, 1986
                           2002           2001           2002           2001           to Sept.30, 2002
                           -------------- -------------- -------------- -------------- ----------------

                        <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     17,355,841
                           ============== ============== ============== ============== ==============


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



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


                                                                                       From
                                                                                       Inception on
                                                          For the nine months ended    March 12, 1986
                                                                   Sept. 30,           Through
                                                              2002           2001      Sept. 30, 2002
                                                       --------------- --------------- --------------

                                                    <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  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 (Decrease) in Cash                                         -               -              -

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

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

Supplemental Cash Flow Information:

  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, 2002


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,
2002 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 twelve months ended December
31, 2001.

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 and 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, failure by management to successfully develop business
relationships, competition within the merger and acquisitions market, lack of
operations, and future changes by regulatory agencies.



ITEM 2:   PLAN OF OPERATIONS

     Since inception, we have had no revenues and have recorded losses.  We
have financed our operations primarily through the sale of our common stock or
by loans from shareholders.  As of September 30, 2002, 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.  However, these
understandings are not formal agreements and therefore these persons are not
obligated to provide funds.  We may repay any loans, costs of services and
advancements with cash, if available, or we may convert them into common
stock.

     Our management intends to actively pursue business opportunities during
the next twelve months. 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.

     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.   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.  All risks inherent in new and inexperienced enterprises are
inherent in our business.  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.

     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.


                                8
<PAGE>



ITEM 3: CONTROLS AND PROCEDURES

     As a result of new SEC regulations, our Board formalized our disclosure
controls and procedures by creating documents which outline the steps and
procedures we take to ensure that material information regarding our company
and its operations is provided to the public in a timely manner.  On October
29, 2002, our President, acting in the capacity of principal executive and
financial officer, evaluated the effectiveness of these disclosure controls
and procedures and determined that there were no significant deficiencies in
these procedures.

     Also, the President did not identify any deficiencies or material
weaknesses in our internal controls, nor did he identify fraud that involved
our management who had a significant role in our internal controls.  He did
not find any deficiencies of weaknesses which would require changes to be made
or corrective actions to be taken related to our internal controls.


                    PART II: OTHER INFORMATION

ITEM 6: EXHIBITS AND REPORTS ON FORM 8-K

(a) Part II Exhibits
    ----------------

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

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


                              WorldNet, Inc. of Nevada


       10/29/02                     /s/ Donald R. Mayer
Date: _______________         By: __________________________________________
                                     Donald R. Mayer
                                     President, Principal Financial Officer,
                                     and Director


            PRINCIPAL EXECUTIVE OFFICER CERTIFICATION

I, Donald R. Mayer, certify that:

1.   I have reviewed this quarterly report on Form 10-QSB of WorldNet, Inc. of
Nevada;

2.   Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to
make the statement made, in light of the circumstances under which statements
were made, not misleading with respect to the period covered by this quarterly
report;

                                9
<PAGE>



3.   Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report.

4.   The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

a)   designed such disclosure controls and procedures to ensure that material
information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this quarterly report is being
prepared;

b)   evaluated the effectiveness of the registrant's disclosure controls and
procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and

c)   presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our
evaluation as of the Evaluation Date;

5.   The registrant's other certifying officers and I have disclosed, based on
our most recent evaluation, to the registrant's auditors and the audit
committee of registrant's board of directors (or persons performing the
equivalent function):

a)   all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and

b)   any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal controls;
and

6.   The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.



          10/29/02            /s/ Donald R. Mayer
Date: ______________          _____________________________________________
                              Donald R. Mayer, Principal Executive Officer


            PRINCIPAL FINANCIAL OFFICER CERTIFICATION

I, Donald R. Mayer, certify that:

1.   I have reviewed this quarterly report on Form 10-QSB of WorldNet, Inc. of
Nevada;

2.   Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to
make the statement made, in light of the circumstances under which statements
were made, not misleading with respect to the period covered by this quarterly
report;

3.   Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report.



                                10

<PAGE>




4.   The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

a)   designed such disclosure controls and procedures to ensure that material
information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this quarterly report is being
prepared;

b)   evaluated the effectiveness of the registrant's disclosure controls and
procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and

c)   presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our
evaluation as of the Evaluation Date;

5.   The registrant's other certifying officers and I have disclosed, based on
our most recent evaluation, to the registrant's auditors and the audit
committee of registrant's board of directors (or persons performing the
equivalent function):

a)   all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and

b)   any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal controls;
and

6.   The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.


        10/29/02               /s/ Donald R. Mayer
Date: ______________          ____________________________________________
                              Donald R. Mayer, Principal Financial Officer










                             11