SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB


(Mark One)
   [X]   Quarterly report under Section 13 or 15(d) of the Securities Exchange
         Act of 1934 for the quarterly period ended March 31, 2001.

   [  ]  Transition report under Section 13 or 15(d) of the Securities Exchange
         Act of 1934 for the transition period from              to            .



         Commission file number: 000-32253
                                 ---------


                                 ENTERNET, INC.
        (Exact name of small business issuer as specified in its charter)




                     Nevada                                 87-0650264
                     ------                                 ----------
        (State or other jurisdiction of                  (I.R.S. Employer
         incorporation or organization)                 Identification No.)





                 1403 East 900 South, Salt Lake City, Utah 84105
               (Address of principal executive office) (Zip Code)


                                 (801) 582-9609
                           (Issuer's telephone number)



Check whether the issuer:  (1) filed all reports required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days.

                                    Yes XX     No
                                        -----     ---------

The number of outstanding shares of the issuer's common stock, $0.001 par value
(the only class of voting stock), as of May 11, 2001 was 10,500,000.


<PAGE>



                                TABLE OF CONTENTS

                          PART I- FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS..................................................3

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.............4

                                     PART II

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS. . . . . . . . . . . . . . .5

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K......................................6

SIGNATURES.....................................................................7

INDEX TO EXHIBITS..............................................................8












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                                        2

<PAGE>



                                     PART I

ITEM 1.           FINANCIAL STATEMENTS

As  used  herein,  the  term  "Company"  refers  to  Enternet,  Inc.,  a  Nevada
corporation,  and its subsidiaries and predecessors unless otherwise  indicated.
Consolidated,  unaudited,  condensed  interim financial  statements  including a
balance  sheet for the  Company as of the  quarter  ended  March 31,  2001,  and
statements of operations, and statements of cash flows for the interim period up
to the date of such balance  sheet and the  comparable  period of the  preceding
year are attached hereto as Pages F-1 through F-5 and are incorporated herein by
this reference.














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                                        3

<PAGE>



INDEX TO FINANCIAL STATEMENTS

Unaudited Balance Sheet as of March 31, 2001.................................F-2

Unaudited Statement of Operations for the three months ended March 31, 2001
and March 16, 2000 (Date of Inception) to March 31, 2001.....................F-3

Unaudited Statement of Cash Flows for the three months ended March 31, 2001
and March 16, 2000 (Date of Inception) to March 31, 2001.....................F-4

Notes to Condensed Financial Statements......................................F-5












                                       F-1

<PAGE>



                                 ENTERNET, INC.
                          (A Development Stage Company)
                                  Balance Sheet
                                 March 31, 2001
                                   (Unaudited)
<TABLE>
<CAPTION>

                                     Assets
<S>                                                                     <C>

    Cash & cash equivalents                                              $   82,701
                                                                         ----------
         Total Current Assets                                                82,701
                                                                         ----------

                                  Total Assets                           $   82,701

                                                                         ==========


                      Liabilities and Stockholders' Equity
Current Liabilities
     Accounts Payable                                                    $    1,235
     Related Party Payables                                                  35,000
                                                                         ----------
         Total Current Liabilities                                           36,235
                                                                         ----------

Stockholders' equity:
     Preferred stock, $.001 par value, 5,000,000 shares authorized,
           no shares issued and outstanding                                       -
     Common stock, $.001 par value, 45,000,000 shares
           authorized, 10,500,000 shares issued and outstanding              10,500
     Additional paid-in capital                                              83,171
     Deficit accumulated during development stage                           (47,205)
                                                                         ----------
         Total stockholders' equity                                          46,466
                                                                         ----------
                   Total liabilities and stockholders' equity            $   82,701
                                                                         ==========

</TABLE>





                 See accompanying notes to Financial Statements

                                       F-2

<PAGE>



                                 ENTERNET, INC.
                          (A Development Stage Company)
                        Unaudited Statement of Operations
                     Three months ended March 31, 2001, and
              March 16, 2000 (Date of Inception) to March 31, 2001
<TABLE>
<CAPTION>




                                                          Three months
                                                            ended           Inception to
                                                         March 31, 2001      March 31,
                                                                                2001
                                                          ------------      -----------
<S>                                                     <C>                <C>


Revenues - interest income                                $          -      $         -

General and administrative costs                                 8,023           47,205
                                                          ------------      -----------

                  Loss before income taxes                      (8,023)         (47,205)

Provision for income taxes                                           -                -
                                                          ------------      -----------

                  Net Loss                                $     (8,023)     $   (47,205)

                                                          ============      ===========

Income / (Loss) per common share - basic and diluted      $       0.00      $

                                                          ============      ===========

Weighted average common shares - basic and diluted           8,722,222

                                                          ============      ===========

</TABLE>






                 See accompanying notes to Financial Statements

                                       F-3

<PAGE>



                                 ENTERNET, INC.
                          (A Development Stage Company)
                        Unaudited Statement of Cash Flows
                      Three months ended March 31, 2001 and
              March 16, 2000 (Date of Inception) to March 31, 2001
<TABLE>
<CAPTION>


                                                                Three months ended   Inception to
                                                                  March 31, 2001    March 31, 2001
                                                                 ----------------   -------------

                                                                 ----------------   -------------
<S>                                                             <C>                <C>

Cash flows from operating activities:
     Net loss                                                    $         (8,023)  $     (47,205)
          Adjustments to reconcile net loss to net cash
         (used) in operating activities:
             Decrease (increase) in deferred offering costs                11,329               -
             Increase (decrease) in accounts payable                      (10,094)          1,235
                                                                 ----------------   -------------

             Net cash (used) in operating activities                       (6,788)        (45,970)
                                                                 ----------------   -------------

Cash flows from investing activities                                            -               -
                                                                 ----------------   -------------

Cash flows from financing activities
           Issuance of common stock                                        88,671          93,671
           Proceeds from related party payables                                 -          35,000
                                                                 ----------------   -------------

             Net cash provided by financing activities                     88,671         128,671
                                                                 ----------------   -------------

Net increase in cash                                                       81,883          82,701

Cash, beginning of period                                                     818               -
                                                                 ----------------   -------------

Cash, end of period                                              $         82,701   $      82,701

                                                                 ================   =============
</TABLE>






                 See accompanying notes to Financial Statements

                                       F-4

<PAGE>



                                 ENTERNET, INC.
                          (A Development Stage Company)
                          Notes to Financial Statements
                                 March 31, 2001


1.       Organization

The  Company  was  organized  under the laws of the State of Nevada on March 16,
2000 for the  purpose  of  marketing  wholesale  vitamin  products  through  the
Internet.  The Company has only recently  commenced  planned  operations  and is
considered a development stage company as defined in SFAS No. 7.

2.       Unaudited Financial Statements

The  unaudited  financial  statements  include  the  accounts of the Company and
include all adjustments  (consisting of normal recurring  items),  which are, in
the opinion of management, necessary to present fairly the financial position as
of March 31,  2001 and the  results of  operations  and cash flows for the three
months  ended March 31,  2001.  The results of  operations  for the three months
ended  March 31,  2001,  are not  necessarily  indicative  of the  results to be
expected for the entire year.

3.        Basis of Presentation

The accompanying consolidated unaudited condensed financial statements have been
prepared by management in accordance  with the  instructions in Form 10-QSB and,
therefore,  do not include all information  and footnotes  required by generally
accepted  accounting  principles and should,  therefore,  be read in conjunction
with  the  Company's  Form  10-KSB,  filed  with  the  Securities  and  Exchange
Commission.  These statements do include all normal recurring  adjustments which
the Company believes  necessary for a fair  presentation of the statements.  The
interim operations results are not necessarily indicative of the results for the
full year ended December 31, 2001.

4.       Additional footnotes included by reference

Except as indicated in Notes above, there have been no other material changes in
the information  disclosed in the notes to the financial  statements included in
the Company's Form 10-KSB,  filed with the  Securities and Exchange  Commission.
Therefore, those footnotes are included herein by reference.







                                       F-5

<PAGE>



ITEM 2.       MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Plan of Operations

General

Our business  plan for the next nine months  involves 6  milestones.  We plan to
achieve these  milestones  during the following  quarters of the year 2001:  (1)
conducting  market  surveys to determine the most receptive  market  segments in
which to sell health-related products under the  VitaMineralHerb.com  license we
have purchased (1st quarter of 2001); (2) establishing an office (2nd quarter of
2001);  (3) developing a marketing  campaign (2nd quarter of 2001); (4) hiring a
salesperson  (3rd  quarter of 2001);  (5)  initiating  marketing  campaign  (3rd
quarter of 2001); and (6) achieving revenues (4th quarter of 2001).

During the period from  December 31, 2000 to March 31, 2001,  we have engaged in
no significant  operations other than the closing of our public registration and
preliminary  marketing surveys.  On December 14, 2000 the SEC declared effective
the offering of 10,000,000  shares of the Company's  common stock at an offering
price of one cent ($0.01) per share pursuant to a SB-2  registration  statement.
The offering was fully  subscribed and closed on January 16, 2001 on the receipt
of gross proceeds to EnterNet of one hundred thousand dollars ($100,000).

For  the  current  fiscal  quarter,  we have  incurred  a loss  as a  result  of
organizational  expenses,   expenses  associated  with  registration  under  the
Securities  Act of 1933,  and  expenses  associated  with  setting  up a company
structure to begin  implementing  our business plan. We anticipate  that we will
complete our market survey,  organizational and implementation phases by the 3rd
quarter of 2001,  and that we will not generate  revenues  during this time.  We
anticipate  hiring a salesperson in the 3rd quarter of 2001, and expect to begin
generating  revenues during the 4th quarter of 2001. However, we may continue to
operate at a loss even  after  generating  some  revenue,  depending  on how our
business performs.

Losses

For the period from January 1, 2001 to March 31, 2001,  we recorded an operating
loss  of  $8,023.  This  lack  of  profitability  is  attributable  to  expenses
associated  with our public  registration  and  organizational  associated  with
starting up our business.  We did not generate any revenues  during this period.
We expect to continue to operate at a loss through fiscal 2001.

Capital Expenditures

We expended no amounts on capital expenditures for the quarterly period ending
March 31, 2001.

Capital Resources and Liquidity

We had current assets of $82,701 and total assets of $82,701 as of the quarterly
period ending March 31, 2001.  These assets  consist of cash on hand of $82,701.
Net stockholders' equity in the Company was $46,466 at March 31, 2001.

                                        4

<PAGE>



Cash flow  provided  from  financing  activities  was $88,671 for the  quarterly
period ending March 31, 2000. On January 16, 2001, a total of 10,000,000  shares
of  common  stock  were  issued  upon  the  closing  of  the  Company's   public
registration.  The shares were issued at $0.01, and the Company received a gross
amount of $100,000 as a result of the issuance.  Total  issuance costs paid were
$11,329.

The first step in our business plan is to perform  market  research to determine
the  most  receptive  market  segments  in  which  to  sell  VitaMineralHerb.com
products.  After we  complete  our market  survey,  we will set up an office and
employ  a  salesperson  to call on  medical  professionals,  alternative  health
professionals,   martial  arts  studios  and  instructors,  sports  and  fitness
trainers, other health and fitness professionals,  school and other fund raising
programs and other similar types of customers to interest these professionals in
selling to their clients high-quality,  low-cost vitamins, minerals, nutritional
supplements,  and other health and fitness products.  These  professionals would
sell the products to their clients via the Internet.

We have already  begun market  research  relating to our target  markets.  After
completing our market survey,  we will  establish an office,  develop  marketing
materials,  advertise and hire a salesperson to market the products.  We believe
that  during  the  calendar  year  2001,  we will  need a  capital  infusion  of
approximately  $100,000  to achieve a  sustainable  sales  level  where  ongoing
operations can be funded out of revenues.  This capital  infusion is intended to
cover  costs  of our  marketing  survey,  advertising,  hiring  and  paying  one
salesperson,  repaying  our  $35,000  loan  to  obtain  the  VitaMineralHerb.com
license, and administrative expenses.

We believe that the proceeds  obtained  from our offering  will be sufficient to
satisfy contemplated cash requirements for at least the next twelve (12) months.
In the event that plans change,  assumptions  prove to be inaccurate,  or if the
proceeds of that offering prove to be  insufficient to fund operations and fully
implement our business plan, we could be required to seek  additional  financing
from  sources  not  currently  anticipated.  We have no current  commitments  or
arrangements with respect to, or immediate sources of, additional  financing and
it is not anticipated that any existing stockholders or lenders will provide any
portion of future financing.  Additionally,  no assurances can be given that any
additional financing,  when needed, will be available or available on acceptable
terms. Any inability to obtain  additional  financing when required could have a
material adverse effect on our operations, including requiring us to curtail our
marketing efforts.

                           PART II - OTHER INFORMATION

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

On December  14, 2000 the SEC  declared  effective  the  offering of  10,000,000
shares of the  Company's  common stock at an offering  price of one cent ($0.01)
per share pursuant to a Securities Act SB-2 registration statement identified as
SEC file  number  33-42436.  The  offering  was fully  subscribed  and closed on
January  16,  2001 on the  receipt of gross  proceeds to EnterNet of one hundred
thousand dollars ($100,000).

The Company has used the proceeds of this offering through the period ended
March 31, 2001 as follows:

Legal Fees (associated with the offering)            $9,279
Accounting Fees (associated with the audit)          $3,550



                                        5

<PAGE>

The use of proceeds detailed above were made to entities unaffiliated with the
Company and were in accord with the use of proceeds described in the Company's
prospectus.

ITEM 6.           EXHIBITS AND REPORTS ON FORM 8-K

(a)      Exhibits Exhibits required to be attached by Item 601 of Regulation S-B
         are listed in the Index to Exhibits on page 6 of this Form 10-QSB, and
         are incorporated herein by this reference.

(b)      Reports on Form 8-K.  No reports on Form 8-K were filed during the
         period covered by this Form 10-QSB.















                                        6

<PAGE>

                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed  on its  behalf  by the  undersigned,  hereunto  duly
authorized, this 11th day of May, 2001.



ENTERNET, INC.


/s/ Ruairidh Campbell
----------------------
Ruairidh Campbell
President and Director







                                        7

<PAGE>


                                INDEX TO EXHIBITS

EXHIBIT           PAGE
NO.               NO.               DESCRIPTION

3(i)              *                 Articles of Incorporation of the Company
                                    (incorporated herein by reference from
                                    Exhibit No. 3(i) of the Company's Form SB-2
                                    as filed with the Securities and Exchange
                                    Commission on July 28, 2000).

3(ii)             *                 Bylaws of the Company (incorporated herein
                                    by reference from Exhibit 3(ii) of the
                                    Company's Form 10-SB as filed with the
                                    Securities and Exchange Commission on July
                                    28, 2000).


* Incorporated herein by reference from the referenced filings previously made
by the Company.








                                        8