SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB/A

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

For the quarterly period ended: October 31, 2000
Commission File No.: 000-27097

GLOBALNETCARE, INC.(Name of small business as specified in charter)

|Florida(State or other jurisdictionof incorporation) | 980215778(IRS Employer IdentificationNumber)
|---------------------------------------------------- | --------------------------------------------

117 Gun Avenue, Pointe-Claire, Quebec, Canada H9R 3X2
(514) 693-0877
(Address and telephone number of principal executive offices)

Indicate by check mark 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 X    No

State the number of shares outstanding of each of the issuer's classes of
commonequity, as of the December 6, 2000
(latest practicable date):

(a)   Common Stock: 58,475,673 shares
(b)   Class A Special Voting Shares: 37,923,891 shares

Transitional Small Business Disclosure Format (check one): Yes; No X

NOTE: The financial
statements contained in Item 1 of Part I of the Form 10-QSB of the Registrant
filed on December 15, 2000 for the quarterly period ended October 31, 2000 (the
October 10-QSB) were inadvertently filed in an incomplete form.
Accordingly, Item 1 of the October 10-QSB is hereby withdrawn in its entirety
and replaced by the following Item 1. Except as specifically amended by this
amendment, the October 10-QSB remains in effect.

PART I - FINANCIAL INFORMATION

ITEM  1.        FINANCIAL  STATEMENTS.

FINANCIAL  STATEMENTS

|Consolidated Balance Sheets                               | 1
|--------------------------------------------------------- | -
|Consolidated Statements of Operations                     | 2
|Consolidated Statements of Cash Flows                     | 3
|Consolidated Statement of Changes in Stockholders' Equity | 4
|Notes  to  Consolidated  Financial  Statements            | 5

GlobalNetCare,  Inc.'s (the "Company")(dba BusinessWayInternational Corp.) financial statements are stated in
United States Dollars (US$) and are prepared in accordance with United States Generally Accepted  Accounting
Principles.

Consolidated Financial Statements of
GLOBALNETCARE, INC. dba BusinessWay International Corp.
(Unaudited)

Consolidated Balance Sheet
Three-month  period  ended October 31,  2000

`October 31,       December 31,
                                              2000              1999
ASSETS

Current Assets
     Cash                                     $116,897         $4,284
     Accounts Receivable                       734,292              0
     Sales tax receivable                            0         25,656
     Inventory                                 195,468              0
     Prepaid Expenses                            4,525            386

Total Current Assets                        $1,051,182        $30,326

Deferred Income Taxes                              214              0

Capital Assets                                 118,129         51,537

                                           -----------   ------------
                                            $1,169,525        $81,863
                                           ==========================

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities

     Accounts Payable and accruals            $493,549        $88,072
     Payroll deductions payable                 89,500        101,782
     Income Taxes Payable                        6,212              0
     Advance from a director                    59,673        451,891
     Current Portion of Long Term Debt           7,599              0
                                           -----------   ------------

Total Current Liabilities                     $656,533       $641,745


TOTAL LIABILITIES                             $656,533       $641,745


STOCKHOLDERS' EQUITY
     Share Capital                            $672,470         $2,135
     Additional paid-in capital              2,914,014      2,314,440
     Deficit                                (3,073,492)    (2,876,457)

TOTAL EQUITY                                   512,992       (559,882)
                                           -----------   ------------
                                            $1,169,525        $81,863
                                           ==========================`

See accompanying notes to financial statements

GlobalNetCare , Inc.
dba BusinessWay International Corp
Consolidated Income Statement

For the Three Months Ended October 31, 2000
(Unaudited)

`For the Three       For the Three
                                          Months ended        Months ended
                                       October 31,2000     October 31,1999

Sales                                         $608,161             $0

Cost of Sales                                  519,292              0
                                   ----------------------------------
Gross Profit                                    88,869              0

Operating expenses
     Communication                               3,751          9,900
     Rent                                        6,956         25,500
     Transport and delivery                        435              0
     Advertising and business promotion          4,082          8,756
     Store expenses                                143              0
     Automobile and travel                       1,798          9,599
     Salaries, commissions and benefits         60,326        205,030
     Amortization                                8,490          9,247
     Interest and bank charges                   2,265            395
     Office expenses and general                 6,129         14,650
     Professional                              133,501         23,500
     Travel expenses                                80              0
     Utilities                                   6,125              0


                                   ----------------------------------
Total Expenses                                $234,081      ($306,577)


Net Income(Loss) Before Taxes                ($145,212)     ($306,577)

Provision for Taxes
     Current                                         0              0
     Deferred                                        0              0
                                   ----------------------------------
                                                     0              0
                                   ----------------------------------
Net Income(Loss)                             ($145,212)     ($306,577)
                                   ===================================


Net loss per share - basic and diluted          $0.003          $0.02

Weighted average number of
     shares outstanding                     55,853,128     13,100,000


See accompanying notes to financial statements`

GlobalNetCare , Inc.
dba BusinessWay International Corp
Consolidated Cash Flows Statement

For the Three Months Ended October 31, 2000
(Unaudited)

`October 31,          October 31,
                                                     2000                 1999

Cash provided by ( used in ) operating activities
     Net income ( loss)                          ($145,212)             ($306,577)
     Items not requiring cash outlay
        Amortization                                 8,490                  9,247

       sub-total                                  (136,722)              (297,330)

Changes in non-cash working capital items
       Accounts receivable                        (217,892)                     0
       Inventory                                    13,562                      0
       Prepaid Expenses                              2,520                   (123)
       Accounts Payable and accruals                32,644                 88,172
       Income Taxes Payable                          1,336                      0

       Funds generated  from operations           (304,552)              (209,281)

Cash provided by  ( used in ) financiang

       Advance from a director                      (4,229)               209,337
       Share capital                               668,896                      0
       Increase( decrease) long term debt           (1,975)                     0
       Due to shareholders                        (116,492)                     0

       Funds generated  from financing             546,200                209,337

Cash provided by  ( used in ) investments

       Acquisition of capital assets               (70,466)                14,500

       Funds (used in)generated from investments   (70,466)                14,500

Net change for the year                           $171,182                $14,556

Cash (deficiency) beginning of year               ($54,285)               $19,500

                                      -------------------------------------------
Cash end of year                                  $116,897                $34,056
                                      ===========================================`

See accompanying notes to financial statements

GlobalNetCare , Inc.
dba BusinessWay International Corp
Consolidated Statement of Changes in Stockholders' Equity
For the Three Months Ended October 31, 2000
(Unaudited)

`ADDITIONAL       OTHER                         TOTAL
                                         COMMON     STOCK      PAID IN          COMPREHENSIVE                 STOCKHOLDER
                                         SHARES     AMOUNT     CAPITAL          INCOME           DEFICIT      EQUITY



Balance, July 31, 2000                 15,853,128     $3,560    $2,914,014       ($3,165)       ($2,931,158)   ($13,749)

Common stock issued for acqusition
of Cor-Bit Perpherals Inc. and
BusinessWay Computer Center Inc.       40,000,000    668,910                                                    668,910

Translation adjustment                                                             3,043                          3,043

Net Loss for the period                                                                                        (145,212)

Balance, October 31, 2000              55,853,128   $672,470    $2,914,014         ($122)       ($3,076,370)   $512,992`

See accompanying notes to financial statements.

GLOBALNETCARE, INC.
Notes  to  Consolidated  Financial  Statements
Three-month  period ended October 31, 2000

1.        ORGANIZATION  AND  BUSINESS  ACTIVITIES:

The  Company  was organized on October 30, 1980, under the laws of the State of  Florida  as  C.N.W. Corp.  On
February 1, 1981, the
Company issued 1,000 shares of its $1 par value common stock for services of
$1,000. The Company did not have any activity before 1998 and, accordingly,
commencement of its development stage is considered to be at the beginning of
1998.

On  July  21,  1998, the Company increased its capitalization from 1,000 common shares  to  50,000,000  common
shares.  The  par  value  was changed from $1 to $0.001.

On  July 21, 1998, the Company changed its name to C.N.W of Orlando Inc., and on December  28,  1998 it changed
its name to GlobalNetCare, Inc.

On  February  3, 1998, the Company incorporated its wholly-owned subsidiary, 3423336 Canada Ltd., a Canadian
company, to develop a
medical Website. However, the anticipated plans and operations of the Company
for its medical Website have not and will not be achieved or pursued further.
Due to its inability to generate sufficient revenues from these operations, the
Company has decided to pursue a different line of business. The Corporation
continues to operate the medical Website on a scaled down basis.

With the completion of the acquisition of Corbit Perpherals Inc. and BusinessWay Computer Center Inc. on
September 12, 2000 (the "Acquistion"), the Company will no longer be considered a
development stage enterprise since Corbit Perpherals Inc. has a income stream
that has been established for many years.

As a result of the Share Exchange Agreement signed September 12,2000 (the Exchange Agreement), the Company
incorporated another wholly-owned subsidiary, 3739007 Canada Ltd., for the purpose of acquiring Cor-Bit
Perpherals Inc. and BusinessWay Computer Center Inc.  Under the Exchange Agreement, the Company acquired the
shares of Cor-Bit Perpherals Inc. and BusinessWay Computer Center Inc. in exchange of 40,000,000  exchangeable
Preferred  Shares (the "Preferred Shares" ) of 3739007 Canada Ltd. (which are exchangeable for the same number of
shares of the Companys common stock),  and 37,923,891 Class A Special Voting Shares in the capital of the
Company (the  "Special  Voting Shares").  The Special Voting Shares, which have no right to dividends and will be
outstanding only until the Preferred Shares are exchanged,  were issued to the principal owners of the acquired
companies.

The Company's financial statements are prepared using generally accepted accounting principles  applicable to a
going concern, which
contemplate the realization of assets and liquidation of liabilities in the
normal course of business. It is managements plan to seek additional
capital in connection with appropriate business opportunities including business
combinations.

The Company has changed its fiscal year-end to July 31 of each year. For this quarter the last fiscal year being
shown is that of December 31, 1999.  As well, figures for the comparative quarter October 1999 are being shown
for the statement of income and operations. The Company  intends to file audited financial statements for the
seven month period ending July 31, 2000.

2.        SHARE  CAPITAL:

During  the three-month  period  ended October 31,  2000,  the  Company did not issue any share capital.  It did
complete the Acquisition under the Exchange Agreement on September 12, 2000, as indicated above.

ITEM  2.        Management's  Discussion  and  Analysis  or  Plan of Operation.

This report contains certain "forward-looking statements."  Those statements appear in a number of places in this
report and include statements regarding the intent, belief or current expectations of the Company,
its directors and its officers with respect to, among other things; (i) trends
affecting the Companys financial condition or results of operations; (ii)
the Companys business and growth strategies; (iii) the use of the proceeds
to the Company from any stock offerings. Prospective investors are cautioned
that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties and that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors.

GENERAL

Prior to its acquisition of Cor-Bit Perpherals Inc. and BusinessWay Computer Center Inc. and currently, the
Company has offered health
and medical information via its information Website, GlobalNetCare.com (the
Medical Website). The Medical Website consists of several
Virtual Medical Centers that are designed to provide health care
professionals and people seeking information with an easy-to-use, interactive
experience intended to address their subjects of concern and to create
individual virtual medical records. Despite the efforts of the Companys
management, the Medical Website did not attract the number of users or
advertisers the Company anticipated and, accordingly, did not generate the
revenue required for its continued operation and maintenance. The Medical
Website has not been updated since October, 1999. The anticipated plans for the
operation of the Medical Website by the Company, as described in the
Companys Form 10-SB Registration Statement (as amended), have not and will
not be achieved or pursued further by the Company. The failure of the Medical
Website to meet its operational goals has caused the Company to seek to identify
a different line of business. The Company has now achieved a new operational
focus through the acquisition of Cor-Bit Perpherals Inc. and BusinessWay
Computer Center Inc.

SHARE  EXCHANGE  AGREEMENT  -  BUSINESSWAY  COMPUTER  CENTRE  INC.  AND  COR-BIT
PERIPHERALS  INC.

On  September 12, the Company acquired (the "Acquisition") all of the issued and outstanding shares of
BusinessWay Computer Centre Inc. ("BusinessWay") and Cor-Bit Peripherals Inc.,  ("Cor-Bit"), two private
companies that are incorporated under the laws of the province of Quebec.

The Acquisition was made under the terms of a Share Exchange Agreement, dated for reference June 30,2000  (the
Exchange Agreement), to which the Company, 3739007 Canada Ltd. (the Companys
wholly owned subsidiary), Cor-Bit, BusinessWay, Faris Heddo and Michele Scott
(the Majority Vendors), the shareholders of Cor-Bit (the
Cor-Bit Shareholders) and the shareholders of BusinessWay (the
BusinessWay Shareholders) are parties. Under the Share Exchange
Agreement, the Company caused 3739007 Canada Ltd. to issue 40,000,000
exchangeable Preferred Shares (the Preferred Shares) issued by
3739007 Canada Ltd. to the Cor-Bit Shareholders and the BusinessWay Shareholders
(collectively, the Vendors), as consideration for the exchange of
the Cor-Bit shares and the BusinessWay shares. The Company issued 37,923,891
Class A Special Voting Shares (the Special Voting Shares), to the
Majority Vendors and to the FONDACTION CSN Pour La Coopration et LEmploi,
in the course of a reorganization of the capital of Cor-Bit and BusinessWay, as
contemplated by section 85 of the Income Tax Act (Canada). Under the Exchange
Agreement and a Call Option Agreement (entered into by each one of the Vendors
and the Company), each of the Vendors granted an option to the Company to
acquire the Preferred Shares and the Special Voting Shares, if applicable, in
exchange for an equal number of common shares in the capital of the
Company.

Cor-Bit  is  a  manufacturer  of  computers, and has developed  internet  software  including  a new
business-to-business model,
data base search software, and an access-based inventory management software
link. Cor-Bit is the exclusive supplier of computers to BusinessWays
franchise operations. BusinessWay operates a Website,
www.businessway.com (the BusinessWay Website), which be
used as a multiple e-business site for the operations of Cor-Bit as well as to
market the Cor-Bit line of computers. The principals of BusinessWay will retain
BusinessWays franchise retail operations, as the retail operations of
BusinessWay were not included under the terms of the Acquisition.

The Company's primary source of revenue is now derived from the sales and distribution of its line of Cor-Bit
brand of personal computers. Sales are made on a wholesale level and include an preferred sales arrangement through the independent chain BusinessWay Computer Centres
(BusinessWay) franchised retail computer stores. The Company has an
arrangement with the BusinessWay retail chain franchiser to sell these
made-to-measure computer systems. The products sold by the BusinessWay retail
centres include the Cor-Bit line of custom computer systems, monitors, Storage
Devices, Printers and a wide range of peripherals.

In order to increase revenue and market share, the Company plans on to assist the independent  distribution chain
to attract independent
computer store owners to join the BusinessWay banner. This action is expected to
increase sales for the Company since it deals on a exclusive basis with this
distribution channel. The Company believes that it offers independent retail
stores a multitude of advantages, including lowering their cost base and
providing them with many proven sales concepts and product branding. The Company
supports its network of independent BusinessWay retail stores with its
established B2B (business to business) solution software that provides real-time
product procurement, and order tracking for a just-in-time delivery. The Company
is also seeking to grow its business through acquisitions, and joint ventures
with others in the industry.

The Company believes that it is distinguishable in the PC marketplace based on its unique purchasing system, high
product quality control,
customer service and technical support. The Company has agreements with service
affiliates who have over 22,000 service centers across North America . Servicing
for the Cor-Bit brand of personal computers is now available across North
America. The Company also provides a 1-800 technical support call center to
assist end-users as well as independent retailers on software and hardware
technical issues concerning the Cor-Bit line of personal computers.

In order to expand its distribution base, the Company is planning to increase its  investment  in an advertising
initiative to boost the
recognition of the BusinessWay brand name and products. The Company is
continuing to invest in the Research and Product Development to enhance its
present product line. The company believes that these initiatives should have a
positive impact on revenues in the remaining portion of fiscal year
2001.

The company will be continuing to seek out strategic alliances that will enable the Company to
generate increased sales
either by direct sales or through joint venture projects. Although it is too
early to predict actual sales volume level increases because of these alliances,
the Company hopes for significant increases. The Company estimates that each
independent retail store that joins the BusinessWay banner and distribution
network will increase the Companys revenues in the range of $500,000 to
$1.5 million per annum.

Business  Opportunities  Generally

Now that the acquisition of Cor-bit and BusinessWay is  complete, the Company will continue to
seek, investigate, and if
its investigations warrant, acquire, an interest in one or more other business
opportunities presented to it by persons or firms desiring the perceived
advantages of dealing with a publicly held corporation.

The Company may seek business combinations with firms that have only recently commenced operations, developing
companies in need of
additional funds to expand into new products or markets or seeking to develop a
new product or service, or established businesses that may be experiencing
financial or operating difficulties and need additional capital, which is
perceived to be easier to raise through a public company. In some instances, a
business opportunity may involve acquiring or merging with a corporation which
does not need substantial additional cash but which desires to establish a
public trading market for its common stock. The Company may purchase assets and
establish wholly-owned subsidiaries in various businesses or purchase existing
businesses as subsidiaries.

Selecting  a business opportunity will be complex and extremely risky.  Because of general economic conditions,
rapid technological
advances being made in some industries, and shortages of available capital,
management believes that there are numerous firms seeking the benefits of
alliance with a publicly-traded corporation. Such perceived benefits of a
publicly traded corporation may include:

| | -- | facilitating  or  improving
the terms on which additional equity financing may  be  sought;      
| | -- | -------------------------------------------------------------------------------------------------
| | -- | providing liquidity for the principals of a business;                                            
| | -- | creating a means for
providing incentive stock options or similar benefits to  key  employees; or
| | -- | providing liquidity
(subject to restrictions of applicable statutes) for all  shareholders.      

Management  believes  that  the  Company  may be able to benefit from the use of "leverage"  to  acquire target
companies. Leveraging a
transaction involves acquiring a business while incurring significant
indebtedness for a large percentage of the purchase price of that business.
Through leveraged transactions, the Company would be required to use less of its
available funds to acquire a target company and, therefore, could commit those
funds to the operations of the business, to combinations with other target
companies, or to other activities. The borrowing involved in a leveraged
transaction is ordinarily secured by the assets of the acquired business. If
that business is not able to generate sufficient revenues to make payments on
the debt incurred by the Company to acquire that business, the lender would be
able to exercise the remedies provided by law or by contract. These leveraging
techniques, while reducing the amount of funds that the Company must commit to
acquire a business, may correspondingly increase the risk of loss to the
Company.

No assurance can be given as to the terms or availability of financing for any acquisition  of  a  business
opportunity or business
combination by the Company. During periods when interest rates are relatively
high, the benefits of leveraging are not as great as during periods of lower
interest rates, because the investment in the business held on a leveraged basis
will only be profitable if it generates sufficient revenues to cover the related
debt and other costs of the financing. Lenders from which the Company may obtain
funds for purposes of a leveraged buy-out may impose restrictions on the future
borrowing, distribution, and operating policies of the Company. It is not
possible at this time to predict the restrictions, if any, which lenders may
impose, or the impact thereof on the Company.

As evidenced in this quarter's results of the  Company , there exist  significant post-merger or  acquisition
costs related to an
acquisition. The Company has incurred significant legal and accounting costs in
connection with the Acquisition, including the costs of preparing post-effective
amendments, Form 8-Ks, agreements, and related reports and documents.
Nevertheless, the officers and directors of the Company have not conducted
market research and are not aware of statistical data which would support the
perceived benefits of a merger or acquisition transaction for the owners of an
acquired business.

The Company will not restrict its search for any specific kind of firms, but may acquire  a  venture  which  is
in its preliminary or
development stage, which is already in operation, or in essentially any stage of
its corporate life. It is impossible to predict at this time the status of any
business in which the Company may become engaged, in that such business may need
to seek additional capital, may desire to have its common shares publicly
traded, or may seek other perceived advantages which the Company may offer.
However, the Company does not intend to obtain funds in one or more private
placements to finance the operation of any acquired business opportunity until
such time as the Company has successfully consummated the merger or
acquisition.

Sources  of  Opportunities

As mentioned , the Company will seek new  business opportunities from known sources, but will rely principally
on  personal  contacts  of  its  officers  and  directors,  as  well as indirect
associations between them
and other business and professional people. It is not presently anticipated that
the Company will engage professional firms specializing in business acquisitions
or reorganizations. Management may not be especially experienced in matters
relating to the new business of the acquired companies, and will therefore rely
upon their own efforts and, to a much lesser extent, the efforts of the
Companys shareholders, in accomplishing the business purposes of the
Company. It is not anticipated that any outside consultants or advisors, other
than the Companys legal counsel and accountants, will be utilized by the
Company to effect the business purposes described in this Quarterly Report.
However, if the Company does retain such an outside consultant or advisor, any
cash fee earned by such party will need to be paid by the prospective
merger/acquisition candidate, as the Company has no cash assets with which to
pay such an obligation. As is customary in the industry, the Company may pay a
finders fee for the location of an appropriate business opportunity or
business combination. If any such fee is paid, it will be approved by the
Companys Board of Directors and will be in accordance with the industry
standards. Such fees are customarily between 1% and 5% of the size of the
transaction, based upon a sliding scale of the amount involved. Such fees are
typically in the range of 5% on a $1,000,000 transaction rateably down to 1% in
a $4,000,000 transaction. Management has adopted a policy that such a
finders fees could, in certain circumstances, be paid to any employee,
officer, director or 5% shareholder of the Company, if such person plays a
material role in bringing a transaction to the Company.

The  Company has ongoing needs to develop and  market its present products and any new  products which may be
acquired through the
acquisition of a business opportunity or business combination. Accordingly, if
the Company acquires the rights to a product, rather than entering into a merger
or acquisition, it would most likely need to seek debt or equity financing or
obtain funding from third parties. There is no assurance that the Company will
be able either to obtain additional financing or to interest third parties in
providing funding for the further development, marketing and manufacturing of
any products acquired.

Evaluation  of  Opportunities

The  analysis of any other new business opportunity will be undertaken by or under the supervision of the
officers and directors of
the Company. Management intends to concentrate on identifying prospective
business opportunities which may be brought to its attention through present
associations with management. In analyzing prospective business opportunities,
management will consider, among other factors, such matters as:

| | -- | the  available  technical,  financial  and  managerial  resources;                                                                             
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------
| | -- | working  capital  and  other  financial  requirements;                                                                                         
| | -- | history  of  operation,  if  any;                                                                                                              
| | -- | prospects  for  the  future;                                                                                                                   
| | -- | present  and  expected  competition;                                                                                                           
| | -- | the  quality  and experience of management
services which may be available and  the  depth  of  that  management;                              
| | -- | the  potential  for  further  research,  development  or  exploration;                                                                         
| | -- | specific  risk  factors  not  now  foreseeable  but  which  then  may  be
anticipated  to  impact  the  proposed  activities  of  the  Company;
| | -- | the  potential  for  growth  or  expansion;                                                                                                    
| | -- | the  potential  for  profit;                                                                                                                   
| | -- | the  perceived  public
recognition or acceptance of products, services or trades;  and                                                         
| | -- | name  identification.                                                                                                                          

Management  will  meet  personally  with the management and key personnel of the firm sponsoring the business
opportunity as part of
their investigation. To the extent possible, the Company intends to utilize
written reports and personal investigation to evaluate the above factors. The
Company will not acquire or merge with any company for which verifiable
information is not available including, where required , audited financial
statements cannot be obtained.

Opportunities  in  which the Company may participate will present certain risks, many  of  which  cannot  be
identified adequately prior
to selecting a specific opportunity. The Companys shareholders must,
therefore, depend on management to identify and evaluate such risks. Promoters
of some opportunities may have been unable to develop a going concern or may
present a business in its development stage (in that it has not generated
significant revenues from its principal business activities prior to the
Companys participation). Even after the Companys participation,
there is a risk that the combined enterprise may not become a going concern or
advance beyond the development stage. Other opportunities may involve new and
untested products, processes, or market strategies which may not succeed. Such
risks will be assumed by the Company and, therefore, its shareholders.

Acquisition  of  Opportunities

In  implementing  a structure for the Company's future  business acquisition, the Company
may  become  a  party to a merger, consolidation, reorganization, joint venture, franchise,  or  licensing
agreement with another corporation or entity.  It may also  purchase  stock  or assets of an existing business.

It  is  anticipated  that  securities issued in any such reorganization would be issued  in reliance on
exemptions from
registration under applicable federal and state securities laws. In some
circumstances, however, as a negotiated element of this transaction, the Company
may agree to register such securities either at the time the transaction is
consummated, under certain conditions, or at a specified time thereafter. The
issuance of substantial additional securities and their potential sale into any
trading market which may develop in the Companys common shares may have a
depressive effect on such market.

As  part  of  the Company's investigation, officers and directors of the Company
may:

| | -- | meet  personally  with  management  and  key  personnel;                                                                                        
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------
| | -- | visit  and  inspect  material  facilities;                                                                                                      
| | -- | obtain  independent  analysis  or  verification  of  certain  information
provided;                                                             
| | -- | check  references  of  management  and  key  personnel,  and                                                                                    
| | -- | take  other  reasonable  investigative  measures,  to  the  extent  of the
Company's  limited  financial  resources  and  management  expertise.

The  manner  in  which  the Company participates in an opportunity with a target company  will  depend on the
nature of the opportunity,
the respective needs and desires of the Company and other parties, the
management of the opportunity, and the relative negotiating strength of the
Company and such other management. With respect to any mergers or acquisitions,
negotiations with target company management will be expected to focus on the
percentage of the Company which the target companys shareholders would
acquire in exchange for their shareholdings in the target company. Depending
upon, among other things, the target companys assets and liabilities, the
Companys shareholders will, in all likelihood, hold a lesser percentage
ownership interest in the Company following any merger or acquisition. The
percentage ownership may be subject to significant reduction in the event the
Company acquires a target company with substantial assets. Any merger or
acquisition effected by the Company can be expected to have a significant
dilutive effect on the percentage of shares held by the Companys then
shareholders.

Cash  Requirements

With the Company's  completion of the Acquisition, it will require funds  in  the  amount of $750,000 through
July 31, 2001( end of
fiscal year), which additional funds would likely be raised through a Private
Placement.

Product  Research  and  Development

With the  Acquisition being complete, the Company is  now able to better determine the  product  research  and
development  that  it will perform over the 12 months
ending October  31,  2001. The Company will now increased its involvement in specialized software development for
users of the "Business to Business" software.

Purchases  or  Sales  (Equipment)

As the Company has recently upgraded its equipment ,  it will not purchase or sell any
significant  equipment  over  the  12  months  ending October  31,  2001.

Changes  in  Employees

With the completion of the Acquisition, the Company has  assumed   all of the employees of both BusinessWay and
Cor-bit.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report
to be signed by the undersigned, thereunto duly authorized.

|                     | GLOBALNETCARE, INC.                                                                                             
|-------------------- | ----------------------------------------------------------------------------------------------------------------
|Dated: March 1, 2001 | By:/s/ Michele Scott
Michele ScottVice President, Chief Operating Officer and Secretary(chief financial officer)

FINANCIAL DATA SCHEDULE