SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

/X/  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

                  FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2000

/ /  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
     EXCHANGE ACT OF 1934



                        Commission File Number: 00-19813

                               InfoNow Corporation
             (Exact name of registrant as specified in its charter)


Delaware                                                              04-3083360
--------                                                              ----------
(State of incorporation)                    (I.R.S. Employer Identification No.)

            1875 Lawrence Street, Suite 1100, Denver, Colorado, 80202
            ---------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

                                  303-293-0212
                                  ------------
              (Registrant's telephone number, including area code)

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.

                                 [X] Yes [ ] No

As of April 30, 2000, there were 8,093,757 shares of the Registrant's common
stock outstanding.

<PAGE>


                               INFONOW CORPORATION

                                      INDEX

                                                                        Page No.
                                                                        --------
                         PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

        Unaudited Balance Sheets - March 31, 2000
          and December 31, 1999..............................................3

        Unaudited Statements of Operations - For the Three Months
          Ended March 31, 2000 and March 31, 1999............................4

        Unaudited Statement of Stockholders Equity (Deficit) - For the
          Three Months Ended March 31, 2000..................................5

        Unaudited Statements of Cash Flows - For the Three Months
          Ended March 31, 2000 and March 31, 1999............................6

        Notes to Unaudited Financial Statements..............................7


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
          AND RESULTS OF OPERATIONS..........................................8


                           PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS...................................................13
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K....................................13

        SIGNATURES..........................................................14




                                        2
<PAGE>
<TABLE>
<CAPTION>


                              PART I - FINANCIAL INFORMATION
                              ------------------------------

ITEM 1. FINANCIAL STATEMENTS

                                    INFONOW CORPORATION
                                      BALANCE SHEETS
                                 (US Dollars in Thousands)

                                                     March 31, 2000      December 31, 1999
                                                     --------------      -----------------
                                                        (Unaudited)
CURRENT ASSETS:
<S>                                                        <C>                    <C>
Cash and cash equivalents                                  $  9,395               $  5,356
Restricted cash                                                  76                     76
Accounts receivable, net                                        819                    867
Prepaids and other current assets                               125                     88
                                                           --------               --------
         Total current assets                                10,415                  6,387

Property and equipment, net                                   1,251                  1,062

Other assets and deferred charges                                33                     30
                                                           --------               --------
         Total assets                                      $ 11,699               $  7,479
                                                           ========               ========

CURRENT LIABILITIES:
Notes Payable - current portion                            $     62               $     81
Accounts payable and accrued expenses                         1,493                  1,172
Unearned revenue and prepaid service fees                       419                    462
                                                           --------               --------
         Total current liabilities                            1,974                  1,715

NOTES PAYABLE, net of current portion                            24                     38

STOCKHOLDERS' EQUITY
Preferred stock, $.001 par value; 1,962,335 shares
   authorized, 250,000 shares issued and outstanding at
   March 31, 2000 and December 31, 1999 of Series B
   Convertible Preferred Stock (liquidation preference
   of $5,000,000)                                              --                     --

Common stock, $.001 par value; 15,000,000 shares
   authorized, 7,803,443 and 7,189,183 shares issued
   and outstanding at March 31, 2000 and
   December 31, 1999 respectively                                 8                      7

Additional paid-in capital                                   33,159                 28,440
Accumulated deficit                                         (23,466)               (22,721)
                                                           --------               --------
         Total stockholders' equity                           9,701                  5,726
                                                           --------               --------
Total liabilities and stockholders' equity                 $ 11,699               $  7,479
                                                           ========               ========


        The accompanying notes are an integral part of these financial statements

                                           3
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<PAGE>


                               INFONOW CORPORATION
                            STATEMENTS OF OPERATIONS
                                   (UNAUDITED)
                    (In thousands, except per share amounts)


                                                    Three Months Ended March 31
                                                    ---------------------------
                                                          2000             1999
                                                          ----             ----

REVENUES                                           $     1,805      $     1,104
Cost of revenues                                         1,049              547
                                                   -----------      -----------

         Gross profit                                      756              557

OPERATING EXPENSES:
Selling and marketing                                      990              381
Product development                                        248               42
General and administrative                                 321              242
                                                   -----------      -----------

         Total operating expenses                        1,559              665
                                                   -----------      -----------

Operating loss                                            (803)            (108)

OTHER INCOME:
Interest income, net                                        58               11
Other non-operating income                                   0               15
                                                   -----------      -----------
                                                            58               26

NET LOSS                                           $      (745)     $       (82)
                                                   ===========      ===========


Basic and diluted EPS per common share             $      (.10)     $      (.01)

BASIC AND DILUTED WEIGHTED AVERAGE
COMMON SHARES OUTSTANDING                            7,632,518        6,894,728
                                                   ===========      ===========


    The accompanying notes are an integral part of these financial statements

                                        4

<PAGE>
<TABLE>
<CAPTION>


                                              INFONOW CORPORATION
                                   STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)
                                                  (UNAUDITED)
                                    For the three months ended March 31, 2000
                               (In thousands, except share and per share amounts)


                                             Preferred       Shares     Common     Shares     Additional    Accumulated
                                                Shares       Amount     Shares     Amount   Paid-In-Capital   Deficit
                                                ------       ------     ------     ------   ---------------   -------
<S>                                             <C>           <C>     <C>         <C>         <C>           <C>
BALANCES, December 31, 1999                     250,000        --     7,189,183   $       7   $  28,440     $ (22,721)

Common shares issued at $9.50 per share for
cash on March 30, 2000 private placement,
net of cash financing costs of $349                --          --       526,316           1       4,650          --

Common shares issued upon exercise of
warrants and options at prices ranging from
$0.97 to $5.41 per share                           --          --        87,944        --            69          --

Net Loss                                           --          --          --          --          --            (745)
                                              ---------   ---------   ---------   ---------   ---------     ---------

BALANCES, March 31, 2000                        250,000        --     7,803,443   $       8   $  33,159     $ (23,466)
                                              =========   =========   =========   =========   =========     =========




               The accompanying notes are an integral part of these financial statements

                                                 5
</TABLE>
<PAGE>

                               INFONOW CORPORATION
                            STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
                            (US Dollars in Thousands)


                                                     Three Months Ended March 31
                                                     ---------------------------
                                                            2000       1999
                                                            ----       ----
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                                 $  (745)   $   (82)
Adjustments to reconcile net loss to net cash used in
operating activities:
     Depreciation and amortization                           165        124
     Changes in operating assets and liabilities:
     Accounts receivable                                      48        (98)
     Other assets and deferred charges                       (40)       (26)
     Other current assets                                   --            4
     Payables and accrued liabilities                        321         54
     Unearned revenue and prepaid service fees               (43)       298
                                                         -------    -------
Net cash provided by (used in) operating activities         (294)       274

CASH FLOWS USED IN INVESTING ACTIVITIES:
     Purchase of property and equipment                     (354)      (157)

CASH FLOWS FROM FINANCING ACTIVITIES:
     Net proceeds from issuance of common stock            4,651       --
     Proceeds from the exercise of options and warrants       69        119
     Principal payment on debt obligations                   (33)       (23)
                                                         -------    -------
Net cash flows provided by financing activities            4,687         96

Net increase in cash and cash equivalents                  4,039        213

CASH AND CASH EQUIVALENTS, beginning of period             5,356      1,303
                                                         -------    -------

CASH AND CASH EQUIVALENTS, end of period                 $ 9,395    $ 1,516
                                                         =======    =======

Supplemental Information:
  Cash paid during the period for interest               $     2    $    10



    The accompanying notes are an integral part of these financial statements

                                        6
<PAGE>

                               INFONOW CORPORATION
                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     The financial statements are unaudited and reflect all adjustments
(consisting only of normal recurring adjustments) which are, in the opinion of
management, necessary for a fair presentation of the financial position and
operating results for the interim periods.

     The financial statements as of December 31, 1999, have been derived from
audited financial statements. The financial statements should be read in
conjunction with the financial statements and accompanying notes contained in
InfoNow's Form 10-KSB for the fiscal year ended December 31, 1999. The results
of operations for the three months ended March 31, 2000 are not necessarily
indicative of the results that will be achieved for the entire fiscal year
ending December 31, 2000.


Note 2. EQUITY TRANSACTIONS

     On March 30, 2000 InfoNow sold 526,316 shares of common stock in a private
placement to Putnam Information Sciences Trust, NR Ventures, Ltd., and RIT
Capital Partners, PLC. Putnam purchased 105,263 shares of common stock, and NR
Ventures and RIT Capital Partners collectively purchased 421,053 shares of
common stock. The private placement resulted in gross proceeds of $5,000,000, or
$9.50 per share. Net cash proceeds of $4,651,000 were realized after a deduction
of $349,000 of issuance costs.

     On January 28, 2000, we issued 47,500 shares of common stock in conjunction
with a cash-less exercise of warrants issued to Environmental Systems Research
Institute, Inc., as a settlement of a contract dispute. The remaining warrants
not exercised were canceled as a result of the settlement. The value of the
warrants, $164,000, was capitalized in April 1996 as software development cost
and subsequently amortized over 2 years.

     During the first Quarter of 2000, we issued 40,444 shares of common stock
as a result of the exercise of options and warrants by employees. The per-share
price range of $0.97 to $5.41 which resulted in gross proceeds of $69,000.



                                       7
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS

     The following discussion and analysis of the financial condition and
results of operations for InfoNow should be read in conjunction with our
financial statements and related notes appearing elsewhere in this report. This
discussion contains statements that are not historical fact. These
forward-looking statements are based on our current expectations, assumptions,
estimates and projections about our industry and our business including
statements about markets for our services, planned development of products and
anticipated expense and revenue levels. These forward-looking statements contain
words such as "anticipate", "believe", "plan", "expect" or similar language.
These forward-looking statements are subject to business and economic risks. Our
actual results could differ materially from those anticipated in such
forward-looking statements as a result of many factors including those set forth
in this discussion and in documents we have filed with the Securities and
Exchange Commission, including our annual report on Form 10-KSB.

General Information and Overview

     InfoNow provides business-to-business e-commerce solutions that enable
channel dependent companies to solve channel conflict by enabling manufacturers
to sell online through their existing channels and channel partners. A recent
Forrester Research survey identified conflict with existing sales channels as
the single biggest obstacle keeping manufacturers from selling online. InfoNow's
iChannel suite of eBusiness services resolve channel conflict and maximize sales
success by providing referrals, leads, e-commerce and customer relationship
management (CRM) capabilities to the channel partners best aligned to close the
sale. Channel partners for our clients can include their product dealers,
distributors, value-added resellers and agents. We provide these services to our
clients over the Internet or via secure, private extranets and intranets. Our
server centers house proprietary software, databases, and systems that respond
to inquiries received across a client's enterprise, including Internet sites,
interactive voice response systems and call centers.

     As of March 31, 2000, we had 53 clients. Most of our clients are large
multinational companies who have extensive branch or reseller networks. Our
clients include American Airlines, Apple, Bank of America, Citibank, Citicorp
Diners Club, Compaq, 3Com, FedEx, First Union, Hewlett Packard, IBM, Intel,
Lucent, Maytag, Motorola, Novell, Red Hat, Sony, United Health Care, UPS, Visa
and Vision Service Plan.

     Our services are sold on the basis of multi-year service contracts. The
initial term of these contracts are one to three years and are renewable upon
mutual agreement of InfoNow and the client. A typical contract fee includes two
components, a setup fee and a recurring service fee. The setup fee covers the
initial development of a customized, client-specific access to our service, and
the design and implementation of client databases. The recurring monthly service
fee covers hosting of the service and performance of recurring maintenance to
the client databases and core applications. In the third quarter, we plan to
launch our iCommerce product line. We expect that our fees will be based on a
percentage of the transactions conducted via our services that we have called
success fees.

     Currently, the combined fees for the initial year of service typically
range from $45,000 for a simple installation to greater than $750,000 for a
complex application involving multiple services across several customer "touch
points" and geographies. These ranges exclude revenue sharing fees, which would
be based on a percentage of the transaction value flowing through our iChannel
eCommerce services. The actual setup and monthly service fees are determined
based on a variety of factors, including the type(s) of service selected, the
number of client locations supported, anticipated transaction volumes,
geographic coverage of the service and the level of service customization
requested by the client. We also may charge transaction fees for some elements
of our services depending upon the specific client configuration such as fax
transactions, voice recordings and dedicated telecommunication lines. Our
services are modular and all, or a portion of the services can be selected
depending on client requirements.

                                       8
<PAGE>

     We recognize revenues from setup fees for implementation of our services on
the percentage of completion method using project milestones. Monthly service
fees are recognized as services are rendered over the term of the contract. We
market our services through our direct sales force.

     Our success in maintaining profitability is primarily dependent on market
acceptance and future sales of our services to additional customers to offset
operating costs. Although we have experienced a significant percentage revenue
growth and a reduction in operating losses in recent periods, these growth
rates, or improvement in operating results, will not be sustainable with our
current business plan and may not be indicative of future performance. We have
significantly increased our spending in sales, marketing and product development
in order to increase our market presence and broaden our product offerings,
which we expect to generate operating losses during the year ending December 31,
2000. In addition, we plan to make significant expenditures on capital equipment
and licensed software to implement and deploy our new iChannel services.

     Our limited operating history makes it difficult or impossible to predict
our revenues and operating results. We believe that our prospects should be
considered in light of the risks and difficulties encountered by companies at an
early stage of development. We may not be successful in addressing these risks
and difficulties.

Results of Operations

     Comparison of the Three Months Ended March 31, 2000 to the Three Months
Ended March 31, 1999

     Net Revenues. Our revenues consist primarily of setup fees from new
contracts and monthly service fees from ongoing contracts for our services.
Total revenues increased by $701,000, or 63% for the three months ended March
31, 2000, compared to the same period in the previous year. The increased
revenues were generated by additional contracts sold and implemented during the
last twelve months. Setup fees increased by 3%, from $356,000 to $367,000.
Service Fees increased by 115%, from $643,000 to $1,381,000. The higher fees
were due to the implementation of new contracts and higher average monthly
service fees per contract. Miscellaneous revenues decreased by 46%, from
$105,000 to $57,000. The lower fees were due to a decrease in the number of
contracts with charges for voice recordings, faxes, geocoding and
telecommunications.

     Cost of Revenues. The cost of revenues increased from 50% of revenues for
the three-month period ended March 31, 1999, to 58% of revenues for the
three-month period ended March 31, 2000. The total cost of revenues over the
same period increased by 92% or $502,000. This increase is a result of increased
costs in creating and expanding an infrastructure for delivering our services.
These costs include technical personnel payroll, recruiting fees, data
royalties, depreciation and amortization for server equipment and capitalized
software development, telecommunications and other costs related to operating
our data center. Gross margins are expected to increase as we build our
infrastructure to serve our existing clients as well as anticipated iCommerce
services.

     Product Development. Product Development expenses consist of time spent on
development not specifically associated with a client contract. To date, product
development costs have been comprised of subcontracted costs and salaries and
related costs. A majority of product development expenses have been incurred in
conjunction with delivery of our services to customers and are classified in the
cost of revenues. Total product development costs increase from $42,000 to
$248,000 from the three month period ended March 31, 1999 compared to the three
month period ended March 31, 2000. This increase is a result of increased
salaries, contract labor and consulting costs, and personnel support costs. We
plan to accelerate spending on project development, not directly associated with
specific customer contracts, with proceeds received from the financing completed
in December 1999 and March 2000.

     Selling and Marketing Expenses. Selling and marketing expenses, which
consist of payroll costs, sales commissions, travel and promotion expenses
increased from 35% of revenues for the three-month period ended March 31, 1999,
to 55% of revenues for the three-month period ended March 31, 2000. The total
amount of selling and marketing expenses increased by 160%, or $609,000. The
overall increase is primarily the result of the addition of sales personnel,
marketing and promotion costs, recruiting, contract labor and consulting, and
depreciation during the last twelve months. We plan to increase spending on
selling and marketing activities with proceeds received from financing,
completed in December 1999 and March 2000.

                                       9
<PAGE>

     General and Administrative Expenses. General and administrative expenses
consist primarily of payroll costs for InfoNow's executive, accounting and
administrative personnel, facilities costs, insurance and other general
corporate expenses. General and administrative expenses decreased from 22% of
revenues for the three-month period ended March 31, 1999, to 18% of sales for
the three-month period ended March 31, 2000. The total amount of general and
administrative expenses increased by 33%, or $79,000. The overall increase is
the result of additional administrative costs, such as increased salaries, rent,
legal fees, and business insurance, related to growth in business activity.

     Provision for Income Taxes. InfoNow has paid no income taxes since its
inception and has not recorded a provision for income taxes. We believe that tax
liabilities for future years will initially be offset against tax loss
caryforwards, which expire beginning in 2010, estimated at $4,997,000, as of
December 31, 1999.

     Non-Operating Income (Expense). Net non-operating income was $58,000 for
the three months ended March 31, 2000 compared to $26,000 for the three months
ended March 31, 1999. The increase is due to additional interest income on cash
and cash equivalents. Cash and cash equivalents increased from $9,395,000 at
March 31, 2000 compared to $1,516,000 at March 31, 1999. The interest rate
increased from 4.25% in March 1999 to 5.25% in March 2000. $5,000,000 of
financing proceeds were deposited on December 31, 1999 and an additional
$5,000,000 of financing proceeds were deposited on March 31, 2000.

     Net Loss from Continuing Operations. The net loss for the period ended
March 31, 2000 was $745,000 compared to $82,000 for the period ended March 31,
1999, a $663,000 increase. This increase is due to increased operating expenses
without corresponding increases in revenues.

Liquidity and Capital Resources

     InfoNow has financed its operations through private placement of equity
securities and through borrowing arrangements. We have received a total of
approximately $14,815,000 from private offerings and an additional $2,037,000
from the exercise of stock options and warrants since we began marketing our
eCommerce channel management services in 1996.

     We had cash and equivalents of $9,395,000 at March 31, 2000, compared to
$5,356,000 at December 31, 1999, a net increase of $4,039,000. The increase was
primarily due to net proceeds of $4,651,000 on March 30, 2000 from the issuance
of common stock in a private placement with Putnam Information Sciences Trust,
NR Ventures, Ltd., and RIT Capital Partners, PLC. In addition, we received
proceeds of $69,000 from the exercise of stock options and warrants during the
quarter.

     Net cash used for operating activities during the three months ended March
31, 2000 was $294,000, compared to net cash provided from operating activities
of $274,000 during the three months ended March 31, 1999. This decrease is
primarily due to an increase in net loss related to an increase in accounts
payable, a decrease in accounts receivable, and an increase in depreciation.

     Cash used in investment activities increased $197,000 from $157,000 for the
three-month period ended March 31, 2000 compared to the three-month period ended
March 31, 1999. This increase is related to the purchase of computer hardware
and software for our data centers and additional personnel, as well as for
leasehold improvements.

     Net cash generated from financing activities during the three months ended
March 31, 2000 was $4,687,000 that included $5,000,000 of cash received from
issuance of common stock and $69,000 from the exercise of stock options and
warrants. There were $349,000 of costs incurred related to the common stock
issuance.

     We intend to use the proceeds received from the March 31, 2000 funding of
$5,000,000 in the following areas:

                                       10
<PAGE>

     o    Increase product development expenditures

     o    Hire additional sales personnel

     o    Increase marketing expenditures; specifically hire additional
          marketing personnel and increase marketing programs

     o    Increase operational and administrative personnel to handle
          anticipated increases in our business and further increases of our
          infrastructure

     We currently project that available cash balances, together with projected
cash flow from recurring service fees and anticipated new sales, will be
sufficient to fund our operations for at least the next twelve months. These
projections assume that revenues from new sales and from recurring service fees
will continue to provide cash from its operations and that our overall operating
costs stay within budgeted levels and will not change significantly as new
client contracts are added.

     We expect that our anticipated revenue growth during the next several
quarters will offset increases in operating costs before the end of our fiscal
year 2001.

     We are currently seeking additional equity financing to accelerate planned
investments in sales and marketing, product development and to increase general
working capital and license additional intellectual property.

     In December 1999, the Securities and Exchange Commission issued Staff
Accounting Bulletin No.101 "Revenue Recognition in Financial Statements" (SAB
101). SAB 101 provides guidance on the recognition, presentation, and disclosure
of revenue in financial statements of all public registrants. InfoNow has not
fully assessed the impact of the adoption of SAB 101, and have not yet
determined if implementation of SAB 101 will have a material impact on the
existing revenue recognition policies or its reported results of operations for
the year ending December 31, 2000.

Risks of Forward Looking Statements

     Our actual results may vary materially from the forward-looking statements
made above. We intend that such statements be subject to the safe harbor
provision of the Securities Act. Our forward-looking statements include the
plans and objectives of management for future operations and relate to a variety
of factors, including management's assumptions about our ability to:

     -    Gain market acceptance of our services

     -    Accurately forecast and meet demands for our services, including our
          ability to maintain technical performance of the system as new clients
          are added

     -    Maintain our ability to serve our existing customers

     -    Improve our operational and financial systems in order to address
          planned growth in our operations

     -    Maintain pricing and adequate profit margins on our products and
          services

     -    Retain and attract qualified technical personnel

     -    Develop future enhancements to our services and control development
          costs of those enhancements

     -    Respond to competitive threats

     -    Raise additional capital, if needed.


                                       11
<PAGE>


     Our assumptions are based on judgments with respect to, among other things,
future economic, competitive and market conditions, and future business
decisions, all of which are difficult or impossible to predict accurately and
many of which are beyond our ability to control.

     We believe that the assumptions underlying our forward-looking statements
are reasonable. However, our assumptions may prove to be inaccurate and
therefore there can be no assurance that the results contemplated in
forward-looking statements will be realized. You should not regard any
statements made in this Report as a representation by InfoNow or any other
person that we will achieve our objectives.














                                       12
<PAGE>

                           PART II. OTHER INFORMATION
                           --------------------------


ITEM 1. LEGAL PROCEEDINGS

     In February 2000, InfoNow entered into a settlement agreement regarding a
disputed payable with a vendor. The vendor released its claim of $150,000
against us and agreed to provide us with certain software. We issued 47,500
shares of common stock in accordance with the exercise provision of outstanding
warrants held by the vendor. The remaining shares exercisable with these
warrants were canceled.


ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibits

          Included as exhibits are the items listed on the Exhibit Index. The
          Registrant will furnish a copy of any of the exhibits listed upon
          payment of $5.00 per exhibit to cover the costs to the Registrant of
          furnishing such exhibit.

     (b)  Reports on Form 8-K

          A Form 8-K Current Report was filed on May 2, 2000 under Item 5 Other
          Events. The Form 8-K was filed in conjunction with the private
          offering of 526,316 common shares to Putnam Information Sciences
          Trust, NR Ventures, Ltd., and RIT Capital Partners, PLC on March 30,
          2000.





                                       13
<PAGE>


                                   SIGNATURES

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

   Dated: May 11, 2000

                                INFONOW CORPORATION

                                (Registrant)



                                /s/ Michael W. Johnson
                                ----------------------
                                Michael W. Johnson
                                Chairman, Chief Executive Officer and President
                                (Principal Executive Officer)


                                /s/ Kevin D. Andrew
                                -------------------
                                Kevin D. Andrew
                                Chief Financial Officer, Treasurer and Secretary
                                (Principal Financial and Accounting Officer)







                                       14
<PAGE>


                                  EXHIBIT INDEX


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

3.1         Certificate of Incorporation of the Company, as amended (A)
3.1.1       Certificate of Designation, Preferences and Rights of Series B
            Convertible Participating Preferred Stock of InfoNow Corporation (B)
3.2         Bylaws of the Company, as amended (C)
4.1         Form of Common Stock certificate for the Company's Common Stock,
            $.001 par value per share (C)
4.4         Form of Class C Warrant (D)
4.5         Form of Series B Convertible Preferred Stock Certificate (B)
10.14       InfoNow 1990 Stock Option Plan, as amended and restated January 23,
            1998 (E)
10.15       InfoNow 1999 Stock Option Plan (F)
10.29       Employment Agreement between the Company and W. Brad Browning dated
            January 9, 1996 (G)
10.30       Employment Agreement between the Company and Kevin D. Andrew dated
            March 1, 1996 (G)
10.36       Employment Agreement between the Company and Michael W. Johnson
            dated January 1, 1998 (H)
10.37       Agreement dated October 23, 1997 between the Company and Michael W.
            Johnson regarding sale of the Company (H)
10.38       Letter Agreement between the Company and Michael Basch dated
            September 21, 1998 (A)
10.40       Office Lease between Crescent Real Estate Equities Limited
            Partnership and InfoNow Corporation dated March 2, 1999 (B)
27.1        Financial Data Schedule

-------------------------------------------------

(A)         Incorporated by reference from the Company's Annual Report filed on
            Form 10-KSB for the year ended December 31, 1998.
(B)         Incorporated by reference from the Company's Annual Report filed on
            Form 10-KSB for the year ended December 31, 1999.
(C)         Incorporated by reference from the Company's Registration Statement
            33-43035 on Form S-1 dated February 14, 1992.
(D)         Incorporated by reference from the Company's to the Post-Effective
            Amendment No. 2 to Registration Statement No. 33-43035 on Form S-1
            dated July 13, 1993.
(E)         Incorporated by reference from the Company's Proxy Statement filed
            on Form 14A for the year ended December 31, 1999.
(F)         Incorporated by reference from the Company's Proxy Statement filed
            on Form 14A for the year ended December 31, 2000.
(G)         Incorporated by reference from the Company's Annual Report filed on
            Form 10-K for the year ended December 31, 1995.
(H)         Incorporated by reference from the Company's report on Form 8-K
            dated January 27, 1997.


                                       15