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

                                   FORM 10-QSB

[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF
    1934

                For the quarterly period ended February 29, 2004

                                       OR

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

            For the transition period from            to
                                           -----------   ------------

                        Commission File Number: 333-64244


                             THE MACREPORT.NET, INC.
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)

           Delaware                                               11-3584538
 ------------------------------                               -----------------
(State or other jurisdiction of                              (I.R.S. Employer
 incorporation or organization)                              Identification No.)

                              200 Broadhollow Road
                                    Suite 207
                               Melville, NY 11747
           -----------------------------------------------------------
          (Address, including zip code, of principal executive offices)

                                 (631) 393-5075
               --------------------------------------------------
              (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.

(1)Yes     X     No
         -----        -----

(2)Yes     X     No
         -----        -----

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

     Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.

     The number of shares of Common Stock outstanding as of February 29, 2004
was 16,283,809.

<PAGE>


                             THE MACREPORT.NET, INC.

                                   FORM 10-QSB

                                February 29, 2004

                                      INDEX

                         PART I - FINANCIAL INFORMATION

                                                                           Page
   Item 1.

              Unaudited Consolidated Balance Sheet                            3

              Unaudited Consolidated Statements of Operations                 4

              Unaudited Consolidated Statements of Cash Flows                 5

              Unaudited Notes to Consolidated Financial Statements            6

   Item 2.    Management's Discussion and Analysis of Financial
              Condition and Results of Operations                             6

   Item 3.    Controls and Procedures                                        12


                                PART II - OTHER INFORMATION

   Item 1.    Legal Proceedings                                              13

   Item 2.    Changes in Securities                                          13

   Item 3.    Defaults by the Company upon Its Senior Securities             14

   Item 4.    Submission of Matters to a Vote of Security Holders            14

   Item 5.    Other Information                                              14

   Item 6.    Exhibits and Reports on Form 8-K                               15

              Signatures                                                     16

                                       2

<PAGE>



                                     PART I.
                              FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS
         --------------------


                     THE MACREPORT.NET, INC. AND SUBSIDIARY
                     CONSOLIDATED BALANCE SHEET - UNAUDITED
                                FEBRUARY 29, 2004

                                     ASSETS


CURRENT ASSETS

   Cash and cash equivalents                                        $    55,776
   Marketable securities                                                193,807
   Other current assets                                                   2,000
                                                                    -----------

         Total Current Assets                                           251,583

PROPERTY AND EQUIPMENT, at cost, less accumulated
   depreciation of $30,442                                               30,075

OTHER ASSETS

   Security deposits                                                      7,571
                                                                    -----------

         TOTAL ASSETS                                               $   289,229
                                                                    ===========


                      LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES

Accounts payable and accrued expenses                               $   547,786
Notes payable                                                           982,056
Deferred revenue                                                        173,417
                                                                    -----------
         Total Liabilities                                            1,703,259


COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' DEFICIENCY
   Preferred stock, $.0001 par value,
     5,000,000 shares authorized,
     no shares issued or outstanding                                $      --
   Common stock, $.0001 par value,
     25,000,000 shares authorized
     16,283,809 shares issued and outstanding                             1,628

   Additional paid-in capital                                         1,680,784

   Deficit                                                           (3,096,441)
                                                                    -----------
         Total Stockholders' Deficiency                              (1,414,030)
                                                                    -----------

         TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY             $   289,229
                                                                    ===========


          See accompanying notes to consolidated financial statements.

                                       3

<PAGE>
<TABLE>
<CAPTION>


                       THE MACREPORT.NET, INC. AND SUBSIDIARY
                  CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED



                                                           Three months ending
                                                      February 29,    February 28,
                                                          2004            2003
                                                      ------------    ------------
   <S>                                                <C>             <C>
   Revenues                                           $    328,608    $    154,384

   Cost of Revenues                                         53,399          13,395
                                                      ------------    ------------

         Gross profit                                      275,209         140,989

   Selling, general and administrative expenses            175,478         332,961
                                                      ------------    ------------

         Income(loss) before other income(expense)          99,731        (191,972)
                                                      ------------    ------------
   Other Income(Expense):
     Unrealized gain on non-marketable securities            2,090            --

     Realized gain on sale of marketable securities          5,134            --
     Interest expense
                                                           (21,466)        (22,509)
                                                      ------------    ------------
         Total other income (expense)                      (14,242)         22,509
                                                      ------------    ------------

         Net Income (loss)                            $     85,489    $   (214,481)
                                                      ============    ============


Basic Earnings (Loss) Per Share                       $       0.01    $      (0.01)
                                                      ============    ============

Fully Diluted Earnings (Loss) Per Share               $       0.00    $      (0.01)
                                                      ============    ============

Weighted Average Number of Shares Outstanding           16,283,809      15,875,232
                                                      ============    ============


            See accompanying notes to consolidated financial statements.

                                          4
</TABLE>

<PAGE>
<TABLE>
<CAPTION>


                     THE MACREPORT.NET, INC. AND SUBSIDIARY
                CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED



                                                                 Three months ending
                                                             February 29,  February 28,
                                                                 2004         2003
                                                               ---------    ---------
<S>                                                            <C>          <C>
CASH FLOWS FROM OPERATING ACTIVITIES
   Net income (loss)                                           $  85,489    $(214,481)
   Adjustments to reconcile net income (loss) to net cash
     Used in operating activities:
     Depreciation and amortization                                 1,926        2,845
     Unrealized gain on marketable securities                     (2,090)           0
     Realized gain loss on sale of securities                     (5,134)           0
     Marketable securities received for payment of services     (237,400)           0
   Changes in assets and liabilities Increase (Decrease) in:
     Accounts payable and accrued expenses                         2,486         (835)
     Deferred revenue                                            137,314      (45,184)
                                                               ---------    ---------
   Total adjustments                                            (102,898)     (43,174)
                                                               ---------    ---------

     Net cash used in operating activities
                                                                 (17,409)    (257,655)

CASH FLOWS FROM INVESTING ACTIVITIES
   Proceeds from sales of marketable securities                   71,317         --
                                                               ---------    ---------
   Net cash provided by investing activities                      71,317         --

CASH FLOWS FROM FINANCING ACTIVITIES
Net advances from stockholder                                          0       (1,062)
   Net proceeds from note payable                                      0      231,359
                                                               ---------    ---------
     Net cash provided by financing activities                         0      230,297
                                                               ---------    ---------

NET INCREASE (DECREASE) IN CASH                                   53,908      (27,358)

CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD                    1,868      146,658
                                                               ---------    ---------
CASH AND CASH EQUIVALENTS -  END OF PERIOD                     $  55,776    $ 119,300
                                                               =========    =========


              See accompanying notes to consolidated financial statements.

                                            5
</TABLE>

<PAGE>


                     THE MACREPORT.NET, INC. AND SUBSIDIARY
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
       FOR THE THREE MONTHS ENDED FEBRUARY 29, 2004 AND FEBRUARY 28, 2003



All financial statements are unaudited. All unaudited amounts are subject to
year-end adjustments and audit, but the Company believes all adjustments,
consisting only of normal and recurring adjustments, necessary to present fairly
the financial condition, results of operations and changes in cash flows for all
interim periods have been made. The results of operations for interim periods
are not necessarily indicative of the operating results for the full year.

Footnote disclosures normally included in the financial statements prepared in
accordance with generally accepted accounting principles have been omitted in
accordance with published rules and regulations of the Securities and Exchange
Commission. These financial statements should be read in conjunction with the
audited financial statements and notes thereto included in the Company's form
10-KSB for the most recent fiscal year.


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

The following discussion and analysis should be read in conjunction with our
financial statements and the notes thereto appearing elsewhere in this report.
This report contains statements that constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. We
caution you that forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual results may
differ materially from the statements that constitute forward-looking statements
as a result of various factors.

Introduction and Nature of Business

Our core strategy is to be a leading Web portal for financial professionals and
business decision makers and worldwide provider of multimedia production and
distribution services to corporations and other organizations. Our revenues have
been generated from the sale of package services to public and private
companies. The packages range from merely exposure on our web site to a
comprehensive service package, including unlimited press release services as
well as client exposure in "Institutional Investor" magazine.

                                       6

<PAGE>
<TABLE>
<CAPTION>


Selected Financial Data


                                                            Three Months ended,
                                                            -------------------
RESULTS OF OPERATIONS:                                 Feb. 29, 2003   Feb. 28, 2002
                                                        ------------    ------------
<S>                                                     <C>             <C>
Total revenues                                          $    328,608    $    154,398

Net income (loss)                                       $     85,489    $   (214,481)

Net income (loss) attributable to common stockholders   $     85,489    $   (214,481)


Basic income (loss) per common share                    $      (0.01)   $       0.01

Fully Diluted income (loss) per common share            $       0.00    $      (0.01)


Weighted average common shares outstanding                16,283,809      15,875,232


Overview

The MacReport.Net, Inc. was incorporated as a Delaware corporation in December
2000. We commenced operations at such time. We believe that we create high-value
information and applications to benefit private and public companies.

Prior to the fourth quarter of fiscal 2003, our activities have been primarily
devoted to business development, proof of concept activities, recruiting
personnel and other start-up activities, however, recently, our revenues have
grown substantially through sales of our services and products and the Company's
focus has shifted to growing its customer base.

General

We are an information and media company that provides a Web-based forum for
public and private issuers to communicate corporate audio and video news content
to the business, financial and investing community through our Web site, located
at www.macreport.net. We have built a user friendly, highly effective Web site
that aggregates and disseminates information from multiple sources.

Through content partnerships, we also provide Web-based financial information to
professionals who need quick access to reliable corporate, industry and market
intelligence. By visiting our website, users are able to access comprehensive
and up-to-the minute business and financial information on public and private
companies from several information providers drawing upon multiple sources of
content. Our services enable timely, online access to a wide array of
proprietary and partner content. These sources include both textual information,
such as news, trade press, SEC filings, executive biographies and analyst
reports, and numeric information, such as company financial results, stock
quotes and industry statistics.

We expect that visitors to our Web site use our information for their
professional endeavors, including financial and competitive research, as well as
for their personal activities. We believe that we provide advertisers with a
large, demographically desirable business audience.

We market and sell package services to public and private companies. The
packages range from merely exposure on our web site to a comprehensive service
package, including unlimited press release services as well as client exposure
in "Institutional Investor" magazine. The Company purchases advertising pages
from "Institutional Investor" magazine and, within these pages, highlights its
clients and information regarding such client' business. The press release
services can range from a set amount of client press releases per month to
unlimited.

                                       7
</TABLE>

<PAGE>


Summary of Critical Accounting Policies; Significant Judgments and Estimates

Our discussion and analysis of our financial condition and results of operations
are based upon our Consolidated Financial Statements, which have been prepared
in accordance with accounting principles generally accepted in the United
States. The preparation of these financial statements requires us to make
significant estimates and judgments that affect the reported amounts of assets,
liabilities, revenues and expenses, and related disclosure of contingent assets
and liabilities. These items are regularly monitored and analyzed by management
for changes in facts and circumstances, and material changes in these estimates
could occur in the future. Changes in estimates are recorded in the period in
which they become known. We base our estimates on historical experience and
various other assumptions that we believe to be reasonable under the
circumstances. Actual results may differ from our estimates if past experience
or other assumptions do not turn out to be substantially accurate.

A summary of those accounting policies that we believe are most critical to
fully understanding and evaluating our financial results is set forth below.

Revenue Recognition and Allowance for Doubtful Accounts. We recognize revenue
from the provision of professional services under written service contracts with
our clients. We derive our revenue from fixed-price, fixed-time contracts.
Revenue generated from these contracts is recognized based on the ratio of labor
hours incurred to estimated total labor hours. This method is used because
reasonably dependable estimates of the revenues and costs applicable to various
stages of a contract can be made, based on historical experience and milestones
set in the contract.

If we do not accurately estimate the resources required or the scope of work to
be performed for a contract or we do not manage the project properly within the
planned time period, then we may recognize a loss on the contract. Provisions
for estimated losses on uncompleted contracts are made on a contract-by-contract
basis and are recognized in the period in which such losses are determined. We
have committed unanticipated additional resources to complete projects in the
past, which has resulted in lower than anticipated profitability or losses on
those contracts. We expect that we will experience similar situations in the
future. In addition, we may fix the price for some projects at an early stage of
the process, which could result in a fixed price that turns out to be too low
and, therefore, could adversely affect our business, financial condition and
results of operations.

In some instances during 2002 and 2003, we provided services to clients in
exchange for equity instruments of the client. We measure the fair value of the
equity instrument on the date the parties come to a mutual understanding of the
terms of the arrangement and a commitment for performance by us to earn the
equity instruments is reached, or when the equity is earned, whichever occurs
earlier.

                                       8

<PAGE>


Results of Operations

Three Months ended February 29, 2004 compared with three months ended February
28, 2003.

     Overall Financial Situation. The Company had revenues of $328,608 for the
three month period ended February 29, 2004, an increase of $174,224 or 113% from
the three month period ended February 28, 2003. The Company's revenues consisted
mainly of the selling of the packages of its services. The Company has cost of
revenues of $53,399 for the three month period ended February 29, 2004, an
increase of $40,004 or 299% from the three month period ended February 28, 2003.
The Company's cost of revenues includes the costs and expenses of its vendors
and subcontractors that provide services on behalf of the Company in connection
with its packages of services. For the three month period ended February 28,
2003, the Company had revenues of $154,384 with costs of revenues of $13,395.
The Company had a stockholders' deficiency at February 29, 2004 in the amount of
$1,414,030, a decrease of $77,506 from the stockholders' deficiency at February
28, 2003 of $1,491,536. This decrease is primarily due to the conversion of debt
to equity and net income of $85,489 for the three month period ended February
29, 2004. Selling general and administrative expenses increased from the three
month period ended February 28, 2003 by $134,220 or 95%, resulting in income
from operations of $99,731 for the three month period ended February 29, 2004.
Interest expense decreased by $1,043 for the three month period ended February
29, 2004 from $22,509 for the three month period ended February 28, 2003.

     Revenues. The Company had revenues of $328,608 for the three month period
ended February 29, 2004, an increase of $174,224 or 113% from the three month
period ended February 28, 2003.

     Selling, General and Administrative Expenses. Selling general and
administrative expenses increased from the three month period ended February 28,
2003 by $134,220 or 95%, resulting in income from operations of $99,731 for the
three month period ended February 29, 2004. These expenses consist primarily of
professional fees and other corporate expenses, including business development
and general legal activities.


Liquidity and Capital Resources

In February 2004, the Company converted the convertible promissory notes dated
January -April 2003 (aggregate principal amount of $35,000) into 10,867 shares
of common stock of the Company pursuant to a conversion agreement wherein the
holders of such notes have agreed to: (i) convert the notes into shares of
common stock of the Company at a conversion price which is $0.05 less than the
conversion price set forth in the respective notes ($3.50); and (ii) not sell or
transfer the shares received in conversion of the notes for a period of one (1)
year from the date of such conversion. The Company and 5 remaining holders of
these convertible notes have been engaged in discussions with respect to such
convertible note to either: (i) convert the note into shares of common stock of
the Company; (ii) pay the interest and principal balance of the note; or (iii)
extend the maturity date to August 1, 2004.

During April 2003, we issued a promissory note to an employee of the Company
with an aggregate principal amount of $10,000. The note bears interest at a rate
of 8% per annum with a maturity date of April 1 2005.

During August through October 2003, we issued convertible promissory notes to 6
individuals with an aggregate principal amount of $155,000. The convertible
notes bear interest at a rate of 8% per annum with a maturity date of March 1,
2004. Pursuant to the terms of the convertible notes, prior to August 1, 2004,

                                       9

<PAGE>


we may convert the balance due together with accrued interest into shares of
common stock. The conversion ratio is the greater of: (y) the amount that is
equal to the product of the closing bid price per share for the common stock, as
reported on the over-the-counter electronic bulletin board, or such other public
market that the Company's common stock is then traded and seventy-five percent
(75%); and (z) 2.0. The notes were converted one day subsequent to their
issuance into 77,500 shares of common stock of the Company.

In August 2003, the Company converted 16 convertible notes that have maturity
dates of May 1, 2003, June 1, 2003 and July 1, 2003 (aggregate principal amount
of $324,500) pursuant to a conversion agreement wherein the holders of such
notes have agreed to: (i) convert the notes into shares of common stock of the
Company (200,824 shares of common stock issued pursuant to the conversion in the
aggregate) at a conversion price which is $0.05 less than the conversion price
set forth in the respective notes ($1.50-$2.00); and (ii) not sell or transfer
the shares received in conversion of the notes for a period of one (1) year from
the date of such conversion.

In July 2003, the Company converted 61 convertible notes made by Michael Adams
Securities, Inc., a Delaware corporation and wholly owned subsidiary of the
Company (maturity dates of October 1, 2003, November 1, 2003 and December 1,
2003 (aggregate principal amount of $141,475)) pursuant to a conversion
agreement wherein the holders of such notes have agreed to: (i) convert the
notes into shares of common stock of the Company (52,722 shares of common stock
issued pursuant to the conversion in the aggregate) at a conversion price which
is $0.05 less than the conversion price of ($1.50); and (ii) not sell or
transfer the shares received in conversion of the notes for a period of one (1)
year from the date of such conversion.

In November 2003, the Company converted 10 convertible notes (maturity dates of
October 1, 2003, November 1, 2003 and December 1, 2003 (aggregate principal
amount of $150,000)) pursuant to a conversion agreement wherein the holders of
such notes have agreed to: (i) convert the notes into shares of common stock of
the Company (66,664 shares of common stock issued pursuant to the conversion in
the aggregate) at a conversion price which is $0.05 less than the conversion
price of ($2.50); and (ii) not sell or transfer the shares received in
conversion of the notes for a period of one (1) year from the date of such
conversion.

During January through April 2003, we issued convertible promissory notes to 5
individuals with an aggregate principal amount of $75,000. The convertible notes
bear interest at a rate of 8% per annum with a maturity date of March 1, 2004.
Pursuant to the terms of the convertible notes, prior to March 1, 2004, we may
convert the balance due together with accrued interest into shares of common
stock. The conversion ratio is the greater of: (y) the amount that is equal to
the product of the closing bid price per share for the common stock, as reported
on the over-the-counter electronic bulletin board, or such other public market
that the Company's common stock is then traded and seventy-five percent (75%);
and (z) 3.50. The Comply is engaged in discussions with each holder of the notes
to convert the notes. The Company expects to convert the notes within thirty
days.

During March, April and May 2003, pursuant to a loan restructuring of the
$100,000 February 28, 2003 six month promissory note, the $100,000 January 14,
2002 120-day promissory note (as amended), the $100,000 November 16, 2001 60-day
promissory note (as amended), and other notes (as included below) with an
aggregate principal amount of $97,997, the Company received an additional
$355,000 from the holder of the notes who is also a shareholder of the Company.
Pursuant to the restructuring, the Company issued this shareholder (the holder
of the notes) a convertible promissory note with an aggregate principal amount
of $752,997 plus interest accrued pursuant to the terminated notes. In addition,

                                       10

<PAGE>


pursuant to the loan restructuring, the holder of the note is entitled to be
issued warrants to purchase common stock of the Company in an amount to be
agreed upon between the Company and such holder. The convertible note bears
interest at a rate of 8% per annum with a maturity date of May 30, 2004.
Pursuant to the terms of the convertible note, prior to May 30, 2004, we may
convert the balance due together with accrued interest into shares of common
stock. The conversion ratio is 2.50. Each of the prior notes, the $100,000
February 28, 2003 six month promissory note, the $100,000 January 14, 2002
10-day promissory note (as amended), the $100,000 November 16, 2001 60-day
promissory note (as amended), and the other notes with an aggregate principal
amount of $97,997, have been cancelled.

As of February 29, 2004, we had $55,776 in cash and cash equivalents.

To engage in certain components of our planned operations, we are required to
register with the Securities and Exchange Commission as an investment advisor
under the Investment Advisors Act of 1940, as amended. As an investment adviser,
we will be subject to restrictions against engaging in fraudulent, deceptive or
manipulative acts or practices. We will be subject to remedial sanctions,
including censure, limitations on our operations, suspension for a period not
exceeding 12 months, and revocation for, among other things, willfully violating
or aiding or abetting a violation of the Securities Act, the Exchange Act, the
Investment Company Act, the Investment Advisers Act or any rule or regulation
adopted pursuant to any of such acts.

We have filed with NASD Regulation entitlement forms for access to the
Investment Advisor Registration Depository (IARD) and have established an IARD
User Account. We have delayed the filing of Form ADV as our business model has
been modified and the components of our plans that require registration have not
been implemented and are not an integral part of our operations. However, until
such time as we file Form ADV, we will not be able to commence certain of our
planned operations. The requirement to register as an investment advisor with
the Securities and Exchange Commission will cause us to incur additional costs
and expenses, will result in delays in certain operations and the execution of
certain plans.

Current and Future Financing Needs

We have incurred negative cash flow from operations since we started our
business. We have spent, and expect to continue to spend, substantial amounts in
connection with growing our customer base. We have 8 full time employees. We do
not engage any consultants.

Based on our current plans, we believe that our cash and cash equivalents and
cash flows (from increasing revenues) will be sufficient to enable us to meet
our planned operating needs. However, the actual amount of funds we may need to
operate is subject to many factors, some of which are beyond our control.

These factors include the following:

         costs associated with any acquisitions targets;

         costs associated with marketing our services; and

         our ability to grow our customer base and retain our current customers.

We have based our belief of not requiring any additional funds on assumptions
that may prove to be wrong.

                                       11

<PAGE>


ITEM 3.   CONTROLS AND PROCEDURES
          -----------------------

Within the 90-days prior to the filing of this quarterly report, we carried out
an evaluation, under the supervision and with the participation of our Chief
Executive Officer and Executive Vice President/Director, of the effectiveness of
the design and operation of our disclosure controls and procedures. Based on
this evaluation, our Chief Executive Officer and Vice President/Director
concluded that our disclosure controls and procedures are effective in timely
alerting them to material information required to be included in this quarterly
report.

There have been no significant changes in our internal controls or in other
factors that could significantly affect internal controls subsequent to our most
recent evaluation of our internal controls.

                                       12

<PAGE>


                                    PART II.
                                OTHER INFORMATION

ITEM 1.   LEGAL PROCEEDINGS
          -----------------

The Company is involved in various legal proceedings and claims incident to the
normal conduct of its business. The Company believes that such legal proceedings
and claims, individually and in the aggregate, are not likely to have a material
adverse effect on its financial position or results of operations.

In November 2003, Encore Entertainment, a holder of a convertible note of the
Company, filed a complaint against the Company in the Superior Court of the
State of Arizona, County of Maricopa, alleging breach of contract (the
convertible note agreement). The plaintiff is seeking monetary damages totaling
$50,000 plus interest, costs and attorney's fees. The Company has filed its
answer to plaintiff's complaint in January 2004. The Company, which intends to
defend the action vigorously, does not believe that the suit will have a
material adverse effect on its financial position or results of operations,
however, there can be no assurance of the outcome.

In November 2003, Joel Soren, former executive officer of the Company, filed a
complaint against the Company as well as against Michael Adams Consulting, Inc.
and V. William Lucchetti, Jr. in the Supreme Court of the State of New York,
County of Richmond, alleging monies owed to the plaintiff for services. The
plaintiff is seeking monetary damages totaling approximately $56,000 plus
interest, costs and attorney's fees. The Company and Mr. Soren have reached an
agreement to settle this matter. The complaint has been dismissed.

In January 2002, Bondy & Schloss LLP, a law firm which formerly provided
services to the Company, filed a complaint against the Company as well as
against Michael Adams Consulting, Inc. and V. William Lucchetti, Jr. in the
Supreme Court of the State of New York, County of New York, alleging monies owed
to the plaintiff for certain legal services. The plaintiff sought monetary
damages totaling $73,339 plus costs and attorney's fees. The Company and Bondy &
Schloss have reached an agreement to settle this matter. The complaint has been
dismissed.


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

In February 2004, the Company converted the convertible promissory notes dated
January -April 2003 (aggregate principal amount of $35,000) into 10,867 shares
of common stock of the Company pursuant to a conversion agreement wherein the
holders of such notes have agreed to: (i) convert the notes into shares of
common stock of the Company at a conversion price which is $0.05 less than the
conversion price set forth in the respective notes ($3.50); and (ii) not sell or
transfer the shares received in conversion of the notes for a period of one (1)
year from the date of such conversion. The shares were issued pursuant to an
exemption from registration contained in Securities laws. The Company and 5
remaining holders of these convertible notes have been engaged in discussions
with respect to such convertible note to either: (i) convert the note into
shares of common stock of the Company; (ii) pay the interest and principal
balance of the note; or (iii) extend the maturity date to August 1, 2004. This
discussion will be finalized within sixty (60) days.

                                       13

<PAGE>


ITEM 3.   DEFAULTS BY THE COMPANY UPON ITS SENIOR SECURITIES
          --------------------------------------------------

On August 5, 2003, the Company has converted 17 convertible notes that have
maturity dates of May 1, 2003, June 1, 2003 and July 1, 2003 (aggregate
principal amount of $324,500) pursuant to a conversion agreement wherein the
holders of such notes have agreed to: (i) convert the notes into shares of
common stock of the Company at a conversion price which is $0.05 less than the
conversion price set forth in the respective notes ($1.50-$2.00); and (ii) not
sell or transfer the shares received in conversion of the notes for a period of
one (1) year from the date of such conversion. The Company and three (3)
remaining holders of these convertible notes (aggregate principal amount of
$25,000; aggregate interest amount $1,798) have been engaged in discussions with
respect to such convertible note to either: (i) convert the note into shares of
common stock of the Company; (ii) pay the interest and principal balance of the
note; or (iii) extend the maturity date to June 1, 2004. This discussion will be
finalized within sixty (60) days.

On July 25, 2003, the Company converted 61 convertible notes made by Michael
Adams Securities, Inc., a Delaware corporation and wholly owned subsidiary of
the Company (maturity dates of October 1, 2003, November 1, 2003 and December 1,
2003 (aggregate principal amount of $140,725)) pursuant to a conversion
agreement wherein the holders of such notes have agreed to: (i) convert the
notes into shares of common stock of the Company at a conversion price which is
$0.05 less than the conversion price of ($1.50); and (ii) not sell or transfer
the shares received in conversion of the notes for a period of one (1) year from
the date of such conversion. The Company and one (1) remaining holder of these
convertible notes (maturity dates of November 1, 2003) (aggregate principal
amount of $10,000; aggregate interest amount $999) have been engaged in
discussions with respect to such convertible note to either: (i) convert the
note into shares of common stock of the Company; (ii) pay the interest and
principal balance of the note; or (iii) extend the maturity date to December 1,
2004. This discussion will be finalized within sixty (60) days.

During September, October and November 2002, we issued convertible promissory
notes to 5 individuals with an aggregate principal amount of $240,000. The
convertible notes bear interest at a rate of 8% per annum with a maturity dates
of September 1, 2003, October 1, 2003 and November 1 2003 respectively. Pursuant
to the terms of the convertible notes, prior to the respective maturity dates,
we may convert the balance due together with accrued interest into shares of
common stock. The conversion ratio is the greater of: (y) the amount that is
equal to the product of the closing bid price per share for the common stock, as
reported on the over-the-counter electronic bulletin board, or such other public
market that the Company's common stock is then traded and seventy-five percent
(75%); and (z) 2.50. The Company and the holders of these convertible notes
(aggregate principal amount of $20,000; aggregate interest amount $2,104) have
been engaged in discussions with respect to such convertible notes to either:
(i) convert the notes into shares of common stock of the Company; (ii) pay the
interest and principal balance of the notes; or (iii) extend the maturity date
to May 1, 2004. This discussion will be finalized within thirty (30) days.

ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
          ---------------------------------------------------
None.

ITEM 5.   OTHER INFORMATION
          -----------------
None.

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<PAGE>


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

a)  Exhibits

Exhibit 31.1        Certification of V. William Lucchetti pursuant to Rule
                    13-14(a) and Item 307 of Regulation SB

Exhibit 32.1        Certification by V. William Lucchetti Pursuant to the 18
                    U.S.C. Section 1350, as Adopted Pursuant to Section 906 of
                    the Sarbanes-Oxley Act of 2002

b) Reports on Form 8-K

     None

                                       15

<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.


                             THE MACREPORT.NET, INC.
                             -----------------------


                         By:  /s/  Vito W. Lucchetti, Jr.
                            -------------------------------
                                   Vito W. Lucchetti, Jr. Chairman,
                                   Chief Executive Officer and President
                                   (Principal Executive Officer and
                                   Principal Accounting and Financial Officer)


Date:  April 14, 2004


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