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 August 31, 2003

                                       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.

     Common stock, par value $0.0001, 16,198,265 shares as of August 29, 2003.

<PAGE>



                             THE MACREPORT.NET, INC.

                                   FORM 10-QSB

                                 August 31, 2003

                                      INDEX

                         PART I - FINANCIAL INFORMATION

                                                                           Page
   Item 1.                                                                 ----

                   Unaudited Consolidated Balance Sheet                     3

                   Unaudited Consolidated Statements of Operations         4-5

                   Unaudited Consolidated Statements of Cash Flows          6

                   Unaudited Notes to Consolidated Financial Statements     7

   Item 2.         Management's Discussion and Analysis of Financial
                   Condition and Results of Operations                      7

   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      15

   Item 5.         Other Information                                        15

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

                   Signatures                                               16

                   Certification Pursuant to Section 302 of the
                   Sarbanes-Oxley Act of 2002                               17

<PAGE>
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<CAPTION>


                                     PART I.
                              FINANCIAL INFORMATION

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


                            THE MACREPORT.NET, INC. AND SUBSIDIARY
                                 (A Development Stage Entity)
                            CONSOLIDATED BALANCE SHEET - UNAUDITED
                                        AUGUST 31, 2003

                                            ASSETS

CURRENT ASSETS:

   <S>                                                              <C>              <C>
   Cash  and cash equivalents                                       $   101,081
   Prepaid Expenses and other current assets                              3,900
                                                                    -----------

         Total Current Assets                                                         104,981

PROPERTY AND EQUIPMENT, at cost, less accumulated
   depreciation of $25,435                                                             35,083

OTHER ASSETS:

   Security deposits                                                      5,845
   Due from shareholder                                                  83,983
                                                                    -----------

         Total Other Assets                                                            89,828
                                                                                  -----------

         TOTAL ASSETS                                                             $   229,892
                                                                                  ===========


                           LIABILITIES AND STOCKHOLDERS' DEFICIENCY

CURRENT LIABILITIES:

Accounts payable and accrued expenses                                             $   464,750
Note payable                                                                        1,183,106
Deferred revenue                                                                       31,985
                                                                                  -----------

         Total Current Liabilities                                                  1,679,841

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
     16,198,265 shares issued and outstanding                             1,621
   Additional paid-in capital                                         1,441,417
   Deficit Accumulated in the Development Stage                      (2,892,987)
                                                                    -----------
         Total Stockholders' Deficiency                                            (1,449,949)
                                                                                  -----------

         TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY                           $   229,892
                                                                                  ===========


                 See accompanying notes to consolidated financial statements.

                                               3
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<PAGE>


                     THE MACREPORT.NET, INC. AND SUBSIDIARY
                          (A Development Stage Entity)
                CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED



                                                       Three months ending
                                                    August 31,      August 31,
                                                       2003            2002
                                                   ------------    ------------

   Revenues                                        $     56,592    $      4,667

   Cost of Revenues                                      23,373            --
                                                   ------------    ------------

         Gross profit                                    33,219           4,667

   Selling, general and administrative expenses         297,201         290,495
                                                   ------------    ------------

         Loss From Operations                          (263,982)       (285,828)

   Interest expense                                     (36,278)           --
                                                   ------------    ------------

         Net Loss                                  $   (300,260)   $   (285,828)
                                                   ============    ============



Basic and Diluted Loss Per Share                   $      (0.02)   $      (0.02)
                                                   ============    ============

Weighted Average Number of Shares Outstanding        15,964,124      15,845,000
                                                   ============    ============


          See accompanying notes to consolidated financial statements.

                                        4

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                             THE MACREPORT.NET, INC. AND SUBSIDIARY
                                  (A Development Stage Entity)
                        CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED



                                                   Nine months ending
                                                                                  Inception to
                                                    August 31,      August 31,     August 31,
                                                      2003            2002            2003
                                                  ------------    ------------    ------------

   <S>                                            <C>             <C>             <C>
   Revenues                                       $    288,434    $      4,667    $    314,771

   Cost of Revenues                                    112,427               0         149,116
                                                  ------------    ------------    ------------

         Gross profit                                  176,007           4,667         165,655

   Selling, general and administrative expenses        837,601         674,090       2,721,406
                                                  ------------    ------------    ------------

         Loss before other income (expense)           (661,594)       (669,423)     (2,555,751)
                                                  ------------    ------------    ------------

   Other Income(Expense):
     Loss on sale of marketable securities                --            (1,412)       (194,309)
     Interest expense                                  (85,883)           --          (142,152)
     Interest income                                      --              --               190
                                                  ------------    ------------    ------------
         Total other income (expense)                  (85,883)         (1,412)       (336,271)
                                                  ------------    ------------    ------------

         Loss before income taxes                     (747,477)       (670,835)     (2,892,022)

   Income taxes                                            455             455             965
                                                  ------------    ------------    ------------


         Net Loss                                 $   (747,932)   $   (671,290)   $ (2,892,987)
                                                  ============    ============    ============



Basic and Diluted Loss Per Share                  $      (0.05)   $      (0.04)
                                                  ============    ============

Weighted Average Number of Shares Outstanding       15,905,079      15,845,000
                                                  ============    ============


                  See accompanying notes to consolidated financial statements.

                                                5
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<CAPTION>


                                  THE MACREPORT.NET, INC. AND SUBSIDIARY
                                       (A Development Stage Entity)
                             CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED



                                                                   Nine months ending
                                                                                             Inception to
                                                                August 31,     August 31,     August 31,
                                                                  2003           2002           2003
                                                               -----------    -----------    -----------
CASH FLOWS FROM OPERATING ACTIVITIES
   <S>                                                         <C>            <C>            <C>
   Net Loss                                                    $  (747,932)   $  (671,290)   $(2,892,987)
   Adjustments to reconcile net loss to net cash
    used in operating activities:
     Depreciation and amortization                                   9,089          7,995         25,435
   Changes in assets and liabilities (Increase) Decrease in:
     Prepaid expenses and other current assets                      (3,900)        23,705         (3,900)
     Security deposits                                                   0              0         (5,845)
   Increase (Decrease) in:
     Accounts payable and accrued expenses                          88,879          5,219        464,750
     Deferred revenue                                              (24,674)         7,333         31,985
                                                               -----------    -----------    -----------
         Total adjustments                                          71,394         44,252        514,425
                                                               -----------    -----------    -----------
   Net cash used in operating activities                          (676,538)      (627,038)    (2,378,562)
                                                               -----------    -----------    -----------

CASH FLOWS FROM INVESTING ACTIVITIES
   Payments made for property and equipment                         (6,248)        (5,000)       (60,518)
                                                               -----------    -----------    -----------
   Net cash used in operating activities                            (6,248)        (5,000)       (60,518)
                                                               -----------    -----------    -----------

CASH FLOWS FROM FINANCING ACTIVITIES
   Net proceeds from issuance of common stock                      130,000              0        998,000
   Net advances (to)/from stockholder                             (112,150)        62,280        (83,983)
   Net proceeds from note payable                                  621,359        592,847      1,628,144
                                                               -----------    -----------    -----------
     Net cash provided by financing activities                     639,209        655,127      2,542,161
                                                               -----------    -----------    -----------
NET (DECREASE) INCREASE IN CASH AND
CASH EQUIVALENTS                                                   (45,577)        23,089        101,081

CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD                    146,658          1,168           --
                                                               -----------    -----------    -----------

CASH AND CASH EQUIVALENTS - END OF PERIOD                      $   101,081    $    24,257    $   101,081
                                                               ===========    ===========    ===========


                       See accompanying notes to consolidated financial statements.

                                                     6
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<PAGE>


                     THE MACREPORT.NET, INC. AND SUBSIDIARY
                          (A Development Stage Entity)
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
               FOR THE NINE MONTHS ENDED AUGUST 31, 2003 AND 2002


     ITEM 1. FINANCIAL STATEMENTS

     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-K 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. Forward-looking
statements can be identified by the use of forward-looking
terminology, such as "may", "will", "should", "expect", "anticipate",
"estimate", "project", "continue", "plans", "intends" or other similar
terminology. 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.

General

The MacReport.Net, Inc. was incorporated as a Delaware corporation in
December 2000. We commenced operations at such time. We are a
development stage company that has leveraged our core competencies to
create high-value information and applications to benefit private and
public companies.

Since commencing operations, our activities have been primarily
devoted to business development, proof of concept activities and
recruiting personnel. We have spent considerable time and capital
resources fine tuning and developing our strategic plan and Web site.

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

                                  7

<PAGE>


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. This summary should be read in conjunction with
our Consolidated Financial Statements and the related Notes included
elsewhere in this Annual Report.

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.

Results of Operations

Three months ended August 31, 2003 compared with Three months ended
August 31, 2002.

     Overall Financial Situation. The Company had revenues of $56,592
with costs of revenues of $23,373 for the quarter ended August 31,
2003 an increase of $51,925 from revenues compared to the quarter
ended August 31, 2002. The Company had no cost of revenues during the
quarter ended August 31, 2002. The Company has combined certain of its
services (i.e., providing press releases, EDGAR services as well as
exposure on the Company's website) into monthly service plans that it
sells and provides to clients. The Company offers different levels of
such service plans that varies the amount of services and the costs
for such service plan. The Company had a stockholders' deficiency at
August 31, 2003 in the amount of $1,449,949, an increase of $550,822
from the stockholders' deficiency at August 31, 2002 of $899,127. This
increase is partly due to the net loss of $300,260 for the quarter
ended August 31, 2003. Selling general and administrative expenses
increased from the quarter ended August 31, 2002 by $6,706 or 2.3%,
resulting in a loss from operations of $263,982 for the quarter ended
August 31, 2003. Interest expense increased by $36,278 for the quarter
ended August 31, 2003 from no interest expense for the quarter ended
August 31, 2002 primarily due to the convertible note financing in
2002.

     Revenues. We generated revenues of $56,592 from operations during
the quarter ended August 31, 2003 an increase of $51,925 from the
quarter ended August 31, 2002. We incurred cost of revenues of $23,373
during the quarter ended August 31, 2003 compared with no cost of
revenues during the quarter ended August 31, 2002.

                                  8

<PAGE>


     Selling, General and Administrative Expenses. Selling general and
administrative expenses increased from the quarter ended August 31,
2002 by $6,706 or 2.3%, resulting in a loss from operations of
$263,982 for the quarter ended August 31, 2003. These expenses consist
primarily of consulting fees, professional fees and other corporate
expenses, including business development and general legal activities.

     Other Expense. Interest expense increased by $36,278 for the
quarter ended August 31, 2003 from no interest expense for the quarter
ended August 31, 2002 primarily due to the convertible note financing
in 2002.

Nine Months ended August 31, 2003 compared with the Nine Months ended
August 31, 2002.

     Overall Financial Situation. The Company had revenues of $288,434
with costs of revenues of $112,427 for the nine-month period ended
August 31, 2003 an increase of $283,767 from revenues compared to the
nine-month period ended August 31, 2002. The Company had no costs of
revenues during the nine-month period ended August 31, 2002. The
Company had a stockholders' deficiency at August 31, 2003 in the
amount of $1,449,949, an increase of $550,822 from the stockholders'
deficiency at August 31, 2002 of $899,127. This increase is partly due
to the net loss of $747,932 for the nine-month period ended August 31,
2003. Selling general and administrative expenses increased from the
nine-month period ended August 31, 2002 by $163,511 or 24.3%,
resulting in a loss from operations of $661,594 for the nine-month
period ended August 31, 2003. Interest expense increased by $85,883
for the nine-month period ended August 31, 2003 from no interest
expense for the nine-month period ended August 31, 2002 primarily due
to the convertible note financing in 2002 and 2003.

     Revenues. The Company had revenues of $288,434 with costs of
revenues of $112,427 for the nine-month period ended August 31, 2003
an increase of $283,767 from revenues for the nine-month period ended
August 31, 2002. The Company had no costs of revenues during the
nine-month period ended August 31, 2002.

     Selling, General and Administrative Expenses. Selling general and
administrative expenses increased from the nine-month period ended
August 31, 2002 by $163,511 or 24.3%, resulting in a loss from
operations of $661,594 for the nine-month period ended August 31,
2003. These expenses consist primarily of consulting fees,
professional fees and other corporate expenses, including business
development and general legal activities.

     Other Expense. Interest expense increased by $85,883 for the
nine-month period ended August 31, 2003 from no interest expense for
the nine-month period ended August 31, 2002 primarily due to the
convertible note financing in 2002 and 2003.

Liquidity and Capital Resources

On August 5, 2003, the Company converted 17 convertible notes with
maturity dates of May 1, 2003, June 1, 2003 and July 1, 2003
(aggregate principal amount of $274,500) 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 one
(1) remaining holder of these convertible notes (maturity date of June
1, 2003 and principal amount of $50,000) 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, 2003. This discussion will be finalized
within sixty (60) days.

                                  9

<PAGE>


During August 2003, we issued an aggregate of 65,000 shares of common
stock to five (5) individuals who purchased such shares from the
Company for $2.00 per share.

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 two (2)
remaining holders of these convertible notes (maturity dates of
November 1, 2003 and December 1, 2003) 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 December 1, 2003. This discussion will be finalized
within sixty (60) days.

We issued 258,033 shares of common stock pursuant to the conversion of
the principal and interest due on notes as set forth above on August
5, 2003 and July 25, 2003.

During March and April 2003, we issued convertible promissory notes to
5 individuals with an aggregate principal amount of $35,000. 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) 2.50.

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, 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.

During January and February 2003, we issued convertible promissory
notes to 3 individuals with an aggregate principal amount of $50,000.
The convertible notes bear interest at a rate of 8% per annum with a
maturity date of December 1, 2003. Pursuant to the terms of the
convertible notes, prior to December 1, 2003, 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

                                  10

<PAGE>


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.

During December 2002 through February 2003, we issued convertible
promissory notes with an aggregate principal amount of $81,350. The
convertible notes bear interest at a rate of 8% per annum with a
maturity date of December 30, 2003. Pursuant to the terms of the
convertible notes, if the Company does not prepay the note prior to
December 30, 2003, the Company shall convert the balance due together
with accrued interest into shares of common stock of Michael Adams
Securities, Inc., a Delaware corporation and wholly owned subsidiary
of the Company. The conversion ratio is one and one-half dollars
($1.50) per share of common stock.

We have used the gross proceeds from these offerings to, among other
things, obtain additional office space, for other general and
administrative expenses, including the construction and redesign of
our Web site and pay for our obligations to Michael Adams Consulting,
Inc., a company wholly owned by V. William Lucchetti, Jr., our
president and CEO pursuant to a consulting agreement which has since
expired.

As of August 31, 2003, we had $101,081 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 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. We are not certain that we will ever implement
the components that require registration. However, if we do decide to
implement such components to our business model, until such time as we
file Form ADV, we will not be able to commence such 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 implementing our business
strategy. We have 12 full time employees.

Based on our current plans, we do not believe that our cash and cash
equivalents and cash flows will be sufficient to enable us to meet our
planned operating needs. To execute our business plan over the next
twelve months, we believe that we will require approximately $125,000
per month over the next 12 months, which will require us to raise,
approximately, an additional $700,000. We anticipate that we will
raise these additional funds through the private sale of our
securities and/or through loans issued to us by our officers and/or
directors. However, the actual amount of funds we will need to operate
is subject to many factors, some of which are beyond our control.

These factors include the following:

     o    expenses incurred by us in connection with the redesign of
          our Web site;

                                  11

<PAGE>


     o    costs associated with any acquisitions targets;

     o    costs associated with marketing our services;

     o    expense incurred in connection with our registration as an
          investment advisor and compliance with the Investment
          Advisors Act; and

     o    our ability to implement our business strategy.

We have based our estimate on assumptions that may prove to be wrong.

We need to obtain additional funds immediately and we may need to
obtain additional funds in greater amounts than we currently
anticipate. Potential sources of financing include strategic
relationships, public or private sales of our shares or debt and other
sources. We may seek to access public or private equity markets when
conditions are favorable due to our capital requirements. We do not
have any committed sources of financing at this time, and it is
uncertain whether additional funding will be available when we need it
on terms that will be acceptable to us, or at all. If we raise funds
by selling additional shares of common stock or other securities
convertible into common stock, the ownership interest of our existing
stockholders will be diluted. Our ability to continue as a going
concern depends upon our ability to raise additional funds in the
immediate future. If we are not able to obtain financing when needed,
we may be unable to carry out our business plan. As a result, we may
have to significantly limit or cease our operations and we may seek
protection from our creditors under the bankruptcy laws, in which case
our common stock would be essentially without value.

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 January 2003, 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 seeks monetary damages totaling $73,339
plus costs and attorney's fees. Bondy & Schloss, LLP refiled the
complaint with respect to the same cause of action in May 2003. 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.


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

On August 5, 2003, the Company converted 17 convertible notes with
maturity dates of May 1, 2003, June 1, 2003 and July 1, 2003
(aggregate principal amount of $274,500) 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 one
(1) remaining holder of these convertible notes (maturity date of June
1, 2003 and principal amount of $50,000) 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, 2003. This discussion will be finalized
within sixty (60) days.

During August 2003, we issued an aggregate of 65,000 shares of common
stock to five (5) individuals who purchased such shares from the
Company for $2.00 per share.

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 two (2)
remaining holders of these convertible notes (maturity dates of
November 1, 2003 and December 1, 2003) 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 December 1, 2003. This discussion will be finalized
within sixty (60) days.

                                  13

<PAGE>


We issued 258,033 shares of common stock pursuant to the conversion of
the principal and interest due on notes as set forth above on August
5, 2003 and July 25, 2003.


During March and April 2003, we issued convertible promissory notes to
5 individuals with an aggregate principal amount of $35,000. 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) 2.50.

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, 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.

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 one
(1) remaining holder of these convertible notes (maturity date of June
1, 2003) 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, 2003. 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 two (2)
remaining holder of these convertible notes (maturity dates of
November 1, 2003 and December 1, 2003) 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

                                  14

<PAGE>

the interest and principal balance of the notes; or (iii) extend the
maturity date to December 1, 2003. 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 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
          -----------------

On July 16, 2003, the Company appointed Kenneth T. Hutchinson to serve
as a non-executive member of the board of directors of Company and
chairman of the audit committee.


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

a)  Exhibits

     Exhibit 99.1   Certification pursuant to Exchange Act Rules
                    13A-14 and 15D-14

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.
                        -----------------------
                              (Registrant)


                        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:  October 15, 2003

                                  16

<PAGE>


                       CERTIFICATION PURSUANT TO
                                 SECTION 302 OF
                         THE SARBANES-OXLEY ACT OF 2002

Certification of Chief Executive Officer

I, V. William Lucchetti, Jr., certify that:

     1. I have reviewed this quarterly report on Form 10-QSB of The
Macreport.net, Inc.;

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

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

     4. I am responsible for establishing and maintaining disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for
the registrant and I have:

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

     b) evaluated the effectiveness of the registrant's disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and

     c) disclosed in this report any change in the registrant's internal control
over financial reporting that occurred during the registrant's most recent
fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial reporting;
and

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

     a) all significant deficiencies and material weaknesses in the design or
operation of internal controls over financial reporting which are reasonably
likely to adversely affect the registrant's ability to record, process,
summarize and report financial information; and

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

/s/  V. William Lucchetti, Jr.                        October 15, 2003
----------------------------------
     V. William Lucchetti, Jr.
     Chief Executive Officer

                                       17