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 28, 2005

                                       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.)

                              150 Broadhollow Road
                                   Suite PH11
                               Melville, NY 11747
           -----------------------------------------------------------
          (Address, including zip code, of principal executive offices)

                                 (631) 423-4222
               --------------------------------------------------
              (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 28, 2005
was 17,293,041.

<PAGE>



                             THE MACREPORT.NET, INC.

                                   FORM 10-QSB

                                February 28, 2005

                                      INDEX

                         PART I - FINANCIAL INFORMATION

                                                                            Page
   Item 1.

              Unaudited Condensed Consolidated Balance Sheet                   3

              Unaudited Condensed Consolidated Statements of Operations        4

              Unaudited Condensed Consolidated Statements of Cash Flows        5

              Unaudited Notes to Condensed Consolidated Financial
              Statements                                                       6

   Item 2.    Management's Discussion and Analysis of Financial
              Condition and Results of Operations                              8

   Item 3.    Controls and Procedures                                         15


              PART II - OTHER INFORMATION

   Item 1.    Legal Proceedings                                               16

   Item 2.    Changes in Securities                                           16

   Item 3.    Defaults by the Company upon Its Senior Securities              16

   Item 4.    Submission of Matters to a Vote of Security Holders             17

   Item 5.    Other Information                                               17

   Item 6.    Exhibits and Reports on Form 8-K                                17

              Signatures                                                      18

                                       2

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                                         PART I.
                                  FINANCIAL INFORMATION



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


                        THE MACREPORT.NET, INC. AND SUBSIDIARIES
                    CONDENSED CONSOLIDATED BALANCE SHEET - UNAUDITED
                                    FEBRUARY 28, 2005



                ASSETS
                ------

<S>                                                         <C>             <C>
 CURRENT ASSETS:
 Cash and cash equivalents                                  $ 2,081,329
 Marketable securities                                          578,530
 Accounts receivable                                              6,440
 Other current assets                                             4,000
                                                            -----------
 Total current assets                                         2,670,299

 PROPERTY AND EQUIPMENT, net                                  1,143,332
 OTHER ASSETS
 Deposits                                                         7,571
                                                            -----------
 Total other assets                                               7,571
                                                            -----------
 Total assets                                               $ 3,821,202
                                                            ===========

     LIABILITIES AND STOCKHOLDERS' EQUITY
     ------------------------------------

 CURRENT LIABILITIES:
 Accounts payable and accrued expenses                       $  295,514
 Notes payable                                                1,322,220
 Current Portion of Loan Payable - Related Party                252,652
 Deferred revenue                                               181,833
                                                            -----------
 Total current liabilities                                                    2,052,219
 Loan Payable - Related Party                                                   675,600
                                                                            -----------
 Total Liabilities                                                            2,727,819

 COMMITMENTS
 STOCKHOLDERS' EQUITY:
 Preferred stock $.0001 par value, authorized 5,000,000
 shares, no shares issued                                          --
 Common stock $.0001 par value, authorized 25,000,000
 shares, 17,293,041 shares issued and outstanding                 1,730
 Additional paid-in-capital                                   3,731,872
 Deficit                                                     (2,640,219)
                                                            -----------
 Total stockholders' equity                                                   1,093,383
                                                                            -----------
 Total liabilities and stockholders' equity                                 $ 3,821,202
                                                                            ===========


         See accompanying notes to condensed consolidated financial statements.

                                           3
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                       THE MACREPORT.NET, INC. AND SUBSIDIARIES
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED



                                                        Three months    Three months
                                                            ending          ending
                                                         February 28,    February 29,
                                                             2005            2004
                                                         ------------    ------------
<S>                                                      <C>             <C>
REVENUES                                                 $    477,650    $    328,608
COST OF REVENUES                                              116,393          53,399
                                                         ------------    ------------
GROSS PROFIT                                                  361,257         275,209
SELLING, GENERAL AND
   ADMINISTRATIVE EXPENSES                                    457,379         175,478
                                                         ------------    ------------
(LOSS) INCOME BEFORE OTHER INCOME (EXPENSE)                   (96,122)         99,731

OTHER INCOME (EXPENSE):
   Net Rental Loss                                           (123,633)           --
   Other income                                                 5,000            --
   Unrealized gain on non-marketable securities                80,572           2,090
   (Loss) Gain on sale of marketable securities              (543,825)          5,134
   Interest expense                                           (26,596)        (21,466)
   Interest income                                              1,443            --
                                                         ------------    ------------
                                                             (607,039)        (14,242)
                                                         ------------    ------------
(LOSS) INCOME BEFORE PROVISION FOR
   INCOME TAXES                                              (703,161)         85,489
PROVISION FOR INCOME TAXES                                        125            --
                                                         ------------    ------------
NET (LOSS) INCOME                                        $   (703,286)   $     85,489
                                                         ============    ============

(LOSS) INCOME PER COMMON SHARE:
BASIC                                                    $      (0.04)   $       0.01
                                                         ============    ============
DILUTED                                                  $      (0.04)   $       --
                                                         ============    ============

WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING:
BASIC                                                      16,437,485      16,272,942
                                                         ============    ============
DILUTED                                                    16,437,485      16,355,909
                                                         ============    ============


        See accompanying notes to condensed consolidated financial statements.

                                          4
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                          THE MACREPORT.NET, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED



                                                                 Three months   Three months
                                                                    ending        ending
                                                                 February 28,   February 29,
                                                                    2005           2004
                                                                 -----------    -----------
<S>                                                              <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net (loss) income                                             $  (703,286)   $    85,489
                                                                 -----------    -----------
   Adjustments to reconcile net (loss) income to net cash
     used in operating activities:
        Depreciation and amortization                                  9,764          1,926
        Unrealized gain on non-marketable securities                 (80,572)        (2,090)
        Realized loss (gain) on sale of securities                   543,825         (5,134)
        Marketable securities received for payment of services      (102,995)      (237,400)
        Changes in operating assets and liabilities:
        (Increase) decrease in assets:
           Accounts receivable                                         8,268           --
        Increase (decrease) in liabilities:
        Accounts payable and accrued expenses                         18,536          2,486
        Deferred revenue                                            (182,200)       137,314
                                                                 -----------    -----------
     Total adjustments                                               214,626       (102,898)
                                                                 -----------    -----------
     Net cash used in operating activities                          (488,660)       (17,409)
                                                                 -----------    -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Proceeds from sale of marketable securities                       230,225         71,317
   Purchase of property and equipment                               (427,429)          --
                                                                 -----------    -----------
     Net cash (used in) provided by investing activities            (197,204)        71,317
                                                                 -----------    -----------

CASH FLOWS FROM FINANCING ACTIVITIES:

   Net proceeds from issuance of common stock                      2,000,000           --
   Repayments of notes payable                                       (83,841)          --
                                                                 -----------    -----------
     Net cash provided by financing activities                     1,916,159           --
                                                                 -----------    -----------
Net increase in cash                                               1,230,295         53,908
Cash and cash equivalents at beginning of period                     851,034          1,868
                                                                 -----------    -----------
Cash and cash equivalents at end of period                       $ 2,081,329    $    55,776
                                                                 ===========    ===========


           See accompanying notes to condensed consolidated financial statements.

                                             5
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                     THE MACREPORT.NET, INC. AND SUBSIDIARY
         NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
       FOR THE THREE MONTHS ENDED FEBRUARY 28, 2005 AND FEBRUARY 29, 2004


ITEM 1.  FINANCIAL STATEMENTS

1. The Condensed Consolidated Balance Sheet as of February 28, 2005, the
Condensed Consolidated Statements of Operations and the Condensed Consolidated
Statements of Cash Flows for the three months ended February 28, 2005 and
February 29, 2004 have been prepared by us without audit. In our opinion, the
accompanying unaudited condensed consolidated financial statements contain all
adjustments necessary to present fairly in all material respects our financial
position as of February 28, 2005, results of operations and cash flows for the
three months ended February 28, 2005 and February 29, 2004.

This report should be read in conjunction with our Annual Report on Form 10-KSB
for the year ended November 30, 2004.

The results of operations and cash flows for the three months ended February 28,
2005 are not necessarily indicative of the results to be expected for the full
year.

2. Summary of Significant Accounting Policies:
   ------------------------------------------

Principles of consolidation
---------------------------

The consolidated financial statements include the accounts of the Company and
three subsidiaries. All significant intercompany transactions have been
eliminated in consolidation. The subsidiaries are as follows:

The Marcellus Group, LLC - A company owned 100% by the MacReport.Net that was
formed in 2004 to acquire, renovate, and lease out commercial properties. As of
February 28, 2005, the Marcellus Group LLC owned six buildings in the town of
Marcellus, New York.

MacNetworks Inc. - A company owned 100% by the MacReport.Net that was formed in
2004. As of February 28, 2005, there has been no material activity in this
corporation.

Spring Bay Oil Company Inc. - A company owned 77% by the MacReport.Net that was
formed in 2004 to develop a product that can be used in the production of oil.

JA Spa, LLC. - A company owned 100% by the MacReport.Net that was formed in
2005. As of February 28, 2005, there has been no material activity in this
corporation.

Use of estimates
----------------

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.

Revenue recognition
-------------------
Revenues from fee-based contracts with terms greater than one month are
recognized ratably over the life of the contract. Advertising revenues are
recognized over the period of the related ad.

Certain agreements with customers provide for payment in the form of restricted
equity securities of publicly traded companies. In accordance with Financial
Accounting Standards Board Statement No. 123(R), "Accounting for Stock Based
Compensation", revenue recognized from these transactions is based on the value
of similar services rendered to other customers for whom the Company receives
payment in cash.

                                       6

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Marketable securities
---------------------

The Company reports its investment in marketable securities under the provisions
of Financial Accounting Standards Board Statement No. 115 "Accounting for
Certain Investments in Debt and Equity Securities." In accordance with this
standard, securities which are classified as "trading securities" are recorded
in the Company's balance sheet at fair market value, with the resulting
unrealized gain or loss reflected in the Company's statement of operations in
the current period. Securities which are classified as "available for sale" are
also reported at fair market value, however, the unrealized gain or loss on
these securities is listed as a separate component of stockholders' equity.

Net (loss) income per common share and per common share equivalent share
------------------------------------------------------------------------

The reconciliations for the three months ended February 28, 2005 and February
29, 2004 are as follows:

     Three Months Ended February 28, 2005    Loss            Shares        Per Share
     ------------------------------------ ----------       ----------      ----------
    <S>                                   <C>              <C>             <C>
     Basic EPS                            $ (703,286)      16,437,485      $     (.04)
     Effect of Dilutive Securities              --               --              --
                                          ----------       ----------      ----------
     Diluted EPS                          $ (703,286)      16,437,485      $     (.04)
                                          ==========       ==========      ==========

     Three Months Ended February 29, 2004   Income           Shares        Per Share
     ------------------------------------ ----------       ----------      ----------

     Basic EPS                            $   85,489       16,272,942      $      .01
     Effect of Dilutive Securities              --             82,967            --
                                          ----------       ----------      ----------
     Diluted EPS                          $   85,489       16,355,909      $     --
                                          ==========       ==========      ==========

Comprehensive (loss) Income
---------------------------

Other comprehensive income refers to revenues, expenses, gains and losses that
under generally accepted accounting principles are included in comprehensive
income but are excluded from net income as these amounts are recorded directly
as an adjustment to stockholders' equity. Comprehensive (loss) income
approximated (loss) net income for all periods presented.

Issuance of Common Stock
------------------------

In February 2005, the Company sold 1,000,000 shares of its common stock to one
individual for two million dollars ($2,000,000). The shares of common stock are
restricted. The issuance of the securities in the transaction were deemed to be
exempt from registration under the Securities Act of 1933, as amended, in
reliance on Section 4(2) of the Securities Act and Regulation D promulgated
thereunder as transactions by an issuer not involving any public offering.

                                       7

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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.

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.
This summary should be read in conjunction with our Annual Report on Form 10-KSB
for the year ended November 30, 2004.

Revenue Recognition and Allowance for Doubtful Accounts. Revenues from fee-based
contracts with terms greater than one month are recognized ratably over the life
of the contract. Advertising revenues are recognized over the period of the
related ad.

Certain agreements with customers provide for payment in the form of restricted
equity securities of publicly traded companies. In accordance with Financial
Accounting Standards Board Statement No. 123(R), "Accounting for Stock Based
Compensation", revenue recognized from these transactions is based on the value
of similar services rendered to other customers for whom the Company receives
payment in cash.

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.

                                       8

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In some instances during the quarter ended February 28, 2005, 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.


Selected Financial Data

                                                              Three Months ended,
                                                              -------------------
RESULTS OF OPERATIONS:                                 Feb. 28, 2005         Feb. 29, 2004
                                                        ------------          ------------
<S>                                                     <C>                   <C>
Total revenues                                          $    477,650          $    328,608
Net income (loss)                                       $   (703,286)         $     85,489
Net income (loss) attributable to common stockholders   $   (703,286)         $     85,489

Basic income (loss) per common share                    $     ((0.04)         $       0.01
Fully Diluted income (loss) per common share            $      (0.04)         $       0.01

Weighted average common shares outstanding - Basic        16,437,485            16,272,942
Weighted average common shares outstanding - Diluted      16,437,485            16,355,909



Overview

The MacReport.Net, Inc. was incorporated as a Delaware corporation in December
2000. We commenced operations at such time. The Company is an internet
information and media company formed to allow publicly and privately held
companies to communicate relevant corporate information directly with the
investing public. This is done through the use of a web site that provides the
user with key information via management interviews, press releases, and other
information.

General

The Macreport.net, Inc.

We are an information and media company that provides a Web-based forum for
public and private issuers to communicate corporate audio 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 press release services as well as client exposure on our

                                       9

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website. Also, 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.

Industry Background

Providing information, tools and the opportunity to purchase products and
services to financial professionals and business decision makers over the
Internet represents a large and growing market opportunity. Increased Internet
usage and the desire for information by financial professionals and the
companies for which they work are driving growth in the market.

Recent industry growth has been driven by corporations and other enterprises
recognizing that productivity and competitiveness depend on extensive knowledge
of external information, including information about industries, customers,
competitors, prospects, business trends, breaking news and market data. These
organizations have already invested heavily in Internet connectivity and
networked computing infrastructures to manage internal information. These
organizations seek to leverage these infrastructures to access and manage
external information. While the financial markets have been negatively affected
over the past few years, we believe that these growth trends will not reverse.

The task of finding and using external information is often difficult and
cumbersome. Traditional, textual sources such as newspapers and directories can
require hours to search. A centralized library can be costly to establish and
maintain and can be an inefficient and incomplete information source. While the
emergence of the Web has greatly increased access to information, finding
comprehensive, precise, up-to-date, relevant and reliable information on the Web
can still be time-consuming and difficult. While other on-line services can be
useful research tools in certain circumstances, most of these services currently
focus on specific areas of content, such as financial data or news. They do not
provide the full range of data required by professionals. In addition, most
on-line services charge a fee for each search performed.

We believe that traditional sources, the Web and existing on-line services do
not adequately meet the information needs of many professionals who want to
compete effectively in today's fast-paced, global, customer-focused marketplace.
These professionals and their organizations demand external information that is:

     o    easily accessible in a user-friendly format

     o    comprehensive and includes both textual and numeric information

     o    derived from multiple, high quality sources

     o    integrated at a single site

     o    delivered on a platform that allows interpretation, manipulation and
          analysis

     o    delivered in a product easily implemented and supported on a corporate
          network

Additionally, we believe that many companies are looking for alternative service
providers for such tasks as disseminating press releases. With our products, we
offer a range of press release packages from a set amount of client press
releases per month to unlimited for a monthly fee. We believe that many
companies may benefit from this service as it is a fee per month and not a
variable cost. We are very excited about the productization of our services. We
believe that a market exists for these services and the bundling of such
services as we keep the costs lower that our competitors.

                                       10

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Strategy

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. The key
components of our growth strategy include:

     Grow Our Customer Base. During the initial stages of our operation, we have
focused on selling our streaming audio interviews, joint marketing ventures, and
public relations and consulting services to public companies with securities
trading on the Nasdaq SmallCap Market and the electronic over-the-counter
bulletin board. We believe there is an opportunity for the packaging of our
services into products which range from merely exposure on our web site to a
comprehensive service package, including press release services as well as
client exposure in "Institutional Investor" magazine. Furthermore, we believe
that we can introduce other services into our products and offer client
companies a full service line of services from press releases, edgar
conversions, printing to financial and investor exposure.

Generally, our clients are charged a monthly fee for the service package that
they request. These services may include:

     o    posting of content relating to the client that is in addition to the
          posting of content that we typically offer without charge, which may
          include: statistics, financial information, reports, editorials,
          stories and/or articles relating to the client and prepared by the
          client or by third parties;

     o    links to the client's Web site and to a page or pages of our Web site
          dedicated to providing information about the client;

     o    preparing and making available to our issuer clients one audio
          interview per year with representatives of the client and, at the
          option of our management, additional audios providing current
          newsworthy information about the client;

     o    dissemination of press releases; and

     o    coverage in our advertising pages within "Institutional Investor"
          magazine.

We also produce streaming audio and video profile presentations and textual
profiles of corporations for free. These profiles and presentations are
accessible through our Web site. We believe that by continually adding new
companies and additional sources of information, we will be positioned to become
the premier destination for CEO interviews.

     Grow Our Audience. We believe that increasing our brand awareness and our
exposure within the business community will contribute to our future success. To
date, we have successfully built a brand name but plan on continuing to grow our
audience by focusing on online and direct response advertising as well as public
relations to raise awareness of our company and our services. Furthermore, we
plan to partner with high-volume business and consumer Web sites.

     Increase Usage By Our Audience. To increase usage, we plan to expand our
content offering in the area of additional companies, industries, people and
products during the upcoming fiscal year. Moreover, we have developed and are
developing offline partnerships that will help to drive brand exposure and
traffic to our site.

     Maximize Revenues From Users of our Website. We plan to add e-commerce
opportunities to our Web site in an effort to generate revenues from users of
our Web site. More e-commerce partners will provide more buying opportunities on
the site and we plan to integrate these in the search results and within other
tools and content on the site. We also plan to increase the advertising revenue
per user through customer-targeting capabilities on the site.

                                       11

<PAGE>


     Pursue Acquisitions and Strategic Alliances. To further meet the needs of
financial professionals and business decision makers worldwide, we intend to
pursue acquisitions of, and strategic relationships with, companies with
complementary services and technologies and to expand our information and
services to cover more business organizations in international markets.

     Increase our Sales Staff. As more companies look for online services to
enhance productivity, we plan to increase our sales staff to gain a greater
share of this growing market.

     Technology Advancement. We plan to continuously advance and develop new
technologies that will enhance the user experience. We intend to expand our
technology services through ongoing investment, integration of new technologies,
and through targeted acquisitions.

Sales and Marketing

Subscribers
Subscribers for our service packages will primarily be corporations that are
publicly traded that require services such as press release and are concerned
about exposure to the financial and investor community. We plan to attract
additional subscribers through direct marketing efforts, media advertising and
referrals.

Advertising and e-Commerce
We plan to offer a variety of advertising options that may be purchased
individually or in packages. This may include banners and button advertisements
on our site, which can be rotated on a run-of-site basis or targeted to a
particular audience. Run-of-site advertisements appeal to advertisers seeking
general brand recognition across our online audience. Banners and buttons are
generally sold under short-term insertion orders based on a price per thousand
impressions served.

We plan to generate e-commerce revenues from advertisers or sponsors that pay
either a fee per transaction or a percentage of sales directly generated by
their placement on our Web site. These fees can originate from buttons, banners
or in-context text links within our site.

Licensing and Syndication
We plan to license and syndicate portions of our proprietary information and
certain tools to third parties for redistribution. We believe potential
customers will range from traditional online service providers to other Web
sites. We plan to provide our customers with either a customized data feed of
our proprietary company information, or a co-branded set of Web pages designed
for the customer. License and syndication fees will be based upon variables,
such as the amount of information and number of tools, the number of seats, the
number of capsules viewed or the number of terminals.

Marketing Relationships
We plan to develop relationships with frequently visited and well-known Web
sites in order to expand our audience. We plan to build customized versions of
our company profiles to be co-branded and integrated into partners' Web sites. A
customized, co-branded company profile may feature links to portions of the
other Web site as well as links back to our Web site for additional information.
By incorporating links back to our Web site, we can introduce our information to
a broader audience while displaying our free advertising-supported company
information within the context of the other Web site.

                                       12

<PAGE>


Our marketing relationships will be important for increasing our brand awareness
and attracting new visitors to our Web site. We will pursue relationships that
increase the value of our brand name and introduce new audiences to our
information.

Subsidiaries

The Company incorporated Macnetworks, Inc., a Delaware corporation that is
wholly-owned by the Company. In February 2004, Macnetworks was appointed as a
General Partner for Van Pfeiffer, L.P., a New York limited partnership and hedge
fund that primarily invests in private investments in public companies. For its
services, Macnetworks will receive 1.5% of the net assets and 20% of profits, if
any, of Van Pfeiffer. Macnetworks has not, as of February 28, 2005, received any
compensation from Van Pfeiffer.

In 2004, the Company incorporated The Marcellus Group, LLC, a New York limited
liability company. As of February 28, 2005, The Marcellus Group purchased five
commercial building properties in Marcellus, New York for the purposes of office
space for the Company. The buildings are currently being renovated for use by
the Company. A certain portion of the property will be rented for retail
commercial use.

In 2004, the Company also incorporated SpringBay Oil Company, Inc., a New York
corporation. SpringBay Oil Company was formed in 2004 to develop a product that
can be used in the production monitoring of oil wells. As of February 28, 2005,
there has been no material activity in this limited liability company.

In February 2005, the Company has incorporated JA Spa, LLC., a New York limited
liability company. JA Spa, LLC was formed to develop a health spa concept within
one of the properties owned by the Company in Marcellus, New York. The business
plans for JA Spa, LLC are currently being prepared.

Results of Operations

Three Months ended February 28, 2005 compared with three months ended February
29, 2004.

     Overall Financial Situation. The Company had revenues of $477,650 for the
three month period ended February 28, 2005, an increase of $149,042 or 45% from
the three month period ended February 29, 2004. The Company's revenues consisted
mainly of the selling of the packages of its services. The Company has cost of
revenues of $116,393 for the three month period ended February 28, 2005, an
increase of $62,994 or 118% from the three month period ended February 29, 2004.
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. The Company had a stockholders' equity at
February 28, 2005 in the amount of $1,093,383, an increase of $2,507,413 from
the stockholders' deficiency at February 29, 2004 of ($1,414,030). This increase
is primarily due to sale of 1,000,000 shares of common stock of the Company for
$2,000,000 in February 2005. Selling general and administrative expenses
increased from the three month period ended February 29, 2004 by $281,901 or
161% resulting in a loss from operations of ($96,122) for the three month period
ended February 28, 2005. These expenses consist primarily of professional fees
and other corporate expenses, including business development and general legal
activities. Interest expense increased by $5,130 for the three month period
ended February 28, 2005 from $21,466 for the three month period ended February
29, 2004 primarily due to the Company's borrowing of $1,000,000 from Crown Mill
Restoration Development LLC in October 2004. Included in realized loss on
marketable securities is a loss on one security that totaled $556,712. This was
the result of the return of marketable securities that had previously increased
in fair market value at the request of a client of the Company which terminated
its agreement with the Company in December 2004, resulting in the recording of

                                       13

<PAGE>


an unrealized gain in prior periods. The client company had prepaid one year of
service with securities, and upon termination, The MacReport.Net returned the
securities that represented the period of services not performed. A realized
loss was recognized on the adjustment of the previously recorded increase in
fair market value on these shares.


Liquidity and Capital Resources

In February 2005, the Company sold 1,000,000 shares of its common stock to one
individual for two million dollars ($2,000,000). The shares of common stock are
restricted. The issuance of the securities in the transaction were deemed to be
exempt from registration under the Securities Act of 1933, as amended, in
reliance on Section 4(2) of the Securities Act and Regulation D promulgated
thereunder as transactions by an issuer not involving any public offering.

In October 2004, Marcellus Group, LLC, the Company's wholly owned subsidiary,
borrowed one million dollars ($1,000,000) from Crown Mill Restoration
Development LLC, a New York limited liability company wholly owned by V. William
Lucchetti, Jr., the Company's Chief Executive Officer, Chairman of the Board of
Directors and 92% shareholder of the Company, pursuant to a promissory note. The
terms of the promissory note provides that interest accrues at a rate of eight
percent (8%) and the principal and interest is payable as follows: (i) monthly
installments of $25,947 (representing accrued interest and $500,000 of
principal) up to and including November 1, 2006; and (ii) $500,000 payment due
on November 1, 2006.

As of February 28, 2005, we had $2,081,329 in cash and cash equivalents.

Current and Future Financing Needs

We have spent, and expect to continue to spend, substantial amounts in
connection with growing our customer base. We have 20 full time employees and 20
part 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:

     o    costs associated with any acquisitions targets;

     o    costs associated with marketing our services; and

     o    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.

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<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.

                                       15

<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.

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

In February 2005, the Company sold 1,000,000 shares of its common stock to one
accredited individual for two million dollars ($2,000,000). The shares of common
stock are restricted. The issuance of the securities in the transaction were
deemed to be exempt from registration under the Securities Act of 1933, as
amended, in reliance on Section 4(2) of the Securities Act and Regulation D
promulgated thereunder as transactions by an issuer not involving any public
offering.

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

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. As of February 28, 2005, the note has
not been repaid, but the Company is in the process of restructuring the note
with the individual.

Convertible promissory notes totaling $174,059 bear interest at a rate of 8% per
annum with maturity dates that have expired. Pursuant to the terms of the
convertible notes, if the Company does not prepay the notes prior to their
expiration, on the expiration date, the Company may convert the balance due
together with accrued interest into shares of the Company's common stock. The
conversion ratio for these notes is the greater of : (i) 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 (ii) 3.50. The Company is currently in negotiations with these note
holders with respect to the conversion of notes into common stock and expects to
convert the notes within 30 days.

                                       16

<PAGE>


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

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

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

a)  Exhibits

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

Exhibit 32.1        Certification by V. William Lucchetti, CEO & CFO, 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

                                       17

<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:  April 15, 2005

                                       18