UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB

(Mark One)

[X]     Quarterly  Report  pursuant to Section 13 or 15(d) of the Securities and
        Exchange Act of 1934 For the quarterly period ended: June 30, 1998

                                       or

[  ] Transition  report  pursuant to Section 13 or 15(d) of the Securities and
     Exchange Act of 1934 

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

Commission file number:      0-24408

                            INTERJET NET CORPORATION
        (Exact name of small business issuer as specified in its charter)

           Delaware                                   33-0611753
(State or other jurisdiction of                     (IRS Employer
 incorporation or organization)                    Identification Number)

13405 NW Freeway, Suite 228 Houston, Texas                       77095
 (Address of principal executive offices)                     (Zip Code)

Registrant's telephone number, including area code:  (713) 462-4222

         Indicate by check mark whether the registrant (1) has filed all reports
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. Yes X No

         The number of shares  outstanding of the  registrant's  common stock on
August 10, 1998 was 13,624,282.




<PAGE>



                         PART I - FINANCIAL INFORMATION

ITEM 1. Financial Statements.

         The  following  Condensed  Consolidated  Financial  Statements  of  the
Company and its subsidiaries and related notes are included herein:


         Condensed Consolidated Balance Sheet as of June 30, 1998;

         Condensed Consolidated  Statements of Income for the three months ended
June 30, 1998 and June 30, 1997  presented on a pro-forma  basis  reflecting the
acquisition of InterJet Net, Inc.;

         Condensed  Consolidated  Statement  of Cash Flows for the three  months
ended June 30, 1998 and June 30, 1997 presented on a pro-forma basis  reflecting
the acquisition of InterJet Net, Inc.;

         Notes to Condensed Consolidated Financial Statements.




<PAGE>



                            INTERJET NET CORPORATION
                      CONDENSED CONSOLIDATED BALANCE SHEET
                                  June 30, 1998
                                   (Unaudited)



<TABLE>
<CAPTION>
ASSETS
Current Assets
<S>                                                                             <C>          
   Cash                                                                         $     443,761
   Accounts Receivable                                                                 39,447
   Stock Subscription Receivable                                                      975,000
   Prepaid Expenses                                                                     4,757
   Loan to Shareholder                                                                 21,063
   Inventory                                                                          210,511
                                                                                -------------

                                                       Total Current Assets         1,694,539

Property, Plant, and Equipment                                                        966,297

Other Assets
   Organizational Costs                                                                 8,430
   Deposits                                                                            16,258
   Licenses and Other                                                                 761,474
                                                                                -------------
                                                                                      786,162
                                                                                -------------

                                                               TOTAL ASSETS     $   3,446,998
                                                                                =============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
   Accounts Payable                                                             $     364,291
   Accrued Liabilities                                                                 44,706
   Income Taxes Payable                                                                   800
   Note Payable                                                                             0
   Loans from Shareholders                                                              4,940
   Current Portion of Long-term Debt                                                   18,319
                                                                                -------------

                                                  Total Current Liabilities           433,056

Long-Term Debt                                                                         44,622
                                                                                -------------

                                                          Total Liabilities           477,678

Stockholders' Equity 
   Common stock, $.001 par value:
     Authorized 200,000,000 shares;
     Issued and Outstanding 13,504,282                                                 13,504
   Additional Paid-in Capital                                                       6,310,295
   Retained Earnings (Deficit)                                                     (3,354,479)
                                                                                -------------

                                 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY     $   3,446,998
                                                                                =============
</TABLE>


See Notes to Condensed Consolidated Financial Statements.


<PAGE>



                            INTERJET NET CORPORATION
                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                    Three Months ended June 30, 1998 and 1997
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                                      1998              1997
                                                                                  -------------    -------------
<S>                                                                               <C>              <C>          
Revenues                                                                          $     179,851    $           0
Cost of Sales                                                                            97,270                0
                                                                                  -------------    -------------

                                                                 Gross Profit            82,581                0

General and Administrative Expenses
   Professional Services                                                                142,537           23,597
   Salaries - Officers                                                                   52,200           43,750
   Salaries - Others                                                                    226,139           46,915
   Payroll Taxes & Benefits                                                              26,860            2,405
   Office Expenses                                                                       19,193            7,520
   Advertising & Marketing                                                              105,253              115
   Auto Expenses                                                                          7,816           13,653
   Travel & Entertainment                                                                96,730           24,236
   Computer Expenses                                                                      9,067            1,597
   Depreciation & Amortization                                                           40,609                0
   Channel Lease Payments                                                                13,750                0
   Equipment Lease Payments                                                              11,291                0
   Postage & Delivery                                                                    10,848            1,788
   Insurance                                                                             23,227            8,177
   Interest Expense                                                                           7            3,096
   Rent                                                                                  36,020           20,538
   Temporary Help & Outside Services                                                     11,107                0
   Tower Lease Payments                                                                   4,640            1,000
   Telephone Expenses                                                                    24,002            9,321
   Taxes - Other                                                                          3,656                0
                                                                                  -------------    -------------

                                    Total General and Administrative Expenses           864,942          207,708

Interest Income                                                                           1,080                0
State Income Taxes                                                                            0             (800)
                                                                                  -------------    -------------

                                                            NET INCOME (LOSS)     $    (781,281)   $    (208,508)
                                                                                  =============    =============
</TABLE>


See Notes to Condensed Consolidated Financial Statements.


<PAGE>



                            INTERJET NET CORPORATION
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
                    Three Months Ended June 30, 1998 and 1997
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                                      1998              1997
                                                                                  -------------    -------------
OPERATING ACTIVITIES
<S>                                                                               <C>              <C>           
   Net Income (Loss)                                                              $    (781,281)   $    (208,508)
   Adjustments:
     Depreciation and Amortization                                                       40,609                0
     Expenses Paid with Common Stock                                                     88,948          174,230
     Changes in Current Accounts                                                       (162,564)        (237,229)
                                                                                  -------------    -------------
                                    Net Cash Required by Operating Activities          (814,288)        (271,507)

INVESTING ACTIVITIES
   Purchase of Inventory                                                               (165,677)        (128,688)
   Purchase of Fixed Assets                                                            (104,407)        (322,751)
   Purchase of Licenses                                                                       0         (745,183)
   Licenses Above Paid for in Common Stock                                                    0          549,000
                                                                                  -------------    -------------
                                    Net Cash Required by Investing Activities          (270,084)        (647,622)

FINANCING ACTIVITIES
   Loans                                                                                 (4,250)               0
   Repayment of Loans                                                                   (17,540)               0
   Sale of Common Stock                                                               1,486,620        1,326,000
                                                                                  -------------    -------------
                                    Net Cash Provided by Financing Activities         1,464,830        1,326,000
                                                                                  -------------    -------------

Increase (Decrease) in Cash and Cash Equivalents                                        380,458          406,871

CASH AND CASH EQUIVALENTS
   Beginning of Period                                                            $      63,303    $           0
                                                                                  -------------    -------------
   End of Period                                                                  $     443,761    $     406,871
                                                                                  =============    =============
</TABLE>



See Notes to Condensed Consolidated Financial Statements.


<PAGE>



                            INTERJET NET CORPORATION
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                  June 30, 1998

NOTE 1:           BASIS OF PRESENTATION

The  accompanying  unaudited  condensed  consolidated  financial  statements  of
InterJet Net Corporation and its  wholly-owned  subsidiaries  InterJet Net, Inc.
Access  Communication,  Inc.,  and Webit of Utah,  Inc.,  have been  prepared in
accordance with generally accepted  accounting  principals for interim financial
information and with the  instructions to Form 10-Q and Rule 10-01 of Regulation
S-X.  Accordingly,  they do not include  all of the  information  and  footnotes
required by generally  accepted  accounting  principals  for complete  financial
statements.  In  the  opinion  of  the  Company's  management,  all  adjustments
(consisting of normal accruals)  considered necessary for a fair presentation of
these financial statements have been included.

The Company was  essentially  inactive prior to the acquisition of InterJet Net,
Inc., a Nevada  Corporation (See Note 2 below).  As such,  comparable  financial
statements  have been  presented on a pro-forma  basis using only the  financial
numbers for InterJet Net, Inc. for the period ending June 30, 1997.

NOTE 2:           CAPITALIZATION

The Company was incorporated in the State of Delaware under the name Picometrix,
Inc. on June 11, 1992 and authorized 20,000,000 shares of $0.01 par value common
stock.  On June 30, 1997 the Company  effected a  2.3399365-for-1  share forward
stock split.  The split increased the total  outstanding  shares from 579,600 to
1,356,377.  On  August  8,  1997 the  Company  issued  9,964,286  shares of post
forward-split  stock to InterJet Net, Inc. in  conjunction  with the purchase of
all of the  outstanding  stock of InterJet Net, Inc.  Immediately  following the
acquisition of InterJet Net, Inc., the Company  conducted a private placement of
680,000 shares of its common stock at a price of $1.95 per share.  This offering
was completed on August 27, 1997.

The Company has entered into various private  placement  offerings and offerings
under  Regulation S of the  Securities  and Exchange Act of 1933.  To date these
offerings  have been for a total of  1,200,000  shares of common  stock with the
Company receiving net proceeds of $3,177,284.

NOTE 3:           RELATED PARTY TRANSACTIONS

The  officers  and  directors  of the  Company are  involved  in other  business
activities  and  may,  in  the  future,   become   involved  in  other  business
opportunities.  If a  specific  business  opportunity  becomes  available,  such
persons may face a conflict in selecting  between the Company and their business
interests.  The Company has not  formulated a policy for the  resolution of such
conflicts.

NOTE 4:           INCOME TAXES

The Company has available at December 31, 1997, net operating loss carryforwards
of approximately  $2,500,000  which may provide future tax benefits  expiring in
June of 2010.

NOTE 5:           WARRANTS TO PURCHASE COMMON STOCK

At June 30, 1998,  there are outstanding  512,821  warrants to purchase  512,821
shares of common stock at $1.95 per share.  These warrants  expire on August 27,
1998. The Company anticipates the party holding these warrants will exercise its
warrant to purchase these shares prior to the expiration of the warrants.

NOTE 6:           STOCK SUBSCRIPTION RECEIVABLE

The Company sold 600,000 shares of its Common Stock on June 3, 1998,  subject to
receipt of the  subscription  price of  $1,486,620.  The final  installment  was
received  on July  27,  1998.  For  purposes  of  these  condensed  consolidated
financial statements, it is assumed that the shares were issued on June 3, 1998.

NOTE 7:           SUBSEQUENT EVENTS

See "PART II - Item 5. Other Information".




<PAGE>



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

The  Company's  loss for the  three  months  ended  June 30,  1998 was  equal to
$781,281.  The loss for the three month  period ended June 30, 1997 was prepared
on a pro-forma basis reflecting the activity of InterJet Net, Inc., which is now
a  wholly-owned  subsidiary of the Company.  The loss for InterJet Net, Inc. for
the  period  ended  June 30,  1997 was equal to  $208,508.  During  this  period
InterJet Net, Inc. was in a development  stage. The loss for the current quarter
was primarily attributable to the Company's Selling,  General and Administrative
Expenses of which salaries, travel,  professional fees and marketing made up the
largest amount.  The increased loss this quarter,  compared to the losses in the
previous  quarters,  reflects the  implementation  of the  Company's  aggressive
growth  strategy.  The  increased  expenses  also reflect the activity of Access
Communications, Inc., a wholly owned subsidiary of the Company which operates as
an Internet service provider in Houston, Texas.

Total  salaries of $278,339 were paid or accrued for the three months ended June
30,  1998.  This equated to 32.2% of the total  expenses  for the quarter  which
totaled $864,942. This salary expense is compared to $90,665 (which was 43.7% of
total  expenses of $207,708)  incurred by InterJet Net, Inc. in the three months
ended June 30, 1997.  Travel and related costs equaled  $96,730 for the quarter,
or  approximately  11.2% of total  expenses.  The Company  incurred  expenses of
$142,537 on professional fees, or 16.5% of total expenses for the quarter.  This
includes amounts paid to attorneys, accountants,  engineers and consultants. The
Company  incurred  significant  legal fees with  respect to the  acquisition  of
Access  Communications,  Inc. This  acquisition  also  increased  accounting and
engineering fees. The Company pays several individuals as consultants, including
engineers,   outside  accountants  and  business  consultants.  The  total  cost
advertising  and  marketing  expenses for the quarter  totaled  $105,253 for the
three months ended June 30, 1998.  This  represented to 12.2% total expenses for
the quarter.

The Company  produced  gross revenues of $179,851 for the quarter ended June 30,
1998.  Of these  revenues,  $117,955  were  derived from the  Company's  Houston
operations  (Access  Communications,  Inc.).  This  represents  65.6%  of  total
revenues  for the quarter.  Revenues  for Salt Lake and  Beaumont  were equal to
$54,801 and $7,095,  or 30.5% and 3.9%,  respectively.  The Company  anticipates
generating   additional  revenues  from  existing  operations  as  well  as  new
operations in the Orange County,  California market in the next quarter. Neither
the Company or InterJet Net, Inc.  generated  revenues in the quarter ended June
30, 1997.

The Company has current assets  totaling  $1,694,539 at June 30, 1998 with total
net  working  capital  of  $1,261,483.  This  equates  to  a  current  ratio  of
approximately 3.91.

                           PART II - OTHER INFORMATION

ITEM 5.           Other Information.

         Acquisition of Webit of Utah, Inc.  Effective June 1, 1998, the Company
acquired Webit of Utah, Inc. ("Webit") as a wholly-owned subsidiary. Webit is an
operating web hosting  company in Salt Lake City,  Utah.  The Company  exchanged
20,000  shares of its common  stock for all of the  outstanding  stock of Webit.
Also in connection with the  acquisition,  the Company made certain  payments of
$9,000 and assumed a note in the amount of $15,000.

         Letter of Intent with  Visual  Numerics,  Inc.  Pursuant to a Letter of
Intent dated June 15, 1998, the Company has agreed to acquire  Visual  Numerics,
Inc. ("VNI"). The terms of the acquisition include the Company issuing 2,200,000
shares of its common stock in exchange for all of the outstanding  stock in VNI.
The  Company  would  assume   substantial   liabilities  of  VNI  in  additional
consideration. The Company is currently involved in due diligence on VNI.

VNI was  incorporated  in 1970  under the name  International  Mathematical  and
Statistical Libraries, Inc. VNI is one of the world's leading and most respected
software providers of computational algorithm libraries and visual data, used by
scientists,  researchers, engineers and information technology professionals, to
perform  complex  numerical  and   computational   functions  used  in  computer
applications.  Its client list includes more than 500,000 business and technical
professionals  from 65 countries  around the world.  Four hundred of the Fortune
1000 companies are clients,  including GE, Hewlett-Packard,  Ford, BMW, Lockheed
Martin, AT&T, Harvard,  MIT, Swiss Bank, Motorola,  McDonnell Douglas,  Chevron,
etc.

With  headquarters  in Houston,  VNI is  privately  held with offices in France,
Germany, Japan, Taiwan, Korea, Mexico, the United Kingdom and Boulder, Colorado.
The  Company  grossed $23  million in net sales in the year ended  December  31,
1997.



<PAGE>



The Company  believes  that in offering  its  various  Internet  services to the
existing client base of VNI, that it will be able to substantially  increase its
revenues.

ITEM 6.           Exhibits and Reports on Form 8-K

Reports of Form 8-K

None.


                                   SIGNATURES

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

Dated:            August 18, 1998

                                INTERJET NET CORPORATION



                                   /s/
                                Jon H. Marple, President, Chairman, and
                                Chief Financial Officer


                                   /s/
                                Mary E. Blake, Vice President and Director