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 quarter period ended September 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        

                            IJNT INTERNATIONAL, INC.
             (Exact name of registrant as specified in its charter)

                            InterJet Net Corporation
                                  (Former Name)

                    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
November 10, 1998 was 14,910,216.






<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 Sheets as of March 31, 1998 and September
 30, 1998;

         Condensed  Consolidated  Statements  of  Income  for the  three and six
months ended  September 30, 1998, for the three months ended  September 30, 1998
and  pro-forma  results  ended  September  30, 1997 and for the six months ended
September 30, 1998 and pro-forma results ended September 30, 1997;

         Condensed Consolidated Statement of Cash Flows for the six months ended
September 30, 1998 and pro-forma as of September 30, 1997;

         Notes to Condensed Consolidated Financial Statements.






<PAGE>



                            IJNT International, Inc.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                      MARCH 31, 1998 AND SEPTEMBER 30, 1998

<TABLE>
<CAPTION>
                                                                            (Audited)       (Unaudited)
                                                                            March 31,      September 30,
                                                                              1998             1998     
                                                                         -------------    --------------
ASSETS
Current Assets:
<S>                                                                      <C>              <C>           
   Cash                                                                  $      63,303    $    2,482,347
   Accounts Receivable                                                          39,912           151,024
   Stock Subscription Receivable                                               794,325                 0
   Prepaid Expenses                                                             12,108           150,832
   Loan to Shareholder                                                               0            38,246
   Short-Term Receivable                                                             0            25,336
   Inventory                                                                    44,834           313,795
                                                                         -------------    --------------
   Total Current Assets                                                        954,482         3,161,580

Property, Plant & Equipment                                                    975,839         1,399,043

Other Assets:
   Organizational Costs                                                          8,992             7,868
   Deposits                                                                      8,907            47,347
   Licenses and Other                                                          761,475           972,852
                                                                         -------------    --------------
                                                                               779,374         1,028,067

TOTAL ASSETS                                                             $   2,709,695    $    5,588,690
                                                                         =============    ==============

LIABILITIES & SHAREHOLDERS EQUITY Current Liabilities:
   Accounts Payable                                                      $     490,244    $      206,507
   Accrued Liabilities                                                          46,392            63,448
   Income Taxes Payable                                                            800               800
   Note Payable                                                                 35,000                 0
   Loans from Shareholders                                                      13,690             4,940
   Current Portion of Long-Term Debt                                            19,913            32,378
                                                                         -------------    --------------
   Total Current Liabilities                                                   606,039           308,073

Long-Term Debt                                                                  49,162            42,966
                                                                         -------------    --------------
   Total Liabilities                                                           655,201           351,039

Shareholders Equity:
   Common Stock, $.001 par value;
   Authorized 20,000,000 shares;
   Issued and Outstanding 12,854,145
   at March 31, 1998 and 14,910,216
   at September 30, 1998                                                        12,854            14,910
   Additional Paid-in Capital                                                4,614,838         9,502,492
   Retained Earnings (Deficit)                                              (2,573,198)       (4,279,751)
                                                                         -------------    --------------
   Total Shareholder's Equity                                                2,054,494         5,237,651
                                                                         -------------    --------------

TOTAL LIABILITIES & EQUITY                                               $   2,709,695    $    5,588,690
                                                                         =============    ==============
</TABLE>



            See Notes to Condensed Consolidated Financial Statements.



<PAGE>



                            IJNT International, Inc.
                   CONDENSED CONSOLIDATED STATEMENT OF INCOME
                  THREE AND SIX MONTHS ENDED SEPTEMBER 30, 1998
                                   (UNAUDITED)


<TABLE>
<CAPTION>
                                                                          Three Months    Six Months
                                                                              Ended            Ended
                                                                            9/30/98           9/30/98
                                                                         -------------    --------------
<S>                                                                      <C>              <C>           
Revenues                                                                 $     372,875    $      544,067

Cost of Sales                                                                   64,571           144,532
                                                                         -------------    --------------

Gross Profit                                                                   308,304           399,535

General & Administrative Expenses:
Professional Services                                                          335,866           475,635
Salaries - Officers                                                             65,395           117,595
Salaries - Others                                                              365,246           591,384
Payroll Taxes & Benefits                                                        53,061            92,141
Office Expenses                                                                 35,659            57,819
Advertising & Marketing                                                        109,267           213,829
Auto Expense                                                                     7,930            15,746
Travel & Entertainment                                                          24,823           122,081
Computer Expenses                                                               12,383            16,916
Depreciation & Amortization                                                     57,457            98,067
Channel Lease Payments                                                         (15,605)           (1,855)
Equipment Lease Payments                                                        16,922            40,991
Postage & Delivery                                                              10,935            21,026
Insurance                                                                       12,645            23,654
Interest Expense                                                                 1,097             1,098
Rent                                                                            36,719            72,741
Temporary Help & Outside Services                                               12,187            24,409
Tower Lease Payments                                                             3,195             7,835
Telephone Expense                                                              108,436           132,437
Taxes - Other                                                                   (1,469)            2,187
                                                                         -------------    --------------
Total General & Administrative                                               1,252,149         2,125,736

Interest Income                                                                 18,569            19,649
State Income Taxes                                                                   0                 0
                                                                         -------------    --------------

Net Income (Loss)                                                        $    (925,276)   $   (1,706,552)
                                                                         =============    ==============
</TABLE>




            See Notes to Condensed Consolidated Financial Statements.



<PAGE>



                            IJNT International, Inc.
                   CONDENSED CONSOLIDATED STATEMENT OF INCOME
          THREE MONTHS ENDED SEPTEMBER 30, 1997 and SEPTEMBER 30, 1998
                                   (UNAUDITED)


<TABLE>
<CAPTION>
                                                                            Pro-Forma
                                                                          Three Months     Three Months
                                                                              Ended            Ended
                                                                            9/30/97           9/30/98
                                                                         -------------    --------------
<S>                                                                      <C>              <C>           
Revenues                                                                 $           0    $      372,875

Cost of Sales                                                                    5,744            64,571
                                                                         -------------    --------------

Gross Profit                                                                    (5,744)          308,304

General & Administrative Expenses:
Professional Services                                                           89,663           335,866
Salaries - Officers                                                             54,175            65,395
Salaries - Others                                                               64,175           365,246
Payroll Taxes & Benefits                                                         9,654            53,061
Office Expenses                                                                 26,838            35,659
Advertising & Marketing                                                         31,806           109,267
Auto Expense                                                                     5,527             7,930
Travel & Entertainment                                                          37,563            24,823
Computer Expenses                                                                    0            12,383
Depreciation & Amortization                                                     18,785            57,457
Channel Lease Payments                                                           1,600           (15,605)
Equipment Lease Payments                                                             0            16,922
Postage & Delivery                                                               5,757            10,935
Insurance                                                                        8,224            12,645
Interest Expense                                                                 2,829             1,097
Rent                                                                            29,771            36,719
Temporary Help & Outside Services                                                3,406            12,187
Tower Lease Payments                                                             1,915             3,195
Telephone Expense                                                               20,132           108,436
Taxes - Other                                                                    1,326            (1,469)
                                                                         -------------    --------------
Total General & Administrative Expenses                                        413,146         1,252,149

Interest Income                                                                  5,308            18,569
State Income Taxes                                                                   0                 0
                                                                         -------------    --------------

Net Income (Loss)                                                        $    (413,582)   $     (925,276)
                                                                         =============    ==============
</TABLE>




            See Notes to Condensed Consolidated Financial Statements.



<PAGE>



                            IJNT International, Inc.
                   CONDENSED CONSOLIDATED STATEMENT OF INCOME
           SIX MONTHS ENDED SEPTEMBER 30, 1997 and SEPTEMBER 30, 1998
                                   (UNAUDITED)


<TABLE>
<CAPTION>
                                                                            Pro-Forma
                                                                           Six Months       Six Months
                                                                           9/30/97           9/30/98
                                                                         -------------    --------------
<S>                                                                      <C>              <C>           
Revenues                                                                 $           0    $      544,067

Cost of Sales                                                                    5,744           144,532
                                                                         -------------    --------------

Gross Profit                                                                    (5,744)          399,535

General & Administrative Expenses:
Professional Services                                                          113,259           475,635
Salaries - Officers                                                             97,925           117,595
Salaries - Others                                                              111,091           591,384
Payroll Taxes & Benefits                                                        20,915            92,141
Office Expenses                                                                 22,236            57,819
Advertising & Marketing                                                         33,939           213,829
Auto Expense                                                                    19,179            15,746
Travel & Entertainment                                                          61,799           122,081
Computer Expenses                                                                4,059            16,916
Depreciation & Amortization                                                     18,785            98,067
Channel Lease Payments                                                           1,500            (1,855)
Equipment Lease Payments                                                             0            40,991
Postage & Delivery                                                               7,545            21,026
Insurance                                                                        7,545            23,654
Interest Expense                                                                 5,925             1,098
Rent                                                                            50,308            72,741
Temporary Help & Outside Services                                               11,148            24,409
Tower Lease Payments                                                             2,915             7,835
Telephone Expense                                                               29,453           132,437
Taxes - Other                                                                    1,326             2,187
                                                                         -------------    --------------
Total General & Administrative                                                 620,852         2,125,736

Interest Income                                                                  5,307            19,649
State Income Taxes                                                                 800                 0
                                                                         -------------    --------------

Net Income (Loss)                                                        $    (622,089)   $   (1,706,552)
                                                                         =============    ==============
</TABLE>




            See Notes to Condensed Consolidated Financial Statements.



<PAGE>



                            IJNT International, Inc.
                 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
           SIX MONTHS ENDED SEPTEMBER 30, 1997 and SEPTEMBER 30, 1998
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                            Pro-Forma
                                                                           Six Months     Six Months
                                                                              Ended            Ended
                                                                            9/30/97           9/30/98
                                                                         -------------    --------------
OPERATING ACTIVITIES
<S>                                                                      <C>              <C>            
   Net Income (Loss)                                                     $    (622,089)   $   (1,706,552)

   Adjustments:
   Depreciation and Amortization                                                18,785            98,067
   Expenses Paid with Common Stock                                             321,252           481,548
   Changes in current accounts                                                  49,143           129,782
                                                                         -------------    --------------
Net Cash Required by Operating Activities                                     (232,909)         (997,155)

INVESTING ACTIVITIES
   Purchase of Inventory                                                             0          (268,961)
   Purchase of Fixed Assets                                                   (693,276)         (325,137)
   Purchase of Licenses                                                        (97,220)                0
   Deposits                                                                          0           (38,440)
                                                                         -------------    --------------
Net Cash Required by Investing Activities                                     (790,496)         (632,538)

FINANCING ACTIVITIES
   Loans                                                                        42,793           (51,117)
   Repayment of Loans                                                           (4,861)          (49,946)
   Sale of Common Stock                                                      1,978,716         4,149,800
                                                                         -------------    --------------
Net Cash Provided (Required) by Investing Activities                         2,016,648         4,048,737

Increase (Decrease) in Cash and Cash Equivalents                               993,243         2,419,044

Cash and Cash Equivalents at
   Beginning of Period                                                               0            63,303
                                                                         -------------    --------------

Cash and Cash Equivalents at
   End of Period                                                         $     993,243    $    2,482,347
                                                                         =============    ==============
</TABLE>



            See Notes to Condensed Consolidated Financial Statements.



<PAGE>



                            IJNT INTERNATIONAL, INC.
                   formerly known as INTERJET NET CORPORATION
                             A DELAWARE CORPORATION
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                SIX MONTHS ENDED
                    SEPTEMBER 30, 1997 AND SEPTEMBER 30, 1998

NOTE 1:           BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been
prepared in accordance with generally accepted accounting principals for interim
financial information and with the instructions to Form 10-QSB 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,  now known as IJNT,  Inc. (See Note 2 below).  This
acquisition was completed in August of 1997. Where appropriate,  the Company has
used pro-forma financial information which includes the activity of IJNT, Inc.
prior to the acquisition in presenting comparative financial results.

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  changed its name to InterJet Net
Corporation  and 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. This quarter the Company changed its name to IJNT International,  Inc. and
InterJet Net, Inc., a wholly owned  subsidiary of the Company,  changed its name
to IJNT, Inc.

The Company has entered into various private  placement  offerings and offerings
under  Regulation S of the  Securities and Exchange Act of 1933. As of March 31,
1998,  the  Company  had sold a total of 642,582  shares of its common  stock in
various  offerings with net proceeds to the Company  totaling  $1,189,846.  This
fiscal  year (from the period from April 1, 1998 to  September  30,  1998),  the
Company has sold an additional  1,360,825 shares with net proceeds of $4,060,436
resulting  from such  sales.  Of these  sales,  660,825  shares were sold in the
quarter ended September 30, 1998 with net proceeds of $1,382,143.

In the six months  ended  September  30,  1998,  the Company has issued  131,112
shares  of its  common  stock  for  services  rendered  to and on  behalf of the
Company.

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.





<PAGE>



As of September 30, 1998,  the Company has loaned $38,246 to the officers of the
Company and their wholly owned subsidiary. As of March 31, 1998, the Company had
borrowed $13,960 from these same officers.

NOTE 4:           INCOME TAXES

The Company has  available at September 30, 1998,  estimated net operating  loss
carryforwards of approximately  $4,250,000 which may provide future tax benefits
expiring in June of 2010.

NOTE 5:           WARRANTS TO PURCHASE COMMON STOCK

On August 27,  1998,  a holder of  warrants to  purchase  512,821  shares of the
Company's  common  stock at $1.95 per share  exercised  these  options.  The net
proceeds to the Company were $1,000,000.  These  represented the only issued and
outstanding warrants or options to purchase the Company's common stock.

NOTE 6:           STOCK SUBSCRIPTION RECEIVABLE

As of March 31, 1998,  the Company had sold 500,000  shares of its Common Stock,
subject to receipt of the subscription price of $890,635.  The final installment
was  received  in May of 1998.  For  purposes  of these  condensed  consolidated
financial statements, it was assumed that the shares were issued as of March 31,
1998.

NOTE 7:           ACQUISITIONS

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.

Effective  August 5, 1998,  the Company  acquired  Man Rabbit  House  Multimedia
("MRHM") as a  wholly-owned  subsidiary.  MRHM is a web design,  web hosting and
computer programming company located in Newport Beach,  California.  The Company
exchanged 25,000 shares of its common stock for all of the outstanding  stock of
MRHM.

On August 8, 1998,  the  Company  acquired  certain  software  rights and client
accounts  from Cedro Group,  Inc.  The Company  exchanged  10,288  shares of its
common stock for these rights.

The previously  announced Letter of Intent to acquire Visual Numerics,  Inc. has
been abandoned.

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  September 30, 1998 was equal to
$925,276.  The loss for the three  month  period  ended  September  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 which has changed its name
to IJNT,  Inc.  ("IJNT").  The loss for the Company on a pro-forma basis for the
three month period ended  September 30, 1997 was equal to $413,582.  The loss in
the current quarter was primarily attributable to the Company's Selling, General
and Administrative Expenses of which salaries, telephone,  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., , Man Rabbit House Multimedia and WebIt
of Utah,  Inc.,  which are now wholly owned  subsidiaries  of the  Company.  The
Company's  aggressive growth strategy has resulted in additional expenses due to
the aforementioned  acquisitions as well as increased  marketing and advertising
costs.

Total  salaries of  $460,641  were paid or accrued  for the three  months  ended
September 30, 1998.  This equated to 34.4% of the total expenses for the quarter
which totaled $1,252,149. This salary expense is compared to $118,350 (which was
28.6% of total  expenses  of  $413,146)  incurred  by the Company on a pro-forma
basis in the three  months  ended  September  30,  1997.  The  Company  incurred
expenses of $335,866 on  professional  fees, or 26.8% 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.
There were  significant  costs  incurred  in the pursuit of the  acquisition  of
Visual Numerics, Inc., with which the Company decided not to continue. The total
cost advertising and marketing expenses for the quarter totaled $109,267 for the
three months ended September 30, 1998.  This  represented to 8.7% total expenses
for the quarter. The Company's  advertising and marketing expense in the quarter
ended September 30, 1997 was equal to $31,806, or 7.6% of total expenses.

The Company  produced gross revenues of $372,875 for the quarter ended September
30, 1998.  Of these  revenues,  $94,237 or 25.2% were derived from the Company's
Houston  operations  (Access  Communications,  Inc.) and  $124,814 or 33.4% were
derived  from  the  Company's  newly  acquired  subsidiary,   Man  Rabbit  House
Multimedia.  Revenues  for Salt Lake and  Beaumont  were equal to  $123,670  and
$23,259, or 33.2% and 6.2%,  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
IJNT,  Inc.  generated  revenues in the quarter ended  September  30, 1997.  The
revenues for the Company in the last quarter, which ended on June 30, 1998, were
equal to $171,192.  The revenues in the current quarter represent an increase of
118% compared to the quarter ended June 30, 1998.

The Company has current  assets  totaling  $3,161,580 at September 30, 1998 with
total net working  capital of  $2,853,507.  This  equates to a current  ratio of
approximately 10.2.





<PAGE>



                           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.  Access 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. In the current  quarter,  the
Company has decided not to pursue the  acquisition of Visual  Numerics,  Inc. in
order to continue to acquire companies and grow within the Internet industry.

         Acquisition of Man Rabbit House  Multimedia.  Effective August 5, 1998,
the Company  acquired Man Rabbit  House  Multimedia  ("MRHM") as a  wholly-owned
subsidiary.  MRHM is a web design, web hosting and computer  programming company
located in Newport Beach, California. The Company exchanged 25,000 shares of its
common stock for all of the outstanding stock of MRHM.

         Acquisition  from  Cedro  Group,  Inc.  On August  8, 1998 the  Company
acquired certain software rights and client accounts from Cedro Group,  Inc. The
Company exchanged 10,288 shares of its common stock for these rights.

ITEM 6.           Exhibits and Reports on Form 8-K


Reports on Form 8-K

None.







<PAGE>



                                   SIGNATURES

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

Dated:            November 16, 1998

                                            IJNT INTERNATIONAL, INC.



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


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