SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB


[X]  Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act
     of 1934.

     For the quarterly period ended June 30th, 2002

[ ]  Transition Report Under Section 13 or 15(d) of the Exchange Act.

Commission file number: 0-09358


                    MULTINET INTERNATIONAL CORPORATION., INC.
        (Exact name of small business issuer as specified in its charter)

           Nevada                                                 88-0441388
(State or other jurisdiction                                     (IRS Employer
      of incorporation)                                      Identification No.)



554 Greentree Cove, Suite 102, Collierville, TN                      38017
    (Address of principal executive offices)                      (Zip Code)

Registrant's telephone number, including area code:             (901)-854-3574

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for 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.
[X] Yes   [ ] No

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the last practicable date: 23,201,001 as of August 16th, 2002.
<PAGE>
ITEM 1. FINANCIAL STATEMENTS

                    MULTINET INTERNATIONAL CORPORATION, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                                  BALANCE SHEET
                                 JUNE 30, 2002
                                  (Unaudited)

                                     ASSETS

Current assets
   Interest receivable                                              $     2,218
   Prepaid expense                                                        2,827
                                                                    -----------
      Total current assets                                                5,045

Fixed assets, net                                                        40,673

Note receivable                                                          65,000

Deposit                                                                   1,435
                                                                    -----------

   Total assets                                                     $   112,153
                                                                    ===========

                      LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities
   Accounts payable and accrued expenses                            $    74,707
   Due to stockholder                                                   363,130
   Stock payable-related party                                          535,950
   Stocks payable                                                        10,000
                                                                    -----------
      Total current liabilities                                         983,787

Total liabilities                                                       983,787

Commitments and contingencies                                                --

Stockholders' deficit
   Common stock - $.001 par value, 50,000,000 shares
      authorized, 21,201,000 shares issued and outstanding               21,201
   Additional paid-in capital                                         1,127,455
   Prepaid consulting services paid common stock and warrants          (512,485)
   Accumulated deficit                                               (1,507,805)
                                                                    -----------
      Total stockholders' deficit                                      (871,634)
                                                                    -----------

   Total liabilities and stockholders' deficit                      $   112,153
                                                                    ===========

                 See Accompanying Notes to Financial Statements
<PAGE>
                    MULTINET INTERNATIONAL CORPORATION, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF OPERATIONS
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                                      For the period                     For the period
                                                                    from April 19, 2001                from April 19, 2001
                                                    For the three   (Date of Inception   For the six   (Date of Inception)
                                                     months ended        through         months ended        through
                                                    June 30, 2002     June 30, 2001     June 30, 2002     June 30, 2002
                                                     ------------      ------------      ------------      ------------
<S>                                                  <C>               <C>               <C>               <C>
Revenues
    Interest income                                  $        798      $         --      $        844      $      2,218
                                                     ------------      ------------      ------------      ------------

       Total revenues                                         798                --               844             2,218

General and administrative expenses
    Consulting fees                                       337,487           115,000           704,975         1,155,980
    Depreciation                                            2,516                --             4,595            11,475
    Other general and administrative expenses              43,703            97,868           100,312           342,568
                                                     ------------      ------------      ------------      ------------

       Total general and administrative expenses          383,706           212,868           809,882         1,510,023
                                                     ------------      ------------      ------------      ------------

Loss before provision for income taxes                   (382,908)         (212,868)         (809,038)       (1,507,805)

Income tax provisions                                          --                --                --                --
                                                     ------------      ------------      ------------      ------------

Net loss                                             $   (382,908)     $   (212,868)     $   (809,038)     $ (1,507,805)
                                                     ============      ============      ============      ============

Basic and diluted loss per common share              $      (0.02)     $      (0.01)     $      (0.04)     $      (0.08)
                                                     ============      ============      ============      ============

Basic and diluted weighted average
    common shares outstanding                          20,603,222        18,000,000        21,129,579        19,723,489
                                                     ============      ============      ============      ============
</TABLE>

                 See Accompanying Notes to Financial Statements
<PAGE>
                    MULTINET INTERNATIONAL CORPORATION, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                       STATEMENT OF STOCKHOLDERS' EQUITY
                       FOR THE PERIOD FROM APRIL 19, 2001
                (DATE OF INCEPTION FOR SHOWINTEL NETWORKS, INC.)
                             THROUGH JUNE 30, 2002

<TABLE>
<CAPTION>
                                                                                    Prepaid Consulting
                                                    Common stock                      Services Paid
                                             -------------------------   Additional    with Common                     Total
                                                Number                     Paid-in      Stock and     Accumulated   Stockholders'
                                              of Shares       Amount       capital       Warrants       Deficit        Equity
                                             -----------   -----------   -----------   -----------    -----------    -----------
<S>                                          <C>           <C>           <C>           <C>            <C>            <C>
Balance, April 19, 2001 (Date of Inception
  of Showintel Networks, Inc.)                        --   $        --   $        --   $        --    $        --    $        --

Common stock issued to the founder for
   cash, $0.0165 per share                    15,000,000        15,000       232,725            --             --        247,725

Common stock issued to the founder for
   services, $0.0165 per share                 3,000,000         3,000        46,500            --             --         49,500

Common stock issued for the acquisition
  of Multinet International Corporation,
  Inc., $0.001 per share                       2,431,000         2,431            --            --             --          2,431

Issuance of warrants for 1,000,000 shares
  of common stock to a consultant with a
  weighted average exercise price of $1.00            --            --       350,000      (291,666)            --         58,334

Net loss                                              --            --            --            --       (698,767)      (698,767)
                                             -----------   -----------   -----------   -----------    -----------    -----------

Balance, December 31, 2001                    20,431,000        20,431       629,225      (291,666)      (698,767)      (340,777)

Common stock issued for consulting
  services, $0.65 per share                      760,000           760       493,240      (370,500)            --        123,500

600,000 shares of common stock given to
  various consultants by the President/
  stockholder to satisfy consulting
  agreements, valued at $0.65 per share,
  in exchange for stock payable                       --            --            --      (535,950)            --       (535,950)

Expensed portion of prepaid consulting
  services                                            --            --            --       685,631             --        685,631

Issuance of 10,000 shares of common stock
  related to exercise of warrants at
  $0.50 per share                                 10,000            10         4,990            --             --          5,000

Net loss                                              --            --            --            --       (809,038)      (809,038)
                                             -----------   -----------   -----------   -----------    -----------    -----------

Balance, June 30, 2002 (Unaudited)            21,201,000   $    21,201   $ 1,127,455   $  (512,485)   $(1,507,805)   $  (871,634)
                                             ===========   ===========   ===========   ===========    ===========    ===========
</TABLE>

                 See Accompanying Notes to Financial Statements
<PAGE>
                    MULTINET INTERNATIONAL CORPORATION, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF CASH FLOWS
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                                                   For the period from
                                                                   For the six     April 19, 2001 (Date
                                                                   months ended   of Inception) through
                                                                  June 30, 2002        June 30, 2002
                                                                  -------------        -------------
<S>                                                                <C>                  <C>
Cash flows from operating activities:
  Net loss                                                         $  (809,038)         $(1,507,805)
  Adjustments to reconcile net loss to
   net cash used by operating activities:
    Stock based compensation                                           809,131              919,396
    Depreciation                                                         4,595               11,475
  Changes in operating assets and liabilities:
    Increase in interest receivable                                       (844)              (2,218)
    Increase in prepaid expenses                                            --               (2,827)
    Increase in deposit                                                     --               (1,435)
    Increase in accounts payable and accrued expenses                   39,219               74,707
    Increase (decrease) in stocks payable to consultants              (109,156)              10,000
                                                                   -----------          -----------

       Net cash used by operating activities                           (66,093)            (498,707)

Cash flows from investing activities:
  Loan related to note receivable                                      (25,000)             (65,000)
  Purchase of fixed assets                                              (4,872)             (52,148)
                                                                   -----------          -----------

       Net cash used by investing activities                           (29,872)            (117,148)

Cash flows from financing activities:
  Advances from stockholder                                             90,965              363,130
  Proceeds from issuance of common stock                                 5,000              252,725
                                                                   -----------          -----------

       Net cash provided by financing activities                        95,965              615,855
                                                                   -----------          -----------

Net change in cash                                                          --                   --

Cash, beginning of period                                                   --                   --
                                                                   -----------          -----------

Cash, end of period                                                $        --          $        --
                                                                   ===========          ===========

Supplementary cash flow information:
  Cash payments for interest                                       $        --          $        --
                                                                   ===========          ===========

Non-cash financing activities:
  Prepaid portion of consulting agreement related to issuance
    of warrants to purchase 1,000,000 shares of common stock       $        --          $   350,000
                                                                   ===========          ===========

  Prepaid portion of consulting agreement related to issuance
    of 760,000 shares of common stock                              $   494,000          $   247,000
                                                                   ===========          ===========

  Prepaid portion of consulting agreement related to 600,000
    shares of common stock given by President/shareholder
    to satisfy consulting agreement in exchange for stock
    payable                                                        $   535,950          $   148,819
                                                                   ===========          ===========
</TABLE>

                 See Accompanying Notes to Financial Statements
<PAGE>
                    MULTINET INTERNATIONAL CORPORATION, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)

NOTE 1 - BASIS OF PRESENTATION

The  accompanying  financial  statements  have been prepared in accordance  with
Securities  and  Exchange   Commission   requirements   for  interim   financial
statements.  Therefore, they do not include all of the information and footnotes
required by generally  accepted  accounting  principles  for complete  financial
statements.  The financial  statements  should be read in  conjunction  with the
Forms  10-KSB and  10-KSB/A  for the year ended  December  31,  2001 of Multinet
International Corporation, Inc. (the "Company").

The results of operations  for the interim  periods shown in this report are not
necessarily  indicative  of results  to be  expected  for the full year.  In the
opinion of management, the information contained herein reflects all adjustments
necessary  to make the  results of  operations  for the  interim  periods a fair
statement of such  operation.  All such  adjustments  are of a normal  recurring
nature.

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America 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.

NOTE 2 - GOING CONCERN

The  Company  incurred a net loss of  approximately  $1,508,000  the period from
April 19, 2001 (Date of Inception for Showintel Networks, Inc.) through June 30,
2002.  The  Company's   current   liabilities   exceed  its  current  assets  by
approximately  $443,000 as of June 30, 2002.  The  Company's  net cash used from
operating  activities  approximated  $499,000 for the period from April 19, 2001
(Date of Inception for Showintel  Networks,  Inc.) through June 30, 2002.  These
factors create an uncertainty about the Company's ability to continue as a going
concern.  The  Company's  management  plans to complete the  development  of the
infrastructure  necessary to deliver the video-streaming  technology in order to
fully  commence its  operations  and therewith  generate  future  revenues.  The
Company  will also seek  additional  sources of capital  through the issuance of
debt and equity  financing,  but there can be no assurance that the Company will
be successful in accomplishing its objectives.

The  ability of the  Company to  continue  as a going  concern is  dependent  on
additional  sources  of  capital  and the  success of the  Company's  plan.  The
financial  statements do not include any adjustments  that might be necessary if
the Company is unable to continue as a going concern.

NOTE 3 - NOTE RECEIVABLE

On July 16, 2001, the Company entered into an agreement to loan a principal sum,
with a maximum of $500,000, to See/Saw  Communications,  Inc., in exchange for a
convertible  promissory  note,  which  is  convertible  to a  10-15%  membership
interest in the entity. The President of See/Saw Communications,  Inc. serves as
a  Advisory  Board  Member  for the  Company,  see  Note 6.  The  percentage  of
membership interest would be determined by the exercise date based upon the loan
amount  outstanding,  with conversion  rights executed before February 22, 2003,
resulting up to a 10% interest and execution after the said date would result up
to a 15% interest. The note is due in yearly anniversary payments of interest at
8% per annum with the  outstanding  principal due on August 22, 2006. As of June
30, 2002,  the Company had loaned  $65,000 to this entity and recorded  interest
receivable of $2,218.
<PAGE>
                    MULTINET INTERNATIONAL CORPORATION, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 4 - DUE TO STOCKHOLDER

Due to  stockholder  totaling  $363,130  as of June 30,  2002  consisted  of the
following:

     Loans payable from the Company's President and majority
     stockholder, unsecured, interest rate of 10%, and
     accrued interest and principal due on July 1, 2002                $ 257,026

     Accrued interest related to loans
     payable from the Company's
     President and majority stockholder                                   22,104

     Accrued wages for the Company's
     President and majority stockholder                                   84,000
                                                                       ---------

                                                                       $ 363,130
                                                                       =========

NOTE 5 - STOCKS PAYABLE

As of June 30, 2002,  stock payable totaling $10,000 related to cash received on
a stock subscription for a total of 100,000 shares of the Company's common stock
at $0.10 per share.

NOTE 6 - RELATED PARTY TRANSACTIONS

On January 18, 2002, the Company entered into a management  consulting agreement
with several officers of See/Saw  Communications,  Inc. The President of See/Saw
Communications, Inc. serves as a Advisory Board Member for the Company, see Note
3. The agreement  provides for strategic  planning and general business services
for a period of one year in  consideration  of 760,000  shares of the  Company's
common  stock,   to  include   330,000   shares  to  the  President  of  See/Saw
Communications,  Inc.  The Company has valued  this  transaction  at $494,000 or
$0.65 per share  which will be expensed  over a period one year.  As of June 30,
2002,  the Company  issued  760,000  shares and recorded  $247,000 as consulting
expenses  and the  remaining  portion of $247,000  has been  included as part of
prepaid  consulting  services totaling $512,485 as of June 30, 2002, and will be
expensed over the remaining life of the agreement.

During   the  six   month   period   ended   June  30,   2002,   the   Company's
President/stockholder  had given 600,000  shares of the  Company's  common stock
owned by him to various consultants for payment on consulting agreements entered
into  during  2001.  The  value  of the  shares  at the  consummation  of  these
agreements  were  $0.65  per  share  which  the  Company  has  recorded  a stock
payable-related  party  totaling  $535,950  for these shares to be issued in the
future to the Company's  President/stockholder  as replacement.  The Company has
expensed  $267,975 for the six month period ended June 30, 2002 and $119,156 for
the year ended December 31, 2001 for a total accumulated  expense of $387,131 as
of June 30, 2002. The remaining  portion totaling  $148,819 has been included as
part of prepaid  consulting  services totaling $512,485 as of June 30, 2002, and
will be expensed over the remaining life of the agreement.
<PAGE>
                    MULTINET INTERNATIONAL CORPORATION, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 7 - CONSULTING SERVICES

In November 2001, the Company entered into a consulting agreement with a company
to provide corporate finance and advisory services for a period of twelve months
in consideration for warrants to purchase  1,000,000 shares of it's common stock
with an weighted  average  exercise price of $1.00.  The Company has valued this
transaction at $350,000 under SFAS No. 123. The Company has recorded  consulting
expenses  for  $175,000 for the six month period ended June 30, 2002 and $58,334
for the year ended  December 31, 2001 for a  cumulative  total of $233,334 as of
June 30,  2002.  The  remaining  amount of $116,666 in included as part  prepaid
consulting  services totaling $512,485 as of June 30, 2002, and will be expensed
over the remaining life of the agreement.

NOTE 8 - COMMON STOCK

During the six month  period  ended June 30,  2002,  the Company  issued  10,000
shares of its common  stock  related to the  exercise  of  warrants at $0.50 per
share.

In May 2002, the Company mistakenly issued 300,000 shares of unrestricted common
stock to two individuals.  Accordingly, these 300,000 shares are not included as
outstanding shares of common stock as of June 30, 2002. The Company has notified
the appropriate agencies of this transaction in an effort to obtain these shares
from these  individuals.  The  Company  believes it will  obtain  these  shares,
however, if these shares are not returned then an expense will be recorded based
upon the fair value of such  shares,  $0.35 per share,  at the date of  issuance
totaling $105,000.

NOTE 9 - SUBSEQUENT EVENTS

In July 2002, the Company entered into a common stock purchase agreement with an
investor  whereby the Company will sell an aggregate of 2,000,000  shares to the
investor  at $0.10 per  share  for a total of  $200,000.  The  Company  received
$200,000 in July 2002, and subsequently  issued 2,000,000 shares of common stock
in August 2002.  Provisions of the  agreement  allows the investor to sell their
shares to the Company  during the period and from time to time between  April 3,
2003 and July 3, 2003 for a cash purchase price of $0.19 per share. Furthermore,
the agreement  allows the Company to purchase  these shares from the investor at
$0.20 per share  during the period and from time to time between the date of the
agreement to April 3, 2003.
<PAGE>
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

This report contains  forward-looking  statements  within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. Actual results and events could differ materially from those projected,
anticipated,  or implicit, in the forward-looking  statements as a result of the
risk factors set forth below and elsewhere in this report. With the exception of
historical matters,  the matters discussed herein are forward looking statements
that involve risks and uncertainties.  Forward looking statements  include,  but
are not limited to, the date of  introduction  or  completion  of our  products,
projections  concerning  operations  and available cash flow. Our actual results
could  differ  materially  from the results  discussed  in such  forward-looking
statements.  The following  discussion of our financial condition and results of
operations  should be read in conjunction with our financial  statements and the
related notes thereto appearing elsewhere herein.

THE COMPANY

Multinet International Corporation, Inc. was incorporated on May 17, 1996 in the
State of Nevada. On September 26, 2001, the Company  consummated an agreement to
acquire all of the  outstanding  capital  stock of Showintel  Networks,  Inc., a
Nevada Corporation, in exchange for 18,000,000 shares of Multinet's common stock
("Showintel  Transaction").  Prior to the Showintel Transaction,  Multinet was a
non-operating  public company with no operations or assets; and 2,431,000 shares
of common stock  issued and  outstanding;  and  Showintel  Networks,  Inc. was a
privately  held  company  with  assets  being  used for the  development  of its
video-streaming technology.

Prior to the Showintel  Transaction,  the Company  operated a convenience  store
through Nikky D Corporation,  a wholly owned subsidiary.  In September 2001, the
Company divested itself of Nikky D.  Corporation.  The Company has accounted for
this  divestiture as a spin-off in accordance with Accounting  Principles  Board
Statement  No.  29.  As a  result  of this  divestiture,  the  Company  became a
non-operational public company.

Showintel Networks, Inc. ("Showintel") increases consumption of entertainment by
creating a system that interacts with the "entertainment  life-cycle." Combining
theater-based  advertising,  innovative  loyalty programs,  and  video-on-demand
(VOD) access to  pay-per-view  (PPV) and  subscription  services,  Showintel can
increase  loyalty  and revenue to a chain of  theaters,  increase  purchases  of
ancillary  products  (soundtracks,  DVDs,  videos,  merchandise),  and  create a
pinpoint targeted direct marketing  connection with  entertainment  consumers to
stimulate rentals and PPV. In addition,  some of the  infrastructure  investment
can generate incremental revenue through strategic  relationships with local ISP
and wireless network operators.

IN-THEATER  ADVERTISING  SYSTEM:  Showintel is placing  interactive  displays in
theaters that will offer advertising and coming  attractions that theater patron
can watch  passively  or  interactively.  We have an  exclusive  agreement  with
See/Saw  Communications,  LLC.  See/Saw was created in part by the principals of
Toolbox  Productions,  Inc.,  to sell the  advertising  space  on our  displays.
<PAGE>
Toolbox is a full service company,  uniquely qualified to sell, produce,  write,
edit and mix audio/video promotional campaigns and sales presentations.  Toolbox
was founded in 1995 as the exclusive  on-air  promotion  facility for the United
Paramount Network (UPN).  Clients include MGM, ABC, Sony,  Paramount and Studios
USA.

LOYALTY  PROGRAM:  As a reward for interacting  with the  advertising  displays,
theater patrons will be offered the opportunity to sign up for a loyalty program
that offers  them  discounts  on future  tickets as well as  discounted  or free
offers from sponsors of the loyalty program.

E-MAIL  MARKETING:  Once a part of the loyalty  program,  Showintel will collect
data on the  movies  seen.  This will  allow us to market  merchandise  directly
related to the films seen as well as  creating  offers  for  entertainment  of a
similar genre.

VOD INFRASTRUCTURE: As entertainment properties continue along the entertainment
lifecycle, Showintel will offer PPV and subscription services to the residential
and hospitality markets.

INFORMATION: Once Showintel knows which films a theater patron has seen, we will
create online  conversations  with them designed to obtain feedback on the shows
they have seen. This will be valuable to film producers and advertisers. It will
give us an advantage  in targeting  future  entertainment  opportunities  to the
consumer.

Currently the company has under  contract with two theater chains and one single
operator  representing  a total  of 45  sites  under  contract  to  install  the
company's IN THEATER  ADVERTISING  SYSTEM. 11 sites have the systems  installed.
The Memphis  theater sites have  high-speed  (T-1) broadband lines installed and
ready for hookup to the equipment upon installation.  The central VOD server has
been purchased and configured  with custom designed media  management  software.
Site based servers have been purchased and awaiting  installation at 16 prepared
sites.  The company has  interest  from a number of media buyers to purchase the
available   interactive   advertisement   space  contingent  upon  the  complete
installation of equipment at each theater site.

NO ASSURANCES THAT WE WILL BE ABLE TO ESTABLISH OUR SYSTEM

There  are  no  assurances,   however,  that  we  will  ever  be  successful  in
establishing our System or penetrating our target markets.  Due to the company's
low cash reserves,  additional  funds are required within the next few months to
complete the  installation of equipment needs at the sites under contract and to
proceed with the company's  business  plan.  The Company  intends to raise these
funds through  various  financial  arrangements  including  debt or equity.  The
company  has been  informed  that it will not be able to secure a line of credit
from any financial  institution  to supplement its cash flow needs until revenue
is generated from the established  contracts.  The company is negotiating with a
number of sources of funding to provide for  equipment  expense and  operational
expenses. There is no assurance that such additional financing will be available
when  required in order to proceed  with the  business  plan.  If the company is
unsuccessful in securing the additional  capital  investments needed to continue
operations  within the time  required,  the company will not be in a position to
continue operations and the stockholders may lose their entire investment.
<PAGE>
Showintel has had limited  operations since its organization and is a "start-up"
or "development  stage" company. We have no history of operations you can use to
evaluate our business experience.

EMPLOYEES

As of June 30th, 2002, the company has one employee,  David V. Lott,  President,
who has worked  full-time since the company's  founding.  The company intends to
hire additional  employees  immediately upon securing the necessary  operational
and equipment  financing.  The company currently retains two outside consultants
to  assist  with  business  development,   financial  development  and  business
strategy.

                              RESULTS OF OPERATIONS

REVENUES

Showintel Networks, Inc. has never generated revenues form operations. Showintel
Networks,  Inc has been in the  development  stage since its inception in April,
2001 and has been in the process of building its  infrastructure.  Showintel had
expected  funding for  operations  and capital  expenditures  at the time of the
acquisition,  which  failed to  materialize.  Showintel  Networks,  Inc. and the
Company are in continuing  discussions to raise  sufficient  capital for company
operations.

The Company realized  interest income in the amount of $798 for the three months
ending June 30th, 2002 from accrued interest on a note receivable.

EXPENSES

Total  general and  administrative  expenses  were $383,706 for the three months
ended June 30th,  2002 and $809,882  for the six months  ended June 30th,  2002.
Most of the  expenses  were for  consultant  fees in the amount of $337,487  and
$704,975 respectively,  which have been paid primarily by the issuance of common
restricted stock in the company.  The company booked  depreciation of $2,516 the
three  months  ended June 30th , and $4,595 for the six months  ended June 30th,
2002, on existing  equipment and furnishings.  Other general and  administrative
expenses  were $43,703 for the three  months ended June 30th,  2002 and $100,312
for the six months ended June 30th, 2002.

OPERATING LOSS

On a pre-tax  basis,  we had a loss of $382,908 for the three months ending June
30, 2002 and $809,038 for the 6 months  ending June 30th,  2002 from  continuing
operations.  For the three months ending June 30, 2002,  and the 6 months ending
June 30th,  2002,  we had a loss per common  share from  continuing  operations,
basic and diluted, of $.02 and $.04 per share, respectively.

B. LIQUIDITY AND CAPITAL RESOURCES

The  Company's  current  assets  exceed its  current  liabilities  by a total of
$443,000  as of June 30th,  2002.  As of June 30th,  2002,  the  Company  had an
accumulated  deficit of  $1,507,795.  This  raises  substantial  doubt about the
Company's ability to continue as a going concern.

The  Company  has  incurred  substantial  losses  from  continuing   operations,
sustained  substantial  operating cash outflows,  has a working  capital deficit
and,  as of the 3 months  ending  June  30th,  2002,  has a capital  deficiency.
Management  believes  that such losses and  negative  operating  cash flows will
continue  through  the  fiscal  year 2002 and into the fiscal  year 2003  unless
adequate capital funding is obtained.  The above factors raise substantial doubt
about the  Company's  ability to  continue  as a going  concern.  The  Company's
continued  existence  is dependent  on its ability to obtain  additional  equity
and/or  debt  financing  to  fund  its  operations  and  ultimately  to  achieve
profitable operations.  The Company is attempting to raise additional financing.
There is no  assurance  that the Company  will obtain  additional  financing  or
achieve profitable operations or cash flow.

Historically, the Company has sustained its operations primarily from the use of
our own management's  personal  financial  resources.  We are seeking sources of
financing,  from several public or private equity or debt offerings. The current
state of sources of funding are as follows:

On April 1, 2002, Multinet received a signed term sheet from International Forex
Finance  Group,  LTD.  representing  a line of credit equal to 20% of the market
value of restricted  144A stock the company  placed in escrow for collateral for
such an arrangement. 5 million restricted 144 shares and 25 million 144A shares,
previously  issued,  have been  canceled due to an error in  calculation  of the
total  authorized  number of shares of the Company.  The Company is currently in
the process of properly  amending the Articles of  Incorporation to increase the
total number of authorized shares.  Though this transaction was never finalized,
the term sheet has been  cancelled.  The Company is still in  negotiations  with
International  Forex and is pursuing a new  agreement  with the use of 5 million
shares of David Lott's own personal  shares.  Should an  arrangement be reached,
Mr. Lott will donate the shares to the Corporation for this purpose. Mr. Lott is
to be issued  new shares in the  amount of 5 million  shares  upon the filing of
amended articles of  incorporation  to increase the number of authorized  shares
available.  However,  there are no assurances that the transaction with IFF will
be completed.

While not created for fundraising, the Company has issued warrants for 1 million
shares of common stock to Erik Nelson of Coral Capital  Partners for  consulting
services. Mr. Nelson holds two classes of Warrants.  Class A entitles Mr. Nelson
to exercise for 500,000 shares of Company stock at $.50 share.  Class B entitles
Mr. Nelson to exercise for 500,000  shares of Company stock at $1.50 per shares.
Mr.  Nelson has  advised  the Company  that he intends to begin  exercising  his
Warrants upon completion of the registration of the Warrants.  On May 7, 2002, a
Form S-8  registration  statement was completed that  registered the warrants to
Mr. Nelson as well as the 1 million shares of common stock for the warrants. Mr.
Nelson has exercised 10,000 shares to date at $.50 per share.

On July 1, 2002, the Company  executed a term sheet with La Jolla Cove Investors
for the investment of $200,000. The transaction has been completed. Mr. David V.
Lott,  President of the Company,  offered 1.6 million of his stock as collateral
for the funding. La Jolla Cove was given 2 million shares of restricted stock at
$.10 per share.  Mr. Lott has a call option to buy the stock back in one year at
$.20 per share.  La Jolla has a put option to sell the stock back to Mr. Lott at
$.19 per share at the end of the year. The funding  allowed the  installation of
equipment in 16 theater  sites.  Currently  the Company and La Jolla are in more
negotiations for further funding arrangements.

On May 8th, 2002, the Company executed a private placement of 100,000 restricted
shares at $.10 per share to an individual investor.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

On May 8th,  2002,  the  Company  entered  into an  agreement  to issue  100,000
restricted  shares at $.10 per share pursuant to pursuant to Section 4(2) of the
Securities Act of 1933. The proceeds are to be used to further  installation  of
our equipment. The funds have been received by the Company and the Company is in
the process of distributing those shares.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

N/A

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

N/A

ITEM 5. OTHER INFORMATION

We have been in  negotiations  with  UniGuest  of  Tennessee  (www.uniguest.com)
regarding the potential acquisition of UniGuest by a newly created subsidiary of
our  Company.  UniGuest  is  a  sales  integration  organization  that  provides
technology services to the travel and hospitality  industry. No final agreements
have been reached and there are no  assurances  that such an  agreement  will be
finalized.

During the  registration  of an S-8,  filed on May 7th,  2002, a delay after the
execution  of an original  filing  document to  re-evaluate  several  consultant
agreements caused an inadvertent  release of 300,000 shares of common stock from
the  Company  treasury  bearing no legend.  Upon  learning of the  release,  the
Company and its counsel  requested  the stock be  returned to the  company.  Two
individuals  refused to return the stock. The Company notified the SEC and NASD.
Official  letters  stating  that  the  stock  was  unregistered  was sent to the
Depository  Transfer  Corporation,  Cede and Co. and the brokerage houses. As of
this date the stock is still being held in the  brokerage  houses but are frozen
from any activity. NASD is working with the Company to have the stock returned.

On July 10th, 2002,  Showintel  Networks entered into a master license agreement
with Wehrenberg  Theaters,  St. Louis Missouri,  for the  installation of Plasma
Screens and/or Digital Display systems in 11 different theater locations.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8K

(a)  Exhibits

     2.1     Acquisition  Agreement  between  Multinet  International  Corp. and
             Showintel,  Inc.  dated  September  26, 2001.  (Incorporated  by
             reference in Company's 8K/A filed on October 18th, 2001.

     3.1     Articles  of Incorporation  of Multinet  International Corporation,
             Inc.  (Incorporated  by  reference  from  Exhibit  3.1  of Form 8-K
             filed October 27, 2000).

     3.2     Bylaws of  Multinet  International  Corporation, Inc. (Incorporated
             by reference from Exhibit 3.2 of Form 8-K filed July 21, 2000).

     3.3     Certificate of  Incorporation of  Nikky D.  Corporation, a Delaware
             corporation  (Incorporated  by reference from  Exhibit 3.1  of Form
             8-K filed April 6, 2001).

     10.1    Nikky  D.  Management  Agreement  (Incorporated  by  reference from
             Exhibit 27.1 of Form 8-K filed July 21, 2000).

     10.2    Master  License  Agreement  between  Digital Theatre  Resources Co.
             and  Showintell  Networks,  Inc. (July 1,  2001)  (Incorporated  by
             reference in Company's Form 10KSB filed on April 18th, 2002)

     10.3    Guaranty  Agreement  between  See  Saw  Communications  Inc.,   and
             Showintell   Networks,  Inc.  (Oct  16,  2001)   (Incorporated   by
             reference in Company's Form 10KSB filed on April 18th, 2002)

     21.1    Subsidiaries   of   Registrant.   (Incorporated  by   reference  in
             Company's Form 10KSB filed on April 18th, 2002)

     99.1    Certification of David V. Lott
<PAGE>
                                   SIGNATURES


In  accordance  with  Section 13 or 15(d) of the Exchange  Act,  the  registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                   Multinet International Corp., Inc.


                                   By /s/ David V. Lott
                                      ------------------------------------------
                                      David V. Lott, Sole Officer and Director.
                                      Date: August 19, 2002