SECURITIES AND EXCHANGE COMMISSION
				                    Washington, DC 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 March 31, 2000

                     Commission File No.: 000-29107

               MULTINET INTERNATIONAL CORPORATION, INC
        (Exact name of registrant as it appears in its charter)

         NEVADA                            	88-0441388
(State or jurisdiction of	             (I.R.S. Employer
Incorporation or organization)         	Identification No.)


8100 West Sahara Ave, Suite 200, Las Vegas, NV	        	89129
(Address of Principal Executive Office)	              (Zip Code)

Registrant's telephone number, including area code:	(702)-966-0600

Securities registered pursuant to Section 12 (b) of the Act:  None

Class A Common Stock $0.001 Par Value

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  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.  X 	Yes 			No

At  the  end  of the quarter ending March 31, 2000 there were 2,431,000 issued
and outstanding shares of the registrants common stock.

There is no active market for the registrant's securities.

PART I.	FINANCIAL INFORMATION
Item 1.	FINANCIAL STATEMENTS

Attached.

Item 2.	MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATION.


NOTE REGARDING PROJECTIONS AND FORWARD LOOKING STATEMENTS.

This  statement  includes  projections  of future results and "forward-looking
statements" as that term is  defined  in  Section 27A of the Securities Act of
1933 as amended ( the "Securities Act" ),  and Section 21E  of  the Securities
Exchange Act of 1934 as amended (the "Exchange Act").  All statements that are
included in this Registration Statement, other  than  statements of historical
fact, are forward-looking  statements,  Although  Management believes that the
expectations reflected in  these forward-looking statements are reasonable, it
can give no assurance that such  expectations will prove to have been correct.
Important factors that could cause actual  results  to  differ materially from
the  expectations  are  disclosed  in  this  Statement,   including,   without
limitation, with those forward-looking statements contained in this Statement.

Plan of Operation-General

Multinet's International Corporation, Inc.'s plan is to seek, investigate, and
if  such   investigation warrants, acquire an interest in one or more business
opportunities  presented  to  it  by  persons  or firms desiring the perceived
advantages of a publicly held corporation.  At this time, Multinet International
Corporation,  Inc.  has  no  plan,  proposal,  agreement,  understanding,   or
arrangement to acquire or merge with any specific  business  or  company,  and
Multinet  International  Corporation,  Inc.  has  not  identified any specific
business  or company for investigation and evaluation. No member of Management
or any promoter  of  Multinet International Corporation, Inc., or an affiliate
of either, has had any  material  discussions  with  any  other  company  with
respect to any acquisition of that company, Multinet International Corporation,
Inc. will not restrict its search  to  any  specific  business,  industry,  or
geographical location, and  may  participate in business ventures of virtually
any kind or nature. Discussion of the proposed business under this caption and
throughout this Registration Statement is purposefully general and is not meant
to  restrict  Multinet  International  Corporation, Inc.'s virtually unlimited
discretion to search for and enter into a business combination.

Multinet  International  Corporation,  Inc. may seek a combination with a firm
which only recently commenced operations,  or a developing  company in need of
additional funds to expand into new products or markets or  seeking to develop
a new product or service, or an established business which may be experiencing
financial or operating  difficulties  and  needs  additional  capital which is
perceived to be easier  to  raise by a public company,  In  some  instance,  a
business opportunity may involve acquiring or merging with a corporation which
does not need substantial additional cash but which  desired  to  establish  a
public trading market for its common stock. Multinet International Corporation,
Inc. may purchase assets and establish  wholly  owned  subsidiaries in various
businesses or purchase existing businesses as subsidiaries.

Selecting a business opportunity will  be complex and extremely risky. Because
of federal economic condition, rapid technological advances being made in some
industries, and shortages of available capital, management believes that there
are numerous firms seeking the benefits of a publicly traded corporation. Such
perceived benefits of a publicly  traded  corporation may include facilitating
or improving the  terms  on  which  additional equity financing may be sought,
providing  liquidity  for  the  principals of a business, creating a means for
providing  incentive  stock options or  similar  benefits  to  key  employees,
providing liquidity ( subject to restrictions of applicable  statues ) for all
shareholders, and other items. Potentially  available  business  opportunities
may occur in many different industries  and  at various stages of development,
all of which will make the task  of  comparative investigation and analysis of
such business opportunities extremely difficult and complex.

Management  believes that Multinet International Corporation, Inc. may be able
to benefit from  the use of "leverage" to acquire a target company. Leveraging
a  transaction involves  acquiring  a  business  while  incurring  significant
indebtedness  for  a  large percentage of the purchase price of that business.
Through leveraged transactions,  Multinet International Corporation,Inc. would
be required to use less of its available funds to acquire a target company and,
therefore, could commit those  funds  to  the  operations  of the business, to
combinations with  other  target  companies,  or  the  other  activities.  The
borrowing involved  in  a  leveraged transaction will ordinarily be secured by
the assets of the acquired business.  If that business is not able to generate
sufficient  revenues  to  make  payments on  the  debt  incurred  by  Multinet
International Corporation, Inc.  to acquire that business, the lender would be
able to exercise the remedies provided by law or by contract. These leveraging
techniques, while reducing  the  amount  of  funds that Multinet International
Corporation, Inc. must commit  to  acquire  a  business,  may  correspondingly
increase the risk of loss to Multinet International Corporation, Inc. Multinet
International  Corporation,  Inc.  can give as to the terms or availability of
financing for any acquisition no assurance. During periods when interest rates
are relatively high, the benefits  of  leveraging  are  not as great as during
periods of lower interest rates, because the  investment  in the business held
on a  leveraged  basis  will  only  be  profitable  if it generates sufficient
revenues  to  cover the related debt and other costs of the financing. Lenders
from which Multinet  International  Corporation,  Inc.  may  obtain  funds for
purposes of a leveraged buy-out may impose restrictions on the future borrowing,
distribution, and operating policies  of  Multinet  International  Corporation,
Inc. It is not possible at this time to predict the restrictions, if any, which
lenders  any  impose,  or  the  impact  thereof  on   Multinet   International
Corporation, Inc.

Multinet  International Corporation,  Inc., Inc. has insufficient capital with
which to provide the owners of businesses significant currency or other assets.
Management believes Multinet International Corporation, Inc. will offer owners
of businesses the opportunity to acquire a controlling ownership interest in a
public company at substantially less  cost  than  is  required  to  conduct an
initial public offering, The owners of the  businesses  will,  however,  incur
significant post-merger  or  acquisition  registration costs in the event they
wish to register a portion  of  their  shares  for  subsequent  sale. Multinet
International   Corporation,  Inc.  will  also  incur  significant  legal  and
accounting costs in connection with the acquisition of a business opportunity,
including  the  costs  of  preparing  post - effective  amendments, forms 8-K,
agreements, and related reports and documents. Nevertheless,  the officers and
directors of Multinet  International  Corporation,  Inc.  have  not  conducted
market research and are not aware of statistical data, which would support the
perceived benefits of  a merger or acquisition transaction for the owners of a
business. Multinet International Corporation, Inc. does not intend to make any
loans  to  any prospective merger or acquisition candidates or to unaffiliated
third parties.

Multinet Internet  Corporation,  Inc.  will  not  restrict  its search for any
specific kind of terms,  but may acquire a venture which is in its preliminary
or developmental stage,  which  is already in operation, or in essentially any
stage of its corporate life. It is  impossible  to  predict  at  this time the
status of any business in which Multinet International Corporation,  Inc.  may
become engaged, in that such business may need to seek additional capital, may
desire to have its  shares  publicly  traded,  or  may  seek  other  perceived
advantages  which  the  Company  may  offer.  However,  Multinet International
Corporation,  Inc.  does  not  intend  to  obtain funds in one or more private
placements to finance the operation of any acquired business opportunity until
such  time  as  Multinet  International  Corporation,  Inc.  has  successfully
consummated  such a merger or acquisition. Multinet International Corporation,
Inc. also has no plans to conduct any offerings under Regulation S.

Sources of Opportunities

Multinet  International  Corporation,  Inc.  will  seek  a  potential business
opportunity from all known sources; but  will  rely  principally  on  personal
contacts  of  its  officers  and  directors  as well as indirect  associations
between them and other business and professional people. It is  not  presently
anticipated   that   Multinet  International  Corporation,  Inc.  will  engage
professional  firms  specializing in business acquisitions or reorganizations.

Management,  while not  especially  experienced in matters relating to the new
business of Multinet International  Corporation, Inc. will rely upon their own
efforts and, to a much  lesser  extent,  the efforts of Multinet International
Corporation,  Inc.'s  shareholders,  in accomplishing the business purposes of
Multinet International Corporation,  Inc.  It  is  not  anticipated  that any
outside consultants or advisors, other than Multinet International Corporation,
Inc.'s counsel and accountants, will be  utilized  by  Multinet  International
Corporation,  Inc.,  to  effectuate  its  business  purposes described herein.
However, if Multinet International  Corporation,  Inc.  does  retain  such  an
outside consultant or advisor, any  cash fee earned by such party will need to
be  paid  by  the  prospective  merger / acquisition  candidate,  as  Multinet
International Corporation, Inc. has no cash assets  with  which  to  pay  such
obligation.  There  have  been  no  discussions,  understandings, contracts or
agreements with any outside consultants and none are anticipated in the future.
In the past,  Multinet  International Corporation, Inc.'s management has never
used outside consultants or advisors in connection with a merger or acquisition.

As  is  customary  in the industry, Multinet International Corporation, Inc.'s
may par a finder's fee  for  locating an acquisition prospect. If any such fee
is paid, it will be approved by  Multinet  International  Corporation,  Inc.'s
Board of Directors and will be in accordance with the industry standards. Such
fees are customarily between 1% and 5% of the size of the  transaction,  based
upon a sliding scale of the amount involved. Such  fees  are  typically in the
range of 5% on a  $1,000,000  transaction  ratably  down to 1% in a $4,000,000
transaction.  Management has adopted a policy that such a finder's fee or real
estate brokerage fee could, in certain circumstances, be paid to any employee,
officer, director or 5% shareholder of Multinet International Corporation, Inc.
if such person  plays  a  material  role in bringing a transaction to Multinet
International Corporation, Inc.

Multinet  International  Corporation,  Inc.  will not have sufficient funds to
undertake any significant development, marketing,  and  manufacturing  of  any
products, which may be acquired. Accordingly, if it acquires the rights  to  a
product, rather than entering into a merger  or  acquisition,  it most  likely
would need to  seek  debt  or  equity  financing  or obtain funding from third
parties in  exchange  for which Multinet International Corporation, Inc. would
probably be required to  give  up a substantial portion of its interest in any
acquired product. There is no assurance that Multinet International Corporation
Inc. will be able either to obtain  additional  financing or to interest third
parties in providing funding  for  the  further  development,  marketing,  and
manufacturing of any products acquired.


Evaluation of Opportunities


The  analysis of new business opportunities will be undertaken by or under the
supervision  of the officers and directors Multinet International Corporation,
Inc.  ( see "Management" ).  Management  intends to concentrate on identifying
prospective business opportunities, which may  be  brought  to  its  attention
through present associations with management. In analyzing prospective business
opportunities, management will consider, among other factors, such matters as:

1. The available technical, financial, and managerial resources.
2. Working capital and other financial requirements.
3. History of operation, if any.
4. Prospects for the future.
5. Present and expected competition.
6. The quality and experience of management services which may be available and
   the depth of that management.
7. The potential for further research, development, or exploration.
8. Specific risk factors not now foreseeable but which then may be anticipated
   to impact the proposed activities of Multinet International Corporation, Inc.
9. The potential for growth or expansion.
10. The potential for profit.
11. The perceived public recognition or acceptance of products, services, or
    trades.
12. Name identification.

Management will meet  personally with management and key personnel of the firm
sponsoring the business  opportunity as  part  of  their investigation. To the
furthest extent possible, Multinet International  Corporation, Inc. intends to
utilize  written  reports  and  personal  investigation  to evaluate the above
factors. Multinet International Corporation, Inc.  will  not  acquire or merge
with any company for which  audited  financial  statements cannot be obtained.

Opportunities  in  which Multinet International Corporation, Inc. participates
will present certain  risks,  many  of  which  cannot be identified adequately
prior to selecting a specific opportunity. Multinet International Corporation,
Inc. shareholders must,  therefore,  depend  on  Management  to  identify  and
evaluate such risks.  Promoters  of some opportunities may have been unable to
develop a going concern or may present a business in its development stage (in
that it has  not  generated  significant  revenues from its principal business
activities prior to Multinet International Corporation, Inc.'s participation.)
Even after  Multinet International Corporation, Inc.'s participation, there is
a risk that the  combined enterprise may not become a going concern or advance
beyond the development stage. Other opportunities may involve new and untested
products, processes, or  market  strategies, which may not succeed. Such risks
will be assumed by Multinet International  Organization,  and  therefore,  its
shareholders.

The  investigation  of  specific  business  opportunities and the negotiation,
drafting,  and  execution of relevant agreements,  disclosure  documents,  and
other instruments  will  require  substantial management time and attention as
well as substantial costs for accountants, attorneys, and others. If a decision
is  made  not  to  participate  in  a  specific business opportunity the costs
incurred  in  the  related investigation would not be recoverable. Furthermore,
even if an agreement  is  reached for the participation in a specific business
opportunity, the failure to consummate that transaction may result in the loss
by Multinet International Corporation, Inc., Inc. of the related costs incurred.

There is the additional risk that Multinet International Corporation, Inc. will
not find a suitable target. Management does not believe Multinet International
Corporation,  Inc.  will  generate  revenue  without  finding and completing a
transaction with a suitable target  company.  If  no  such  target  is  found,
therefore, no return on  an  investment in Multinet International Corporation,
Inc. will be realized,  and  there  will  not,  most  likely,  be a market for
Multinet International Corporation, Inc. stock.

Acquisition of Opportunities

In implementing a structure for a particular  business  acquisition,  Multinet
International Corporation, Inc. may become a party to a merger, consolidation,
reorganization, joint venture, franchise, or  licensing agreement with another
corporation or entity.  It  may  also  purchase stock or assets of an existing
business. Once a transaction  is  complete,  it  is  possible that the present
management and shareholders of Multinet  International  Corporation, Inc. will
not be in control of Multinet International  Corporation,  Inc. In addition, a
majority or all of  Multinet  International  Corporation,  Inc.  officers  and
directors may, as part of the terms of the transaction, resign and be replaced
by new officers and  directors  without  a  vote of the Multinet International
Corporation, Inc. shareholders.

It  is  anticipated that securities issued in any such reorganization would be
issued in  reliance  on  exemptions from registration under applicable Federal
and state securities laws.  In  some  circumstances,  however, as a negotiated
element of this transaction is consummated, under certain  conditions,  or  at
specified time thereafter. The issuance of substantial  additional  securities
and their potential sale into any trading market which may develop in Multinet
International Corporation, Inc.'s Common Stock may have a depressive effect on
such market.

While  the  actual  terms  of  a  transaction  to which Multinet International
Corporation, Inc. may be a party cannot be  predicted, it may be expected that
the parties to the  business  transaction  will find it desirable to avoid the
creation of a taxable  event  and  thereby  structure  the acquisition in a so
called "tax free" reorganization under Sections 368  (a)  (1)  or 351  of  the
Internal Revenue Code of 1986, as amended (the "Code"). In order to obtain tax-
free treatment under the Code, it may be  necessary  for  the  owners of  the
acquired business to own 80% or more of  the  voting  stock  of  the surviving
entity. In such event, the shareholders of Multinet International Corporation,
Inc. including investors in this offering, would retain less  than  20% of the
issued and outstanding shares of the surviving entity,  which  could result in
significant dilution in the equity of such shareholders.

As  part  of Multinet International Corporation,Inc.'s investigation: officers
and directors  of Multinet International Corporation,Inc. will meet personally
with management  and key personnel, may visit and inspect material facilities,
obtain independent  analysis  or verification of certain information provided,
check references of management and  key  personnel,  and take other reasonable
investigative measures to the extent of the Multinet International Corporation,
Inc. limited financial resources and management expertise. The manner in which
Multinet International Corporation, Inc.  participates  in an opportunity, and
the relative negotiating strength of  Multinet International Corporation, Inc.
and such other management.

With  respect to any mergers or acquisitions, negotiations with target company
management will be expected to focus on the percentage of Multinet International
Corporation, Inc.,  which  the target  company's shareholders would acquire in
exchange for their shareholdings in the  target company. Depending upon, among
other  things,   the  target   company's  assets  and  liabilities,   Multinet
International Corporation,Inc.'s shareholders will, in all likelihood,  hold a
lesser percentage ownership interest in Multinet International Corporation,Inc.
following any merger or acquisition.  The percentage ownership may be  subject
of significant dilutive effect on the  percentage  of  shares held by Multinet
International Corporation,Inc. then shareholders, including purchasers in this
offering.

Management  has  advanced, and will continue to advance, funds, which shall be
used by Multinet  International  Corporation, Inc. in identifying and pursuing
agreements with target companies. Management anticipates that these funds will
be repaid from the proceeds of any agreement with the target company, and that
any such agreement may, in fact, be contingent  upon  the  repayment  of those
funds.

Competition

Multinet  International Corporation,Inc. is an insignificant participant among
firms which engage in business combinations with, or financing of, development-
stage  enterprises.  There  are  many  established  management  and  financial
consulting companies and venture capital firms who have significantly  greater
financial and personal resources,  technical  expertise  and  experience  than
Multinet International Corporation, Inc.  In  view  of  Multinet International
Corporation,Inc.'s limited financial resources  and  management  availability,
Multinet International Corporation,  Inc.  will  continue to be at significant
competitive disadvantage vis-a-vis  the  Multinet  International  Corporation,
Inc.'s competitors.

Year 2000 Compliance

Multinet International Corporation,Inc. is aware of the issues associated with
the programming code in existing computer systems as the year 2000 approaches,
Multinet  International  Corporation,  Inc.  has assessed these issues as they
relate  to  Multinet  International  Corporation,  Inc.,  and  since  Multinet
International Corporation,Inc. currently has no operating business and does not
use any  computer,   and  since  it  has  no  customers,  suppliers  or  other
constituents, it does not believe that there are any material year 2000 issues
to disclose in this Form 10-SB.

Regulation and Taxation

The Investment Company Act of 1940 defines an "investment company" as an issuer,
which  is  or  holds  it  out  as  being  engaged primarily in the business of
investing, reinvesting, or trading securities.  While  Multinet  International
Corporation,Inc. does not  intend  to  engage  in  such  activities,  Multinet
International Corporation, Inc.  may  obtain and hold a minority interest in a
number of development stage enterprises.  Multinet  International Corporation,
Inc. could be expected to incur significant registration and  compliance costs
if required to register under the Investment Company Act of 1940. Accordingly,
management will continue to review Multinet International Corporation,  Inc.'s
activities from time to time with a view that toward reducing the  likelihood
Multinet International Corporation,Inc. could be classified as an  "investment
company".

Multinet  International  Corporation, Inc.  intends  to  structure a merger or
acquisition  in  such manner as to minimize Federal and state tax consequences
to Multinet International Corporation,Inc. and to any target company.

Employees

Multinet International Corporation,Inc. has no full time or part-time employees.
None of the officers and directors anticipates devoting more than ten (10%) of
his  or  her  time  to Company activities. Multinet International Corporation,
Inc.'s President and  Secretary have agreed to allocate a portion of said time
to  the  activities  of  Multinet  International  Corporation,  Inc.,  without
compensation. These officers  anticipate  that  the  business plan of Multinet
International Corporation,Inc. can be implemented by  their  devoting  minimal
time per month to the business affairs of Multinet  International Corporation,
Inc. and consequently,  conflicts  of  interest  may arise with respect to the
limited time commitment  by  such  officers.  See "ITEM 5 Directors, Executive
Officers, Promoters And Control Persons


PART II.	OTHER INFORMATION
<TABLE>
<S>     <C>
Item 1.	Legal Proceedings.

        None

Item 2.	Changes in Securities

        None

Item 3.	Default Upon Senior Securities

        None

Item 4.	Submission of matters To a Vote of Security Holders

        None

Item 5.	Other Information.

        None

Item 6.	Exhibits and Reports on Form 8-K
</TABLE>

<TABLE>
<S>                              <C>
3.1                              Articles of Incorporation. Incorporated
                                 by Reference in form 10SB12G filing.

3.2                              By Laws. Incorporated by Reference in
                                 Form 10SB12G filing.
</TABLE>




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.

Multinet International Corporation, Inc.

Dated: July 24, 2000	By: /S/
                         Sherri Kresser, Secretary


                 MULTINET INTERNATIONAL CORPORATION, INC.
                      (A Development Stage Company)

                            FINANCIAL REPORTS
                               (Reviewed)

                              MARCH 31, 2000


                MULTINET INTERNATIONAL CORPORATION, INC.
                      (A Development Stage Company)
                                 CONTENTS

<TABLE>
<S>                                                      <C>
INDEPENDENT ACCOUNTANT'S REPORT ON THE
FINANCIAL STATEMENTS                                     1


FINANCIAL STATEMENTS



Balance Sheets                                           2



Statements of Income                                     3



Statements of Stockholders' Equity                       4



Statements of Cash Flows                                 5-6


Notes to Financial Statements                            7-9

</TABLE>


                        Independent Accountant's Report


To the Board of Directors
Multinet International Corporation, Inc.
Las Vegas, Nevada


     I  have reviewed the accompanying balance sheet of Multinet International
Corporation,  Inc.  (A Development Stage Company) as of March 31, 2000 and the
related statements of income,  stockholders'  equity,  and  cash flows for the
three - month  period  then  ended.     These  financial  statements  are  the
responsibility of the Company's management.

I conducted my review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.   A review of interim financial
information   consists   principally  of  applying  analytical  procedures  to
financial  data and  making inquiries of persons responsible for financial and
accounting matters.  It is substantially less in scope than an audit conducted
in accordance  with  generally  accepted  auditing standards, the objective of
which is the expression of an opinion regarding the financial statements taken
as a whole.  Accordingly, I do not express such an opinion.

The accompanying financial  statements have  been prepared  assuming that  the
Company  will continue  as a  going  concern.   As  discussed in Note 4 to the
financial  statements,  the  Company  has  not been generating revenue and has
suffered recurring losses from operations which raises substantial doubt about
its ability to continue as  a going concern.   Management's plans in regard to
these matters are also described in Note 4.   The financial  statements do not
include any adjustments that might result from the outcome of this uncertainty.

Based on my review,  I am  not aware of any material modifications that should
be made to the accompanying  financial statements for them to be in conformity
with generally accepted accounting principles.



Kyle L. Tingle
Certified Public Accountant

July 17, 2000


<TABLE>
MULTINET INTERNATIONAL CORPORATION, INC.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS
MARCH 31, 2000 AND DECEMBER 31, 1999
(UNAUDITED)
<CAPTION>


                                    March 31,       December 31,
                                    2000            1999
                                    ---------       ------------
<S>                                 <C>             <C>

Assets

Current Assets:

Cash                                $5,031          $167

Accounts Receivable                 0               0
                                    -------         ------
Total Current Assets                $5,031          $167
                                    =======         ======
Total Assets                        $5,031          $167
                                    =======         ======

Liabilities and
Stockholders' Equity

Current Liabilities:

Accounts Payable and
Accrued expenses                    $400            $220
                                    -----           -----
Total Current Liabilities           $400            $220
                                    =====           =====


Stockholders' Equity

Common Stock:  $.001 par value,
authorized 25,000,000 shares
issued and outstanding
2,425,500 and at December
31, 1999                                            $2,426
2,431,000 shares at March
31, 2000;                           2,431

Additional Paid In Capital          5,994           499

Accumulated Deficit
During the Development Stage        (3,794)         (2,978)
                                    --------        --------
Total Stockholders' Equity          $4,631          $(53)
                                    --------        --------
Total liabilities and
stockholders' equity                $5,031          $167
                                    ========        ========
</TABLE>
See Accompanying Notes to Financial Statements.


<TABLE>
MULTINET INTERNATIONAL CORPORATION, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF INCOME
<CAPTION>
                                                              May 17, 1996
                                                              (inception) to
                                       March 31,   March 31,  March 31,
                                       2000        1999       2000
                                       ----        ----       --------------
<S>                                    <C>         <C>        <C>

Revenues                               $0          $0         $0

Cost of revenues                       0           0          0
                                       ---         ---        ---
Gross Profits                          $0          $0         $0

Operating, general and
administrative  expenses               816         188        3,794
                                       -----       -----      -----
Operating (loss)                       $(816)      $(188)     $(3,794)

Nonoperating income (expense)          0           0          0
                                       ------      ------     ---------
Net (loss)                             $(816)      $(188)     $(3,794)
                                       ======      ======     =========

Net (loss) per share (Note 2)          $(0.0003)   $(0.0775)  $(0.0096)
                                       =========   =========  =========
Average Number of Shares
of Common Stock Outstanding            2,427,209   2,425      394,698
                                       ==========  =========  =========
</TABLE>
See Accompanying Notes to Financial Statements.

<TABLE>
MULTINET INTERNATIONAL CORPORATION, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF STOCKHOLDERS' EQUITY
THREE MONTHS ENDED MARCH 31, 2000 AND 1999
(UNAUDITED)
(CAPTION)

                                                                   Accumulated
                                                                   (Deficit)
                                                     Additional    During
                              Common      Stock      Paid-In       Development
                             Shares       Amount     Capital       Stage
                             ------       ------     ----------    ------------
<S>                          <C>          <C>        <C>            <C>

Sale of 2,000 shares
May 17, 1996                 2,000        $2         $1,998         $0

Net (Loss)
December 31, 1996                                                   (280)
                             ------       ---        ------         ------
Balance at
December 31, 1996            2,000        $2         $1,998         $(280)

Net (Loss)
December 31, 1997                                                   (85)
                             -------      ---        -------        ------
Balance at
December 31, 1997            2,000        $2         $1,998         $(365)

Director Compensation        425          0          425

Net (Loss)
December 31, 1998                                                   (630)
                             -------      ---        -------        -------

Balance at
December 31, 1998            2,425        $2         $2,423         $(995)

August 15, 1999
thousand for one
stock split                  2,422,575    2,423      (2,423)

Sale of stock
December 16, 1999            500          1          499

Net (Loss)
December 31, 1999                                                   (1,983)
                             ----------   ------     --------       -------
Balance
December 31, 1999            2,425,500    $2,426     $499           $(2,978)

Sale of Stock
March 9, 2000                500          0          500

Sale of Stock
March 31, 2000               5,000        5          4,995

Net (Loss)
March 31, 2000                                                      (816)
                             ---------    -------    ----------     -------
Balance
March 31, 2000               2,431,000    $2,431     $5,994         $(3,794)
                             =========    ======     ======         ========
</TABLE>
See Accompanying Notes to Financial Statements.

<TABLE>
MULTINET INTERNATIONAL CORPORATION, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
THREE MONTHS ENDED MARCH 31, 2000 AND 1999
(UNAUDITED)
<CAPTION>
                                                                  May 17, 1996
                                                                  (inception) to
                                            March 31,   March 31,  March 31,
                                            --------------------------
                                            2000          1999     2000
                                            ----          ----     ----
<S>                                         <C>           <C>      <C>

Cash Flows From Operating Activities

Cash received from customers                 $0           $0       $0

Cash Paid to suppliers and vendors           (636)        (188)    (2,969)
                                             -----        -----    -------
Net Cash (used in) operating activities      $(636)       $(188)   $(2,969)
                                             ------       ------   --------

Cash Flows from Inversting Activities

Capital Expenditures                          $0          $0       $0

Issuance of common stock                      5,500       0        8,000
                                              -----       ---      ------
Net Cash provided by investing activities     $5,500      $0       $8,000
                                              ------      ----     ------

Cash Flows From Financing Activities

Proceeds from notes payable                   $0          $0       $0

Principal payment on notes payable            0           0        0
                                              ---         ---      ---
Net Cash (used in) financing activities       $0          $0       $0
                                              ---         ---      ---

Net increase (decrease) in cash and
cash equivalents                              $4,864      $312     $5,031

Cash and cash equivalents at
beginning of year                             167         1,650    0
                                              ----        -----    -------
Cash and cash equivalents at end of period    $5,031      $1,462   $5,031
                                              ======      ======   =======
</TABLE>
See Accompanying Notes to Financial Statements.



<TABLE>
MULTINET INTERNATIONAL CORPORATION, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
THREE MONTHS ENDED MARCH 31, 2000 AND 1999
(UNAUDITED)
<CAPTION>

                                                                   May 17, 1996
                                                                  (inception) to
                                              March 31,   March 31,  March 31,
                                              2000        1999       2000
                                              ---------   --------- ----------
<S>                                           <C>         <C>       <C>
Reconciliation of Net Loss to Net Cash
(Used in) Operating Activities

Net (loss)                                    $(816)      $(188)    $(3,794)

Adjustments to reconcile net (loss) to cash
(used in) operating activities:

Director Stock Compensation                   0           0          425

Change in assets and liabilities

(Increase) decrease in accounts receivable    0           0          0

Increase (decrease) in accounts payable       180         0          400
                                              -----       ---        -----

Net cash (used in) operating activities       $(636)      $(188)     $(2,969)
                                              ======      ======     ========
Supplemental schedule of non-cash
investing and financing activities
Issue common stock to directors               $0          $0         $425
                                              ======      ======     =======
</TABLE>
See Accompanying Notes to Financial Statements.



MULTINET INTERNATIONAL CORPORATION, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
(Unaudited)

Note 1.	Nature of Business and Significant Accounting Policies

   The accompanying financial statements have been prepared in accordance with
generally accepted accounting principles for interim financial information and
with the instructions to Form 10-QSB and Regulation S-B.  Accordingly, they do
not include all of the information and footnotes required by generally accepted
accounting principles for complete financial statements.

Nature of business:

Multinet International Corporation, Inc.("Company") was organized May 17, 1996
under  the  laws  of  the  State of Nevada.  The Company was formed to provide
experienced management to companies  through  management  contracts or through
merger or acquisition.  The  Company  currently  has  no  operations  and,  in
accordance  with  Statement  of  Financial  Accounting  Standard (SFAS) No. 7,
"Accounting and Reporting by Development Stage Enterprises,"  is  considered a
development stage company.

A summary of the Company's significant accounting policies is as follows:

Estimates

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

Cash

 For the Statements of Cash Flows, all highly liquid investments with maturity
of  three months of less are considered to be cash equivalents.  There were no
cash equivalents as of June 30, 2000, December 31, 1999, and December 31, 1998.

Income taxes

 Deferred taxes are provided on a liability method whereby deferred tax assets
are recognized for deductible temporary differences and operating loss and tax
credit  carryforwards  and deferred tax liabilities are recognized for taxable
temporary differences.   Temporary differences are the differences between the
reported amounts of assets  and liabilities and their tax basis.  Deferred tax
assets are reduced by a valuation allowance when, in the opinion of management,
it is more likely than not that some portion or all of the deferred tax assets
will not be realized. Deferred tax assets and liabilities are adjusted for the
effect of changes in tax laws and rates on the date of enactment.


MULTINET INTERNATIONAL CORPORATION, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
(Unaudited)

Note 1.	Nature of Business and Significant Accounting Policies
(continued)

   Due to the inherent uncertainty in forecasts of future events and operating
results, the Company has provided for a valuation allowance in an amount equal
to gross  deferred tax assets resulting in no net deferred tax assets at March
31, 2000, December 31, 1999.

Note 2.	Stockholders' Equity

Common stock

 The authorized common stock of the Company consists of 25,000,000 shares with
par  value  of  $0.001.   On  May 17,  1996, the Company authorized and issued
2,000 shares for $2,000.  On May 15, 1998 the Company issued 425 shares, valued
at  $1.00  per  share to directors for services rendered.  On August 15, 2000,
the Company's shareholders approved  a  thousand  for  one  stock split of the
existing shares.  In December 1999, the Company issued 500 shares at $1.00 per
share.   In  March  2000,  the Company issued 5,500 shares at $1.00 per share.

The Company has not authorized any preferred stock.


Net loss per common share

Net loss per share is calculated in accordance with SFAS No. 128, "Earnings Per
Share."  The weighted- average number of common shares outstanding during each
period is used to compute  basic  loss  per  share.  Diluted loss per share is
computed using the weighted averaged number of  shares  and dilutive potential
common shares outstanding.  Dilutive potential common  shares  are  additional
common shares assumed to be exercised.

    Basic net loss per common share is based on the weighted average number of
shares of common stock outstanding of 2,427,209 and 2,425 for the three months
ended March 31, 2000 and 1999, respectively and 394,698 from inception through
March  31,  2000.   As of March 31, 2000 and 1999, the Company had no dilutive
potential common shares.

Note 3.	Related Party Transactions
     During  the  formation  and development of the Company, Shogun ("Shogun")
Investment Group, Ltd, a related party through common ownership and management,
paid for certain filings and expenses. Included in accounts payable and accrued
liabilities as of the end of March 31, 2000 and December 31, 1999, the Company
owed Shogun $220, related to these advances.

   On June 15, 2000, the Company entered into the Acquisition Merger Agreement
with  Nikky  D.  Corporation,  a  company affiliated through common ownership.
Pursuant to the Agreement, upon

MULTINET INTERNATIONAL CORPORATION, INC.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
(Unaudited)

Note 3.	Related Party Transactions (continued)

    consummation of the Merger Acquisition, NIKKY D. CORPORATION will become a
Wholly-Owned Subsidiary of the Company.

    Pursuant to the Acquisition Merger Agreement, at the effective time of the
Merger  ("July 1st 2000"), each share of the NIKKY D. CORPORATION Common Stock
outstanding immediately prior to the Effective Time will be converted into the
right to  receive, and will be exchangeable for one (1) share of the Company's
Common  Stock.   Based  on  2,000,000  of  NIKKY  D.  CORPORATION common stock
outstanding at June 30th  2000 the Company will issue  2,000,000 shares of its
authorized but  unissued  stock in the Acquisition Merger which will represent
45.14   % of the  total  shares  of Common Stock to be outstanding immediately
following the Acquisition Merger.

    Consummation of the Acquisition Merger is subject to the satisfaction of a
number  of conditions, including the approval of the Acquisition Merger by the
shareholders  of  NIKKY D. CORPORATION and the Company. in connection with the
execution of the Acquisition Merger Agreement, holders of NIKKY D. CORPORATION
common stock owning  in  excess  of  51%  of  NIKKY D. CORPORATION outstanding
common stock entered into an agreement to vote  their  shares  in favor of the
Acquisition   Merger   on  the  same  date,    shareholders  of  the  Multinet
International  Corporation,  Inc.  Company  holding  in  excess  of 51% of the
Company's common stock entered into a voting agreement to vote their shares in
favor of the Acquisition Merger.

The Company believes that the Acquisition Merger will create a combined entity
that  should  help  the  Company's  achieve  the  strategic  goals that it has
established.

Note 4.	Going Concern

  The Company's financial statements are prepared in accordance with generally
accepted  accounting  principles  applicable to  a  going  concern.       This
contemplates the realization of assets and the liquidation of  liabilities  in
the normal course of business.  Currently, the Company  has  no  operations or
source of revenue.

On June 15, 2000, the Company signed a definitive agreement to acquire Nikky D.
Corporation,  effective  July  1,  2000.    Nikky  D.  Corporation,  through a
management contract with a Company affiliated  through  common  ownership  and
management, manages a convenience store in the Phoenix, Arizona area.  Revenues
are provided for by a management agreement with  the  convenience  store.  The
business plan contemplates  a  private  placement  or  merger  with  a  larger
operating enterprise to increase its revenue base.  Without the realization of
additional capital through a merger or sale of securities, it would be unlikely
for the Company to continue as a going concern.