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 Exchange
Act of 1934

For the quarterly period ended June 30, 2002

( )   For the transition period from __________ to __________


Commission file number:



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

Delaware                                         03-0390855
(State or other Jurisdiction of       (I.R.S. Employer Identification No.)
Incorporation or Organization)


4719 Quarton Road
(248)855-2138 - telephone
(Address of principal executive offices)

Check whether the issuer:  (1) filed all reports required to be filed by Section
13 or 15(d) of the  Securities  Exchange  Act of 1934  during the  preceding  12
months (or for such  shorter  period  that the issuer was  required to file such
reports),  and (2) has been subject to such filing  requirements for the past 90
days.

Yes      No  X


The  issuer  had  200,000  shares of its no par value  Common  Stock  issued and
outstanding as of June 30, 2002.

Transitional Small Business Disclosure Format (check one)

Yes      No  X

<PAGE>

SOLDNET, INC.

INDEX

PART I.  FINANCIAL INFORMATION

                                                                        PAGE NO.
         Item 1.  Financial Statements

              Unaudited Balance Sheet as of June 30, 2002                   4

              Unaudited Statements of Operations for the Three
              Months Ended June 30, 2002 and for the Period
              from February 21, 2002 (date of inception)
              to June 30, 2002                                              5

              Comparative Unaudited Statements of Cash Flows
              for the Three Months Ended June 30, 2002 and for
              the Period from February 21, 2002 (date of inception)
              to June 30, 2002                                              6

              Notes to the Unaudited Financial Statements                   7

         Item 2.  Management's Discussion and Analysis of
                  Financial Condition and Results of Operations             9


PART II. OTHER INFORMATION

         Item 1.  Legal Proceedings                                         9

         Item 2.  Changes in Securities and Use of Proceeds                10

         Item 3.  Defaults Upon Senior Securities                          10

         Item 4.  Submission of Matters to a Vote of Security Holders      10

         Item 5.  Other Information                                        10


                                       2
<PAGE>

Stockholders and Board of Directors
Soldnet, Inc.
Bloomfield Hills, MI


We have compiled the accompanying balance sheet of Soldnet,  Inc. as of June 30,
2002 and the related  statements of operations,  statement of cash flows for the
three months ended, June 30, 2002 and for the period from January 18, 2001 (date
of inception) to June 30, 2002 in  accordance  with  Statements on Standards for
Accounting  and Review  Services  issued by the American  Institute of Certified
Public Accountants.

A  compilation  is limited to  presenting  in the form of  financial  statements
information  that is the  representation  of management.  We have not audited or
reviewed the accompanying financial statements and, accordingly,  do not express
an opinion or any other form of assurance on them.

The accompanying  financial  statements have been prepared  assuming the Company
will  continue  as a going  concern.  As  discussed  in Note 3 to the  financial
statements,  the Company has had no operations and has  established no source of
revenue.  This 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 2. The  financial  statements  do not  include any  adjustments  that might
result from the outcome of this uncertainty.



Bloomfield Hills, MI
July 10, 2002





                                       3
<PAGE>

                                  SOLDNET, INC.
                                  BALANCE SHEET
                               AS OF JUNE 30, 2002


                                                                  June 30, 2002

CURRENT ASSETS
      CASH                                                        $           0
                                                                  -------------
TOTAL CURRENT ASSETS                                                          0

      TOTAL ASSETS                                                $           0
                                                                  =============


                      LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES
      ACCOUNTS PAYABLE                                            $           0
                                                                  -------------
TOTAL CURRENT LIABILITIES                                                     0

STOCKHOLDERS' EQUITY

      COMMON STOCK, 40,000,000
      SHARES AUTHORIZED AT
      PAR VALUE $.001 PER HARE,
      200,000 COMMON SHARES ISSUED
      AND OUTSTANDING                                                     200.00

      DEFICIT ACCUMULATED DURING
      DEVELOPMENT STAGE                                                 (200.00)
                                                                  -------------
TOTAL STOCKHOLDERS' EQUITY                                        $           0
                                                                  -------------
TOTAL LIABILITIES
 AND  STOCKHOLDERS EQUITY                                         $         200
                                                                  =============







                 See notes and accountant's compilation report.


                                       4
<PAGE>








                                  SOLDNET, INC.
              STATEMENT OF OPERATIONS AND ACCUMULATED DEFICIT FOR
            THE THREE MONTHS ENDED JUNE 30, 2002 AND FOR THE PERIOD
          FROM FEBRUARY 21, 2002 (DATE OF INCEPTION) TO JUNE 30, 2002


                                             APRIL 1, TO         FEBRUARY 21 TO
                                            JUNE 30,2002          JUNE 30,2002

INCOME
  REVENUE                                  $            0        $            0
                                           --------------        --------------
TOTAL INCOME                               $            0        $            0
                                           ==============        ==============

EXPENSES

 GENERAL AND                                            0                     0
 ADMINISTRATIVE                                         0                   200
                                           --------------        --------------
TOTAL EXPENSES

NET PROFIT (LOSS)                          $            0        $         (200)
                                           ==============        ==============

NET PROFIT (LOSS)
  PER SHARE                                $       0.0000        $       (0.001)
                                           ==============        ==============



                 See notes and accountant's compilation report.







                                       5
<PAGE>

                                  SOLDNET, INC.

  STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED JUNE 30, 2002 AND FOR THE
   PERIOD FROM FEBRUARY 21, 2002 (DATE OF INCEPTION) TO JUNE 30, 2002 FOR THE
       PERIOD FROM FEBRUARY 21, 2002 (DATE OF INCEPTION) TO JUNE 30, 2002



                                          APRIL 1 TO             FEBRUARY 21 TO
                                        JUNE 30, 2002             JUNE 30, 2002
                                        --------------           --------------
CASH FLOWS FROM
OPERATING ACTIVITIES                    $            0           $      (200.00)
                                        --------------           --------------
NET LOSS                                $            0           $      (200.00)
                                        ==============           ==============
CASH FLOWS FROM
FINANCING ACTIVITIES                    $            0           $            0
                                        --------------           --------------
ISSUE COMMON STOCK                      $            0           $       200.00
                                        --------------           --------------
NET INCREASE (DECREASE) TO$                          0           $            0
CASH

CASH, BEGINNING OF PERIOD               $            0           $            0
                                        ==============           ==============
CASH, END OF PERIOD                     $            0           $            0
                                        ==============           ==============



                 See notes and accountant's compilation report.








                                       6
<PAGE>

                                  SOLDNET, INC.
                          Notes to Financial Statements
                               AS OF JUNE 30, 2002


NOTE A - Summary of Significant Accounting Policies:


Organization

Soldnet,   Inc.  (a  development  stage  company)  is  a  Delaware   Corporation
incorporated on February 21, 2002.

The Company conducts business from its headquarters in Bloomfield Hills, MI. The
Company has not yet engaged in its expected  operations.  The future  operations
will be to merge with or acquire a existing company.

The Company is in the  development  stage and has not yet acquired the necessary
operation assets, nor has it begun any part of its proposed business.  While the
Company  is  negotiating  with  prospective  personnel  and  potential  customer
distribution  channels,  there is no assurance that any benefit will result form
such activities.  The Company will not receive any operating  revenues until the
commencement of operations, but will continue to incur expenses until then.

Accounting Method

The Company's  financial  statements  are prepared  using the accrual  method of
accounting. The Company has elected a December 31 year-end.


Start-Up Costs

Statement of Position  98-5 ("SOP  98-5").  "Reporting  on the Costs of Start-Up
Activities"  provides guidance on the financial  reporting of start-up costs and
organization costs to be expended as incurred.  SOP 98-5 is effective for fiscal
years beginning  after December 15, 1998.  With the adoption of SOP 98-5,  there
has been little or no effect on the company's financial statements.


Loss Per Share

Net loss per  share is  provided  in  accordance  with  financial  Statement  of
Financial  Accounting  Standards No. 128 (SFAS #128) "Earnings Per Share". Basic
Loss per share is computed by dividing losses  available to common  shareholders
by the weighted average number of common shares outstanding during the period.

Diluted loss per share  reflects per share  amounts that would have  resulted if
dilutive common stock equivalents had been converted to common stock. As of June
30, 2002,  the Company had no dilutive  common stock  equivalents  such as stock
options.


                                       7
<PAGE>

Policy in Regards to Issuance of Common Stock in a Non-Cash Transaction

The Company's accounting policy for issuing shares on a non-cash transactions to
issue the  equivalent  amount  of stock  equal to the fair  market  value of the
assets or services provided.

Use of Estimates

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect certain  reported amounts and  disclosures.  Accordingly,  actual results
could differ from those estimates.

Income Taxes

Income  taxes are  provided  for using the  liability  method of  accounting  in
accordance with Statement of Financial  Accounting Standards No. 109 (SFAS #109)
"Accounting for Income Taxes." A deferred tax asset or liability is recorded for
all  temporary  difference  between  financial and tax  reporting.  Deferred tax
expense  (benefit)  results form the net change  during the year of the deferred
tax assets and liabilities.


NOTE B- Stockholder's Equity:

The Company has authorized 40,000,000 shares at $.001 par value common stock. On
February 21, 2002,  the Company  authorized  and issued 200,000 shares of common
stock to shareholders for services rendered.


NOTE C - Going Concern:

As shown in the accompany financial statements, the Company incurred at net loss
of $200 from  February 21, 2002 (date of inception)  through June 30, 2002.  The
ability  of the  Company  to  continue  as a going  concern  is  dependent  upon
commencing  operations  and  obtaining  additional  capital and  financing.  The
financial  statements do not include any adjustments  that might be necessary if
the Company is unable to continue as a going  concern.  The Company is currently
seeking a merger  partner or an  acquisition  candidate to allow it to begin its
planned operations.


                                       8
<PAGE>

NOTE D - Income Taxes

There is no provision for income taxes for the period ended June 30, 2002 due to
the net loss.  The Company's  total deferred tax asset as of June 30, 2002 is as
follows:

Net operation loss carry forward           -0-
Valuation allowance                        -0-
                                          -----
Net deferred tax asset                     -0-
                                          =====

Note E - Related Party Transactions

The company neither owns nor leases any real or personal property. An officer of
the  corporation  provides  office  services  without  charge.  Such  costs  are
immaterial to the financial statements and accordingly,  have not been reflected
therein.  The  officers  and  directors  of the  company  are  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
other  business  interests.  The  Company  has not  formulated  a policy for the
resolution of such conflicts.


                    PART I - FINANCIAL INFORMATION continued


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


                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS

THE COMPANY

The Company was  incorporated  on February  21, 2002 in the State of Delaware to
merge with or acquire an  existing  company.  The company has not yet engaged in
its expected operations.

RESULTS OF OPERATIONS


         The Company had no operations during this quarter.




                           PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

         To the best  knowledge of management,  there are no litigation  matters
pending or threatened  against the Company which are not in the ordinary  course
of business.


                                       9
<PAGE>

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

        None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

        None.

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

        None.

ITEM 5. OTHER INFORMATION

         None.

ITEM 6. EXHIBITS

         None




                                   SIGNATURES

         In accordance  with Section 12 of the Securities  Exchange Act of 1934,
as amended,  the Registrant caused this  registration  statement to be signed on
its behalf by the undersigned, thereunto duly authorized.

                                       SOLDNET, INC.


                                       /s/  Judith Stahl
                                       -------------------------------
                                       By: Judith Stahl
                                       Its: President




                                       10