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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20459

                                -----------------

                                   FORM 10-Q/A

                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended March 31, 2001
                             Commission file number:

                                    333-39646

                                -----------------

                                 VELOCITA CORP.
                     (Formerly PF.Net Communications, Inc.)
             (Exact name of Registrant as specified in its charter)

                                -----------------

           DELAWARE                                        52-2197932
(State or other jurisdiction of                (IRS Employer Identification No.)
 incorporation or organization)

                        2941 FAIRVIEW PARK DR., SUITE 200
                          FALLS CHURCH, VIRGINIA 22042
                    (Address of principle executive offices)

                                 (703) 564-7200
                (Company's telephone number, including area code)

         Indicate by check mark whether Registrant (1) has filed all reports to
be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that Registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days. YES [X] NO [ ]

         The Company had 80,000,000 shares of common stock, $.01 par value,
outstanding at April 15, 2001.

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                                EXPLANATORY NOTE

The purpose of this amendment is to file amended copies of certain exhibits
filed with the original Report on Form 10-Q of Velocita Corp. (the "Company")
for the quarterly period ended March 31, 2001. Each of the referenced exhibits
was the subject of a request by the Company for confidential treatment of
certain portions of such exhibits. In response to comments received by the
Company from the Securities and Exchange Commission, the Company is filing the
attached amended exhibits to reflect the inclusion of certain information
originally subject to the confidential treatment request.

Except for Item 6(a), no other information included in the original report on
Form 10-Q is amended by this amendment.








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                           PART II- OTHER INFORMATION


ITEM 6 - EXHIBITS AND CURRENT REPORTS ON FORM 8-K

         (a)      Exhibits

                 Exhibit No.          Description of Exhibit

                  10.1     Service Provider Agreement dated April 6, 2001 by and
                           between PF.Net Corp. and Cisco Systems, Inc.,
                           portions of which have been deleted herein and
                           replaced with the symbol "**" pursuant to a request
                           by the Company to the Securities and Exchange
                           Commission for confidential treatment of these
                           portions.

                  10.2     Series B Senior Cumulative Convertible Preferred
                           Stock Purchase Agreement dated April 12, 2001 by and
                           between Cisco Systems, Inc. and Velocita Corp.





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                                   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.


                                          VELOCITA CORP.
                                          (Registrant)


                                          By:   /s/ Kirby G. Pickle, Jr.
                                             -----------------------------------
                                                Name:  Kirby G. Pickle, Jr.
                                                Title: Chief Executive Officer



                                          By:   /s/ W. Terrell Wingfield Jr.
                                             -----------------------------------
                                                Name:  W. Terrell Wingfield Jr.
                                                Title: Senior Vice President and
                                                       General Counsel



                                          Dated: March 5, 2002