U. S. SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549

                                   FORM 10-QSB

     [x] Quarterly report pursuant to Section 13 or 15(d) of the Securities
                             Exchange Act of 1934.
                  For the six month period ended June 30, 2000.


    [ ] Transition report pursuant to Section 13 or 15 (d) of the Securities
                             Exchange Act of 1934.

       For the transition period from ------------ to --------------


                         Commission File Number: 0-5367


                                  eWeb21 Corp.
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


          DELAWARE                                     11-1717709
       -------------------------------------------------------------------
       (State or other jurisdiction                  (I.R.S.Employer
       incorporation or organization                Identification No.)


                               21st Floor, Technomart
                          546-4 Kui-dong, Kwangjin-gu,
                              Seoul #143-721 Korea
                   -------------------------------------------
                    (Address of principal executive offices)


                                 +82 2 2204 3619
                           ---------------------------
                           (Issuer's telephone number)



                                (Not Applicable)
              ----------------------------------------------------
              (Former name, former address and former fiscal year,
                          if changed since last report)


     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 such shorter period that the
     registrant was required to file such reports), and

(2)  has been subject to such filing  requirements for the past 90 days.
     Yes [X]  No [ ]

     State the number of shares  outstanding of each of the issuer's  classes of
common equity as of the latest practicable date:

     15,849,343 shares of common stock as of November 15, 2000

     Transitional Small Business Disclosure Format Yes [  ]  No [X]

<PAGE>

                                     PART I
                              FINANCIAL INFORMATION

   PART I
                              FINANCIAL INFORMATION

        Item 1. Financial Statements

     The condensed financial  statements for the period ended September 30, 2000
included herein have been prepared by eWeb21 Corp.  (formerly D-Lanz Development
Group,  Inc.)  (the  "Company")  without  audit,   pursuant  to  the  rules  and
regulations of the Securities and Exchange Commission (the "Commission"). In the
opinion of  management,  the  statements  include all  adjustments  necessary to
present  fairly the financial  position of the Company as of September 30, 2000,
and the results of  operations  and cash flows for the nine month  period  ended
September 30, 2000.

     The Company's results of operations during the nine months of the Company's
fiscal year are not necessarily indicative of the results to be expected for the
full fiscal year.

     The  financial  statements  included  in  this  report  should  be  read in
conjunction with the financial statements and notes thereto in the the Company's
form 8-K filed as of April 30, 2000.

                                        2

<PAGE>


                                  eWeb21 Corp.
                          (a development stage company)

                           CONSOLIDATED BALANCE SHEET

                                                                 Septmber 30,
                                                 December 31,        2000
                                                     1999         Unaudited
                                                ------------------------------

                                     Assets

Current assets
  Cash and cash equivalents                      $   22,661     $3,731,223
  Accounts receivable                               823,041      1,481,872
  Short term loans receivable                                      516,521
  Advance payments                                  193,832      2,205,786
                                                  ----------      ---------
  Total current assets                            1,039,534      7,935,402

Property and equipment
  Vehicles                                                         144,668
  Equipment, furniture and fixtures                 122,046      1,154,287
  Less accumulated depreciation                      (7,000)      (302,228)
  Net property and equipment                        115,046        996,727

Other assets
  Guarantee deposit                                 235,444      1,769,674
  Government security deposit                            87             90
  Capitalized computer software                                  1,141,745
  Intangible assets                                   4,076         77,894
  Total other assets                                239,607      2,989,403
                                                 -----------   ------------
Total assets                                     $1,394,187    $11,921,532

                      Liabilities and Stockholders' Equity

Current liabilities
  Accounts payable and accrued expenses          $  752,813     $1,173,239
  Short-term borrowings                             519,273      1,878,520
  Deferred income                                    49,417        363,136
  Due to affiliated company                                        898,224
                                                 ----------     ----------
  Total current liabilities                        1,321503      4,313,119

Stockholders' equity
  Common Stock authorized
   50,000,000 shares,
   $0.001 par value each.                            15,000         15,000
Additional paid capital                              68,146      2,518,833
  Common stock subscribed                                        9,688,014
  Currency translation adjustment                     3,850         (6,054)
Deficit accumulated during the
  development stage                                 (14,312)    (4,607,380)
                                                  ----------   ------------
Total stockholders' equity                           72,684      7,608,413
                                                 -----------   ------------
Total liabilities and stockholders' equity       $1,394,187    $11,921,532
                                                 ===========   ============





                 See accompanying notes to financial statements

                                        3

<PAGE>


                                  eWweb21 Corp.
                          (a development stage company)

                      CONSOLIDATED STATEMENT OF OPERATIONS

<TABLE>
<CAPTION>

                                                     For the period                     For the period
                                                     from inception,   For the nine    from inception,
                                                       October 11,     months ended    October 11, 1999,
                                                        1999, to       September 30,   to September 30,
                                                    December 31, 1999       2000              2000
                                                                          Unaudited         Unaudited
                                                   ------------------------------------------------------
<S>                                                        <C>          <C>                  <C>


Revenue                                                    $409,892      $4,365,337          $4,775,229

Cost of services                                            348,408       3,390,087           3,738,495
                                                           --------       ---------           ---------
Gross profit                                                 61,484         975,250           1,036,734

Operations:
  Selling, general and administrative expenses               69,018       5,454,784           5,523,802
  Depreciation                                                  -0-             -0-                 -0-
                                                             ------       ---------           ----------

  Total expense                                              69,018       5,454,784           5,523,802

Income (Loss)  from operations and before
  corporate income taxes                                     (7,535)     (4,479,534)         (4,487,068)

Corporate income taxes                                        6,925                               6,925

Other income and expenses
  Interest income                                               147          11,822              11,969
  Interest expense                                                          (88,666)            (88,666)
  Foreign currency transaction loss-net                                     (29,446)            (29,446)
  Other net                                                                  (7,244)             (7,244)
                                                           ----------   ------------        ------------
                                                                 147       (113,534)           (113,387)

Net income (loss)                                           $(14,312)   $(4,593,068)        $(4,607,380)
                                                           ----------   ------------        ------------
Net income (loss) per share - basic                             0.00         $(0.10)
Number of shares outstanding - basic                      14,999,343     14,999,343
                                                          ==========     ===========
</TABLE>

                 See accompanying notes to financial statements.

                                        4

<PAGE>


                                 eWeb21 Corp.
                          (a development stage company)

                             STATEMENT OF CASH FLOWS

<TABLE>
<CAPTION>

                                           For the period from                           For the period from
                                            inception, October          For the           inception , October
                                               11, 1999, to         nine months ended        11, 1999, to
                                                December 31,        September 30, 2000    September 30, 2000
                                                   1999               Unaudited               Unaudited
                                           -------------------------------------------------------------------
<S>                                             <C>                  <C>                     <C>

CASH FLOWS FROM OPERATING ACTIVITIES
  Net income (loss)                             $ (14,312)           $(4,593,068)              $4,607,380
Adjustments to reconcile net profit (loss)
   to cash used in
   Depreciation of property and equipment           7,000                295,228                 302,228
  Non-cash payment for consulting fees                                                         2,450,687
  Increase in accounts receivable                (823,041)              (658,821)             (1,481,872)
  Increase in advance payments                   (191,479)            (2,011,954)             (2,205,786)
  Accounts payable and accrued expenses           750,460                420,426               1,173,239
  Deferred income                                  49,417                313,719                 363,136
                                                  --------            -----------             -----------
TOTAL CASH FLOWS FROM OPERATIONS                 (221,955)            (3,783,783)             (3,922,602)

CASH FLOWS FROM INVESTING ACTIVITIES
  Increase in guarantee deposit                  (235,444)            (1,534,230)             (1,769,674)
  Increase in short term loans receivable                               (516,521)               (516,521)
  Increase in computer software                                       (1,141,745)
  Increase in other investment assets                 (87)                    (3)                    (90)
  Purchase of vehicles, equipment,
   furniture and fixtures                        (122,046)            (1,176,909)             (1,298,955)
  Increase in intangible assets                    (4,076)               (73,818)                (77,894)
  Currency translation adjustment                  3 ,850                 (9,904)                 (6,054)
                                                 ---------            -----------             -----------
TOTAL CASH FLOWS FROM INVESTING ACTIVITIES       (357,803)            (4,453,140)             (4,810,933)

CASH FLOWS FROM FINANCING  ACTIVITIES
  Due to affiliated company                                              898,224                 898,224
  Increase in short term borrowings, net          519,273              1,359,247               1,878,520
  Sale and subscriptions of common stock           83,146              9,688,014               9,688,014
                                                 ---------             ----------             -----------
TOTAL CASH FLOWS FROM FINANCING ACTIVITIES        602,419             11,945,485              12,464,758

NET INCREASE (DECREASE) IN CASH                    22,661              3,708,562               3,731,223
CASH BALANCE BEGINNING OF PERIOD                                          22661                     -0-
                                                 ---------            -----------             -----------
CASH BALANCE END OF PERIOD                      $  22,661             $3,731,223              $3,731,223
                                                ==========            ===========             ===========

</TABLE>


                 See accompanying notes to financial statements.

                                        5

<PAGE>


                                  eWeb21 Corp.
                          (a development stage company)

                        STATEMENT OF STOCKHOLDERS EQUITY
<TABLE>
<CAPTION>
                                                                                                             Deficit
                                                                                                             accumulated
                                                                       Additional   Common     Currency      during
Date                       Preferred  Preferred   Common      Common    paid in     Stock      translation   development
                             stock       stock     stock       stock     capital   Subscribed  adjustment     stage         Total
                           ---------   ---------  ---------   --------   -------  ----------  ------------  ------------   ------

<S>                            <C>     <C>       <C>         <C>       <C>        <C>         <C>           <C>         <C>


Balance 12-31-1999             -0-     $  -0-    14,999,343  $15,000   $2,518,833               $  3,850      $(14,312)  $   72,684

Unaudited
Sale of common stock
  to be delivered                                                                  9,688,014                              9,688,014
Currency translation
   adjustment                                                                                     (9,904)                    (9,904)
Net loss                                                                                                    (4,593,068)  (4,593,068)
                              ------   -------   ----------  --------  ----------  ----------    --------  ------------  -----------
Balance September 30, 2000     -0-     $  -0-    14,999,343  $15,000   $2,518,833  $9,688,014    $(6,054)  $(4,607,380)  $7,608,413


</TABLE>










                 See accompanying notes to financial statements.

                                     6



<PAGE>

                                  eWeb21 Corp.
                          NOTES TO FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2000


     NOTE  A--BASIS  OF  PRESENTATION

     The  accompanying  unaudited  financial  statements  have been  prepared in
accordance with generally accepted principles for interim financial  information
as set forth in Article 10 of Regulation S-X.  Accordingly,  they do not include
all of the information and footnotes required by generally  accepted  accounting
principles for complete financial statements. In the opinion of management,  all
necessary  adjustments  (consisting  of normal  recurring  accruals)  considered
necessary  for a fair  presentation  have been  included.  Operating  results of
eWeb21 Corp.  (formerly D- Lanz Development Group, Inc.) (the "Company") for the
nine months  ended  September  30, 2000 are not  necessarily  indicative  of the
results that may be expected for the fiscal year ending December 31, 2000.

NOTE B--EARNINGS PER SHARE

     In 1997, the Financial Accounting Standards Board issued Statement No. 128,
"Earnings Per Share".  Statement No. 128 replaced the calculation of primary and
fully  diluted  earnings  per share with basic and diluted  earnings  per share.
Unlike primary earnings per share, basic earnings per share exclude any dilutive
effects of options, warrants, and convertible securities.  Dilutive earnings per
share is very similar to the  previously  reported  fully  diluted  earnings per
share. The Company adopted Statement No. 128 and has  retroactively  applied the
effects thereof for all periods  presented.  The impact on the per share amounts
previously reported was not significant.

NOTE C--Foreign Currency Transactions

     The functional  currency is the Korean Won. Monetary assets and liabilities
denominated in foreign  currencies are translated into Korean Won at the balance
sheet date and reported in U. S.  Dollars.  with the resulting  gains and losses
recognized in current  results of operations.  Monetary  assets and  liabilities
denominated in foreign  currencies are translated into Korean Won at W1,110.3 to
US$1, the rate of exchange on September 30, 2000. Revenue,  expenses,  gains and
losses from foreign currency  transactions are converted at the exchange rate in
effect on the date on which  the  transaction  occurred.  All  foreign  exchange
transaction gains and losses are included in the results of operations.  Balance
sheet accounts,  principally in Korean  currency,  are translated at the current
exchange rate as of the balance sheet date. The resulting translation adjustment
is recorded as a separate component of shareholders' equity.


                                       7
<PAGE>

NOTE D -- REORGANIZATION OF THE COMPANY

     During April, 2000, D-Lanz  Development Group, Inc.,  completed a series of
transactions as follows:

     a. Reverse Split

     In April,  2000, the Company  reversed split the number of shares of common
stock  outstanding  in a ration of 100 to 1  restating  the  number of shares of
common stock outstanding from 11,900,000 to 120,000.

     b. Formation of Subsidiary

     The Company formed a subsidiary with the name Global Agri-Med Technologies,
Inc. and on March 31, 2000 and in April,  2000  assigned  the License  rights to
certain patented technology to manufacture and market for the countries of Chile
and  Singapore a  temperature  sensing  device and  diagnostic  direct  reading,
digital  device to screen  the breast for  abnormalities,  including  cancer and
transferred the other assets and debts of the Company to this subsidiary.

     c. Reverse Merger of eWeb21 Corporation and Recapitalization of the Company

     In April,  2000, the Company  completed a reverse  acquisition with eWeb21,
Inc.,  a Korean  corporation,  which has been  accounted  for as the issuance of
11,880,000 shares of common stock by a private company for the net assets of the
Company,  accompanied by a recapitalization pursuant to an Agreement of Business
Combination,  the  ("Agreement"),   which  was  entered  into  in  March,  2000.
Accordingly,  the financial  statements of eWeb21,  Inc. became the consolidated
financial statements of the Company.

     The  consolidated  balance  sheet as of September  30, 2000 consists of the
unaudited  balance  sheet  of the  Company  as at  September  30,  2000  and the
unaudited  balance  sheet of  eWeb21 at  September  30,  2000 and the  unaudited
related statements of income,  cash flows and stockholders'  equity for the nine
months ended September 30, 2000 and the unaudited related  statements of income,
cash flows and stockholders'  equity for eWeb21,  Inc. for the nine months ended
September 30, 2000.

     d. Change of Corporation Name

     Subsequent to the date of the financial  statements the Company changed its
name to eWeb21 Corp.

NOTE E - INCOME TAXES

     The Company  provides for the tax effects of  transactions  reported in the
financial statements. The provision if any, consists of taxes currently due plus
deferred taxes related primarily to differences  between the basis of assets and
liabilities for financial and income tax reporting.  The deferred tax assets and
liabilities,  if any,  represent  the future tax  return  consequences  of those
differences,  which will  either be taxable  or  deductible  when the assets and
liabilities are recovered or settled.  As of December 31, 1999 and September 30,
2000, the Company had no material current tax liability, deferred tax assets, or
liabilities to impact on the Company's  financial  position because the deferred
tax asset  related to the  Company's  net  operating  loss carry forward and was
fully offset by a valuation allowance.

                                       8
<PAGE>

     At September 30, 2000,  the Company has net operating  loss carry  forwards
for income tax purposes of $4,607,380.  These carry forward losses are available
to offset future taxable income, if any, and expire in the year 2005.

     The  components  of the net deferred tax asset as of September 30, 2000 are
as follows:

          Deferred tax asset:

         Net operating loss carry forward                      $  1,566,509
         Valuation allowance                                    $(1,566,509)
         Net deferred tax asset                                   $     -0-


     The Company  recognized  no income tax benefit from the loss  generated for
the period  from the date of  inception  to  September  30,  2000.  SFAS No. 109
requires  that a valuation  allowance  be provided if it is more likely than not
that some  portion or all of a  deferred  tax asset  will not be  realized.  The
Company's  ability to realize  benefit of its  deferred tax asset will depend on
the  generation  of  future  taxable  income.  Because  the  Company  has yet to
recognize  significant  revenue  from  the  sale of its  products,  the  Company
believes that a full valuation allowance should be provided.

         NOTE F - COMMITMENTS AND CONTINGENCIES

     (a) Lease agreements

     The Company has located its operating and administrative  facilities at 21F
Techno-mart  546-4  Kui-dong,  Kwanggin-gu,  Seoul,  Korea  pursuant  to a lease
agreement  dated on Jan 1, 2000 for a term of 2 years with minimum annual rental
payments as follows:

     According to a lease terms and  conditions,  eWeb21,  Inc. has paid a lease
deposit ($1,345,677) when it made the lease contract.

     (b) Consulting Agreements

     The Company has entered in an consulting  agreement  with Samil  Accounting
corporation for a period of one year with an annual consulting fee of $5,400.

     (c) Retirement and Severance Benefits

     The Company's  retirement  and severance  program is that which is required
under Korean legislation.  Each employee is entitled to a lump-sum payment based
on a number of factors  when they leave the  Company.  The  employees  are fully
vested in these amounts and are entitled to receive the amounts immediately upon
separation.

     The  management  of the Company  believes  that the amount of the Company's
retirement and severance liability as of September 30, 2000 is immaterial due to
the  Company's  short period of operation  and,  therefore,  did not reflect the
corresponding   amount  of  liability  on  the  accompanying  balance  sheet  in
accordance with Korean GAAP.

                                       9
<PAGE>

     Under  U.S.  GAAP,  in  accordance  with  the  consensus  in the  Financial
Accounting  Standards  Board ("FASB")  Emerging Issues Task Force ("EITF") Issue
No. 88-1,  the basis of provision  for allowance  for  retirement  and severance
benefits liability is adequately disclosed.

     (d) Stock Option Plan

     The Company adopted the 2000 Equity Incentive Plan (hereinafter referred to
as the "Plan"), is (1)to provide a special incentive to selected individuals who
have made  contributions  to the  business  and  success of the  Company and its
subsidiaries (2) to provide special  incentives to selected  individuals who had
previously  made  contributions  to the business and success of eWeb21,  Inc. (a
private,  wholly-owned  subsidiary of the eWeb21 Corp.) and who  previously  had
been awarded special  incentive options which were never exercised and which now
have been cancelled. The Plan is designed to accomplish this purpose by offering
such individuals by offering them an opportunity to participate in the Company's
future performance through awards of Options, Restricted Stock and Stock Bonuses
(collectively "Awards").

     The Plan is administered by a committee (the "Committee") to be established
by the board of directors  of the Company  (the  "Board") or the Board acting as
the Committee.

     As of September 30, 2000, the Company issued 1,600,000 options. The Company
has reserved  1,600,000  shares of stock pending  conversion of the options into
shares of common stock.

         NOTE G - COMMON STOCK SUBSCRIBED

     As of  September  30,  2000,  the  Company's  subsidiary  eWeb21,  Inc. has
received an aggregate of $9,688,014 through various private placements completed
prior to the date of the Company's  reorganization  and will be issued shares of
common stock of the Company at a price as yet to be determined.

                                       10
<PAGE>

       NOTE H - SEGMENT AND REGIONAL INFORMATION

     All of the  Company's  operations  are  currently  represented  by Promoweb
software  sales.  Sales and costs by geographic area for the period from January
1, 2000 to September 30, 2000 are as follows:
<TABLE>
<CAPTION>


                     Sales of services                   Sales of merchandises                     Total
                     Won(thousand)      U.S.dollar     Won(thousand)    U.S.dollar    Won(thousand)     U.S.dollar
<S>                 <C>                <C>              <C>            <C>              <C>              <C>

                                   eWeb Korea

   Sales             W 1,738,598        $ 1,552,735      W3,029,628     $ 2,705,750     W 4,768,226     $ 4,258,485
   Costs of sales      1,401,264          1,251,463       2,302,517       2,056,370       3,703,781       3,307,833

   Gross Profit      W   337,334        $   301,272      W  727,111     $   649,380     W 1,064,445     $   950,652

                                   eWeb Japan

   Sales             W    38,812        $  34,663        W   77,655     $    69,353     W  116,467      $   104,016
   Costs of slaes         30,635           27,360            59,018          52,709         89,653           80,069

   Gross Profit      W     8,177        $   7,303        W   18,637     $    16,644     W   26,814      $    23,947


                                 eWeb Australia

   Sales             W     1,170        $   1,045        W    2,005     $     1,791     W    3,175      $     2,836
   Costs of sales            923              824             1,524           1,361          2,447            2,185

   Gross Profit      W       247        $     221        W      481     $       430     W      728      $       651

                                      Total


   Sales             W 1,778,580        $1,588,443       W3,109,288     $ 2,776,894     W 4,887,868     $ 4,365,337
   Costs of sales      1,432,822         1,279,647        2,363,059       2,110,440       3,795,881       3,390,087

   Gross Profit      W   345,758         $ 308,796       W  746,229     $   666,454     W 1,091,987     $   975,250
</TABLE>

     The balances of significant asset and liability accounts of service centers
as of September 30 of 2000 are as follows:
<TABLE>
<CAPTION>
                                                                          Won (thousands)
                                               eWeb Korea         eWeb Japan        eWeb Australia           Total
<S>                                       <C>                 <C>                <C>              <C>

           Accounts receivable             W     1,493,408     W     155,310     W       3,569    W        1,652,287
           Accounts payable                              -           117,050             2,713               119,763

</TABLE>

<TABLE>
<CAPTION>
                                                                            U.S. dollars
                                               eWeb Korea         eWeb Japan        eWeb Australia           Total
<S>                                       <C>                 <C>                <C>              <C>
           Accounts receivable             $     1,340,543     $     138,128     $       3,201     $       1,481,872
           Accounts payable                              -           104,978             2,433               107,411

</TABLE>

                                       11
<PAGE>

         NOTE I - COMPREHENSIVE INCOME

     Under U.S.  GAAP,  the  Company  applies the  provisions  of  Statement  of
Financial Accounting Standards ("SFAS") No.130, which requires the reporting and
display of comprehensive income and its components  (revenues,  expenses,  gains
and losses) for period presented. As of September 30, 2000, the Company does not
have  any  other  comprehensive  income  (loss)  items  that  are  required  for
disclosure under U.S. GAAP and total comprehensive income (loss) is equal to net
loss for the period from January 1, 2000 to September 30, 2000.

         NOTE J - COMMON STOCK

     For the period from January 1, 2000 to September 30, 2000, the Company sold
an aggregate of 549,214 shares of common stock for an aggregate consideration of
W2,746,070,000 ($2,450,687)

Item 2. Management's Discussion and Analysis of Plan of operation

         MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
      RESULTS OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER  30, 2000


     The following  discussion relates to the results of our operations to date,
and our financial condition:

     This  FORM  10QSB  contains  forward  looking  statements  relating  to our
Company's  future economic  performance,  plans and objectives of management for
future operations, projections of revenue mix and other financial items that are
based  on the  beliefs  of,  as well  as  assumptions  made  by and  information
currently  known to, our  management.  The words  "expects,  intends,  believes,
anticipates,  may, could, should" and similar expressions and variations thereof
are intended to identify forward-looking  statements.  The cautionary statements
set forth in this  section are  intended to  emphasize  that actual  results may
differ materially from those contained in any forward looking statement.

                                       12
<PAGE>

Development stage activities.

     The Company has been a  development  stage  enterprise  from its  inception
Octtober  11,  1999 to  September  30,  2000.  The  Company is in the process of
developing  a web site on the World Wide Web for the  purpose of selling  health
care products and sharing its expertise by doing consulting.

     On April 15,  2000,  the  Company  entered  into an  Agreement  of Business
Combination with the eWeb21,  Inc., a Korean corporation,  whereby,  the Company
issued  14,880,000  shares of common  stock for all the issued  and  outstanding
shares of common stock of eWeb.  The  transaction  has been  accounted for as th
issuance  of shares of common  stock by a private  company for the net assets of
the Company,  accompanied  by a  recapitalization.  Accordingly,  the  financial
statements of eWeb become the financial statements of the Company.

     During  this  period,  management  devoted  the  majority of its efforts to
initiating  the  process  of the web site  design  and  development,  developing
Internet relationships such as communications service links, customers and other
Internet Presence Providers to enhance the Companies  offerings,  developing and
testing  its  marketing  strategy  and  finding a  management  team to begin the
process  of:  completing  its  marketing  goals;  furthering  its  research  and
development  for its  products;  completing  the  documentation  for and selling
initial shares through the Company's  private  placements;  completing a reverse
merger with Eweb21 Corp;  and  completing  the  documentation  for the Company's
initial  public  offering.   These  activities  were  funded  by  the  Company's
management through the initial sale of shares of eWeb's common stock aggregating
$20,000;  investments  from  stockholders  through the sale of 215,521 shares of
common  stock of eWeb  aggregating  $9,688,014  and  borrowing  an  aggregate of
$1,878,520 on a short term basis.  The Company has not yet generated  sufficient
revenues  during its limited  operating  history to fund its  ongoing  operating
expenses,  repay  outstanding  indebtedness,  or fund its web  site and  product
development  activities.  There can be no assurance that  development of the web
site will be completed and fully tested in a timely manner and within the budget
constraints of management and that the Company's marketing research will provide
a profitable path to utilize the Company's marketing plans.  Further investments
into web site  development,  marketing  research  as  defined  in the  Company's
operating plan will significantly  reduce the cost of development,  preparation,
and  processing of purchases  and orders by enabling the Company to  effectively
compete in the electronic market place.

     For the next 12 months,  the  Company  plans to devote the  majority of its
efforts  to  (i)  obtaining  financing  to  build   administrative  and  service
facilities  to market its  software,  services and  products,  (ii) pursuing and
finding a management  team to continue the process of  completing  its marketing
goals and to develop new  markets.  The Company  anticipates  it will be able to
expand its operations.  The Company  anticipates  that its results of operations
may fluctuate for the foreseeable  future due to several factors,  including the
timing of the  introduction  of the Company's  products into its target markets;
whether and when new products are successfully developed by the Company,  market
acceptance of current or new products, competitive pressures on pricing, changes
in the mix of products sold.  Operating results would also be adversely affected
by a downturn in the market for current  technology  it improved  technology  is
introduced. Because the Company is continuing to increase its operating expenses
for  personnel  and other  general and  administrative  expenses,  the Company's
operating   results   would  be   adversely   affected  if  its  sales  did  not
correspondingly increase. The Company's limited operating history makes accurate
prediction of future operating results difficult or impossible.

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<PAGE>

     The Company's results of operations for the nine months ended September 30,
2000 should be viewed with considerable caution due to the following factors:

     1) Results of operations for the period from  inception,  October 11, 1999,
to December  31, 1999 and for the nine months  ended  September  30, 2000 do not
reflect a full year's  worth of  revenues  but rather 51 days of revenues as the
Company since only commenced generating revenues beginning October 11 of 1999.

     2) Inherent in any  acquisitions  are costs which arise from integration of
operations into the Company's existing business operations. Many of these may be
viewed as one-time,  non- recurring  charges which are not likely to be repeated
in future performance periods.

     The Company plans to invest heavily in marketing and promotion,  the hiring
of additional  employees  and the  enhancement  of our websites and  operational
infrastructure.  Therefore,  it expectz to incur increasing sales and marketing,
product  development and general and  administrative  expenses.  As a result, it
will need to  generate  higher  revenue to achieve and  maintain  profitability,
although  it may never be able to do so. If its  revenue  growth is slower  than
anticipated, or our operating expenses exceed our expectations,  its losses will
be significantly greater.

     Due to  these  factors,  the  September  30,  2000  results  of  operations
discussed  below may not be an accurate  indication  of future  performance.  In
addition,  comparison  of results for the nine months ended  September  30, 2000
with those for the nine months ended  September  30, 1999 are  difficult to make
due to the basic dissimilarity  between a developing stage company and a company
that has  commenced  substantial  business  operations  beginning in October 11,
1999.

Results of Operations for the nine months ended September 30, 2000.

     NET  SALES.  Revenues  consist of consist  of  Promoweb  product  sales and
services,  net of any discounts and reserves for expected returns.  Revenue were
aggregated  $4,365,337  for the nine months  ended  September  30,  2000.  These
minimal  revenues  primarily  resulted from expanded  marketing  efforts and the
introduction of new product lines.  During this period, the Company has expanded
its operations into the geographic areas of Korea, Japan and Australia.

     Direct costs. Direct costs consist of telecommunications charges in respect
of providing internet connection services to customers. These costs are expensed
as  incurred.  For the  nine  months  ended  September  30,  2000,  these  costs
aggregated $3,390,087.

     Selling,  general and administrative expenses. Sales and marketing expenses
consist primarily of advertising  costs, order processing and fulfillment costs,
credit  card costs and the  salary and  benefits  of our  sales,  marketing  and
customer service personnel.  Advertising costs include online marketing efforts,
print advertising and direct marketing  campaigns.  Sales and marketing expenses
aggregated  $1,976,457 for the nine months ended September 30, 2000. The Company
intends to continue to pursue an  aggressive  marketing  strategy to attract new
customers.  Therefore,  it expects  sales and  marketing  expenses  to  increase
significantly in future periods.

     Other  income  and  expense,  net  other  income  (expense),  net  consists
primarily of earnings on our cash and cash equivalents of $11,822,  and interest
payments  on our loan and lease  agreements  of  $88,666  and  foreign  currency
transaction loss-net of $29,446.

                                       14
<PAGE>

     BENEFIT  (PROVISION)  FOR INCOME  TAXES.  As a result of the  pre-tax  loss
recorded for the period from inception,  October 11, 1999 to September 30, 2000,
the Company not recorded a benefit for Federal income taxes. Instead the Company
recognized  no income tax benefit from the losses  generated for the period from
inception,  October 11, 1999 to September 30, 2000. SFAS No. 109 requires that a
valuation  allowance be provided if it is more likely than not that some portion
or all of a deferred tax asset will not be realized.  The  Company's  ability to
realize  benefit of its  deferred  tax asset will  depend on the  generation  of
future  taxable  income.  Because the Company has yet to  recognize  significant
revenue from the sale of its products and services,  the Company believes that a
full valuation allowance should be provided. The Company will continue to assess
the likelihood of realization  of such assets;  however,  if future events occur
which make the realization of such assets more likely than not, the Company will
record a tax benefit.

Liquidity and Capital Resources.

     The  Company's  cash balance at December 31, 1999 and September 30, 2000 is
$22,661 and $3,731,223  respectively.  Working  capital at December 31, 1999 and
September  30, 2000 is negative at December 31, 1999 by $327,309 and positive at
at September 30, 2000 by $3,622,283. For the period from inception,  October 11,
1999,  to December 31, 2000,  working  capital was provided by sale of shares of
common stock  aggregating  $83,146 and an increase in short term  borrowings  of
$519,273.  The Company  expended  cash  through the  purchase of other assets of
$122,046;  payment  of a  guarantee  deposit  for  rent for  $235,444,  software
development costs of $4,076, and cash used in operations of $220,908.

     For the nine months ended  September  30, 2000,  the Company sold shares of
its common stock for an aggregate  consideration  opf  9,688,014  and  increased
short  term  borrowings  by  $1,359,247.  Cash was used by the  Company  through
operations  of  $3,783,783,  increasing  the Company's  guarantee  deposit by an
additional  $1,534,230,  increasing  short term loans  receivable  by  $516,521,
purchase  of  intangible  assets  of  $73,818,   purchase  of  fixed  assets  of
$1,176,909, payment of monies for software development costs of $1,241,745 and a
loss of currency transaction adjustment of $9,904.



                                       15
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                                   SIGNATURES

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


                                 eWeb21 Corp.


                                  /s/Hyo-Sung Choi
                                  ----------------
                                  Hyo-Sung Choi,
                                  Chief Financial Officer


Dated:     November 30, 2000






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