U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)
[X]             QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934
         For the quarterly period ended: September 30, 2001

[ ]            TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE
                                  EXCHANGE ACT
         For the transition period from ______________ to ______________

                         Commission file number 0-23871

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

                    COLORADO                            84-1434323
         (State or other jurisdiction of              (IRS Employer
          incorporation or organization)           Identification No.)

     14500 NORTH NORTHSIGHT BOULEVARD, SUITE 213, SCOTTSDALE, ARIZONA 85260
                    (Address of principal executive offices)

                                 (480) 556-0850
                           (Issuer's telephone number)

                                 NOT APPLICABLE
              (Former name, former address and former fiscal year,
                          if changed since last report)

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

             28,092,181 SHARES OF COMMON STOCK, NO PAR VALUE, AS OF
                               NOVEMBER ____, 2001

Transitional Small Business Disclosure Format (check one);  Yes       No   X
                                                                -----    -----




<PAGE>

                          CROSSNET COMMUNICATIONS, INC.

                                      INDEX

PART I - FINANCIAL INFORMATION

   Item 1.    Financial Statements

              Consolidated Balance Sheet.......................................4

              Consolidated Statements of Loss..................................5

              Consolidated Statements of Cash Flows............................7

              Consolidated Statement of Stockholders' Deficiency and
              Comprehensive Loss...............................................8

              Notes to Consolidated Financial Statements.......................9

     Item 2.  Management's Discussion and Analysis or Plan of Operation.......11


PART II - OTHER INFORMATION

     Item 1.  Legal Proceedings...............................................16

     Item 2.  Changes in Securities...........................................16

     Item 3.  Defaults Upon Senior Securities.................................16

     Item 4.  Submission of Matters to a Vote of Security Holders.............16

     Item 5.  Other Information...............................................16

     Item 6.  Exhibits and Reports on Form 8-K................................17


SIGNATURES....................................................................18

                                        2

<PAGE>












                        Consolidated Financial Statements of

                        CROSSNET COMMUNICATIONS INC.

                        (A Development Stage Enterprise)

                        Nine month period ended September 30, 2001

                        (Unaudited)







                                        3

<PAGE>

CROSSNET COMMUNICATIONS INC.
(A Development Stage Enterprise)
Consolidated Balance Sheets
$ United States
September 30, 2001 and December 31, 2000
<TABLE>
<CAPTION>
============================================================================================================
                                                                     September 30,             December 31,
                                                                              2001                     2000
                                                                       (Unaudited)
------------------------------------------------------------------------------------------------------------
<S>                                                                   <C>                      <C>

ASSETS

Current assets
     Cash                                                             $     82,925             $    151,996
     ACCOUNTS RECEIVABLE                                                         -                      500
     -------------------------------------------------------------------------------------------------------
                                                                            82,925                  152,496

Fixed assets                                                                 1,628                    2,490

WEBSITE DEVELOPMENT                                                            -                      6,486
------------------------------------------------------------------------------------------------------------

                                                                      $     84,553             $    161,472
============================================================================================================

LIABILITIES AND STOCKHOLDERS' DEFICIENCY

Current liabilities
     Accounts payable and accrued liabilities                         $     37,420             $     19,364
     Note payable to stockholder (note 3)                                  195,000                  195,000
     DUE TO RELATED PARTY                                                        -                   11,359
     -------------------------------------------------------------------------------------------------------
                                                                           232,420                  225,723
Stockholders' deficiency
     Capital stock:
           100,000,000  voting common shares without par value
                        authorized, 27,452,881 (December 31, 2000
                         - 10,000,021) issued                                8,151                    8,151
            10,000,000  non-voting preferred shares without par
                        value, issuable in series authorized,
                        63,930 (December 31, 2000 - 1,809,216)
                        Series A convertible preferred shares,
                        convertible into 10 common shares
                        per preferred share, issued                              1                        1

     DEFICIT ACCUMULATED DURING THE DEVELOPMENT STAGE                     (156,019)                 (72,403)
     -------------------------------------------------------------------------------------------------------
                                                                          (147,867)                 (64,251)
------------------------------------------------------------------------------------------------------------

                                                                      $     84,553             $    161,472
============================================================================================================
</TABLE>

See accompanying notes to consolidated financial statements.

                                        4

<PAGE>

CROSSNET COMMUNICATIONS INC.
(A Development Stage Enterprise)
Consolidated Statements of Loss
$ United States
(Unaudited)

<TABLE>
<CAPTION>
===================================================================================================================
                                                          From Inception          Nine month        From inception
                                                        (March 21, 2000)        period ended      (March 21, 2000)
                                                        to September 30,       September 30,      to September 30,
                                                                    2001                2001                  2000
-------------------------------------------------------------------------------------------------------------------
<S>                                                       <C>                    <C>                <C>

Revenue
     Website maintenance fees                             $        7,275         $         -        $        5,775
     INTEREST INCOME                                               5,216               2,911                     -
     --------------------------------------------------------------------------------------------------------------
                                                                  12,491               2,911                 5,775

Expenses
     Amortization of fixed assets                                  1,819                 862                   707
     Amortization of website development                           7,525               6,486                 1,252
     Bad debts                                                       500                 500                     -
     Consulting fees                                               5,000                  -                  5,000
     Interest                                                     27,755              17,550                 4,355
     Internet hosting                                                788                 357                   288
     Office and administrative                                     1,670                 818                   125
     Professional fees                                            48,063              27,842                     -
     Rent                                                          7,000               4,500                 1,000
     Salaries and benefits                                        38,016              24,799                 2,848
     Software project costs                                        1,500               1,500                     -
     TRANSFER AGENT FEES                                           3,221               1,313                     -
     --------------------------------------------------------------------------------------------------------------
                                                                 142,857              86,527                15,575
-------------------------------------------------------------------------------------------------------------------

Loss                                                      $     (130,366)        $   (83,616)       $       (9,800)
===================================================================================================================

Weighted average number of common shares
  outstanding, basic and diluted                              19,740,539          28,092,181             7,540,362

Loss per share                                            $        (0.01)        $     (0.00)       $        (0.00)
===================================================================================================================

</TABLE>

See accompanying notes to consolidated financial statements.


                                        5

<PAGE>


CROSSNET COMMUNICATIONS INC.
(A Development Stage Enterprise)
Consolidated Statements of Loss
$ United States
(Unaudited)

<TABLE>
<CAPTION>
====================================================================================================
                                                                     Three month        Three month
                                                                    period ended       period ended
                                                                   September 30,      September 30,
                                                                            2001               2000
----------------------------------------------------------------------------------------------------
<S>                                                                <C>                <C>

Revenue
     Website maintenance fees                                      $           -      $       5,775
     INTEREST INCOME                                                         564                  -
     -----------------------------------------------------------------------------------------------
                                                                             564              5,775

Expenses
     Amortization of fixed assets                                            287                299
     Amortization of website development                                   5,241              1,252
       Bad debts                                                             500                  -
     Consulting fees                                                           -              5,000
     Interest                                                              5,850              4,355
     Internet hosting                                                        102                288
     Office and administrative                                               214                 37
     Professional fees                                                    10,685                  -
     Rent                                                                  1,500              1,000
     Salaries and benefits                                                 8,074              2,848
     Software project costs                                                    -                  -
     TRANSFER AGENT FEES                                                     235                  -
     -----------------------------------------------------------------------------------------------
                                                                          32,688             15,079
----------------------------------------------------------------------------------------------------
Loss                                                               $     (32,124)     $      (9,304)
====================================================================================================

Weighted average number of common shares
  outstanding                                                         28,092,181          7,472,477

Loss per share                                                     $       (0.00)     $       (0.00)
====================================================================================================
</TABLE>

See accompanying notes to consolidated financial statements.



                                        6

<PAGE>



CROSSNET COMMUNICATIONS INC.
(A Development Stage Enterprise)
Consolidated Statements of Cash Flows
$ United States
(Unaudited)

<TABLE>
<CAPTION>
==================================================================================================================
                                                          From Inception           Nine month       From inception
                                                        (March 21, 2000)         period ended     (March 21, 2000)
                                                        to September 30,        September 30,     to September 30,
                                                                    2001                 2001                 2000
------------------------------------------------------------------------------------------------------------------
<S>                                                       <C>                    <C>                <C>
Cash provided by (used in):

Operations
     Loss                                                 $    (130,366)         $   (83,616)       $      (9,800)
     Item not involving cash:
         Amortization                                             9,344                7,348                1,959
     Changes in non-cash working capital:
         Accounts receivable                                          -                  500               (3,275)
         Accounts payable and accrued liabilities                23,128               18,056                4,350
         DUE TO RELATED PARTY                                   (11,359)             (11,359)                   -
     -------------------------------------------------------------------------------------------------------------
                                                               (109,253)             (69,071)              (6,766)
Financing
     Note payable to stockholder                                195,000                    -              195,000
     ISSUE OF COMMON SHARES FOR CASH                              8,100                    -                8,150
     -------------------------------------------------------------------------------------------------------------
                                                                203,100                    -              203,150
Investments
     Expenditures on fixed assets                                (3,447)                   -               (3,865)
     WEBSITE DEVELOPMENT COSTS                                   (7,475)                   -               (7,475)
     -------------------------------------------------------------------------------------------------------------
                                                                (10,922)                   -              (11,340)
------------------------------------------------------------------------------------------------------------------
Increase (decrease) in cash                                      82,925              (69,071)             185,224

Cash, beginning of period                                             -               151,996                   -

------------------------------------------------------------------------------------------------------------------
Cash, end of period                                       $      82,925          $     82,925       $     185,224
==================================================================================================================

Supplementary information
  Interest paid                                           $           -          $          -       $           -
  Income taxes paid                                       $           -          $          -       $           -
==================================================================================================================

Non-cash financing activities
  Common shares issued for website software               $          50          $          -       $           -
  Common shares issued upon share exchange                $           1          $          -       $           1
  Preferred shares issued upon share exchange             $                1     $          -       $           1
  Liabilities assumed on business combination             $     (25,651)         $          -       $     (26,651)
==================================================================================================================
</TABLE>

See accompanying notes to consolidated financial statements.

                                        7

<PAGE>



CROSSNET COMMUNICATIONS INC.
(A Development Stage Enterprise)
Consolidated Statement of Stockholders' Deficiency and Comprehensive Loss
$ United States
From inception on March 21, 2000 to September 30, 2001
(Unaudited)

<TABLE>
<CAPTION>
======================================================================================================================
                                                                                           Deficit
                                                                                       Accumulated
                                                              Series A Convertible      during the             Total
                                       Common Stock              Preferred Stock       development     Stockholders'
                                   Shares       Amount        Shares          Amount         stage        Deficiency
----------------------------------------------------------------------------------------------------------------------
<S>                             <C>           <C>           <C>             <C>         <C>             <C>

Shares issued for cash
  on March 23, 2000                607,448    $     100        127,860      $     -     $        -      $       100
Shares issued for software
  on May 15, 2000                  303,724           50         63,930            -              -               50
Shares issued for cash
  on July 26, 2000               7,593,103        5,000      1,598,247            -              -            5,000
Shares issued for cash
  ON AUGUST 6, 2000                 91,117        3,000         19,179            -              -            3,000
----------------------------------------------------------------------------------------------------------------------
                                 8,595,392        8,150      1,809,216            -              -            8,150
Shares held by the
  Company's stockholders
  prior to recapitalization
  TRANSACTION                    1,404,629            1              -            1        (25,653)         (25,651)
----------------------------------------------------------------------------------------------------------------------
                                10,000,021        8,151              -            1        (25,653)         (17,501)
Comprehensive loss:
  Loss                                   -            -              -            -        (46,750)         (46,750)
----------------------------------------------------------------------------------------------------------------------
Balance,
  December 31, 2000             10,000,021        8,151      1,809,216            1        (72,403)         (64,251)

Common shares issued on
  conversion of Series A
  convertible preferred
  stock                         17,452,860            -     (1,745,286)           -              -                -

Comprehensive loss:
  Loss                                   -            -              -            -        (83,616)         (83,616)
----------------------------------------------------------------------------------------------------------------------
Balance,
  September 30, 2001            27,452,881    $   8,151         63,930      $     1     $ (156,019)     $  (147,867)
======================================================================================================================
</TABLE>

See accompanying notes to consolidated financial statements.


                                        8

<PAGE>


CROSSNET COMMUNICATIONS INC.
(A Development Stage Enterprise)
Notes to Consolidated Financial Statements
$ United States
Period ended September 30, 2001
(Unaudited)
================================================================================

1.       BASIS OF PRESENTATION:

         Crossnet  Communications  Inc.  (the  "Company")  was  incorporated  on
         September 19,  1997  under the  laws  of  the  state of  Colorado.   As
         disclosed  in  the  December  31, 2000  audited  financial  statements,
         effective  September 25, 2000  the  Company acquired 100% of the issued
         and outstanding  shares of Autovenu, Inc. ("Autovenu") in a transaction
         accounted for as  a recapitalization  of  Autovenu.   Accordingly,  the
         consolidated   statements  of  loss,   stockholders'   deficiency   and
         comprehensive  loss  and cash  flows,  where  applicable,  reflect  the
         results of  operations and  cash flows of Autovenu, for the period from
         incorporation of Autovenu  on March 21, 2000 combined with those of the
         Company  from  the  recapitalization  date of  September 25, 2000.  The
         Company's  principal business  activities include  the development  and
         marketing   of    software   applications    targeted    at    specific
         business-to-business  e-commerce industries.  To September 30, 2001, it
         has not generated significant revenues and is continuing to develop its
         business model.  Accordingly,  the Company is in  the development stage
         for financial reporting purposes.

         The  information  included  in  the accompanying  consolidated  interim
         financial statements  is unaudited.  In the  opinion of management, all
         adjustments, consisting solely  of normal recurring accruals, necessary
         for a fair presentation for  the interim  periods presented,  have been
         reflected herein. Readers of these financial statements should read the
         annual audited financial statements of the Company filed on Form 10-KSB
         in  conjunction  herewith.  The results of  operations for  the interim
         periods presented  are not  necessarily indicative of the results to be
         expected for the entire fiscal year.

2.       GOING CONCERN:

         These  financial  statements  have been  prepared on the going  concern
         basis,  which  assumes the  realization  of assets and  liquidation  of
         liabilities  in the  normal  course of  business.  Certain  conditions,
         discussed below,  currently exist which raise  substantial  doubt about
         the  validity  of this  assumption.  The  financial  statements  do not
         include  any  adjustments  that might  result  from the outcome of this
         uncertainty.  As shown in the consolidated  financial  statements,  the
         Company has incurred a loss for the period since inception of $130,366,
         and at September 30, 2001 has a working capital deficiency of $149,495.
         Management  plans  to rely on  continued  financial  support  from  its
         majority  stockholder,  and to  actively  seek  merger and  acquisition
         opportunities  with  businesses  that  may have  applications  directly
         related to the internet.  Failure to consummate a merger or acquisition
         or the loss of financial support from the



                                        9

<PAGE>

CROSSNET COMMUNICATIONS INC.
(A Development Stage Enterprise)
Notes to Consolidated Financial Statements
$ United States
Period ended September 30, 2001
(Unaudited)
================================================================================


         Company's  majority  shareholder  will cause the Company to curtail its
         operations.  Management  believes  the Company has  sufficient  working
         capital to fund operations for the next six months.

3.       NOTE PAYABLE TO STOCKHOLDER:

         The note is  unsecured  and bears  interest at 12% per annum.  Interest
         payable on the note aggregating  $21,905 (December 31, 2000 - $10,205),
         is  included  in  accounts  payable  and  accrued  liabilities  in  the
         accompanying  balance  sheet.  The due  date of the  note  payable  was
         extended from July 24, 2001 to December 24, 2001.

4.       SUBSEQUENT EVENT

         Subsequent  to  September  30,  2001,  the  remaining  63,930  Series A
         convertible preferred  shares were converted into 639,300 common shares
         of the Company.














                                       10

<PAGE>



ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Unless the context otherwise requires, the terms "we", "our" and "us" refers to
Crossnet Communications, Inc. and its wholly-owned subsidiary, Autovenu, Inc.

CAUTION

Certain statements in this Quarterly Report on Form 10-QSB, our Annual Report on
Form 10- KSB for our fiscal year ended December 31, 2000, our Annual Report to
Shareholders, as well as statements made by us in periodic press releases, oral
statements made by our officials to analysts and shareholders in the course of
presentations about ourselves, constitute "forward- looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks, uncertainties, and
other factors that may cause the actual results, performance or achievements of
us to be materially different from any future results, performance or
achievements expressed or implied by the forward looking statements. Such
factors include, among other things, (1) general economic and business
conditions; (2) interest rate changes; (3) the relative stability of the debt
and equity markets; (4) competition; (5) the availability and cost of the
products used in our Web sites; (6) demographic changes; (7) government
regulations particularly those related to Internet commerce; (8) required
accounting changes; (9) equipment failures, power outages, or other events that
may interrupt Internet communications; (10) disputes or claims regarding our
proprietary rights to our software and intellectual property; and (11) other
factors over which we have little or no control.

BASIS OF PRESENTATION

On September 25, 2000, we entered into a Share Exchange Agreement with the
shareholders of Autovenu, Inc., a Delaware corporation. In accordance with the
share exchange, the former shareholders of Autovenu, Inc. now control us and new
officers and directors were appointed. As a result, the share exchange has been
accounted for as a capital transaction, as if Autovenu, Inc. had issued shares
for consideration equal to our net tangible assets followed by a
recapitalization of our shares of common stock. Consequently, our consolidated
statements of loss, stockholders' deficiency and comprehensive loss and cash
flows reflect the results of operations and cash flows of Autovenu, Inc. for the
period from its inception (March 21, 2000) to September 30, 2001, combined with
ours from the recapitalization date of September 25, 2000.

SELECTED FINANCIAL DATA

Our selected financial data for the period from inception (March 21, 2000) to
September 30, 2001 shown below is derived from our consolidated financial
statements. The financial data derived from the statements should be read in
conjunction with our consolidated financial statements and the notes included
elsewhere in this report.



                                       11

<PAGE>



<TABLE>
<CAPTION>

         BALANCE SHEET DATA:                        SEPTEMBER 30, 2001           DECEMBER 31, 2000
<S>                                                    <C>                         <C>

         Current Assets                                $    82,925                 $  152,496
         Total Assets                                  $    84,553                 $  161,472
         Current Liabilities                           $   232,420                 $  225,723
         Stockholders' Deficiency                      $   147,867                 $   64,251
         Working Capital Deficiency                    $   149,495                 $   73,227
</TABLE>

<TABLE>
<CAPTION>
         STATEMENT OF LOSS DATA:            MARCH 21, 2000          NINE MONTHS           MARCH 21, 2000
                                            (INCEPTION) TO             ENDED              (INCEPTION) TO
                                             SEPTEMBER 30,         SEPTEMBER 30,          SEPTEMBER 30,
                                                 2001                   2001                   2000

<S>                                            <C>                   <C>                    <C>
            Website Maintenance Fees           $    7,275            $       0              $    5,775
            Net Loss                           $  130,366            $  83,616              $    9,800
            Net Loss per Share                 $    (0.01)           $   (0.00)             $    (0.00)
</TABLE>

OVERVIEW

We have two separate business divisions: (1) we are implementing the business
plan of Autovenu, Inc.; and (2) we are a "shell" company actively seeking merger
and acquisition opportunities.  We are in the development stage and have
generated limited revenues.

We were originally incorporated under the name Buffalo Capital VII, Ltd. in the
State of Colorado on September 19, 1997. From our inception to June 18, 1999, we
operated as a "shell" company and our business plan was to seek out and take
advantage of business opportunities that may have the potential for profit, and
to acquire such businesses or a controlling interest therein.

On June 18, 1999, we entered into a Reorganization and Stock Purchase Agreement
with Workfire.com, a company incorporated under the laws of the State of Nevada
("Workfire- Nevada"). Under the agreement, we acquired 89% of the issued and
outstanding shares of Workfire-Nevada and changed our name to Workfire.com, Inc.
As a result of the agreement, the shareholders of Workfire-Nevada became our
controlling shareholders.

On November 5, 1999, we approved a resolution to distribute all of our shares of
Workfire- Nevada to our shareholders on a pro-rata basis. We believed this was
necessary in order to provide funding for Workfire-Nevada. As a result of the
share distribution, we no longer owned or controlled Workfire-Nevada and became
a shell company with no active operations. On February 7, 2000, we changed our
name to BCS Investment Corporation and actively sought a merger or acquisition
opportunity.

On September 25, 2000, we entered into a Share Exchange Agreement with the
shareholders of Autovenu, Inc., a Delaware corporation.  Autovenu, Inc. is a
software development company

                                       12

<PAGE>



whose business model includes the acquisition and development of Internet
related software and technology. We consummated the acquisition by exchanging
303.7241 shares of our common stock and 6.393 shares of our Series A preferred
stock (both pre reverse stock split) for each issued and outstanding share of
common stock of Autovenu, Inc. The Series A preferred stock is convertible into
100 shares of common stock without additional consideration. Autovenu, Inc. had
a total of 283,000 issued and outstanding shares of common stock. The
shareholders of Autovenu, Inc. were Mark Moldenhauer, Jules Lee Wurzel and
BusinessTradeCenter.com, Inc. As a result of the share exchange, the former
shareholders of Autovenu, Inc. now control us and new officers and directors
were appointed.

As a result of the share exchange, we develop and market computer database
software designed to facilitate the identification and viewing of automobiles
over the Internet prior to being auctioned for sale to the public. Our software
is designed to allow a public car auction to attract potential buyers
expeditiously and efficiently by establishing an Internet presence.

Effective December 18, 2000, we implemented a 1-for-10 reverse stock split and
changed our name to Crossnet Communications, Inc. Except where otherwise
indicated, all information in this Quarterly Report on Form 10-QSB has been
presented to give retroactive effect to the reverse stock split.

We are in the development stage and have generated limited revenues. We had a
net loss of $130,366 from inception (March 21, 2000) through September 30, 2001,
and a stockholders' deficiency of $147,867 at September 30, 2001. We had a
working capital deficiency of $149,495 at September 30, 2001. These factors
raise substantial doubt about our ability to continue as a going concern. The
consolidated financial statements and the financial information set out herein
do not include any adjustments that might result from the outcome of this
uncertainty. We have limited operations and require additional financing.
Ultimately we need to generate revenues and successfully attain profitable
operations. Our previous capital needs have been met by equity offerings and
loans from related parties. There can be no assurance that we will be able to
market and distribute Internet related software and technology. Even if we are
able to market and distribute the software and technology, there is no assurance
that we will be able to attain profitable operations.

REVENUES

We incurred a net loss of $130,366 for the period from inception (March 21,
2000) through September 30, 2001. We had no revenues for the nine month period
ended September 30, 2001, and we generated interest income of $2,911. Our only
source of revenues has been through our licensing agreement with
PublicCarAuctions, Inc. Under our licensing agreement, we received $500 per
month in fees. During the nine months ended September 30, 2001, we did not
receive any revenues from PublicCarAuctions, Inc. At this time, our relationship
with PublicCarAuctions, Inc. has been suspended because of the economic failure
of PublicCarAuctions, Inc. and we are unable to predict the certainty of future
revenues. There can


                                       13

<PAGE>



be no assurance that we will be able to secure other agreements for the sale,
installation and maintenance of our software.

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

We incurred expenses of $142,857 for the period from inception to September 30,
2001, which included consulting fees $5,000; interest $27,755; professional fees
$48,063; and salaries and benefits $38,016. Website development costs which were
incurred in the planning stages were expensed when incurred. The costs of
application and infrastructure development which are incurred subsequent to the
project stage, and that have received management's approval for further
development, are capitalized and amortized on the straight-line method over
their estimated useful life, which is estimated to be one year.

LIQUIDITY AND FINANCIAL CONDITION

The cash requirements of funding our operations and acquisitions have exceeded
cash flows from operations. We have satisfied our capital needs primarily
through debt and equity financing. For the period since inception, the statement
of cash flows reflects net cash used in operating activities of $109,253, which
was offset by net cash provided by financing activities of $203,100. At
September 30, 2001, we had cash of $82,925 and a working capital deficit of
$149,495. Substantially all of our liabilities consist of advances from related
parties. Since we have limited revenues, our cash will be depleted by operating
expenses and we will be dependent upon external sources of cash. Failure to
consummate a merger or acquisition or the loss of financial support from the
Company's majority shareholder will cause the Company to curtail its operations.
Management believes the Company has sufficient working capital, or has access to
sufficient working capital through its majority shareholder, to fund operations
for the next six months.

PLAN OF OPERATION

AUTOVENU, INC. During the next twelve months, we will not advertise or actively
seek additional customers to license our software. Previously, we relied on the
commercial success or failure of our only customer, PublicCarAuctions, Inc. We
believe that PublicCarAuction, Inc. has failed and we do not consider them to be
a future source of revenue. We are focusing our efforts to identify and pursue
other potential users of our software. If we are able to retain new customers by
word of mouth, we will charge a licensing fee for our software and web hosting
and installation fees for the additional entry portal. We do not expect to
purchase any significant equipment during the next twelve months, nor do we
expect to hire additional employees during that time period. We expect to
finance our objectives from related party loans.

ACQUISITION AND MERGER DIVISION. During the next twelve months, we will seek to
acquire assets or shares of an entity actively engaged in a business. We have
not identified a particular acquisition target and have not entered into any
negotiations regarding an acquisition. We intend to contact investment bankers,
corporate financial analysts, attorneys and other investment industry
professionals through various media. As of September 30, 2001, we have not
engaged in

                                       14

<PAGE>



any preliminary contacts or discussions with any representative of a prospective
business opportunity.

Depending upon the nature of the relevant business opportunity and the
applicable state statutes governing the manner in which the transaction is
structured, our board of directors expects that we will provide our shareholders
with complete disclosure documentation concerning a potential business
opportunity and the structure of the proposed acquisition prior to consummation.
The disclosure is expected to be in the form of a proxy, information statement
or report. While such disclosure may include audited financial statements of a
target entity, there is no assurance that audited financial statements will be
available. We intend to obtain certain assurances of value of the target
entity's assets prior to consummating a transaction, with further assurances
that audited financial statements will be provided within sixty days after
closing. Closing documents will include representations that the value of the
assets conveyed to or otherwise transferred will not materially differ from the
representations included in the closing documents, or the transaction will be
voidable.










                                       15

<PAGE>




                           PART II - OTHER INFORMATION

ITEM 1.   LEGAL PROCEEDINGS

          Not Applicable.

ITEM 2.   CHANGES IN SECURITIES

          On September 28, 2001, Mark Moldenhauer and Jules Lee Wurzel executed
          separate Conversion Certificates for the registrant's Series A
          Convertible Preferred Stock. The post-reverse split conversion ratio
          of the preferred stock was ten shares of common stock in exchange for
          every one share of preferred stock. In accordance to the Conversion
          Certificates, Mr. Moldenhauer converted 1,726,107 shares of preferred
          stock into 17,261,070 shares of common stock, and Mr. Wurzel converted
          19,179 shares of preferred stock into 191,790 shares of common stock.

          On October 2, 2001, Kevin O'Neill executed a Conversion Certificate
          for the registrant's Series A Convertible Preferred Stock and
          converted 63,930 shares of preferred stock into 639,300 shares of
          common stock.

          As of October 2, 2001, there are no outstanding shares of Series A
          Convertible Preferred Stock.

ITEM 3.   DEFAULTS UPON SENIOR SECURITIES

          Not Applicable.

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

          Not Applicable.

ITEM 5.   OTHER INFORMATION

          Not Applicable.










                                       16

<PAGE>



ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

          A)       EXHIBITS

<TABLE>
<CAPTION>
REGULATION                                                                                        CONSECUTIVE
S-B NUMBER                   EXHIBIT                                                              PAGE NUMBER

<S>                 <C>                                                                               <C>

2.1                 Share Exchange Agreement between BCS Investment                                   N/A
                    Corporation and the shareholders of Autovenu, Inc., dated
                    September 25, 2000 (3)<F3>

2.2                 Reorganization and Stock Purchase Agreement (4)<F4>                               N/A

3.1                 Articles of Amendment to Articles of Incorporation(4)<F4>                         N/A

3.2                 Bylaws (1)<F1>                                                                    N/A

4.1                 Warrant Agent Agreement (1)<F1>                                                   N/A

4.2                 Specimen Class A Warrant Certificate (1)<F1>                                      N/A

4.3                 Specimen Class B Warrant Certificate (1)<F1>                                      N/A

4.4                 Stock Option Plan (2)<F2>                                                         N/A

10.1                Promissory Note dated July 24, 2000, and amended January 24,                      N/A
                    2001(4)<F4>

10.2                Real Estate Lease dated May 1, 2000(4)                                            N/A

10.3                Agreement with PublicCarAuctions.com Inc. dated July 25,                          N/A
                    2000(4)<F4>
------------------------
<FN>
(1)<F1>  Incorporated by reference from the Registration Statement on Form 10-SB
         filed with the Securities and Exchange Commission on March 4, 1998.

(2)<F2>  Incorporated by referenced from the Annual Report on Form 10-KSB for
         the year ended December 31, 1999 filed on April 14, 2000.

(3)<F3>  Incorporated by referenced from the Current Report on Form-8-K filed on
         October 5, 2000.

(4)<F4>  Incorporated by reference from the Annual Report on Form 10-KSB for the
         year ended December 31, 2000 filed on April 2, 2001.
</FN>
</TABLE>


          B)       REPORTS ON FORM 8-K:  None.


                                       17

<PAGE>


                                   SIGNATURES

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

                                    CROSSNET COMMUNICATIONS, INC.
                                    (Registrant)



Date: November 14, 2001             By:    /s/ MARK MOLDENHAUER
                                       -----------------------------------------
                                            Mark Moldenhauer, President
                                            (Principal Financial Officer)


                                       18