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
                             EXCHANGE ACT OF 1934
                 For the quarterly period ended: March 31, 2001

[ ]             TRANSITION REPORT UNDER SECTION 13 OF 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:

             10,000,021 SHARES OF COMMON STOCK, NO PAR VALUE, AS OF
                                  MAY 15, 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 Statement of Loss......................................5

           Consolidated Statement of Cash Flows................................6

           Notes to Consolidated Financial Statements..........................7

   Item 2. Management's Discussion and Analysis or Plan of Operation...........8


PART II - OTHER INFORMATION

   Item 1. Legal Proceedings..................................................12

   Item 2. Changes in Securities..............................................12

   Item 3. Defaults Upon Senior Securities....................................12

   Item 4. Submission of Matters to a Vote of Security Holders................12

   Item 5. Other Information..................................................12

   Item 6. Exhibits and Reports on Form 8-K...................................12


SIGNATURES....................................................................14

                                        2

<PAGE>














                        Consolidated Financial Statements of

                        CROSSNET COMMUNICATIONS INC.

                        (A Development Stage Enterprise)

                        Three month period ended March 31, 2001









                                       3
<PAGE>


CROSSNET COMMUNICATIONS INC.
(A Development Stage Enterprise)
Consolidated Balance Sheet

$ United States

March 31, 2001 and December 31, 2000

================================================================================
<TABLE>
<CAPTION>
                                                                                March 31,         December 31,
                                                                                     2001                 2000
                                                                               (Unaudited
                                                                            - prepared by
                                                                              management)
-------------------------------------------------------------------------------------------------------------------
<S>                                                                         <C>                  <C>
ASSETS

Current assets
     Cash                                                                   $     115,453        $     151,996
     Accounts receivable                                                              500                  500
-------------------------------------------------------------------------------------------------------------------
                                                                                  115,953              152,496

Fixed assets                                                                        2,202                2,490

Website development                                                                 5,864                6,486

-------------------------------------------------------------------------------------------------------------------
                                                                            $     124,019        $     161,472
===================================================================================================================

LIABILITIES AND STOCKHOLDERS' DEFICIENCY

Current liabilities
     Accounts payable and accrued liabilities                               $      23,424        $      19,364
     Note payable to stockholder (note 3)                                         195,000              195,000
     Due to related party                                                             -                 11,359
-------------------------------------------------------------------------------------------------------------------
                                                                                  218,424              225,723

Stockholders' deficiency
     Capital stock:
           100,000,000  voting common shares without par value
                        authorized, 10,000,021 issued                               8,151                8,151
            10,000,000  non-voting preferred shares without par
                        value, issuable in series authorized,
                        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                            (102,557)             (72,403)
-------------------------------------------------------------------------------------------------------------------
                                                                                  (94,405)             (64,251)

-------------------------------------------------------------------------------------------------------------------
                                                                                  124,019        $     161,472
===================================================================================================================
</TABLE>


See accompanying notes to consolidated financial statements.

                                       4
<PAGE>


CROSSNET COMMUNICATIONS INC.
(A Development Stage Enterprise)
Consolidated Statement of Loss

$ United States

(Unaudited - prepared by management)

================================================================================
<TABLE>
<CAPTION>
                                                       From Inception         Three month       From inception
                                                     (March 21, 2000)        period ended     (March 21, 2000)
                                                         to March 31,           March 31,         to March 31,
                                                                 2001                2001                 2000
-------------------------------------------------------------------------------------------------------------------
<S>                                                    <C>                  <C>                  <C>
Revenue
     Website maintenance fees                          $        7,275       $         -          $         -
     Interest income                                            3,767               1,462                  -
     --------------------------------------------------------------------------------------------------------------
                                                               11,042               1,462                  -

Expenses
     Amortization of fixed assets                               1,245                 288                  -
     Amortization of website development                        1,661                 622                  -
     Consulting fees                                            5,000                  -                   -
     Interest                                                  16,055               5,850                  -
     Internet hosting                                             591                 160                  -
     Office and administrative                                  1,606                 422                  -
     Professional fees                                         31,992              11,771                  -
     Rent                                                       4,000               1,500                  -
     Salaries and benefits                                     21,536               8,651                  -
     Software project costs                                     1,500               1,500                  -
     Transfer agent fees                                        2,760                 852                  -
     --------------------------------------------------------------------------------------------------------------
                                                               87,946              31,616                  -

-------------------------------------------------------------------------------------------------------------------
Loss                                                   $      (76,904)      $     (30,154)       $         -
===================================================================================================================

Weighted average number of common shares
  outstanding                                               6,642,981          10,000,021              485,959

Loss per share, basic and diluted                      $       (0.01)       $      (0.00)        $       (0.00)
===================================================================================================================
</TABLE>






See accompanying notes to consolidated financial statements.


                                       5

<PAGE>


CROSSNET COMMUNICATIONS INC.
(A Development Stage Enterprise)
Consolidated Statement of Cash Flows

$ United States

(Unaudited - prepared by management)

================================================================================
<TABLE>
<CAPTION>
                                                       From Inception         Three month       From inception
                                                     (March 21, 2000)        period ended     (March 21, 2000)
                                                         to March 31,           March 31,         to March 31,
                                                                 2001                2001                 2000
-------------------------------------------------------------------------------------------------------------------
<S>                                                    <C>                  <C>                  <C>
Cash provided by (used in):

Operations
     Loss                                              $      (76,904)      $     (30,154)       $         -
     Item not involving cash:
         Amortization                                           2,906                 910                  -
     Changes in non-cash working capital:
         Accounts receivable                                     (500)                -                    -
         Accounts payable and accrued liabilities               9,132               4,060                  -
         Due to related party                                 (11,359)            (11,359)                 -
     --------------------------------------------------------------------------------------------------------------
                                                              (76,725)            (36,543)                 -

Financing
     Note payable to stockholder                              195,000                 -                    -
     Issue of common shares for cash                            8,100                 -                    100
     --------------------------------------------------------------------------------------------------------------
                                                              203,100                 -                    100

Investments
     Purchase of fixed assets                                  (3,447)                -                    -
     Website development costs                                 (7,475)                -                    -
     --------------------------------------------------------------------------------------------------------------
                                                              (10,922)                -                    -

-------------------------------------------------------------------------------------------------------------------
Increase (decrease) in cash                                   115,453             (36,543)                 100

Cash, beginning of period                                         -               151,996                  -

-------------------------------------------------------------------------------------------------------------------
Cash, end of period                                    $      115,453       $     115,453        $         100
===================================================================================================================

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      $         -          $         -
  Preferred shares issued upon share exchange          $             1      $         -          $         -
  Liabilities assumed on business combination          $       (25,651)     $         -          $         -
===================================================================================================================
</TABLE>

See accompanying notes to consolidated financial statements.


                                       6
<PAGE>


CROSSNET COMMUNICATIONS INC.
(A Development Stage Enterprise)
Notes to Consolidated Financial Statements
$ United States

Period ended March 31, 2001
(Unaudited - prepared by management)

================================================================================

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 Autovenu  ("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 operatins  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  principle business activities include
     the development and marketing of software applications targeted at specific
     business-to-business  e-commerce industries.  To March 31, 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.
     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.  As shown  in  the  consolidated  financial
     statements, the  Company has incurred a loss for the period since inception
     of $76,904, and  at March 31, 2001  has a  net stockholders'  deficiency of
     $94,405 and a working capital deficiency  of $102,471. 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.

3.   NOTE PAYABLE TO STOCKHOLDER:

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



                                       7

<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  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
audited 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 March 31, 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
March  31,  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.




                                        8

<PAGE>



    BALANCE SHEET DATA:              MARCH 31, 2001         DECEMBER 31, 2000

    Current Assets                      $115,953                $152,496
    Total Assets                        $124,019                $161,472
    Current Liabilities                 $218,424                $225,723
    Stockholders' Deficiency           $ (94,405)               $(64,251)
    Working Capital Deficiency         $(102,471)               $(73,227)

    STATEMENT OF LOSS DATA:            MARCH 21, 2000         THREE MONTHS
                                       (INCEPTION) TO             ENDED
                                       MARCH 31, 2001         MARCH 31, 2001

    Revenues                              $ 11,042              $   1,462
    Net Loss                              $(76,904)             $ (30,154)
    Net Loss per Share                    $  (0.01)             $   (0.00)

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.  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 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

                                        9

<PAGE>



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 $76,904 from inception  (March 21, 2000) through March 31, 2001, and
a net  stockholders'  deficiency  of $94,405 at March 31, 2001. We had a working
capital   deficiency  of  $102,471  at  March  31,  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 $76,904 for the period from inception (March 21, 2000)
through March 31, 2001.  Our website  maintenance  revenues were $7,275,  and we
generated  interest  income of  $3,767.  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 three  months ended
March 31, 2001, we did not receive any revenues from PublicCarAuctions,  Inc. At
this time, our relationship with PublicCarAuctions, Inc. is uncertain and we are
unable to predict the certainty of present or future  revenues.  There can 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 $87,946 for the period from inception to March 31, 2001,
which included consulting fees ($5,000);  interest ($16,055);  professional fees
($31,992); and salaries and benefits ($21,536).  Website development costs which
were incurred in the planning stages were expensed

                                       10

<PAGE>



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
three years.

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 $76,725,  which
was offset by net cash provided by financing  activities  of $203,100.  At March
31,  2001,  we had cash of $115,453 and a working  capital  deficit of $102,471.
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.

PLAN OF OPERATION

AUTOVENU,  INC. During the next twelve months, we will not advertise or actively
seek additional customers to license our software.  Instead, we will rely on the
commercial  success or failure of our only customer,  www.publiccarauctions.com.
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 the licensing
agreement with PublicCarAuctions, Inc. and 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 March 31, 2001, we have not engaged
in  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.


                                       11

<PAGE>




                           PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

         Not Applicable.

ITEM 2.  CHANGES IN SECURITIES

         Not Applicable.

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.

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 (2)<F2>

2.2            Reorganization and Stock Purchase Agreement (3)<F3>                             N/A

3.1            Articles of Amendment to Articles of Incorporation(3)<F3>                       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                                                               N/A

                                       12

<PAGE>



10.1           Promissory Note dated July 24, 2000, and amended January 24,
               2001(3) <F3>                                                                    N/A

10.2           Real Estate Lease dated May 1, 2000(3) <F3>                                     N/A

10.3           Agreement with PublicCarAuctions.com Inc. dated July 25,
               2000(3) <F3>                                                                    N/A

---------------------
<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 Current Report on Form-8-K filed on October 5, 2000.

(3)<F3>     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.

                                       13

<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: May 15, 2001                       By:       /S/ MARK MOLDENHAUER
                                            ------------------------------------
                                              Mark Moldenhauer, President
                                              (Principal Financial Officer)


                                       14