<PAGE>

                       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 quarter Ended March 31, 2002

                                       or

                  [_] TRANSITION REPORT PURSUANT TO SECTION 13
                OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934


                         Commission File Number 0-28097


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


        STATE OF FLORIDA                                   59-3569844
        ----------------                                   ----------
 (State or other jurisdiction of                         (IRS Employer
 incorporation or organization)                       Identification No.)


            6925 112th Circle North, Suite 101, Largo, Florida 33773
            --------------------------------------------------------
             (Address of principal executive offices)    (Zip Code)


         Issuer's telephone number, including area code: (727) 546-6476


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

The number of shares outstanding of the Issuer's common stock at $.01 par value
as of May 29, 2001 was 2,821,679.

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                               Eonnet Media, Inc.
                           Consolidated Balance Sheet
                                 March 31, 2002

Assets

Current assets:
   Cash                                                             $    10,797
   Receivables:
      Trade                                                              51,512
      Other                                                               1,929
   Inventory                                                             39,923
                                                                    -----------
         Total current assets                                           104,161
                                                                    -----------

Property and equipment, net                                             188,475
                                                                    -----------

Other assets:
   Deposits                                                               2,373
   Deferred offering costs                                              255,803
                                                                    -----------
                                                                        258,176
                                                                    -----------
                                                                    $   550,812
                                                                    ===========

Liabilities and stockholders' (deficit)

Current liabilities:
   Accounts payable                                                 $   894,338
   Accrued expenses and other current liabilities                       193,215
   Customer deposits                                                    290,409
   Due to purchasers of common stock                                    135,000
   Line of credit                                                        49,640
   Convertible notes                                                    225,000
   Advances payable                                                     131,750
   Current portion of long-term debt                                     50,540
   Current portion of capital leases                                     54,313
   Notes payable - related parties                                       48,000
   Amounts due to related parties                                       223,885
                                                                    -----------
      Total current liabilities                                       2,296,090
                                                                    -----------

Long-term portion of capital leases                                       5,295
Long-term debt                                                           10,641
                                                                    -----------
                                                                         15,936
                                                                    -----------

Stockholders' (deficit):
   Preferred stock, $.01 par value,
      5,000,000 shares authorized,
      no shares issued or outstanding                                        --
   Common stock, $.01 par value,
      95,000,000 shares authorized,
      2,821,679 shares issued and outstanding                            28,217
   Additional paid in capital                                         2,162,563
   Stock subscription receivable                                        (27,250)
   Deferred compensation                                               (145,350)
   Accumulated (deficit)                                             (3,779,394)
                                                                    -----------
                                                                     (1,761,214)
                                                                    -----------
                                                                    $   550,812
                                                                    ===========

      See the accompanying notes to the consolidated financial statements.

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                               Eonnet Media, Inc.
                      Consolidated Statements of Operations
                          Three Months Ended March 31,

<TABLE>
<CAPTION>
                                                                      2002               2001
                                                               -----------------  ------------------
<S>                                                            <C>                <C>
Sales                                                           $       224,000     $         3,816

Cost of goods sold                                                      122,846                   -
                                                               -----------------  ------------------

Gross profit                                                            101,154               3,816

Operating expenses:
   Selling, general and administrative expenses                         211,300              70,398
                                                               -----------------  ------------------

(Loss) from operations                                                 (110,146)            (66,582)
                                                               -----------------  ------------------

Other income (expense):
   Interest income                                                          419               1,266
   Interest expense                                                     (16,323)             (8,863)
                                                               -----------------  ------------------
                                                                        (15,904)             (7,597)
                                                               -----------------  ------------------

Net (loss)                                                      $      (126,050)    $       (74,179)
                                                               =================  ==================

Per share information - basic and fully diluted:

  Weighted average shares outstanding                                 2,812,723           1,280,549
                                                               =================  ==================
  Net (loss) per share                                          $         (0.04)    $         (0.06)
                                                               =================  ==================
</TABLE>

      See the accompanying notes to the consolidated financial statements.

<PAGE>

                               Eonnet Media, Inc.
                      Consolidated Statements of Cash Flows
                          Three Months Ended March 31,

<TABLE>
<CAPTION>
                                                                   2002               2001
                                                             ----------------   ----------------
<S>                                                          <C>                <C>
Cash flows from operating activities:
Net cash (used in) operating activities                        $     (76,508)    $      (95,207)
                                                             ----------------   ----------------
Cash flows from investing activities:
Net cash (used in) investing activities                               (6,999)          (100,625)
                                                             ----------------   ----------------
Cash flows from financing activities:
Net cash provided by financing activities                             52,653                  -
                                                             ----------------   ----------------

Net (decrease) in cash                                               (30,854)          (195,832)

Beginning - cash balance                                              41,651            528,123
                                                             ----------------   ----------------

Ending - cash balance                                          $      10,797     $      332,291
                                                             ================   ================
</TABLE>

      See the accompanying notes to the consolidated financial statements.

<PAGE>

                               Eonnet Media, Inc.
                   Notes to Consolidated Financial Statements
                                 March 31, 2002
                                   (Unaudited)

(1)  Basis of Presentation

The accompanying unaudited consolidated financial statements have been prepared
in accordance with accounting principles generally accepted in the United States
of America ("GAAP") for interim financial information. They do not include all
of the information and footnotes required by GAAP for complete financial
statements. In the opinion of management, all adjustments (consisting only of
normal recurring adjustments) considered necessary for a fair presentation have
been included. The results of operations for the periods presented are not
necessarily indicative of the results to be expected for the full year. For
further information, refer to the financial statements of the Company as of
December 31, 2001 and the two years then ended including notes thereto included
in the Company's filing on Form 10-KSB.

(2)  Earnings Per Share

The Company calculates net income (loss) per share as required by SFAS No. 128,
"Earnings per Share." Basic earnings (loss) per share is calculated by dividing
net income (loss) by the weighted average number of common shares outstanding
for the period. Diluted earnings (loss) per share is calculated by dividing net
income (loss) by the weighted average number of common shares and dilutive
common stock equivalents outstanding. During the periods presented common stock
equivalents were not considered, as their effect would be anti dilutive.

(3)  Inventory

Inventory is stated at the lower of cost, determined by averaging the cost of
inventory on hand, or market. Inventory consists principally of purchased
finished goods.

(3)  Advances from Related Parties

During the period ended March 31, 2002 affiliates of the Company made working
capital advances to the Company aggregating $128,800 which were recorded as
amounts due to related parties.

(4)  Commitments and Contingencies

During September 2001 a vendor filed suit against the Company for a disputed
amount of $104,501 plus interest for alleged services provided to the Company in
1999 and 2000, During October 2001 the Company filed a response disputing the
claim by the vendor.

During the period ended March 31, 2002 the Company entered into a 3 year
consulting contract. The agreements call for monthly payments of $7,000
commencing on the date the Company completes it proposed public offering. In
addition, the Company entered into a 3 year consulting contract commencing
during February 2002. The agreement calls for the issuance of 26,000 shares of
common stock as compensation for the consultant's services. The shares were
valued at their fair market value of $149,500 and the value of the services not
yet provided has been recorded as deferred compensation.

<PAGE>

(5)  Basis of Reporting

The Company's financial statements are presented on a going concern basis, which
contemplates the realization of assets and satisfaction of liabilities in the
normal course of business.

The Company has experienced significant losses for the years ended December 31,
2001 and 2000 and the period ended March 31, 2002 aggregating $1,470,661,
$1,565,321 and $126,050, and has a working capital deficit of $2,191,929 and a
stockholders' deficit of $1,761,214 at March 31, 2002.

The Company's ability to continue as a going concern is contingent upon its
ability to attain profitable operations and secure financing. In addition, the
Company's ability to continue as a going concern must be considered in light of
the problems, expenses and complications frequently encountered by entrance into
established markets and the competitive environment in which the Company
operates.

The Company is pursuing equity financing for its operations. Failure to secure
such financing or to raise additional capital or borrow additional funds may
result in the Company depleting its available funds and not being able pay its
obligations.

The financial statements do not include any adjustments to reflect the possible
future effects on the recoverability and classification of assets or the amounts
and classification of liabilities that may result from the possible inability of
the Company to continue as a going concern.

<PAGE>

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

Overview

     The Company was in development stage and had only generated revenues of
$3,816 during the first quarter of 2001. In April of 2001, the Company merged
with Eonnet Technologies, Inc., a network and web solutions company located in
Pittsburgh, PA to add to its wide offering of tools and services to physicians.
Eonnet Technologies, Inc. was merged in a stock deal for one million post-split
shares of Eonnet Media in April of 2001. Upon the merger, the Company changed
its name to Eonnet Media, Inc.

     Sales consist primarily of revenues from network system implementation and
support services. Additional sales consist of fees from pharmaceutical study
review services provided to customers, commissions from web application
development, server co-location and advertisements on the Company's web site.

     Operating expenses include payroll, advertising and promotional costs,
payroll and related taxes, web site expense, legal and professional fees, other
operating expenses and depreciation expense. Other income (expense) consists of
interest income associated with cash maintained in a money market fund and
interest expense associated with borrowings to finance capital equipment
expenditures and other working capital needs.

Results of Operations

  THREE MONTHS ENDING MARCH 31, 2002 COMPARED TO THREE MONTHS ENDING MARCH 31,
                                      2001

     Sales. Sales for the three months ended March 31, 2002 increased to $
224,000 for the combined companies compared to $ 3,816 for the three months
ended March 31, 2001. The increase is attributed to the merger with Eonnet
Technologies, Inc. with revenues coming from sales of services and products. .

     Cost of Goods Sold. Cost of Goods Sold were $ 122,846 for the three months
ended March 31, 2002 compared to $0 for the three months ended March 31, 2001.
These costs include technical labor and expense of product purchases to fulfill
the sales.

     Other operating expenses (selling, general and administrative expenses).
Other operating expenses for the three months ended March 31, 2002 were $
211,300 compared to $ 70,398 for the three months ended March 31, 2001. The
increase is attributed to the expenses incurred mainly from salaries of
administrative and sales staff.

     Other expenses (net). Other operational expenses, consisting principally of
interest expense, increased to $ 15,904 for the three months ended March 31,
2002 compared to $ 7,597 for the three months ended March 31, 2001.

<PAGE>

         Income taxes. The Company has no income tax provision for the period
presented due to its net operating loss. The net operating loss may be carried
forward for up to 20 years. As such, the Company does not anticipate any
liability for income taxes for the year ended December 31, 2002.

         Management believes that there was no material effect on operations or
the financial condition of the Company as a result of inflation for the three
month period ending March 31, 2002

Liquidity and Capital Resources

         In the first quarter of 2002, the net loss increased to $ 126,050
compared to $74,179 from for the first quarter of 2001 due to the merger with
Eonnet Technologies. During the second quarter of 2002, management expects to
see a decrease in net loss due to drastic reduction in overhead expenses in
sales and administrative salaries.

         Net cash used in operating activities decreased to $76,508 during the
three months ending March 31, 2002 compared to $95,207 for the three months
ended March 31, 2001. The use of cash is primarily attributable to the net
operating loss as well as an increase in inventory and a decrease in accounts
payable, customer deposits and accrued expenses.

         Net cash used in investing activities was $ 6,999 during the three
months ending March 31, 2002, compared to $100, 625 for the three months ending
March 31, 2001. The decrease is from the reduced need for further web site
development and hosting equipment.

         Net cash provided by financing activities was $52, 653, consisting
principally of shareholder advances offset by an increase in deferred offering
costs, during the three months ending March 31, 2002, compared to $0 for the
three months ended March 31, 2001.

         On February 4, 2002, in connection with a consulting agreement with
Thomas Vickers Investments we issued 26,000 shares of common stock in exchange
for the consultant's agreement to perform services for us valued at $149,500.

         The Company's financial statements have been prepared assuming that it
will continue as a going concern. The Company's losses from operations since its
inception raise substantial doubt as to its ability to continue as a going
concern. In addition, the Company may need to raise additional capital to fund
operations.

         Management believes that cash expected to be generated from operations,
current cash reserves, and existing financial arrangements will not be
sufficient for the Company to meet its capital expenditures and working capital
needs for its operations as presently conducted. The Company's future liquidity
and cash requirements will depend on a wide range of factors, including expected
results from operations as revenues are generated. In particular, as the Company
does not expect cash flows from operations to be sufficient in the next twelve
months, the Company is considering raising capital either through a private
placement or an initial public offering. There can be no assurance that such
capital would be raised in sufficient amounts to meet the Company's financial
need in the next twelve months.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

<PAGE>

In connection with the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 (the "Reform Act"), the Company is hereby
providing cautionary statements identifying important factors that could cause
the Company's actual results to differ materially from those projected in
forward-looking statements (as such term is defined in the Reform Act) made by
or on behalf of the Company herein or orally, whether in presentations, in
response to questions or otherwise. Any statements that express, or involve
discussions as to expectations, beliefs, plans, objectives, assumptions or
future events or performance (often, but not always, through the use of words or
phrases such as "will result", "are expected to", "will continue", "is
anticipated", "estimated", "projection" and "outlook") are not historical facts
and may be forward-looking and, accordingly, such statements involve estimates,
assumptions, and uncertainties which could cause actual results to differ
materially from those expressed in the forward-looking statements. Such
uncertainties include, among other, the following: (i) the Company's ability to
obtain additional financing to implement its business strategy; (ii) imposition
of new regulatory requirements affecting the Company; (vii) a downturn in
general economic conditions; (iii) the delay or failure to properly manage
growth and successfully integrate acquired companies and operations; (iv) lack
of diversification; (v) effect of uninsured loss and (vi) other factors which
are described in further detail in the Company's filings with the Securities and
Exchange Commission.

The Company cautions that actual results or outcomes could differ materially
from those expressed in any forward-looking statements made by or on behalf of
the Company. Any forward-looking statement speaks only as of the date on which
such statement is made, and the Company undertakes no obligation to update any
forward-looking statement or statements to reflect events or circumstances after
the date on which such statement is made or to reflect the occurrence of
unanticipated events. New factors emerge from time to time, and it is not
possible for management to predict all of such factors. Further, management
cannot assess the impact of each such factor on the business or the extent to
which any factor, or combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements.

                           PART II - OTHER INFORMATION

Item 1. LEGAL PROCEEDINGS.

         On September 25th 2001, JH Technical Services Inc. filed for suit
against Eonnet Technologies Inc., our wholly owned subsidiary, for a disputed
amount of $104,501, plus interest at the rate of 1.5% per month. JH Technical
Services Inc. provided temporary technical support personnel to Eonnet
Technologies Inc. beginning in August 1999 through February 2000. On October
24th, 2001, Eonnet Technologies Inc. filed a reply disputing the amount of claim
and interest rate stated by JH Technical Services Inc.

         In October 2000, we hired PSINet, Inc. to provide managed web services
and equipment necessary to the operation of our websites. Pursuant to the
contract, PSI was to provide services and equipment for two years valued at
$2,400,000 in exchange for approximately 244,444 shares of our common stock. The
actual number of shares to be issued was to be determined quarterly based on
PSINet's standard billing rates divided by $9.74 per share. The contract
contains provisions that protect PSINet from dilution including rights of first
offer, co-sale rights, and the right to purchase preferred stock. In addition,
the share value used in the calculation of the number of shares to be issued is
subject to adjustment for the sale of shares at lower prices. In May 2001,
PSINet filed for bankruptcy. In August 2001, PSINet submitted to us invoices
totaling $1,001,518 for services rendered between September 2000 and September
2001. We believe PSINet has not provided the services required by the contract
and is disputing all amounts charged by PSINet, as well as its right

<PAGE>

to receive shares of our common stock, anti-dilution rights, right of first
offer and co-sale rights pursuant to the terms of the contract. Approximately
$65,000 has been accrued as management's estimate of the value of services
provided.

From June through August 1999, we sold 41,667 shares of common stock to
investors at $18.00 per share, for gross proceeds of $750,000. The shares were
sold to a limited number of investors in a private placement that was not
registered under the federal securities laws. For federal securities law
purposes, however, the private placement and the our proposed free share
offering were considered a single offering and the exemption from registration
that we relied on in making the private placement was not available. Therefore,
we offered each investor in the private placement the right to resell their
shares to us and receive a refund of the price paid by them of $18 per share.
The private placement investors' right to sell their shares to us began on
August 14, 1999 and expired on August 25, 2000. Two investors initially accepted
our offer to resell their 1,944 shares to us and received total refund of the
$35,000 purchase price. Subsequently, 11 additional investors with a total of
7,500 shares accepted our offer to resell their shares to us for a total amount
of $135,000. As we were not in a position to pay cash to these investors, we
issued them promissory notes payable in the aggregate amount of $135,000, which
bear interest at a rate of 8% per annum.

Item 2. CHANGES IN SECURITIES AND USE OF PROCEEDS.

        None.

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.

        On March 7, 2000, the Company's registration statement on Form SB-2
Post-Effective Amendment No. 2 was declared effective by the Securities and
Exchange Commission (the "SEC"). However, because the Company is located in
Florida, the Florida blue sky laws require the Company to register as an
issuer/dealer with the Florida Division of Securities before it offers
securities to residents of Florida or any other state. Upon approval from the
Florida Division of Securities, the Company will be allowed to issue the
25,000,000 shares of common stock registered pursuant to the Form SB-2 in the
states of Florida, California, Louisiana, and Georgia. The Company intends to
apply for approval under the blue sky laws of the states not listed above.

        Pursuant to the Company's marketing plan, these registered shares will
be issued at no cost to doctors who become secured members on the Company's web
site. The fair market value of these shares will be charged to operations as
promotion costs at the time of their issuance. Doctors may become members and
participate fully in the web site even if they do not wish to receive shares in
the free stock offering.

Item 6. EXHIBITS AND REPORTS ON FORM 8-K.


Reports on Form 8-K.

<PAGE>

         During the three months ended March 31, 2002, the Company filed the
following report on Form 8-K.

Form 8-K dated March 13, 2002, with respect to a change in the Company's
certifying accountants to Stark, Winter, Schenkein LLP, for the year ended
December 31, 2001.

                                   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.

                                       EONNET MEDIA, INC.


Date:  May 21, 2002                    By: /s/ Vikrant Sharma
                                           ------------------------------
                                           Mr. Vikrant Sharma
                                           CEO and Director