SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

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

                For the quarterly period ended September 30, 2000

                                       OR

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

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

                           Commission File No. 0-30430

                              INTERMOST CORPORATION
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

              Utah                                         87-0418721
--------------------------------               ---------------------------------
(State or other jurisdiction of                (IRS Employer Identification No.)
 incorporation or organization)

                  43rd Floor, Shenfang Plaza, Renmin South Road
                             Shenzhen, China 518005
               ----------------------------------------------------
               (Address of principal executive offices) (Zip Code)

                                 86 755 217 5656
                           ---------------------------
                           (Issuer's telephone number)

     38th Floor, Guomao Building, Renmin South Road, Shenzhen, China 518005
    -------------------------------------------------------------------------
              (Former name, former address and former fiscal year,
                          if changed since last report)

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

     As of November  1, 2000,  11,840,968  shares of Common  Stock of the issuer
were outstanding.
<PAGE>


                              INTERMOST CORPORATION

                                      INDEX


                                                                        Page
                                                                        Number
                                                                       --------

PART I - FINANCIAL INFORMATION

         Item 1.  Financial Statements

         Consolidated Condensed Balance Sheets -- September
         30, 2000 and June 30, 2000...................................    3

         Consolidated Condensed Statements of Operations --
         For the three months ended September 30, 2000 and 1999.......    4

         Consolidated Condensed Statements of Cash Flows --
         For the three months ended September 3, 2000 and 1999........    5

         Notes to Consolidated Condensed Financial Statements.........    6

         Item 2. Management's Discussion and Analysis of Financial
                 Condition and Results of Operations..................    7

PART II - OTHER INFORMATION

         Item 6.  Exhibits and Reports on Form 8-K....................   11

SIGNATURES............................................................   12

<PAGE>


                         PART I - FINANCIAL INFORMATION
Item 1.  Financial Statements

                     INTERMOST CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED CONDENSED BALANCE SHEETS

                                     ASSETS
<TABLE>


                                                            June 30, 2000           September 30, 2000
                                                                RMB               RMB                US$
                                                            -------------      ---------------------------
<S>                                                          <C>              <C>                <C>

Current assets:
     Cash and cash equivalents                               13,556,982        9,665,023         1,167,273
     Accounts receivable, net                                 1,438,235          710,825            85,848
     Deposits, prepayments and other receivables              5,438,095        5,973,670           721,458
     Inventories                                                 57,058           18,521             2,237
     Due from a director                                        284,265                -                 -
     Due from related companies                                  72,345           70,325             8,493
                                                           -------------    -------------      -------------
         Total current assets                                20,846,980       16,438,364         1,985,309
                                                           -------------    -------------      -------------
Investment in an associated company                           4,638,796        3,533,273           429,954
Fixed Assets                                                 13,291,366       13,908,100         1,679,722
Intangible assets                                             1,199,996          899,995           108,695
Deferred compensation costs, net                              1,744,878        1,300,150           157,023
                                                           -------------    -------------      -------------
         Total assets                                        41,722,016       36,079,882         4,360,703
                                                           =============    =============      =============
                      LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
     Accruals and other payables                              2,442,236          961,967           116,179
     Deposits from customers                                    856,549        1,221,058           147,471
     Business tax payable                                        51,508           74,896             9,045
     Due to directors                                           208,197           72,713             8,782
                                                            -------------    -------------      -------------
         Total current liabilities                            3,558,490        2,330,634           281,477
                                                            -------------    -------------      -------------
Minority interest                                             3,428,693        2,603,980           314,490

Shareholders' equity:
     Common stock, par value US$ 0.001
        authorized 100,000,000 shares
     Common stock subscribed                                     90,840           97,464            11,771
     Shares to be issued                                          6,624                -                 -
     Less: subscription receivable                            (952,200)                -                 -
     Additional paid-in capital                              52,233,737       52,233,737         6,308,422
     Accumulated deficit                                   (16,613,282)     (21,155,046)       (2,554,958)
     Cumulative translation adjustments                        (30,886)         (30,887)             (499)
                                                           -------------    -------------      -------------
         Total shareholders' equity                          34,734,833       31,145,268         3,764,736
                                                           -------------    -------------      -------------
         Total liabilities and shareholders'
           equity                                            41,722,016       36,079,882         4,360,703
                                                           =============    =============      =============

</TABLE>

    The accompanying notes are an integral part of these financial statements


                                       3
<PAGE>

                     INTERMOST CORPORATION AND SUBSIDIARIES

                 CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

<TABLE>

                                                      Three Months Ended September 30,
                                                 ------------------------------------------
                                                  1999                      2000
                                                 ------          --------------------------
                                                  RMB             RMB                 US$
                                                 ------          -----              -------
<S>                                           <C>             <C>                  <C>

Net sales                                     2,712,010        2,432,360           293,763
Cost of services                              1,753,873        2,565,035           309,787
                                            -------------    -------------       -----------
Gross Profit                                    958,137         (132,675)          (16,024)

Selling, general and administrative
   expenses                                  (1,229,109)      (3,773,416)         (455,727)
Other income, net                                27,536           46,433             5,608
                                            -------------    -------------       -----------
Loss before income taxes
   and minority interest                       (243,436)      (3,859,658)         (466,143)

Share of loss of an associated company                -      (1,506,819)         (181,983)
                                            -------------    -------------       -----------
Loss before minority interest                  (243,436)      (5,366,477)         (648,126)

Minority interest                                     -          824,713            99,603
                                            -------------    -------------       -----------
Net loss                                       (243,436)      (4,541,764)         (548,523)
                                            =============    =============       ===========
Net loss
  per common share - Basic                        (0.09)           (0.38)            (0.05)
                                            =============    =============       ===========
Weighted average number of
   shares outstanding                         4,970,000       11,840,968        11,840,968
                                            =============    =============      ============

</TABLE>



    The accompanying notes are an integral part of these financial statements

                                       4
<PAGE>


                     INTERMOST CORPORATION AND SUBSIDIARIES
                 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
<TABLE>

                                                          Three Months Ended September 30,
                                                    --------------------------------------------
                                                     1999                       2000
                                                    -------            -------------------------
                                                     RMB                RMB                US$
                                                    -------            -----             -------
<S>                                                <C>              <C>               <C>

Cash flows from operating activities:

Net loss                                            (243,436)      (4,541,764)         (548,522)
Adjustments to reconcile net loss to net cash
used in operating activities:
     Amortization                                          -          300,001            36,232
     Depreciation                                     15,970          967,517           116,850
     Cumulative translation adjustment               (30,094)               -                 -
     Investment loss                                       -        1,506,819           181,983
     Minority interest                                     -         (824,713)          (99,603)
     Compensation expense                                  -          444,727            53,711
(Increase) decrease in operating assets -
     Inventory                                                         38,537             4,654
     Accounts receivable, net                       (308,111)         727,410            87,851
     Deposits, prepayments and
     other receivables                            (4,248,129)        (215,154)          (25,984)
     Due from related companies                     (235,960)           2,020               244
     Due from directors                                              (284,265)          (34,332)
Increase (decrease) in operating liabilities -
     Accruals, Accounts payable and
     Other payables                                3,830,445       (1,480,269)         (178,776)
     Deposits from customers                         143,665          364,509            44,023
     Business tax payable                             43,895           23,388             2,825
     Due to directors                                      -         (135,484)          (16,363)
                                                 -------------    -------------      ------------
     Net cash used in operating activities        (1,031,755)      (3,106,721)         (375,207)
                                                 -------------    -------------      ------------
Cash flows from investing activities:

Purchase of plant and equipment                      (70,090)        (785,238)          (94,836)
                                                 -------------    -------------      ------------
     Net cash used in investing activities           (70,090)        (785,238)          (94,836)
                                                 -------------    -------------      ------------
Net decrease in cash and cash equivalents         (1,101,845)      (3,891,959)         (470,043)

Cash and cash equivalents, beginning of period     4,376,379       13,556,982         1,637,317
                                                 -------------    -------------      ------------
Cash and cash equivalents, end of period           3,274,534        9,665,023         1,167,273
                                                 =============    =============      ============

</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                       5
<PAGE>

                     INTERMOST CORPORATION AND SUBSIDIARIES

              NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

1.   INTERIM FINANCIAL PRESENTATION

     The interim consolidated  financial statements are prepared pursuant to the
     requirements for reporting on Form 10-QSB.  These financial statements have
     not been  audited by  independent  accountants.  The June 30, 2000  balance
     sheet data was  derived  from  audited  financial  statements  but does not
     include  all  disclosures   required  by  generally   accepted   accounting
     principles.  The interim  financial  statements and notes thereto should be
     read in conjunction with the financial statements and notes included in the
     Company's  Form  10-KSB.  In  the  opinion  of  management,  these  interim
     financial  statements  reflect all adjustments of a normal recurring nature
     necessary  for a fair  statement  of the results  for the  interim  periods
     presented.  The current period  results of operations  are not  necessarily
     indicative of results which  ultimately  will be reported for the full year
     ending June 30, 2001.

2.   CURRENCY PRESENTATION AND FOREIGN CURRENCY TRANSLATION

     Translation  of amounts from Renminbi  ("Rmb") into United  States  dollars
     ("US$") is for the  convenience  of  readers  and has been made at the noon
     buying rate in New York City for cable  transfers in foreign  currencies as
     certified for customs  purposes by the Federal  Reserve Bank of New York on
     September 30, 2000 of US$1.00 = Rmb8.28. No representation is made that the
     Renminbi amounts could have been, or could be, converted into United States
     dollars at that rate or at any other rate.

3.   AGREEMENT - SHENZHEN HUIFENG WEB SECURITY CO. LTD.

     In May 2000, the Company signed a Letter of Intent to purchase  Huifeng Web
     Security,   an  Internet   security  and  technology   products   developer
     headquartered  in Shenzhen.  In October 2000,  the Company  entered into an
     agreement,  superceding the Letter of Intent, pursuant to which the Company
     agreed to acquire shares  representing 58.3% of J-R Technologies Ltd..a 90%
     shareholder  of Huifeng.  The  purchase  price for the shares of Huifeng is
     payable  $176,470  in  cash  plus  510,300  shares  of  common  stock.  J-R
     Technologies  is required to use the cash portion of the purchase  price to
     fund operations of Huifeng. Huifeng specializes in the development and sale
     of Internet and financial  system security  solutions.  Huifeng focuses its
     sales on financial,  banking,  telecom,  and government markets in southern
     China.  Huifeng has been in operation since August 1999. As of November 13,
     2000, due diligence was ongoing.

4.    CHANGE OF PRINCIPAL BUSINESS ADDRESS

     Our principal office has been recently moved to the  newly-rented  Shenfang
     Plaza,  3005 Renmin South Road,  Shenzhen,  China 518005,  covering  30,000
     square feet of office  space.  Our previous  office at 38th floor of Guomao
     Building was acquired  from an unrelated  third party for 77,200  shares of
     the  company's  common  stock in  November  1999.  The office  space had an
     appraised value of $463,000 at the time of the transfer.  The Guomao Office
     is now rented out to an unrelated third party at market value of $2,000 per
     month.

                                       6
<PAGE>

Item 2. Management's  Discussion and Analysis of Financial Condition and Results
        of Operations.

     The following  discussion and analysis  should be read in conjunction  with
the Company's financial  statements and notes thereto included elsewhere in this
Form  10-QSB.  Except  for the  historical  information  contained  herein,  the
discussion in this Form 10-QSB contains certain forward looking  statements that
involve risks and  uncertainties,  such as  statements  of the Company's  plans,
objectives,  expectations and intentions. The cautionary statements made in this
Form 10-QSB should be read as being applicable to all related forward statements
wherever  they appear in this Form 10-QSB.  The Company's  actual  results could
differ materially from those discussed here. For a discussion of certain factors
that  could  cause  actual  results  to be  materially  different,  refer to the
Company's Form 10-KSB.

Material  Changes in Results of Operations for the Three Months Ended  September
30, 2000 as Compared to the Three Months Ended September 30, 1999.

     Net Sales. Net sales are derived principally from e-commerce  solutions and
web advertisement,  referred to as "business portals and e-commerce  solutions",
and from software design and general Internet solutions and business  consulting
services,  referred  to  as  "software  development  and  consulting  commission
income".

     The  following  table  reflects the total net sales and  percentage  of net
sales  represented by business portals and e-commerce  solutions and by software
development and consulting services for the periods indicated:
<TABLE>

                                               Total Net Sales               Percent of Total Net Sales
                                      --------------------------------    --------------------------------
                                      Three Months Ended September 30,    Three Months Ended September 30,
                                        1999              2000             1999               2000
                                         US$               US$            -------           ---------
                                      --------          ---------
<S>                                   <C>               <C>               <C>                <C>

Business portals and
e-commerce solutions
- e-commerce solutions                254,604           279,731            77.7%             95.2%
- Web advertisement                    35,073            14,032            10.7%              4.8%
                                    ----------        ----------        ---------          ---------
                                      289,677           293,763            88.4%            100.0%

Software development and consulting
- Software development                 37,900                 0            11.6%              0.0%
                                    ----------        ----------        ---------          ---------
                                       37,900                 0            11.6%              0.0%

     Total                            327,577           293,763           100.0%            100.0%
                                    ==========        ==========        =========          =========
</TABLE>


     Total net sales  decreased  10.3% to  $294,000  during  the  quarter  ended
September  30,  2000  compared  to  $328,000  during  the same  quarter in 1999.
e-commerce  solutions revenues increased 9.9% to $280,000 in the 2000 quarter as
compared  to  $255,000  during  the 1999  quarter.  Web  advertisement  revenues
decreased 60% to $14,000 for the 2000 quarter as compared to $35,000  during the
1999  quarter.  The  Company  had no software  development  revenues  during the
September 30, 2000 quarter compared to $38,000 of software  development revenues
during the quarter ended September 30, 1999.

     The  decline  in total  net  sales,  the  flat  performance  in  e-commerce
solutions  and the  decline in  software  development  revenues  were  primarily
attributable  to the  transition of the  Company's  business  associated  with a
refinement  of the  Company's  business  plan in June  2000.  Under the  refined
business  plan, the Company will focus on providing  Internet  based  e-commerce
solutions  to  Chinese  companies  in  two to  five  industries.  The  Company's
technical  resources  have been shifted to focus on the in-house  development of
Supply-Chain-Management   ("SCM")   and   Customer-Relation-Management   ("CRM")
solutions.  The Company's SCM software is presently scheduled for release in the
first  quarter of 2001with  portions of the CRM  software  also  scheduled to be
complete in the first quarter of 2001.


                                       7
<PAGE>

     With the narrowing of the Company's focus, revenues historically  generated
by  traditional  web  hosting  and web  design  operations,  both of which  were
experiencing  declining  margins,  began to decline  during the  September  2000
quarter and are  expected to continue to decline as those  offerings  are phased
out.  Until our SCM and CRM  products  are  completed,  revenues are expected to
continue to be flat or declining  although we are engaged in efforts to act as a
re-seller  of software of other  vendors  which may offset  declines in revenues
pending the introduction of our software products.

     Upon introduction of our SCM and CRM software,  the Company expects revenue
growth to resume as we integrate our software into e-commerce  solution systems.
Further, the Company plans to develop its ChinaE.com web site into an e-commerce
platform  that  will  be  shared  by  medium  and  small  businesses  in  China.
Advertisement  revenue  for the  web  site  are  not  expected  to  reflect  any
meaningful  increase until the Company finishes such transition in later part of
2001.

     Cost of  Services.  Cost of  services  consist  principally  of salary  for
computer   network   technicians,   costs  of  systems  sales  and  integration,
subcontract fees, depreciation and amortization, and other costs associated with
the same,  including travel,  welfare,  office and related expenses allocable to
the  engineering  and  technician  staff.  Additionally,  other cost of services
includes certain other costs associated with the offering of special promotional
packages,  which  package  included  participation  in a  seminar,  lodging  and
advertisement.

     The following  table reflects the principal  components of cost of services
and  percentage  of net sales  represented  by each  component  for the  periods
indicated:
<TABLE>


                                                  Total Cost of Services           Percent of Total Net Sales
                                             --------------------------------   -------------------------------
                                             Three Months Ended September 30,   Three Months Ended September 30,
                                             --------------------------------   -------------------------------
                                                1999              2000             1999             2000
                                                 US$               US$          -----------       ----------
                                             -----------        ----------
<S>                                          <C>                <C>             <C>               <C>

Engineering/technician salaries                29,761            92,784             9.0%            31.6%
Subcontract fees                               26,500                 0             8.1%             0.0%
Cost of system sales and integration          131,400           134,841            40.1%            45.9%
Depreciation                                    1,929             2,199             0.6%             0.8%
Other                                          22,256            79,963             6.8%            27.2%
                                            ----------         ---------         -------          --------
     Total                                    211,846           309,787            64.7%           105.4%
                                            ==========         =========         =======          ========
</TABLE>


     Compared to the same period of 1999, the costs of services increased 46.2%,
to US$310,000, or 105.4% of net sales.

     The principal  components of cost of services during the three months ended
September,  2000 were  engineer/technician  salaries;  subcontract fees; cost of
hardware;  other costs  associated  with  support on the  engineering/technician
staff; and depreciation of equipment utilized in connection with services.

     The  increase  in  costs  of  services  was  principally   attributable  to
expenditures  to  support  the shift in the  Company's  strategy,  including  an
increase in engineering/technician headcount from 20 at September 30, 1999 to 60
at  September  30, 2000.  The  increase in costs of services as a percentage  of
revenues was primarily attributable to the increase in product development costs
while revenues declined.

     Selling,   General  and  Administrative  Expense.   Selling,   general  and
administrative  expense ("SG&A") consists  principally of (1) sales commissions,
advertising,  trade show and seminar expenses,  and direct-field  sales expense,
(2) salary for  administrative  and sales staff, (3) corporate  overhead and (4)
amortization of intangibles.

     The  following  table  reflects  the  principal   components  of  SG&A  and
percentage of net sales represented by each component for the periods indicated:
<TABLE>

                                               Total SG&A                    Percent of Total Net Sales
                                   ---------------------------------       --------------------------------
                                   Three Months Ended September 30,        Three Months Ended September 30,
                                   ---------------------------------       --------------------------------
                                         1999             2000              1999               2000
                                          US$              US$             ------             -------
                                       ---------        ----------
<S>                                   <C>                <C>               <C>               <C>

Sales and marketing salaries and
commissions                             25,132            64,148             7.7%             21.9%
Other sales and marketing expenses      38,557            44,458            11.8%             15.1%
Rentals                                      0            13,051             0.0%              4.4%
Administrative salaries                 19,394           105,560             6.0%             36.0%
Other corporate                         65,378           192,278            20.0%             65.4%
Amortization of intangibles                  0            36,232             0.0%             12.3%
                                     ----------        -----------        --------         ---------
     Total                             148,461           455,727            45.3%            142.8%
                                     ==========        ===========        ========         =========

</TABLE>

     For the three months ended  September  30, 2000,  SG&A  increased  207%, to
US$455,727,  or 142.8% of net sales,  compared  to  US$148,461,  or 45.3% of net
sales, for the three months ended September 30, 1999.

     The increase in SG&A has been principally  attributable to a combination of
(1) aggressive  marketing efforts associated with the commencement and growth of
revenue producing operations, including costs associated with sales commissions,
attendance at international trade conferences,  industry journal advertising and
other  related  expenses,  (2) an increase in  administrative  support staff and
corporate overhead to support  anticipated growth in revenues,  (3) amortization
of intangible  assets and compensation  charges  associated with the issuance of
shares and options to employees, and (4) costs associated with relocation to new
offices.

     The principal  components  of SG&A during the three months ended  September
30, 2000 were sales and  marketing  salaries and  commissions;  other  marketing
expenditures;  administrative  salaries and benefits;  other corporate  expense,
which includes occupancy expense,  general office expenses travel, general staff
welfare  expense  and  consulting  fees,  among  others;   and  amortization  of
intangibles.

     Amortization   expense   related  to  the   acquisition  of  eighty  system
integration  contracts from Labtam Corporation in July 1999 for 69,700 shares of
common stock of the Company.

     The  intangible   assets  are  being  amortized  over  a  24-month  period,
representing  the life of the  contracts  and the  expected  useful  life of the
technological know-how. During the nine months ended March 31, 2000, we recorded
a charge for amortization of the intangible assets of US$164,314.  We will incur
amortization  expense  quarterly  of  approximately  US$36,000  for  the  system
integration  contracts through June 30, 2001 and US$83,000 for the technological
know-how through March 31, 2002.

     Minority  Interest.  Minority interest of US$99,603 was reported during the
current period.  Minority interest  reflects the  proportionate  interest in the
earnings/(loss) of Jiayin Joint Venture not attributable to the Company.

Material Changes in Financial Condition, Liquidity and Capital Resources.

     At September 30, 2000 we had cash and cash  equivalents of US$1,167,273 and
working  capital of  US$1,860,855  as compared to  US$1,637,317 of cash and cash
equivalents and US$2,087,982 of working capital at June 30, 2000.

     Operations  used US$470,044 of cash during the three months ended September
30,  2000.  Funds used in  operations  primarily  relate to the losses  incurred
during the period,  increases in trade and other  receivables  and  increases in
accrual, accounts payable and amortization of intangible assets.

     Investing activities used US$94,836 during the three months ended September
30, 2000. Funds used in investing  activities  consist of purchases of equipment
to support.

                                       8
<PAGE>


     The Company had no long term debt at September 30, 2000.

     The Company  signed an agreement in June 2000, to acquire a 70% interest in
Dunwell Computer (H.K.) Limited, a developer and provider of Internet technology
and e-commerce  solutions.  Pursuant to the terms of the agreement,  the Company
will pay approximately  $362,000,  50% in cash and 50% in equity of Intermost at
US$3.50 per share.  At September  30, 2000,  the Company had  deposited the cash
portion of the purchase price and had advanced additional funds to Dunwell.  The
Company has hired an  independent  auditing  firm to conduct  the due  diligence
work.

     In June 2000, the Company formed Shenzhen Sino-E E-commerce Company Limited
("Sino-E"),  a  joint-venture  company  with Midea  Group to develop an exchange
platform  system for  procurement  among Chinese home  appliance  manufacturers.
Midea Group is a leading home appliance  manufacturer in China,  and is publicly
traded on  China's  Shenzhen  Stock  Exchange.  Intermost  contributed  $724,637
(RMB6,000,00)  to  hold  40%  of  Sino-E,  while  Midea  contributed  $1,086,956
(RMB9,000,000)  to hold 60% of  Sino-E.  Intermost's  interest  in Sino-E may be
further  transferred to a third party when appropriate.  In August and September
2000,  NEU-Alpine  Software  Corporation,  one of the largest publicly traded IT
companies in China,  contributed $120,772 (RMB1,000,000) to Sino-E. Intermost is
now engaged in developing Sino-E's exchange platform.

     In May 2000, the Company signed a Letter of Intent to purchase  Huifeng Web
Security,  an Internet security and technology products developer  headquartered
in Shenzhen. In October 2000, the Company entered into an agreement, superceding
the Letter of Intent,  pursuant  to which the Company  agreed to acquire  shares
representing  58.3% of J-R Technologies  Ltd..a 90% shareholder of Huifeng.  The
purchase  price for the  shares of  Huifeng  is  payable  $176,470  in cash plus
510,300  shares of common stock.  J-R  Technologies  is required to use the cash
portion of the purchase price to fund operations of Huifeng. Huifeng specializes
in the development and sale of Internet and financial system security solutions.
Huifeng focuses its sales on financial, banking, telecom, and government markets
in southern  China.  Huifeng has been in  operation  since  August  1999.  As of
November 13, 2000, due diligence was ongoing.

     Depending upon the rate of growth and the growth initiatives undertaken, we
may seek additional capital in the future to support expansion of operations and
acquisitions.  We are presently  involved in discussions with various  financing
sources with respect to providing equity financing.

Certain Factors Affecting Future Operating Results

     Our operating  results have been,  and will  continue to be,  affected by a
wide  variety of factors that could have a material  adverse  effect on revenues
and profitability during any particular period,  including the level and rate of
acceptance of our products and services by the Chinese people,  continued growth
in use of the Internet in China, entry of new competition (including established
companies  from  outside  of China  and  companies  with  substantially  greater
resources),  fluctuations in the level of orders for services which are received
and can be delivered in a quarter,  rescheduling  or  cancellation  of orders by
customers,  competitive pressures on selling prices, changes in product, service
or customer  mix,  rapid  changes in  technology,  dependence  upon  certain key
employees,  availability and cost of computer technicians, loss of any strategic
relationships,  our ability to  introduce  new products and services on a timely
basis, new product and service  introductions  by our competitors,  requirements
for additional  capital to support future growth and acquisitions,  fluctuations
in exchange  rates,  and general  economic  conditions,  among  others.  Various
factors  which  effect our future  operating  results are  discussed in our Form
10-KSB.

     Future  revenues  and  operating  results  may  also  be  effected  by  the
operations of Dunwell  Computer  (Hong Kong) Ltd. and Huifeng Web Security if we
consummate the  acquisitions of Dunwell and Huifeng pursuant to existing letters
of intent.

     Except  as  noted  above,  we are  not  aware  of  any  trends,  events  or
uncertainties  which  have had,  or are  reasonably  likely to have,  a material
impact on our operations or our short-term or long-term liquidity.

                                       9
<PAGE>



                           PART II - OTHER INFORMATION

Item 6. Exhibits and Reports on Form 8-K

     (a)  Exhibits

          Exhibit No.                 Description

             27.1           Financial Data Schedule

     (b)  Reports on Form 8-K

           None

                                       10
<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.


                                                      INTERMOST CORPORATION


Dated:   November 17, 2000                    By:  /s/ Jun Liang
                                                 -------------------------------
                                                Jun Liang, President and C.E.O.



                                              By: /s/ Oliver Li
                                                 -------------------------------
                                                Oliver Li, Financial Controller