_________________________________________________________________
_________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB/A No. 1
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 31,
1996
DYNAMICWEB ENTERPRISES, INC.
(Exact name of registrant as specified in its charter)
New Jersey 0-10039 22-2267658
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Ident. No.)
271 Route 46 West, Building F,
Suite 209, Fairfield, New Jersey 07004
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (973) 244-1000
N/A
(Former name or former address, if changed since last report.)
_________________________________________________________________
_________________________________________________________________
<PAGE>
Item 2. Changes in Securities and Use of Proceeds.
On November 21, 1996, the Company sold 250,000 shares of
Common Stock to Michael Associates, Jersey City, New Jersey, for
an aggregate purchase price of $250,000.
On November 30, 1996, the Company issued 860,000 shares of
Common Stock to Kenneth R. Konikowski, Towaco, New Jersey, in
exchange for all of the outstanding capital stock of Software
Associates, Inc., a New Jersey corporation.
On November 30, 1996, the Company issued 50,000 shares of
Common Stock to the 27 shareholders of Megascore, Inc., a New
Jersey corporation, in exchange for all of the outstanding
capital stock of Megascore, Inc.
All sales and issuances of securities in the transactions
described above were deemed to be exempt from registration under
the Securities Act of 1933, as amended, by virtue of Section 4(2)
or Regulation D promulgated thereunder. The purchasers in each
case represented their intention to acquire the securities for
investment only and not with a view to the distribution thereof.
Required disclosure was provided, or access to information in
lieu of disclosure was present. Required legends are affixed to
the stock certificates and other securities issued in such
transactions. <PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this Form 10-QSB/A to be
signed on its behalf by the undersigned hereunto duly authorized.
DYNAMICWEB ENTERPRISES, INC.
Dated: November 12, 1997
By /s/ Steve Vanechanos, Jr.
Steve Vanechanos, Jr.
Chief Executive Officer
