<PAGE>
U. S. Securities and Exchange Commission
Washington, D.C. 20549
FORM 10-QSB
[X] NINE MONTHS REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 For the nine month period ended September 30, 1996.
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 For the transition period from ____________ to ____________
Commission File No. 0-23806
I/NET, INC.
(Name of Small Business Issuer in its Charter)
DELAWARE 87-0046720
(State or Other Jurisdiction of (I.R.S. Employer I.D. No.)
incorporation or organization)
643 Crosstown Parkway
Kalamazoo, Michigan 49008
(Address of Principal Executive Officers)
Issuer's Telephone Number: (616) 344-3017
Indicate by check mark whether the Issuer (1) has filed all reports required to
be filed by Section 13 or 15(d) of the Exchange Act of 1934 during the preceding
12 months (or for 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.
(1) Yes X No (2) Yes X No
State the number of shares outstanding of each of the Issue's classes of
common equity, as of the latest practicable date:
September 30, 1996
30,837,652
<PAGE>
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
this report has been signed below by the following person on behalf of the
registrant and in the capacities and on the dates indicated:
I/NET, Inc.
Date:11/15/96 By: /s/ Stephen J. Markee
Stephen J. Markee, Director, President, CEO and CFO
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<LEGEND>
PERIOD-TYPE 9-MOS
FISCAL-YEAR - END DEC-31-1996
PERIOD-END SEP-30-1996
CASH 1,740
SECURITIES 0
RECEIVABLES 0
ALLOWANCES 0
INVENTORY 0
CURRENT-ASSETS 23,990
PP&E 544,945
DEPRECIATION 473,434
TOTAL-ASSETS 95,501
CURRENT-LIABILITIES 1,764,784
BONDS 0
PREFERRED-MANDATORY 0
PREFERRED 0
COMMON 30,838
OTHERSE 11,836,874
TOTAL-LIABILITY-AND -EQUITY 95,501
SALES 596,702
TOTAL REVENUES 596,702
CGS 536,574
OTHER EXPENSES 631,139
LOSS-PROVISION 0
INTEREST-EXPENSE 84,704
INCOME-PRETAX (655,715)
INCOME-TAX 0
INCOME-CONTINUING (655,715)
DISCONTINUED 0
EXTRAORDINARY 0
0
CHANGES 0
NET-INCOME (655,715)
EPS-PRIMARY (.02)
EPS-DILUTED (.02)
</LEGEND>
</TABLE>
