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U. S. Securities and Exchange Commission
Washington, D.C. 20549
FORM 10-QSB
[X] SIX MONTHS REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the six month period ended June 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
(ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)
Not Applicable.
(APPLICABLE ONLY TO CORPORATE ISSUERS)
State the number of shares outstanding of each of the Issuer's classes of
common equity, as of the latest practicable date:
June 30, 1996
30,837,652
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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: August 14, 1996 By:
Stephen J. Markee, Director, President,
CEO and CFO
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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PERIOD-TYPE 6-MOS
FISCAL-YEAR - END DEC-31-1996
PERIOD-END JUN-30-1996
CASH 278,342
SECURITIES 0
RECEIVABLES 0
ALLOWANCES 0
INVENTORY 0
CURRENT-ASSETS 323,092
PP&E 544,945
DEPRECIATION 464,321
TOTAL-ASSETS 403,716
CURRENT-LIABILITIES 1,727,915
BONDS 0
PREFERRED-MANDATORY 0
PREFERRED 0
COMMON 30,838
OTHERSE (1,440,565)
TOTAL-LIABILITY-AND -EQUITY 403,716
SALES 484,180
TOTAL REVENUES 365,302
CGS 365,302
OTHER EXPENSES 409,670
LOSS-PROVISION
INTEREST-EXPENSE 54,155
INCOME-PRETAX (344,947)
INCOME-TAX 0
INCOME-CONTINUING (344,947)
DISCONTINUED 0
EXTRAORDINARY 0
CHANGES 0
NET-INCOME (344,947)
EPS-PRIMARY (.01)
EPS-DILUTED (.01)
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