<PAGE> 1
RULE 424(b)(3) AND (c)
FILE NO. 333-14175
INTRANET SOLUTIONS, INC.
PROSPECTUS SUPPLEMENT TO THE PROSPECTUS DATED NOVEMBER 14, 1996
On November 14, 1996, IntraNet Solutions, Inc. reported revenues of
$4,073,798 for the second quarter ended September 30, 1996, an increase of 28.9
percent over revenues of $3,161,507 for the second quarter ended September 30,
1995. The net loss for the second quarter was $631,341 or 8 cents per share,
compared with a net loss of $33,000 or 0 cents per share in last year's second
quarter. For the six months ended September 30, revenues were $8,254,732, an
increase of 37.3 percent over revenues of $6,012,749 for the comparable
six-month period of last year. The net loss for the six-month period was
$917,189, or 12 cents per share, compared with a net loss of $62,761, or 1 cent
per share, last year.
<TABLE>
<CAPTION>
THREE MONTHS ENDED SEPT. 30, SIX MONTHS ENDED SEPT. 30
---------------------------- -------------------------
1996 1995 1996 1995
---- ---- ---- ----
<S> <C> <C> <C> <C>
REVENUES $4,073,798 $3,161,507 $8,254,732 $6,012,749
COST OF REVENUE 3,107,633 2,303,668 6,371,638 4,363,989
GROSS PROFIT 966,165 857,839 1,883,094 1,648,760
OPERATING EXPENSE 1,913,095 832,175 3,217,699 1,625,120
INTEREST EXPENSE 15,344 58,664 63,517 86,401
INCOME TAXES (330,933) 0 (480,933) 0
NET LOSS $ (631,341) $ (33,000) $ (917,189) $ (62,761)
NET LOSS PER COMMON SHARE $ (0.08) $ (0.00) $ (0.12) (0.01)
WEIGHTED AVERAGE
SHARES OUTSTANDING 7,440,606 7,440,606 7,440,606 7,440,606
</TABLE>
On November 21, 1996, IntraNet Solutions, Inc. announced that it had
completed the acquisition of substantially all of the assets of LaFountain
Corporation, a privately held graphic communications and custom printing
company located in Phoenix, Arizona. The acquisition, valued at a total of
approximately $1.8 million, consisted of cash, the assumption of certain
liabilities and the issuance of 45,000 shares of IntraNet Solutions, Inc.
Common Stock. For its most recent fiscal year, LaFountain Corporation had
revenues of approximately $3 million.
THE DATE OF THIS PROSPECTUS SUPPLEMENT IS NOVEMBER 27, 1996
