-----------------------------
                           CONSOLIDATED BALANCE SHEET
                           --------------------------
                                 MARCH 31, 2001
                                 --------------

                                     ASSETS
                                     ------

CURRENT ASSETS

    Cash                                                           $   432,733
    Accounts receivable, net                                            53,102
    Inventory                                                           27,360
    Prepaid and other current assets                                   317,045
                                                                    -----------

        TOTAL CURRENT ASSETS                                           830,240
                                                                    -----------

FIXED ASSETS

    Wireless internet access system
        and equipment                                                1,124,228
    Computer equipment                                                 240,958
    Other                                                              121,001
                                                                    -----------

                                                                     1,486,187
    Accumulated depreciation                                           (68,947)
                                                                    -----------

                                                                     1,417,240
                                                                    -----------

OTHER ASSETS

    Patent, net                                                         37,100
    Prepaid professional fees, less
        current portion                                                226,558
    Goodwill, net                                                      761,767
    Other                                                                8,867
                                                                    -----------

                                                                     1,034,292
                                                                    -----------

                                                                   $ 3,281,772
                                                                    ===========

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