U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE
30, 2001

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM
______________ TO ______________

COMMISSION FILE NUMBER: 000-26051

BEAR AEROSPACE, INC.
(Exact name of registrant as specified in its charter)

THEINTERNETCORP.NET, INC.
101 COLOMBARD COURT, STE 240, PONTE VEDRA, FLORIDA 32082
(Former name or former address, if changed since last report)

Nevada 88-0424430
(State or jurisdiction of incorporation (I.R.S. Employer
or organization) Identification No.)

23401 Park Sorrento, Suite 18, Calabasas, California 91302
(Address of principal executive offices) (Zip Code)

Registrant's telephone number: (818) 225-0077

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act: Common
Stock, $0.001 Par Value

Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the Registrant was required to file such
reports), and (2) been subject to such filing requirements for the
past 90 days. Yes X No .

As of June 30, 2001, the Registrant had 109,666,667 shares of
common stock issued and outstanding.

Transitional Small Business Disclosure Format (check one): Yes No X.

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION PAGE

ITEM 1. FINANCIAL STATEMENTS

CONSOLIDATED BALANCE SHEET AS OF JUNE 30, 2001 3

CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS AND SIX MONTHS ENDED
JUNE 30, 2001 4

CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED
JUNE 30, 2001 5

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 6

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS 6

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS 7

ITEM 3. DEFAULTS UPON SENIOR SECURITIES 7

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS 7

ITEM 5. OTHER INFORMATION 7

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K 7

SIGNATURE 7

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCAL STATEMENTS.

BEAR AEROSPACE, INC.
BALANCE SHEET
June 30, 2001

ASSETS

CURRENT ASSETS
Cash $ 1,260
Inventory 497,976
Accounts Receivable 213,447
TOTAL CURRENT ASSETS $ 712,683

PROPERTY AND EQUIPMENT, NET $ 0

OTHER ASSETS 0
TOTAL ASSETS $ 712,683

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
Accounts Payable $ 432,423
Accrued Liabilities 0
Current Portion, Long Term Debt 0
TOTAL CURRENT LIABILITIES $ 432,423

LONG-TERM DEBT
STOCKHOLDERS' EQUITY
Common Stock, $0.001 par value
authorized 190,000,000 shares; issued and outstanding
109,666,667 shares $ 109,667

Additional Paid in Capital 340,305

Retained Earnings (Deficit) (169,712)
TOTAL STOCKHOLDERS' EQUITY $ 280,260

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 712,683

See accompanying notes to financial statements.

BEAR AEROSPACE, INC.
STATEMENT OF OPERATIONS

For the six
months ended
Jun 30, 2001

REVENUES $ 0
COSTS OF REVENUES 0
GROSS PROFIT $ 0

OPERATING EXPENSES
Selling, general and administrative $ 74,951
Depreciation 0
TOTAL OPERATING EXPENSES $ 74,951
INCOME (LOSS) FROM OPERATIONS (74,951)

OTHER INCOME (EXPENSES)
Gain on sale of assets 0
Interest income 0
INCOME (LOSS) BEFORE INCOME TAXES (74,951)
Income Taxes 0
NET PROFIT (LOSS) (74,951)

NET PROFIT (LOSS) PER SHARE ( nil )

AVERAGE NUMBER OF SHARES OF COMMON
STOCK OUTSTANDING 109,666,667

See accompanying notes to financial statements.

BEAR AEROSPACE, INC.
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
June 30, 2001

Common Stock
Number Retained
of Additional Paid In Earnings
Shares Amount Capital (Deficit)

October 27, 1998
issued for cash 750 $ 2,278 $ 35,168

Net (Loss) for the period
October 27,1998 (Inception) to
December 31, 1998 $ (11,872)

Balance Dec. 31, 1998 750 $ 2,278 $ 35,168 $ (11,872)

Net Income January 1, 1999
to December 31, 1999 $ 3,112

Balance Dec 31, 1999 750 $ 2,278 $ 35,168 $ (8,760)

Additional capital
Net (Loss) January 1, 2000
to December 31, 2000 $ (86,001)

Balance Dec. 31, 2000 750 $ 2,278 $ 47,179 $ (94,761)

January 1, 2001
merger with Bearcraft Aviation LLC 750 $ 400,515

April 1, 2001
merger with Theinternetcorp.net 109,665,167 $ 107,389 $ (107,389)

Net (Loss) January 1, 2001
to June 30, 2001 $ (74,951)

Balance June 30, 2001 109,666,667 $ 109,667 $ 340,305 $ (169,712)

See accompanying notes to financial statements.

BEAR AEROSPACE, INC.
STATEMENT OF CASH FLOWS

For the six months ended Jun 30, 2001

CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss) $ (74,951)
Adjustments to reconcile net income
(loss) to cash provided by operatingactivities:
Depreciation 0
Increase in accounts receivable (213,447)
Increase in inventory (485,700)
Increase in accounts payable 368,553
Increase in accrued liabilities 0
Decrease in accrued liabilities 0
Net cash provided by operating activities $ (405,545)

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property & equipment 0
Net cash (used in) investing activities 0

CASH FLOWS FROM FINANCING ACTIVITIES
Issue common stock 400,515
Net increase (decrease) in cash (5,030)
Cash, Beginning of Period 6,290
Cash, Ending of Period 1,260

See accompanying notes to financial statements.

BEAR AEROSPACE, INC.
NOTES TO FINANCIAL STATEMENTS

NOTE 1 - HISTORY AND ORGANIZATION OF THE COMPANY

The Company was organized October 27, 1998 under the laws of the State of
North Dakota, under the name of Bearcraft Aero Systems, Inc. The Company
subsequently changed its name on November 7, 2000 to Bear Aerospace, Inc. The
Company operates in the aircraft and aviation engine manufacturing industries.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Method

The Company records income and expenses on the accrual method of accounting.

Estimates

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities, disclosure of
contingent assets and liabilities, and the reported amounts of revenue and
expenses during the reporting period. Actual results could differ from those
estimates.

Cash and equivalents

For the statements of cash flows, all highly liquid investments with a
maturity of three months or less are considered to be cash equivalents. There
were no cash equivalents as of June 30, 2001.

Inventory

Inventories are stated at the lower of cost (which approximates first-in,
first-out cost) or market.

Property and equipment

The Company maintains nor controls any property and equipment.

Income taxes

Income taxes are provided for using the liability method of accounting in
accordance with Statement of Financial Accounting Standards No. 109 (SFAS #109)
"Accounting for Income Taxes." A deferred tax asset or liability is recorded
for all temporary differences between financial and tax reporting. Deferred
tax expense (benefit) results from the net change during the year of deferred
tax assets and liabilities.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Loss Per Share

Net loss per share is provided in accordance with Statement of Financial
Accounting Standards No. 128 (SFAS #128) "Earnings Per Share." Basic loss per
share is computed by dividing losses available to common stockholders by the
weighted average number of common shares outstanding during the period.
Diluted loss per share reflects per share amounts that would result if dilutive
common stock equivalents had been converted to common stock. As of June 30,
2001 the Company had no dilutive common stock equivalents such as stock
options.

NOTE 3 - STOCKHOLDERS' EQUITY

The authorized common stock of Bear Aerospace Corp. consists of 1,500 shares
with a par value of $0.00 per share. On October 27, 1998, the Company issued
750 shares of its common stock for $37,446 cash. On January 1, 2001, the
Company completed a merger agreement with Bearcraft Aviation LLC whereby it
issued 750 shares of its common stock for the assets and liabilities and member
equity of Bearcraft Aviation LLC. On April 1, 2001, the Company completed a
reverse merger agreement with Theinternetcorp.net whereby it issued 1500 shares
of its common stock for the 109,666,667 shares of common stock of the
Internetcorp.net.

The company has no preferred stock outstanding but is authorized to issue
10,000,000 shares with a par value of $0.001 per share.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

Other than as set forth below, the Registrant is not a party to
any material pending legal proceedings and, to the best of its
knowledge, no such action by or against the Registrant has been
threatened.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS.

Sales of Unregistered Securities.

The Registrant had no sales of unregistered securities during
the six-month period ending June 30, 2001.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

Not Applicable.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There were not any matters submitted to security holders
requiring a vote during the six-month period ending June 30, 2001
other than those matters as disclosed on Form 8-K.

ITEM 5. OTHER INFORMATION.

None.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.

(a) Reports on Form 8-K. The Company filed a Form 8-K on July
13, 2001.

(b) Exhibits. Exhibits included or incorporated by
reference herein: See Exhibit Index.

SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused this
report to be signed on its behalf by the undersigned, thereunto duly
authorized.

Bear Aerospace, Inc.

Dated: July 6, 2002 By: /s/ Skip Holm
Skip Holm, President

EXHIBIT INDEX

Exhibit No. Description

2 Exchange Agreement and Plan of Reorganization (incorporated
by reference to in the Form 8-K filed on July 13, 2001).

3.1 Articles of Incorporation (incorporated by reference to Exhibit
3.1 to the Registration Statement on Form 10-SB/A filed on May
28, 1999).

3.2 Amendment to the Articles of Incorporation for
Theinternetcorp.net, Inc. (incorporated by reference to in the
Form 8-K filed on July 13, 2001).

3.3 Amendment to the Articles of Incorporation for
Theinternetcorp.net, Inc. (incorporated by reference to in the
Form 8-K filed on July 13, 2001).