PIRANHA INTERACTIVE PUBLISHING, INC.
                                  BALANCE SHEET
                                  JUNE 30, 1998
                                   (UNAUDITED)

                                     ASSETS
Current assets:
   Cash and cash equivalents                                        $ 1,032,276
   Accounts receivable, net of allowance for returns
     of $255,749 and doubtful accounts of $5,000                      1,013,069
   Inventories                                                          246,250
   Prepaid royalties                                                    194,921
   Other prepaid expenses                                               103,687
                                                                    -----------
Total current assets                                                  2,590,203

Property and equipment, net                                             101,394
Other assets                                                              4,293
                                                                    -----------
Total assets                                                        $ 2,695,890
                                                                    ===========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
   Accounts payable                                                 $   306,145
   Payroll related accruals                                              21,387
   Other accrued liabilities                                             20,140
                                                                    -----------
Total current liabilities                                               347,672

Notes payable - officers                                                 42,243
Other liabilities                                                         6,568
                                                                    -----------
Total liabilities                                                       396,483

Stockholders' equity:
   Preferred stock, $.001 par value;  5,000,000 shares
      authorized;  no shares issued and outstanding
      Common stock, $.001 par value; 20,000,000 shares
      authorized; 3,200,000 shares issued and outstanding                 3,200
   Additional paid-in capital                                         5,901,339
   Accumulated deficit                                               (3,605,132)
                                                                    -----------
Total stockholders' equity                                            2,299,407
                                                                    -----------

Total liabilities and stockholders' equity                          $ 2,695,890
                                                                    ===========