<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2003-12-31</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0001017699</issuerCik>
        <issuerName>INVESTNET INC</issuerName>
        <issuerTradingSymbol>IVNE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001276720</rptOwnerCik>
            <rptOwnerName>SAU HO YUEN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>UNITS 702-3, CROCODILE HOUSE II</rptOwnerStreet1>
            <rptOwnerStreet2>55 CONNAUGHT RD 7TH FL</rptOwnerStreet2>
            <rptOwnerCity>CENTRAL HONG KONG CHINA</rptOwnerCity>
            <rptOwnerState>F4</rptOwnerState>
            <rptOwnerZipCode>00000</rptOwnerZipCode>
            <rptOwnerStateDescription>CHINA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Resigned as a Director</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks>Resigned as a Director, March 22, 2004.</remarks>

    <ownerSignature>
        <signatureName>Yuen Sau Ho</signatureName>
        <signatureDate>2004-05-06</signatureDate>
    </ownerSignature>
</ownershipDocument>

