<?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>0001276723</rptOwnerCik>
            <rptOwnerName>CHU PELEUS</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>UNIT 705, 7/F</rptOwnerStreet1>
            <rptOwnerStreet2>555 NATHAN RD., KOWLOON BLDG</rptOwnerStreet2>
            <rptOwnerCity>KOWLOON HONG KONG</rptOwnerCity>
            <rptOwnerState>F4</rptOwnerState>
            <rptOwnerZipCode>00000</rptOwnerZipCode>
            <rptOwnerStateDescription>CHINA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks>Peleus Chu resigned as a Director June 6, 2004</remarks>

    <ownerSignature>
        <signatureName>Peleus Chu</signatureName>
        <signatureDate>2004-06-07</signatureDate>
    </ownerSignature>
</ownershipDocument>

