-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VwhiI6GDSbQy8adj/m4P4D6r32eKfHzrwQKQMOuLVE4i9wjDa8qylC+EXiRJ56/6 q4dmdUQrPbopvPBNI/xNRA== 0000894189-03-001570.txt : 20031028 0000894189-03-001570.hdr.sgml : 20031028 20031028162937 ACCESSION NUMBER: 0000894189-03-001570 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030831 FILED AS OF DATE: 20031028 EFFECTIVENESS DATE: 20031028 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JACOB INTERNET FUND INC CENTRAL INDEX KEY: 0001090372 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-09447 FILM NUMBER: 03961244 BUSINESS ADDRESS: STREET 1: C/O BATTLE FOWLER LLP STREET 2: 75 EAST 55TH STREET CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2128567000 MAIL ADDRESS: STREET 1: C/O BATTLE FOWLER LLP STREET 2: 75 EAST 55TH STREET CITY: NEW YORK STATE: NY ZIP: 10022 NSAR-B 1 answer7.fil JACOB INTERNET NSAR-B PAGE 1 000 B000000 08/31/2003 000 C000000 0001090372 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 JACOB INTERNET FUND 001 B000000 811-09447 001 C000000 4147655915 002 A000000 615 E MICHIGAN STREET 002 B000000 MILWAUKEE 002 C000000 WI 002 D010000 53202 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 007 C010200 2 007 C010300 3 007 C010400 4 007 C010500 5 007 C010600 6 007 C010700 7 007 C010800 8 007 C010900 9 007 C011000 10 008 A000001 JACOB ASSET MANAGEMENT OF NEW YORK LLC 008 B000001 A 008 C000001 801-56730 008 D010001 NEW YORK 008 D020001 NY 008 D030001 10001 010 A000001 U.S. BANCORP FUND SERVICES, LLC 010 B000001 85-11357 010 C010001 MILWAUKEE 010 C020001 WI 010 C030001 53202 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086 B010000 0 086 B020000 0 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 SIGNATURE RYAN JACOB TITLE PRESIDENT EX-99.77B 3 exhibit77b.txt AUDITOR'S REPORT Report of Independent Auditors To the Shareholders and Board of Directors of Jacob Internet Fund Inc. In planning and performing our audit of the financial statements of Jacob Internet Fund, Inc. for the year ended August 31, 2003, we considered its internal control, including control activities for safeguarding securities, in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, not to provide assurance on internal control. The management of Jacob Internet Fund Inc .is responsible for establishing and maintaining internal control. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. Generally, controls that are relevant to an audit pertain to the entity's objective of preparing financial statements for external purposes that are fairly presented in conformity with accounting principles generally accepted in the United States. Those controls include the safeguarding of assets against unauthorized acquisition, use, or disposition. Because of inherent limitations in internal control, error or fraud may occur and not be detected. Also, projection of any evaluation of internal control to future periods is subject to the risk that it may become inadequate because of changes in conditions or that the effectiveness of the design and operation may deteriorate. Our consideration of internal control would not necessarily disclose all matters in internal control that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements caused by error or fraud in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. However, we noted no matters involving internal control and its operation, including controls for safeguarding securities, which we consider to be material weaknesses as defined above as of August 31, 2003. This report is intended solely for the information and use management, the Board of Directors of Jacob Internet Fund, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties. /s/ Ernst & Young LLP Milwaukee, WI September 24, 2003 -----END PRIVACY-ENHANCED MESSAGE-----