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Exhibit 19.2

UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK


In re	:
	:	Chapter 11 Case Nos.
	:
RHYTHMS NETCONNECTIONS INC., et al.,	:	01- 14283 (BRL)
	:	through
	:	01- 14287 (BRL)
	:
Debtors.	:	(Jointly Administered)
	:

Quarterly Operating Statements For
The Period October 1, 2003 to February 29, 2004

Debtors
Rhythms NetConnections Inc.
Rhythms Links Inc.
Rhythms Links Inc.—Virginia
Rhythms Leasing Inc.
RCanada, Inc.
Debtors' Address
9100 E. Mineral Circle Englewood, CO 80112
	Total Disbursements:	$	6,856,021
Debtors' Attorneys
Weil, Gotshal & Manges LLP 767 Fifth Avenue New York, NY 10153
	Operating Profit (Loss):	$	98,000

The undersigned, having reviewed the attached report and being familiar with the Debtors' financial affairs, verifies under the penalty of perjury, that the information, contained therein is complete, accurate and truthful to the best of my knowledge.

Date: March 17, 2004

/s/ BRIAN FARLEY

Brian Farley
CEO

Indicate if this is an amended statement by checking here

Amended Statement

Rhythms NetConnections Inc.

Consolidated Balance Sheets

(In Thousands)

				31-Dec 2001			31-Dec 2002			31-Dec 2003			31-Jan 2004			29-Feb 2004
				(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
ASSETS
Current assets:
	Cash and cash equivalents			$	5,266		$	9,062		$	1,853		$	1,962		$	1,954
	Short-term investments				111,537			—			—			—			—
	Restricted cash				51,854			3,834			—			—			—
	Accounts receivables, net				—			—			—			—			—
	Loans, interest, and other receivables, net				5,085			(58	)		—			—			—
	Inventory				—			—			—			—			—
	Prepaid expenses and other current assets				4,590			75			40			40			40

		Total current assets			178,332			12,913			1,893			2,002			1,994

Furniture, fixtures and equipment, net					6,000			—			—			—			—
Collocation fees, net					—			—			—			—			—
Investments					3,050			—			—			—			—
Other assets					3,208			2			3			3			3

TOTAL ASSETS				$	190,590		$	12,915		$	1,896		$	2,005		$	1,997

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
	Current portion of long-term debt			$	—		$	—		$	—		$	—		$	—
	Accounts payable—Trade
		Prepetition Liabilities			8,318			37,935			7,212			7,215			7,215
		Post Petition Liabilities			12,247
	Interest payable				31,489			—			—			—			—
	Accrued expenses				18,524			418			42			42			42
	Other current liabilities				11,302			—			—			—			—
Senior notes payable					849,312			737,624			723,302			723,302			723,302

			Total current liabilities		931,192			775,977			730,556			730,559			730,559

Long-term Deferred Installation Revenues					—			—			—			—			—

			Total liabilities		931,192			775,977			730,556			730,559			730,559

Mandatorily redeemable common stock warrants					—
Mandatorily redeemable preferred stock					501,265			513,950			513,950			513,950			513,950

					1,432,457			1,289,927			1,244,506			1,244,509			1,244,509
Stockholders' deficit:
	Common stock, $0.001 par value; 250,000,000 79,750,254 as of 2001 and 2002				80			80			80			80			80
	Treasury stock, 156,768 as of 2001 and 2002				(472	)		(472	)		(472	)		(472	)		(472	)
	Additional paid-in capital				335,138			322,452			322,452			322,452			322,452
	Warrants and Deferred Compensation				87,157			87,157			87,157			87,157			87,157
	Accumulated deficit, prior year				(825,800	)		(1,663,770	)		(1,686,229	)		(1,651,827	)		(1,651,827	)
	Accumulated (deficit) income, current year				(837,970	)		(22,459	)		34,402			106			98
	Accumulated comprehensive income							—			—			—			—

			Total stockholders' deficit		(1,241,867	)		(1,277,012	)		(1,242,610	)		(1,242,504	)		(1,242,512	)

TOTAL LIABILITIES AND STOCKHOLDERS' DEF				$	190,590		$	12,915		$	1,896		$	2,005		$	1,997

Schedule of Disbursements by Company

2004

Monthly Payments		Operating Expenses								Payroll Expenses								Total Disbursements
Company Name		Q1, 2003		Q2, 2003		Q3, 2003		Q4, 2003		Q1, 2003		Q2, 2003		Q3, 2003		Q4, 2003
Rhythms NetConnections, Inc.		$	12,025							$	56,097							$	68,122
Rhythms Links Inc.		$	—															$	—
Rhythms Links Virginia, Inc.		$	—															$	—
Rhythms Leasing		$	—															$	—
RCanada Inc.																		$	—

	Total Disbursements	$	12,025	$	0	$	0	$	0	$	56,097	$	0	$	0	$	0	$	68,122

Rhythms NetConnections

Schedule of Disbursements by Company

2003

Monthly Payments		Operating Expenses								Payroll Expenses								Total Disbursements
Company Name		Q1, 2003		Q2, 2003		Q3, 2003		Q4, 2003		Q1, 2003		Q2, 2003		Q3, 2003		Q4, 2003
Rhythms NetConnections, Inc.		$	9,590,832	$	661,067	$	1,136,655	$	6,761,546	$	148,124	$	26,353	$	26,353	$	26,353	$	18,377,283
Rhythms Links Inc.		$	—	$	—													$	—
Rhythms Links Virginia, Inc.		$	—	$	—													$	—
Rhythms Leasing		$	—	$	—													$	—
RCanada Inc.																		$	—

	Total Disbursements	$	9,590,832	$	661,067	$	1,136,655	$	6,761,546	$	148,124	$	26,353	$	26,353	$	26,353	$	18,377,283

Rhythms NetConnections, Inc

Statement of Cash Flow

(In Thousands)

				Year to date 31-Dec 2002			Quarter Ended 31-Dec 2003			Year-to-Date 31-Dec 2003			Month-to-date 31-Jan 2004		Month-to-date 29-Feb 2004			Period Ended 29-Feb 2004
				(unaudited)			(unaudited)			(unaudited)			(unaudited)		(unaudited)			(unaudited)
Cash Flows from Operating Activities:
	Net (Loss) Gain			$	(22,459	)	$	31,927		$	34,402		$	106	$	(8	)	$	98
	Adjustments to reconcile net loss to net cash used for operating activities:
		Loss on Liquidation of Assets			551			—			—			—		—
		Asset impairment and valuation			—			—			—			—		—
	Net change in working capital:
		(Increase)Decrease in accounts, loans, interest, and other receivables, net			5,099			22			(14	)		—		—
		Decrease in prepaid expenses and other current assets			3,673			(31	)		22			—		—
		(Increase) Decrease in trust assets			2,627			—			—			—		—
		Increase(Decrease) in accounts payable			17,371			(30,945	)		(30,724	)		3		—		$	3
		(Decrease) in accrued expenses and other current liabilities			(29,563	)		(9	)		(389	)		—		—

			Net cash provided by (used) for operating activities		(22,701	)		964			3,297			109		(8	)		101

Cash Flows from Investing Activities:
	Purchases (maturities) of government securities and ST Investments				159,602			—		$	3,807		$	—	$	—		$	—
	Proceeds from Liquidation of Assets				9,919			35		$	9		$	—	$	—		$	—

			Net cash provided by (used for) investing activities		169,521			35			3,816			—		—			—

Cash Flows from Financing Activities:
	Repayment per Plan of Reorganization				(143,024	)		(5,909	)	$	(14,322	)	$	—	$	—		$	—

			Net cash provided by (used for) financing activities		(143,024	)		(5,909	)		(14,322	)		—		—			—

Net increase in cash and cash equivalents					3,796			(4,910	)		(7,209	)		109		(8	)		101
Cash and cash equivalents at beginning of period					5,266			6,763			9,062			1,853		1,962			1,853

Cash and cash equivalents at end of period				$	9,062		$	1,853		$	1,853		$	1,962	$	1,954		$	1,954

Supplemental schedule of cash flow information:
	Cash paid for interest			$	—		$	—		$	—		$	—	$	—		$	—

Rhythms NetConnections Inc.

Consolidated Statement of Operations

(In Thousands)

			Year-to-Date 31-Dec 2002			Quarter-to-Date 31-Dec 2003			Year-to-Date 31-Dec 2003			Month-to-date 31-Jan 2004			Month-to-date 29-Feb 2004			Period Ended 29-Feb 2004
			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)			(unaudited)
Revenue:
	Service and Installation Revenues		$	—		$	—		$	—		$	—		$	—		$	—
	Sales Returns and Allowances

Service and installation, net			$	—		$	—		$	—		$	—		$	—		$	—

Cost of Services:
	Network and service costs		$	(31	)	$	—		$	—		$	—		$	—		$	—
Operating Expenses:
	General and administrative		$	7,534		$	503		$	1,716		$	35		$	33		$	68

		Total Cost of Operations	$	7,503		$	503		$	1,716		$	35		$	33		$	68

Loss from operations			$	(7,503	)	$	(503	)	$	(1,716	)	$	(35	)	$	(33	)	$	(68	)

Interest income			$	1,345		$	5		$	28		$	2		$	2		$	4
Interest expense (including amortized debt discount and issue costs)			$	154		$	—		$	—		$	—		$	—		$	—
Gains(Loss) on Liquidation of Assets			$	2,482		$	(35,778	)	$	(32,874	)	$	69		$	(43	)	$	26
Gains(Loss) on Settlement of Bankruptcy Claims			$	(18,937	)	$	(4,002	)	$	(3,172	)	$	—		$	—		$	—
Other income			$	—		$	—		$	—		$	—		$	—		$	—

		Total other income (expense)	$	(14,956	)	$	(39,775	)	$	(36,018	)	$	71		$	(41	)	$	30

Net Income (Loss)			$	(22,459	)	$	(40,278	)	$	(34,302	)	$	106		$	(8	)	$	98

Rhythms NetConnections Inc.

Gross Wages Paid

4Q2003

Pay Period		Amount
Pay-period ending 10/03/03		$	16,981
Pay-period ending 10/17/03		$	9,372
Pay-period ending 10/31/03			9,372

	Total October, 2003	$	35,725

Pay-period ending 11/14/03		$	9,372
Pay-period ending 11/28/03			16,981

	Total November, 2003	$	26,353

Pay-period ending 12/12/03		$	9,372
Pay-period ending 12/26/03			16,981

	Total December, 2003	$	26,353

All wage obligations are paid by the Debtor, Rhythms NetConnections Inc. No wages are paid by Rhythms Links, Rhythms Links VA, Rhythms Leasing or Rhythms Canada.

Rhythms NetConnections Inc.

Gross Wages Paid

1Q2004

Pay Period		Amount
Pay-period ending 1/9/03		$	10,025
Pay-period ending 1/23/03			18,024

	Total January, 2004	$	28,049

Pay-period ending 2/6/03		$	10,025
Pay-period ending 2/20/03			18,024

	Total February, 2004	$	28,049

All wage obligations are paid by the Debtor, Rhythms NetConnections Inc. No wages are paid by Rhythms Links, Rhythms Links VA, Rhythms Leasing or Rhythms Canada.

Rhythms NetConnections Inc.

Schedule of Payroll Taxes

4Q03

Description	Payroll Tax Withheld	Payroll Tax Incurred	Payroll Tax Paid
FIT WITHHELD	4,070		4,070
MEDICARE WITHHELD	240		240
OASDI WITHHELD	203		203
COLORADO SIT WITHHELD	733		733	October 3, 2003
MEDICARE PAYABLE		240	240
OASDI PAYABLE		203	203
FIT WITHHELD	2,006		2,006
MEDICARE WITHHELD	131		131
OASDI WITHHELD	203		203
COLORADO SIT WITHHELD	394		394	October 17, 2003
MEDICARE PAYABLE		131	131
OASDI PAYABLE		203	203
FIT WITHHELD	2,006		2,006
MEDICARE WITHHELD	131		131
OASDI WITHHELD	203		203
COLORADO SIT WITHHELD	394		394	October 31, 2003
MEDICARE PAYABLE		131	131
OASDI PAYABLE		203	203
FIT WITHHELD	2,006		2,006
MEDICARE WITHHELD	203		203
OASDI WITHHELD	131		131
COLORADO SIT WITHHELD	394		394	November 14, 2003
MEDICARE PAYABLE		203	203
OASDI PAYABLE		131	131
FIT WITHHELD	4,070		4,070
MEDICARE WITHHELD	240		240
OASDI WITHHELD	203		203
COLORADO SIT WITHHELD	733		733	November 28, 2003
MEDICARE PAYABLE		240	240
OASDI PAYABLE		203	203
FIT WITHHELD	2,006		2,006
MEDICARE WITHHELD	131		131
OASDI WITHHELD	203		203
COLORADO SIT WITHHELD	394		394	December 12, 2003
MEDICARE PAYABLE		131	131
OASDI PAYABLE		203	203
FIT WITHHELD	4,070		4,070
MEDICARE WITHHELD	240		240
OASDI WITHHELD	203		203
COLORADO SIT WITHHELD	733		733	December 26, 2003
MEDICARE PAYABLE		240	240
OASDI PAYABLE		203	203

	26,672	2,663	29,334

Rhythms NetConnections Inc.

Schedule of Payroll Taxes

Description	Payroll Tax Withheld	Payroll Tax Incurred	Payroll Tax Paid
FIT WITHHELD	1,820		1,820
MEDICARE WITHHELD	131		131
OASDI WITHHELD	560		560
COLORADO SIT WITHHELD	222		222	January 9, 2004
MEDICARE PAYABLE		131	131
OASDI PAYABLE		560	560
FIT WITHHELD	3,744		3,744
MEDICARE WITHHELD	240		240
OASDI WITHHELD	1,025		1,025
COLORADO SIT WITHHELD	733		733	January 23, 2004
MEDICARE PAYABLE		240	240
OASDI PAYABLE		1,025	1,025
FIT WITHHELD	131		131
MEDICARE WITHHELD	560		560
OASDI WITHHELD	222		222
COLORADO SIT WITHHELD	528		528	February 6, 2004
MEDICARE PAYABLE		560	560
OASDI PAYABLE		222	222
FIT WITHHELD	3,744		3,744
MEDICARE WITHHELD	240		240
OASDI WITHHELD	1,025		1,025
COLORADO SIT WITHHELD	733		733	February 20, 2004
MEDICARE PAYABLE		240	240
OASDI PAYABLE		1,025	1,025

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Exhibit 19.2

RHYTHMS NET CONNECTIONS INC 8-K