UNITED
      STATES


SECURITIES
      AND EXCHANGE COMMISSION


Washington,
      D.C. 20549





———————


FORM
      10-Q


———————





X
            QUARTERLYREPORT
                PURSUANT TO SECTION 13 OR
                15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For
                thequarterly periodended:June
                30,
                2008OrTRANSITIONREPORT
                PURSUANT TO SECTION 13 OR
                15(d) OF THE SECURITIES EXCHANGE ACT OF1934For
                the transition period from:
                _____________ to
                _____________





———————


TRANSFER
      TECHNOLOGY
      INTERNATIONAL CORP.


(Exact
      name of registrant as
      specified in its charter)


———————





DELAWARE
            000-27131
            88-0381258(State
                or Other Jurisdiction
            (Commission
            (I.R.S.
                Employerof
                Incorporation)
            File
                Number)
            Identification
                No.)


2203
      North Lois Avenue,
      Suite 704 Tampa, FL  33607


(Address
      of Principal Executive Office) (Zip Code)




(813)
      600-4081


(Registrant’s
      telephone number, including area code)





N/A


(Former
      name, former address and former fiscal year, if changed since last
      report)


———————


Indicate
                by check mark whether the
                registrant (1) has filed all reports required
                to be filed by Section 13 or
                15(d) of the
              Securities
                Exchange Act of 1934
                during the preceding 12 months (or for such shorter period that the registrant
                wasrequiredto
                file such reports), and (2) has
                been subject to such filing requirements for the past 90
                days.
            X
            Yes
            
            NoIndicateby
                check mark whether the
                registrant is a large accelerated filer, an accelerated filer, a
                non-accelerated filer., or a smaller
                reporting
                company.Large
                accelerated
                filer
            
            
            
            Accelerated
                filerNon-accelerated
                filer
            
            
            
            Smaller
                reporting
                company
            XIndicateby
                check mark whether the
                registrant is a shell company (as defined in Rule 12b-2 of the
                Act).
            
            Yes
            X
            NoThe
                number of shares of the
                issuer’s Common Stock outstanding as ofAugust 12,
                2008is14,965,165.




-
              1 -


PART
      I – FINANCIAL INFORMATION





Item
      1.                      
Financial Statements.








TRANSFER
      TECHNOLOGY INTERNATIONAL CORP.


(FORMERLY
      KNOWN AS INVERTED PARADIGMS CORPORATION)


CONSOLIDATED
      FINANCIAL STATEMENTS


FOR
      THE SIX MONTHS ENDED JUNE 30, 2008 AND 2007





-
            2 -




TRANSFER
      TECHNOLOGY INTERNATIONAL CORP.


(FORMERLY
      KNOWN AS INVERTED PARADIGMS CORPORATION)


INDEX
      TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


FOR
      THE SIX MONTHS ENDED JUNE 30, 2008 AND 2007




FINANCIAL
        STATEMENTS:                                                                                    Pages
 
 
 Condensed
        Consolidated Balance Sheets as of June 30, 2008 (unaudited)
 and
        December 31, 2007
        (audited)                                                                                 4
 
 Condensed
        Consolidated Statements of Operations for the six months
 and
        three months ended June 30, 2008 and 2007
        (unaudited)                                   5
 
 Condensed
        Consolidated Statement of Cash Flows for the six months
 Ended
        June 30, 2008 and
        2007                                                                                     6
 
 Notes
        to
        Condensed Consolidated Financial
        Statements                                            7
– 15


-
          3 -


TRANSFER
                  TECHNOLOGY INTERNATIONAL
                  CORPORATION AND SUBSIDIARIES(FKA
                  INVERTED PARADIGMS
                  CORPORATION AND SUBSIDIARIES)CONDENSED
                  CONSOLIDATED BALANCE
                  SHEETS(Unaudited)
              
              
              (Audited)June
                  30,
              
              
              December
                  31,2008
              
              
              2007ASSETSCURRENT
                  ASSETSCash
              
              $
              74,782
              
              
              $
              1,915Prepaid
                  Expenses
              
              
              2,191
              
              
              
              2,862Total
                  current assets
              
              
              76,973
              
              
              
              4,777Equipment
              
              
              2,819
              
              
              
              -TOTAL
                  ASSETS
              
              $
              79,792
              
              
              $
              4,777LIABILITIES
                  AND STOCKHOLDERS'
                  EQUITY (DEFICIT)CURRENT
                  LIABILITIESAccounts
                  Payable
              
              $
              97,762
              
              
              $
              146,730Other
                  Current
                  Liabilities
              
              
              125,040
              
              
              
              347,053Liability
                  for
                  Stock to be issued
              
              
              81,000
              
              
              
              15,000Notes
                  Payable
              
              
              108,630
              
              
              
              107,037Total
                  current liabilities
              
              
              412,432
              
              
              
              615,820TOTAL
                  LIABILITIES
              
              
              412,432
              
              
              
              615,820STOCKHOLDERS'  (DEFICIT)Common
                  stock, par value $.001 per
                  share; 250,000,000 shares authorizedand
                  14,299,165  and 6,243,982 shares issued
                  and  outstanding
              
              
              14,298
              
              
              
              6,243at
                  June 30, 2008
                  and December 31, 2007 respectively.
              
              
              -
              
              
              
              -Subscription
                  Receivable
              
              
              (474
              )
              
              
              (1,449
              )Additional
                  paid-in capital
              
              
              43,054,847
              
              
              
              40,674,740(Accumulated
                  deficit)
              
              
              (43,401,311
              )
              
              
              (41,290,577
              )Total
                  stockholders'  (deficit)
              
              
              (332,640
              )
              
              
              (611,043
              )TOTAL
                  LIABILITIES AND
                  STOCKHOLDERS' EQUITY (DEFICIT)
              
              $
              79,792
              
              
              $
              4,777
  The
      accompanying notes are an integral part of these condensed consolidated
      financial statements.





-
            4 -


TRANSFER
                  TECHNOLOGY INTERNATIONAL
                  CORPORATION AND SUBSIDIARIESCONDENSED
                  CONSOLIDATED STATEMENTS
                  OF INCOME (LOSS) (UNAUDITED)FOR
                  THE SIX AND THREE MONTHS ENDED
                  JUNE 30, 2008 AND 2007FOR
                  THE SIX MONTHS
                  ENDED
              
              
              FOR
                  THE THREE MONTHS
                  ENDEDJUNE
                30,
              
              
              JUNE
                30,2008
              
              
              2007
              
              
              2008
              
              
              2007REVENUESNet
                  sales
              
              $
              -
              
              
              $
              160
              
              
              $
              -
              
              
              $
              -Cost
                  of Sales
              
              
              -
              
              
              
              (354
              )
              
              
              -
              
              
              
              (150
              )Gross
                Loss
              
              
              -
              
              
              
              (194
              )
              
              
              -
              
              
              
              (150
              )COSTS
                  AND
                  EXPENSESSelling,
                  general and administrative
              
              
              821,564
              
              
              
              18,757
              
              
              
              588,746
              
              
              
              (78,414
              )Total
                costs and
                expenses
              
              
              821,564
              
              
              
              18,757
              
              
              
              588,746
              
              
              
              (78,414
              )(LOSS)
                  INCOME BEFORE OTHER INCOME
                  (LOSS)
              
              
              (821,564
              )
              
              
              (18,951
              )
              
              
              (588,746
              )
              
              
              78,264OTHER
                  INCOME
                  (LOSS)Interest
                  income
              
              
              4,554
              
              
              
              -
              
              
              
              600
              
              
              
              -Interest
                  expense
              
              
              (1,293,810
              )
              
              
              (51,234
              )
              
              
              (1,021,039
              )
              
              
              (19,951
              )Other
                  income
              
              
              91
              
              
              
              -
              
              
              
              91
              
              
              
              -Total
                  other Income (Loss)
              
              
              (1,289,165
              )
              
              
              (51,234
              )
              
              
              (1,020,348
              )
              
              
              (19,951
              )(LOSS)
                  INCOME BEFORE PROVISION FOR
                  INCOME TAX
              
              $
              (2,110,729
              )
              
              $
              (70,185
              )
              
              $
              (1,609,094
              )
              
              $
              58,313PROVISION
                  FOR INCOME
                  TAXES
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              -NET
                  (LOSS)
                  INCOME
              
              $
              (2,110,729
              )
              
              $
              (70,185
              )
              
              $
              (1,609,094
              )
              
              $
              58,313NET(
                  LOSS) INCOME PER COMMON SHARE
                  - BASIC AND DILUTED
              
              $
              (0.19
              )
              
              $
              (0.19
              )
              
              $
              (0.12
              )
              
              $
              0.15WEIGHTED
                  AVERAGE OUTSTANDING
                  SHARESOF
                  COMMON STOCK - BASIC AND
                  DILUTED
              
              
              11,035,320
              
              
              
              376,451
              
              
              
              13,531,207
              
              
              
              376,451


The accompanying notes are an
      integral part of these condensed consolidated financial statements.





-
            5 -


TRANSFER
                  TECHNOLOGY INTERNATIONAL
                  CORPORATION AND SUBSIDIARIESCONDENSED
                  CONSOLIDATED STATEMENTS
                  OF CASH FLOWS (UNAUDITED)FOR
                  THE SIX MONTHS ENDED JUNE 30,
                  2008 AND 20072008
              
              
              2007CASH
                  FLOWS FROM OPERATING
                  ACTIVITIES:Net
                  (Loss)
              
              $
              (2,110,729
              )
              
              $
              (70,185
              )Adjustments
                  to reconcile net
                  (loss) tonet
                  cash provided by (used in)
                  operating activities:Depreciation
                  and
                  amortization
              
              
              -
              
              
              
              1,376Loss
                  on sale of
                  asset
              
              
              -
              
              
              
              13,636Gain
                  on extinguishment of
                  debt
              
              
              -
              
              
              
              (149,180
              )Interest
                  expense
              
              
              -
              
              
              
              6,042Stock
                  issued to
                  directors
              
              
              155,330
              
              
              
              -Interest
                  resulting from
                  beneficial conversion  feature of notes
                  payable
              
              
              1,285,828
              
              
              
              -Changes
                  in Certain Assets
                  and Liabilities(Increase)
                  Decrease in other
                  current assets
              
              
              (671
              )
              
              
              20,981Increase
                  (Decrease) in accounts
                  payable
              
              
              (15,500
              )
              
              
              (18,900
              )Increase
                  (Decrease) accrued
                  expenses
              
              
              (90,373
              )
              
              
              55,062Net
                  cash (used in) operating activities
              
              
              (776,115
              )
              
              
              (141,168
              )CASH
                  FLOWS FROM INVESTING
                  ACTIVITIESPayments
                  on notes
                  payable
              
              
              (2,819
              )
              
              
              1,125-Net
                  cash provided by  (used in) continuing investing
                  activities
              
              
              (2,819
              )
              
              
              1,125CASH
                  FLOWS FROM FINANCING
                  ACTIVITIESProceeds
                  from convertible notes
                  payable
              
              
              311,062
              
              
              
              140,000Proceeds
                  from Promissory
                  notes
              
              
              40,000
              
              
              
              -Payment
                  of notes
                  paybles
              
              
              (63,400
              )
              
              
              -Proceeds
                  from stock
                  subscriptions
              
              
              466,139
              
              
              
              -Proceeds
                  from bridge
                  loan
              
              
              98,000
              
              
              
              -Net
                  cash provided by  financing activities
              
              
              851,801
              
              
              
              140,000NET
                  INCREASE (DECREASE) IN
                  CASH
              
              
              72,867
              
              
              
              (43
              )CASH
                  AND CASH EQUIVALENTS -
                  BEGINNING OF PERIOD
              
              
              1,915
              
              
              
              1,390CASH
                  AND CASH EQUIVALENTS - END OF
                  PERIOD
              
              $
              74,782
              
              
              $
              1,347SUPPLEMENTAL
                  DISCLOSURE OF CASH
                  FLOW INFORMATIONIssuance
                  of Common Stock
                  for:Stock
                  issued to
                  directors
              
              $
              155,330
              
              
              $
              -Stock
                  issued to convert notes
                  payable
              
              $
              429,400
              
              
              $
              -


The accompanying notes are
        an
        integral part of these condensed consolidated financial
        statements.





-
            6 -
 TRANSFER
              TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
              KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
              TO CONDENSED
 CONSOLIDATED
              FINANCIAL STATEMENTS
 JUNE
              30, 2008 AND 2007 (UNAUDITED)




Note
                  1 - Organization
 Transfer
        Technology International Corp. (the “Company”) was previously known as Inverted
        Paradigms Corporation (“Inverted Paradigms” or the “Company”) was incorporated
        in the State of Nevada on December 18, 1997. On September 29, 2003, the Company
        completed a re-incorporation merger into a Delaware Corporation thus changing
        the state of incorporation from Nevada to Delaware. The Company is in the
        process of seeking new technology.
 
 The
        condensed consolidated unaudited financial statements included herein have
        been
        prepared by Transfer Technology International Corporation (the “Company”),
        formerly Inverted Paradigms Corporation and Subsidiaries without audit, pursuant
        to the rules and regulations of the Securities and Exchange Commission (the
        SEC). Certain information and footnote disclosures normally included in the
        financial statements prepared in accordance with accounting principles generally
        accepted in the United States of America have been condensed or omitted as
        allowed by such rules and regulations, and the Company believes that the
        disclosures are adequate to make the information presented not misleading.
        It is
        suggested that these condensed consolidated financial statements be read
        in
        conjunction with the December 31, 2007 audited consolidated financial statements
        and the accompanying notes thereto. While management believes the procedures
        followed in preparing these condensed financial statements are reasonable,
        the
        accuracy of the amounts are in some respects dependent upon the facts that
        will
        exist, and procedures that will be accomplished by the Company later in the
        year.
 
 The
        management of the Company believes that the accompanying unaudited condensed
        consolidated financial statements contain all adjustments (including normal
        recurring adjustments) necessary to present fairly the operations, changes
        in
        stockholders’ equity (deficit), and cash flows for the periods
        presented.
 
 Name
        Change. On September 18, 2007 a majority of the stockholders approved
        changing the name of the Company from Inverted Paradigms Corporation to Transfer
        Technology International Corp.
  Note
                  2 - Basis of Presentation – Going Concern
 The
        Company’s condensed consolidated financial statements have been prepared
        assuming the Company will continue as a going concern. The Company has
        experienced net losses since February 16, 1999 (date of inception), which
        losses have caused an accumulated deficit of $43,401,311 as of June 30,
        2008. This factor, among others, raises substantial doubt about the Company’s
        ability to continue as a going concern.
 Management
        has been able, thus far, to finance the losses through a series of private
        placements. The Company is continuing to seek other sources of financing
        and
        attempting to explore alternate ways of generating revenues through partnerships
        with other businesses. Conversely, the seeking of new technology is expected
        to
        result in operating losses for the foreseeable future. There are no assurances
        that the Company will be successful in achieving its goals.
 In
        view
        of these conditions, the Company’s ability to continue as a going concern is
        dependent upon its ability to obtain additional financing or capital sources,
        to
        meet its financing requirements, and ultimately to achieve profitable
        operations. Management believes that its current and future plans to raise
        capital provide an opportunity to continue as a going concern. The accompanying
        consolidated financial statements do not include any adjustments relating
        to the
        recoverability and classification of recorded assets, or the amounts and
        classification of liabilities that may be necessary in the event the Company
        cannot continue as a going concern.


-
            7 -
 TRANSFER
              TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
              KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
              TO CONDENSED
 CONSOLIDATED
              FINANCIAL STATEMENTS
 JUNE
              30, 2008 AND 2007 (UNAUDITED)


Note
                      3 - Summary of Significant Accounting Policies
 Principles
            of Consolidation
 
 The
            condensed consolidated financial statements include the accounts of Transfer
            Technology International, Corporation and its one wholly owned subsidiary.
            All
            significant intercompany accounts and transactions are eliminated in
            the
            consolidated financial statements.
  Use
            of Estimates
 
 The
            preparation of financial statements in conformity with accounting principles
            generally accepted in the United States of America requires management
            to make
            estimates and assumptions that affect the reported amounts of assets
            and
            liabilities and disclosure of contingent assets and liabilities at the
            date of
            the financial statements and the reported amounts of revenues and expenses
            during the reporting period. Actual results could differ from those
            estimates.
 
 Cash
            and Cash Equivalents
 
 The
            Company considers all short-term investments with an original maturity
            of three
            months or less when purchased to be cash equivalents.
  Income
            Taxes
 
 The
            Company accounts for income taxes utilizing the asset and liability method.
            This
            approach requires the recognition of deferred tax assets and liabilities
            for the
            expected future tax consequences attributable to temporary differences
            between
            the financial statement carrying amounts of existing assets and liabilities
            and
            their respective tax bases and operating loss and tax credit carry forwards.
            Deferred tax assets and liabilities are measured using enacted tax rates
            expected to apply to taxable income in the years in which those temporary
            differences are expected to be recovered or settled. The effect on deferred
            tax
            assets and liabilities of a change in tax rates is recognized in income
            in the
            period that includes the enacted date. Valuation allowances are established
            when
            necessary to reduce deferred tax assets to the amount expected to be
            realized.
   In
            June
            2006, The FASB issued interpretation no. 48, Accounting for Uncertainty
            in
            Income Taxes- an interpretation of FASB Statement No. 109 (FIN 48). FIN
            48
            clarifies the accounting for uncertainty in income taxes recognized in
            an
            enterprise’s financial statements in accordance with FASB Statement No. 109,
            Accounting for Income Taxes (SFAS 109). This Interpretation prescribes
            a
            recognition threshold and measurement attribute for the financial statement
            recognition and measurement of a tax position taken or expected to be
            taken in a
            tax return. FIN 48 is effective for fiscal years beginning after December
            15,
            2006. The Company adopted FIN 48 effective January 1, 2007. The adoption
            of this
            statement had no impact on the Company's financial position or results
            of
            operation.
  Stock-Based
            Compensation
 
 On
            January 1, 2006, the Company adopted the provisions of Statement of Financial
            Accounting Standards No. 123 (revised 2004), "Share-Based Payment" ("SFAS
            No.
            123(R)") which requires that the costs
 -
              8 -
  TRANSFER
            TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
            KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
            TO CONDENSED
 CONSOLIDATED
            FINANCIAL STATEMENTS
 JUNE
            30, 2008 AND 2007 (UNAUDITED)
 Note
                        3 - Summary of Significant Accounting Policies (CONTINUED)
 
 Stock-Based
              Compensation (Continued)
 
 resulting
              from all share-based payment transactions be recognized in the financial
              statements at their fair values. The Company adopted SFAS No. 123(R)
              using the
              modified prospective application method under which the provisions
              of SFAS No.
              123(R) apply to new awards and to awards modified, repurchased, or cancelled
              after the adoption date. Additionally, compensation cost for the portion
              of the
              awards for which the requisite service has not been rendered that are
              outstanding as of the adoption date is recognized in the Statement
              of Operations
              over the remaining service period after the adoption date based on
              the award's
              original estimate of fair value.
 
 Net
              Loss Per
              Share Information
 
 Basic
              and
              diluted loss per share is calculated by dividing net loss by the
              weighted-average number of common shares outstanding during the reporting
              period. The Company’s common stock warrants have been excluded from the diluted
              loss per share computation since their effect is anti-dilutive.
 
 Fair
              Value of Financial Instruments
 
 The
              carrying amount of cash and cash equivalents, loan receivable, accounts
              payable,
              and other current liabilities approximate fair value because of the
              short
              maturity of those instruments.
 
 Reclassification
 
 Certain
              amounts in June 30, 2007 were reclassified to conform to the June 30,
              2008
              presentation. The reclassification had no effect on June 30, 2007 net
              loss.
  Recent
              Accounting
              Pronouncements
 
 In
              February 2006, the FASB issued SFAS No. 155, “Accounting for Certain
              Hybrid Financial Instruments, an amendment of FASB Statements No. 133 and
              140.” SFAS No. 155 resolves issues addressed in SFAS No. 133
              Implementation Issue No. D1, “Application of Statement 133 to Beneficial
              Interests in Securitized Financial Assets,” and permits fair value
              re-measurement for any hybrid financial instrument that contains an
              embedded
              derivative that otherwise would require bifurcation, clarifies which
              interest-only strips and principal-only strips are not subject to the
              requirements of SFAS No. 133, establishes a requirement to evaluate
              interests in securitized financial assets to identify interests that
              are
              freestanding derivatives or that are hybrid financial instruments that
              contain
              an embedded derivative requiring bifurcation, clarifies that concentrations
              of
              credit risk in the form of subordination are not embedded derivatives
              and amends
              SFAS No. 140 to eliminate the prohibition on a qualifying special-purpose
              entity from holding a derivative financial instrument that pertains
              to a
              beneficial interest other than another derivative financial instrument.
              SFAS
              No. 155 is effective for all financial instruments acquired or issued after
              the beginning of the first fiscal year that began after September 15, 2006.
              The implementation of this pronouncement had no impact on the Company’s
              financial position or results of operations. In March 2006, the FASB issued
              SFAS No. 156, “Accounting for Servicing of Financial Assets, an amendment
              of FASB Statement No. 140.” SFAS No. 156 requires an entity to
              recognize a servicing asset or liability each time it undertakes an
              obligation
              to service a financial asset by entering into a servicing contract
              under a
              transfer of the servicer’s financial assets that meets the requirements for sale
              accounting, a  transfer of the servicer’s financial assets to a
              qualified special-purpose entity in a guaranteed mortgage securitization
              in
              which the transferor retains
  -
                  9 -
 TRANSFER
                    TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
                    KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
                    TO CONDENSED
 CONSOLIDATED
                    FINANCIAL STATEMENTS
 JUNE
                    30, 2008 AND 2007 (UNAUDITED)
 Note
                      3 - Summary of Significant Accounting Policies (CONTINUED)
 
 Recent
            Accounting Pronouncements (Continued)
 
 all
            of
            the resulting securities and classifies them as either available-for-sale
            or
            trading securities in accordance with SFAS No. 115, “Accounting for Certain
            Investments in Debt and Equity Securities” and an acquisition or assumption of
            an obligation to service a financial asset that does not relate to financial
            assets of the servicer or its consolidated affiliates. Additionally,
            SFAS
            No. 156 requires all separately recognized servicing assets and servicing
            liabilities to be initially measured at fair value, permits an entity
            to choose
            either the use of an amortization or fair value method for subsequent
            measurements, permits at initial adoption a one-time reclassification
            of
            available-for-sale securities to trading securities by entities with
            recognized
            servicing rights and requires separate presentation of servicing assets
            and
            liabilities subsequently measured at fair value and additional disclosures
            for
            all separately recognized servicing assets and liabilities. SFAS No. 156 is
            effective for transactions entered into after the beginning of the first
            fiscal
            year that began after September 15, 2006.  The implementation of
            this pronouncement had no impact on the Company’s financial position or results
            of operations.
 
 In
            September 2006, the Financial Accounting Standards Board (“FASB”) issued
            SFAS No. 157 “Fair Value Measurements” (“SFAS No. 157”), which
            clarifies the definition of fair value whenever another standard requires
            or
            permits assets or liabilities to be measured at fair value. Specifically,
            the
            standard clarifies that fair value should be based on the assumptions
            market
            participants would use when pricing the asset or liability, and establishes
            a
            fair value hierarchy that prioritizes the information used to develop
            those
            assumptions. SFAS No. 157 does not expand the use of fair value to any
            new circumstances, and must be applied on a prospective basis except
            in certain
            cases. The standard also requires expanded financial statement disclosures
            about
            fair value measurements, including disclosure of the methods used and
            the effect
            on earnings.
 
 In
            February 2008, FASB Staff Position ("FSP") FAS No. 157-2, "Effective
            Date of
            FASB Statement No. 157" ("FSP No. 157-2") was issued. FSP No. 157-2 defers
            the
            effective date of SFAS No. 157 to fiscal years beginning after December
            15,
            2008, and interim periods within those fiscal years, for all nonfinancial
            assets
            and liabilities, except those that are recognized or disclosed at fair
            value in
            the financial statements on a recurring basis (at least annually). Examples
            of
            items within the scope of FSP No. 157-2 are nonfinancial assets and nonfinancial
            liabilities initially measured at fair value in a business combination
            (but not
            measured at fair value in subsequent periods), and long-lived assets,
            such as
            property, plant and equipment and intangible assets measured at fair
            value for
            an impairment assessment under SFAS No. 144.
 The
            partial adoption of SFAS No. 157 on January 1, 2008 with respect to financial
            assets and financial liabilities recognized or disclosed at fair value
            in the
            financial statements on a recurring basis did not have a material impact
            on the
            Company's consolidated financial statements. See Note 12 for the fair
            value
            measurement disclosures for these assets and liabilities. The Company
            is in the
            process of analyzing the potential impact of SFAS No. 157 relating to
            its
            planned January 1, 2009 adoption of the remainder of the standard.
 In
            September 2006, the FASB issued SFAS No. 158 “Employers’ Accounting
            for Defined Benefit Pension and Other Postretirement Plans”, which amends
            SFAS No. 87 “Employers’ Accounting for Pensions”
(SFAS No. 87), SFAS No. 88 “Employers’ Accounting for
            Settlements and Curtailments of Defined Benefit Pension Plans and for
            Termination Benefits” (SFAS No. 88), SFAS No. 106
“Employers’ Accounting for Postretirement Benefits Other Than Pensions”
(SFAS No. 106), and SFAS No. 132R “Employers’ Disclosures
            about Pensions and Other Postretirement Benefits (revised 2003)”
 -
              10 -
 TRANSFER
            TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
            KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
            TO CONDENSED
 CONSOLIDATED
            FINANCIAL STATEMENTS
 JUNE
            30, 2008 AND 2007 (UNAUDITED)
 Note
                      3 - Summary of Significant Accounting Policies (CONTINUED)
 
 Recent
            Accounting Pronouncements (Continued)
 
 (SFAS No. 132R).
            This Statement requires companies to recognize an asset or liability
            for the
            overfunded or underfunded status of their benefit plans in their financial
            statements. SFAS No. 158 also requires the measurement date for plan
            assets and liabilities to coincide with the sponsor’s year end. The standard
            provides two transition alternatives related to the change in measurement
            date
            provisions. The recognition of an asset and liability related to the
            funded
            status provision is effective for fiscal year ending after December 15,
            2006 and the change in measurement date provisions is effective for fiscal
            years
            ending after December 15, 2008.  The Company has no defined
            benefit pension plans at this time and therefore this pronouncement has
            no
            effect on the Company.
 
 On
            January 1, 2008 (the first day of fiscal 2008), the Company adopted SFAS
            No.
            159, "The Fair Value Option for Financial Assets and Financial Liabilities,
            Including an amendment of FASB Statement No. 115" ("SFAS No. 159"). SFAS
            No. 159
            permits entities to choose to measure many financial instruments and
            certain
            other items at fair value, which are not otherwise currently required
            to be
            measured at fair value. Under SFAS No. 159, the decision to measure items
            at
            fair value is made at specified election dates on an instrument-by-instrument
            basis and is irrevocable. Entities electing the fair value option are
            required
            to recognize changes in fair value in earnings and to expense upfront
            costs and
            fees associated with the item for which the fair value option is elected.
            The
            new standard did not impact the Company's Condensed Consolidated Financial
            Statements as the Company did not elect the fair value option for any
            instruments existing as of the adoption date. However, the Company will
            evaluate
            the fair value measurement election with respect to financial instruments
            the
            Company enters into in the future.
 
 Note
            4 – Equipment
 
 Equipment
            is summarized as follows:
 
 Computers
            and
            equipment                                            $2,819
 Less:
            accumulated
            depreciation                                    0
 Computers
            and equipment –
Net                                 $2,819
 
 Depreciation
            expense for the six months ended June 30, 2008 and six months ended June
            30,
            2007 was $0. Equipment was added the last week of June, 2008 and no depreciation
            was taken.
 -
              11 -
 TRANSFER
                TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
                KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
                TO CONDENSED
 CONSOLIDATED
                FINANCIAL STATEMENTS
 JUNE
                30, 2008 AND 2007 (UNAUDITED)
  Note
          5 – Notes Payable
 
 Notes
          payable are summarized as follows as of June 30, 2008:
 AmountNovember
                      2006 - Unsecured
                      promissory note payable to for $5,000 including interest at
                      a fixed rate
                      of 12%. The maturity date is May 2007 at which time all principal
                      and
                      interest are due. Although the note is past maturity and is
                      in default,
                      the Company is accruing interest.
                  
                  $
                  5,000March
                      2007 - Unsecured promissory
                      note payable to for $22,037 including interest at a fixed rate
                      of 10%. The
                      maturity date is March 2008 at which time all principal and
                      interest are
                      due. Although the note is past maturity and is in default,
                      the Company is
                      accruing interest.
                  
                  
                  13,630June
                      2008 -
                      Unsecured  promissory note payable to for $40,000 including
                      interest at a rate of 10%. The maturity date is September 2008
                      at which
                      time all principal and interest are due.
                  
                  
                  40,000May
                      2008 -
                      Unsecured  convertable note payable to for $50,000 including
                      interest at a rate of 5% plus prime adjusted monthly. The maturity
                      date is
                      November 2008 at which time all principal and interest are
                      due.
                  
                  
                  50,000Total
                      notes
                      payable
                  
                  $
                  108,630
  Note
          6 - Stockholders’ Equity
 
 The
            Company had 250,000,000 and 100,000,000 authorized shares of common stock
            as of
            June 30, 2008 and 2007 respectively. The Company had 14,299,165 and 376,451
            shares of common stock issued and outstanding as of June 30, 2008 and
            2007
            respectively. The par value of the shares was $.001 per share. The shares
            have
            been retroactively restated to account for the reverse stock split effective
            December 7, 2007.
 -
              12 -
 
 TRANSFER
            TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
            KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
            TO CONDENSED
 CONSOLIDATED
            FINANCIAL STATEMENTS
 JUNE
            30, 2008 AND 2007 (UNAUDITED)
  Note
            6 – Stockholders’ Equity (CONTINUED)
 
 2007
 
 The
            Board
            of Directors declared a 100 to 1 reverse stock split on December effective
            December 7, 2007.  The number of shares issued and outstanding has
            been reclassified to reflect the 100 to 1 reverse stock split.
 
 2008
  On
            February 7, 2008 the Company issued an aggregate of 3,183,801 shares
            of common
            stock to a total of 23 persons and /or entities. The shares were issued
            in
            exchange for the cancellation of debt, payment of compensation and pursuant
            to
            the conversion of notes. The consideration received by the Company ranged
            from
            the par value of the stock to $0.25 per share, depending on the transaction.
            The
            issuance of the shares was exempt from the registration requirements
            of Section
            5 of the Securities Act of 1933 (the “Act”) pursuant to Section 4(2) of the Act
            since the shares were issued by the Company and did not involve any public
            offering. All share recipients were closely related to and well known
            by the
            Company and no money was raised.
  On
            March
            4, 2008 the Company issued an aggregate of 1,954,785 shares of common
            stock to a
            total of 16 persons and /or entities. The shares were issued in exchange
            for the
            cancellation of debt, payment of compensation and pursuant to the conversion
            of
            notes. The consideration received by the Company ranged from the par
            value of
            the stock to $0.25 per share, depending on the transaction. The issuance
            of the
            shares was exempt from the registration requirements of Section 5 of
            the
            Securities Act of 1933 (the “Act”) pursuant to Section 4(2) of the Act since the
            shares were issued by the Company and did not involve any public offering.
            All
            share recipients were closely related to and well known by the Company
            and no
            money was raised.
 
 On
            May 9,
            2008 the Company issued 34,738 shares of common stock to 1 subscriber,
            who
            subscribed during the first quarter of 2008. This was previously shown
            on the
            balance sheet as “Liability for Stock to be Issued” in the amount of
            $15,750.
 
 During
            the quarter ended June 30, 2008, the Company issued 1,423,124 shares
            of common
            stock for the conversion of notes payable. The common stocks were issued
            at a
            market value of $ .62 per share to $.92 per share. The Company included
            $
            981,737 in beneficial interest expense in its consolidated statement
            of
            operations.
 
 During
            the quarter ended June 30, 2008, the Company issued 98,000 shares of
            common
            stock for directors fees. The common stocks were issued at a market value
            of $
            .45 per share to $.92 per share. The Company included $20,620 in beneficial
            interest income in its consolidated statement of operations.
 
 During
            the quarter ended June 30, 2008, the Company issued 595,416 shares of
            common
            stock for professional fees. The common stocks were issued at a price
            of  per share. The Company included $57,707 in beneficial interest
            expense in its consolidated statement of operations.
 -
              13 -
  TRANSFER
            TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
            KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
            TO CONDENSED
 CONSOLIDATED
            FINANCIAL STATEMENTS
 JUNE
            30, 2008 AND 2007 (UNAUDITED)
 Note
            6 – Stockholders’ Equity (CONTINUED)
  During
            the quarter ended June 30, 2008, the Company issued stock subscribers
            765,319
            shares of common stock. The common stocks were issued at a value of $
            .13 per
            share to $.22 per share.
  During
            the quarter ended June 30, 2008, investors subscribed to 415,000 units
            comprising common stock, A warrants and B warrants in the amount of $81,000.
            This is shown as “Liability for Stock to be Issued” on the June 30, 2008 balance
            sheet in the amount of $81,000. The units are pending
            issuance.
 
 Note
          7 - Stockholders’ Equity
 
 The
          following table summarizes our warrants as of June 30, 2008:
 Year
                Warrant
                    Type
                
                Warrant
                    Shares
                
                Exercise
                    Price
                
                Expiration
                    Date2005
                Broker
                    warrants
                
                50,000
                
                0.5
                
                Dec.
                    20082006
                Broker
                    warrants
                
                50,000
                
                0.5
                
                Mar.
                    20092006
                Broker
                    warrants
                
                300,000
                
                0.045
                
                Apr.
                    20112006
                Warrant
                    exercise
                
                
                
                0.045(300,000)2006
                Broker
                    warrants
                
                294,118
                
                0.085
                
                May
                    20112006
                Warrant
                    exercise
                
                
                
                0.085(294,118)2006
                Class
                    A warrants
                
                2,941,177
                
                0.085
                
                May
                    20112007
                Class
                    A warrants cancelled
                
                
                
                0.085(2,941,177)2006
                Class
                    B warrants
                
                2,941,177
                
                0.085
                
                May
                    20112007
                Class
                    B warrants cancelled
                
                
                
                0.085(2,941,177)Total
                    warrants outstanding
                
                100,000
 
  -
              14 -
 TRANSFER
                TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
                KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
                TO CONDENSED
 CONSOLIDATED
                FINANCIAL STATEMENTS
 JUNE
                30, 2008 AND 2007 (UNAUDITED)
  Note
            8  - Settlement  of  Consulting
            Contract
 
 During
            the year ended December 31, 2007 The Company settled a contract dispute
            in the
            amount of $400,000. The Company paid $50,000 in cash and issued shares
            for the
            remaining $350,000.
 
 
 Note
            9 – Subsequent Events
 
 Investors
            have subscribed to 295,000 units comprising common stock, A warrants
            and B
            warrants in the amount of $69,000 during August, 2008. These units are
            pending
            issuance.
  On
            August 1, 2008, the Company issued an aggregate
            of 666,000 Rule 144 restricted shares of common stock of the Company
            to a total
            of 13 persons and/or entities. The shares were issued as compensation
            to
            directors, compensation pursuant to certain consulting agreements and
            in
            exchange for investment proceeds. The valuation of the consideration
            received by
            the Company ranged from the par value of the stock to $0.25 per share
            depending
            upon the transaction. The issuance of the shares was exempt from the
            registration requirements of Section 5 of the Securities Act of 1933
            (the “Act”)
            pursuant to Section 4(2) of the Act since the shares were issued by the
            Company
            and did not involve any public offering. The share recipients are closely
            related to and well known by the Company. The shares issued are restricted
            shares pursuant to Rule 144 promulgated underthe
            Act.


-
          15 -




Item
      2.                      
Management’s Discussion and
      Analysis of Financial Condition and Results of Operations.




Results
      of Operations





Due
      to
      insufficient progress in prior business operations, approximately eleven months
      ago the Company liquidated its business assets and launched a new business
      plan.  It hired a new CEO with experience in its new
      direction.  The industry in which the Company is now engaged is
      described by the Company as technology transfer.  The Company changed
      its name to Transfer Technology International Corp. to reflect involvement
      in
      this industry.





The
      Company commercializes new or underused technologies through the acquisition
      of
      licenses and through the design of effective commercialization strategies in
      conjunction with business partners who can facilitate market
      penetration.  During the first quarter of 2008, the Company acquired
      patents relating to two technologies. The first is a patented process for
      preventing flash rust on low carbon steel. The second patent is for a product
      that protects citrus groves from citrus canker, a disease that causes millions
      of dollars of crop damage each year.  In addition, the company is currently
      evaluating a third patent for possible acquisition.  The Company is
      now beginning the commercialization process for these acquired
      technologies.  However, as of the date of this filing, a revenue
      stream from these technologies has not commenced.  During the quarter
      ended June 30, 2008, the Company had no revenues from business
      operations.




Capital
      Resources





Current
      business operations have been funded by the sale of equity
      capital.  Even though management believes operating revenues may be
      generated soon through the commercialization of acquired technologies,
      management plans on continuing meeting it cash obligations in the near future
      through the continued sale of its common stock in private placements and through
      a rights offering that will be made to certain of its
      shareholders.  Other sources of capital to the Company include bridge
      financings from shareholders or from persons close to the Company.





Three
      and six month periods ended June 30, 2008





Because
      the Company’s new business direction is different from the business it was
      conducting during the first two fiscal quarters of 2007, comparisons between
      the
      three and six month periods ended June 30, 2008 and the three and six month
      periods ended June 30, 2007, are not helpful.  General operating
      expenses for the three and six month periods ended June 30, 2008, totaled
      $588,746 and 821,564 respectively.  The Company also incurred
      $1,021,039 and $1,293,810 in interest expense during the three and six month
      periods ended June 30, 2008, respectively.  However, the interest
      expense was not paid in cash and was a result of stock being issued at a
      higher fair market value than the amount needed to satisfy a
      debt.  Also, much of the general operating expenses was paid by the
      issuance of stock.





Management
      estimates fixed cash expenditures total approximately $40,000 per month and
      variable monthly cash expenditures average $5,000 to $15,000 per
      month.  Accordingly, going forward, the Company needs approximately
      $150,000 per quarter to stay solvent and to pursue it business
      plan.  As mentioned earlier, these cash needs will be met in the near
      term though the sale of equity capital and eventually through revenues from
      its
      business operations.





Liquidity





As
      of
      August 11, 2008, we had cash on hand of approximately $36,000.  This
      money is from the private sale of capital.  This will meet the cash
      needs of the Company for approximately the next 30 days.  Thereafter
      it will be necessary for us to have been successful in raising addition funds
      through the sale of equity capital or through the commercialization of
      technologies currently owned or acquired by the Company.





-
          16 -


Forward-Looking
      Statements





We
      may
      have made forward-looking statements, within the meaning of Section 21E of
      the
      Securities and Exchange Act of 1934, as amended, and Section 27A of the
      Securities Act of 1933, as amended, in this Quarterly Report on Form 10-Q,
      including the section entitled “Management’s Discussion and Analysis of
      Financial Condition and Results of Operations” that are based on our
      management’s beliefs and assumptions and on information currently available to
      our management.  Forward-looking statements include the information
      concerning our possible or assumed future results of operations, business
      strategies, financing plans, competitive position, industry environment,
      potential growth opportunities and the effects of future regulation and the
      effects of competition.  Forward-looking statements include all
      statements that are not historical facts and can be identified by the use of
      forward-looking terminology such as the words “believe,” “expect,” “anticipate,”
“intend,” “plan,” “estimate” or  similar expressions.





Forward-looking
      statements involve risks, uncertainties and assumptions.  Actual
      results may differ materially from those expressed in the forward-looking
      statements.  You should understand that many important factors, in
      addition to those discussed elsewhere in this Quarterly Report on Form 10-Q,
      could cause our  results to differ materially from those expressed in
      the forward-looking statements.  These factors include, without
      limitation, the rapidly changing industry and regulatory environment, our
      limited operating history, our ability to implement our growth strategy, our
      ability to  integrate acquired companies and  their assets
      and  personnel into our business, our fixed obligations, our
      dependence on new capital to fund  our growth strategy,  our
      ability to attract and retain quality personnel, our competitive environment,
      economic and other conditions in markets in which we operate, increases in
      maintenance costs and insurance premiums and cyclical and seasonal fluctuations
      in our operating results.  The Company, unless legally required,
      undertakes no obligation to update or revise any forward-looking statements,
      whether as a result of new information, future events, or
      otherwise.







Item
                3.
            Quantitative
                and Qualitative
                Disclosures About Market
                Risk.







Market
      risk generally represents the risk that losses may occur in the values of
      financial instruments as a result of movements in interest rates, foreign
      currency exchange rates and commodity prices. We do not have foreign currency
      exchange rate market risk. We do not purchase commodities.  We do not
      currently have any financial instruments susceptible to interest rate
      fluctuations.







Item
                4.
            Controls
                and Procedures.




Disclosure
      Controls and Procedures




We
      conducted an evaluation under the supervision and with the participation of
      our
      management, including our Chief Executive Officer and Chief Financial Officer,
      of the effectiveness of the design and operation of our disclosure controls
      and
      procedures. The term “disclosure controls and procedures,” as defined in Rules
      13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934, as
      amended (“Exchange Act”), means controls and other procedures of a company that
      are designed to ensure that information required to be disclosed by the company
      in the reports it files or submits under the Exchange Act is recorded,
      processed, summarized and reported, within the time periods specified in the
      Securities and Exchange Commission's rules and forms. Disclosure controls and
      procedures also include, without limitation, controls and procedures designed
      to
      ensure that information required to be disclosed by a company in the reports
      that it files or submits under the Exchange Act is accumulated and communicated
      to the company's management, including its principal executive and principal
      financial officers, or persons performing similar functions, as appropriate,
      to
      allow timely decisions regarding required disclosure. Based on this evaluation,
      our Chief Executive Officer and Chief Financial Officer concluded as of June
      30,
      2008 that our disclosure controls and procedures were not effective at the
      reasonable assurance level due to the material weaknesses in our internal
      controls over financial reporting discussed in our Form 10KSB/A filed on July
      30, 2008.  See our Form 10KSB/A for a discussion of our plans to
      remedy the material weakness and bring our controls and procedures into
      effective status.




Changes
      in Internal Control over Financial Reporting




There
      were no significant changes in our internal control over financial reporting
      (as
      such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act)
      identified in management's evaluation during the second quarter of fiscal year
      2008 that have materially affected or are reasonably likely to materially affect
      our internal control over financial reporting.








-
          17 -


PART
      II– OTHER INFORMATION




Item
                1.
            Legal
                Proceedings.




None.







Item
                2.
            Unregistered
                Sales of Equity
                Securities and Use of
                Proceeds.




There
      have been no unregistered sales of
      equity securities during the quarter ended June 30, 2008, that than sales
      previously reported on Forms 8-K.







Item
                3.
            Defaults
                Upon Senior
                Securities.




None.







Item
                4.
            Submission
                of Matters to a Vote of
                Security Holders.




None.








Item
                5.
            Other
                Information.




None.





-
          18 -




Item
                6.
            Exhibits.







31.1
            Certification
                of CEO pursuant to Securities Exchange Act rules 13a-15 and 15d-15(c)
                as
                adopted pursuant to section 302 of the Sarbanes-Oxley act of
                2002.31.2
            Certification
                of CFO pursuant to Securities Exchange Act rules 13a-15 and 15d-15(c)
                as
                adopted pursuant to section 302 of the Sarbanes-Oxley act of
                2002.32.1
            Certification
                of CEO pursuant to 18 U.S.C. section 1350, as adopted pursuant to
                section
                906 of the Sarbanes-Oxley act of 2002.32.2
            Certification
                of CFO pursuant to 18 U.S.C. section 1350, as adopted pursuant to
                section
                906 of the Sarbanes-Oxley act of
                2002.







-
          19 -


SIGNATURES




Pursuant
      to the requirements of the
      Securities Exchange Act of 1934, the registrant has duly caused this report
      to
      be signed on its behalf by the undersigned thereunto duly
      authorized.




Transfer
      Technology International
      Corp.





By:  /s/
      Chris Trina


Chris
      Trina


Chief
      Executive Officer


Date: 
August
      12,
      2008





By:  /s/
      Robert J.
      Calamunci


Robert
      J. Calamunci


Chief
      Financial Officer


Chief
      Accounting Officer


-
          20 -