SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q/A

(Amendment No. 2)

QUARTERLY REPORT UNDER SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the Three Months Ended March 31, 2008

Commission File No. 0-8488

TWENTY SERVICES, INC.

(Exact name of Registrant as specified in its Charter)



|                                                               |  |                         
|-------------------------------------------------------------- |  | ------------------------
|ALABAMA                                                        |  | 63-0372577              
|(State or other jurisdiction of incorporation or organization) |  | (I.R.S. Employer ID No.)
|                                                               | 
|20 Cropwell Drive, Suite 100                                   |  | Pell City, Alabama 35128
|(Address or principal executive offices)                       |  | (City, State, Zip)      

Registrants telephone number, including area code 205-884-7932





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 was required to file such reports), and (2) has been subject to such filing requirements for the past ninety (90) days.

YES  x    NO   ̈

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of accelerated filer and large accelerated filer in Rule 12b-2 of the Exchange Act.

Large accelrated filer   ̈    Accelerated filer   ̈    Non-accelerated filer   ̈    Smaller reporting company  x

(Do not check if a smaller reporting company)

Indicate by
check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)

Yes   ̈    No  x

Indicate the number of shares outstanding of each
of the issuers classes of Common Stock, as of the period of this report.

Par Value $0.10 per share 1,283,068 shares









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EXPLANATORY NOTE

We are amending the cover page for our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008 as originally filed with the Securities and Exchange Commission on May 15, 2008 and amended Form 10-Q/A for March 31, 2008
as filed on August 25, 2008 with the Securities and Exchange Commission, and all future 10-Q filings to comply with the requirements in Release No. 33-8876: Smaller Reporting Company Regulatory Relief and Simplification effective
February 4, 2008. Twenty Services, Inc. is qualified to report as Smaller Reporting Company.



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TWENTY SERVICES, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)



|                                            |  |               |           |   |                  |   |           |  
|------------------------------------------- |  | ------------- | --------- | - | ---------------- | - | --------- | -
|                                            |  | March 31,2008 |           |   | December 31,2007 |  
|ASSETS                                      |  |               |           |   |                  |   |           |  
|Cash and temporary investments              |  | $             | 7,804     |   |                  | $ | 66,369    |  
|Marketable securities                       |  |               | 4,013,387 |   |                  |   | 3,735,395 |  
|Other Assets, Net                           |  |               | 25,984    |   |                  |   | 51,782    |  
|                                            |  |               |           |   |                  |   |           |  
|Total assets                                |  | $             | 4,047,175 |   |                  | $ | 3,853,546 |  
|                                            |  |               |           |   |                  |   |           |  
|LIABILITIES AND STOCKHOLDERS EQUITY        |  |               |           |   |                  |   |           |  
|Liabilities:                                |  |               |           |   |                  |   |           |  
|Accounts payable and accrued expenses       |  | $             | 116,143   |   |                  | $ | 121,848   |  
|Deferred tax liability                      |  |               | 91,352    |   |                  |   | 91,352    |  
|                                            |  |               |           |   |                  |   |           |  
|                                            |  |               | 207,495   |   |                  |   | 213,200   |  
|                                            |  |               |           |   |                  |   |           |  
|Stockholders equity:                       |  |               |           |   |                  |   |           |  
|Preferred stock, Cumulative $0.10 par value |  |               | 50,511    |   |                  |   | 50,511    |  
|Common stock, par value $0.10               |  |               | 128,307   |   |                  |   | 128,307   |  
|Additional paid-in capital                  |  |               | 1,716,074 |   |                  |   | 1,716,074 |  
|Retained earnings                           |  |               | 1,507,645 |   |                  |   | 1,305,471 |  
|Accumulated other comprehensive income      |  |               | 783,910   |   |                  |   | 783,910   |  
|Less investment in Twenty Services Holding  |  |               | (60,000   | ) |                  |   | (60,000   | )
|Treasury Stock                              |  |               | (286,767  | ) |                  |   | (283,927  | )
|                                            |  |               |           |   |                  |   |           |  
|Net stockholders equity                    |  |               | 3,839,680 |   |                  |   | 3,640,346 |  
|                                            |  |               |           |   |                  |   |           |  
|Total liabilities and stockholders equity  |  | $             | 4,047,175 |   |                  | $ | 3,853,546 |  
|                                            |  |               |           |   |                  |   |           |  



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TWENTY SERVICES, INC.

STATEMENT OF OPERATIONS

(Unaudited)



|                                                     |  |                             |           |      |   |          
|---------------------------------------------------- |  | --------------------------- | --------- | ---- | - | ---------
|                                                     |  | Three Months EndedMarch 31,
|                                                     |  | 2008                        |           | 2007
|Revenues                                             |  |                             | 46,380    |      |   | 46,093   
|Expenses:                                            |  |                             |           |      |   |          
|General and Administrative                           |  |                             | 43,226    |      |   | 45,337   
|                                                     |  |                             |           |      |   |          
|Gain from operations and net income                  |  | $                           | 3,154     |      | $ | 756      
|                                                     |  |                             |           |      |   |          
|Weighted average number of common shares outstanding |  |                             | 1,283,068 |      |   | 1,283,068
|                                                     |  |                             |           |      |   |          
|Earnings per share *                                 |  | $                           | 0.00      |      | $ | 0.00     
|                                                     |  |                             |           |      |   |          



|* | After giving effect on a pro-rata basis to anticipated preferred dividends of $0.07 per share per annum on 505,110 shares
|- | -------------------------------------------------------------------------------------------------------------------------



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TWENTY SERVICES, INC.

CONDENSED STATEMENT OF CASH FLOWS

(Unaudited)



|                                                    |  |                             |         |   |      |   |         |  
|--------------------------------------------------- |  | --------------------------- | ------- | - | ---- | - | ------- | -
|                                                    |  | Three Months EndedMarch 31, |        
|                                                    |  | 2008                        |         |   | 2007 |  
|Cash flows from operating activities:               |  |                             |         |   |      |   |         |  
|Interest and dividends received                     |  |                             | 46,380  |   |      |   | 46,093  |  
|Cash paid employees and supplier                    |  |                             | (43,226 | ) |      |   | (43,658 | )
|                                                    |  |                             |         |   |      |   |         |  
|Net cash provided by (used) operating activities    |  |                             | 3,154   |   |      |   | 2,435   |  
|                                                    |  |                             |         |   |      |   |         |  
|Cash flows from investing activities                |  |                             |         |   |      |   |         |  
|Net sale (purchase) of securities                   |  |                             | (58,879 | ) |      |   | (68,358 | )
|Principal collected on loans                        |  |                             |        |   |      |   | 2,142   |  
|Purchase of Treasury Stock                          |  |                             | (2,840  | ) |      |   | (1,071  | )
|                                                    |  |                             |         |   |      |   |         |  
|Net cash provided (used) by investing activities    |  |                             | (61,719 | ) |      |   | (67,287 | )
|                                                    |  |                             |         |   |      |   |         |  
|Net increase (decrease) in cash                     |  |                             | (58,565 | ) |      |   | (69,722 | )
|                                                    |  |                             |         |   |      |   |         |  
|Cash and temporary investments, beginning of period |  |                             | 66,369  |   |      |   | 210,422 |  
|                                                    |  |                             |         |   |      |   |         |  
|Cash and temporary investments, end of period       |  | $                           | 7,804   |   |      | $ | 140,700 |  
|                                                    |  |                             |         |   |      |   |         |  



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MANAGEMENTS DISCUSSION AND ANALYSIS

OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

LIQUIDITY AND CAPITAL RESOURCES

During the three months
ended March 31, 2008 the Registrants liquidity remained stable. The Company has neither notes payable nor long-term debt and does not anticipate the need for borrowing in the near future. The Registrant has sufficient cash and temporary
cash investments to meet its short-term liquidity needs. Should long-term liquidity needs exceed cash and temporary cash investments, then the Registrant would dispose of marketable securities, as it deems appropriate. Current trends and known
demands and commitments do not create a need for liquidity in excess of the Companys current liabilities to generate liquidity.

The Company
anticipates that its operating activities and its investing activities will generate net cash flows and that its financing activities will continue to use cash flows.

RESULTS OF OPERATIONS

The Registrant reported a net income of $3,154 for the three months ended March 31,
2008, as compared to the net income of $756 for the corresponding 2007 period.

REVENUES

Revenues for the three months ended March 31, 2008 of $46,380 were comparable to $46,093 for the corresponding 2007 period.

EXPENSES

General and administrative expenses decreased from $45,337
in 2007 to $43,226 for the corresponding 2008 period.

The above financial statements include all the adjustments, which in the opinion of Management, are
necessary for a fair presentation of such financial information in conformity with generally accepted accounting principles. All adjustments are of a normal recurring nature.



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MANAGEMENTS DISCUSSION AND ANALYSIS

OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

LIQUIDITY AND CAPITAL RESOURCES

During the
three months ended March 31, 2008 the Registrants liquidity remained stable. The Company has neither notes payable nor long-term debt and does not anticipate the need for borrowing in the near future. The Registrant has sufficient cash
and temporary cash investments to meet its short-term liquidity needs. Should long-term liquidity needs exceed cash and temporary cash investments, then the Registrant would dispose of marketable securities, as it deems appropriate. Current trends
and known demands and commitments do not create a need for liquidity in excess of the Companys current liabilities to generate liquidity.

The Company anticipates that its operating activities and its investing activities will generate net cash flows and that its financing activities will continue to use cash flows.

RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS

SFAS No. 157
emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing an asset or liability. As a
basis for considering market participant assumptions in fair value measurements, SFAS No. 157 establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of
the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entitys own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the
hierarchy).

Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to
access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active
markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable
inputs for the asset or liability, which are typically based on an entitys own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from
different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety.
Twentys assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.



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RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS (CONTINUED)

In September 2006, the FASB issued SFAS No. 157, Fair Value Measurement. As discussed above, SFAS No. 157 defines fair value, establishes a framework for
measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements. SFAS No. 157 is effective for the Companys financial assets and liabilities on January 1, 2008. In February 2008,
the FASB reached a conclusion to defer the implementation of the SFAS No. 157 provisions relating to non-financial assets and liabilities until January 1, 2009. The FASB also reached a conclusion to amend SFAS No. 157 to exclude SFAS
No. 13 Accounting for Leases and its related interpretive accounting pronouncements. SFAS No. 157 is not expected to materially affect how the Company determines fair value. We have adopted SFAS No. 157 effective
January 1, 2008 for financial assets and financial liabilities and do not expect this adoption to have a material effect on our consolidated results of operations or financial position but will enhance the level of disclosure for assets and
liabilities recorded at fair value.

FINANCIAL DISCLOSURE AND INTERNAL CONTROLS

Twenty Services, Inc. maintains internal controls over financial reporting, which generally include those controls relating to the preparation of the
consolidated financial statements in conformity with accounting principles generally accepted in the U.S. As a small public company Twenty Services, Inc. is subject to the internal control reporting and attestation requirements under
Section 13(a)-15 and 15(d)-15 of The Securities Exchange Act of 1934.

Twenty Services, Inc. has established processes to ensure
appropriate disclosure controls and procedures are maintained. These controls and procedures as defined by the SEC are generally designed to ensure that financial information required to be disclosed in reports filed with the SEC is reported within
the time periods specified in the SECs rules and regulations, and that such information is communicated to management, including the Chief Executive Officer (CEO) and Chief Financial Officer (CFO) as appropriate, to
allow timely decisions regarding required disclosure.

Twenty Services, Inc.s senior management is involved in the day-to-day
operations of the Company. Managements interaction and monitoring activities evaluate recent internal and external events to determine whether all appropriate disclosures have been made in reports filed with the SEC. The Forms 10-K and 10-Q
are presented to the Board of Directors for approval. financial results and other financial information are also reviewed with the Audit Committee annually.



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FINANCIAL DISCLOSURE AND INTERNAL CONTROLS

As required by applicable regulatory pronouncements, the CEO and CFO review and make various certifications regarding the accuracy of Twenty
Services periodic public reports filed with the SEC, as well as the effectiveness of disclosure controls and procedures and internal controls over financial reporting.

Twenty Services, Inc.s stock is not listed or traded and, therefore, not required to comply with corporate governance listing standards.

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES:

In accordance with Rule 13a-15(b) of the Securities Exchange Act of 1934 (the Exchange Act), as of the end of the period covered by this Annual Report on Form 10-K, the Companys
management evaluated, with the participation of the Companys Chief Executive Officer and Chief Financial Officer, the effectiveness of the design and operation of the Companys disclosure controls and procedures (as defined in
Rule 13a-15(e) under the Exchange Act). Based on their evaluation of these disclosure controls and procedures, the Companys Chief Executive Officer and Chief Financial Officer have concluded that the disclosure controls and procedures
were effective in recording, processing, summarizing and reporting, on a timely basis, information required to be disclosed by the Company in the reports the Company files or submits under the Exchange Act.

MANAGEMENTS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING.

The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in the Exchange Act Rule of 13a-15(f). The Companys internal control
system is designed to provide reasonable assurance to the Company management and the board of directors regarding the preparation and fair presentation of published financial statements. All internal control systems, no matter how well
designed, have inherent limitations. Therefore, even those systems determined effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Also projections of any evaluation of effectiveness to
future periods are subject to risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedure may deteriorate.

The Companys management assessed the effectiveness of the Companys internal control over financial reporting as of March 31, 2008 based
upon criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on the assessment, management determined that we maintained effective internal control over
financial reporting as of March 31, 2008 based on those criteria.

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING

There were no changes in the Companys internal control over financial reporting that occurred during the quarter ended March 31, 2008 that have
materially affected, or are reasonable likely to materially affect, the Company internal control over financial reporting.

RESULTS OF OPERATIONS

The Registrant reported a net income of $3,154 for the three months ended March 31, 2008, as compared to the net income of $756
for the corresponding 2007 period.

REVENUES

Revenues for the three months ended March 31, 2008 of $46,380 were comparable to $46,093 for the corresponding 2007 period.

EXPENSES

General and administrative expenses decreased from $45,337 in 2007 to $43,226 for the corresponding 2008 period.





The above financial statements include all the adjustments, which in the opinion of Management, are necessary for a fair presentation of such financial information in conformity with generally accepted accounting principles. All adjustments
are of a normal recurring nature.



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PART II

OTHER INFORMATION



|Item 1. | Legal Proceedings NONE
|------- | ----------------------



|Item 2. | Changes in Securities NONE
|------- | --------------------------



|Item 3. | Defaults Upon Senior Securities NONE
|------- | ------------------------------------



|Item 4. | Submission of Matters to a Vote of Securities Holders NONE
|------- | ----------------------------------------------------------



|Item 5. | Other Information:
|------- | ------------------

On
February 28, 2008, the Board of Directors of the Registrant declared a cash dividend of SEVEN CENTS ($0.07) PER SHARE, payable March 31, 2008 to holders of record at February 28, 2008 of the Series A-1980, Series a-1981, Series a-1982
and Series A-1985 Preferred Stock, which dividend relates to the year ended December 31, 2007. On March 31, 2008, the dividend so declared was paid in the amount of approximately $31,000.00.



|Item 6. | EXHIBITS AND REPORTS ON FORM 8-K
|------- | --------------------------------

Exhibits:

|     |  |                              
|---- |  | -----------------------------
|31.1 |  | SECTION 302 PEO CERTIFICATION
|31.2 |  | SECTION 302 EVP CERTIFICATION
|32.1 |  | SECTION 906 PEO CERTIFICATION
|32.2 |  | SECTION 906 EVP CERTIFICATION



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TWENTY SERVICES, INC.

SIGNATURES

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



|                      |  |  |  |                                                                 
|--------------------- |  |  |  | ----------------------------------------------------------------
|DATE OCTOBER 15, 2008 |  |  |  | /s/ David J. Noble                                              
|                      |  |  |  | David J. Noble Chairman/Director And Principal Executive Officer
|                      |  | 
|DATE OCTOBER 15, 2008 |  |  |  | /s/ Jack C. Bridges                                             
|                      |  |  |  | Jack C. Bridges Executive
Vice-President