| **UNITED STATES**SECURITIES AND EXCHANGE    COMMISSION**Washington, D.C. 20549  **FORM 10-KSB  
[X] ANNUAL REPORT UNDER    SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  
For the fiscal year ended    December 31, 2003   
[  ] TRANSITION REPORT    UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period    from _______ to _______  
Commission File Number:    0-32267  **Specialized Services, Inc.
(Name of small business    issuer in its charter)    
Fifth Avenue Acquisition II    Corp.
(Former name of small    business issuer in its charter)  
**Michigan**
**38-2781857**
(State or other jurisdiction    of incorporation)
(IRS Employer Identification    No.)      
**23077    Greenfield Road, Suite 470, Southfield, MI**
**48075**
(Address of    Principal Executive Offices)
(Zip Code)    
(248)    557-1030
(Issuer's    telephone number)    
Securities    registered under Section 12 (b) of the Act: 
**None**
(Title    of class)    
Securities    registered under Section 12(g) of the Exchange Act: 
**Common    Stock, par value $.0001**
(Title    of class)
      
Check    whether the issuer: (i) filed all reports required to be filed by Section 13 or 15(d) of    the Exchange Act during the past 12 months (or for such shorter period that the registrant    was required to file such reports), and (ii) has been subject to the filing requirements    for the past 90 days. Yes [  ] No [ X ]
Check    if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B    contained in this form, and no disclosure will be contained, to the best of the    registrant's knowledge, in definitive proxy or information statements incorporated by    reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB. [** **]
Issuer’s    revenues for its most recent fiscal year: none
As of December 31, 2003 there were 1,000,000    shares of the issuer's Common Stock issued and outstanding. There was no active trading    market in the shares of the Issuer’s common stock at December 31, 2003. Affiliates of    the Issuer owned all shares of the Issuer’s issued and outstanding common stock. No    shares were held by non-affiliates.(*) 
Documents    incorporated by reference:
There    are no documents incorporated by reference in this Annual Report on Form 10-KSB except for    certain previously filed exhibits contained in Registrant's Form 10-SB/12g that became    effective in March 2001, that are identified in Part III, Item 13. 
 

 
**TABLE OF CONTENTS
      
Page
**PART I**
Item 1. Description of Business.2
Item 2. Description of Property.5
Item 3. Legal Proceedings. 5
Item 4. Submission of Matters to a Vote of Security Holders. 6      **PART II
Item 5.  Market for Common Equity and Related Stockholder Matters. 6
Item 6.  Management's Discussion and Analysis or Plan of Operation. 7
Item 7.  Financial Statements. 12
Item 8.  Changes In and Disagreements With Accountants on Accounting and    Financial Disclosure.18        **PART III
Item 9.   Directors, Executive Officers, Promoters and Control Persons;18                 Compliance with Section 16(a) of the Exchange Act.
Item 10. Executive Compensation. 20
Item 11. Security Ownership of Certain Beneficial Owners and Management. 21
Item 12. Certain Relationships and Related Transactions. 21
Item 13. Exhibits and Reports on Form 8-K.22
**PART I**

ITEM 1. DESCRIPTION OF BUSINESS

Fifth Avenue Acquisition II Corp.(the "Company") was incorporated on August 14, 2000 under the laws of the Stateof Florida to engage in any lawful business activity, including, but not limited to,entering into one or more selected agreements and/or plans of merger or acquisitions. TheCompany had been in the developmental stage since inception until it entered into abusiness combination with Specialized Services, Inc. in October 2005 (the"Transaction"). The Company may sometimes be referred to as "we","us", "our" among other such words as may be appropriate.

We filed our Form 10-SB/12gregistration statement in order to become a reporting company under the SecuritiesExchange Act of 1934 (the "Exchange Act") in January 2000, which registrationstatement became effective in March 2001. We are filing our annual reports on Form 10-KSBfor the years ended December 31, 2002, 2003, 2004, 2005, 2006 and 2007, all of whichcontain our audited financial statements for the respective periods. We file these pastdue reports under the Exchange Act in order to become again current in our reportingobligations under the Exchange Act. No material change in our business occurred during therespective periods in which our business objective was to locate and negotiate with athird party a business combination. 

The disclosure contained hereinrefers from time to time to the time period covered under this report, except updateddisclosure regarding our change of address, telephone and principal executive officers. Wemay also make reference to our Form 8-K filed with the SEC on October 5, 2005, whichcurrent report contains disclosure regarding our new business activities.

Business Objective

Following our registrationstatement under the Exchange Act becoming effective, and subject to our limited assets andpersonnel, our management considered pursuit of business opportunities, including thepossibility of entering into a business combination. We did not limit ourselves to aparticular industry. We do not intend nor was it ever our intent to register as abroker-dealer, merge with or acquire a registered broker-dealer, or otherwise become amember of the NASD. 

At the time covereed by thisannual report, we had three officers and directors. See Item 9. Part III. While wereseeking to acquire another business or otherwise pursue a business opportunity, we hadsubstantial flexibility in identifying and selecting a prospective business. As a result,we were entirely dependent on the judgment of our current management in connection withthe selection process. In evaluating a prospective business opportunity, we considered,among other factors, the following: (i) costs associated with effecting a transaction;(ii) equity interest in and opportunity to control the prospective candidate, if any;(iii) growth potential of the candidate; (iv) experience and skill of management andavailability of additional personnel; (v) capital requirements necessary; (vi) theprospective candidate's competitive position; (vii) stage of development of the thebusiness opportunity; (viii) degree of current or potential market acceptance of thebusiness, products or services; (ix) proprietary features and degree of intellectualproperty; (x) the availability of audited financial statements of the any potentialbusiness opportunity; and (xi) the regulatory environment that may be applicable to anyprospective business.

The foregoing criteria are notintended to be exhaustive and any evaluation relating to the merits of any businessopportunity was based, to the extent relevant, on the above factors as well as otherconsiderations deemed relevant by management in connection with effecting a businesscombination. In connection with an evaluation of a prospective or potential businessopportunities, management, with the possible assistance of an independent investmentbanking firm, or third party consultants, conducted a due diligence review.

The time and costs required topursue new business opportunities or to seek to acquire other businesses and theirevaluation, which includes negotiating and documenting relevant agreements and preparingrequisite documents for filing pursuant to applicable securities laws and state "bluesky" and corporation laws, was   ascertained with any degree of certainty. 

Our officers and directorsdevoted an appropriate portion of their time to our affairs and, accordingly, the lengthof time required for the pursuit and negotiations related to any new businessopportunities is uncertain. However, each officer and director will devote such time asthey deem reasonably necessary to carry out our business affairs including our pursuit ofbusiness opportunities necessary to commence operations, although no assurance can be madethat we will be successful in our efforts. 

As a general rule, entering intoa business combination, Federal and state tax laws and regulations have a significantimpact upon the structuring of business combinations. We evaluated the possible taxconsequences of any prospective business combination and endeavored to structure abusiness combination so as to achieve the most favorable tax treatment to us and ourshareholders. There can be no assurance that the Internal Revenue Service or state taxauthorities will ultimately agree with our tax treatment of a potential businesscombination. To the extent the Internal Revenue Service or any relevant state taxauthorities ultimately disagree with our proposed tax treatment and in fact prevail inrecharacterizing the tax treatment of a business combination, there may be adverse taxconsequences to us and our shareholders. Tax considerations as well as other relevantfactors will be evaluated in determining the precise structure of a potential businesscombination, which could be effected through various forms of a merger, consolidation orstock or asset acquisition.

Potential Advantages and Disadvantages ofbeing a Reporting Company

There are certain perceivedadvantages of being a reporting company under the Exchange Act. These are commonly thoughtto include the following:

**-**    enhanced corporate exposure in the financial and investment community;**-** availability of    information required under Rule 144 under the Securities Act of 1933, as amended (the    "Act"), to permit the sale of eligible securities under the Act;**-** enhancing the    Company’s ability to secure debt and/or equity financing from financial institutions    and third parties;
**-**    creating market liquidity for the Company’s securities; and**-** compensation of    key employees, officers, directors and individual consultants through stock options and    stock incentives.
There are also certain perceiveddisadvantages that can result from being a reporting company under the Exchange Act, whichinclude, among others, the following:
- requirement for audited financial    statements on an annual basis which must be filed on a timely basis with the Securities    and Exchange Commission ("SEC");
- required    publication of material and current corporate information;
- required    timely filings with the SEC of annual, quarterly and periodic reports under the Exchange    Act; and- compliance with other rules and    regulations applicable to corporate governance for reporting companies.
Securities Registration underthe Exchange Act of 1934 Does Not Constitute an Initial Public Offering

Our registration statement underthe Exchange Act on Form 10-SB/12g, which became effective involves the registration ofour common stock as class of securities under the Exchange Act. This registration underthe Exchange Act resulted in our obligation to file reports under the Exchange Act,including this annual reports on Form 10-KSB and subsequent quarterly reports on Forms10-QSB, and periodic reports, when required on Forms 8-K. The registration statement onForm 10-SB/12g does not constitute a  registration statement under the Act for aninitial public offering ("IPO"). An IPO, which is declared effective by the SECunder the Act, may provide for the public distribution of securities by a company, and/orissuance and registration for public resale by selling shareholders of such company’ssecurities. However, certain private companies seeking to enter into a Transaction mayfind that a Transaction that involves the registration of a class of securities under theExchange Act, through an effective registration statement on Form 10-SB/12g under theExchange Act, is more attractive than an IPO for various reasons, which may include thefollowing:

- difficulties    in obtaining an underwriter for an IPO at acceptable terms;
- higher costs,    including professional legal and accounting fees, underwriting expenses and other costs    associated with an IPO;
- possible    delays that may occur in the process of preparing, filing and having declared effective by    the SEC an IPO registration statement under the Act;
- potential    dilution in the equity ownership based upon the issuance and sale of securities by an    entity in an IPO; and- dependence upon any    underwriter’s net capital in an amount sufficient to permit an underwriter to give a    firm commitment related to the underwriting of an IPO.
On the other hand, certainprivate companies may find a Transaction that does not include an IPO to be lessattractive than an IPO of their securities. Reasons for this may include, among others,the following:

- no investment    capital being raised for operations from a registration and sale of securities under the    Act;
- no underwriter    to create and hopefully sustain a trading market in the registered securities; and- dependence upon market makers    having no established relationship with the entity, resulting from a Transaction to enter    quotations reflecting the bid and asked price of such public entity’s securities on a    regular basis.
Potential Entities for aBusiness Combination Transaction

Reasons for a private businessentity to be interested in a Transaction with us may include, among others, the following:

- the ability to    use our securities as a reporting company for the future acquisition of assets and/or    other businesses;
- the increased    likelihood of being able to find an underwriter for a subsequent IPO or other offering of    securities under the Act after a Transaction and becoming a reporting company at terms    more acceptable and/or advantageous than would otherwise be available to a private    non-reporting company;- being able to become a     reporting company under the Exchange Act with less dilution of its equity securities;
- the potential    for securing investment capital, whether debt or equity, at terms more favorable than    those available to a private company; and- being able to attract and retain    key employees by having available a stock option and/or stock incentive plan with    securities registered under the Exchange Act.
During the year covered by thisannual report, we had not yet identified any potential target company with which we wouldentertain a business combination transaction, nor have we commenced review orconsideration of any private company for such purpose. However, we expected that anybusiness combination transaction will normally involve the transfer to the target privateoperating company of the majority of our issued and outstanding common stock, and thereplacement of our management including control of the board of directors to personsdesignated by the owners and management of the private company.

No assurances can be given that abusiness combination transaction entered into will be successful. Further, we had nopredetermined plan regarding the nature of the business of any target company nor anyparticular industry in which such target private company may operate.

Our proposed business activitiesdescribed herein means that we are classified under applicable SEC rules as a "blankcheck" company. The SEC and certain states have enacted statutes, rules andregulations limiting the sale of securities of blank check companies. We do not intend toissue or sell additional shares or take steps to cause a market to develop in oursecurities until such time as we shall have successfully concluded a Transaction.Following such a Transaction, it should be expected that we shall no longer be classifiedby the SEC as a blank check company. 

We elected to voluntarily fileour Form 10-SB/12g registration statement with the SEC which requires us to file allreports required under the Exchange Act until a business combination transaction hasoccurred, and we engaged the services of qualified professionals in order to prepare andfile all such reports on a timely basis. 

A business combinationtransaction normally results in a change in control and management of the Company. Weintended that in connection with a business combination transaction to continue to be areporting company under the Exchange Act, and intended to continue to file reports underthe Exchange Act both prior to any following a business combination transaction. However,there can be no assurance that we will be able to continue to remain timely, which will bedependent upon continued funding of the Company and the business, financial conditions andresults of operations of the entity being acquired in a business combination transaction.

Reference is made to our registration statementon Form 10-SB/12g and the discussion under  "RISK FACTORS ASSOCIATED WITH BLANKCHECK COMPANIES"   incorporated herein by reference in Item I, Part I of ourForm-10SB/12g.

ITEM 2. DESCRIPTION OFPROPERTIES.

The Company was useing theoffices of Managment at no cost to the Company. Managment had agreed to continue thisarrangement until the Company completes a business combination. The offices available tothe Company consisted of executive office facilities of approximately 1,000 squarefeet.

ITEM 3. LEGAL PROCEEDINGS

There is no litigation pending or threatened byor against the Company. 

ITEM 4. SUBMISSION OF MATTERS TOA VOTE OF SECURITY HOLDERS.

No matter was submitted duringthe fiscal year covered by this annual report to a vote security holders through thesolicitation of proxies or otherwise.
**PART II**
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY ANDRELATED STOCKHOLDER MATTERS.

(A) Market Price. There was notrading market for the Company's Common Stock at December 31, 2003. There is no assurancethat a trading market will ever develop or, and if such a market does develop, that itwill continue. 

The Securities and ExchangeCommission has adopted Rule 15g-9 which establishes the definition of a "pennystock," for purposes relevant to the Company, as any equity security that has amarket price of less than $5.00 per share or with an exercise price of less than $5.00 pershare, subject to certain exceptions. For any transaction involving a penny stock, unlessexempt, the rules require:
(i) that a broker or dealer approve    a person's account for transactions in penny stocks; and (ii) the broker or dealer receive    from the investor a written agreement to the transaction, setting forth the identity and    quantity of the penny stock to be purchased.In order to approve a person's    account for transactions in penny stocks, the broker or dealer must (i) obtain financial information    and investment experience and objectives of the person; and 
(ii) make a    reasonable determination that the transactions in penny stocks are suitable for that    person and that person has sufficient knowledge and experience in financial matters to be    capable of evaluating the risks of transactions in penny stocks.
The broker or    dealer must also deliver, prior to any transaction in a penny stock, a disclosure schedule    prepared by the Commission relating to the penny stock market, which, in highlight form, 
(i) sets forth    the basis on which the broker or dealer made the suitability determination; and 
(ii) that the    broker or dealer received a signed, written agreement from the investor prior to the    transaction. Disclosure also has to be made about the risks of investing in penny stocks    in both public offerings and in secondary trading, and about commissions payable to both    the broker-dealer and the registered representative, current quotations for the securities    and the rights and remedies available to an investor in cases of fraud in penny stock    transactions. 
(B) Holders. There were threeholders of the Company's Common Stock at December 31, 2003. The issued and outstandingshares of the Company's Common Stock were issued in accordance with the exemptions fromregistration afforded by Section 4(2) of the Act.

(C) Dividends. The Company has not paid anydividends to date, and has no plans to do so in the immediate future.

Recent Sales of UnregisteredSecurities

At December 31, 2003, the Company had soldsecurities, which were not registered as follows:
DateName
Number    of Shares
ConsiderationAugust 20, 2000Thomas J. Craft, Jr.
400,000
$400August 20, 2000Ivo Heiden
200,000
$200August 20, 2000Richard Rubin
400,000
$400
It is the position of the Officeof Small Business of the Securities and Exchange Commission (per No Action Letter, NASDRegulation, Inc., dated January 21, 2000) that Rule 144 is not available for resaletransactions involving securities sold by promoters and affiliates of a blank checkcompany, and their transferees, and anyone else who has been issued securities from ablank check company, and that securities issued by a blank check company to promoters andaffiliates, and their transferees, can only be resold through registration under the Act.

ITEM 6. MANAGEMENT DISCUSSION AND ANALYSIS ANDPLAN OF OPERATIONS

Overview

Our activities were related to seeking newbusiness opportunities. We used our limited personnel and financial resources principallyin connection with the search for new business opportunities. It may be expected thatstarting any new business opportunity will involve the issuance of our shares of CommonStock. To the extent that Common Stock is used to acquire any new business, any availablecash, of which there can be no assurance, will be used to finance such new businessoperations. There was no stock issued from December 31, 2002 through October 2005. AtDecember 31, 2003, we have no cash or other current assets.

During the period of this annualreport, we raised no funds through the sale of securities and we generated no revenues.During the period covered by this annual report, managment had prepared and filed ourreports under the Exchange Act. These filings are intended to permit us to be currentunder the reporting requirements of the Exchange Act. 

We may determine to seek to raisefunds from the sale of equity or debt securities, from bank or other borrowings as part ofany new business opportunity. We may issue a substantial number of additional shares andto the extent that such additional shares are issued, our shareholders will experience adilution in their ownership interest. Additionally, if a substantial number of shares ofCommon Stock are issued in connection with a new business combination, a change in controlof the Company may be expected to occur.

There currently are nolimitations on our ability to borrow funds pursue new business opportunity. However, ourlimited resources may make it difficult to borrow funds. The amount and nature of anyborrowing by us will depend on numerous factors, including the Company's capitalrequirements, potential lenders' evaluation of the Company's ability to meet debt serviceon borrowing and the then prevailing conditions in the financial markets, as well asgeneral economic conditions. The inability of the Company to borrow funds required topursue new business opportunities, or to provide funds for an additional infusion ofcapital, may have a material adverse effect on the Company's financial condition andfuture prospects. To the extent that debt financing ultimately proves to be available, anyborrowing will subject the Company to various risks traditionally associated withindebtedness, including the risks of interest rate fluctuations and insufficiency of cashflow to pay principal and interest. 

Recent Developments

On October 5, 2005 Fifth Avenue Acquisition II Corp. entered into anagreement and plan of merger with Specialized Services, Inc. (SPSV) to exchange 100% ofits shares for 22,000,000 shares of common stock of Fifth Avenue Acquisition II Corp. As aresult, SPSV became the successor reporting company.

ITEM 7. FINANCIAL STATEMENTS

Set forth below are the audited financial statements forthe Company for the period ended December 31, 2003 and 2002. 

FIFTH AVENUE ACQUISITION    II CORP.
(A DEVELOPMENT STAGE    ENTERPRISE)
FINANCIAL STATEMENTS
December 31, 2003
 
REPORT OF    INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMFINANCIAL    STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2003      BALANCE SHEET
4      STATEMENTS OF OPERATIONS
5      STATEMENTS OF STOCKHOLDERS’ EQUITY
6      STATEMENTS OF CASH FLOWS
7      NOTES TO FINANCIAL STATEMENTS 
8**REPORT OF INDEPENDENTREGISTERED PUBLIC ACCOUNTING FIRM

Board of DirectorsFifth Avenue Acquisition II Corp.Southfield, Michigan

We have audited the accompanyingbalance sheet of Fifth Avenue Acquisition II Corp. as of December 31, 2003 and the relatedstatements of operations, stockholders' equity and cash flows for the years ended December31, 2003 and 2002. These financial statements are the responsibility of the Company'smanagement. Our responsibility is to express an opinion on these financial statementsbased on our audit.

We conducted our audits inaccordance with the standards of the Public Company Accounting Oversight Board (UnitedStates). Those standards require that we plan and perform the audits to obtain reasonableassurance about whether the financial statements are free of material misstatement. TheCompany has determined that it is not required to have, nor were we engaged to perform, anaudit of its internal control over financial reporting. Our audit included considerationof internal control over financial reporting as a basis for designing audit proceduresthat are appropriate in the circumstances, but not for the purpose of expressing anopinion on the effectiveness of the Company's internal control over financial reporting.Accordingly, we express no such opinion. An audit includes examining on a test basis,evidence supporting the amounts and disclosures in the financial statements. An audit alsoincludes assessing the accounting principles used and significant estimates made bymanagement, as well as evaluating the overall financial statement presentation. We believethat our audits provide a reasonable basis for our opinion.

In our opinion, the financialstatements referred to above present fairly, in all material respects, the financialposition of Fifth Avenue Acquisition II, Inc. as of December 31, 2003 and 2002, and theresults of its operations and cash flows for the years then ended in conformity with U.S.generally accepted accounting principles.

Maddox Ungar Silberstein, PLLCBingham Farms, MichiganOctober 26, 2007
**FIFTH AVENUE ACQUISITION II CORP.**(A DEVELOPMENT STAGE ENTERPRISE)BALANCE SHEETAS OF DECEMBER 31, 2003
December 31, 2003  **ASSETS      Current    Assets      Cash$
0TOTAL ASSETS
0      **LIABILITIES AND STOCKHOLDERS' EQUITY      LIABILITIES      Accrued Expenses$
0      Due to Related Party
0TOTAL    LIABILITIES
0      STOCKHOLDERS'    EQUITY       Common Stock, $.001 par value, 20,000,000 shares authorized, 1,000,000  issued and    outstanding
1,000      Deficit accumulated during development stage
(1,000)        Total Stockholders' Equity 
0TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$
0  See accompanying notes to financial statements.
**FIFTH AVENUE ACQUISITION II    CORP.**
(A DEVELOPMENT STAGE ENTERPRISE)
STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2003 AND 2002
AND FOR THE PERIOD FROM AUGUST 14, 2000 (DATE OF INCEPTION) TO    DECEMBER 31, 2003  
**August    14, 2000**
**Year    Ended**
**Year    Ended**
**(Inception)    to**
**December 31, 2003**
**December 31, 2002**
**December 31, 2003**  Income from forgiveness of debt
$
-
$
7,643
$
7,643Expenses:   Administrative
-
2,288
8,643     Total    expenses
-
2,288
8,643NET INCOME    (LOSS)
$
-
$
5,355
$
(1,000)   BASIC AND DILUTED NET INCOME    (LOSS) PER SHARE
$
-
$
0.01
$
0.00WEIGHTED AVERAGE COMMON SHARES    OUTSTANDING
1,000,000
1,000,000
1,000,000  See accompanying    notes to financial statements.
**FIFTH AVENUE ACQUISITION II CORP.**
(A    DEVELOPMENT STAGE ENTERPRISE)
STATEMENTS    OF STOCKHOLDERS' EQUITY
FOR THE    YEAR ENDED DECEMBER 31, 2003 AND
FOR THE    PERIOD FROM AUGUST 14, 2000 (DATE OF INCEPTION) TO DECEMBER 31, 2003  
**Common Stock**
**Accumulated    Deficit During Development Stage**
**Total**
Shares
AmountCommon stock issuance
1,000,000
$1,000
$-
$1,000Net loss for the period,    August 14, 2000 (date of incorporation) to December 31, 2000
-
-
(3,523)
(3,523)BALANCE AT DECEMBER 31,    2000
1,000,000
$1,000
$(3,523)
$(3,523)   Net loss    for the year    
(2,832)
(2,832)BALANCE AT DECEMBER 31,    20011,000,000$1,000$(6,355)(5,355)   Net income    for the year          
5,355
5,355BALANCE AT DECEMBER 31, 20021,000,000$1,000$(1,000)(1,000)   Net income for the    year          
-
-BALANCE AT DECEMBER 31,    20031,000,000$1,000$(1,000)(1,000)  See    accompanying notes to financial statements.
**FIFTH AVENUE ACQUISITION II    CORP.**
(A DEVELOPMENT STAGE ENTERPRISE)
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2003 AND 2002
AND FOR THE PERIOD FROM AUGUST 14, 2000 (DATE OF    INCEPTION) TO DECEMBER 31, 2003   
**August    14, 2000**
**Year    Ended**
**Year    Ended**
**(Inception)    to**
**December 31, 2003**
**December 31, 2002**
**December 31, 2003**  CASH FLOWS FROM OPERATING    ACTIVITIES:Net income (loss)
$
-
$
5,355
$
(1,000)  Adjustments to reconcile net    income to cash generated by operating activities:   Income from    forgiveness of debt
-
(7,643)
(7,643)Changes in operating assets and    liabilities:   Increase (decrease)    in accrued expenses and taxes
-
1,286
2,786**Net cash used in    operating activities**
-
(1,002)
(5,857)   CASH FLOWS FROM FINANCING    ACTIVITIES:   Proceeds from the    issuance of common stock
-
-
1,000   Advanced from    related party
-
-
4,857**Net cash provided by    financing activities**
-
-
5,857   INCREASE (DECREASE) IN CASH AND    CASH EQUIVALENTS
-
(1,002)
-   CASH AND CASH EQUIVALENTS,    BEGINNING OF PERIOD
-
1,002
-   CASH AND CASH EQUIVALENTS, END    OF PERIOD
$
-
$
-
$
-   Supplemental Disclosures of Cash    Flow Information:  Taxes Paid
$
-
$
-
$
-  Interest Paid
$
-
$
-
$
-  See accompanying notes to financial statements.
FIFTH AVENUE ACQUISITION II CORP.
(A DEVELOPMENT STAGE ENTERPRISE)
NOTES TO FINANCIAL STATEMENTS
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization and Business Operations

Fifth Avenue Acquisition II Corp. (a development stage enterprise) (the"Company") was incorporated in Florida on August 14, 2000 to serve as a vehicleto effect a merger, exchange of capital stock, asset acquisition or other businesscombination transaction with a domestic entity. As of December 31, 2003, the Company hadnot yet commenced any formal business operations, and all activity to date relates to theCompany's formation and proposed fund raising. The Company's fiscal year end is December31.

The Company's ability to commence operations is contingent upon itsability to identify a prospective target business and the surviving entity’s abilityto secure the capital it will require through the issuance of equity securities, debtsecurities, bank borrowings or a combination thereof.

Use of Estimates

The preparation of the financial statements in conformity with generallyaccepted accounting principles requires management to make estimates and assumptions thataffect the reported amounts of assets and liabilities and disclosure of contingent assetsand liabilities at the date of the financial statements and the reported amounts ofrevenues and expenses during the reporting period. Actual results could differ from thoseestimates.

Fair Value of Financial Instruments 

Financial instruments, including cash, receivables, accounts payable,and notes payable are carried at amounts which reasonably approximate their fair value dueto the short-term nature of these amounts or due to variable rates of interest which areconsistent with market rates. At present, the Company does not have any receivables,accounts payable or notes payable.

Impairment of Long-Lived Assets 

The Company adopted FASB Statement No. 121 (SFAS 121), *"Accountingfor the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of"*.SFAS 121 requires that impairment losses are to be recorded when long-lived assets to beheld and used are reviewed for impairment whenever events or changes in circumstancesindicate that the related carrying amount may not be recoverable. When required,impairment losses on assets to be held and used are recognized based on the fair value ofthe asset. Long-lived assets to be disposed of, if any, are reported at the lower ofcarrying amount or fair value less cost to sell. There have been no material adjustmentsfor impairments of long-lived assets. 

Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers allhighly liquid investments purchased with an original maturity of three months or less tobe cash equivalents.

Income Taxes

The Company accounts for income taxes under the Financial AccountingStandards Board of Financial Accounting Standard No. 109, *"Accounting for IncomeTaxes"* (*"Statement 109"*). Under Statement 109, deferred taxassets and liabilities are recognized for the future tax consequences attributable todifferences between the financial statement carrying amounts of existing assets andliabilities and their respective tax basis. Deferred tax assets and liabilities aremeasured using enacted tax rates expected to apply to taxable income in the years in whichthose temporary differences are expected to be recovered or settled. Under Statement 109,the effect on deferred tax assets and liabilities of a change in tax rates is recognizedin income in the period that includes the enactment date. There were no current ordeferred income tax expense or benefits due to the Company's not having any materialoperations for the period ending December 31, 2003.

Recent Accounting Pronouncements

In 2000, the Company is subject to the provisions of Statement ofFinancial Accounting Standards No. 130 (*"SFAS 130"*), *"ReportingComprehensive Income"* and Statement of Financial Accounting Standards No. 131 (*"SFAS131"*), *"Disclosures about Segments of an Enterprise and RelatedInformation."* Neither statement had any impact on  the Company's financialstatements as the Company does not have any *"comprehensive income"* typeearnings (losses) and its financial statements reflect how the *"key operatingdecisions makers"* view the business. The Company will continue to review thesestatements over time, in particular SFAS 131, to determine if any additional disclosuresare necessary based on evolving circumstances.

NOTE 2 – STOCKHOLDERS’ EQUITY

Common Stock

The Company is authorized to issue 20,000,000 shares of common stock at$0.001 par value. The Companyissued 1,000,000 shares of its common stock to itsshareholders pursuant to the exemption provided under Section 4(2) of the Securities Actof 1933, as amended, for an aggregate consideration of $1,000. 

Preferred Stock

As of December 31, 2003, the Company is authorized to issue 3,000,000shares of preferred stock par $0.001 par value, which may be divided into series and withthe preferences, limitations and relative rights determined by the board of directors. Nopreferred stock has been issued as of the date of this report.

NOTE 3 - STOCK OPTION PLAN

On January 24, 2001, the board of directors authorized a 2001 StockOption Plan. The plan is divided into two separate separate equity programs: the OptionGrant Programs under which eligible persons may, at the discretion of the PlanAdministrator, be granted options to purchase shares of common stock and the StockIssuance Program under which eligible persons may, at the discretion of the PlanAdministrator, be issued shares of common stock directly, either through the immediatepurchase of such shares or as a bonus for services rendered to the Company (or any Parentor Subsidiary). 

NOTE 4 – NET LOSS PER SHARE

We compute net loss per share in accordance with SFAS No. 128 *"Earningsper Share"* (*"SFAS No. 128"*) and SEC Staff Accounting BulletinNo. 98 (*"SAB 98"*). Under the provisions of SFAS No. 128 and SAB 98, basicnet loss per share is computed by dividing the net loss available to common stockholdersfor the period by the weighted average number of common shares outstanding during theperiod. Diluted net loss per share is computed by dividing the net loss for the period bythe number of common and common equivalent shares outstanding during the period. Therewere no common equivalent shares outstanding as of December 31, 2003.

NOTE 5 – AGREEMENT WITH RELATED PARTY

On September 10, 2000, the Company signed an agreement with CR CapitalServices, Inc. (CRCS), a related party. (The principals of CRCS are the Company'sstockholders.) The Agreement calls for CRCS to provide the following services, withoutreimbursement from the Company, until the Company enters into a business combinationtransaction as described in Note 1:

1. Preparation and filing of required documents with the Securities andExchange Commission, including the Form 10-SB registration statement, and the AnnualReport on Form 10-KSB, and Quarterly Reports on Form 10-QSB;

2. Location and review of potential target companies and the preparationand filing of a Form 8-K reporting the transaction;

3. Payment of all professional and accounting fees, and corporate,organizational and other costs incurred by the Companay.

NOTE 6 - SUBSEQUENT EVENT

On October 5, 2005 Fifth Avenue Acquisition II Corp. entered into anagreement and plan of merger with Specialized Services, Inc. (SPSV) to exchange 100% ofits shares for 22,000,000 shares of common stock of Fifth Avenue Acquisition II Corp. As aresult, SPSV became the successor reporting company.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING ANDFINANCIAL DISCLOSURE.

The Company has not changed accountants since its formation and thereare no disagreements with the findings of its accountants.
**PART III**
ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS ANDCONTROL PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

Name
Age
Positions and Offices    Held
Thomas J. Craft, Jr.
35
President
Ivo Heiden
34
Vice President,    Treasurer
Richard Rubin
58
Secretary
Thomas J. Craft, Jr., Esq. served as the Company’spresident, a director, a controlling shareholder and a promoter of the Company since itsorganization in August 2000. Mr. Craft is an attorney practicing law under the laws of theState of Florida. Mr. Craft also served as the corporate secretary, corporate counsel anda director of American Diversified Group, Inc., a public company with headquarters inHickory, NC. From July 1994 to December 1997, Mr. Craft was also counsel, secretary and adirector of Phoenix International Industries, Inc., a development stage public companylocated in West Palm Beach, FL. During the past five years, prior to his present positionswith the Company, Mr. Craft was engaged in the private practice of law in West Palm Beach,FL. In addition, prior to joining the Company, Mr. Craft served as an Intern for UnitedStates Senator, Bob Graham, Florida.

Richard Rubin served as the Company’s corporatesecretary, a director, a controlling shareholder, and promoter of the Company since itsorganization. During the past five years, Mr. Rubin has been engaged in the business ofproviding corporate securities consulting services to public companies. Mr. Rubin servedas a corporate securities consultant to American Diversified Group, Inc. and served in thesame capacity on behalf of Affordable Telecommunications Technology Corporation, a publiccompany with offices in Houston, TX. Mr. Rubin has also provided corporate securitiesservices to Skintek Labs, Inc., a public company with offices in Plantation, FL sinceearly 1999. 

Ivo Heiden has served as the Company’svice-president, a director, a controlling shareholder, and promoter of the Company sinceits organization. Mr. Heiden worked as an analyst for a privately held company in NewYork. Prior to his position with the Company, Mr. Heiden had not held any position withany other public company.

CURRENT BLANK CHECK COMPANIES

At December 31, 2003, management of the Company was notinvolved with any other reporting blank check companies, but mayget involved in creatingadditional reporting, non-operating companies similar to this one. 

CONFLICTS OF INTEREST

The Company's officers and directors organized and mayelect to file registration statements under the Exchange Act on Form 10-SB/12g foradditional companies of a similar nature and with a similar purpose as the Company.Consequently, there are potential inherent conflicts of interest in acting as an officerand director of the Company. In addition, insofar as the Management was engaged in otherbusiness activities, the Management may have devoted only a portion of his time to theCompany's affairs. 

A conflict may arise in the event that other blank checkcompanies with which the Management is affiliated also actively seeks a target company.However, other blank check companies may differ from the Company in certain items such asplace of incorporation, number of shares and shareholders, working capital, types ofauthorized securities, or other items. It may be that a target company may be moresuitable for or may prefer a certain blank check company formed after the Company. In suchcase, a Transaction might be negotiated on behalf of the more suitable or preferred blankcheck company regardless of date of formation. 

Our Management of Messrs. Craft, Heiden and Rubinprovide corporate securities compliance. As such, demands may be placed on the time of theManagement, which will detract from the amount of time the Management is able to devote tothe Company. Our Management intends to devote as much time to the activities of theCompany as required. However, should such a conflict arise, there is no assurance that theManagement would not attend to other matters prior to those of the Company. The Managementestimates that the business plan of the Company can be implemented by devoting anaggregated amount of time of approximately 10 to 15 hours per month over the course ofseveral months but there can be given no assurance to such figure.

Management would not enter into a Transaction, oracquire any assets of any kind for our securities, in which management of the Company orany affiliates or associates have any interest, direct or indirect.

INVESTMENT COMPANY ACT OF 1940

Although we will be subject to regulation under the Actand the Exchange Act, management believes that we will not be subject to regulation underthe Investment Company Act of 1940 insofar as we will not be engaged in the business ofinvesting or trading in securities. In the event we engage in Transactions which result inthe Company holding passive investment interests in a number of entities we could besubject to regulation under the Investment Company Act of 1940. In such event, we would berequired to register as an investment company and could be expected to incur significantregistration and compliance costs. We have obtained no formal determination from theSecurities and Exchange Commission as to the status of the Company under the InvestmentCompany Act of 1940. Any violation of such Act would subject the Company to materialadverse consequences.

Section 16(a) Beneficial Ownership Reporting Compliance.
Name of Officer/Director
Forms FiledThomas J. Craft, Jr.
Form 3Ivo Heiden
Form 3Richard Rubin
Form 3
ITEM 10. EXECUTIVE COMPENSATION.

The Management dir not receive any compensation forserving as the Company’s officers or directors. However, the Management of theCompany anticipates receiving benefits as shareholders of the Company.

No retirement, pension, profit sharing, stock option orinsurance programs or other similar programs had been adopted by the Company for thebenefit of the Management.

 

**Summary Compensation Table**            
Long Term         
Annual Compensation 
Compensation Awards                     Other Restricted    Securities                Annual Stock Underlying    All Other       
Salary 
Bonus Compensation    Award(s) Options Compensation         Name and Principal Position   
Year 
($)
($)
($)
($) 
($)
($)  Thomas    J. Craft, Jr., President     2003 --- --- --- --- --- --- 2002 --- --- --- --- --- --- 2001 --- --- --- --- --- --- Ivo    Heiden, Vice President2003 --- --- --- --- --- --- 2002 --- --- --- --- --- --- 2001 --- --- --- --- --- --- Richard    Rubin, Secretary2003 --- --- --- ---    ---    --- 2002 --- --- --- --- --- --- 2001 --- --- --- --- --- ---   
During 2003, we paid no executive compensation, becausewe lacked the financial resources and because it is not the present intention of theCompany to pay and cash or other executive compensation to its executive officers

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

The following table sets forth each person known by theCompany to be the beneficial owner of five percent or more of the Company's Common Stock,all directors individually and all directors and officers of the Company as a group.Except as noted, each person has sole voting and investment power with respect to theshares shown.
Name and Address of Beneficial    Owner
Amount of    Beneficial Ownership
Percentage of    Class (1)
Thomas J. Craft,    Jr.
400,000 shares
40%11000 Prosperety Farms RoadPalm Beach Gardens, FL 33410Richard Rubin
400,000 shares
40%90 John Street, Suite 626New York, NY 10038Ivo Heiden
200,000 shares
20%90 John Street, Suite 626New York, NY 10038
All Executive    Officers and Directors as a Group (3 People)
1,000,000 shares
100%(1) Based upon 1,000,000 shares of common stock issued
ITEM 12. CERTAIN RELATIONSHIPS AND RELATEDTRANSACTIONS.

The Company issued a total of 1,000,000 shares of CommonStock to the following control persons for a total of $1,000 in cash:

Name
Number    of Total Shares
Consideration
Thomas    J. Craft, Jr.
400,000
$400.00
Ivo    Heiden
200,000
$200.00
Richard    Rubin
400,000
$400.00The Company    relied upon Section 4(2) of the Act.
ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

(A) EXHIBITS

Index to Exhibits.
Exhibit No.Description3(i)By-laws (filed as Exhibit 3(i) to the    Company's Registration Statement on Form 10-SB/12g,  filed on January 26, 2001 and    incorporated herein by reference herein)3(ii)Articles of Incorporation (filed as Exhibit    3(ii) to the Company's Registration Statement on Form 10-SB/12g,  filed on January    26, 2001 and incorporated herein by reference herein)4Specimen Stock Certificate (filed as Exhibit    3(ii) to the Company's Registration Statement on Form 10-SB/12g,  filed on January    26, 2001 and incorporated herein by reference herein)* Incorporated by reference to the    Company's Form 10-SB/12g.
(B) REPORTS ON FORM 8-K

During the year ended December 31, 2003, the Company didnot file any Reports on Form 8-K.

SIGNATURES

Pursuant to the requirements of Section 12 of theSecurities Exchange Act of 1934, the registrant has duly caused this registrationstatement to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: October 29, 2007
Specialized Services, Inc.By: David E. Joseph, CEO and Chairman/s/ David E. Joseph, CEO and Chairman********************** |
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