UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
D.C. 20549




FORM
10-Q





(Mark
One)


x
            QUARTERLY
      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934





For the
quarterly period ended: September 30, 2008




o
            TRANSITION
      REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE
  ACT





For the
transition period from ____________ to _____________





Commission
File Number 0-16286





Atlantis
Technology Group


(Exact
name of registrant as specified in its charter)







Nevada
                
                95-4082020(State
      or other jurisdiction of Incorporation or
                  Organization)
                
                (I.R.S.
      Employer Identification
Number)




100 NE
80th Terrace, Miami, Florida 33138


(Address
of principal executive offices)




702-988-1227


(Registrant's
telephone number, including area code)







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





Check
whether the issuer (1) 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
(2) has been subject to such filing requirements for the past 90
days.    Yes  x    No  o





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of “large accelerated filer,” “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act. (Check one):




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





Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act).    Yes  x    No  o





The
number of shares outstanding of the Registrant’s common stock as of September
30, 2008 was 185,165,600.







FORWARD
LOOKING STATEMENTS





Some of
the information presented in this quarterly report constitutes forward-looking
statements within the meaning of the private Securities Litigation Reform Act of
1995. Statements that are not historical facts, including statements about
management's expectations for fiscal year 2008 and beyond, are forward looking
statements and involve various risks and uncertainties. Although the Company
believes that its expectations are based on reasonable assumptions within the
bounds of its knowledge, there can be no assurance that actual results will not
differ materially from the Company's expectations. Factors that could cause the
actual results to differ materially from expectations are discussed in the
Company's Annual Report on Form 10-K and in other filings with the Securities
and Exchange Commission.


2





ATLANTIS
TECHNOLOGY GROUP


CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS


SEPTEMBER
30, 2008 AND 2007








INDEX TO CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS











Page(s)Condensed Consolidated Balance Sheet as of September 30,
      2008(Unaudited) and December 31, 2007
(Audited)
                          4Condensed Consolidated Statements of Operations for the
      nineand three months ended September 30, 2008 (Unaudited) and
      2007(Unaudited)
                          5Condensed Consolidated Statements of Cash Flows the
      ninemonths ended September 30, 2008 (Unaudited)
      and2007
    (Unaudited)
                          6Notes to the Condensed Consolidated Financial
      Statements
                          7






3




ATLANTIS TECHNOLOGY GROUP


CONDENSED
CONSOLIDATED BALANCE SHEET - (UNAUDITED)
 September
30, 2008


September
      30,
                                                      
                                                      
                                                      December
      31,2008
                                                      
                                                      
                                                      2007(Unaudited)
                                                      
                                                      
                                                      (Audited)ASSETSCURRENT
      ASSETSCash
                                                      
                                                      $
                                                      -
                                                      
                                                      
                                                      $
                                                      1,441TOTAL
      ASSETS
                                                      
                                                      $
                                                      -
                                                      
                                                      
                                                      $
                                                      1,441LIABILITIES AND STOCKHOLDERS'
      DEFICITCURRENT
      LIABILITIESAccounts
      payable and accrued expenses
                                                      
                                                      $
                                                      51,940
                                                      
                                                      
                                                      $
                                                      65,840Total
      Liabilities
                                                      
                                                      
                                                      51,940
                                                      
                                                      
                                                      
                                                      65,840STOCKHOLDERS'
      DEFICITPreferred
      stock A, $.001 par value, authorized 1,000,000shares
      at September 30, 2008, no shares issued
                                                      
                                                      
                                                      1,000,000
                                                      
                                                      
                                                      
                                                      -Preferred
      stock B, $.001 par value, authorized 1,000,000shares
      at September 30, 2008, no shares issued
                                                      
                                                      
                                                      1,000,000
                                                      
                                                      
                                                      
                                                      -Common
      stock, $.001 par value, authorized 500,000,000shares
      at September 30, 2008 and Dececember 31, 2007 and
    185,165,600and
      315,165,600 shares issued and outstanding
                                                      
                                                      
                                                      185,166
                                                      
                                                      
                                                      
                                                      315,166Deposit
                                                      
                                                      
                                                      -
                                                      
                                                      
                                                      
                                                      (2,500,000
                                                      )Subscription
      receivable
                                                      
                                                      
                                                      (76,800
                                                      )
                                                      
                                                      
                                                      (79,300
                                                      )Additional
      paid-in capital
                                                      
                                                      
                                                      3,358,180
                                                      
                                                      
                                                      
                                                      5,506,180Accumulated
      deficit
                                                      
                                                      
                                                      (5,518,486
                                                      )
                                                      
                                                      
                                                      (3,306,445
                                                      )Total
      Stockholders' Deficit
                                                      
                                                      
                                                      (51,940
                                                      )
                                                      
                                                      
                                                      (64,399
                                                      )TOTAL
      LIABILITIES AND STOCKHOLDERS' DEFICIT
                                                      
                                                      $
                                                      -
                                                      
                                                      
                                                      $
                                                      1,441








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


4




ATLANTIS TECHNOLOGY GROUP
 CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)








Nine Months ended September
    30,
                                
                                
                                Three Months ended
      September 30,(Restated)
                                
                                
                                
                                
                                
                                (Restated)2008
                                
                                
                                2007
                                
                                
                                2008
                                
                                
                                2007REVENUESales
                                
                                $
                                -
                                
                                
                                $
                                -
                                
                                
                                $
                                -
                                
                                
                                $
                                -Total
      Revenue
                                
                                
                                -
                                
                                
                                
                                -
                                
                                
                                
                                -
                                
                                
                                
                                -COST
      OF SALES
                                
                                
                                -
                                
                                
                                
                                -
                                
                                
                                
                                -
                                
                                
                                
                                -GROSS
      PROFIT
                                
                                
                                -
                                
                                
                                
                                -
                                
                                
                                
                                -
                                
                                
                                
                                -OPERATING
      EXPENSESCompensation
      and Consulting
                                
                                
                                2,220,000
                                
                                
                                
                                421,509
                                
                                
                                
                                -
                                
                                
                                
                                360,000Professional
      fees and other
                                
                                
                                (7,959
                                )
                                
                                
                                100,867
                                
                                
                                
                                (66,296
                                )
                                
                                
                                35,468General
      and administrative expenses
                                
                                
                                -
                                
                                
                                
                                93,359
                                
                                
                                
                                -
                                
                                
                                
                                1,561Total
      Operating Expenses
                                
                                
                                2,212,041
                                
                                
                                
                                615,735
                                
                                
                                
                                (66,296
                                )
                                
                                
                                397,029NET
      LOSS BEFORE PROVISION FOR INCOME TAXES
                                
                                
                                (2,212,041
                                )
                                
                                
                                (615,735
                                )
                                
                                
                                66,296
                                
                                
                                
                                (397,029
                                )Provision
      for income taxes
                                
                                
                                -
                                
                                
                                
                                -
                                
                                
                                
                                -
                                
                                
                                
                                -NET
      LOSS APPLICABLE TO COMMON SHARES
                                
                                $
                                (2,212,041
                                )
                                
                                $
                                (615,735
                                )
                                
                                $
                                66,296
                                
                                
                                $
                                (397,029
                                )NET
      LOSS PER BASIC AND DILUTED SHARES
                                
                                $
                                (0.01
                                )
                                
                                $
                                (0.01
                                )
                                
                                $
                                0.00
                                
                                
                                $
                                (0.00
                                )WEIGHTED
      AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
                                
                                
                                276,351,731
                                
                                
                                
                                58,027,148
                                
                                
                                
                                185,165,600
                                
                                
                                
                                83,119,068











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




5




ATLANTIS TECHNOLOGY GROUP


CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS - (UNAUDITED)


Nine Months Ended(Restated)September 30,
                                            
                                            
                                            September 30,2008
                                            
                                            
                                            2007CASH
      FLOW FROM OPERATING ACTIVITIESNet
      Loss
                                            
                                            $
                                            (2,212,041
                                            )
                                            
                                            $
                                            (615,735
                                            )Adjustments to reconcile net income (loss) to
      net cash (used
      in) operating activities:Issuance
      of common stock for compensation
                                            
                                            
                                            22,000
                                            
                                            
                                            
                                            360,000Issuance
      of preferred stock for compensation
                                            
                                            
                                            2,200,000
                                            
                                            
                                            
                                            -Changes
      in assets and liabilities:Increase
      (Decrease) in accounts payable and other accrued payables
                                            
                                            
                                            (13,900
                                            )
                                            
                                            
                                            (3,112
                                            )Net
      cash (used in) operating activities
                                            
                                            
                                            (3,941
                                            )
                                            
                                            
                                            (258,847
                                            )CASH
      FLOWS FROM FINANCING ACTIVITIES:Stock
      issued for cash - net
                                            
                                            
                                            2,500
                                            
                                            
                                            
                                            253,302Net
      cash provided by financing activities
                                            
                                            
                                            2,500
                                            
                                            
                                            
                                            253,302Net
      Increase (decrease) in cash  for the period
                                            
                                            
                                            (1,441
                                            )
                                            
                                            
                                            (5,545
                                            )Cash
      beginning of period
                                            
                                            
                                            1,441
                                            
                                            
                                            
                                            5,939Cash
      end of the period
                                            
                                            $
                                            -
                                            
                                            
                                            $
                                            394SUPPLEMENTAL
      DISCLOSURE OF CASH FLOW INFORMATION:Interest
      expense
                                            
                                            $
                                            -
                                            
                                            
                                            $
                                            -Income
      taxes paid
                                            
                                            $
                                            -
                                            
                                            
                                            $
                                            -





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




6
 ATLANTIS
TECHNOLOGY GROUP
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 SEPTEMBER
30, 2008 AND 2007





NOTE 1- ORGANIZATION AND
BUSINESS





The
condensed unaudited interim financial statements included herein have been
prepared by Atlantis Technology Group (the “Company”), pursuant to the rules and
regulations of the Securities and Exchange Commission.  The condensed
financial statements and notes are presented as permitted on Form 10-QSB and do
not contain information included in the Company’s annual consolidated statements
and notes.  For further information, these financial statements and
related notes should be read in conjunction with the Company’s audited financial
statements for the period ended December 31, 2007 and the accompanying notes
thereto.  Certain information and footnote disclosures normally
included in financial statements prepared in accordance with accounting
principles generally accepted in the United States of America have been
condensed or omitted pursuant to such rules and regulations, although the
Company believes that the disclosures are adequate to make information presented
not misleading.  The result of the nine months ended September 30,
2008 and 2007 may not be indicative of the results for the entire
year.





These
condensed unaudited financial statements reflect all adjustments, consisting of
normal recurring adjustments, which in the opinion of management are necessary
for the fair presentation of the information contained herein.




The
Company was incorporated in the State of Delaware in December 1986 as Vision
Technology International. They changed their name in 1992 to Medplus Corporation
and in August 2003, changed its name to Atlantis Business Development
Corporation. The Company had operated in the health care financing industry. The
Company ceased all operations in 1998 and has little or no viable operations
since that date. On October 11, 2007, the Company changed its name to Atlantis
Technology Group.




On April
20, 2003, the Company's Board of Directors voted to be regulated as a Business
Development Company (“BDC”) pursuant to Section 54 of the Investment Company Act
of 1940. A Business Development Company is an investment company designed to
assist eligible portfolio companies with capital information. The decision to
become a Business Development Company was made primarily to better reflect the
Company's anticipated future business and developing relationships.




7
 ATLANTIS
TECHNOLOGY GROUP
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 SEPTEMBER
30, 2008 AND 2007





NOTE 1-ORGANIZATION
AND BUSINESS (CONTINUED)




The
Company elected to withdraw its status as BDC on September 10,
2007.




In
January 2005, the Company merged with a Nevada corporation and remained the
surviving corporation with a Nevada domicile.




On June
1, 2007, the Company participated in a phone call with the SEC, primarily
related to its operations as a BDC and its compliance with the requirements
thereto.  In response to the SEC’s phone call, the Company conducted a
review of its compliance with the 1940 Act and determined that it was not in
compliance with the 1940 Act.  While the Company believed the BDC
model was the right structure for it at the time that it elected such status, it
has determined that, going forward, it should, consistent with its current
balance sheet and structure, withdraw its election to be regulated as a BDC. The
company withdrew it’s status as a BDC in September 2007.





As a
result of determining that the Company should withdraw its election to be a
regulated BDC, the Company on June 29, 2007 filed a form 14A proxy statement,
and on August 16, 2007 an Amended 14A:





1.
            To
      elect all members of the Board of
Directors.





2.
            To
      approve Bagell, Josephs, Levine and Company, LLC as the Company’s
      independent auditors for the coming
year.





3.
            To
      approve granting the Board of Directors the authority to elect , at the
      Board’s discretion, to withdraw the Company’s election to be regulated as
      a Business Development Company under Section 54 of the Investment Company
      Act of 1940.





4.
            To
      transact such other business as may properly come before the Special
      Meeting and any adjournment or postponement
  thereof.





This
special meeting was held September 10, 2007 at the Company’s corporate offices
in Colorado.





8
 ATLANTIS
TECHNOLOGY GROUP
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 SEPTEMBER
30, 2008 AND 2007





NOTE
1- ORGANIZATION AND
BUSINESS (CONTINUED)





The
withdrawal of the Company’s election to be regulated as a BDC under the 1940 Act
will result in a significant change in the Company‘s required method of
accounting.  BDC financial statement presentation and accounting
utilizes the value method of accounting used by investment companies, which
allows BDC’s to recognize their income and value their investments at market
value as opposed to historical cost.  In addition, majority-owned
subsidiaries are not consolidated; rather, investments in those subsidiaries are
reflected on the balance sheet as an investment in a majority-owned portfolio
company at fair value. The election to withdraw was approved.





In
reviewing its compliance procedures the Company determined that it never
appointed a Chief Compliance Officer.  In the absence of an active
Chief Compliance Officer, there can be no assurance that the compliance rules of
the 1940 Act were not violated.





Specifically,
the Company determined that it had, among other things: failed to adequately
disclose the process of valuing its portfolio securities in 2004 and 2005;
issued shares for services and compensation provided to the Company; failed to
have a majority of directors that were not interested persons of the Company;
conducted transactions with certain affiliates or a related party; and neglected
to adopt compliance policies and procedures.





The
Company acknowledges that they have not been presenting their financial
statements in accordance with the Act of 1940.  Specifically, the
Company had been recording the activity in 2004 and 2005 of its wholly owned
subsidiaries in a consolidated format. There have been no other operating
subsidiaries in the Company since September 2005.





The
fundamental nature of the BDC is to invest in a portfolio of securities, with
the goal of achieving gains on appreciation and dividend income, not that of
ownership and management of an operating business, with the goal of generating
income from the operations of those businesses.





The
Company filed an 8K on June 28, 2007 stating that the Board of Directors
determined, based on a recommendation of its independent auditors, that its
financial statements for the period ended December 31, 2006, 2005 and 2004 will
need to be restated.  The Company’s Board of Directors has determined
that certain of its disclosures and treatment of certain accounting transactions
were not sufficient to comply with auditing and reporting standards under the
Investment Company Act of 1940.


9
 ATLANTIS
TECHNOLOGY GROUP
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 SEPTEMBER
30, 2008 AND 2007





NOTE
1- ORGANIZATION
AND BUSINESS (CONTINUED)





The Board
reviewed the facts surrounding these compliance failures and their implications
for the Company.  Ultimately, the Board caused the Company to take
certain steps to remediate the compliance failures as follows:





1.
            Rescinded
      and cancelled common stock shares issued for services, compensation and
      transactions with related parties. (See Note 4).  The majority
      of the shares issued for the above were cancelled going back to June
      2004.





2.
            Restating
      its financial statements.





3.
            Filed
      a proxy to withdraw from a BDC status. The election was approved September
      10, 2007.





The
Company has informed the SEC Staff of these steps.  However, these
efforts may not fully cure all of the 1940 Act compliance deficiencies currently
affecting the Company and it is unclear how those deficiencies will impact the
Company in the future.  The Company’s significant compliance and
remediation costs, in terms of both time and dollars, have operated as an
encumbrance on the Company’s resources.




The
Company’s violations of the 1940 Act may cause the Company to incur certain
liabilities. Such liabilities cannot be estimated by management as of this time,
but may include regulatory enforcement actions.  However, such
liabilities, if incurred, could have a significant impact on the Company’s
ability to continue as a going concern.




The
Company made an offer of settlement with The Securities and Exchange Commission
in February 2008(see note 9).




10
 ATLANTIS
TECHNOLOGY GROUP
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 SEPTEMBER
30, 2008 AND 2007





NOTE
2- SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES




Use of
Estimates





The
preparation of financial statement 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 highly liquid debt instruments and other short-term
investments with an initial maturity of three months or less to be cash or cash
equivalents.





At
September 30, 2008, The Company maintained cash and cash equivalent balances at
a financial institution that is insured by the Federal Deposit Insurance
Corporation, whose amounts do not exceed the insured limit of
$100,000.





Fair Value of Financial
Instruments





The
carrying amounts reported in the balance sheet for cash and accrued expenses
approximate fair value because of the immediate or short-term maturity of these
financial statements.





Investments –
Valuation





The
Company values its investments at fair value.  The Company’s only
investment is a percentage of a private company. The Company determines fair
value to be the amount for which an investment could be exchanged in an orderly
disposition over a reasonable period of time between willing parties other than
in a forced on liquidation sale. At September 30, 2008 and 2007 the Company held
34% ownership of a private start up company. The fair market value as determined
by the Board of Directors to be zero.


11
 ATLANTIS
TECHNOLOGY GROUP
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 SEPTEMBER
30, 2008 AND 2007




NOTE
2- SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES (CONTINUED)








Income
Taxes





The
Company has adopted the provisions of Financial Accounting Standards Board
Statement No. 109, Accounting for Income Taxes. The Company accounts for income
taxes pursuant to the provisions of the Financial Accounting Standards Board
Statement No. 109, Accounting for Income Taxes, which requires an asset and
liability approach to calculating deferred income taxes. The asset and liability
approach requires the recognition of deferred tax liabilities and assets for the
expected future tax consequences of temporary differences between the carrying
amounts and the tax basis of assets and liabilities.





Principles of
Consolidation





The
condensed consolidated financial statements include the accounts of the Company
and its subsidiaries. All material intercompany transactions have been
eliminated in consolidation.





The
Company has the following inactive subsidiaries:





1.
            Atlantis
      Media Group


2.
              Atlantis
      Communications Group


3.
              Atlantis
      Energy Corporation





12
 ATLANTIS
TECHNOLOGY GROUP
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 SEPTEMBER
30, 2008 AND 2007




NOTE 2-SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES (CONTINUED)


Earnings (loss) per Common
Share





Basic
earnings (loss) per share is calculated by dividing net income attributable to
common stockholders by the weighted average number of outstanding common shares
during the year.  Basic earnings per share exclude any dilutive effects of
options, warrants and other stock-based compensation, which are included in
diluted earnings per share. There are no common stock equivalents
outstanding.





The
following is a reconciliation of the computation for basic and diluted EPS for
the periods ended September 30, 2008 and 2007:








2008
                              
                              
                              2007Net
      Loss
                              
                              $
                              (2,212,041
                              )
                              
                              $
                              (615,735
                              )Weighted
      average common sharesoutstanding (Basic)
                              
                              
                              276,351,731
                              
                              
                              
                              58,027,148Weighted
      average common stock equivalentsStock
      Options
                              
                              
                              -
                              
                              
                              
                              -Warrants
                              
                              
                              -
                              
                              
                              
                              -Weighted
      average common sharesoutstanding (Diluted)
                              
                              
                              276,351,731
                              
                              
                              
                              58,027,148




13
 ATLANTIS
TECHNOLOGY GROUP
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 SEPTEMBER
30, 2008 AND 2007




NOTE 2-SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES (CONTINUED)


Reclassifications




Certain
amounts for the nine months ended September 30, 2007 have been reclassified to
conform to the presentation of the September 30, 2008 amounts. The
reclassifications have no effect on the net loss for the period ended September
30, 2008.





NOTE
3- INVESTMENTS





The
Company in September 2006 incorporated a Nevada wholly owned subsidiary named
Eftas Inc.  The Company on or about April 12, 2007 transferred 66% of
the company to an unrelated company. Since it could not finish the project, the
Company felt that retaining a 34% ownership was more beneficial to its
shareholders as they didn’t have the resources to develop the
company.  EFTAS (Employment for the Annual Services) is a company
dedicated to assist military personnel seeks jobs through an electronic
website.





List
of Investments





Eftas,
      Inc.
                        
                        Common
      shares held
                        
                        
                        Percentage
                          Owned
                        
                        Cost
                        
                        Fair
      Value23,800,000
                        
                        
                        
                        34
                        %
                        Internally
                        
                        $
                        -0-developedbeforetransfer







NOTE
4- STOCKHOLDERS'
(DEFICIT)




On
October 11, 2007 the Company has authorized the creation of Series A and Series
B preferred stock, designate and irrevocably reserve one million of the
Company’s total authorized capital for both, with a par value of $.001.Each
share is convertible to 1,000 shares of common stock.




On
September 30, 2008 and December 31, 2007 the Company has 500,000,000 shares of
common stock authorized at a par value of $.001, and 185,165,600and 315,165,600 shares
issued and outstanding, respectively.




14
 ATLANTIS
TECHNOLOGY GROUP
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 SEPTEMBER
30, 2008 AND 2007




NOTE
4- STOCKHOLDERS'
(DEFICIT) (CONTINUED)




Stock Transactions for the
nine months ended September 30, 2007





In the
1st quarter, the Company issued 28,680,000 retroactively restated shares of its
stock for cash totaling $137,085.





In the
2nd quarter, the Company issued 52,000,000 retroactively restated shares of its
stock for cash totaling $91,038.





Stock splits for
2007





The Board
of Directors on May 29, 2007 voted to effectuate a 100 to1 reverse stock
split.





The Board
of Directors on October 23, 2007 voted to effectuate a 1 to 100 forward stock
split.





The Board
of Directors on November 28, 2007 voted to effectuate a 1 to 3 forward stock
split.





Stock Transactions for the
nine months ended September 30, 2008





There
were no stock issuances for the three months ended March 31, 2008.





In April
2008 the Company issued 10,000,000 shares for compensation.  The value
was $30,000.





In May
2008 the Company issued 15,000,000 shares for compensation.  The value
was $39,000.





In June
2008 the Company cancelled 5,000,000 shares for compensation.  The
value was $47,000.





In June
2008 the Company cancelled 150,000,000 shares for deposit on new Business
Ventures valued at $2,500,000.


15
 ATLANTIS
TECHNOLOGY GROUP
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 SEPTEMBER
30, 2008 AND 2007


NOTE
4- STOCKHOLDERS'
(DEFICIT) (CONTINUED)




Stock Transactions for the
nine months ended September 30, 2008 (Continued)





In June
2008 the company issued Preferred A Stock 1,000,000 shares for compensation. The
value was $1,100,000.





In June
2008 the company issued Preferred B Stock 1,000,000 shares for compensation. The
value was $1,100,000.





The
following transactions were rescinded and the stock cancelled accordingly in
August 2007. The financial statements have been retroactively restated to
reflect the cancellations of those transactions.





2004


In June
2004, the Company issued 5,700 retroactively restated shares to an officer for
the purchase of a related company.  The value was
$3,970,000





In
November 2004 the Company issued 15,000 retroactively restated shares to an
officer for compensation.  The value was $575,000.





2005


In March
2005 the Company issued 20,000 retroactively restated shares to an officer in a
related party transaction acquiring equipment.  The value was
$700,000.





2006


In
January 2006 shares were issued to a director and for an acquisition that did
not occur. There were 20,500 retroactively restated shares at a value of
$1,520,500.





In August
2006 the Company issued 90,000 retroactively restated shares to an officer for
compensation.  The value was $2,370,000.





There may
be other shares that the Company is attempting to recover from previous
issuances.


16
 ATLANTIS
TECHNOLOGY GROUP
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 SEPTEMBER
30, 2008 AND 2007


NOTE
5- STOCK ISSUANCE
FOR DEPOSITS




The
Company issued 150,000,000 retroactively restated shares for a deposit on new
Business Ventures valued at $2,500,000.The stock has been returned and cancelled
as of June 30, 2008.





NOTE
6- PROVISION FOR
INCOME TAXES




The
Company did not provide for income taxes for the nine months ended September 30,
2008 and the year ended December 31, 2007. Additionally, the Company established
a valuation allowance equal to the full amount of the deferred tax assets due to
the uncertainty of the utilization of the operating losses in future
periods.




At
September 30, 2008 and December 31, 2007 the deferred tax assets consists of the
following:




2008
                            
                            
                            2007Deferred
      taxes due to net effects of operating loss
      carryforwards
                            
                            $
                            1,656,000
                            
                            
                            $
                            993,000Less:
      Valuation Allowance
                            
                            
                            (1,656,000
                            )
                            
                            
                            (993,000
                            )Net
      deferred tax asset
                            
                            $
                            -
                            
                            
                            $
                            -




At
September 30, 2008 and December 31, 2007, the Company had federal net operating
loss carryforwards in the approximate amounts of $5,520,000 and $3,310,000
available to offset future taxable income. The Company established valuation
allowances equal to the full amount of the deferred tax assets due to the
uncertainty of the utilization of the operating losses in future
periods.


17
 ATLANTIS
TECHNOLOGY GROUP
 NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 SEPTEMBER
30, 2008 AND 2007


NOTE
7- GOING
CONCERN





As
reflected in the financial statements, the Company had no investment income as a
BDC and operations since withdrawal of a BDC in September, 2007 and is subject
to certain contingencies as discussed in Notes 1 and 8 which could have a
material impact on the Companies financial condition and
operations.





The
ability of the Company to continue as a going concern is dependent on the
Company’s ability to raise capital and going forward, generate revenues and cash
flow.  The Company withdrew as a BDC and will not be raising money
through Form 1-E.  The financial statements included in this report do
not include any adjustments that might be necessary if the Company is unable to
continue as a going concern.





The time
required for the Company to become profitable is highly uncertain, and we cannot
assure that we will achieve or sustain profitability or generate sufficient cash
flow from operations to execute a new business plan.  If required, our
ability to obtain additional financing from other sources also depends on many
factors beyond our control, including the state of the capital markets and the
prospects for our business.  The necessary additional financing may
not be available to us or may be available only on terms that would result in
further dilution to the current owners of our common stock.





NOTE
8- CONTINGENCY
AND UNCERTAINTIES





The
withdrawal of the Company’s election to be regulated as a BDC under the 1940 Act
will result in a significant change in the Company‘s required method of
accounting.  BDC financial statement presentation and accounting
utilizes the value method of accounting used by investment companies, which
allows BDCs to recognize income and value their investments at market value as
opposed to historical cost.  In addition, majority-owned subsidiaries
are not consolidated. The Company accounts for these subsidiaries as investments
on the balance sheet at fair value. The Company may face certain contingent
liabilities as a result of potential actions by the SEC or others against the
Company.  As of the date of this report, management could not
reasonable estimate such contingent liabilities, if any.   The
outcome of the above matter could have a significant impact on our ability to
continue as a going concern. The Company withdrew as a BDC on September 10,
2007.





* The
Company made an offer of settlement with SEC (see note 9).




18


ATLANTIS
TECHNOLOGY GROUP


NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


SEPTEMBER
30, 2008 AND 2007







NOTE
9- SETTLEMENT
OFFER





On
February 11, 2008 The Company executed and submitted pursuant to Rule 240(a) of
the Rules of Practice of the Securities and Exchange Commission (‘Commission”)
[17 C.F.R § 201.240(a)] an Offer of settlement (“Offer”) in anticipation of
public administrative and cease-and –desist proceedings to be instituted against
it by the Commission, pursuant to Section 8A of the Securities Act of 1933
(“Securities Act”) and Section 9(f) of the Investment Company act of 1940
(“Investment Securities Act”).





The
Company is still waiting for the offer to be calendared by the SEC.





In
determination to accept the Offer, the Commission has considered remedial acts
promptly undertaken by the Company and cooperation afforded the Commission
staff.





The
Company consented to the entry of an Order by the Commission imposing the
following sanctions pursuant to Section 8A pursuant to Section 8A of the
Securities Act, Section 9(f) of the Investment Company act and Rule 610(c) of
Regulation E:





A.
            Atlantis
      shall cease and desist from committing or causing any violations and any
      future violations of section 17(g), 18(d), 23(a), 34(b), and 56(a) of the
      Investment Company Act and Rules 17g-1 and 38a-1
    thereunder.


B.
              The
      regulation E exemption as to Atlantis be, and hereby is, permanently
      suspended.





The
settlement was calendared then signed by the commission of the SEC on September
30, 2008.





NOTE
10- RESTATEMENT
OF FINANCIAL STATEMENTS





The
Company has restated its financial statements for the nine months ended
September 30, 2007. The Company did not reflect the proper reporting for a
Business Development Company pursuant to section 54 of the Investment Company
Act of 1940. The Company is restating its financial statements to comply with
those reporting requirements. Moreover, there were transactions that were
rescinded by canceling common stock for all periods shown in these statements.
The financial statements have been retroactively restated to remove the
cancelled transactions.


19


ATLANTIS
TECHNOLOGY GROUP


NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


SEPTEMBER
30, 2008 AND 2007






NOTE
10- RESTATEMENT
OF FINANCIAL STATEMENTS (CONTINUED)





For
      9/30/07
                            
                            Originally
      Filed
                            
                            
                            RestatedFor
      the quarter
                            
                            
                            For
      the quarterended
                            
                            
                            endedSeptember
      30, 2007
                            
                            
                            September
      30, 2007Assets
                            
                            $
                            394
                            
                            
                            $
                            394Liabilities
                            
                            
                            15,000
                            
                            
                            
                            15,000Stockholders'  Equity
                            
                            
                            (14,606
                            )
                            
                            
                            (14,606
                            )Total
      Liabilities and Stockholders'  Equity
                            
                            $
                            394
                            
                            
                            $
                            394
 
 Originally
      Filed
                                    
                                    
                                    RestatedFor
      the quarter
                                    
                                    
                                    For
      the quarterended
                                    
                                    
                                    endedSeptember
      30, 2007
                                    
                                    
                                    September
      30, 2007OPERATING
      EXPENSES:
                                    
                                    $
                                    679,082
                                    
                                    
                                    $
                                    615,735(LOSS)
      FROM  OPERATIONS
                                    
                                    
                                    (679,082
                                    )
                                    
                                    
                                    (615,735
                                    )NET
      (LOSS)
                                    
                                    $
                                    (679,082
                                    )
                                    
                                    $
                                    (615,735
                                    )Net
      loss per share, basic and diluted
                                    
                                    $
                                    (2.73
                                    )
                                    
                                    $
                                    (0.01
                                    )Weighted
      average number of shares outstanding,basic
      and diluted
                                    
                                    
                                    248,975
                                    
                                    
                                    
                                    58,027,148
  20
  ITEM 2.  Management's Discussion And
Analysis Of Financial Condition And Results Of
Operations





OVERVIEW





Atlantis
Technology Group (the “Company” or “we”) was initially incorporated as Vision
Technology International in Delaware in December 1986 and changed its name to
Medplus Corporation in 1992. In 2003, it changed its name to Atlantis Business
Development Corporation. The Company is a reporting, publicly traded company
that trades on the OTC Bulletin Board under the symbol ATNO. In late 1992, the
Company's primary business was patient financing through the Company's
acquisition of Patient Plus, Lincoln Professional Services Corporation and
Financial Health Network. In May 1998, the Company drastically reduced its
patient finance operations and went into a minimum business operation mode
seeking additional business opportunities. The company has had only nominal
operations since that time. During fiscal year 2003, Medplus relocated its
headquarters from Colorado Springs, Colorado to an office in Red Bank, New
Jersey. During fiscal year 2004 the Company moved its headquarters to Miami,
Florida.





As
previously disclosed, the current purpose of the Company is to seek, investigate
and, if such investigation warrants, merge or acquire an interest in business
opportunities presented to it by persons or companies who or which desire to
seek the perceived advantages of a Securities Exchange Act of 1934 registered
corporation. The Company has no particular acquisitions in mind and has not
entered into any negotiations regarding such an acquisition, and neither the
Company's officer and director nor any promoter and affiliate has engaged in any
negotiations with any representatives of the owners of any business or company
regarding the possibility of a merger or acquisition between the Company and
such other company.





Pending
negotiation and consummation of a combination, the Company anticipates that it
will have, aside from carrying on its search for a combination partner, no
business activities, and, thus, will have no source of revenue. Should the
Company incur any significant liabilities prior to a combination with a private
company, it may not be able to satisfy such liabilities as are
incurred.





RESULTS
OF OPERATIONS





Nine
Months Ended September 30, 2008 as Compared to nine Months Ended September 30,
2007





Revenues





There was
$0.00 in revenue derived from the Company for the three-month period ended
September 30, 2008. There was $0.00 revenue for the three month period ended
September 30, 2007.





Operational
Expenses





There
were $2,212,041 of expenses for operations for the ninemonth period ended
September 30, 2008, compared to $615,735 of expenses for operations for the nine
month period ended September 30, 2007, as restated.


21


Lower
expenses primarily reflect the reduction of consulting and professional fees due
to the Company’s lack of operations and transition from a business development
company.





There was
a net loss before provisions for income taxes of $2,212,041 for the nine month
period ended September 30, 2008, compared to a net loss of $615,735 for the nine
month period ended September 30, 2007, as restated.





Lower
losses primarily reflect the reduction of consulting and professional fees due
to the Company’s lack of operations and transition from a business development
company.





There
were no sales and marketing expenses for the nine month period ended September
30, 2008.





LIQUIDITY
AND CAPITAL RESOURCES





At
September 30, 2008, the Company had working capital deficit of $
51,940.





Management
believes that cash expected to be generated from operations and current cash
reserves will not be sufficient to meet our capital expenditures and working
capital needs. Our future liquidity and cash requirements will depend on a wide
range of factors, including the level of business in existing operations,
expansion of facilities and possible acquisitions. In particular, if cash flows
from operations are not sufficient, we may have to sell our equity or debt
securities or seek additional financing through other means. We cannot assure
you that such raising of capital or seeking of additional financing will be
available in amounts and on terms acceptable to us.





Going
Concern





We have
experienced significant losses for the period from inception to September 30,
2008 aggregating $5,518,486. In addition, we had no significant revenue
producing operations at 12/31/07 or September 30, 2008.





Our
ability to continue as a going concern is contingent upon our ability to
implement our business plan and to attain profitable operations and secure
financing. In addition, our ability to continue as a going concern must be
considered in light of the problems, expenses and complications frequently
encountered by entrance into established markets and the competitive environment
in which we operate.





We are
pursuing equity financing for our operations. Failure to secure such financing
or to raise additional capital or borrow additional funds may result in our
depleting available funds and not being able pay our obligations.





OFF
BALANCE SHEET RISK





The
Company had no off-balance sheet transactions.





ITEM 3. Quantitative and Qualitative Disclosures a bout Market
Risk.





Currently
the Company has no assets under management and is not subject to market
risk.


22


ITEM
4.  Controls and Procedures





An
evaluation was performed under the supervision and with the participation of
Atlantis Technology Group management, including the CEO and Principal
Financial Officer of the effectiveness of the design and operation of
Atlantis Technology Group disclosure controls and procedures (as defined in
Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as
amended). Based on that evaluation, Atlantis Technology Group management,
including the CEO and Principal Financial Officer, concluded that Atlantis
Technology Group disclosure controls and procedures were effective as of
the end of the period covered by this report. There have been no changes
in Atlantis Technology Group internal control over financial reporting (as
defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of
1934, as amended) that occurred during Atlantis Technology Group most recent
quarter that has materially affected, or is reasonably likely to materially
affect, Atlantis Technology Group internal control over financial
reporting.




It should
be noted that any system of controls, however well designed and operated, can
provide only reasonable, and not absolute, assurance that the objectives of the
system are met. In addition, the design of any control system is based in part
upon certain assumptions about the likelihood of future events. Because of these
and other inherent limitations of control systems, there is only reasonable
assurance that Atlantis Technology Group controls will succeed in achieving
their stated goals under all potential future conditions.




The
Company had material weaknesses identified at December 31,2007.




The
Company was practically inactive for the September 30, 2008 period.




23





PART
II


OTHER
INFORMATION





Item
1. Legal Proceedings





On July
16th
2008 a case was filed against Atlantis Technology Group by Inmate John W Perroti
in the Nevada US District Court. Atlantis Technology Group officers have filed
all necessary documentation to the Nevada US District Court.





Item
2. Unregistered Sales Of Equity Securities And Use Of Proceeds





None




Item
3. Defaults Upon Senior Securities





None




Item
4. Submission Of Matters To A Vote Of Securities Holders





None





Item
5. Other Information





In
November 2007, the Company incorporated a new wholly-owned
subsidiary, Incorp Services, Inc.  On or about December 7, 2007,
we changed the corporate name to Global Online Television Corporation for
the purpose of providing IPTV service to customers.  During the 1st quarter
of 2008, a website was developed using in-house resources and negotiated various
agreements with various IPTV service companies.  During the 2nd quarter
of 2008, our preliminary test market was opened and failed to demonstrate
sufficient market demand to validate our business model.  Accordingly, this
corporation was dissolved in July 2008.  During the life of this
wholly-owned subsidiary, the entity had no assets, no revenues and
only nominal start-up expenses which were paid by the parent company.  The
Company has no ongoing liabilities or obligations related to this
operation.





Item
6. Exhibits





Exhibits





31 .1
            Section 302 Certification of Chief Executive Officer and
      Principal Financial Officer, Principal Accounting
    Officer





32 .1
            Section 906 Certification of Chief Executive Officer and
      Principal Financial Officer, Principal Accounting
    Officer




24




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
thereunto duly authorized.




ATLANTIS
      TECHNOLOGY GROUPDate:
      November 14, 2008By:Christopher
      M. Dubeau, Chief Executive Officerand
      Principal Financial Officer, Principal Accounting
  Officer


25