UNITED
      STATES


SECURITIES
      AND EXCHANGE COMMISSION


Washington,
      D.C.  20549





FORM
      10KSB/A





[X]
            ANNUAL
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                ACT OF
                1934





For
      the fiscal year ended December 31,
      2007





[   ]
            TRANSITION
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                ACT OF
                1934





For
      the transition period from
      _________ to ____________





Commission
      File
      No.  000-27131





TRANSFER
      TECHNOLOGY
      INTERNATIONAL CORP.


(Exact
      name of Registrant as specified in its charter)








DELAWARE
            88-0381258(State
                or other jurisdiction of incorporation or organization)
            (I.R.S.
                Employer Identification)








2203
                North Lois Avenue, Suite 704 Tampa,
                FL
            33607(Address
                of principal executive offices)
            (Zip
                Code)





Registrant’s
      telephone number  (813)
      600-4081





Securities
      registered pursuant to Section 12(b) of the Act:  none





Securities
      registered pursuant to Section 12 (g) of the Act:  $0.001 par value
      common stock





Check
      whether the issuer is not required to file reports pursuant to Section 13 or
      15(d) of the Exchange Act.  [   ]





Check
      whether the issuer (l) has 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. [X ] Yes
      [  ] No





Check
      if
      there is no disclosure of delinquent filers in response to Item 405 of
      Regulation S-B is not contained in this form, and no disclosure will be
      contained, to the best of 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. [   ]





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


Yes
      [   ]  No [X]





State
      issuer’s revenues for its most recent fiscal year.  $160.





The
      aggregate market value of the voting and non-voting common equity held by
      non-affiliates computed by reference to the price at which the common equity
      was
      sold as of April 10, 2008 is $8,823,762.





The
      number of shares of the issuer’s Common Stock outstanding as of April 11, 2008
      is 12,640,692.





Transitional
      Small Business Disclosure Format (check one):  Yes
      [   ]  No [ X ]




EXCEPT
        WHERE AND AS OTHERWISE STATED TO THE CONTRARY IN THIS ANNUAL REPORT, ALL
        SHARE
        AND PRICES PER SHARE HAVE BEEN ADJUSTED TO GIVE RETROACTIVE EFFECT TO THE
        CHANGE
        IN THE PRICE PER SHARE OF THE COMMON STOCK RESULTING FROM THE ONE FOR ONE
        HUNDRED REVERSE SPLIT OF THE COMMON STOCK THAT TOOK EFFECT ON DECEMBER 7,
        2007.
  -
            1 -


TRANSFER
      TECHNOLOGY INTERNATIONAL CORP.




FORM
      10-KSB/A




TABLE
      OF CONTENTS


PagePART I
            
            
            
            
            
            3Item 1.
            
            Description
                of
                Business
            
            3Item 2.
            
            Description
                of
                Property
            
            5Item 3.
            
            Legal
                Proceedings
            
            6Item 4.
            
            Submissions
                of
                Matters to a Vote of Security Holders
            
            6PART
                II
            
            
            
            
            
            6Item 5.
            
            Market
                for Common
                Equity and Related Stockholder Matters
            
            6Item 6.
            
            Management’s
                Plan
                of Operaions
            
            7Item 7.
            
            Financial
                Statements
            
            9Item 8.
            
            Changes
                In and
                Disagreements With Accountants on Accounting and Financial
                Disclosure
            
            26Item 8A.
            
            Controls
                and
                Procedures
            
            26Item 8B.
            
            Other
                Information
            
            26PART III
            
            
            
            
            
            27Item 9.
            
            Directors,
                Executive Officers, Promoters, Control Persons and Corporate Governance:
                Compliance with Section 16(a) of the Exchange Act
            
            27Item 10.
            
            Executive
                Compensation
            
            29Item 11.
            
            Security
                Ownership of Certain Beneficial Owners and Management and Related
                Stockholder Matters
            
            29Item 12.
            
            Certain
                Relationships, Related Transactions and Director
                Independence
            
            30Item 13.
            
            Exhibits
            
            31Item 14.
            
            Principal
                Accountant Fees and Services
            
            31





-
          2 -





PART
      I





Item
      1. Description of Business





History




We
      were
      incorporated under the name “DP Charters” in Nevada on December 18,
      1997.  On April 18, 2002, we changed our name to “Nomadic
      Collaboration International, Inc.” Effective May 30, 2003, LGC Acquisition
      Company, a Delaware corporation and wholly owned subsidiary of Nomadic
      Collaboration International, Inc., a Nevada corporation, merged with and into
      LiquidGolf Corporation, a Delaware corporation, such that LiquidGolf Corporation
      was the surviving entity, and by virtue thereof, LiquidGolf corporation became
      a
      wholly owned subsidiary of Nomadic Collaboration.  On
      September 29, 2003, the Company completed a re-incorporation merger into a
      Delaware Corporation thus changing the state of incorporation from Nevada to
      Delaware. As a result of the merger, the name of the Company changed to
      LiquidGolf Holding Corporation.  Our business operations at this time
      became the sale of golf equipment.




On
      August 12, 2004, we determined to change the name of the Company from
      LiquidGolf Holding Corporation to Horizon Holding Corporation to reflect our
      business decision to diversity our business operations beyond the sale of golf
      equipment.  As part of this effort, in January 2006, we purchased the
      Silent SwordTM
      software and all trademarks, service marks, and logos.  On
      April 28, 2006 a majority of our stockholders approved changing the name of
      the Company from Horizon Holding Corporation to Inverted Paradigms Corporation
      to reflect our business direction of developing the Silent SwordTM
      software.  Eventually we were not successful in achieving commercially
      viable operations in the sale of golf equipment or in the sale
      software.  We discontinued the sale of golf equipment in August of
      2006 and the sale of software in March of 2007.  On October 2, 2007,
      we entered into an agreement with GAMI, LLC to purchase the Silent SwordTM
      software and thereafter consummated the sale.




In
      September, 2007, it was determined to focus business interests on researching,
      developing and commercializing innovative, leading-edge
      technologies.  On September 7, 2007, Mr. Chris Trina was hired to be
      our CEO to pursue this business direction since he was experienced in this
      industry.  Our name would eventually be changed to Transfer Technology
      International Corp. (“TTIN”) to reflect this business direction.




Transfer
      Technology




TTIN’s
      goal is to build a large intellectual properties portfolio and develop effective
      commercialization strategies that will lay the groundwork for the company’s
      future growth and success. To execute this business plan, the company plans
      to:
      (1) identify, evaluate and acquire promising technologies; (2) assess the
      potential market for each technology and recruit likely business partners;
      and
      (3) capitalize on the technology potential through
      commercialization.




During
      the first quarter of 2008, TTIN acquired patents relating to two technologies.
      The first is a patented process for preventing flash rust on low carbon steel.
      The second patent is for a product that protects citrus groves from citrus
      canker, a disease that causes millions of dollars of crop damage each year.
      Both
      of these technologies address large markets and offer significant sales
      opportunities. A study by CCT Technologies estimates that rust damage costs
      U.S.
      businesses approximately $276 billion annually. Regarding citrus canker, the
      U.S. Department of Agriculture has spent more than $436 million since 2000
      on
      citrus canker eradication efforts.  In addition, the company is
      currently evaluating a third patent for possible acquisition.




TTIN
      plans to research, develop and commercialize innovative, leading-edge
      technologies through the acquisition of licenses and the design of effective
      commercialization strategies in conjunction with business partners who can
      facilitate market penetration. The company will also help clients identify
      and
      acquire development-stage technologies and processes that can enhance the
      client’s business in exchange for milestone and royalty payments.




-
          3 -




Three-fold
      strategy for
      technology acquisition




The
      company seeks to identify technologies that represent a significant advance
      over
      existing technologies, address an established market and are socially
      responsible.  TTIN plans to pursue technology licensing opportunities
      in the government, academic and private sectors:




1.
      TTIN
      intends to negotiate Cooperative Research and Development Agreements (CRADA)
      with the Department of Energy, Department of Agriculture and other federal
      agencies. As part of these agreements, the company will fund research and
      development of technologies discovered by scientists employed by these
      government agencies;




2.  In
      the academia market, TTIN plans to target numerous “orphaned” inventions and
      technology improvements. Approximately 70 percent of university patents never
      find a practical application or a commercial market;




3.
      TTIN
      will also search for licensing opportunities in the private sector by evaluating
      new technologies and entering into licensing agreements with
      developers.




First
      two patents acquired
      in the first quarter of 2008:




Flash
      Off rust preventative targets multi-billion dollar corrosion market




Flash
      Off
      rust preventative (U.S. patent number 7,008,910) inhibits flash rusting on
      low
      carbon steel.  Applications for this product include structural steel,
      marine vessels, offshore structures, marine terminals, cranes, bridges, storage
      tanks, pipelines and potable water storage tanks. Rusting and corrosion
      adversely affect the performance of unprotected steel and may eventually result
      in structural failures. The U.S. Navy has conducted extensive tests of Flash
      Off
      that yielded favorable results.  Sherwin Williams is currently
      evaluating Flash Off with its line of coatings.




A
      study
      titled “Corrosion Costs and Preventive Strategies in the United States”
conducted by CCT Technologies with support from the Federal Highway
      Administration and National Association of Corrosion Engineers estimates total
      direct cost of corrosion damage at $276 billion annually.




Canker
      Kill product protects citrus groves




Canker
      Kill is an environmentally-friendly spray that protects citrus groves from
      a
      group of diseases commonly known as citrus canker.  ABC Research
      Corporation lab tested Canker Kill and found it effective against the
      Xanthomonas bacteria. Field tests by Glades Crop Care Inc. indicated Canker
      Kill
      was more effective than traditional copper spray treatments and much better
      than
      leaving trees untreated. Canker Kill also reduces or stops the growth of
      spoilage-causing micro-organisms such as Gram-positive bacteria, Gram-negative
      bacteria, mold, yeast and spores. As a result, Canker Kill has potential
      applications in the food and beverage processing industries.




Citrus
      canker is a disease that causes lesions on the leaves, stems and fruit of citrus
      trees, including lime, orange and grapefruit. Eradicating canker is extremely
      costly and typically involves burning citrus orchard trees. Since 2000, the
      U.S.
      Department of Agriculture has spent $436 million compensating commercial citrus
      growers in Florida for losses resulting from citrus canker eradication
      efforts.




Growth
      outlook




The
      company plans to raise $6 million in capital, which will be used to
      commercialize Flash Off and Canker Kill and pursue additional technologies.
      During 2008, TTIN plans to build its presence in the technology transfer market,
      negotiate agreements with research partners and complete the acquisition of
      additional patents.




By
      year-end 2009, TTIN anticipates having technology transfer agreements covering
      20 to 30 projects.  In addition, the company expects to begin
      commercializing some products. In 2010, management expects TTIN to report
      revenue from investments in 50 to 60 research projects. Assuming these goals
      are
      achieved, management forecasts 2010 revenues of $4.5 million and operating
      profits of $1.5 million.






-
          4 -


Management
      team and
      Scientific Advisory Board




The
      company’s CEO Chris Trina was introduced to UTEK Corp., a leading technology
      transfer company, during his tenure as senior vice president of sales at
      GunnAllen Financial Inc. Mr. Trina was responsible for almost $1.5 million
      of an
      approximate $6 million private capital raise for UTEK. Schneider Securities
      took
      UTEK public in 2000. Early UTEK investors have benefited from the company’s
      growth from an initial market capitalization of $22 million in 2000 to over
      $100
      million in 2008.




Intrigued
      by the UTEK business model and how well his private investors did, Mr. Trina
      followed the company’s development closely. After five years of watching and
      studying and being involved in UTEK, he decided to replicate many of UTEK’s
      successful strategies at  TTIN while replacing those components of the
      UTEK plan that have proved less effective.




In
      addition, Mr. Tina has helped build a strong Scientific Advisory Board for
      evaluating new technologies. TTIN’s expert advisors include: Dr. Sandy W. Shultz
      MD, vice chairman of the Department of Radiology at  Brandon Regional
      Hospital in Brandon, Florida; Todd Timmerman, an Intellectual Property Law
      Specialist certified by the Florida Board of Legal Specialization and Education,
      with significant expertise in intellectual property and  corporate
      litigation; and Gary L. Harrison who retired as president/COO of the Mrs.
      Smith's Frozen Foods Division of Flower's Foods Inc. in 2002.




Industry
      and Market
      opportunity




Technology
      transfers begin with the notion that in a world of widely distributed knowledge,
      companies cannot afford to rely entirely on their own research efforts, but
      should instead seek to acquire or license relevant processes or patents from
      other companies. In addition, internally developed technologies not used by
      the
      company should be monetized through licensing, joint ventures or
      spin-offs.




The
      transfer technology market includes virtually every university, research
      facility, government agency and private enterprise worldwide where new
      technologies are researched. This market consists of literally thousands of
      facilities researching tens of thousands of new technologies across a broad
      spectrum of industries.




Stanford
      University alone filed more than 300 patents in 2004, and has spun off
      technologies that helped build well-known companies such as Google, Sun
      Microsystems, Netscape, Cisco Systems and Yahoo. Each year, the Massachusetts
      Institute of Technology executes almost 100 licenses. The Georgia Institute
      of
      Technology in Atlanta, the University of Wisconsin in Madison, and Carnegie
      Mellon University in Pittsburgh have dedicated considerable resources to
      building productive technology transfer businesses. Universities receive
      hundreds of millions of dollars in royalties each year from businesses that
      have
      licensed and commercialized their inventions through technology
      transfers.




TTIN
      is a
      development-stage technology transfer company focused on researching, developing
      and commercializing innovative, leading-edge technologies.  The
      company identifies and acquires promising technologies, knowledge and/or
      capabilities developed by academia, governmental research or private
      enterprises, and utilizes these technologies to address unmet needs in the
      public and private sector through commercialization.




Employees





At
      the
      present time TTIN has five employees.




Item
      2. Description of Property





All
      of
      our operations are based in our facility located at 2203 North Lois Avenue,
      Suite 929, Tampa, FL 33607. Our rent for this location is approximately $2,200
      per month.  Our personal property consists of computer equipment and
      office furniture.





-
          5 -


Item
      3. Legal Proceedings





None





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





On
      September 18, 2007, stockholders holding 56.8% of the issued and outstanding
      common shares of TTIN submitted their written consent to resolutions stating
      that:





·
            The
                name of the corporation should be changed to Transfer Technology
                International Corp.


·
            The
                issued and outstanding shares of the corporation should be reverse
                split
                on a 1 for 100 basis.


·
            The
                authorized common shares of the corporation should be increased to
                250,000,000.





With
      regard to the written consents, appropriate filings were made with the U.S.
      Securities and Exchange Commission and appropriate notifications were mailed
      to
      the shareholders pursuant to Delaware law.





Part
      II





Item
      5. Market for Registrant’s Common Equity and Related Stockholders
      Matters





Trading
      Market





Our
      common stock is quoted in the Pink Sheets under the symbol
“TTIN.PK”.  The following table presents the range of high and low
      quotations during the past two years.  The quotations reflect
      inter-dealer prices, without retail mark-up, mark-down or commission and may
      not
      represent actual transactions.





Quarter
                Ending
            High
            Low12/31/2007
            $2.00
            $0.109/30/2007
            $2.00
            $0.106/30/2007
            $5.80
            $0.103/31/2007
            $7.00
            $5.8012/31/2006
            $9.00
            $5.009/30/2006
            $50.00
            $5.006/30/2006
            $50.00
            $20.003/31/2006
            $51.00
            $16.00





When
      reading the above table, it should be noted that our common equity was reverse
      split on a 1 for 100 basis effective December 7, 2007.  On April
      10, 2008, our stock closed at the bid price of $1.08.





Holders
      of our common
      stock





As
      of the
      date of this report, we have 573 registered shareholders.





-
          6 -


Dividends





There
      are
      no restrictions in our Certificate of Incorporation or bylaws that restrict
      us
      from declaring dividends.  However, we are prohibited from declaring
      dividends where, after giving effect to the distribution of the
      dividend:





1.  We
      would not be able to pay our debts as they become due in the usual course of
      business; or





2.  Our
      total assets would be less than the sum of our total liabilities, plus the
      amount that would be needed to satisfy the rights of shareholders who have
      preferential rights superior to those receiving the distribution.





We
      have
      not declared any dividends. We do not plan to declare any dividends in the
      foreseeable future.





Item
      6. Management’s Plan of Operation




Operations





The
      presentation under this Item 6 consists only of our plan of operation for the
      next 12 months since revenue for the past two years is diminimous and since
      we
      completely changed our business operations in September of 2007.




The
      technology transfer market is enormous and includes virtually every university,
      research facility, government agency and private enterprise in the world where
      new technologies are developed. Thousands of facilities are researching tens
      of
      thousands of new technologies each day. Breakthroughs in medicine,
      communications, Internet technologies, engineering, entertainment, health
      sciences, energy and virtually all other industries have resulted from
      technology transfer agreements.





Our
      business model is based upon the fact that the innovators of new technologies
      are generally not adept at making those technologies available to and
      commercially viable in the real world.  What we plan to do is match up
      new technologies and innovations with developers that have the knowledge and
      capacity to put new technology to work.  Our management has observed
      and worked with companies that have been very successful in the industry and
      yet
      the surface and barely been scratched considering the potential that is
      available in this field.





Our
      plan
      during the next twelve months is to aggressively pursue this business
      model.  In the first quarter of 2008 we have acquired the rights to
      two impressive technologies that have vast capabilities for commercial
      development.  We expect to have 20 to 30 projects within the next 20
      months.  For this to occur we must obtain 12 to 15 projects within the
      next 12 months.





We
      will
      build a portfolio of intellectual properties and develop effective
      commercialization strategies that will lay the groundwork for its future growth
      through the following three steps:





1.
            Technology
                identification, evaluation and acquisition. The company plans to
                identify and acquire the best new technologies. To accomplish this,
                TTIN
                has created a Scientific Advisory Board to evaluate new technologies
                and
                report its findings to TTIN’s management
                team.





2.
            Market
                analysis and
                identification of potential business partners. TTIN’s management
                team will take information about licensable technologies to business
                leaders in the appropriate industry to determine market potential
                and then
                identity and negotiate agreements with business partners who can
                help
                deliver the technology to
                end-users.





3.
            Capitalize
                on
                technology value. The company plans to take advantage of early
                monetization opportunities and collaborate with scientists and business
                partners who can help the company realize the new technology’s full market
                potential. Milestone and royalty payments from developed technologies
                will
                provide the funding for pursuing new
                opportunities.





Liquidity
      and Capital
      Resources





Starting
      basically from scratch and given the time it takes technologies to penetrate
      new
      markets, we do not expect material revenues to commence until
      2010.  Therefore we plan on raising $6,000,000 for the purpose of
      aggressively pursuing our business model until we have significant revenues
      in
      2010.  We will need $1,500,000 to meet our cash needs in the next
      twelve months.  Of this amount, $900,000 will be used for operating
      expenses and $600,000 will be used for technology and patent
      procurement.  Operating expenses will include without limitation
      salaries, travel, rent and  payment for outside testing when necessary
      to investigate new technologies.  We also incur significant
      professional expenses for accounting and legal fees to maintain the status
      of
      our public corporation.





-
          7 -


As
      of
      April 11, 2008, we have a cash position of approximately $98,000.  We
      expect this will meet the cash needs of the company for the next 30 days at
      which time we will need to have been successful in raising additional capital
      through the sale of our common stock.  We are currently pursuing
      private sales of our equity capital and plan on expanding our private fund
      raising efforts to obtain the full $6,000,000 in funding so we can leave off
      our
      constant need to raise capital and pursue our technology acquisition business
      plan.  If we are successful, as we believe we will be, we project
      revenues of $4,500,000 in the year 2010 against expenses of $3,000,000 for
      an
      operating profit of $1,500,000.  However, this goal will not be
      obtained unless we are successful in raising the $6,000,000.  If we
      are not successful in raising additional capital, we may need to discontinue
      our
      business plan and look for other less capital intensive business
      opportunities.  It will take a minimum of $500,000 in new capital
      during the next twelve months to just maintain the public nature of corporation
      in good standing without even being able to develop the business side of our
      operations.




Off
      Balance Sheet
      Arrangements




We
      have
      no off-balance sheet arrangements that have or are reasonably likely to have
      a
      current or future effect on our financial condition, changes in financial
      condition, revenues or expenses, results of operations, liquidity, capital
      expenditures or capital resources that are material to investors.




Forward-Looking
      Statements:





We
        have
        made forward-looking statements, within the meaning of Section 21E of the
        Securities and Exchange Act of 1934, as amended, and Section 27A of the
        Securities Act of 1933, as amended, in this Annual Report on Form 10-KSB,
        including the sections entitled “Plan of Operation” and “Description of
        Business” that are based on our management’s beliefs and assumptions and on
        information currently available to our management.  Forward-looking
        statements include the information concerning our possible or assumed future
        results of operations, business strategies, financing plans, competitive
        position, industry environment, potential growth opportunities and the effects
        of future regulation and the effects of competition.  Forward-looking
        statements include all statements that are not historical facts and can be
        identified by the use of forward-looking terminology such as the words
“believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate”
or  similar expressions.
 
 Forward-looking
        statements involve risks, uncertainties and assumptions.  Actual
        results may differ materially from those expressed in the forward-looking
        statements.  You should understand that many important factors, in
        addition to those discussed elsewhere in this Annual Report on Form 10-KSB,
        could cause our  results to differ materially from those expressed in
        the forward-looking statements.  These factors include, without
        limitation, the rapidly changing industry and regulatory environment, our
        limited operating history, our ability to implement our growth strategy,
        our
        ability to  integrate acquired companies and  their assets
        and  personnel into our business, our fixed obligations, our
        dependence on new capital to fund  our growth strategy,  our
        ability to attract and retain quality personnel, our competitive environment,
        economic and other conditions in markets in which we operate, increases in
        maintenance costs and insurance premiums and cyclical and seasonal fluctuations
        in our operating results.  TTIN, unless legally required, undertakes
        no obligation to update or revise any forward-looking statements, whether
        as a
        result of new information, future events, or otherwise.
  -
            8 -
  Item
      7. Financial Statements


TRANSFER
        TECHNOLOGY INTERNATIONAL CORP.
 (FORMELY
        KNOWN AS INVERTED PARADIGMS CORPORATION)
 CONSOLIDATED
        FINANCIAL STATEMENTS
 DECEMBER
        31, 2007 AND 2006
 
 -
            9 -
 
 TRANSFER
        TECHNOLOGY INTERNATIONAL CORP.
 (FORMELY
        KNOWN AS INVERTED PARADIGMS CORPORATION)
 CONSOLIDATED
        FINANCIAL STATEMENTS
 DECEMBER
        31, 2007 AND 2006
 
 
 
 
 
 
 CONSOLIDATED
        FINANCIAL
        STATEMENTS:                  Pages
   Reports
        of Independent Registered Public Accounting Firm       11
        -
        12
  Consolidated
        Balance Sheet as of December 31, 2007          
        13
  Consolidated
        Statements of Operations for the Years Ended
 December
        31, 2007 and 2006                   
        14
  Consolidated
        Statement of Stockholders’ Deficit for the Years
 Ended
        December 31, 2007 and 2006                  
        15
  Consolidated
        Statement of Cash Flows for the Years
 Ended
        December 31, 2007 and
        2006                                                                                                                           
16
  Notes
        to Consolidated Financial Statements                      
        17 – 25
 
 
 
 -
            10 -
 BAGELL,
          JOSEPHS, LEVINE & COMPANY, L.L.C.
 Certified
          Public Accountants
  406
          Lippincott Drive, Ste. J
 Marlton,
          NJ  08053-4168
 (856)
          346-2828  Fax (856) 396-0022
 REPORT
        OF INDEPENDENT
        REGISTERED PUBLIC ACCOUNTING FIRM
 
 
 
 Board
        of Directors and
        Stockholders
 TRANSFER
        TECHNOLOGY INTERNATIONAL
        CORP.
 Tampa,
        FL
  We
        have audited the accompanying consolidated balance sheet of Transfer Technology
        International Corp.(the “Company”) as of December 31, 2007, and the related
        consolidated statements of operations, stockholders’ deficit and cash flows for
        the year ended December 31, 2007. These consolidated financial statements
        are
        the responsibility of the Company's management. Our responsibility is to
        express
        an opinion on these consolidated financial statements based on our
        audit.
  We
        conducted our audit in accordance with the standards of the Public Company
        Accounting Oversight Board (United States). Those standards require that
        we plan
        and perform the audit to obtain reasonable assurance about whether the
        consolidated financial statements are free of material misstatement. The
        Company
        is not required to have, nor were we engaged to perform, an audit of its
        internal control over financial reporting. Our audit included consideration
        of
        internal control over financial reporting as a basis for designing audit
        procedures that are appropriate in the circumstances, but not for the purpose
        of
        expressing an opinion on the effectiveness of the Company’s internal control
        over financial reporting. Accordingly, we express no such opinion. An audit
        also
        includes examining, on a test basis, evidence supporting the amounts and
        disclosures in the financial statements, assessing the accounting principles
        used and significant estimates made by management, as well as evaluating
        the
        overall financial statement presentation. We believe that our audit provides
        a
        reasonable basis for our
        opinion.
  In
        our opinion, the consolidated financial statements referred to above present
        fairly, in all material respects, the financial position of Transfer Technology
        International Corp., as of December 31, 2007, and the results of its operations
        and its cash flows for the year ended December 31, 2007 in conformity with
        accounting principles generally accepted in the United States of
        America.
  The
        accompanying consolidated financial statements as of December 31, 2007 have
        been
        prepared assuming the Company will continue as a going concern. As discussed
        in
        Note 2 to the consolidated financial statements, the Company has incurred
        substantial accumulated deficits and operating losses. These issues lead
        to
        substantial doubt about the Company’s ability to continue as a going concern.
        Management’s plans in regards to these matters are also discussed in Note 2. The
        consolidated financial statements do not include any adjustments that might
        result from the outcome of these
        uncertainties.
    /s/
        BAGELL, JOSEPHS, LEVINE & COMPANY,
        L.L.C.
 Bagell,
        Josephs, Levine & Company,
        L.L.C.
 Marlton,
        New Jersey
  April
        10, 2008
 
 -
            11 -
 TEDDER,
          JAMES, WORDEN & ASSOCIATES, P.A.
 CERTIFIED
          PUBLIC ACCOUNTANTS & BUSINESS ADVISORS
 AN
          INDEPENDENTLY OWNED MEMBER OF THE RSM McGLADREY
          NETWORK
 Report
        of
        Independent Registered Certified Public Accounting Firm
 
 To
        the Board of
        Directors and Stockholders of
 Inverted
        Paradigms
        Corporation (currently known as
 Transfer
        Technology
        International Corp.):
  We
        have audited the
        accompanying consolidated statements of operations, stockholders' deficit,
        and
        cash flows for the year ended December 31, 2006 of Inverted Paradigms
        Corporation and subsidiaries (currently known as Transfer Technology
        International Corp.).  These financial statements are the
        responsibility of the Company's management.  Our responsibility is to
        express an opinion on these financial statements based on our
        audit.
  We
        conducted our
        audit in accordance with the standards of the Public Company Accounting
        Oversight Board (United States).  Those standards require that we plan
        and perform the audit to obtain reasonable assurance about whether the financial
        statements are free of material misstatement.  An audit includes
        examining, on a test basis, evidence supporting the amounts and disclosures
        in
        the financial statements.  An audit also includes assessing the
        accounting principles used and significant estimates made by management,
        as well
        as evaluating the overall financial statement presentation.  We
        believe that our audit provides a reasonable basis for our
        opinion.
  In
        our opinion, the
        consolidated financial statements referred to above present fairly, in all
        material respects, the results of operations of Inverted Paradigms Corporation
        and subsidiaries (currently known as Transfer Technology International Corp.)
        and their cash flows for the year ended December 31, 2006, in conformity
        with
        U.S. generally accepted accounting
        principles.
  The
        accompanying consolidated financial statements have been prepared assuming
        the
        Company will continue as a going concern. As discussed in Note 2 to the
        consolidated financial statements, the Company has incurred net losses and
        negative cash flows from operations since inception and has a working capital
        deficiency as well as a capital deficiency.  These factors, and the
        need for additional financing in order for the Company to meet its business
        plans, raise substantial doubt about its ability to continue as a going
        concern.  Management's
        plans in
        regard to these matters are also discussed in Note 2.  The
        consolidated financial statements do not include any adjustments that might
        result from the outcome of this uncertainty.
 
 
 /s/TEDDER, JAMES, WORDEN &
ASSOCIATES, P.A.
 Orlando,
                  Florida
 August
                  23,
                  2007
 
 -
            12 -
  TRANSFER
            TECHNOLOGY INTERNATIONAL CORP. AND SUBSIDIARIES
 (FKA
            INVERTED PARADIGMS CORPORATION AND SUBSIDIARIES)
 CONSOLIDATED
            BALANCE SHEET
 December
            31, 2007
 ASSETS2007CURRENT
                    ASSETSCash
                
                
                
                
                
                
                
                $
                1,915Other
                    assets
                
                
                
                
                
                
                
                2,862Total
                    current assets
                
                
                
                
                
                
                4,777TOTAL
                    ASSETS
                
                
                
                
                
                
                $
                4,777LIABILITIES
                    AND
                    STOCKHOLDERS'  DEFICITCURRENT
                    LIABILITIESAccounts
                    payable
                
                
                
                
                
                
                $
                146,730Other
                    current
                    liabilities
                
                
                
                
                
                
                347,053Liabilty
                    for
                    stock to be issued
                
                
                
                
                
                
                15,000Notes
                    payable
                
                
                
                
                
                
                
                107,037Total
                    current liabilities
                
                
                
                
                
                
                615,820STOCKHOLDERS'  DEFICITCommon
                    stock,
                    par value $.001 per share;250,000,000
                    shares authorized in 2007and
                    6,243,982 shares issued and outstandingat
                    December 31, 2007
                
                
                
                
                
                
                6,243Subscription
                    receivable
                
                
                
                
                
                
                (1,449)Additional
                    paid-in capital
                
                
                
                
                
                
                40,674,740(Accumulated
                    deficit)
                
                
                
                
                
                
                (41,290,577)Total
                    stockholders' deficit
                
                
                
                
                
                (611,043)TOTAL
                    LIABILITIES AND
                    STOCKHOLDERS'  DEFICIT
                
                
                $
                4,777
 The
          accompanying notes are an integral part of these consolidated financial
          statements.
  -
              13 -
  TRANSFER
            TECHNOLOGY INTERNATIONAL CORP. AND SUBSIDIARIES
 (FKA
            INVERTED PARADIGMS CORPORATION)
 CONSOLIDATED
            STATEMENTS OF OPERATIONS
 FOR
            THE
            YEARS ENDED DECEMBER 31, 2007 AND 2006
   2007
                  
                  
                  2006REVENUESNet
                      sales
                  
                  $
                  160
                  
                  
                  $
                  480Cost
                      of
                      sales
                  
                  
                  (834
                  )
                  
                  
                  (336
                  )Gross
                      Profit
                      (loss)
                  
                  
                  (674
                  )
                  
                  
                  144COSTS
                      AND
                      EXPENSESSelling,
                      general and administrative
                  
                  
                  337,802
                  
                  
                  
                  1,907,062Impairment
                      of intangible assets and other
                  
                  
                  16,137
                  
                  
                  
                  100,796Total
                      costs and
                      expenses
                  
                  
                  353,939
                  
                  
                  
                  2,007,858NET
                      LOSS BEFORE OTHER INCOME
                      (LOSS)
                  
                  
                  (354,613
                  )
                  
                  
                  (2,007,714
                  )OTHER
                      INCOME
                      (LOSS)Interest
                      income
                  
                  
                  -
                  
                  
                  
                  241Interest
                      expense
                  
                  
                  (823,048
                  )
                  
                  
                  (106,351
                  )Legal
                      settlement - contract
                  
                  
                  (400,000
                  )
                  
                  
                  -Total
                      other income
                      (loss)
                  
                  
                  (1,223,048
                  )
                  
                  
                  (106,110
                  )LOSS
                      FROM CONTINUING
                      OPERATIONS
                  
                  
                  (1,577,661
                  )
                  
                  
                  (2,113,824
                  )LOSS
                      FROM DISCONTINUED
                      OPERATIONS
                  
                  
                  -
                  
                  
                  
                  (372
                  )LOSS
                      BEFORE PROVISION FOR
                      INCOME TAX
                  
                  
                  (1,577,661
                  )
                  
                  
                  (2,114,196
                  )PROVISION
                      FOR INCOME
                      TAX
                  
                  
                  -
                  
                  
                  
                  -NET  LOSS
                  
                  $
                  (1,577,661
                  )
                  
                  $
                  (2,114,196
                  )NET  LOSS
                      PER COMMON
                      SHARE - BASIC AND DILUTED
                  
                  $
                  (2.11
                  )
                  
                  $
                  (6.85
                  )WEIGHTED
                      AVERAGE OUTSTANDING
                      SHARESOF
                      COMMON STOCK - BASIC AND
                      DILUTED
                  
                  
                  748,872
                  
                  
                  
                  308,863
 The
            accompanying notes are an integral part of these consolidated financial
            statements.
  -
              14 -
 TRANSFER
                        TECHNOLOGY INTERNATIONAL CORPORATION AND
                        SUBSIDIARIES(FKA
                        INVERTED
                        PARADIGMS CORPORATION)CONSOLIDATED
                        STATEMENTS OF STOCKHOLDERS' DEFICITFOR
                        THE YEARS
                        ENDED DECEMBER 31, 2007 and 2006AdditionalCommon
                        Stock
                    
                    
                    
                    
                    
                    Paid-In
                    
                    
                    Accumulated
                    
                    
                    SubscriptionShares
                    
                    
                    Amount
                    
                    
                    Capital
                    
                    
                    Deficit
                    
                    
                    Receivable
                    
                    
                    TotalBALANCE,
                        DECEMBER 31,
                        2005
                    
                    
                    134,201
                    
                    
                    $
                    134
                    
                    
                    $
                    37,352,684
                    
                    
                    $
                    (37,598,720
                    )
                    
                    $
                    -
                    
                    
                    $
                    (245,902
                    )Deferred
                        stock based employee
                        compensation
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    57,706
                    
                    
                    
                    -
                    
                    
                    
                    
                    
                    
                    
                    57,706Issuance
                        of common stock for
                        directors' fees
                    
                    
                    6,000
                    
                    
                    
                    6
                    
                    
                    
                    27,994
                    
                    
                    
                    -
                    
                    
                    
                    
                    
                    
                    
                    28,000Issuance
                      of common stock for  conversion of promissory notes
                    
                    
                    16,000
                    
                    
                    
                    16
                    
                    
                    
                    58,385
                    
                    
                    
                    -
                    
                    
                    
                    
                    
                    
                    
                    58,401Issuance
                      of common stock for
                      purchase of Silent Sword
                    
                    
                    100,000
                    
                    
                    
                    100
                    
                    
                    
                    149,900
                    
                    
                    
                    -
                    
                    
                    
                    
                    
                    
                    
                    150,000Issuance
                        of common stock for
                        services
                    
                    
                    47,898
                    
                    
                    
                    48
                    
                    
                    
                    539,026
                    
                    
                    
                    -
                    
                    
                    
                    
                    
                    
                    
                    539,074Contributions
                      from stockholder for
                      payment of services
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    75,000
                    
                    
                    
                    -
                    
                    
                    
                    
                    
                    
                    
                    75,000Cashless
                        warrant
                        exercise
                    
                    
                    10,000
                    
                    
                    
                    10
                    
                    
                    
                    (10
                    )
                    
                    
                    -
                    
                    
                    
                    
                    
                    
                    
                    -Sale
                        of common stock, net of
                        issuances
                    
                    
                    62,353
                    
                    
                    
                    62
                    
                    
                    
                    359,888
                    
                    
                    
                    -
                    
                    
                    
                    
                    
                    
                    
                    359,950Issuance
                        of warrants in connection
                        with promissory notes
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    5,400
                    
                    
                    
                    -
                    
                    
                    
                    
                    
                    
                    
                    5,400Interest
                      on beneficial conversion feature of promissory note
                    
                    
                    -
                    
                    
                    
                    -
                    
                    
                    
                    10,648
                    
                    
                    
                    -
                    
                    
                    
                    
                    
                    
                    
                    10,648Net
                        loss for the year ended
                        December 31, 2006
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    (2,114,196
                    )
                    
                    
                    -
                    
                    
                    
                    (2,114,196
                    )BALANCE,
                        DECEMBER 31,
                        2006
                    
                    
                    376,451
                    
                    
                    
                    376
                    
                    
                    
                    38,636,621
                    
                    
                    
                    (39,712,916
                    )
                    
                    
                    -
                    
                    
                    
                    (1,075,919
                    )Issuance
                      of common stock for
                      conversion of notes payable
                    
                    
                    1,621,041
                    
                    
                    
                    1,608
                    
                    
                    
                    1,122,644
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    1,124,252Common
                        stock issued for maturity
                        of note
                    
                    
                    1,500
                    
                    
                    
                    15
                    
                    
                    
                    10,350
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    10,365Issuance
                      of common stock for compensation expense
                    
                    
                    88,382
                    
                    
                    
                    88
                    
                    
                    
                    75,225
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    75,313Issuance
                      of common stock for settlement of contract
                    
                    
                    850,000
                    
                    
                    
                    850
                    
                    
                    
                    679,150
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    680,000Issuance
                      of common stock for stock
                      subscriptions
                    
                    
                    2,556,583
                    
                    
                    
                    2,556
                    
                    
                    
                    1,500
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    4,056Issuance
                      of common stock for settlement of contract
                    
                    
                    750,000
                    
                    
                    
                    750
                    
                    
                    
                    149,250
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    150,000Stock
                        subscription
                        receivable
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    (1,449
                    )
                    
                    
                    (1,449
                    )-Net
                        loss for the year ended
                        December 31, 2007
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    (1,577,661
                    )
                    
                    
                    -
                    
                    
                    
                    (1,577,661
                    )BALANCE,
                        DECEMBER 31,
                        2007
                    
                    
                    6,243,957
                    
                    
                    $
                    6,243
                    
                    
                    $
                    40,674,740
                    
                    
                    $
                    (41,290,577
                    )
                    
                    $
                    (1,449
                    )
                    
                    $
                    (611,043
                    )
  The
            accompanying notes are an integral part of these consolidated financial
            statements.
  -
                15 -
  TRANSFER
              TECHNOLOGY INTERNATIONAL CORPORATION AND SUBSIDIARIES
 (FKA
              INVERTED PARADIGMS CORPORATION AND SUBSIDIARIES)
 CONSOLIDATED
              STATEMENTS OF CASH FLOWS
 FOR
              THE
              YEARS ENDED DECEMBER 31, 2007 AND 2006
  2007
                  
                  
                  2006CASH
                      FLOWS FROM OPERATING
                      ACTIVITIES:Net
                      loss
                  
                  
                  (1,577,661
                  )
                  
                  
                  (2,114,196
                  )Adjustments
                      to reconcile net loss
                      tonet
                      cash used in operating
                      activities:Amortization
                      of deferred
                      stock-based employee compensation
                  
                  
                  -
                  
                  
                  
                  57,706Amortization
                      of deferred
                      stock-based employee compensation
                  
                  
                  -
                  
                  
                  
                  539,074Consulting
                      fee paid by
                      stockholder
                  
                  
                  -
                  
                  
                  
                  75,000Stock
                      issued to directors for
                      services
                  
                  
                  -
                  
                  
                  
                  28,000Stock
                      issued to vendors and
                      compensation compensation
                  
                  
                  75,313
                  
                  
                  
                  -Depreciation
                      and
                      amortization
                  
                  
                  -
                  
                  
                  
                  23,119Loss
                      on sale of
                      asset
                  
                  
                  16,137
                  
                  
                  
                  -Interest
                      resulting from beneficial
                      conversion feature of  notes payable
                  
                  
                  749,789
                  
                  
                  
                  10,648Impairment
                      of intangible
                      assets
                  
                  
                  -
                  
                  
                  
                  100,796Non
                      cash interest on promissory
                      notes
                  
                  
                  -
                  
                  
                  
                  41,050Changes
                      in Certain Assets and
                      LiabilitiesOther
                      current
                      assets
                  
                  
                  -
                  
                  
                  
                  9,267Other
                      assets
                  
                  
                  -
                  
                  
                  
                  (80
                  )(Increase)  in
                      prepaid
                      expenses
                  
                  
                  (2,622
                  )
                  
                  
                  -(Decrease)  accounts
                      payable
                  
                  
                  (18,487
                  )
                  
                  
                  (39,203
                  )Increase
                      accrued expenses -
                      net
                  
                  
                  425,500
                  
                  
                  
                  274,914Due
                      to related
                      parties
                  
                  
                  -
                  
                  
                  
                  34,383Net
                    cash  (used
                    in) continuing operating activities
                  
                  
                  (332,031
                  )
                  
                  
                  (959,522
                  )Net
                    cash  provided
                    by discontinued operations
                  
                  
                  -
                  
                  
                  
                  64,891Net
                    cash used in operating
                    activities
                  
                  
                  (332,031
                  )
                  
                  
                  (894,631
                  )CASH
                      FLOWS FROM INVESTING
                      ACTIVITIESPurchase
                      of property and
                      equipment
                  
                  
                  -
                  
                  
                  
                  (18,946
                  )Cash
                      acquired in connection with
                      Silent Sword
                  
                  
                  -
                  
                  
                  
                  28,894Proceeds
                      from collection of
                      loans
                  
                  
                  -
                  
                  
                  
                  10,000Sale
                      of
                      asset
                  
                  
                  150,000
                  
                  
                  
                  -Net
                    cash provided by investing
                    activities
                  
                  
                  150,000
                  
                  
                  
                  19,948CASH
                      FLOWS FROM FINANCING
                      ACTIVITIESProceeds
                      from issuing restricted
                      stock and stock to be issued
                  
                  
                  19,056
                  
                  
                  
                  359,950Proceeds
                      from notes payable to
                      stockholders -net
                  
                  
                  163,500
                  
                  
                  
                  346,618Net
                    cash provided by financing
                    activities
                  
                  
                  182,556
                  
                  
                  
                  706,568NET
                      INCREASE (DECREASE) IN
                      CASH
                  
                  
                  525
                  
                  
                  
                  (168,115
                  )CASH
                      AND CASH EQUIVALENTS -
                      BEGINNING OF YEAR
                  
                  
                  1,390
                  
                  
                  
                  169,505CASH
                      AND CASH EQUIVALENTS - END OF
                      YEAR
                  
                  $
                  1,915
                  
                  
                  $
                  1,390SUPPLEMENTAL
                      DISCLOSURE OF CASH
                      FLOW INFORMATIONIssuance
                      of Common
                      Stock for:Issuance
                      of 10,000,000 of common
                      stock in connection with purchase of SilentSword
                      software
                  
                  $
                  -
                  
                  
                  $
                  150,000Conversion
                      of
                      note payable or accounts payable  into common
                      stock
                  
                  $
                  1,214,828
                  
                  
                  $
                  50,000Issuance
                      of
                      warrants in connection with note payable
                  
                  $
                  -
                  
                  
                  $
                  5,400
 The
            accompanying notes are an integral part of these consolidated financial
            statements.
  -
                16 -
 TRANSFER
          TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
          KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
          TO
          CONSOLIDATED FINANCIAL STATEMENTS
 DECEMBER
          31, 2007 AND 2006
   Note
                  1 - Organization
 Reporting
        Entity. Transfer Technology International Corp. (the “Company”) was previously
        known as Inverted Paradigms Corporation (“Inverted Paradigms” or the “Company”)
        was incorporated in the State of Nevada on December 18, 1997. On September
        29,
        2003, the Company completed a re-incorporation merger into a Delaware
        Corporation thus changing the state of incorporation from Nevada to Delaware.
        The Company is in the process of seeking new technology.
 
 Name
        Change.On September 18, 2007 a majority
        of the stockholders approved changing the name of the Company from Inverted
        Paradigms Corporation to Transfer Technology International
        Corp.
 
 
 Note
                  2 - Basis of Presentation – Going Concern
  The
        Company’s consolidated financial statements have been prepared assuming the
        Company will continue as a going concern. The Company has experienced net
        losses
        since February 16, 1999 (date of inception), which losses have caused an
        accumulated deficit of  $41,290,577 as of December 31, 2007. This
        factor, among others, raises substantial doubt about the Company’s ability to
        continue as a going concern.
  Management
        has been able, thus far, to finance the losses through a series of private
        placements. The Company is continuing to seek other sources of financing
        and
        attempting to explore alternate ways of generating revenues through partnerships
        with other businesses. Conversely, the seeking of new technology is expected
        to
        result in operating losses for the foreseeable future. There are no assurances
        that the Company will be successful in achieving its
        goals.
  In
        view of these conditions, the Company’s ability to continue as a going concern
        is dependent upon its ability to obtain additional financing or capital sources,
        to meet its financing requirements, and ultimately to achieve profitable
        operations. Management believes that its current and future plans to raise
        capital provide an opportunity to continue as a going concern. The accompanying
        consolidated financial statements do not include any adjustments relating
        to the
        recoverability and classification of recorded assets, or the amounts and
        classification of liabilities that may be necessary in the event the Company
        cannot continue as a going concern.
 
 
 Note
                  3 - Summary of Significant Accounting Policies
 Principles
        of Consolidation
 
 The
        consolidated financial statements include the
        accounts of Transfer Technology International, Corporation and its one wholly
        owned subsidiary. All significant intercompany accounts and transactions
        are
        eliminated in the consolidated financial statements.
 -
            17 -
 TRANSFER
          TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
          KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
          TO
          CONSOLIDATED FINANCIAL STATEMENTS
 DECEMBER
          31, 2007 AND 2006
 Note
                  3 - Summary of Significant Accounting Policies (CONTINUED)
 
 Use
        of Estimates
 
 The
        preparation of financial statements in conformity with accounting principles
        generally accepted in the United States of America requires management to
        make
        estimates and assumptions that affect the reported amounts of assets and
        liabilities and disclosure of contingent assets and liabilities at the date
        of
        the financial statements and the reported amounts of revenues and expenses
        during the reporting period. Actual results could differ from those
        estimates.
 
 Cash
        and Cash Equivalents
 
 The
        Company considers all short-term investments with an original maturity of
        three
        months or less when purchased to be cash equivalents.
 
 Impairment
        of Long-Lived Asset
 
 The
        carrying values of long-lived assets are
        reviewed if the facts and circumstances indicate a potential impairment of
        their
        carrying values. Management evaluates the recoverability of the net carrying
        value of its property and equipment and goodwill by comparing the carrying
        values to the estimated future undiscounted cash flows. A deficiency in these
        cash flows relative to the carrying amounts is an indication of the need
        for a
        write-down due to impairment. The impairment write-down would be the difference
        between the carrying amounts and the fair value of these assets. Any loss
        on
        impairment is recognized by a charge to operations in the period identified..
        During 2006, management determined the intangibles relating to our Silent
        Sword
        acquisition were impaired and accordingly recorded an impairment charge (See
        Note 6). The company wrote off $16,137 in 2007
  Income
        Taxes
 
 The
        Company accounts for income taxes utilizing the asset and liability method.
        This
        approach requires the recognition of deferred tax assets and liabilities
        for the
        expected future tax consequences attributable to temporary differences between
        the financial statement carrying amounts of existing assets and liabilities
        and
        their respective tax bases and operating loss and tax credit carryforwards.
        Deferred tax assets and liabilities are measured using enacted tax rates
        expected to apply to taxable income in the years in which those temporary
        differences are expected to be recovered or settled. The effect on deferred
        tax
        assets and liabilities of a change in tax rates is recognized in income in
        the
        period that includes the enacted date. Valuation allowances are established
        when
        necessary to reduce deferred tax assets to the amount expected to be
        realized.
  In
        June 2006, The FASB issued interpretation no. 48, Accounting for Uncertainty
        in
        Income Taxes- an interpretation of FASB Statement No. 109 (FIN 48). FIN 48
        clarifies the accounting for uncertainty in income taxes recognized in an
        enterprise’s financial statements in accordance with FASB Statement No. 109,
        Accounting for Income Taxes (SFAS 109). This Interpretation prescribes a
        recognition threshold and measurement attribute for the financial statement
        recognition and measurement of a tax position taken or expected to be taken
        in a
        tax return. FIN 48 is effective for fiscal years beginning after December
        15,
        2006. The Company adopted FIN 48 effective January 1, 2007. The adoption
        of this
        statement had no impact on the Company's financial position or results of
        operation.
 
 -
            18 -
 TRANSFER
          TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
          KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
          TO
          CONSOLIDATED FINANCIAL STATEMENTS
 DECEMBER
          31, 2007 AND 2006
 Note
        3 - Summary of Significant Accounting Policies (CONTINUED)
 
 Stock-Based
        Compensation
 
 On
        January 1, 2006, the Company adopted the
        provisions of Statement of Financial Accounting Standards No. 123 (revised
        2004), "Share-Based Payment" ("SFAS No. 123(R)") which requires that the
        costs
        resulting from all share-based payment transactions be recognized in the
        financial statements at their fair values. The Company adopted SFAS No. 123(R)
        using the modified prospective application method under which the provisions
        of
        SFAS No. 123(R) apply to new awards and to awards modified, repurchased,
        or
        cancelled after the adoption date. Additionally, compensation cost for the
        portion of the awards for which the requisite service has not been rendered
        that
        are outstanding as of the adoption date is recognized in the Statement of
        Operations over the remaining service period after the adoption date based
        on
        the award's original estimate of fair value.
 
 Net
        Loss Per
        Share Information
 
 Basic
        and diluted loss per share is calculated by dividing net loss by the
        weighted-average number of common shares outstanding during the reporting
        period. The Company’s common stock warrants have been excluded from the diluted
        loss per share computation since their effect is
        anti-dilutive.
 
 Fair
        Value of Financial Instruments
 
 The
        carrying amount of cash and cash equivalents, loan receivable, accounts payable,
        and other current liabilities approximate fair value because of the short
        maturity of those instruments.
 
 Reclassification
 
 Certain
        amounts in December 31, 2006 were reclassified to conform to the 2007
        presentation. The reclassification had no effect on 2006 net
        loss.
  Recent
        Accounting
        Pronouncements
 
 In
        February 2006, the FASB issued SFAS No. 155, “Accounting for Certain
        Hybrid Financial Instruments, an amendment of FASB Statements No. 133 and
        140.” SFAS No. 155 resolves issues addressed in SFAS No. 133
        Implementation Issue No. D1, “Application of Statement 133 to Beneficial
        Interests in Securitized Financial Assets,” and permits fair value remeasurement
        for any hybrid financial instrument that contains an embedded derivative
        that
        otherwise would require bifurcation, clarifies which interest-only strips
        and
        principal-only strips are not subject to the requirements of SFAS No. 133,
        establishes a requirement to evaluate interests in securitized financial
        assets
        to identify interests that are freestanding derivatives or that are hybrid
        financial instruments that contain an embedded derivative requiring bifurcation,
        clarifies that concentrations of credit risk in the form of subordination
        are
        not embedded derivatives and amends SFAS No. 140 to eliminate the
        prohibition on a qualifying special-purpose entity from holding a derivative
        financial instrument that pertains to a beneficial interest other than another
        derivative financial instrument. SFAS No. 155 is effective for all
        financial instruments acquired or issued after the beginning of the first
        fiscal
        year that began after September 15, 2006. The implementation of this
        pronouncement had no impact on the Company’s financial position or results of
        operations. In March 2006, the FASB issued SFAS No. 156, “Accounting
        for Servicing of Financial Assets, an amendment of FASB Statement No. 140.”
SFAS No. 156 requires an entity to recognize a servicing asset or liability
        each time it undertakes an obligation to service a financial asset by entering
        into a servicing contract under a transfer of the servicer’s financial assets
        that meets the requirements for sale accounting, a  transfer of the
        servicer’s financial assets to a qualified special-purpose entity in a
        guaranteed mortgage securitization in which the transferor
        retains
  -
            19 -
 TRANSFER
          TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
          KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
          TO
          CONSOLIDATED FINANCIAL STATEMENTS
 DECEMBER
          31, 2007 AND 2006
 3.
        Summary of Significant Accounting Policies (CONTINUED)
 
 Recent
        Accounting Pronouncements (Continued)
 
 all
        of the resulting securities and classifies them as either available-for-sale
        or
        trading securities in accordance with SFAS
        No. 115,
 “Accounting
        for Certain Investments in Debt and Equity Securities” and an acquisition or
        assumption of an obligation to service a financial asset that does not relate
        to
        financial assets of the servicer or its consolidated affiliates. Additionally,
        SFAS No. 156 requires all separately recognized servicing assets and
        servicing liabilities to be initially measured at fair value, permits an
        entity
        to choose either the use of an amortization or fair value method for subsequent
        measurements, permits at initial adoption a one-time reclassification of
        available-for-sale securities to trading securities by entities with recognized
        servicing rights and requires separate presentation of servicing assets and
        liabilities subsequently measured at fair value and additional disclosures
        for
        all separately recognized servicing assets and liabilities. SFAS No. 156 is
        effective for transactions entered into after the beginning of the first
        fiscal
        year that began after September 15, 2006.  The implementation of
        this pronouncement had no impact on the Company’s financial position or results
        of operations.
  In
        September 2006, the FASB issued SFAS No. 157 “Fair Value
        Measurements,” which provides a definition of fair value, establishes a
        framework for measuring fair value and requires expanded disclosures about
        fair
        value measurements. SFAS No. 157 is effective for financial statements
        issued for fiscal years beginning after November 15, 2007 and interim
        periods within those fiscal years. The provisions of SFAS No. 157
        should be applied prospectively.  Management believes this will have
        no material impact on Company’s financial condition and results of
        operations.
  In
        September 2006, the FASB issued SFAS No. 158 “Employers’ Accounting
        for Defined Benefit Pension and Other Postretirement Plans”, which amends
        SFAS No. 87 “Employers’ Accounting for Pensions”
(SFAS No. 87), SFAS No. 88 “Employers’ Accounting for
        Settlements and Curtailments of Defined Benefit Pension Plans and for
        Termination Benefits” (SFAS No. 88), SFAS No. 106
“Employers’ Accounting for Postretirement Benefits Other Than Pensions”
(SFAS No. 106), and SFAS No. 132R “Employers’ Disclosures
        about Pensions and Other Postretirement Benefits (revised 2003)”
(SFAS No. 132R). This Statement requires companies to recognize an
        asset or liability for the overfunded or underfunded status of their benefit
        plans in their financial statements. SFAS No. 158 also requires the
        measurement date for plan assets and liabilities to coincide with the sponsor’s
        year end. The standard provides two transition alternatives related to the
        change in measurement date provisions. The recognition of an asset and liability
        related to the funded status provision is effective for fiscal year ending
        after
        December 15, 2006 and the change in measurement date provisions is
        effective for fiscal years ending after December 15, 2008.  The
        Company has no defined benefit pension plans at this time and therefore this
        pronouncement has no effect on the Company.
  In
        February 2007, the FASB issued SFAS No. 159, “The Fair Value Option for
        Financial Assets and Liabilities, including an amendment of FASB Statement
        No.
        115” (“SFAS No. 159”). SFAS No. 159 permits entities to choose, at specified
        election dates, to measure many financial instruments and certain other items
        at
        fair value that are not currently required to be measured at fair value.
        Unrealized gains and losses shall be reported on items for which the fair
        value
        option has been elected in earnings at each subsequent reporting date. SFAS
        No.
        159 is effective for fiscal years beginning after November 15, 2007. Early
        adoption is permitted as of the beginning of a fiscal year that begins on
        or
        before November 15, 2007, provided the entity also elects to apply the
        provisions of SFAS No. 157 “Fair Value Measurements” (“SFAS No.
        157”).  Management believes this will have no material impact on
        Company’s financial condition and results of operations.
  -
            20 -
 TRANSFER
          TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
          KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
          TO
          CONSOLIDATED FINANCIAL STATEMENTS
 DECEMBER
          31, 2007 AND 2006
 Note
        4 - Notes Payable
 
 Notes
        payable are summarized as follows as of December 31, 2007:
 
 AmountNovember
                    2006 - Unsecured promissory note payable to for $50,000 including
                    interest
                    at a fixed rate of 12%. The maturity date is May 2007 at which
                    time all
                    principal and interest are due. Although the note is past maturity
                    and is
                    in default, the Company is accruing interest.
                
                $
                50,000March
                    2006 - Unsecured promissory note payable to for $22,037 including
                    interest
                    at a fixed rate of 10%. The maturity date is March 2008 at which
                    time all
                    principal and interest are due. As additional consideration,
                    250,000
                    shares of stock will be delivered at maturity .
                
                
                22,037Unsecured
                    promissory note payable to for $50,000 including interest at
                    a fixed rate
                    of 13%. The maturity date was September 2007 at which time all
                    principal
                    and interest were due. $6,000 of the note was repaid in the 3
                    rd Qtr 2007,
                    $38,000 repaid in the 4th Qtr 2007.
                
                
                6,000Unsecured
                    convertible promissory note payable to for $25,000 including
                    interest at a
                    rate of 13%. The maturity date is February 2008 at which time
                    all
                    principal and interest are due.
                
                
                25,000Unsecured
                    convertible promissory note payable to for $25,000 including
                    interest at a
                    rate of 13%. The maturity date is January 2008 at which time
                    all principal
                    and interest are due.
                
                
                4,000Total
                    notes payable
                
                $
                107,037
 Note
        5 - Stockholders’ Equity
 
 The
        Company had 250,000,000 and 100,000,000 authorized shares of common stock
        as of
        December 31, 2007 and 2006 respectively The Company had 6,243,987 and 376,451
        shares of common stock issued and outstanding as of December 31, 2007 and
        2006
        respectively. The par value of the shares was $.001 per share. The shares
        have
        been retroactively restated to account for the reverse stock split effective
        December 7, 2007.
 
 2006
 
 The
        Board of Directors declared a 100 to 1 reverse stock split on December effective
        December 7, 2007.  The number of shares issued and outstanding has
        been reclassified to reflect the 100 to 1 reverse stock split. During the
        year
        ended December 31, 2006 the Company issued 100,000 shares of common stock
        for
        the purchase of a software system at a market value of
        $150,000
  -
            21 -
 
 TRANSFER
          TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
          KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
          TO
          CONSOLIDATED FINANCIAL STATEMENTS
 DECEMBER
          31, 2007 AND 2006
 
 Note
        5 - Stockholders’ Equity (Continued)
 
 2006
        -
        (continued)
 
 During
        the year ended December 31, 2006 the Company issued 6,000 shares of shares
        of
        common stock to 4 board members to satisfy $28,000 of previously accrued
        compensation. These shares had an average weighted grant date of fair market
        value of approximately $5.00.
  During
        the year ended December 31, 2006 the Company issued 47,898 shares of common
        stock as compensation to executives and consultants.  The shares
        issued included 2,500 shares issued to the former CEO as severance pay the
        shares had an approximate value of $40,000.  43,750 shares were issued
        with a value of $400,000 for investor relation expenses. 1,648 shares were
        issued as consulting fees for an approximate value of
        $99,074.
  During
        the year ended December 31, 2006 the company sold and issued 62,353 shares
        of
        common stock at an approximate value of  $359,950 to several
        investors.
  Warrant
        Exercise. On July 13, 2006, 594,118 warrants were exercised in a cashless
        exercise. As a result of this transaction, the Company issued 10,000 shares
        of
        common stock
  On
        December 20, 2006, the company issued 16,000 shares of its common stock to
        satisfy the principal and interest left on an older promissory
        note.
 
 2007
 
 During
        the year ended December 31, 2007 the company issued 1,622,541 shares of common
        stock for conversion of notes payable. The common stocks were issued at an
        market value of  $.70 per share.  The company
        included  $419,789 in beneficial interest expense in its consolidated
        statement of operations.
  During
        the year ended December 31, 2007 the company issued 88,382 shares of common
        stock for compensation expense. The common stocks were issued at an average
        market value of  $.85 per share.
  The
        company issued 850,000 shares of common stock for settlement of the outstanding
        amount of  $350,000 in connection with entering into a settlement
        agreement on August 22, 2007. The shares were issued at  $.80 per
        share for a total value of $680,000. The company included $330,000 in beneficial
        interest expense in its consolidated statement of
        operations.
  During
        the year ended December 31, 2007 the company issued stock
        subscribers   2,556,583 shares of common stock at par value of
        $.001 per share.
  The
        company issued 750,000 shares of common stock for settlement of
        a  $150,000 sale contract with Silent Sword. The shares were issued
        at  $.20 per share for a total value of $150,000.
 
 
 -
            22 -
 
 TRANSFER
          TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
          KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
          TO
          CONSOLIDATED FINANCIAL STATEMENTS
 DECEMBER
          31, 2007 AND 2006
 
 Note
        5 - Stockholders’ Equity, Continued
 
 The
        following table summarizes our warrants as of December 31,
        2007:
 
 Year
                Warrant
                    Type
                Warrant
                    Shares
                Exercise
                    Price
                Expiration
                    Date2002
                Class
                    A warrants
                1,220,000
                1.00
                April
                    – May 20072003
                Class
                    A warrants cancelled
                (160,000)2003
                Class
                    A warrants exercised
                (63,000)
                1.00997,0002002
                Class
                    B warrants
                1,220,000
                1.50
                April
                    – May 20072003
                Class
                    B warrants cancelled
                (160,000)1,060,0002004
                Notes
                    payable warrants
                50,000
                0.92
                None2004
                Private
                    placement warrants
                3,718,491
                0.75
                Aug.
                    – Oct. 20072004
                Expired
                3,718,491
                0.75-2005
                Broker
                    warrants
                50,000
                0.5
                Dec.
                    20082006
                Broker
                    warrants
                50,000
                0.5
                Mar.
                    20092006
                Broker
                    warrants
                300,000
                0.045
                Apr.
                    20112006
                Warrant
                    exercise
                (300,000)
                0.045-2006
                Broker
                    warrants
                294,118
                0.085
                May
                    20112006
                Warrant
                    exercise
                (294,118)
                0.085-2006
                Class
                    A warrants
                2,941,177
                0.085
                May
                    20112007
                Class
                    A warrants cancelled
                (2,941,177)
                0.085-2006
                Class
                    B warrants
                2,941,177
                0.085
                May
                    20112007
                Class
                    B warrants cancelled
                (2,941,177)
                0.085-Total
                    warrants outstanding
                2,207,000
 
 -
            23 -
 TRANSFER
          TECHNOLOGY INTERNATIONAL CORP.
 (FORMERLY
          KNOWN AS INVERTED PARADIGMS CORPORATION)
 NOTES
          TO
          CONSOLIDATED FINANCIAL STATEMENTS
 DECEMBER
          31, 2007 AND 2006
  Note
        6 - Impairment of Intangible Assets
 In
        December 2006, the Company recognized an impairment loss on our intangible
        assets due to the inability to continue selling and developing our software.
        The
        impairment loss relates to the Company’s Silent Sword TM
        software and related trademarks. As a result, the Company recorded an impairment
        charge of $100,796 for the year ending December 31, 2006.
 
 Note
        7 – Other Current Liabilities
 
 The
        Company has accrued $238,000 in accrued payroll, $18,245 in payroll taxes
        and $
        90,808 in other debts.
 
 Note
        8  - Settlement  of  consulting
        contract
 
 During
        the year ended December 31, 2007 the company settled a contract dispute in
        the
        amount of $400,000. The Company paid $50,000 in cash and issued shares for
        the
        remaining $350,000  (See Note 5).
 
 NOTE
        9 – RESTRICTED STOCK-BASED COMPENSATION
  On
        March 21, 2006, the Board of Directors adopted the Inverted Paradigms
        Corporation 2006 Restricted Stock Plan (the “2006 Plan”) and recommended that it
        be submitted to our stockholders for their approval at the 2006 Annual Meeting.
        The 2006  Plan was approved by the stockholders on April 28,
        2006. The terms of the 2006 Plan provide for grants of restricted stock
        awards
  Under
        the 2006 Plan, the total number of shares of restricted common stock that
        may be
        subject to the granting of Awards during the term of the 2006 Plan shall
        be
        equal to 6,000,000 shares. Shares with respect to which awards previously
        granted that are forfeited, cancelled or terminated are returned to the plan
        and
        may be reissued.
  Effective
        January 1, 2006, the Company adopted the provisions of Statement of
        Financial Accounting Standards No. 123R, “Accounting for Stock-Based
        Compensation” (“SFAS No. 123R”), which requires stock-based compensation to
        be measured based on the fair value of the awards on the grant date. The
        Company
        elected the “modified prospective method” of transition as permitted by SFAS
        No. 123R. Under this transition method, the Company is required to record
        compensation expense for all awards granted after the date of adoption and for
        the unvested portion of previously granted awards that were outstanding at
        the
        date of adoption, and accordingly, periods prior to adoption are not restated.
        The Company has not historically granted stock options to employees. However,
        for the year ended December 31, 2006, total equity-based compensation of
        approximately $57,000 was included in operating expense, resulting from the
        amortization of previously issued restricted stock awards. In addition, the
        Company expensed $210,000 of restricted stock awards resulting from a grant
        of
        9,836 shares.
 
 -
            24 -
 Note
                  10 - Subsequent Events
  On
        February 7, 2008 the Company issued an aggregate of 3,483,801 shares of common
        stock to a total of 23 persons and /or entities. The shares were issued in
        exchange for the cancellation of debt, payment of compensation and pursuant
        to
        the conversion of notes. The consideration received by the Company ranged
        from
        the par value of the stock to $0.25 per share, depending on the transaction.
        The
        issuance of the shares was exempt from the registration requirements of Section
        5 of the Securities Act of 1933 (the “Act”) pursuant to Section 4(2) of the Act
        since the shares were issued by the Company and did not involve any public
        offering. All share recipients were closely related to and well known by
        the
        Company and no money was raised.
  On
        March 4, 2008 the Company issued an aggregate of 1,954,785 shares of common
        stock to a total of 16 persons and /or entities. The shares were issued in
        exchange for the cancellation of debt, payment of compensation and pursuant
        to
        the conversion of notes. The consideration received by the Company ranged
        from
        the par value of the stock to $0.25 per share, depending on the transaction.
        The
        issuance of the shares was exempt from the registration requirements of Section
        5 of the Securities Act of 1933 (the “Act”) pursuant to Section 4(2) of the Act
        since the shares were issued by the Company and did not involve any public
        offering. All share recipients were closely related to and well known by
        the
        Company and no money was raised.





-
          25 -





Item
      8.  Changes In and Disagreements
      with Accountants on Accounting and Financial Disclosure





As
                  of October 31, 2007, Tedder, James, Worden & Associates, P.A. (“Tedder
                  James”), was dismissed by the Registrant as the auditor for the
                  Registrant. The dismissal was recommended and approved by the board
                  of
                  directors of the Registrant on October 29, 2007. The Registrant
                  does not
                  have an audit or similar committee. Tedder James audited the Registrant's
                  consolidated balance sheet as of December 31, 2006 and the related
                  consolidated statements of operations, stockholders' equity (capital
                  deficiency), and cash flows for the two years ended December 31,
                  2006 and
                  2005. Tedder James' report on the financial statements for the
                  previous
                  two fiscal years did not contain an adverse opinion or a disclaimer
                  of
                  opinion, nor was it qualified or modified as to audit scope or
                  accounting
                  principles; however, the report contained a modification paragraph
                  that
                  expressed substantial doubt about the Registrant's ability to continue
                  as
                  a going concern. There were no disagreements with Tedder James
                  on any
                  matter of accounting principles or practices, financial statement
                  disclosure, or auditing scope or procedure, which if not resolved
                  to the
                  satisfaction of Tedder James would have caused Tedder James to
                  make
                  reference to the matter in its report. There were no "reportable
                  events"
                  as that term is described in Item 304(a)(1)(iv)(B) of Regulation
                  S-B.
 
 On
        October 31, 2007, the Registrant engaged Bagell, Josephs, Levine & Company,
        L.L.C. as the independent accountant for the Registrant to audit the
        Registrant's financial statements. Prior to engaging the new accountant,
        neither
        the Registrant nor any one on the Registrant's behalf consulted with the
        new
        accountant on any matter except to ascertain whether the accountant had the
        time
        and resources to accept the Registrant as a new client.
  Item
      8A.  Controls and
      Procedures





Evaluation
        of Disclosure
        Controls and Procedures
 
 We
        conducted an evaluation under the supervision and with the participation
        of our
        management, including our Chief Executive Officer and Chief Financial Officer,
        of the effectiveness of the design and operation of our disclosure controls
        and
        procedures. The term “disclosure controls and procedures,” as defined in Rules
        13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934, as
        amended (“Exchange Act”), means controls and other procedures of a company that
        are designed to ensure that information required to be disclosed by the company
        in the reports it files or submits under the Exchange Act is recorded,
        processed, summarized and reported, within the time periods specified in
        the
        Securities and Exchange Commission's rules and forms. Disclosure controls
        and
        procedures also include, without limitation, controls and procedures designed
        to
        ensure that information required to be disclosed by a company in the reports
        that it files or submits under the Exchange Act is accumulated and communicated
        to the company's management, including its principal executive and principal
        financial officers, or persons performing similar functions, as appropriate,
        to
        allow timely decisions regarding required disclosure. Based on this evaluation,
        our Chief Executive Officer and Chief Financial Officer concluded as of December
        31, 2007 that our disclosure controls and procedures were not effective at
        the
        reasonable assurance level due to the material weaknesses in our internal
        controls over financial reporting discussed immediately below.
 
 Management’s
        Report on
        Internal Control Over Financial Reporting
 
 Our
        management is responsible for establishing and maintaining adequate internal
        control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f)
        under the Exchange Act. Our internal control over financial reporting is
        designed to provide reasonable assurance regarding the reliability of financial
        reporting and the preparation of financial statements for external purposes
        in
        accordance with generally accepted accounting principles.  Our evaluation of internal
        control over
        financial reporting includes using the COSO framework, an integrated framework
        for the evaluation of internal controls issued by the Committee of Sponsoring
        Organizations of the Treadway Commission, to identify the risks and control
        objectives related to the evaluation of our control environment.  The
        internal controls for the Company are provided by executive management’s review
        and approval of all transactions.Our internal control over
        financial reporting also includes those policies and procedures
        that:
 
 (1)
        pertain to the maintenance of records that in reasonable detail accurately
        and
        fairly reflect the transactions and dispositions of our assets;
 (2)
        provide reasonable assurance that transactions are recorded as necessary
        to
        permit preparation of financial statements in accordance with U.S. GAAP,
        and
        that our receipts and expenditures are being made only in accordance with
        the
        authorization of our management; and
 (3)
        provide reasonable assurance regarding prevention or timely detection of
        unauthorized acquisition, use or disposition of our assets that could have
        a
        material effect on the financial statements.
 
 Because
        of its inherent limitations, internal control over financial reporting may
        not
        prevent or detect misstatements. Also, projections of any evaluation of
        effectiveness to future periods are subject to the risk that controls may
        become
        inadequate because of changes in conditions, or that the degree of compliance
        with the policies or procedures may deteriorate.
 
 Management
        assessed the effectiveness of our internal control over financial reporting
        as
        of December 31, 2007. This annual report does not include an attestation
        report of our registered public accounting firm regarding internal control
        over
        financial reporting. Management's report was not subject to attestation by
        our
        registered public accounting firm pursuant to temporary rules of the Securities
        and Exchange Commission that permits us to provide only management's report
        in
        this annual report.
 
 Identified
        Material Weaknesses
 A
        material weakness is a control deficiency, or combination of control
        deficiencies, that results in more than a remote likelihood that a material
        misstatement of the financial statements will not be prevented or
        detected.
 
 Management
        identified the following material weaknesses during
        its assessment of our internal control over financial reporting as of
        December 31, 2007:
 ·
              one
                  individual who, as an officer
                  and director of the Company, has sole access and authority to receive
                  cash
                  and make cash disbursements.
 
 Management’s
        Remediation Initiatives
 
 As
        a
        result of our findings, we have begun to remediate the deficiency.  In
        an effort to remediate the identified material weakness and enhance our internal
        controls, we have initiated, or plan to initiate, the following series of
        measures:
 
 1.
              Identify
                  and/or retain a second employee or member of management who is
                  appropriately trained who will also have duel control with respect
                  to the
                  receipt of cash and the making of cash disbursements;
                  and2.
              Establish
                  formal general accounting policies and procedures.
 Additionally,
        we plan to test our updated controls and remediate our deficiencies by December
        31, 2008.
 Conclusion
 As
        a
        result of management's assessment of the effectiveness of our internal control
        over financial reporting as of December 31, 2007, and the identification
        of the
        material weakness set forth above, management has concluded that our internal
        control over financial reporting is not effective.  It is reasonably
        possible that, if not remediated, the material weaknesses noted above, could
        result in a material misstatement in our reported financial statements that
        might result in a material misstatement in a future annual or interim
        period.  In light of the identified material
        weakness and the conclusion that our internal control over financial reporting
        is not effective, management will take the remediation initiatives set forth
        above.  In addition management performed (1) additional review of the
        area described above, and (2) performed additional analyses, including but
        not
        limited to a detailed balance sheet and statement of operations analytical
        review. These procedures were completed so management could gain assurance
        that
        the financial statements and schedules included in this Form 10-KSB/A fairly
        present in all material respects the financial position, results of operations
        and cash flows for the periods presented.
 
 Changes
        in Internal Control
        over Financial Reporting
 
 The
        changes noted above, are the only changes during our most recently completed
        fiscal quarter that have materially affected or are reasonably likely to
        materially affect, our internal control over financial reporting, as required
        by
        Rules 13a-15(d) and 15d-15(d) under the exchange Act.
 
 We
        have
        had no disagreements with our accountants on accounting or financial
        disclosures.
  Item
      8B. Other Information





During
      the fourth quarter of the fiscal
      year ended December 31, 2007, there was no information required to be reported
      on Form 8-K which was not previously reported.





-
          26 -


PART
      III





Item
      9. Directors and Executive Officers of the Registrant





The
      following table sets forth the names, ages, and positions with TTIN for each
      of
      the directors and officers of TTIN.





Name
            Age
            Position(s)Chris
                Trina
            44
            Chief
                Executive Officer, President, Secretary and DirectorRobert
                J. Calamunci
            51
            Chief
                Financial Officer and Chief Accounting OfficerWilliam
                Parsons
            59
            DirectorSandy
                W. Shultz, M.D.
            54
            Director





Chris
      Trina




On
      September 7, 2007 the Board of Directors appointed Chris Trina President,
      Secretary, Director and Chief Executive Officer.  Prior to joining
      TTIN, Mr. Trina was a Senior Investment Advisor with National Securities
      Corporation from November 2006 through March 2007. Mr. Trina was the
      President of Secure Financial Assets Group, a retail brokerage firm, from
      September 2005 through September 2006. From September 1997 to August 2005,
      Mr. Trina was the Senior Vice President of Sales at Gunnallen Financial,
      Inc. Since June 1997, Mr. Trina has been the President and sole stockholder
      of Windsor Financial Holdings, Inc, a private investment banking and insurance
      firm. Mr. Trina has twenty-one years Wall Street experience and received
      his Bachelor of Science degree for the University of South Florida in
      1985.




Rafael
      L. Marte




On
      April
      28, 2008, Robert J. Calamunci was appointed Chief Financial Officer and
      Principal Accounting Officer of TTIN. Mr.
      Calamunci holds the credentials of Certified Public Accountant as well as
      Certified Financial PlannerTM. Robert also holds a Masters Degree in Taxation
      from Pace University as well as a BBA in Accounting. Mr. Calamunci has numerous
      securities licenses; series 27, 24, 7, 65, 4, 9, and 10.  
Mr.
      Calamunci currently is working for Zucker & Associates, LLP, a CPA firm in
      Marlboro, NJ. There he specializes in taxation as well as hedge fund accounting
      and broker/ dealer accounting. Mr. Calamunci has almost 30 years of experience
      in accounting and taxation while working for fortune 500 companies and broker
      /
      dealers in the securities industry.   Robert’s
      specific employment history for the past seven years is as
      follows:




Dec.,
      2007 - Present - Zucker & Associates, CPAs. Marlboro, NJ.


April,
      2007 - Dec., 2007 - Self employed (accounting, etc.). Tinton Falls,
      NJ.


Mar,
      2006
      - April, 2007 - Refco Securities – CFO, NY, NY.


Aug.,
      2004 - Feb., 2006 - Utendahl Capital Partners' LP – CFO, NY, NY.


Aug.,
      2002 - July, 2002 - Self employed (accounting). Tinton Falls, NJ.


Apr.,
      2001 - July, 2002 - E Street Access - VP, Accounting, Marlboro, NJ.




William
      Parsons




Mr.
      Parsons has served as a Director of the Company since August 2004.
      Mr. Parsons was a Partner with Arthur Anderson from 1992-2002.
      Mr. Parsons is currently an Executive Vice President and Partner with
      SENN-Delaney Leadership, where he has been since 2002. In addition,
      Mr. Parsons is the general partner of Parsons Partners. Mr. Parsons
      received his Bachelor of Science degree at Clarkson University and his Masters
      in Business Administration from UCLA.






-
          27 -





Sandy
      W. Shultz, M.D.


Effective
      January 14, 2008, Sandy W. Shultz, M.D. was elected to the Board of Directors
      of
      TTIN.  Dr. Shultz graduated from George Washington University School
      of Medicine where he served as senior class president.  After
      completing his Internal Medicine internship at the Veterans Administration
      Medical Center, in Washington, D.C., Dr. Shultz completed a residency and became
      Chief Resident Department of Radiology at George Washington
      University.  In 1985 and 1986 Dr. Shultz completed a Fellowship in
      Vascular and Interventional Radiology.  Dr. Shultz has been published
      in medical journals on various topics.  Dr. Shultz currently serves as
      Vice Chairman in the Department of Radiology at the Brandon Regional Hospital
      in
      Brandon, Florida.  Dr. Shultz has been married for thirty
      years.  He and his wife, Shelley have three children and currently
      reside in Tampa, Florida.





TTIN’s
      officers and directors have not been involved, during the past five years,
      in
      any bankruptcy proceedings, conviction or criminal proceedings; have not been
      subject to any order, judgment, or decree, not subsequently reversed or
      suspended or vacated, of any court of competent jurisdiction, permanently or
      temporarily enjoining, barring, suspending or otherwise limiting his involvement
      in any type of business, securities or banking activities; and have not been
      found by a court of competent jurisdiction, the Securities and Exchange
      Commission or the Commodity Futures Trading Commission to have violated a
      federal or state securities or commodities law.





There
      have been no changes in the procedures by which security holders may recommend
      nominees to TTIN’s Board of Directors.





The
      Board
      of Directors does not currently have a standing audit committee.





TERM
      OF
      OFFICE





Our
      Directors are appointed for terms of one year to hold office until the next
      annual general meeting of the holders of our common stock, or until removed
      from
      office in accordance with our bylaws. Our officers are appointed by our board
      of
      directors and hold office until removed by the board.





SIGNIFICANT
      EMPLOYEES





We
      have
      no significant employees other than the officers and the directors described
      above.





Section
      16(A) Beneficial Ownership Reporting Compliance





Based
      upon a review of Forms 3 and 4 and amendments thereto furnished to TTIN during
      the 2007 fiscal year, the following table details non-compliance with Section
      16(a) of the Exchange Act of 1934.





Name
            Late
                Reports
            Transactions
                not Reported
            Reports
                not FiledChris
                Trina
            
            2
            3Rafael
                L. Marte
            
            
            2Dwight
                Day
            
            1
            2William
                Parsons
            
            1
            2Charles
                Wernicke
            
            1
            2





TTIN
      intends to assist its officers and directors in meeting their reporting
      requirements in the fiscal year ending December 31, 2008.





-
          28 -


Item
      10. Executive Compensation





Summary
      Compensation Table





Name
                and principal position
            Year
            Salary
            TotalChris
                Trina, CEO (1)
            2007
            $108,242
            $108,242Steven
                Weldon, former CEO
            2007
              2006
              2005
            $52,038
              $77,538
              $12,923
            $52,038
              $77,538
              $12,923





(1)  Mr.
      Trina is our current CEO and has a written employment contract with TTIN
      pursuant to which he receives a salary of $240,000 annually.





DIRECTOR
      COMPENSATION





Mr.
      Trina, our chaiman, is a salaried employee of TTIN as indicated above and does
      not receive any additional compensation for his work with the board of
      directors.  The other four members of the board of directors each receive
      $1,000 and 15,000 shares of common stock each month for their service as members
      of the board of directors.





Item
      11. Security Ownership of Certain Beneficial Owners and Management





The
      following table provides certain information about persons or entities known
      to
      TTIN to be the beneficial owner of more than 5% of TTIN’s common
      shares.





Title
                of class
            Name
                and address of beneficial owner
            Amount
                and nature of beneficial ownership(1)
            Percent
                of classCommon
            Chris
                Trina
              2206
                Bay Club Circle
              Tampa,
                FL  33607
            1,570,000
            12.4%Common
            SB
                Investment Trust
              2206
                Bay Club Circle
              Tampa,
                FL  33607
            1,258,124
            10.0%Common
            Gries
                Investment Fund I, LLC
              4830
                W. Kennedy Blvd.
              Tampa,
                FL  33609
            1,060,230
            8.4%Common
            White
                Star, LLC
              15
                Manor Lane
              Lawrence,
                NY  11559
            879,411
            7.0%Common
            Gami,
                LLC
              1900
                S. Harbor City Blvd, #315
              Melbourne,
                FL  33702
            750,000
            5.9%




(1)
      All
      ownership is direct ownership unless noted otherwise.





-
          29 -


The
      following table provides certain information about the beneficial ownership
      of
      our common shares by our officers and directors individually and as a
      group.




Title
                  of class
              Name
                  of beneficial owner
              Amount
                  and nature of beneficial ownership(1)
              Percent
                  of classCommon
              Chris
                  Trina
              1,570,000
              12.4%Common
              Sandy
                  W. Shultz, M.D.
              423,465
              3.4%Common
              William
                  Parsons
              402,180
              3.2%Common
              Robert
                  J. Calamunci
              20,000
              0.2%Common
              All
                  officers and directors as a group (6)
              2,415,645
              19.2%


(1)
      All
      ownership is direct ownership unless noted otherwise.








Item
      12. Certain Relationships and Related Transactions





There
      have been no transactions by the company within last two years where either
      the
      company as an issuer, or a director, officer or shareholder of the company,
      had
      an indirect or direct interest other than the purchase by TTIN of the rights
      to
      two patents.  The rights were acquired from the SB Investment Trust in
      exchange for the issuance of 600,000 shares of common stock.  The
      beneficiary of the SB Investment Trust is Susan Burns, the sister of Mr. Chris
      Trina, the CEO and director of TTIN.  Further, Mr. Trina is the
      Trustee of the SB Investment Trust.  In part because of the related
      nature of the purchase, the transaction was approved by the board of directors
      with Mr. Trina abstaining from the vote.





-
          30 -


PART
      IV





Item
      13. Exhibits





Exhibits





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








Item14.  Principal
      Accountant Fees and Services





Fiscal
                  2007Audit
                  Fees (1)
              
              $
              26,000Audit-Related
                  Fees (2)
              
              
              4,500Tax
                  Fees
              
              
              0All
                  other Fees
              
              
              0Total
              
              $
              30,500
 
 (1)
                (2)
              Audit
                  Fees– Audit fees
                  billed to the Company by Bagell, Josephs, Levine & Company, L.L.C. for
                  auditing the Company’s annual financial statements for 2007.
                Audit-Related
                  Fees–
                  Review fees billed to the Company by Bagell, Josephs, Levine &
                  Company, L.L.C. for reviewing the Company’s quarterly financial statements
                  for the quarter ended September 30,
                  2007.


-
          31 -


SIGNATURES








In
      accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused
      this report to be signed on its behalf by the undersigned, thereunto duly
      authorized.





Transfer
      Technology International Corp.








By:          /s/
      Chris Trina


Chris
      Trina, Chief Executive Officer





Date:
      July 28, 2008





In
      accordance with the Securities Exchange Act, this report has been signed below
      by the following persons on behalf of the registrant and in the capacities
      and
      on the dates indicated.








By:  /s/
      Chris Trina


Chris
      Trina, Director and


Principal
      Executive Officer


Date:   July
      28, 2008








By:  /s/
      Robert J. Calamunci


Robert
      J.
      Calamunci


Principal
      Financial Officer and


Principal
      Accounting Officer


Date:   July
      28, 2008






By:  /s/
      William Parsons


William
      Parsons, Director


Date:   July
      28, 2008








By:  /s/
      Sandy W. Shultz, M.D.


Sandy
      W. Shultz, M.D., Director


Date:   July
      28, 2008








-
          32 -