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| 1.   | I      have reviewed this annual report on Form 10-K of TELIPHONE      CORP.; |
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| 2.   | Based      on my knowledge, this report does not contain any untrue statement of a      material fact or omit to state a material fact necessary to make the      statements made, in light of the circumstances under which such statements      were made, not misleading with respect to the period covered by this      report; |
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| 3.   | Based      on my knowledge, the financial statements, and other financial information      included in this report, fairly present in all material respects the      financial condition, results of operations and cash flows of the small      business issuer as of, and for, the periods presented in this      report; |
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| 4.   | The small business      issuer's other certifying officer(s) and I are      responsible for establishing and maintaining disclosure controls and      procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and      internal control over financial reporting (as defined in Exchange Act      Rules 13a-15(f) and 15d-15(f)) for the small business issuer and      have:                                                                     |
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|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|           | a. Designed such      disclosure controls and procedures, or caused such disclosure      controls and procedures to be designed under our supervision, to ensure      that material information relating to the small business issuer, including      its consolidated subsidiaries, is made known to us by others within those      entities, particularly during the period in which this report is being      prepared;                                      |
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|           | b.      Designed such internal control over financial reporting, or caused such      internal control over financial reporting to be designed under our      supervision, 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;                                                        |
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|           | c.      Evaluated the effectiveness of the small business issuer's disclosure      controls and procedures and presented in this report our conclusions about      the effectiveness of the disclosure controls and procedures, as of the end      of the period covered by this report based on suchevaluation;                                                                                                                                                |
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|           | d.      Disclosed in this report any change in the small business issuer's      internal control over financial reporting that occurred during the small      business issuer's most recent fiscal quarter (the small business issuer's      fourth fiscal quarter in the case of an annual report) that has materially      affected, or is reasonably likely to materially affect, the small business      issuer's internal control over financialreporting. |

| 5.   | The      small business issuer's other certifying officer(s) and I have disclosed,      based on our most recent evaluation of internal control over financial      reporting, to the small business issuer's auditors and the audit committee      of the small business issuer's board of directors (or persons performing      the equivalent functions): |
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|           |                                                                                                                                                                                                                                                                                                                                                         |
|           | a. All significant      deficiencies and material weaknesses in the design or operation of      internal control over financial reporting which are reasonably likely to      adversely affect the small business issuer's ability to record, process,      summarize and report financial information;  and                                                 |
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|           | b.      Any fraud, whether or not material, that involves management or other      employees who have a significant role in the small business issuer's      internal control over financialreporting.                                                                                                                                                       |

| By:      /s/ George Metrakos          |   |   |   |   |
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| George      Metrakos                  |   |   |   |   |
| Principal      Financial Officer |   |   |   |   |
| December      19, 2008                |   |   |   |   |