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| 1.   | I                  have reviewed this annual report on Form 10-KSB 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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b
.        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 such        evaluation; and

c.        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 financial reporting; and

| 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

|                                                |   |   |   |   |
|-----------------------------------------------------|--------|--------|--------|--------|
| By:                    /s/ George Metrakos          |   |   |   |   |
| George                    Metrakos                  |   |   |   |   |
| Principal                    Financial Officer |   |   |   |   |
| January                    10, 2008                 |   |   |   |   |