----

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**SECURITIES        AND EXCHANGE COMMISSION**

**WASHINGTON,        D.C. 20549**

**FORM        10-QSB**

| **[X]** | **QUARTERLY                  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE****SECURITIES                  EXCHANGE ACT OF 1934** |
|---------|----------------------------------------------------------------------------------------------------------------------------------|

**FOR        THE QUARTERLY PERIOD ENDED: September 30, 2007**

**OR**

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

**FOR        THE TRANSITION PERIOD FROM __________ TO __________**

**Commission        File Number 1-15497**

**RecycleNet        Corporation**

**(Exact        name of small business issuer in its charter)**

| **Utah****(State                  or other jurisdiction of incorporation or                  organization)** |   | **87-0301924****(IRS                  Employer Identification                  No.)** |
|--------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------|

**175        East 400 South, Suite 900, Salt Lake City Utah, 84111**

**(Address        of principal executive offices, including Zip Code)**

**801-531-0404**

**(Issuer's        telephone number)**

----

**RECYCLENET        CORPORATION AND SUBSIDIARIES**

**FORM        10-QSB**

**QUARTER        ENDED September 30, 2007**

**TABLE        OF CONTENTS**

|                                                      |                                                                                                                                                                           | **Page** |
|-----------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
| **PART                  I – FINANCIAL INFORMATION** |                                                                                                                                                                           |
|                                                      |                                                                                                                                                                           |     |
| Item                  1.                                  | Financial                  Statements                                                                                                                                          | 3        |
|                                                      |                                                                                                                                                                           |     |
|                                                      | Condensed                  Consolidated Balance Sheets – September 30, 2007 and December 31, 2006                  (Unaudited)                                           | 3        |
|                                                      |                                                                                                                                                                           |     |
|                                                      | Condensed                  Consolidated Statements of Operations for the Three and Nine Months                  Ended                  September 30, 2007 and 2006 (Unaudited) | 4        |
|                                                      |                                                                                                                                                                           |     |
|                                                      | Condensed                  Consolidated Statements of Cash Flows for the Nine Months Ended                  September                  30, 2007 and 2006 (Unaudited)           | 5        |
|                                                      |                                                                                                                                                                           |     |
|                                                      | Notes                  to Condensed Consolidated Financial Statements                                                                                                          | 6        |
|                                                      |                                                                                                                                                                           |     |
| Item                  2.                                  | Management’s                  Discussion and Analysis                                                                                                                    | 8        |
|                                                      |                                                                                                                                                                           |     |
| Item                  3.                                  | Controls                  and Procedures                                                                                                                                       | 11       |
|                                                      |                                                                                                                                                                           |     |
|                                                      |                                                                                                                                                                           |     |
| **PART                  II – OTHER INFORMATION**    |                                                                                                                                                                           |
|                                                      |                                                                                                                                                                           |     |
| Item                  1.                                  | Legal                  Proceedings                                                                                                                                             | 12       |
|                                                      |                                                                                                                                                                           |     |
| Item                  2.                                  | Changes                  in Securities and Small Business Issuer Purchase of Equity                  Securities                                                                | 12       |
|                                                      |                                                                                                                                                                           |     |
| Item                  3.                                  | Default                  Upon Senior Securities                                                                                                                                | 12       |
|                                                      |                                                                                                                                                                           |     |
| Item                  4.                                  | Submission                  of Matters to a Vote of Security Holders                                                                                                           | 12       |
|                                                      |                                                                                                                                                                           |     |
| Item                  5.                                  | Other                  Information                                                                                                                                             | 12       |
|                                                      |                                                                                                                                                                           |     |
| Item                  6.                                  | Exhibits                  and Reports on Form 8-K                                                                                                                              | 13       |
|                                                      |                                                                                                                                                                           |     |
| Signatures                                           | 14                                                                                                                                                                             |

----

**PART        I – FINANCIAL INFORMATION**

**ITEM        1.   FINANCIAL STATEMENTS**

**RECYCLENET        CORPORATION AND        SUBSIDIARIES**

**CONDENSED        CONSOLIDATED BALANCE SHEETS**

**(UNAUDITED)**

|                                                                                                                                                                                                                                                                                                                                               |   | **September                  30,** |       |   | **December                  31,** |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|------------|--------|-----------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                               |   | **2007**                           |       |   | **2006**                          |   |
| **ASSETS**                                                                                                                                                                                                                                                                                                                                         |   |                               |       |   |                              |   |
| **Current                  Assets**                                                                                                                                                                                                                                                                                                                |   |                               |       |   |                              |   |
| Cash                                                                                                                                                                                                                                                                                                                                               |   | $                                  | 143,622    |   |                              | $      | 315,304 |   |
| Trade                  accounts receivable, net of $2,250 and $2,500 respectively of allowance                  for bad debt                                                                                                                                                                                                                       |   |                               | 34,650     |   |                              |   | 33,468 |   |
| Other                  receivables                                                                                                                                                                                                                                                                                                                 |   |                               | 904        |   |                              |   | 844 |   |
| Prepaid                  expenses                                                                                                                                                                                                                                                                                                                  |   |                               | -          |   |                              |   | 16,022 |   |
|                                                                                                                                                                                                                                                                                                                                               |   |                               |       |   |                              |   |   |   |
| **Total                  Current Assets**                                                                                                                                                                                                                                                                                                          |   |                               | 179,176    |   |                              |   | 365,638 |   |
|                                                                                                                                                                                                                                                                                                                                               |   |                               |       |   |                              |   |   |   |
| **Property                  and Equipment**                                                                                                                                                                                                                                                                                                        |   |                               |       |   |                              |   |   |   |
| Computer                  equipment                                                                                                                                                                                                                                                                                                                |   |                               | 71,607     |   |                              |   | 71,607 |   |
| Less:                  Accumulated depreciation                                                                                                                                                                                                                                                                                                    |   |                               | (45,819    | )      |                              |   | (39,991 | ) |
|                                                                                                                                                                                                                                                                                                                                               |   |                               |       |   |                              |   |   |   |
| **Net                  Property and Equipment**                                                                                                                                                                                                                                                                                                    |   |                               | 25,788     |   |                              |   | 31,616 |   |
|                                                                                                                                                                                                                                                                                                                                               |   |                               |       |   |                              |   |   |   |
| Related                  party receivable                                                                                                                                                                                                                                                                                                          |   |                               | 5,000      |   |                              |   | 5,000 |   |
| Related                  party receivable- Scrap China Corporation                                                                                                                                                                                                                                                                                 |   |                               | 141,515    |   |                              |   | 110,957 |   |
|                                                                                                                                                                                                                                                                                                                                               |   |                               |       |   |                              |   |   |   |
| **Net                  Related Party Receivables**                                                                                                                                                                                                                                                                                                 |   |                               | 146,515    |   |                              |   | 115,957 |   |
|                                                                                                                                                                                                                                                                                                                                               |   |                               |       |   |                              |   |   |   |
| **Total                  Assets**                                                                                                                                                                                                                                                                                                                  |   | $                                  | 351,479    |   |                              | $      | 513,211 |   |
|                                                                                                                                                                                                                                                                                                                                               |   |                               |       |   |                              |   |   |   |
| **LIABILITIES                  AND STOCKHOLDERS' EQUITY**                                                                                                                                                                                                                                                                                          |   |                               |       |   |                              |   |   |   |
| **Current                  Liabilities**                                                                                                                                                                                                                                                                                                           |   |                               |       |   |                              |   |   |   |
| Accrued                  liabilities                                                                                                                                                                                                                                                                                                               |   | $                                  | 11,672     |   |                              | $      | 48,503 |   |
| Deferred                  revenue                                                                                                                                                                                                                                                                                                                  |   |                               | 141,416    |   |                              |   | 135,143 |   |
|                                                                                                                                                                                                                                                                                                                                               |   |                               |       |   |                              |   |   |   |
| **Total                  Current Liabilities**                                                                                                                                                                                                                                                                                                     |   |                               | 153,088    |   |                              |   | 183,646 |   |
|                                                                                                                                                                                                                                                                                                                                               |   |                               |       |   |                              |   |   |   |
| **Stockholders'                  Equity**                                                                                                                                                                                                                                                                                                          |   |                               |       |   |                              |   |   |   |
| Class                  N convertible shares (and Class X shares of Amalco) - $0.01 par                  value;                  70,896,789 shares authorized; 56,800,000 and  60,539,259 N and X                  shares issued and outstanding as of  September 30, 2007 and                  December 31, 2006, respectively |   |                               | 568,000    |   |                              |   | 605,393 |   |
| Common                  shares - $0.01 par value; 179,103,211 shares authorized; 79,091,412                  and                  77,108,214 shares issued and outstanding as of September 30, 2007                  and                  December 31, 2006, respectively                                                                          |   |                               | 790,914    |   |                              |   | 771,082 |   |
| Additional                  paid-in capital                                                                                                                                                                                                                                                                                                        |   |                               | 4,462      |   |                              |   | 34,315 |   |
| Accumulated                  deficit                                                                                                                                                                                                                                                                                                               |   |                               | (1,164,985 | )      |                              |   | (1,081,225 | ) |
|                                                                                                                                                                                                                                                                                                                                               |   |                               |       |   |                              |   |   |   |
| **Total                  Stockholders' Equity**                                                                                                                                                                                                                                                                                                    |   |                               | 198,391    |   |                              |   | 329,565 |   |
|                                                                                                                                                                                                                                                                                                                                               |   |                               |       |   |                              |   |   |   |
| **Total                  Liabilities and Stockholders' Equity**                                                                                                                                                                                                                                                                                    |   | $                                  | 351,479    |   |                              | $      | 513,211 |   |

----

**RECYCLENET        CORPORATION AND SUBSIDIARIES**

**CONDENSED        CONSOLIDATED STATEMENTS OF OPERATIONS**

**(UNAUDITED)**

|                                                                      |   | **For                  The Three Months** |        |   | **For                  The Nine Months** |   |
|---------------------------------------------------------------------------|--------|-------------------------------------------|-------------|--------|------------------------------------------|--------|
|                                                                      |   | **Ended                  September 30,**  |        |   | **Ended                  September 30,** |   |
|                                                                      |   | **2007**                                  |        |   | **2006**                                 |   |   | **2007** |   |   | **2006** |   |
| **Sales**                                                                 |   | $                                         | 225,511     |   |                                     | $      | 279,329 |   |   | $ | 789,673 |   |   | $ | 832,976 |   |
| **Operating                  Expenses**                                   |   |                                      |        |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| Selling,                  general and administrative expenses             |   |                                      | 245,910     |   |                                     |   | 223,094 |   |   |   | 788,894 |   |   |   | 755,199 |   |
| Foreign                  currency exchange (gain) loss                    |   |                                      | 2,825       |   |                                     |   | (111 | ) |   |   | 3,195 |   |   |   | 232 |   |
| **Total                  Operating Expenses**                             |   |                                      | 248,735     |   |                                     |   | 222,983 |   |   |   | 792,089 |   |   |   | 755,431 |   |
| **Income                  From Continuing Operations**                    |   |                                      | (23,224     | )      |                                     |   | 56,346 |   |   |   | (2,416 | ) |   |   | 77,545 |   |
| **Discontinued                  Operations**                              |   |                                      |        |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| Loss                  from discontinued operations - Oldwebsites.com, Inc |   |                                      | (9,397      | )      |                                     |   | (1,754 | ) |   |   | (32,935 | ) |   |   | (1,405 | ) |
| Loss                  from discontinued operations - Scrap China Corp.    |   |                                      | -           |   |                                     |   | - |   |   |   | - |   |   |   | (4,494 | ) |
| **Net                  Income (Loss)**                                    |   | $                                         | (32,621     | )      |                                     | $      | 54,592 |   |   | $ | (35,351 | ) |   | $ | 71,646 |   |
|                                                                      |   |                                      |        |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| **Basic                  Income (Loss) Per Common Share From**            |   |                                      |        |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| Continuing                  Operations                                    |   | $                                         | -           |   |                                     | $      | - |   |   | $ | - |   |   | $ | - |   |
| Discontinued                  Operations                                  |   |                                      | -           |   |                                     |   | - |   |   |   | - |   |   |   | - |   |
| **Basic                  Income (Loss) Per Common Share**                 |   | $                                         | -           |   |                                     | $      | - |   |   | $ | - |   |   | $ | - |   |
| **Diluted                  Income (Loss) Per Common Share From**          |   |                                      |        |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| Continuing                  Operations                                    |   | $                                         | -           |   |                                     | $      | - |   |   | $ | - |   |   | $ | - |   |
| Discontinued                  Operations                                  |   |                                      | -           |   |                                     |   | - |   |   |   | - |   |   |   | - |   |
| **Diluted                  Income (Loss) Per Common Share**               |   | $                                         | -           |   |                                     | $      | - |   |   | $ | - |   |   | $ | - |   |
| **Basic                  Weighted-Average Common Shares Outstanding**     |   |                                      | 77,709,515  |   |                                     |   | 77,108,214 |   |   |   | 77,310,850 |   |   |   | 77,108,214 |   |
| **Diluted                  Weighted-Average Common Shares Outstanding**   |   |                                      | 134,509,515 |   |                                     |   | 137,647,473 |   |   |   | 134,110,850 |   |   |   | 137,647,473 |   |

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**RECYCLENET        CORPORATION AND        SUBSIDIARIES**

**CONDENSED        CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(UNAUDITED)**

| ***For                  The Nine Months Ended September 30,***                                                                                        |   | **2007** |     |   | **2006** |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|----------|--------|----------|--------|
| **Cash                  Flows From Operating Activities:**                                                                                            |   |     |     |   |     |   |
| Net                  income (loss)                                                                                                                    |   | $        | (35,351  | )      |     | $      | 71,646 |   |
| Adjustments                  to reconcile net income (loss) to net cash provided by (used in)                  operating                  activities: |   |     |     |   |     |   |   |   |
| Depreciation                                                                                                                                          |   |     | 5,828    |   |     |   | 5,986 |   |
| Foreign                  currency exchange loss                                                                                                       |   |     | 3,195    |   |     |   | 232 |   |
| Changes                  in assets and liabilities:                                                                                                   |   |     |     |   |     |   |   |   |
| Accounts                  and other receivables                                                                                                       |   |     | (770     | )      |     |   | 5,400 |   |
| Allowance                  for Doubtful Accounts                                                                                                      |   |     | (250     | )      |     |   | - |   |
| Prepaid                  expenses                                                                                                                     |   |     | 16,022   |   |     |   | 3,055 |   |
| Accounts                  payable and accrued liabilities                                                                                             |   |     | (47,081  | )      |     |   | (11,391 | ) |
| Deferred                  revenue                                                                                                                     |   |     | 6,490    |   |     |   | 47,188 |   |
|                                                                                                                                                  |   |     |     |   |     |   |   |   |
| **Net                  Cash Provided By (Used In) Operating Activities**                                                                              |   |     | (51,917  | )      |     |   | 122,116 |   |
|                                                                                                                                                  |   |     |     |   |     |   |   |   |
| **Cash                  Flows From Investing Activities:**                                                                                            |   |     |     |   |     |   |   |   |
| Advances                  to related party                                                                                                            |   |     | (30,558  | )      |     |   | (29,147 | ) |
| Purchase                  of property and equipment                                                                                                   |   |     | -        |   |     |   | (23,925 | ) |
| Contribution                  from spin off of Oldwebsites.com                                                                                        |   |     | (51,269  | )      |     |   | - |   |
|                                                                                                                                                  |   |     |     |   |     |   |   |   |
| **Net                  Cash Used In Investing Activities**                                                                                            |   |     | (81,827  | )      |     |   | (53,072 | ) |
|                                                                                                                                                  |   |     |     |   |     |   |   |   |
| **Cash                  Flows From Financing Activities:**                                                                                            |   |     |     |   |     |   |   |   |
| Redemption                  of X/N Shares                                                                                                             |   |     | (47,414  | )      |     |   | - |   |
|                                                                                                                                                  |   |     |     |   |     |   |   |   |
| **Net                  Cash Used In Financing Activities**                                                                                            |   |     | (47,414  | )      |     |   | - |   |
|                                                                                                                                                  |   |     |     |   |     |   |   |   |
| **Effect                  of Exchange Rate Changes on Cash**                                                                                          |   |     | 9,476    |   |     |   | 3,678 |   |
|                                                                                                                                                  |   |     |     |   |     |   |   |   |
| **Net                  Change in Cash**                                                                                                               |   |     | (171,682 | )      |     |   | 72,722 |   |
|                                                                                                                                                  |   |     |     |   |     |   |   |   |
| **Cash                  at Beginning of Period**                                                                                                      |   |     | 315,304  |   |     |   | 226,979 |   |
|                                                                                                                                                  |   |     |     |   |     |   |   |   |
| **Cash                  at End of Period**                                                                                                            |   | $        | 143,622  |   |     | $      | 299,701 |   |
|                                                                                                                                                  |   |     |     |   |     |   |   |   |
| **Non                  Cash Investing and Financing Activities:**                                                                                     |   |     |     |   |     |   |   |   |
| Contribution                  from spin off of Scrap China Corporation                                                                                |   | $        | -        |   |     | $      | 58,624 |   |
| Contribution                  from spin off of Oldwebsites.com                                                                                        |   |     | 48,409   |   |     |   | - |   |
| Conversion                  of 1,983,198 X/N shares to 1,983,198 common shares                                                                        |   |     | 19,832   |   |     |   | - |   |

----

**RECYCLENET        CORPORATION AND SUBSIDIARIES**

**NOTES        TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(UNAUDITED)**

**NOTE        1–ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES**

**Basis        of Presentation —**

**Reclassification**

**Corrected        prior year financial statements**
***-***

**NOTE        2–RELATED PARTY TRANSACTIONS**

**Related        Party Receivable**
**—**

**NOTE        3–STOCKHOLDERS’ EQUITY**

----

**NOTE        4–BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE**

|                                                                                                                                                                                  |   | ** For                  the three months ended** |   | ** For                  the Nine months ended** |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------|--------|------------------------------------------------------|
|                                                                                                                                                                                  |   | ** September                  30,**              |   | ** September                  30,**             |
|                                                                                                                                                                                  |   | **2007**                                              |   | **2006**                                             |   | **2007** | **2006** |
|                                                                                                                                                                                  |   |                                                  |   |                                                 |   |   |   |
| Weighted-average                  number of common shares used in basic income (loss) per common                  share                  calculation                                  |   |        77,709,515  |   |    77,108,214                         |   |        77,310,850 |        77,108,214 |
|                                                                                                                                                                                  |   |                                                  |   |                                                 |   |   |   |
| Incremental                  potentially issuable common shares from assumed conversion of Class                  N (and                  Class X) common shares                      |   |        56,800,000  |   |                    60,539,259                   |   |        56,800,000 |        60,539,259 |
|                                                                                                                                                                                  |   |                                                  |   |                                                 |   |   |   |
| Weighted-average                  number of common shares and dilutive  potential common shares                  used in diluted income (loss) per common share calculation |   |      134,509,515             |   | 137,647,473                                          |   |      134,110,850 |      137,647,473 |

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**NOTE        5–ACQUISITIONS**

**NOTE        6–COMMITMENTS AND CONTINGENCIES**

**ITEM        2. MANAGEMENT'S DISCUSSION AND ANALYSIS**

**Cautionary        Statement Regarding Forward-Looking Statements**

**Overview**

**Results        of Operations**

----

**Sales        Revenues**

|                            |   | **Three                  Months Ended** |    |   | **Nine                  Months Ended** |   |
|---------------------------------|--------|-----------------------------------------|---------|--------|----------------------------------------|--------|
|                            |   | **September                  30,**      |    |   | **September                  30,**     |   |
|                            |   | **2007**                                |    |   | **2006**                               |   |   | **2007** |   |   | **2006** |   |
|                            |   |                                    |    |   |                                   |   |   |   |   |   |   |   |
| Sales                  Revenues |   | $                                       | 225,500 |   |                                   | $      | 279,300 |   |   | $ | 789,700 |   |   | $ | 833,000 |   |

----

**Operating        Expenses**

|                                |   | **Three                  Months Ended** |    |   | **Nine                  Months Ended** |   |
|-------------------------------------|--------|-----------------------------------------|---------|--------|----------------------------------------|--------|
|                                |   | **September                  30,**      |    |   | **September                  30,**     |   |
|                                |   | **2007**                                |    |   | **2006**                               |   |   | **2007** |   |   | **2006** |   |
|                                |   |                                    |    |   |                                   |   |   |   |   |   |   |   |
| Operating                  Expenses |   | $                                       | 245,900 |   |                                   | $      | 223,100 |   |   | $ | 788,900 |   |   | $ | 759,700 |   |

**Net        Profit (Loss) before Discontinued Operations**

|                               |   | **Three                  Months Ended** |    |   | **Nine                  Months Ended** |   |
|------------------------------------|--------|-----------------------------------------|---------|--------|----------------------------------------|--------|
|                               |   | **September                  30,**      |    |   | **September                  30,**     |   |
|                               |   | 2007                                    |    |   | 2006                                   |   |   | 2007 |   |   | 2006 |   |
|                               |   |                                    |    |   |                                   |   |   |   |   |   |   |   |
| Net                  Profit (Loss) |   | $                                       | (23,200 | )      |                                   | $      | 56,300 |   |   | $ | (2,400 | ) |   | $ | 77,500 |   |

**Net        Loss from Discontinued Operations**

|                                                   |   | **Three                  Months Ended** |   |   | **Nine                  Months Ended** |   |
|--------------------------------------------------------|--------|-----------------------------------------|--------|--------|----------------------------------------|--------|
|                                                   |   | **September 30,**                  |   |   | **September                  30,**     |   |
|                                                   |   | 2007                                    |   |   | 2006                                   |   |   | 2007 |   |   | 2006 |   |
|                                                   |   |                                    |   |   |                                   |   |   |   |   |   |   |   |
| Net                  Loss –Oldwebsites.com, Inc. |   | $                                       | (9,397 | )      |                                   | $      | (1,754 | ) |   | $ | (32,935 | ) |   | $ | (1,405 | ) |

----

**Net        Profit (Loss)**

|                               |   | **Three                  Months Ended** |    |   | **Nine                  Months Ended** |   |
|------------------------------------|--------|-----------------------------------------|---------|--------|----------------------------------------|--------|
|                               |   | **September 30,**                  |    |   | **September                  30,**     |   |
|                               |   | 2007                                    |    |   | 2006                                   |   |   | 2007 |   |   | 2006 |   |
|                               |   |                                    |    |   |                                   |   |   |   |   |   |   |   |
| Net                  Profit (Loss) |   | $                                       | (32,621 | )      |                                   | $      | 54,592 |   |   | $ | (35,351 | ) |   | $ | 71,646 |   |

**Liquidity        and Capital Resources**

|                          |   | **September                  30,** |    |   | **December                  31,** |   |
|-------------------------------|--------|------------------------------------|---------|--------|-----------------------------------|--------|
|                          |   | **2007**                           |    |   | **2006**                          |   |
|                          |   |                               |    |   |                              |   |
| Cash                  on Hand |   | $                                  | 143,600 |   |                              | $      | 315,300 |   |

**Deferred          Revenue**

|   |   | **September                  30,** |    |   | **December                  31,** |   |
|--------|--------|------------------------------------|---------|--------|-----------------------------------|--------|
|   |   | **2007**                           |    |   | **2006**                          |   |
|   |   | $                                  | 141,400 |   |                              | $      | 135,100 |   |

**ITEM        3. CONTROLS AND PROCEDURES**

----

**PART        II – OTHER INFORMATION**

| **ITEM                  1.** | **LEGAL                  PROCEEDINGS** |
|------------------------------|----------------------------------------|

| **ITEM                  2.** | **CHANGES                  IN SECURITIES AND SMALL BUSINESS ISSUER PURCHASE OF EQUITY                  SECURITIES** |
|------------------------------|---------------------------------------------------------------------------------------------------------------------|

| **ITEM                  3.** | **DEFAULT                  UPON SENIOR SECURITIES** |
|------------------------------|-----------------------------------------------------|

| **ITEM                  4.** | **SUBMISSION                  OF MATTERS TO A VOTE OF SECURITY                  HOLDERS** |
|------------------------------|-------------------------------------------------------------------------------------------|

| **ITEM                  5.** | **OTHER                  INFORMATION** |
|------------------------------|----------------------------------------|

----

| **ITEM                  6.** | **EXHIBITS                  AND REPORTS ON FORM 8-K** |
|------------------------------|-------------------------------------------------------|

| Exhibit | Description |
|---------|-------------|

| 31.1 | Certification                  of the Chief Executive Officer pursuant to Section 302 of the                  Sarbanes-Oxley Act of 2002 |
|------|------------------------------------------------------------------------------------------------------------------------------------------|

| 31.2 | Certification                  of the Chief Financial Officer pursuant to Section 302 of the                  Sarbanes-Oxley Act of 2002 |
|------|------------------------------------------------------------------------------------------------------------------------------------------|

| 32.1 | Certification                  of Chief Executive Officer pursuant to U.S.C Section 1350 as adopted                  pursuant to Section 906 of the Sarbanes-Oxley Act of                  2002 |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.2 | Certification                  of Chief Financial Officer pursuant to U.S.C Section 1350 as adopted                  pursuant to Section 906 of the Sarbanes-Oxley Act of                  2002 |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**SIGNATURES**

|                             | RecycleNet                  Corporation                                                                                                                                                                                                                                                                                                                                                                                                           |
|----------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| August                  14, 2007 | /s/                Paul                Roszel                                                                               |
|                             | Paul                  Roszel, President and Chairman of the Board of                                                                                                                                                                                                                                                                                                                                                                              |
|                             | Directors                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                             |                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| August                  14, 2007 | /s/                Richard Ivanovick                                                                                                                                     |
|                             | Richard                  Ivanovick, C.A., Chief Financial and                                                                                                                                                                                                                                                                                                                                                                                     |
|                             | Accounting                  Officer                                                                                                                                                                                                                                                                                                                                                                                                               |

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