Exhibit 31.2
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                            CERTIFICATION PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Edward F. Cowle,  Principal Accounting Officer of Calypso Financial Services,
Inc., certify that:

1.        I have reviewed this annual report on Form 10-KSB of Calypso Financial
          Services, Inc.;

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;

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;

4.        The  small  business  issuer's  other  certifying  officer  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:

                  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;

                  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;

                  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 such evaluation; and

                  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 financial reporting; and

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5.       The  small  business  issuer's  other  certifying  officer  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):

                  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

                  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 financial
                  reporting.

Date: February 14, 2007

/S/   EDWARD F. COWLE
--------------------------------
Edward F. Cowle
Principal Accounting Officer

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