----

----

|   | QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d)OF |
|--------|---------------------------------------------------------|

|   | THE      SECURITIES EXCHANGE ACT OF1934 |
|--------|-----------------------------------------|

|    ROYAL INVEST INTERNATIONAL CORP.                |
|-------------------------------------------------------------------|
| (Exact      name of registrant as specified in its  charter) |

| Delaware                                                                 |   | 98-0215778                                |
|--------------------------------------------------------------------------|--------|-------------------------------------------|
| (State      or other jurisdiction of      incorporation or organization) |   | (I.R.S.      Employer Identification No.) |

|  595 Fifth Avenue, 4th      Floor              |   |            |
|-----------------------------------------------------|--------|-----------------|
|  New York, New York,      USA             |   | 10017           |
|  (Address of      principal executive offices) |   | (Zip      Code) |

|  Large      accelerated filer    |  Accelerated      filer     |  Non-accelerated      filer       |  Smaller      reporting company    x |
|--------------------------------------------------------------|--------------------------------------------------------------|------------------------------------------------------------------------------|----------------------------------------------------------|

----

TABLEOF CONTENT

| Item #       |   | Description                                                                                |   | Page    Numbers |
|--------------|--------|--------------------------------------------------------------------------------------------|--------|-----------------|
|         |   |                                                                                       |   |            |   |
|         |   | PART      I                                                                                |   |  4         |   |
|         |   |                                                                                       |   |            |   |
| ITEM 1       |   | FINANCIAL STATEMENTS                                                                       |   | 4               |   |
|         |   |                                                                                       |   |            |   |
|  ITEM 2 |   | MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION      AND RESULTS OF OPERATIONS |   | 22              |   |
|         |   |                                                                                       |   |            |   |
| ITEM 3       |   | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET      RISK                            |   |  28        |   |
|         |   |                                                                                       |   |            |   |
| ITEM 4       |   | CONTROLS AND PROCEDURES                                                                    |   | 28              |   |
|         |   |                                                                                       |   |            |   |
| ITEM 4T      |   | CONTROLS AND PROCEDURES                                                                    |   | 28              |   |
|         |   |                                                                                       |   |            |   |
|         |   | PART      II                                                                               |   |  29        |   |
|         |   |                                                                                       |   |            |   |
| ITEM 1       |   | LEGAL PROCEEDINGS                                                                          |   | 29              |   |
|         |   |                                                                                       |   |            |   |
| ITEM 1A      |   | RISK FACTORS                                                                               |   |  29        |   |
|         |   |                                                                                       |   |            |   |
| ITEM 2       |   | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF      PROCEEDS                           |   | 32              |   |
|         |   |                                                                                       |   |            |   |
| ITEM 3       |   | DEFAULTS UPON SENIOR SECURITIES                                                            |   |  33        |   |
|         |   |                                                                                       |   |            |   |
| ITEM 4       |   | SUBMISSION OF MATTERS TO A VOTE OF SECURITY      HOLDERS                                   |   | 33              |   |
|         |   |                                                                                       |   |            |   |
| ITEM 5       |   | OTHER INFORMATION                                                                          |   | 33              |   |
|         |   |                                                                                       |   |            |   |
| ITEM 6       |   | EXHIBITS                                                                                   |   |  34        |   |
|         |   |                                                                                       |   |            |   |
|         |   | SIGNATURES                                                                                 |   | 36              |   |
|         |   |                                                                                       |   |            |   |
| EXHIBIT31.1  |   | SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE      OFFICER                                  |   |            |   |
|         |   |                                                                                       |   |            |   |
| EXHIBIT 31.2 |   | SECTION 302 CERTIFICATION OF CHIEF FINANCIAL      OFFICER                                  |   |            |   |
|         |   |                                                                                       |   |            |   |
| EXHIBIT 32.1 |   | SECTION 906 CERTIFICATION OF CHIEF EXECUTIVE      OFFICER                                  |   |            |   |
|         |   |                                                                                       |   |            |   |
| EXHIBIT 32.2 |   | SECTION 906 CERTIFICATION OF CHIEF FINANCIAL      OFFICER                                  |   |            |   |

----

Table ofContent

|   |    |                                                                                                                                                                                                                  |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | • | risks      arising from material weaknesses in our internal control over financial      reporting, including material weaknesses in our control      environment;                                                     |
|   |    |                                                                                                                                                                                                                  |
|   | • | our      ability to attract new clients and retain existing  clients;                                                                                                                                                 |
|   |    |                                                                                                                                                                                                                  |
|   | • | our      ability to retain and attract key employees;                                                                                                                                                                 |
|   |    |                                                                                                                                                                                                                  |
|   | • | risks      associated with assumptions we make in connection with our critical      accounting estimates;                                                                                                             |
|   |    |                                                                                                                                                                                                                  |
|   | • | potential      adverse effects if we are required to recognize impairment charges or      other adverse accounting-related developments;                                                                              |
|   |    |                                                                                                                                                                                                                  |
|   | • | potential      adverse developments in connection with the ongoing Securities and      Exchange Commission (“SEC”) investigation;                                                                         |
|   |    |                                                                                                                                                                                                                  |
|   | • | potential      downgrades in the credit ratings of our securities;                                                                                                                                                    |
|   |    |                                                                                                                                                                                                                  |
|   | • | risks      associated with the effects of global, national and regional economic and      political conditions, including fluctuations in economic growth rates,      interest rates and currency exchange rates; and |
|   |    |                                                                                                                                                                                                                  |
|   | • | developments      from changes in the regulatory and legal environment for advertising and      marketing and communications services companies around the      world.                                                |

----

Table of Content

PARTI

ITEM1           FINANCIALSTATEMENTS

Table of Content

| Consolidated      Balance Sheets as of March 31, 2008 (Unaudited) and December 31, 2007      (Audited) | Page      1 |
|--------------------------------------------------------------------------------------------------------|-------------|

| Consolidated      Statements of Operations for the three months ended March 31, 2008 and      2007 (Unaudited)  | 2 |
|----------------------------------------------------------------------------------------------------------------------|---|

| Consolidated      Statements of Cash Flows for the three months ended March 31, 2008 and      2007 (Unaudited) | 3 |
|----------------------------------------------------------------------------------------------------------------|---|

| Notes      to Consolidated Financial Statements (Unaudited) | 4 |
|-------------------------------------------------------------|---|

----

Table of Content

| ROYAL      INVEST INTERNATIONAL CORP. AND SUBSIDIARIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |
| CONDENSED      CONSOLIDATED BALANCE SHEETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | March      31, |   |   | December      31, |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 2008 |   |   | 2007 |   |
|                                                                                                                           ASSETS | (Unaudited) |   |   | (Audited) |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |
| Rental      Property                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |
| Land                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | $ | 26,999,389 |   |   | $ | 25,169,240 |   |
| Buildings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | 131,269,362 |   |   |   | 122,386,233 |   |
| Improvements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   | 2,355,641 |   |   |   | 2,154,076 |   |
| Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | 83,749 |   |   |   | 78,072 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   | 160,708,141 |   |   |   | 149,787,621 |   |
| Less      - accumulated depreciation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   | (903,918 | ) |   |   | (73,307 | ) |
|                     Net Investment in Rental Property                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   | 159,804,223 |   |   |   | 149,714,314 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
| OTHER      ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |   |   |   |   |
| Cash      and Cash Equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 537,997 |   |   |   | 176,765 |   |
| Current      Rents Receivable, Net of Allowance for Doubtful Accounts of $39,500      as of March 31, 2008 and $-0- as of December 31,    2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 1,007,780 |   |   |   | 681,492 |   |
| Other      Receivables                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | 179,802 |   |   |   | 153,124 |   |
| Net      VAT Receivable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | 40,648 |   |   |   | 196,553 |   |
| Income      Tax Receivable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   | 145,880 |   |   |   | 167,559 |   |
| Prepaid      Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 532,474 |   |   |   | 296,169 |   |
| Advance      Payment on Property Purchase                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | 395,000 |   |   |   | - |   |
| Security      Deposits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | 238,683 |   |   |   | 221,767 |   |
| Deferred      Financing Costs, Net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | 3,221,196 |   |   |   | 3,194,726 |   |
|                     Total Assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | $ | 166,103,683 |   |   | $ | 154,802,469 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
| LIABILITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Mortgage      Payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $ | 130,679,093 |   |   | $ | 121,899,165 |   |
| Accounts      Payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 3,269,147 |   |   |   | 3,072,789 |   |
| Accrued      Expenses and other Liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   | 86,418 |   |   |   | 28,519 |   |
| Accrued      Interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 2,177,042 |   |   |   | 77,977 |   |
| Income      Tax Payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | 89,090 |   |   |   | 73,363 |   |
| Loans      Payable - Related Party                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | 46,481 |   |   |   | 110,835 |   |
| Loans      Payable - Other                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   | 376,620 |   |   |   | 381,662 |   |
| Convertible      Notes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | 5,982,893 |   |   |   | 5,354,130 |   |
| Rents      Received in Advance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | - |   |   |   | 327,910 |   |
| Deferred      Income Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   | 1,464,113 |   |   |   | 1,391,165 |   |
| Minority      Interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | 636,898 |   |   |   | 593,726 |   |
| Derivative      Liability                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | 1,442,605 |   |   |   | 3,645,379 |   |
| Total      Liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | 146,250,400 |   |   |   | 136,956,620 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
| STOCKHOLDERS'      EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| Preferred      Stock, $0,001 par value, 1,000,000 shares authorized; 1,000 shares issued      and outstanding                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   | 1 |   |   |   | 1 |   |
| Common      Stock, $0.001 par value; 300,000,000 shares authorized; 150,208,861 issued      and outstanding at March 31, 2008 and December 31, 2007,      respectively                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | 150,209 |   |   |   | 150,209 |   |
| Additional      Paid-In Capital                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 22,282,703 |   |   |   | 22,282,703 |   |
| Accumulated      Other Comprehesive Income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   | 1,538,897 |   |   |   | 234,828 |   |
| Accumulated      Deficit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | (4,118,527 | ) |   |   | (4,821,892 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Total      Stockholders' Equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 19,853,283 |   |   |   | 17,845,849 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
|                      Total Liablities and Stockholders' Equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | $ | 166,103,683 |   |   | $ | 154,802,469 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |
| The      accompanying notes to financial statements are an integral part of these      statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

----

Table of Content

| ROYAL      INVEST INTERNATIONAL COPR. AND SUBSIDIARIES                                             |   |
|----------------------------------------------------------------------------------------------------|--------|
|                                                                                               |   |   |   |   |   |   |
| CONDENSED      CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)                                   |   |
|                                                                                               |   |   |   |   |   |   |
|                                                                                               |   | FOR      THE THREE MONTHS ENDING |   |
|                                                                                               |   | MARCH      31, |   |
|                                                                                               |   | 2008 |   |   | 2007 |   |
| REVENUES                                                                                           |   |   |   |   |   |   |
| Base      Rents                                                                                    |   | $ | 2,734,256 |   |   | $ | - |   |
| Real      Estate Services                                                                          |   |   | 116,612 |   |   |   | - |   |
| Other      Income                                                                                  |   |   | 441,893 |   |   |   | - |   |
|                                                                                               |   |   | 3,292,761 |   |   |   | - |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| EXPENSES                                                                                           |   |   |   |   |   |   |   |   |
| Operating      Services                                                                            |   |   | 768,100 |   |   |   | - |   |
| Real      Estate Taxes                                                                             |   |   | 45,550 |   |   |   | - |   |
| General      and Administrative                                                                    |   |   | 981,411 |   |   |   | 94,000 |   |
| Depreciation                                                                                       |   |   | 782,328 |   |   |   | - |   |
| Total      Expenses.                                                                               |   |   | 2,577,389 |   |   |   | 94,000 |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| OPERATING      INCOME (LOSS)                                                                       |   |   | 715,372 |   |   |   | (94,000 | ) |
|                                                                                               |   |   |   |   |   |   |   |   |
| OTHER      INCOME (EXPENSES)                                                                       |   |   |   |   |   |   |   |   |
| Interest      Income                                                                               |   |   | 310 |   |   |   | - |   |
| Interest      Expense                                                                              |   |   | (2,033,796 | ) |   |   | (7,125 | ) |
| Change      in Value of Derivative Liabilty                                                        |   |   | 2,467,844 |   |   |   | - |   |
| Amortization      - Debt Discount                                                                  |   |   | (270,557 | ) |   |   | - |   |
| Currency      Loss                                                                                 |   |   | (24,547 | ) |   |   | - |   |
| Amortization      - Deferred Financing Costs                                                       |   |   | (135,625 | ) |   |   | - |   |
|                                                                                               |   |   | 3,629 |   |   |   | (7,125 | ) |
|                                                                                               |   |   |   |   |   |   |   |   |
| Income      (Loss) Before Income Taxes                                                             |   |   | 719,001 |   |   |   | (101,125 | ) |
|                                                                                               |   |   |   |   |   |   |   |   |
| Provision      for Income Taxes                                                                    |   |   | 15,636 |   |   |   | - |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| NET      INCOME (LOSS)                                                                             |   | $ | 703,365 |   |   | $ | (101,125 | ) |
|                                                                                               |   |   |   |   |   |   |   |   |
| NET      INCOME (LOSS) PER COMMON SHARE                                                            |   |   |   |   |   |   |   |   |
| Basic      and diluted                                                                             |   | $ | 0.00 |   |   | $ | (0.02 | ) |
|                                                                                               |   |   |   |   |   |   |   |   |
| Weighted      Average Common Shares Outstanding                                                    |   |   |   |   |   |   |   |   |
| Basic      and diluted                                                                             |   |   | 150,208,861 |   |   |   | 4,236,372 |   |
|                                                                                               |   |   |   |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| The      accompanying notes to financial statements are an integral part of these      statements. |   |

----

Table of Content

| ROYAL      INVEST INTERNATERNATIONAL CORP. AND SUBSIDIARIES                                        |   |
|----------------------------------------------------------------------------------------------------|--------|
|                                                                                               |   |   |   |   |   |   |
| CONDENSED      CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)                                   |   |
|                                                                                               |   |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |   |
|                                                                                               |   | FOR      THE THREE MONTHS ENDING |   |
|                                                                                               |   | MARCH      31, |   |
|                                                                                               |   | 2008 |   |   | 2007 |   |
| CASH      FLOWS FROM OPERATING ACTIVITIES                                                          |   |   |   |   |   |   |
| Net      Income (Loss)                                                                             |   | $ | 703,365 |   |   | $ | (101,125 | ) |
|                                                                                               |   |   |   |   |   |   |   |   |
| Adjustments      to reconcile net loss to net cash used in operating      activities:              |   |   |   |   |   |   |   |   |
| Depreciation                                                                                       |   |   | 782,328 |   |   |   | - |   |
| Change      in Value of Derivative Liability                                                       |   |   | (2,467,844 | ) |   |   | - |   |
| Currency      Loss                                                                                 |   |   | 24,547 |   |   |   | - |   |
| Amortization      - Debt Discount                                                                  |   |   | 270,557 |   |   |   | - |   |
| Amortization      - Deferred Financing Costs                                                       |   |   | 135,625 |   |   |   | - |   |
| Provision      for Doubtful Accounts                                                               |   |   | 37,444 |   |   |   | - |   |
| Deferred      Income Tax                                                                           |   |   | (26,741 | ) |   |   | - |   |
| Other                                                                                              |   |   | 2,267 |   |   |   | - |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| Changes      in operating assets and liabilities                                                   |   |   |   |   |   |   |   |   |
| Increase      in Accounts Receivable                                                               |   |   | (299,776 | ) |   |   | - |   |
| Increase      in Other Receivables                                                                 |   |   | (14,781 | ) |   |   | - |   |
| Decrease      in Net VAT Receivable                                                                |   |   | 161,339 |   |   |   | - |   |
| Decrease      Income Tax Receivable                                                                |   |   | 32,269 |   |   |   | - |   |
| Increase      in Prepaid Expenses                                                                  |   |   | (203,592 | ) |   |   | - |   |
| Increase      in Advance Payment on Property Purchase                                              |   |   | (374,443 | ) |   |   | - |   |
| Increase      in Security Deposits                                                                 |   |   | (749 | ) |   |   | - |   |
| Increase      in Accounts Payable                                                                  |   |   | 55,075 |   |   |   | - |   |
| Increase      in Accrued Expenses and Other Liabilities                                            |   |   | 52,920 |   |   |   | 94,000 |   |
| Increase      in Accrued Interest                                                                  |   |   | 1,997,106 |   |   |   | 7,125 |   |
| Increase      in Income Taxes Payable                                                              |   |   | 9,852 |   |   |   | - |   |
| Decrease      in Rents Received in Advance                                                         |   |   | (333,447 | ) |   |   | - |   |
|         Net      cash provided by operating activities     |   |   | 543,321 |   |   |   | - |   |
|                                                                                               |   |   |   |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| CASH      FLOWS FROM INVESTING ACTIVITIES                                                          |   |   |   |   |   |   |   |   |
| Property      Acquired                                                                             |   |   | (42,596 | ) |   |   | - |   |
|         Net      cash used in investing activities         |   |   | (42,596 | ) |   |   | - |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| CASH      FLOWS FROM FINANCING ACTIVITIES                                                          |   |   |   |   |   |   |   |   |
| Bank      overdraft                                                                                |   |   | - |   |   |   | (362 | ) |
| Loans      payable to related party, net                                                           |   |   | (55,875 | ) |   |   | 362 |   |
| Payments      on Mortgages Payable                                                                 |   |   | (79,449 | ) |   |   | - |   |
| Proceeds      from loans payable                                                                   |   |   | 67,847 |   |   |   | - |   |
| Payments      on loans payable                                                                     |   |   | (98,936 | ) |   |   | - |   |
|       Net      cash used in financing activities                     |   |   | (166,413 | ) |   |   | - |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| Net      increase in cash and cash equivalents                                                     |   |   | 334,312 |   |   |   | - |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| Adjustment      for change in exchange rate                                                        |   |   | 26,920 |   |   |   | - |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| Cash      and cash equivalents, beginning of period                                                |   |   | 176,765 |   |   |   | - |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| Cash      and cash equivalents, end of period                                                      |   | $ | 537,997 |   |   | $ | - |   |
|                                                                                               |   |   |   |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |   |   |   |
| The      accompanying notes to financial statements are an integral part of these      statements. |

----

Table of Content

| ROYAL      INVEST INTERNATIONAL CORP.                                                                          |
|----------------------------------------------------------------------------------------------------------------|
| CONSOLIDATED      STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)                                       |
| March      31, 2008                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                           |   |   |   |   |   |   |   |   |   | Accumulated |   |   |   |
|                                                                                                           |   |   |   |   |   |   |   | Aditional |   | Other |   |   | Total |
|                                                                                                           | Preferred      Stock |   | Common      Stock |   |   |   |   | Paid-In |   | Comprehensive |   | Accumulated | Stockholders' |
|                                                                                                           | Shares | Amount | Shares |   | Amount |   | Capital |   | Income |   | Deficit | Equity      (Deficit) |
| Balance      at December 31, 2005                                                                              |   |   | 4,236,372 |   |   |           4,236 |   |         580,696 |   |   |                      - |   |      (654,322) |         (69,390) |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reduction      of accured interest                                                                             |   |   |   |   |   |   |   |           30,067 |   |   |   |   |   |           30,067 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net      Loss for the Year Ended December 31, 2006                                                       |   |   |   |   |   |   |   |   |   |   |   |   |      (340,374) |       (340,374) |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      at December 31, 2006                                                                              |   |   | 4,236,372 |   |   |           4,236 |   |         610,763 |   |   |                      - |   |      (994,696) |       (379,697) |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance      of common stock for cash at $0.10 per share                                                      |   |   | 5,000,000 |   |   |           5,000 |   |         495,000 |   |   |   |   |   |         500,000 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance      of common stock to CEO and CFO for services rendered at $0.12 per      share                     |   |   | 1,975,868 |   |   |           1,976 |   |         235,128 |   |   |   |   |   |         237,104 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Conversion      of debt to common stock at $0.75 per share                                                     |   |   | 544,000 |   |   |              544 |   |         407,456 |   |   |   |   |   |         408,000 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance      of common stock for the acquisition of Amogb B.V. at $1.00 per      share                        |   |   | 2,190,000 |   |   |           2,190 |   |     2,187,810 |   |   |   |   |   |     2,190,000 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance      of common stock for the acquisition of Alfang B.V. at $1.20 per      share                       |   |   | 1,687,500 |   |   |           1,687 |   |     2,023,313 |   |   |   |   |   |     2,025,000 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance      of common stock for the acquisition of properties at $0.2078 per      share                      |   |   | 21,465,885 |   |   |         21,466 |   |     4,439,145 |   |   |   |   |   |     4,460,611 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance      of common stock for debt owed for RIGP1 B.V. acquisition at $0.10 per      share                 |   |   | 15,282,696 |   |   |         15,283 |   |     1,512,987 |   |   |   |   |   |     1,528,270 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance      of preferred and common stock for the acquisition of properties at $0.10      per share          | 1000 | 1 | 97,202,653 |   |   |         97,203 |   |     9,623,061 |   |   |   |   |   |     9,720,265 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance      of common stock for the acquisition of property at $1.20 per      share                          |   |   | 623,887 |   |   |              624 |   |         748,040 |   |   |   |   |   |         748,664 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foreign      Currency Translation                                                                              |   |   |   |   |   |   |   |   |   |   |        234,828 |   |   |         234,828 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      Loss for the Year Ended December 31, 2007                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   (3,827,196) |    (3,827,196) |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      at December 31, 2007                                                                              | 1,000 |                 1 | 150,208,861 |   |   |      150,209 |   |   22,282,703 |   |   |        234,828 |   |   (4,821,892) |   17,845,849 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foreign      Currency Translation                                                                              |   |   |   |   |   |   |   |   |   |   | 1,304,069 |   |   |     1,304,069 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      Income for the Three Months ended March 31, 2008    [Unaudited]                                       |   |   |   |   |   |   |   |   |   |   |   |   |        703,365 |         703,365 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      at March 31, 2008 [Unaudited]                                                                     | 1,000 | 1 | 150,208,861 |   |   | 150,209 |   | 22,282,703 |   |   | 1,538,897 |   | (4,118,527) | 19,853,283 |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|        The      accompanying notes to financial statements are an integral part of these      statements. |

----

Table of Content

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

----

Table of Content

ROYALINVEST INTERNATIONAL CORP. AND SUBSIDIARIES

----

Table of Content

----

Table of Content

----

Table of Content

|   | 1-  The      conversion price is $1.60 unless the price of the Common Stock on the date      of the Conversion  Notice is $1.60 or less, then the Conversion      Price is adjusted to be the average price of the Common Stock for 90 days      prior to the Conversion Notice date reduced by 25% (subject to adjustment      as hereinafter provided). |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2-  Unlike      standard binomial, the minimum payoff is higher than zero, and calculated      as follow: |
|--------|---------------------------------------------------------------------------------------------------------------------|

|   | a) | if      the stock price is greater than $1.60 then (stock price -      $1.60). |
|--------|----|--------------------------------------------------------------------------------|

|   | b) | in      the event the stock price is lower or equal to $1.60, then the minimum      payoff is (the stock price - average price of the Common Stock for 90 days      prior to the Conversion Notice date reduced by  25%). |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Table of Content

----

Table of Content

ROYALINVEST INTERNATIONAL CORP. AND SUBSIDIARY

|   | At      December 31, 2007, minimum future principal payments over the next five      years and in the aggregate are asfollows: |
|--------|--------------------------------------------------------------------------------------------------------------------------------|

|                                                              |   | Amount      to be paid |        |   | Total      Percentage    |   |
|-------------------------------------------------------------------|--------|------------------------|-------------|--------|--------------------------|--------|
|        Year                                                  |   | Yearly                 |        |   | To      be paid Yearly * |   |
| 2008                                                              |   | $                      | 1,735,229   |   |                     |   | 1.25 | % |
| 2009                                                              |   |                   | 2,028,671   |   |                     |   | 1.50 | % |
| 2010                                                              |   |                   | 2,028,671   |   |                     |   | 1.50 | % |
| 2011                                                              |   |                   | 2,615,555   |   |                     |   | 2.00 | % |
| 2012                                                              |   |                   | 2,615,555   |   |                     |   | 2.00 | % |
| Thereafter                                                        |   |                   | 110,875,483 |   |                     |   | 91.75 | % |
|                                                              |   |                   |        |   |                     |   |   |   |
|           Total |   | $                      | 121,889,164 |   |                     |   | 100.00 | % |

| Year   |   | Amount |       |
|--------|--------|--------|------------|
| 2008   |   | $      | 11.169.393 |   |
| 2009   |   |   | 10.075.898 |   |
| 2010   |   |   | 7.179.768  |   |
| 2011   |   |   | 5.648.026  |   |
| 2012   |   |   | 5.543.337  |   |
|   |   |   |       |   |
| Total  |   | $      | 39.616.422 |   |

----

Table of Content

ROYALINVEST INTERNATIONAL CORP. AND SUBSIDIARY

|          |   | For      The Three Months Ended |    |
|---------------|--------|---------------------------------|---------|
|          |   | March      31,                  |    |
|          |   | 2008                            |    |   | 2007 |   |
| Current:      |   |                            |    |   |   |   |
| United States |   | $                               | --      |   |   | $ | -- |   |
| Foreign       |   |                            | 42,377  |   |   |   | -- |   |
|          |   |                            | 42,377  |   |   |   | -- |   |
|          |   |                            |    |   |   |   |   |   |
| Deferred:     |   |                            |    |   |   |   |   |   |
| United States |   |                            | --      |   |   |   | -- |   |
| Foreign       |   |                            | (26,741 | ) |   |   | -- |   |
|          |   |                            | --      |   |   |   | -- |   |
|          |   |                            |    |   |   |   |   |   |
| Totals        |   | $                               | 15,636  |   |   | $ | -- |   |

|               |   | For      The Three Months Ended |       |
|--------------------|--------|---------------------------------|------------|
|               |   | March      31,                  |       |
|               |   | 2008                            |       |   | 2007 |   |
|               |   |                            |       |   |   |   |
| United      States |   | $                               | 2,000,327  |   |   | $ | (101,125 | ) |
| Foreign            |   |                            | (1,296,962 | ) |   |   | -- |   |
|               |   |                            |       |   |   |   |   |   |
|               |   | $                               | 703,365    |   |   | $ | (101,125 | ) |

----

Table of Content

|                                    |   | For      The Three Months Ended |   |
|-----------------------------------------|--------|---------------------------------|--------|
|                                    |   | March      31,                  |   |
|                                    |   | 2008                            |   |   | 2007 |   |
| United      States Statutory Corporate  |   |                            |   |   |   |   |
|   Income      Tax Rate        |   |                            | 34.0   | % |   |   | (34.0 | )% |
| Permanent      Differences              |   |                            | --     | % |   |   | -- | % |
| Change      in Valuation Allowance on   |   |                            |   |   |   |   |   |   |
|   Deferred      Tax Assets    |   |                            | (34.0  | )% |   |   | 34.0 | % |
| Effect      of Foreign Earnings, Net of |   |                            |   |   |   |   |   |   |
|  Allowable      Credits            |   |                            | 2.0    | % |   |   | -- | % |
| Income Tax    (Benefit)                 |   |                            | 2.0    | % |   |   | -- | % |

|                                                     |   | March      31, |       |   | December      31, |   |
|----------------------------------------------------------|--------|----------------|------------|--------|-------------------|--------|
|                                                     |   | 2008           |       |   | 2007              |   |
|                                                     |   |           |       |   |              |   |
| Deferred      Tax Assets (Liabilities) – Long Term |   |           |       |   |              |   |
| Net Operating      Losses                                |   | $              | 729,320    |   |              | $      | 668,000 |   |
| Depreciation                                             |   |           | (1,464,113 | )      |              |   | (1,391,165 | ) |
|                                                     |   |           |       |   |              |   |   |   |
| Valuation    Allowance                                   |   |           | (729,320   | )      |              |   | (668,000 | ) |
|                                                     |   |           |       |   |              |   |   |   |
| Net Deferred Tax      Liability                          |   | $              | (1,464,113 | )      |              | $      | (1,391,165 | ) |

----

Table of Content

----

Table of Content

----

Table of Content

|                                      |   |                      |      |   | Fair      Value Measurements at Reporting Date Using                    |   |
|-------------------------------------------|--------|---------------------------|-----------|--------|-------------------------------------------------------------------------|--------|
|   Description                   |   |  March      31, 2008 |      |   | Quoted      Prices in Active Markets for Identical Assets(Level      1) |   |   | Significant      Other Observable Inputs(Level      2) |   |   | Significant      Unobservable Inputs(Level      3) |   |
|                                      |   |                      |      |   |                                                                    |   |   |   |   |   |   |   |
| Assets:                                   |   | $                         | -         |   |                                                                    | $      | - |   |   | $ | - |   |   | $ | - |   |
|                                      |   |                      |      |   |                                                                    |   |   |   |   |   |   |   |   |   |   |   |
|                                      |   |                      |      |   |                                                                    |   |   |   |   |   |   |   |   |   |   |   |
|                                      |   |                      |      |   |                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Total      Assets                         |   | $                         | -         |   |                                                                    | $      | - |   |   | $ | - |   |   | $ | - |   |
|                                      |   |                      |      |   |                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Liabilities                               |   |                      |      |   |                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Derivative      Instrument ( See Note 3 ) |   | $                         | 1,442,605 |   |                                                                    | $      | - |   |   | $ | - |   |   | $ | 1,442,605 |   |
| Total      Liabilities                    |   | $                         | 1,442,605 |   |                                                                    | $      | - |   |   | $ | - |   |   | $ | 1,442,605 |   |

Table of Content

ITEM2.            MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS

----

Table of Content

----

Table of Content

----

Table of Content

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |  March 31, |      |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------|-----------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | 2007            |      |   | 2006 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |            |      |   |   |   |
|  Revenues                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | $               | 3,292,761 |   |   | $ | - |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |            |      |   |   |   |   |   |
| Operating      Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |            | 768,100   |   |   |   | - |   |
| Real      Estate Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |            | 45,550    |   |   |   | - |   |
| General      and Administrative      Expenses                                                                                                                                             |   |            | 981,411   |   |   |   | 94,000 |   |
| Depreciation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |            | 782,328   |   |   |   | - |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |            |      |   |   |   |   |   |
| Operating Income      (Loss)                                                                                        |   |            | 715,372   |   |   |   | (94,000 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |            |      |   |   |   |   |   |
| Net      Other      Expenses                                                                                                                      |   |            | (3,629    | ) |   |   | (7,125 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |            |      |   |   |   |   |   |
| Net      Income (Loss) Before      Taxes                                                                                 |   |            | 719,001   |   |   |   | (101,125 | ) |
| Provision      for Income      Taxes                                                                                                              |   |            | 15,636    |   |   |   | - |   |
| Net      Loss                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | $               | 703,365   |   |   | $ | (101,125 | ) |

----

Table of Content

----

Table of Content

|                           |                                                                                                                                                              |   |     |   |   | Principal      Balance at |    |       |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|--------|--------|---------------------------|---------|------------|
|                           |                                                                                                                                                              |   | Interest |   |   | March      31, 2008       |    |       |
| Property      Name             | Lender                                                                                                                                                            |   | Rate     |   |   | in      Euros             |    |       | in      Dollars |   | Maturity |
| Kruisweg      855-859          | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      | € | 2,465,000  |   |   | $ | 3,894,700 |   | December      27, 2013 |
| Willemstraat      47, 67 en 69 | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 1,769,700  |   |   |   | 2,796,126 |   | December      27, 2013 |
| Parallelweg      29            | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 3,581,050  |   |   |   | 5,658,059 |   | December      27, 2013 |
| Schinkelwaard      20          | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 3,521,550  |   |   |   | 5,564,049 |   | December      27, 2013 |
| Zuidermolenweg      7          | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 1,099,900  |   |   |   | 1,737,842 |   | December      27, 2013 |
| Productieweg      1            | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 3,223,200  |   |   |   | 5,092,656 |   | December      27, 2013 |
| Stuartweg      2               | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 5,965,300  |   |   |   | 9,425,174 |   | December      27, 2013 |
| Nieuwzeelandweg      10        | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 1,903,150  |   |   |   | 3,006,977 |   | December      27, 2013 |
| Edisonweg      9               | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 657,900    |   |   |   | 1,039,482 |   | December      27, 2013 |
| Mijlweg      7                 | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 2,185,350  |   |   |   | 3,452,853 |   | December      27, 2013 |
| Keulsekade      216            | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 3,723,000  |   |   |   | 5,882,340 |   | December      27, 2013 |
| De      Schans 1802            | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 2,397,850  |   |   |   | 3,788,603 |   | December      27, 2013 |
| De      Berenkoog 53           | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 1,241,850  |   |   |   | 1,962,123 |   | December      27, 2013 |
| Franciscusweg      8-10        | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 16,233,300 |   |   |   | 25,648,614 |   | December      27, 2013 |
| Sloterweg      22              | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 3,002,200  |   |   |   | 4,743,476 |   | December      27, 2013 |
| Emmakade      59-60            | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 5,210,500  |   |   |   | 8,232,590 |   | December      27, 2013 |
| Schepersmaat      4            | Bank      of Schotland PLC                                                                                                                                        |   |     | *      |   |                      |    | 21,510,100 |   |   |   | 33,985,958 |   | December      27, 2013 |
| Tachenweide      12            | SNS      Bank                                                                                                                                                     |   |     | **     |   |                      |    | 3,017,387  |   |   |   | 4,767,471 |   | Mature      *** |
| Total      Mortgages           |                                                                                                                                                              |   |     |   |   |                      | € | 82,708,287 |   |   | $ | 130,679,093 |   |   |
|                           |                                                                                                                                                              |   |     |   |   |                      |    |       |   |   |   |   |   |   |
| *                              | Variable      Interest Rate (Quarterly Euribor + 1,32%). First Interest Payment is due      at April 15, 2008                                                     |
| **                             | Variable      Interest Rate (Monthly Euribor + 2%). At December 31, 2007 this was 6,822      %                                                                    |
| ***                            | Royal      Invest Europe is currently negotiating with the Bank of Schotland to      refinance this object under the terms      of the current Facility Agreement |
| ****                           | Currency      Exchange rate for March 31, 2008 EUR (€) to US ($) =    1,58000                                                                               |

| Year   |   | Amount |       |
|--------|--------|--------|------------|
| 2008   |   | $      | 11.169.393 |   |
| 2009   |   | $      | 10.075.898 |   |
| 2010   |   | $      | 7.179.768  |   |
| 2011   |   | $      | 5.648.026  |   |
| 2012   |   | $      | 5.543.337  |   |
|   |   |   |       |   |
| Total  |   | $      | 39.616.422 |   |

----

Table ofContent

ITEM 3    QUANTITATIVE AND QUALITATIVEDISCLOSURES ABOUT MARKET RISK

ITEM 4    CONTROLS ANDPROCEDURES

ITEM4T   CONTROLS AND PROCEDURES

----

Table of Content

PARTII

ITEM1.             LEGALPROCEEDINGS

ITEM 1A           RISK FACTORS

Factors That May Affect Our Future Results

Cautionary Statements under the Private Securities Litigation ReformAct of 1995.

Certain information included in this report or in other materials wehave filed or will file with the Securities and Exchange Commission (the “SEC”)(as well as information included in oral statements or other written statementsmade or to be made by us) contains or may contain forward-looking statementswithin the meaning of Section 27A of the Securities Act of 1933, as amended. Youcan identify these statements by the fact that they do not relate strictly tohistorical or current facts. They contain words such as “anticipate,”“estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “may,” “can,”“could,” “might” and other words or phrases of similar meaning in connectionwith any discussion of future operating or financial performance. Suchstatements include information relating to anticipated operating results,financial resources, changes in revenues, changes in profitability, interestexpense, growth and expansion, anticipated income to be realized from ourinvestments in unconsolidated entities, the ability to acquire land, the abilityto gain approvals and to open new communities, the ability to sell properties,the ability to secure materials and subcontractors, the ability to produce theliquidity and capital necessary to expand and take advantage of opportunities inthe future, and stock market valuations. From time to time, forward-lookingstatements also are included in our other periodic reports on Forms 10-Q and8-K, in press releases, in presentations, on our website and in other materialreleased to the public.

Any or all of the forward-looking statements included in this reportand in any other reports or public statements made by us may turn out to beinaccurate.  This can occur as a result of incorrect assumptions or as aconsequence of known or unknown risks and uncertainties.  Many factorsmentioned in this report or in other reports or public statements made by us,such as government regulation and the competitive environment, will be importantin determining our future performance. Consequently, actual results may differmaterially from those that might be anticipated from our forward-lookingstatements.

We undertake no obligation to publicly update any forward-lookingstatements, whether as a result of new information, future events or otherwise.However, any further disclosures made on related subjects in our subsequentreports on Forms 10-K, 10-Q and 8-K should be consulted. The followingcautionary discussion of risks, uncertainties and possible inaccurateassumptions relevant to our business includes factors we believe could cause ouractual results to differ materially from expected and historical results. Otherfactors beyond those listed below, including factors unknown to us and factorsknown to us, which we have not determined to be material, could also adverselyaffect us. This discussion is provided as permitted by the Private SecuritiesLitigation Reform Act of 1995, and all of our forward-looking statements areexpressly qualified in their entirety by the cautionary statements contained orreferenced in this section.

----

Table of Content

Our control shareholders may effectively exercise control overmatters requiring shareholder approval.

As of December 31, 2007, ECM Hoff Holding BV beneficially ownsapproximately 49.6% of our outstanding common shares and Muermans Vast GoedRoermond BV beneficially owns approximately 39.5% of our outstanding commonshares.  Together they effectively have the power to elect all of thedirectors and control the management, operations and affairs of our Company.

Our cash flows and results of operations could be adversely affectedif legal claims are brought against us and are not resolved in ourfavor.

Claims have been brought against us in legal proceedings, whichhave not had, and are not expected to have, a material adverse effect on ourbusiness or financial condition.  Should claims be filed in the future, itis possible that our cash flows and results of operations could be affected,from time to time, by the negative outcome of one or more of suchmatters.

Risks Related to Our Business and Properties

We may suffer losses at our properties that are not fully covered byinsurance.

We carry comprehensive liability, fire, extended coverage, terrorismand rental loss insurance covering all of our properties.  We believe thepolicy specifications and insured limits are appropriate given the relative riskof loss, the cost of the coverage and industry practice.  None of theentities carry insurance for generally uninsured losses such as losses fromriots, war, acts of God or mold.  Some of the policies, like those coveringlosses due to terrorism and floods, are insured subject to limitations involvinglarge deductibles or co-payments and policy limits, which may not be sufficientto cover losses.  If we experience a loss which is uninsured or whichexceeds policy limits, we could lose the capital invested in the damagedproperty as well as the anticipated future cash flows from that property. In addition, if the damaged property is subject to recourse indebtedness,we would continue to be liable for the indebtedness, even if it was irreparablydamaged.

Future terrorist attacks in Europe could harm the demand for and thevalue of our properties.

Future terrorist attacks in Europe, such as the attacks thatoccurred in London and Madrid, and other acts of terrorism or war could harm thedemand for, and the value of, our properties.  A decrease in demand couldmake it difficult for us to renew or re-lease our properties at lease ratesequal to, or above, historical rates.  Terrorist attacks also coulddirectly impact the value of our properties through damage, destruction, loss,or increased security costs, and the availability of insurance for these actsmay be limited or costly.  To the extent that our tenants are impacted byfuture attacks, their ability to honor obligations under their existing leaseswith us could be adversely affected.

----

Table of Content

Thevalue of our properties aresubject to risks associated with real estate assets and with the real estateindustry in general.

We depend on our ability to generate revenues in excess ofexpenses, scheduled principal payments on debt and capital expenditurerequirements. Events and conditions generally applicable to owners and operatorsof real property that are beyond our control that could impact the value ofour properties include:

· local oversupply,increased competition or reduction in demand for office, business centers ormultifamily properties;

· inability to collect rentfrom tenants;

· vacancies or our inabilityto rent space on favorable terms;

· increased operating costs,including insurance premiums, utilities and real estate taxes;

· costs of complying withchanges in governmental regulations;

· the relative illiquidityof real estate investments;

· changing marketdemographics; and

· inability to acquire andfinance properties on favorable terms.

In addition, periods of economic slowdown or recession, risinginterest rates subject to a cap limitations or declining demand for realestate, or the public perception that any of these events may occur, couldresult in a general decline in rents or in increased defaults under existingleases, which could adversely affect our financial condition, results ofoperations, cash flow, and ability to satisfy our debt serviceobligations.

We face significant competition, which may decrease the occupancyand rental rates of our properties.

We compete with several developers, owners and operators ofcommercial real estate, many of which own properties similar to ours.  Ourcompetitors may be willing to make space available at lower prices than thespace in our properties.  If our competitors offer space at rental ratesbelow current market rates, we may lose potential tenants and be pressured toreduce our rental rates to retain an existing tenant when its leaseexpires.  As a result, our financial condition, results of operations, cashflow, and ability to satisfy our debt service obligations could beadversely affected.

Our debt level could expose us to the risk of default under ourdebt obligations.

Payments of principal and interest on borrowings could leave us withinsufficient cash resources to operate our properties.  Our level of debtcould have significant adverse consequences, including:

· cash flow may beinsufficient to meet required principal and interest payments;

· we may be unable to borrowadditional funds as needed or on favorable terms;

· we may be unable torefinance our indebtedness at maturity or the terms may be less favorable thanthe terms of our original indebtedness;

· we may be forced todispose of one or more of our properties, possibly on disadvantageousterms;

· we may default on ourobligations and the lenders or mortgagees may foreclose on the propertiessecuring their loans or receiving an assignment of rents andleases;

· we may violate restrictivecovenants in our loan documents, which would entitle the lenders to accelerateour debt obligations; and

· default under any one ofthe mortgage loans with cross default provisions could result in a default onother indebtedness.

If any one of these events were to occur, our financial condition,results of operations, cash flow, our ability to satisfy our debt serviceobligations could be adversely affected.  

----

Table of Content

We could incur significant costs related to government regulationand private litigation over environmental matters.

Under various laws, ordinances and regulations relating to theprotection of the environment, a current or previous owner or operator of realestate may be held liable for contamination resulting from the presence ordischarge of hazardous or toxic substances at that property, and may be requiredto investigate and clean up any contamination at, or emanating from, thatproperty. These laws often impose liability, which may be joint and several,without regard to whether the owner or operator knew of, or was responsible for,the presence of the contaminants. The presence of contamination, or the failureto remediate contamination, may adversely affect the owner’s ability to sell,lease or develop the real estate or to borrow using the real estate ascollateral. In addition, the owner or operator of a site may be subject toclaims by third parties based on personal injury, property damage or othercosts, including costs associated with investigating or cleaning up theenvironmental contamination present at, or emanating from, asite.

These environmental laws also govern the presence, maintenance andremoval of asbestos containing building materials, or “ACBM.”  These lawsrequire that ACBM be properly managed and maintained, and may impose fines andpenalties on building owners or operators who fail to comply with theserequirements. These laws may also allow third parties to seek recovery fromowners or operators for personal injury associated with exposure to asbestosfibers. Some of our properties could contain ACBM.

Some of the properties in our portfolio contain or could havecontained, or are adjacent to or near other properties that have contained orcurrently contain underground storage tanks used to store petroleum products orother hazardous or toxic substances.  These operations create a potentialfor the release of petroleum products or other hazardous or toxicsubstances. 

Recent news accounts suggest that there is an increasing amount oflitigation over claims that mold or other airborne contaminants have damagedbuildings or caused poor health.  Mold and certain other airbornecontaminants occur naturally and are present in some quantity in virtually everystructure. A plaintiff could successfully establish that mold or anotherairborne contaminant at one of our properties causes or exacerbates certainhealth conditions.  We generally have no insurance coverage for the cost ofrepairing or replacing elements of a building or its contents that are affectedby mold or other environmental conditions, or for defending against this type oflawsuit.

We may incur significant costs complying with otherregulations.

Our properties are subject to various regulatory requirements,such as fire and life safety requirements. If we fail to comply with thesevarious requirements, we may be fined or have to pay private damageawards.  We believe that our properties materially comply with allapplicable regulatory requirements.  These requirements could change in thefuture requiring us to make significant unanticipated expenditures that couldadversely impact our financial condition, results of operations, cash flow, thevalue of the Units, our ability to satisfy our debt service obligations and topay distributions.

We may invest in joint ventures, which add another layer of risk toour business.

We may acquire properties through joint ventures, which couldsubject us to certain risks, which may not otherwise be present, if we made theinvestments directly. These risks include:

· the potential that ourjoint venture partner may not perform;

· the joint venture partnermay have economic or business interests or goals that are inconsistent with oradverse to our interests or goals;

· the joint venture partnermay take actions contrary to our requests or instructions or contrary to ourobjectives or policies;

· the joint venture partnermight become bankrupt or fail to fund its share of required capitalcontributions;

· we and the joint venturepartner may not be able to agree on matters relating to the property;and

· we may become liable forthe actions of our third-party joint venture partners.

Any disputes that may arise between joint venture partners and usmay result in litigation or arbitration that would increase our expenses andprevent us from focusing our time and effort on the business of the jointventure.

ITEM2.            UNREGISTEREDSALES OF EQUITY SECURITIES AND USE OF PROCEEDS

----

Table of Content

|  Alfang      B.V.                                                                                                                                                                                                                                                                                                                | 1,687,500      shares         |   |  at      $1.20 per share   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------|--------|---------------------------------|
|  AmogB      B.V.                                                                                                                                                                                                                                                                                                                 | 2,190,000      shares         |   |  at $1.00 per      share   |
|  Muermans Vast      Goel      BV                                                                                                                                                     | 21,465,885      shares        |   |  at $0.2078 per      share |
|  ECM      Hoff                                                    |  112,485,349      shares |   |  at $0.10 per      share   |
|  Kuiper Groep      B.V.                                                                                                                                                                                                                                                                                                          |  623,887 shares          |   |  at $1.20 per      share   |

|   | o | We      placed restrictive legends on all certificates  issued; |
|--------|---|-----------------------------------------------------------------|

|   | o | No      sales were made by general solicitation or  advertising; |
|--------|---|------------------------------------------------------------------|

|   | o | Sales      were made only to accredited investors or investors who were sophisticated      enough to evaluate the risks of theinvestment. |
|--------|---|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | o | The      opportunity to obtain any additional information, to the extent we      possessed such information, necessary to verify the accuracy of the      information to which the investors were given  access. |
|--------|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

ITEM4             SUBMISSIONOF MATTERS TO A VOTE OF SECURITY HOLDERS

ITEM 5    OTHERINFORMATION

----

Table of Content

ITEM6             EXHIBITS 

|   | 3.1 | Certificate      of Incorporation of C.N.W. Corp. as filed with the Florida Secretary of      State on October 30, 1980, incorporated by reference to the Company’s      Registration Statement on Form 10SB12G filed with the Securities and      Exchange Commission on August 20,1999. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.2 | Amended      Certificate of Incorporation of C.N.W. Corp. to change name to C.N.W. of      Orlando, Inc., increased its capitalization from 1,000 common shares to      50,000,000 common shares and changed its par value from $1.00 to $0.001 as      filed with the Florida Secretary of State on July 21, 1998, incorporated      by reference to the Company’s Registration Statement on Form 10SB12G filed      with the Securities and Exchange Commission on August 20,      1999. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.3 | Amended      Certificate of Incorporation of C.N.W. of Orlando, Inc. to change name to      GlobalNetCare, Inc. as filed with the Florida Secretary of State on      December 28, 1998, incorporated by reference to the Company’s Registration      Statement on Form 10SB12G filed with the Securities and Exchange      Commission on August 20, 1999. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.4 | Amended      Certificate of Incorporation of GlobalNetCare, Inc. to change name to      BusinessWay International Corp., and increased its authorized capital to      300,000,000 common shares as filed with the Florida Secretary of State on      January 31, 2001, incorporated by reference to the Company’s Form DEF 14C      filed with the Securities and Exchange Commission on February 14,      2001. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.5 | Amended      Certificate of Incorporation of BusinessWay International Corp. to change      name to ICBS International Corp. and added restrictions on newly issued      shares as filed with the Florida Secretary of State on September 29, 2004,      incorporated by reference to the Company’s Current Report on Form 8-K      filed with the Securities and Exchange Commission on September 29,      2004. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.6 | Amended      Certificate of Incorporation of ICBS International Corp. to remove the      restrictions on newly issued shares that were added on September 29, 2005      as filed with the Florida Secretary of State on February 14, 2005,      incorporated by reference to the Company’s Current Report on Form 8-K      filed with the Securities and Exchange Commission on February 14,      2005 |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.7 | Certificate      of Incorporation of Wah King Invest Corp., authorizing 300,000,000 common      shares and 1,000,000 blank check preferred shares as filed with the      Delaware Secretary of Sate on May 2, 2005, incorporated by reference to      the Registrant's Form DEC 14C, as filed with the Securities and      Exchange Commission on May 20,2005. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.8 | Articles      of Merger of ICBS International Corp., a Florida corporation into Wah King      Invest Corp, a Delaware corporation as filed with the Florida Secretary of      State on May 9, 2005, incorporated by reference to the Registrant's Form      DEC 14C, as filed with the Securities and Exchange Commission on May      20, 2005. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.9 | Certificate      of Merger of ICBS International Corp., a Florida corporation into Wah King      Invest Corp, a Delaware corporation as filed with the Delaware Secretary      of State on May 9, 2005, incorporated by reference to the Registrant's      Form DEC 14C, as filed with the Securities and Exchange Commission on      May 20, 2005. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.10 | Amended      Certificate of Incorporation of Wah King Invest Corp. to change name      tp Royal Invest International Corp. as filed with the Delaware Secreatry      of State on Janmuary 26, 2007, iincorporated by reference to the      Registrant's Current Report on Form 8-K, as filed with the Securities      and Exchange Commission on June 7,2007 |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.1 | Agreement to      purchase      Vastgoed Beleggings      Mij. Bunnik I B.V., dated December 18, 2007,      incorporated by reference to the Registrant's Curent Report on Form 8-K,      as filed with the Securities and Exchange Commission on January 14,      2008. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.2 |  Transfer of Royal Invest Germany      Properties 1 B.V., by Royal Invest Europe B.V. to      Vastgoed Beleggings      Mij. Bunnik I B.V. dated December 18, 2007, incorporated by reference to      the Registrant's Curent Report on Form 8-K, as filed with the      Securities and Exchange Commission on January 14,      2008. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Table of Content

|   | 10.3 |   Bank      of Scotland Term Sheet € 100.000.000 dated November 23, 2007,      incorporated by reference to the Registrant's Current Report on Form      8-K, as filed with the Securities and Exchange Commission on November      23, 2007. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.4 | Contract      for Sloterweg 22 in Badhoevedorp, The Netherlands incorporated by      refernce to the Registrant's Current Report on Form 8-K, as      filed with the Securities and Exchange Commission on June 12, 2007. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.5 | Deed      of Transfer for Sloterweg 22 in Badhoevedorp, The Netherlands dated      December 27, 2007, incorporated by reference to the Registrant's      Curent Report on Form 8-K, as filed with the Securities and Exchange      Commission on January 14,  2008. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.6 | Contract      for MTMN BV et al dated May 25, 2007, incorporated by reference to      the Registrant’s Current Report on Form 8-K, as filed with the      Securities and Exchange Commission on May 25, 2007. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.7 | Deed      of Transfer for MTMN BV et al dated December 27, 2007, incorporated by reference to the Registrant's      Curent Report on Form 8-K, as filed with the Securities and Exchange      Commission on January 14,2008. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.8 | Contract for      Schepersmaat 4, 9405 TA Assen , The Netherlands, incorporated by reference      to the Registrant’s Current Report on Form 8-K, as filed with the      Securities and Exchange Commission on July 12, 2007. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.9 | Management      Agreement with Statenconsult B.V. dated May 25, 2007 for the services of      David Havenaar as Managing Director of the Registrant's subsidiary Royal      Invest Europe B.V. incorporated by reference to the Registrant's Current      Report on Form 8-K, as filed with the Securities and Exchange Commission      on August 13, 2007.  |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.10 | Legal Service Agreement with Sec Attorneys, LLC dated May 25, 2007      incorporated by reference to the Registrant's Current Report on Form 8-K,      as filed with the Securities and Exchange Commission on August 13,      2008. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.11 | Deed      of Transfer for Schepersmaat 4, 9405 TA Assen , The Netherlands dated      December 27, 2007, incorporated by reference to the Registrant's      Curent Report on Form 8-K, as filed with the Securities and Exchange      Commission on January 14,2008. |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.12 | Contract      for Alfang B.V. dated July 25, 2007, incorporated by reference      to the Registrant’s Current Report on Form 8-K, as      filed with the Securities and Exchange Commission on August 15, 2007. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.13 | Deed      of Sale for Alfang B.V. dated December 27, 2007, incorporated by reference to the Registrant's      Curent Report on Form 8-K, as filed with the Securities and Exchange      Commission on January 14,2008. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.14 | Deed      of Sale and Transfer of AmogB B.V. dated December 27, 2007, incorporated by reference to the Registrant's      Curent Report on Form 8-K, as filed with the Securities and Exchange      Commission on January 14,2008. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.15 | Convertible      8% Note with Muermans Vast Goed Roermond B.V for  €3.500.000      dated December 21, 2007, incorporated by reference to the Registrant's      Curent Report on Form 8-K, as filed with the Securities and Exchange      Commission on January 14, 2008.  |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.16 | €100.000.000      Term Loan Agreement with Bank of Scotland dated December 21,      2007, incorporated by reference to the Registrant's      Curent Report on Form 8-K, as filed with the Securities and Exchange      Commission on January 14,2008. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.17 | Convertible 8% Note with ECM Hoff Holding      B.V. for  €1.091.257 dated December 21, 2007, incorporated by reference to the Registrant's      Curent Report on Form 8-K, as filed with the Securities and Exchange      Commission on January 14,  2008. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.18 | Mortgage      Deed with Bank of Scotland dated December 27, 2007, incorporated by reference to the Registrant's      Curent Report on Form 8-K, as filed with the Securities and Exchange      Commission on January 14,2008. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.19 | Mortgage      Deed with Bank of Scotland for Alfong B.V. dated December 27,      2007, incorporated by reference to the Registrant's      Curent Report on Form 8-K, as filed with the Securities and Exchange      Commission on January 14,2008. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.20 |  Mortgage      Deed with Bank of Scotland for AmogB B.V. dated December 27,      2007, incorporated by reference to the Registrant's      Curent Report on Form 8-K, as filed with the Securities and Exchange      Commission on January 14,2008. |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 21.1 |  Subsidiaries      of the Company, incorporated by reference to the Registrant's Annual      Report on Form 10-K, as filed with the Securities and Exchange      Commission on April 15, 2008. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 31.1 | Certification      of Chief Executive Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a)      of the Securities Exchange Act, asamended. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | 31.2 | Certification      of Chief Financial Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a)      of the Securities Exchange Act, as  amended. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.1 | Certification      of Chief Executive Officer 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 Chief Financial Officer Pursuant to 18 U.S.C. Section 1350 as adopted      Pursuant to Section 906 of the Sarbanes Oxley Act of  2002. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Table of Content

SIGNATURES

|                                |   |  ROYAL INVEST      INTERNATIONAL CORP.                                                                                                            |
|-------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                |   |                             (Registrant) |
|                                |   |                                                                                                                                                   |
|                                |   |                                                                                                                                                   |
|  Date: May 20,      2008  |   |  By:  /s/ JERRY      GRUENBAUM                                                                                                          |
|                                |   |          Jerry      Gruenbaum                                                                             |
|                                |   |         Chief      Executive Officer and                                                                       |
|                                |   |                                                                                                                                                   |
|  Date: May 20,      2008       |   |  By:  /s/ NATHAN      LAPKIN                                                                                                            |
|                                |   |               Nathan Lapkin                                                                                    |
|                                |   |               President and Chief Financial Officer                                                            |
|                                |   |               and Director                                                                                     |
|                                |   |                                                                                                                                                   |

| SIGNATURE               |   | NAME                 |   | TITLE                   |   | DATE              |
|-------------------------|--------|----------------------|--------|-------------------------|--------|-------------------|
|                    |   |                 |   |                    |   |              |
| /s/Jerry      Gruenbaum |   | Jerry      Gruenbaum |   | CEO      & Chairman |   | May      20, 2008 |
|                    |   |                 |   | of      the Board       |   |              |
|                    |   |                 |   |                    |   |              |
| /s/Nathan      Lapkin   |   | Nathan      Lapkin   |   | President,      CFO,    |   | May      20, 2008 |
|                    |   |                 |   | &      Director     |   |              |

----