----

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C.  20549**

**FORM      10-Q**

|  x                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | **Quarterly                Report Pursuant to Section 13 or 15(d) of the Securities Exchange                Act of                1934**  |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                      |
| **                                                             For                the quarterly period ended September 30, 2007**                      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                      |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | **or**                                                                                                                                    |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                      |   |   |   |   |
| o                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | **Transition                Report Pursuant to Section 13 or 15(d) of the Securities Exchange                Act of                1934** |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                                      |
| **                                                             For                the transition period from_______ to                ________.** |

**000-51510**

**InterAmerican      Acquisition Group Inc.**

|  **Delaware**                                                                          |   | **20-2828369**                                                    |
|---------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|
| (State                or Other Jurisdiction ofIncorporation                or Organization) |   | (I.R.S.                EmployerIdentification                No.) |

**2918      Fifth Avenue South, Suite 209**

**San      Diego, California  92103**

**(619)      298-9883**

----

**InterAmerican      Acquisition Group Inc.**

**(a      development stage enterprise)**

**CONTENTS**

**                               Page**

**Part      I: Financial information:**

**Part      II: Other Information                                                                         **

**Signatures                                                                                         **
**   **

**Certifications                                                                               **

----

**PART        I: FINANCIAL INFORMATION**

**ITEM        1: FINANCIAL STATEMENTS**

|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|----------------|--------|--------------------------------------|------------|
| **InterAmerican                Acquisition Group, Inc.**                                                                                                                                                                             |   |
| **(a                corporation in the development stage)**                                                                                                                                                                          |   |
| **Balance                Sheet**                                                                                                                                                                                                     |   |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |
|                                                                                                                                                                                                                                 |   | **September                30, 2007** |           |   | **December                31, 2006** |       |
|                                                                                                                                                                                                                                 |   | **(unaudited)**                       |           |   | **(audited)**                        |       |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |
| **ASSETS**                                                                                                                                                                                                                           |   |                                  |           |   |                                 |       |
| **Current                Assets:**                                                                                                                                                                                                   |   |                                  |           |   |                                 |       |
| **Cash**                                                                                                                                                                                                                             |   | **$**                                 | **68,409**     |   |                                 | **$**      | **440** |   |
| **Investment                and Accrued Interest - Trust Account**                                                                                                                                                                   |   | ** **                            | **45,265,360** |   |                                 | ** ** | **-** |   |
| **Prepaid                Expense**                                                                                                                                                                                                   |   | ** **                            | **107,260**    |   |                                 | ** ** | **-** |   |
| **Total                Current Assets**                                                                                                                                                                                              |   | ** **                            | **45,441,029** |   |                                 | ** ** | **440** |   |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |   |   |
| **Other                Assets, Deferred Offering Costs**                                                                                                                                                                             |   |                                  |           |   |                                 | ** ** | **741,533** |   |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |   |   |
| **Total                Assets**                                                                                                                                                                                                      |   | **$**                                 | **45,441,029** |   |                                 | **$**      | **741,973** |   |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |   |   |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |   |   |
| **LIABILITIES                AND STOCKHOLDERS' DEFICIENCY**                                                                                                                                                                          |   |                                  |           |   |                                 |       |   |   |
| **Current                Liabilities**                                                                                                                                                                                               |   |                                  |           |   |                                 |       |   |   |
| **Deferred                Underwriting Fees**                                                                                                                                                                                        |   | **$**                                 | **2,070,000**  |   |                                 | ** ** | **-** |   |
| **Accounts                Payable and Accrued Expenses**                                                                                                                                                                             |   | ** **                            | **336,587**    |   |                                 | **$**      | **588,855** |   |
| **Amounts                due to officers and directors for offering-related                expenses**                                                                                                                                |   | ** **                            | **-**          |   |                                 | ** ** | **59,110** |   |
| **Note                Payable**                                                                                                                                                                                                      |   | ** **                            | **69,650**     |   |                                 | ** ** | **105,000** |   |
| **Taxes                Payable**                                                                                                                                                                                                     |   | ** **                            | **7,193**      |   |                                 | ** ** | **-** |   |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |   |   |
| **Total                Current Liabilities**                                                                                                                                                                                         |   | ** **                            | **2,483,430**  |   |                                 | ** ** | **752,965** |   |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |   |   |
| **COMMON                STOCK SUBJECT TO POSSIBLE REDEMPTION**                                                                                                                                                                       |   |                                  |           |   |                                 |       |   |   |
| **(1,149,425                shares at redemption value) (Note 1)**                                                                                                                                                                   |   | ** **                            | **8,609,194**  |   |                                 | ** ** | **-** |   |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |   |   |
| **Stockholders'                Equity/(Deficiency)**                                                                                                                                                                                 |   |                                  |           |   |                                 |       |   |   |
| Preferred                stock, $0.0001 par value                                                                                                                                                                                    |   |                                  |           |   |                                 |       |   |   |
|      Authorized                1,000,000 shares; none issued                                                                                                                                                |   |                                  |           |   |                                 |       |   |   |
| Common                stock, $0.0001 par value                                                                                                                                                                                       |   |                                  |           |   |                                 |       |   |   |
|      Authorized                90,000,000 shares                                                                                                                                                            |   |                                  |           |   |                                 |       |   |   |
| Issued                and outstanding 7,000,000 shares at September 30, 2007 (which includes                1,149,425 shares subject                to possible redemption) and 1,250,000 shares at December 31,                2006 |   | ** **                            | **700**        |   |                                 | ** ** | **125** |   |
| Additional                paid-in capital                                                                                                                                                                                            |   | ** **                            | **34,323,139** |   |                                 | ** ** | **14,875** |   |
| Retained                earnings/(Deficit) accumulated during the development                stage                                                                                                                                   |   | ** **                            | **24,566**     |   |                                 | ** ** | **(25,992** | **)** |
| **Total                Stockholders' Equity/(Deficiency)**                                                                                                                                                                           |   | ** **                            | **34,348,405** |   |                                 | ** ** | **(10,992** | **)** |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |   |   |
| **Total                Liabilities and Stockholders Equity/(Deficiency)**                                                                                                                                                            |   | **$**                                 | **45,441,029** |   |                                 | **$**      | **741,973** |   |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |   |   |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |   |   |
| **                See                notes to unaudited condensed financial statements**                                                             |   |                                  |           |   |                                 |       |   |   |
|                                                                                                                                                                                                                                 |   |                                  |           |   |                                 |       |   |   |

----

|                                                           |   | **InterAmerican                Acquisition Group, Inc.**    |      |
|----------------------------------------------------------------|--------|-------------------------------------------------------------|-----------|
|                                                           |   | **(a                corporation in the development stage)** |      |
|                                                           |   | **Statement                of Operations**                  |      |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                           |   | **Three                Months Ended**        |      |   | **Nine                Months Ended**    |   |   |   |   |
|                                                           |   | **September                30, 2007 (Unaudited)**      |      |   | **September                30, 2006 (Unaudited)** |   |   | **September                30, 2007 (Unaudited)** |   |   | **September                30,****2006** |   |   | **May                10, 2005 (Inception) - September 30, 2007                (Unaudited)** |   |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues                                                       |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |
|   Interest                revenues                   |   | $                                                           | 105,360   |   |   | $ | - |   |   | $ | 105,360 |   |   | $ | - |   |   | $ | 105,360 |   |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses                                                       |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Formation                costs                     |   |                                                        | -         |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 4,775 |   |
|   General                and administrative expenses |   |                                                        | 42,465    |   |   |   | 590 |   |   |   | 42,492 |   |   |   | 3,177 |   |   |   | 55,944 |   |
|   Interest                expense                    |   |                                                        | 1,872     |   |   |   | 1,348 |   |   |   | 5,117 |   |   |   | 3,580 |   |   |   | 12,882 |   |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Total                Expenses                      |   |                                                        | 44,337    |   |   |   | 1,938 |   |   |   | 47,609 |   |   |   | 6,757 |   |   |   | 73,601 |   |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                profit/(loss) before income tax provision   |   |                                                        | 61,023    |   |   |   | (1,938 | ) |   |   | 57,751 |   |   |   | (6,757 | ) |   |   | 31,759 |   |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Provision                for income taxes                      |   |                                                        | 7,193     |   |   |   | - |   |   |   | 7,193 |   |   |   | - |   |   |   | 7,193 |   |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                Income/(Loss)                               |   | $                                                           | 53,830    |   |   | $ | (1,938 | ) |   | $ | 50,558 |   |   | $ | (6,757 | ) |   | $ | 24,566 |   |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted                average shares outstanding             |   |                                                        | 2,558,424 |   |   |   | 1,250,000 |   |   |   | 1,690,934 |   |   |   | 1,250,000 |   |   |   | 1,387,729 |   |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                earnings/(loss) per share                   |   | $                                                           | 0.02      |   |   | $ | (0.00 | ) |   | $ | 0.03 |   |   | $ | (0.01 | ) |   | $ | 0.02 |   |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                           |   |                                                        |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                | **InterAmerican                Acquisition Group, Inc.**                                                       |   |
|---------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------|--------|
|                                                                | **(a                corporation in the development stage)**                                                    |   |
|                                                                | **Statement                of Stockholders, Equity/(Deficiency)**                                              |   |
|                                                                | **For                the period from May 10, 2005 (Inception) through September 30,                2007** |   |
|                                                                | **(Unaudited)**                                                                                                |   |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   | **Income/(Deficit)** |   |   |   |   |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   | **Accumulated** |   |   |   |   |
|                                                                |                                                                                                           |   | **Common                Stock** |   |   | **Additional** |   |   | **During                the** |   |   | **Stockholders'** |   |
|                                                                |                                                                                                           |   | **Shares** |   |   | **Amount** |   |   | **paid-in                capital** |   |   | **Development                Stage** |   |   | **Equity/(Deficiency)** |   |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                shares issued May 26, 2005 at $0.01 per share |                                                                                                           |   | 1,250,000 |   |   | $ | 125 |   |   | $ | 14,875 |   |   | $ | - |   |   | $ | 15,000 |   |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                Loss                                             |                                                                                                           |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (11,148 | ) |   |   | (11,148 | ) |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance                at Dec 31, 2005                              |                                                                                                           |   |   | 1,250,000 |   |   |   | 125 |   |   |   | 14,875 |   |   |   | (11,148 | ) |   |   | 3,852 |   |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                Loss                                             |                                                                                                           |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (14,844 | ) |   |   | (14,844 | ) |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance                at Dec 31, 2006                              |                                                                                                           |   |   | 1,250,000 |   |   |   | 125 |   |   |   | 14,875 |   |   |   | (25,992 | ) |   |   | (10,992 | ) |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Proceeds                of private placement September 10, 2007     |                                                                                                           |   |   |   |   |   |   |   |   |   |   | 1,500,000 |   |   |   |   |   |   |   | 1,500,000 |   |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                Shares issued Sept. 10, 2007 @$8.00 per share |                                                                                                           |   | 5,375,000 |   |   |   | 538 |   |   |   | 42,999,462 |   |   |   |   |   |   |   | 43,000,000 |   |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                Shares issued Sept. 11, 2007 @$8.00 per share |                                                                                                           |   | 375,000 |   |   |   | 37 |   |   |   | 2,999,963 |   |   |   |   |   |   |   | 3,000,000 |   |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses                of the Offering                             |                                                                                                           |   |   |   |   |   |   |   |   |   |   | (4,581,967 | ) |   |   |   |   |   |   | (4,581,967 | ) |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Less                shares subject to possible redemption           |                                                                                                           |   |   |   |   |   |   |   |   |   |   | (8,609,194 | ) |   |   |   |   |   |   | (8,609,194 | ) |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                Income for the period                            |                                                                                                           |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 50,558 |   |   |   | 50,558 |   |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance                at September 30, 2007                        |                                                                                                           |   |   | 7,000,000 |   |   | $ | 700 |   |   | $ | 34,323,139 |   |   | $ | 24,566 |   |   | $ | 34,348,405 |   |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                |                                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                       | **InterAmerican                Acquisition Group, Inc.**                                                                                                                                           |                                             |
|----------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------|
|                                                                                                                       | **(a                corporation in the development stage)**                                                                                                                         |                                             |
|                                                                                                                       | **Statement                of Cash Flows**                                                                                                                                          |                                             |
|                                                                                                                       | **(Unaudited)**                                                                                                                                                      |                                             |
|                                                                                                                       |                                                                                                                                                                                               |                                             |   |   |   |   |   |   |   |
|                                                                                                                       |                                                                                                                                                                                               |                                             |   |   |   |   |   |   |   |
|                                                                                                                       |                                                                                                                                                                                               | **Nine                Months Ended**   |   |   |   |   |
|                                                                                                                       |                                                                                                                                                                                               | **September                30,****2007**         |   | **September                30,****2006** |   | **May                10, 2005 (Inception) - September 30,                2007** |   |
|                                                                                                                       |                                                                                                                                                                                               |                                             |   |   |   |   |   |   |   |
| **Cash                flow from operating activities**                                                                     |                                                                                                                                                                                               |                                             |   |   |   |   |   |   |   |
| Net                income/(loss)                                                                                           |                                                                                                                                                                                               | $                                                | 50,558 |   |   |   | (6,757 | ) |   | $ | 24,566 |   |
| Adjustments                to reconcile income/(loss) to net cash used in operating                activities:             |                                                                                                                                                                                               |
|    (Increase)                in prepaid expenses                                                            |                                                                                                                                                                                               | $                                                | (107,260 | ) |   |   | - |   |   | $ | (107,260 | ) |
|                    (Increase) in accrued interest - Trust Account                                           |                                                                                                                                                                                               | $                                                | (105,360 | ) |   |   | - |   |   | $ | (105,360 | ) |
|   Increase                in taxes payable                                                                       |                                                                                                                                                                                               |                                             | 7,193 |   |   |   | - |   |   | $ | 7,193 |   |
|                    Increase/(decrease) in accounts payable and accrued                expenses         |                                                                                                                                                                                               |                                             | (3,416 | ) |   |   | 2,002 |   |   |   | 15,674 |   |
|                                                                                                                       |                                                                                                                                                                                               |                                             |   |   |   |   |   |   |   |   |   |   |
| **Net                cash used in operating activities**                                                                   |                                                                                                                                                                                               |                                             | (158,285 | ) |   |   | (4,755 | ) |   |   | (165,187 | ) |
|                                                                                                                       |                                                                                                                                                                                               |                                             |   |   |   |   |   |   |   |   |   |   |
| **Cash                fows from investment activities**                                                                    |                                                                                                                                                                                               |                                             |   |   |   |   |   |   |   |   |   |   |
| Payment                to trust account                                                                                    |                                                                                                                                                                                               |                                             | (45,160,000 | ) |   |   | - |   |   |   | (45,160,000 | ) |
| **Net                cash used in investing activities**                                                                   |                                                                                                                                                                                               |                                             | (45,160,000 | ) |   |   | - |   |   |   | (45,160,000 | ) |
|                                                                                                                       |                                                                                                                                                                                               |                                             |   |   |   |   |   |   |   |   |   |   |
| **Cash                flows from financing activities**                                                                    |                                                                                                                                                                                               |                                             |   |   |   |   |   |   |   |   |   |   |
|  Proceeds                from notes payable, InterAmerican Advisors, LLC                                              |                                                                                                                                                                                               |                                             | - |   |   |   | 15,000 |   |   |   | 105,000 |   |
|                        Payments of notes payable, InterAmerican Advisors, LLC |                                                                                                                                                                                               |                                             |  (105,000 | )  |   |   |   |   |   |   | (105,000 | )  |
| Proceeds                from note payable                                                                                  |                                                                                                                                                                                               |                                             | 69,650 |   |   |   |   |   |   |   | 69,650 |   |
| Payment                of costs of public offering                                                                         |                                                                                                                                                                                               |                                             | (2,078,396 | ) |   |   | (18,432 | ) |   |   | (2,191,054 | ) |
|                  Proceeds from private placement warrant sale                                                         |                                                                                                                                                                                               |                                             | 1,500,000 |   |   |   | - |   |   |   | 1,500,000 |   |
|                  Proceeds from sale of shares of common stock                                                         |                                                                                                                                                                                               |                                             | - |   |   |   | - |   |   |   | 15,000 |   |
| Proceeds                from initial public offering                                                                       |                                                                                                                                                                                               |                                             | 46,000,000 |   |   |   | - |   |   |   | 46,000,000 |   |
| **Net                cash provided by (used in) financing activities**                                                     |                                                                                                                                                                                               |                                             | 45,386,254 |   |   |   | (3,432 | ) |   |   | 45,393,596 |   |
|                                                                                                                       |                                                                                                                                                                                               |                                             |   |   |   |   |   |   |   |   |   |   |
| **Net                Increase/(decrease) in cash at end of period**                                                        |                                                                                                                                                                                               | $                                                | 67,969 |   |   |   | (8,187 | ) |   |   | 68,409 |   |
| Cash                at beginning of period                                                                                 |                                                                                                                                                                                               |                                             | 440 |   |   |   | 9,216 |   |   |   | - |   |
| Cash                at end of period                                                                                       |                                                                                                                                                                                               | $                                                | 68,409 |   |   | $ | 1,029 |   |   | $ | 68,409 |   |
|                                                                                                                       |                                                                                                                                                                                               |                                             |   |   |   |   |   |   |   |   |   |   |
| Supplemental                schedule of non-cash financing activities:                                                     |                                                                                                                                                                                               |
| Accrual                of deferred offering costs                                                                          |                                                                                                                                                                                               | $                                                | 320,912 |   |   | $ | 182,763 |   |   | $ | 320,912 |   |
| Accrual                of deferred underwriting fees                                                                       |                                                                                                                                                                                               | $                                                | 2,070,000 |   |   | $ | - |   |   | $ | 2,070,000 |   |
|                                                                                                                       |                                                                                                                                                                                               |                                             |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                       |                                   See notes to unaudited condensed                financial statements.  |

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**InterAmerican        Acquisition Group Inc.**

**(a        corporation in the development stage)**

**Notes        to Condensed Financial Statements (Unaudited)**

**September        30, 2007**

**1.            Basis of Presentation, Organization, Proposed Business Operations and Summary        of        Significant Accounting Policies**

**Basis        of Presentation**

**Organization        and Proposed Business Operations**

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Company has not asked Messrs. Morro or        Sinkin to reserve for such an eventuality and there can be no assurance that        they will satisfy their indemnification obligations if and when they arise.        Accordingly, the proceeds held in trust could be subject to claims which        could        take priority over the claims of the Company’s public stockholders and the        per-share liquidation price could be less than approximately $7.85, plus        interest (net of taxes payable and interest earned on the trust account up        to a        maximum amount of $950,000 that will be released to the Company to fund its        working capital), due to claims of such creditors. The remaining net proceeds        (not held in the Trust Account) and interest income earned on the funds in        the        Trust Account of up to $950,000, after tax, may be released to the Company        upon        demand and may be used to pay for business, legal and accounting due diligence        on prospective acquisitions and continuing general and administrative expenses.        The Company, after signing a definitive agreement for the acquisition of        a        target business, is required to submit such transaction for stockholder        approval. In the event that stockholders owning 20% or more of the shares        sold        in the Offering vote against the Business Combination and exercise their        redemption rights described below, the Business Combination will not be        consummated. All of the Company’s stockholders prior to the Offering, including        all of the officers, directors and special advisors of the Company (‘‘Initial        Stockholders’’), have agreed to vote their 1,250,000 founding shares of common        stock (as well as any shares included in units purchased in the Offering        or in        the aftermarket) in accordance with the vote of the majority in interest        of all        other stockholders of the Company (‘‘Public Stockholders’’) with respect to any        Business Combination. After consummation of a Business Combination, these        voting        safeguards will no longer be applicable.

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| **2.  ** | **Trust                  Account** |
|--------------------|------------------------------------|

| **3.  ** | **Deferred                  Offering                  Costs** |
|--------------------|---------------------------------------------------------------|

| **4.  ** | **Public                  Offering** |
|--------------------|--------------------------------------|

**        **

| **5.  ** | **Account                  Payable and Accrued                  Expenses** |
|--------------------|----------------------------------------------------------------------------|

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|                                                                                                 |   | September                30, 2007 |    |   | December                31, 2006 |   |
|------------------------------------------------------------------------------------------------------|--------|-----------------------------------|---------|--------|----------------------------------|--------|
|                                                                                                 |   |                              |    |   |                             |   |
| Other                amounts due or accrued for offering-  related                expenses |   | $                                 | 320,912 |   |                             | $      | 569,765 |   |
| Other                                                                                                |   |                              | 15,675  |   |                             |   | 19,090 |   |
| Total                                                                                                |   | $                                 | 336,587 |   |                             | $      | 595,235 |   |

| **6.  ** | **Notes                  Payable, InterAmerican Advisors,                  LLC** |
|--------------------|----------------------------------------------------------------------------------|

| **7.  ** | **Commitments                  and Related Party                  Transactions** |
|--------------------|----------------------------------------------------------------------------------|

holders of the majority of        these shares are entitled to make up to two demands that the Company register        these shares at any time commencing three months prior to the third anniversary        of the effective date of the Offering. In addition, the Initial Stockholders        have certain ‘‘piggy-back’’ registration rights on registration statements filed        subsequent to the third anniversary of the effective date of the        Offering.

| **8.  ** | **Stockholders’                  Equity** |
|--------------------|-------------------------------------------------|

**Common        Stock**

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**Preferred        Stock**

**ITEM      2- MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF      OPERATIONS**

**Forward      Looking Statements**

**Overview**

**Results      of Operations**

**Financial      Condition and Liquidity**

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|   | • | $300,000                of expenses for the search for target businesses and for the legal,                accounting and other third-party expenses attendant to the due diligence                investigations, structuring and negotiating of a business                combination; |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | $200,000                of expenses for the due diligence and investigation of a target business                by our officers, directors and existing                stockholders; |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | $150,000                of expenses in legal and accounting fees relating to our SEC reporting                obligations; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------|

|   | • | $120,000                for the administrative fee payable to InterAmerican Advisors, LLC                *(*$10,000* *per month for twelve months);                and |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | $530,000                for general working capital that will be used for miscellaneous expenses                and reserves,                including approximately $120,000 for director and officer liability                insurance premiums. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**ITEM      3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET      RISK**

**        **

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**ITEM      4. CONTROLS AND PROCEDURES.**

**Limitations      on the Effectiveness of Controls**

**PART      II: OTHER INFORMATION**

**ITEM      1: LEGAL PROCEEDINGS**

**ITEM      1A. RISK FACTORS**

**        **

**ITEM      2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF      PROCEEDS**

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**ITEM      3: DEFAULTS UPON SENIOR SECURITIES**

**       **

**ITEM      4:  SUBMISSION OF MATTERS TO A VOTE OF SECURITY      HOLDERS**

**ITEM      5:  OTHER INFORMATION**

**ITEM      6: EXHIBITS**

|   | (a) | Exhibits: |
|--------|-----|-----------|

|   | 31.1 | Certification                of the Company’s Principal Executive Officer and Principal Financial                Officer pursuant to Section 302 of the Sarbanes-Oxley Act of                2002. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.1 | Certification                of the Company’s Principal Executive Officer and Principal Financial                Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to                Section                906 of the Sarbanes Oxley Act of                2002. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**SIGNATURES**

**                INTERAMERICAN      ACQUISITION GROUP INC.**

**                By:/s/      William C.      Morro                **

**                Name:      William C.      Morro**

**                Title:        Chief Executive Officer**

| Dated: | November                19, 2007 |
|--------|----------------------------------|