| [X]                                                                             | QUARTERLY      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------|
| For      the quarterly period ended March 31, 2009                              |
|                                                                            |
| [ ]                                                                        | TRANSITION      REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT                        |
| For      the transition period from _________________ to      _________________ |
|                                                                            |
| Commission      file number 000-53366                                           |

| CHINA      VOICE HOLDING CORP.(Exact      name of small business issuer as specified in its  charter)        |
|--------------------------------------------------------------------------------------------------------------|
|                                                                                                         |
| Nevada(State      or other jurisdiction of incorporation or organization)                                    | 16-1680725(IRS      Employer Identification No.) |
|                                                                                                         |
| 327      Plaza Real, Suite 319, Boca Raton, Florida 33432 (Address      of principal executive offices) |
|                                                                                                         |
| (561)      394-2482(Issuer’s      telephone number)                                                    |
|                                                                                                         |

----

PART I — FINANCIAL INFORMATION

| CHINA      VOICE HOLDING CORP.            |                                                         |
|-------------------------------------------|--------------------------------------------------------------|
|                                      |                                                         |   |   |   |   |   |   |
| Condensed      Consolidated Balance Sheet |                                                         |
| March      31, 2009 and June 30, 2008     |                                                         |
|                                      |                                                         |   |   |   |   |   |   |
|                                      |                                                         |   |   |   |   |   |   |
|                                      |                                                         |   |   |   |   |   |   |
|                                      |                                                         |   | March 31,      2009 |   |   | June      30, 2008 |   |
| ASSETS                                    |                                                         | (Unaudited) |   |   | (Audited) |   |
| Current      Assets:                      |                                                         |   |   |   |   |   |
|                                      | Cash      and cash equivalents                               |   | $ | 53,972 |   |   | $ | 2,096,070 |   |
|                                      | Accounts      receivable, net                                |   |   | 620,626 |   |   |   | 1,746,595 |   |
|                                      | Inventories                                                  |   |   | 87,121 |   |   |   | 445,163 |   |
|                                      | Prepaid      expenses and other current assets               |   |   | 85,605 |   |   |   | 97,873 |   |
|                                      | Related      party receivables                               |   |   | 101,824 |   |   |   | 92,300 |   |
|                                      | Deposits                                                     |   |   | - |   |   |   | 61,532 |   |
|                                      |                                                         |   |   |   |   |   |   |   |   |
|                                      | Total      Current Assets                                    |   |   | 949,148 |   |   |   | 4,539,533 |   |
|                                      |                                                         |   |   |   |   |   |   |   |   |
| Long-term      assets:                    |                                                         |   |   |   |   |   |   |   |   |
|                                      | Note      receivable                                         |   |   | 800,000 |   |   |   | 1,500,000 |   |
|                                      | Long-term      investments                                   |   |   | 7,639,886 |   |   |   | - |   |
|                                      | Property      and Equipment, net                             |   |   | 371,907 |   |   |   | 588,954 |   |
|                                      | Other      assets                                            |   |   | 15,000 |   |   |   | - |   |
|                                      | Goodwill                                                     |   |   | 6,009,404 |   |   |   | 10,450,466 |   |
|                                      | Other      intangible assets, net                            |   |   | 6,498,493 |   |   |   | 6,964,318 |   |
|                                      |                                                         |   |   |   |   |   |   |   |   |
|                                      | TOTAL      ASSETS                                            |   | $ | 22,283,838 |   |   | $ | 24,043,271 |   |
|                                      |                                                         |   |   |   |   |   |   |   |   |
| LIABILITIES AND EQUITY                    |                                                         |   |   |   |   |   |   |   |
|                                      |                                                         |   |   |   |   |   |   |   |   |
| Current      liabilities:                 |                                                         |   |   |   |   |   |   |   |
|                                      | Accounts      payable and accrued expenses                   |   | $ | 254,583 |   |   |   | 2,204,689 |   |
|                                      | Related      party payables                                  |   |   | 402,814 |   |   |   | 390,451 |   |
|                                      | Current      portion of long term debt, net of debt discount |   |   | 125,614 |   |   |   | 158,652 |   |
|                                      | Current      portion of related party notes                  |   |   | 235,000 |   |   |   | 310,423 |   |
|                                      | Other      current liabilities                               |   |   | 80,329 |   |   |   | 28,188 |   |
|                                      |                                                         |   |   |   |   |   |   |   |   |
|                                      | Total      Current Liabilities                               |   |   | 1,098,340 |   |   |   | 3,092,403 |   |
|                                      |                                                         |   |   |   |   |   |   |   |   |
| Long-Term  Liabilities          |                                                         |   |   |   |   |   |   |   |
|                                      | Long-term      debt, net of current portion                  |   |   | - |   |   |   | 50,000 |   |
|                                      | Long-term      contingent liabilities                        |   |   | - |   |   |   | 1,500,000 |   |
|                                      |                                                         |   |   |   |   |   |   |   |   |
|                                      | Total      liabilities                                       |   |   | 1,098,340 |   |   |   | 4,642,403 |   |
|                                      |                                                         |   |   |   |   |   |   |   |   |

----

|                        |                                                                                                              |   |        |   |      |       |                  |   |     |   |        |
|-------------------------------|---------------------------------------------------------------------------------------------------------------------|----------|---------------|----------|-----------|--------------|-----------------------|----------|----------|----------|-------------|
| Equity                        |                                                                                                              |   |        |     |    |         |                |     |   |     |
|                        | Common      Stock: par value $0.001; 400,000,000                                                                    |     |        |     |    |         |                |     |
|                        | shares      authorized; 184,992,938 and 157,909,447 shares issued                                                   |     |        |     |
|                          |          at March 31, 2009 and June 30, 2008,respectively                                            |     | 184,993  |     |      |         | 157,910   |     |
|                        |  Series      A Preferred Stock-par value $0.001                                                                |     |        |     |    |         |                  |   |
|                        |    20,000      shares authorized: 5,493 and 3,304 shares issued                                      |     |          |     |      |       |                  |     |     |     |        |   |
|                        | at      March 31, 2009 and June 30, 2008, respectively                                                              |  5  |        |     |  3 |       |
|                        | (liquidation      value of $5,493,000 and $3,304,000 on                                                             |     |        |     |    |       |
|                        | March      31, 2009 and June 30, 2008, respectively)                                                                |     |        |     |    |       |
|                        | Subscription      receivables                                                                                       |   |          |     |      | (8,500,000)  |                  |   |     |     | -           |   |   |
|                        | Additional      paid-in capital                                                                                     |   |          |     |      | 51,629,011   |                  |   |     |     | 41,730,913  |   |   |
|                        | Accumulated      deficit                                                                                            |   |          |     |      | (22,359,779) |                  |   |     |     | (22,483,047 | ) |   |
|                        | Cumulative      currency translation adjustment                                                                     |     |          |     | 31,913    |         |                |     |     | (4,911   | )           |   |
|                        | Total      CHVC shareholders' equity                                                                                |   |          |     |      | 20,986,143   |                  |   |     |     | 19,400,868  |   |   |
|                        |                                                                                                              |   |        |     |      |       |                  |   |     |   |      |
| Noncontrolling      interests |                                                                                                              |     |          |     | 199,355   |         |                |     |     | -        |        |   |
|                        | Total      shareholders' equity                                                                                     |   |          |     |      | 21,185,498   |                  |   |     |     | 19,400,868  |   |   |
|                        | Total      liabilities and equity                                                                                   |   |          |     | $         | 22,283,838   |                  |   |     | $        | 24,043,271  |   |   |
|                        |                                                                                                              |   |        |     |      |       |                  |   |     |   |      |
|                        | The      accompanying notes are an integral part of the unaudited condensed      consolidated financial statements. |     |
|                        |                                                                                                              |   |        |   |      |       |                  |   |     |   |        |

----

----

|    CHINA      VOICE HOLDING CORP.                                                                |
|-----------------------------------------------------------------------------------------------------------------|
|      Condensed      Consolidated Statement of Operations                               |
| For      the three months and nine months ended March 31, 2009 and    2008                                      |
| (Unaudited)                                                                                                     |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
|                                                                                                            |   | Three      Months Ended |   | Three      Months Ended |   | Nine      Months Ended |   | Nine      Months Ended |   |
|                                                                                                            |   | March      31, |   | March      31, |   | March      31, |   | March      31, |   |
|                                                                                                            |   | 2009 |   | 2008 |   | 2009 |   | 2008 |   |
| Sales                                                                                                           |  $              302,666 |   | $                       4,641 |   |  $          867,757 |   |  $                 4,641 |   |
| Cost      of revenues                                                                                           | 134,739 |   |                                   - |   |                           566,299 |   |                                  - |   |
| Gross      profit                                                                                               |                           167,927 |   | 4,641 |   |                           301,458 |   |                             4,641 |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
| Operating      Expenses:                                                                                        |   |   |   |   |   |   |   |   |
|                                                                                                            | Selling,      general and administration expenses | 727,459 |   | 1,834,354 |   |                        3,001,022 |   |                       3,781,269 |   |
|                                                                                                            | Depreciation | 19,226 |   | 18,801 |   |                            83,805 |   |                           33,814 |   |
|                                                                                                            |        Total      operating expenses | 746,685 |   | 1,853,155 |   |                        3,084,827 |   |                       3,815,083 |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
| Loss      from operations                                                                                       |                          (578,758) |   |                       (1,848,514) |   |                       (2,783,369) |   |                      (3,810,442) |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
| Other      income (expenses)                                                                                    |   |   |   |   |   |   |   |   |
|                                                                                                            | Tax      credit | 242,730 |   |                                   - |   |                           242,730 |   |                                  - |   |
|                                                                                                            | Interest      income | 1,003 |   | 21,143 |   |                              8,463 |   |                           37,083 |   |
|                                                                                                            | Interest      expense | (76,046) |   | (72,727) |   |                          (147,831) |   |                         (324,584) |   |
|                                                                                                            | Gain/(Loss)      from disposal of fixed assets | (274) |   | (44,434) |   |                                (274) |   |                          (44,434) |   |
|                                                                                                            | Other      nonoperating income (expense) | (10,934) |   | (124,316) |   |                           (41,949) |   |                         (461,816) |   |
|                                                                                                            |         Total      other income (expense) | 156,479 |   | (220,334) |   |                            61,139 |   |                         (793,751) |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
| Loss      before Loss on equity investment and noncontrolling    interest                                       |                          (422,279) |   |                       (2,068,848) |   |                       (2,722,230) |   |                      (4,604,193) |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
|                                                                                                            | Loss      on equity investment | (340,114) |   |                                   - |   |                          (340,114) |   |                                  - |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
| Net      loss from continuing operations                                                                        |                          (762,393) |   |                       (2,068,848) |   |                       (3,062,344) |   |                      (4,604,193) |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
| Discontinued      operations                                                                                    |   |   |   |   |   |   |   |   |
|                                                                                                            | (Loss)      Income on discontinued operations, net of tax | (191,188) |   | (231,198) |   |                           421,054 |   |                         (127,407) |   |
|                                                                                                            | Gain      from disposal of subsidiaries |                        3,516,912 |   | 505,733 |   |                        3,516,912 |   |                          505,733 |   |
| Income      from discontinuing operations                                                                       | 3,325,724 |   | 274,535 |   | 3,937,966 |   | 378,326 |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
| Net      Income (loss)                                                                                          |                        2,563,331 |   |                       (1,794,313) |   |                           875,622 |   |                      (4,225,867) |   |
| Less:      Net (loss) income attributable                                                                       |   |   |   |   |   |   |   |   |
|                                                                                                            |      to      noncontrolling interest | (84,841) |   | 34,752 |   |                          (199,354) |   |                           16,969 |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
| Net      income (loss) before preferred dividend                                                                | 2,478,490 |   | (1,759,561) |   | 676,268 |   | (4,208,898) |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
| Preferred      dividend                                                                                         |                          (217,610) |   |                          (274,375) |   |                          (553,000) |   |                         (388,108) |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
| Net      income (loss) attributable to CHVC common stockholders                                                 |                        2,260,880 |   |                       (2,033,936) |   |                           123,268 |   |                      (4,597,006) |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
| Net      income (loss) attributable to CHVC common stockholders per common share –      basic and diluted |   |   |   |   |   |   |
| Net      loss from continuing operations per share – Basic                                                | $   (0.006) |   | $  (0.015) |   | $  (0.022) |   | $   (0.038) |   |
| Net      income from discontinued operations per share - Basic                                                  | $   0.018 |   | $   0.002 |   | $      0.023 |   | $   0.003 |   |
| Net      income (loss) attributable to CHVC common stockholders per common share –      Basic             | $    0.012 |   | $  (0.014) |   | $  0.001 |   | $  (0.035) |   |
|                                                                                                            |   |   |   |   |   |   |   |   |
|                                                                                                            |   |   |   |   |   |   |   |
| Net      loss from continuing operations per share - Diluted                                                    | $   (0.006)  |   | $  (0.015)  |   | $  (0.022)  |   | $   (0.038)  |   |
| Net      income from discontinued operations per share -    Diluted                                        |  $                 0.018 |   |  $        0.002 |   |  $             0.023 |   |  $                0.003 |   |
|  Net      income (loss) attributable to CHVC common stockholders per common share -      Diluted           |  $                 0.012 |   |  $        (0.014) |   |  $            0.001 |   |  $                (0.035) |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |
| Common      shares used in calculation per share data- basic                                                    |                    180,927,159 |   |                     149,104,669 |   |                    171,586,089 |   |                   130,725,593 |   |
| Common      shares used in calculation per share data- diluted                                                  |                    181,325,672 |   |                     149,104,669 |   |                    171,984,602 |   |                   130,725,593 |   |
|                                                                                                            |   |   |   |   |   |   |   |   |   |   |
|                                                                                                            | The      accompanying notes are an integral part of the condensed consolidated      financial statements. |   |   |   |   |   |   |

----

| CHINA      VOICE HOLDING CORP.                              |
|-------------------------------------------------------------|
| Condensed      Consolidated Statements of Changes in Equity |
| For      the Nine Months ended March 31, 2009               |
|    (unaudited)                               |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                        |   |   |   |   |   |   |   |   |   |   | Foreign      currency |   |
|                                                        |   |   | Series      A Preferred | Additional | Accumulated | Noncontrolling | exchange | Total |
|                                                        | Common      Stock | Subscription | Stock | paid-in      capital | deficit |  interest | adjustment | Equity |
|                                                        | Shares |   | Amount | Receivable | Shares |   | Amount |   |   |   |   |   |
| Balance      at                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| June      30, 2008                                          |   157,909,447 |   |   157,910 |                  - |           3,304 |   |                     3 |         41,730,913 |          (22,483,047) |                   - |                    (4,911) |              19,400,868 |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      Income                                             |   |   |   |   |   |   |   |   |                 676,268 |         199,355 |   |                   875,623 |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance      of Common                                     |       8,833,641 |   |       8,833 |   |   |   |   |           1,674,614 |   |   |   |                1,683,447 |
| Issuance      of Common                                     |     18,249,850 |   |     18,250 |   |   |   |   |           8,922,264 |   |   |   |                8,940,514 |
| Issuance      of Preferred stock                            |   |   |   |   |           3,250 |   |                     3 |              361,240 |   |   |   |                   361,243 |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Dividends      declared                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| on      series A Preferred Stock                            |   |   |   |   |   |   |   |   |               (553,000) |   |   |                 (553,000) |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Translation      adjustment                                 |   |   |   |   |   |   |   |   |   |   |                   36,824 |                     36,824 |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Redemption      of                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Series      A Preferred Stock                               |   |   |   |   |          (1,061) |   |                   (1) |          (1,060,020) |   |   |   |              (1,060,021) |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock      subscriptions receivable                         |   |   |   |    (8,500,000) |   |   |   |   |   |   |   |              (8,500,000) |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      at                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| March      31, 2009                                         |   184,992,938 |   |   184,993 |    (8,500,000) |           5,493 |   |                     5 |         51,629,011 |          (22,359,779) |         199,355 |                   31,913 |              21,185,498 |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

| CHINA      VOICE HOLDING CORP.                                               |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |
|------------------------------------------------------------------------------|--------------------------------------------------|-----------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|
| Condensed      Consolidated Statements of Cash Flows                         |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |
| For      the nine months ended March 31, 2009 and 2008                       |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |
| (Unaudited)                                                                  |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |
|                                                                         |                                             |                                                                                                      |                                                                                                                                                                      | 2009                                                                                                                                                                      |  2008                                                                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
| Operating      Activities                                                    |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |
|                                                                         | Net      income (loss)                           |                                                                                                      |  $         875,622                                                                                                      |  $        (4,225,867)                                                                                                        |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Adjustments      to reconcile net loss to net cash used in operating      activities:                     |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Depreciation      and amortization                                                                        |                                                                                                                                                                      | 477,982                                                                                                                                                                   |                  190,554                                           |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Common      shares issued for services                                                                    |                                                                                                                                                                      | (29,490)                                                                                                                                                                  |                          - |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Stock-based      expense                                                                                  |                                                                                                                                                                      |                             - |               1,241,340                                                           |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Loss      from disposal of property and equipment                                                         |                                                                                                                                                                      | 164,498                                                                                                                                                                   | -                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Gain      from disposal of subsidiaries                                                                   |                                                                                                                                                                      | (3,516,912)                                                                                                                                                               |                          - |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Loss      on equity investment                                                                            |                                                                                                                                                                      | 340,114                                                                                                                                                                   |                          - |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         | Change      in operating assets and liabilities  |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Accounts      receivable                                                                                  |                                                                                                                                                                      |                   (853,715)                                                     |              (1,165,126)                                                               |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Inventories                                                                                               |                                                                                                                                                                      |                     (85,196)                                          |                  237,276                                           |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Prepaid      expenses and other current assets                                                            |                                                                                                                                                                      |                     (21,883)                                          |                    91,031                                |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Other      assets                                                                                         |                                                                                                                                                                      |                     (13,018)                                          |                 (299,325)                                               |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Accounts      payable and accrued expenses                                                                |                                                                                                                                                                      |                    183,198                                                 |               1,063,869                                                           |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Due      from related parties                                                                             |                                                                                                                                                                      |                      82,776                                      |                          - |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Other      current  liabilities                                                                 |                                                                                                                                                                      |                      53,032                                      |                 (329,172)                                               |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         | Total      Adjustments                           |                                                                                                      | (3,135,838)                                                                                                                                                               |               1,030,447                                                                             |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |
| Net      Cash Used In Operating Activities                                   |                                             | (2,260,216)                                                                                               | (3,195,420)                                                                                                                                                               |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Investing      Activities                                                    |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |
|                                                                         | Purchase      of property and equipment          |                                                                                                      | (132,521)                                                                                                                                                                 |                 (256,512)                                                                 |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |
|                                                                         | Cash      received from disposl of subsidiares   |                                                                                                      |                          700,000             | -                                                                                                                                                                         |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |
| Net      Cash Used In Investing Activities                                   |                                             | 567,479                                                                                                   |                 (256,512)                                                                 |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |
| Financing      Activities                                                    |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |
|   Net      increase (decrease) in:                                 |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Repayments      of short term loan                                                                        |                                                                                                                                                                      | (608,461)                                                                                                                                                                 |                 (376,587)                                               |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Proceeds      from short term loan                                                                        |                                                                                                                                                                      | 450,000                                                                                                                                                                   |                          - |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Repayments      of long term loan                                                                         |                                                                                                                                                                      |                             - | (675,000)                                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Decreased      from notes receivable                                                                      |                                                                                                                                                                      | (800,000)                                                                                                                                                                 |                          - |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Proceeds      from related parties                                                                        |                                                                                                                                                                      | 12,363                                                                                                                                                                    |                          - |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Proceeds      from issuance of preferred stock, net of issuance costs                                     |                             - |                 (949,000)                                                                 |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Redemption      of preferred stock to related party                                                       | (1,060,021)                                                                                                                                                               |                          -                   |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Proceeds      from issuance of common stock, net of issuance costs                                        | 2,156,936                                                                                                                                                                 |               7,489,825                                                                             |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Payment      of preferred dividends                                                                       |                                                                                                                                                                      | (553,000)                                                                                                                                                                 |                 (284,200)                                               |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             | Investment      in minority interest                                                                      |                                                                                                                                                                      |                             - |                   (54,000)                                    |   |   |   |   |   |   |   |   |   |   |   |
| Net      cash provided by financing activities                               | (402,183)                                        |               5,151,038             |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |
|  Effect      of exchange rate on changes in cash                        | 52,822                                      | -                                                                                                    |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |
| Net      (decrease) increase in cash and cash equivalents               | $         (2,042,098)        | $          1,699,106                                                             |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |
|  Cash      and cash equivalents - beginning of period                   | 2,096,070                                   | 396,964                                                                                              |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |
|  Cash      and cash equivalents - end of period                         | $         53,972             | $         2,096,070                                                                   |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |
|                                                                         |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Supplemental      cash flow information                                      |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |
|                                                                         |                                             | Interest      paid                                                                                        |                                                                                                                                                                      |  $          147,831                                                                                                |  $              324,584                                                      |   |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |   |
| Supplemental      Disclosure of Non-Cash investing and financing activities: |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |
|                                                                         |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |
|                                                                         | Consideration      from disposal of subsidiaries |  $        7,980,000                                          |  $                       -                        |                                                                                                                                                                      |                                                                                                                                                    |   |   |   |   |   |   |   |   |   |
|                                                                         |                                             |                                                                                                      |                                                                                                                                                                      |                                                                                                                                                                      |                                                                                                                                                    |   |   |
|                                                                         |                                             | The      accompanying notes are an integral part of the condensed consolidated      financial statements. |                                                                                                                                                                      |

----

|   | NOTE      1 – DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION AND SUMMARY OF      SIGNIFICANT ACCOUNTING POLICIES |
|--------|------------------------------------------------------------------------------------------------------------------------|

----

|   | NOTE      1 – DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION AND SUMMARY OF      SIGNIFICANT ACCOUNTING POLICIES(Continued) |
|--------|-----------------------------------------------------------------------------------------------------------------------------------|

----

----

----

|   |                   On      April 9, 2009 the FASB issued FSP No. FAS 107-1 and APB 28-1, Interim      Disclosures                  about      Fair Values of Financial Instruments, which amends SFAS 107, Disclosures about Fair Values      of Financial Instruments, and requires that companies also disclose the fair      value of financial instruments during interim reporting similar to those      that are currently provided annually. FSP No.FAS 107-1 and APB 28-1 is      effective for interim reporting periods ending  after June 15,      2009 and it will have no impact on the Company’s      statement of financial position or results of  operations. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | NOTE      1 – DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION AND SUMMARY OF      SIGNIFICANT ACCOUNTING POLICIES(Continued) |
|--------|-----------------------------------------------------------------------------------------------------------------------------------|

|                                                             |
|-------------------------------------------------------------|
|                                                        |   | For      the three months ended March 31, 2009 |   | For      the three months ended March 31, 2008 |   | For      the nine months ended March 31, 2009 |   | For      the nine months ended March 31, 2008 |
| Numerator:                                                  |   |   |   |   |   |   |   |   |
| Net      loss from continuing operations                    |   | (1,064,844) |   | (2,308,471) |   | (3,814,698) |   | (4,975,332) |
| Net      income from discontinued operations                |   | 3,325,724 |   | 274,535 |   | 3,937,966 |   | 378,326 |
| Net      Income (loss) attributable to stockholders         | $ | 2,260,880 | $ | (2,033,936) |  $ | 123,268 | $ | (4,597,006) |
| Denominator:                                                |   |   |   |   |   |   |   |   |
| Weighted      average number of shares outstanding, basic   |   | 180,927,159 |   | 149,104,669 |   | 171,586,089 |   | 130,725,593 |
|   Effect      of dilutive securities              |   |   |   |   |   |   |   |   |
| Options      and warrants                                   |   | 398,513 |   | - |   | 398,513 |   | - |
| Weighted      average number of shares outstanding, diluted |   | 181,325,672 |   | 149,104,669 |   | 171,984,602 |   | 130,725,593 |
|                                                        |   |   |   |   |   |   |   |   |
| Income/(Loss)      per share – basic                  |   |   |   |   |   |   |   |   |
| Continuing      operations                                  |   | (0.006) |   | (0.015) |   | (0.022) |   | (0.038) |
| Discontinued      operations                                |   | 0.018 |   | 0.002 |   | 0.023 |   | 0.003 |
| Net      loss per share – basic and diluted           | $ | 0.012 | $ | (0.014) | $ | 0.001 | $ | (0.035) |
| Income/(Loss)      per share –  diluted     |   |   |   |   |   |   |   |   |
| Continuing      operations                                  |   | (0.006) |   | (0.015) |   | (0.022) |   | (0.038) |
| Discontinued      operations                                |   | 0.018 |   | 0.002 |   | 0.023 |   | 0.003 |
| Net      loss per share – basic and diluted           | $ | 0.012 | $ | (0.014) | $ | 0.001 | $ | (0.035) |

|                                                        |   | For      the three months ended March 31, 2009 |        |   | For      the three months ended March 31, 2008 |   |        | For      the nine months ended March 31, 2009 |   |   | For      the nine months ended March 31, 2008 |   |
|-------------------------------------------------------------|--------|------------------------------------------------|-------------|--------|------------------------------------------------|--------|-------------|-----------------------------------------------|--------|--------|-----------------------------------------------|--------|
| Numerator:                                                  |   |                                           |        |   |                                           |   |        |                                          |   |   |                                          |   |
| Net      loss from continuing operations                    |   |                                           | (1,064,844  | )      |                                           |   | (2,308,471  | )                                             |   |   | (3,814,698                                    | )      |   |   | (4,975,332 | ) |
| Net      income from discontinued operations                |   |                                           | 3,325,724   |   |                                           |   | 274,535     |                                          |   |   | 3,937,966                                     |   |   |   | 378,326 |   |
| Net      Income (loss) attributable to stockholders         |   | $                                              | 2,260,880   |   |                                           | $      | (2,033,936  | )                                             |   | $      | 123,268                                       |   |   | $ | (4,597,006 | ) |
| Denominator:                                                |   |                                           |        |   |                                           |   |        |                                          |   |   |                                          |   |   |   |   |   |
| Weighted      average number of shares outstanding, basic   |   |                                           | 180,927,159 |   |                                           |   | 149,104,669 |                                          |   |   | 171,586,089                                   |   |   |   | 130,725,593 |   |
|   Effect      of dilutive securities              |   |                                           |        |   |                                           |   |        |                                          |   |   |                                          |   |   |   |   |   |
| Options      and warrants                                   |   |                                           | 398,513     |   |                                           |   | -           |                                          |   |   | 398,513                                       |   |   |   | - |   |
| Weighted      average number of shares outstanding, diluted |   |                                           | 181,325,672 |   |                                           |   | 149,104,669 |                                          |   |   | 171,984,602                                   |   |   |   | 130,725,593 |   |
|                                                        |   |                                           |        |   |                                           |   |        |                                          |   |   |                                          |   |   |   |   |   |
| Income/(Loss)      per share – basic                  |   |                                           |        |   |                                           |   |        |                                          |   |   |                                          |   |   |   |   |   |
| Continuing      operations                                  |   |                                           | (0.006      | )      |                                           |   | (0.015      | )                                             |   |   | (0.022                                        | )      |   |   | (0.038 | ) |
| Discontinued      operations                                |   |                                           | 0.018       |   |                                           |   | 0.002       |                                          |   |   | 0.023                                         |   |   |   | 0.003 |   |
| Net      loss per share – basic and diluted           |   | $                                              | 0.012       |   |                                           | $      | (0.014      | )                                             |   | $      | 0.001                                         |   |   | $ | (0.035 | ) |
| Income/(Loss)      per share –  diluted     |   |                                           |        |   |                                           |   |        |                                          |   |   |                                          |   |   |   |   |   |
| Continuing      operations                                  |   |                                           | (0.006      | )      |                                           |   | (0.015      | )                                             |   |   | (0.022                                        | )      |   |   | (0.038 | ) |
| Discontinued      operations                                |   |                                           | 0.018       |   |                                           |   | 0.002       |                                          |   |   | 0.023                                         |   |   |   | 0.003 |   |
| Net      loss per share – basic and diluted           |   | $                                              | 0.012       |   |                                           | $      | (0.014      | )                                             |   | $      | 0.001                                         |   |   | $ | (0.035 | ) |

|                                                         |   |   |      |
|--------------------------------------------------------------|--------|--------|-----------|
| Warrants      issued in conjunction with financing           |   |   | 582,000   |   |
| Contingent      shares potentially issuable for acquisitions |   |   | 3,598,750 |   |
| Common      stock options                                    |   |   | 48,513    |   |
|                                                         |   |   |      |   |

----

----

|   | A. | Businesses Owned as of      March 31, 2009 |
|--------|----|--------------------------------------------|

|   | 1. | The      Company has entered into an agreement with a licensed Chinese      Telecommunications Company which will permit CHVC to offer advanced      communications services along with domestic and international long      distance service into and out of China.  Effective June 30,      2005, CHVC had issued 20,028,000 common shares valued at $5,007,000 to      acquire all of the stock of East West Global Communications Inc., the      Corporation which had obtained the Chinese licenses.  The      telecommunications licenses associated with this acquisition were valued      at $5,007,000.  The Company has acquired rights to these      licenses which are owned by Chinese nationals and controlled by the      Company.  The licenses are required to be utilized by entities      authorized to operate in China.  Currently, one entity      controlled by the Company uses thelicenses. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Effective      January 18, 2006, the Company acquired a 65% interest in the operations of      Candid Soft Technologies Co. Ltd of Beijing (“Candidsoft”), an      international office-automation software and technology company      headquartered in Beijing, China.  The purchase price was      $5,171,250 in current consideration paid by issuance of 4,925,000 shares      of the Company’s common stock.  The shares were issued in      September 2006.  As the effective date of the agreement was      January 18, 2006 and management of the Company assumed control of its      operations at that time.  The Company treated the stock issuance      as being effective on the effective date of the      acquisition.   In addition, the total purchase price also      included contingent consideration of 2,000,000 shares of the Company’s      common stock which were issued on June 30, 2008 at a value of $1,033,000.      The Company has valued the equity of Candidsoft  at $6,204,250      . |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                       |   |   |      |
|----------------------------|--------|--------|-----------|
| Goodwill                   |   | $      | 6,056,654 |   |
| Capitalized      software  |   |   | 69,240    |   |
| Other      assets          |   |   | 118,927   |   |
| Total assets      acquired |   |   | 6,244,821 |   |
|                       |   |   |      |   |
| Minority      interest     |   |   | (40,571   | ) |
| Net      assets acquired   |   | $      | 6,204,250 |   |

----

|   | 3. | On      March 23, 2007, the Company entered into an agreement to acquire 100% of      the common stock of StreamJet.Net, Inc. (“StreamJet”), a broadband data      streaming company.  The Company issued 4,725,000 shares of      common stock to shareholders of StreamJet in escrow pending closing of a      subsidiary merger agreement.  The Company had not completed the      merger at March 31, 2007 because certain deliverables of StreamJet had not      been received.  The shares are shown as outstanding at June 30,      2007, but no asset value has been placed on the Company’s      books.  On October 22, 2007, the Company completed the merger      and valued the equity of StreamJet at  $2,882,250. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Software      License    |   | $      | 2,974,293 |   |
|--------------------------|--------|--------|-----------|--------|
|                     |   |   |      |   |
| Liabilities      assumed |   |   | (92,043   | )      |
|                     |   |   |      |   |
| Net      assets acquired |   | $      | 2,882,250 |   |

|   | B. | Companies disposed of      prior to March 31, 2009 |
|--------|----|----------------------------------------------------|

|   | 1. | Effective      August 1, 2006, the Company acquired a 70% interest in the operations of      Beijing Techview System Engineering Co. Ltd. (“BTSE”), a network design      and installation company headquartered in Beijing, China.  The      purchase price was $1,920,000 in current consideration paid by issuance of      2,100,000 shares of the Company’s common stock.  In addition,      the total purchase price also includes contingent consideration of      4,000,000 shares of the Company’s common stock issuable upon the      attainment of certain performance milestones, expiring December 31,      2009.  The Company has valued the equity of Techview at      $1,920,000. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                       |   |   |      |
|----------------------------|--------|--------|-----------|
| Goodwill                   |   | $      | 2,087,852 |   |
| Minority      interest     |   |   | 61,278    |   |
| Total assets      acquired |   |   | 2,149,130 |   |
|                       |   |   |      |   |   |
| Liabilities      assumed   |   |   | (229,130  | ) |
|                       |   |   |      |   |   |
| Net      assets acquired   |   | $      | 1,920,000 |   |

----

|   | 2. | Effective      December 31, 2006, the Company acquired 100% of the common stock of VCG      Technologies Inc. d/b/a DTNet Technologies (“DTNet”), a value added      distributor of advanced broadband products and services company      headquartered in Florida.  The purchase price was $2,150,000 in      current consideration paid by issuance of 1,000,000 shares of the      Company’s common stock and notes payable for $1,000,000.  In      addition, the total purchase price also includes contingent consideration      of 1,000,000 shares of the Company’s common stock issuable upon the      attainment of certain performance milestones, of which 595,360 were issued      in satisfaction of the contingent consideration. The Company has valued      the equity of DTNet at $2,150,000 upon acquisition plus $509,521 (595,360      common shares) of contingent consideration for a total of      $2,659,521. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Goodwill                 |   | $      | 2,811,028 |   |
|--------------------------|--------|--------|-----------|--------|
|                     |   |   |      |   |
| Liabilities      assumed |   |   | (151,507  | )      |
|                     |   |   |      |   |
| Net      assets acquired |   | $      | 2,659,521 |   |

|   | 3. | On      June 14, 2007, the Company closed a subsidiary merger agreement to acquire      Phone House, Inc. (“Phone House”) a leading distributor of prepaid phone      cards.  The Company paid cash of $100,000, issued a six month      note for $159,179 and issued 650,000 shares of common stock at      closing.  In addition, the total purchase price also includes      contingent consideration of up to 1,500,000 shares of the Company’s common      stock issuable upon the attainment of certain performance milestones,      expiring June 30, 2010.  The Company has valued the equity of      Phone House at $545,179 on acquisition plus $598,050 (1,500,000 common      shares) of contingent consideration for a total  $1,143,229. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Accounts      receivable                   |   | $      | 421,519   |   |
|--------------------------------------------|--------|--------|-----------|--------|
| Inventory                                  |   |   | 156,545   |   |
| Property      and equipment                |   |   | 9,900     |   |
| Goodwill                                   |   |   | 1,060,508 |   |
| Total assets      acquired                 |   |   | 1,648,472 |   |
|                                       |   |   |      |   |
| Accounts      payable and accrued expenses |   |   | (498,884  | )      |
| Other      liabilities                     |   |   | (6,359    | )      |
| Total liabilities      assumed             |   |   | (505,243  | )      |
|                                       |   |   |      |   |
| Net      assets acquired                   |   | $      | 1,143,229 |   |

----

|   | 4. | On      July 19, 2007, the Company closed a subsidiary merger agreement to acquire      Dial Tone Communications, Inc. (“Dial Tone”) a leading distributor of      prepaid phone cards.  The Company paid cash of $27,501, issued a      three month note for $20,000 and issued 450,000 shares of common stock at      closing.  In addition, the total purchase price also includes      contingent consideration of up to 200,000 shares of the Company’s common      stock issuable upon the attainment of certain performance milestones,      expiring July 31, 2010. On June 13, 2008, the Company renegotiated the      terms of acquisition and canceled 300,000 of total 450,000 shares      previously issued.  The Company has valued the equity of Dial      Tone at $157,759 . |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                           |   |   |    |
|--------------------------------|--------|--------|---------|
| Accounts      receivable       |   | $      | 45,933  |   |
| Goodwill                       |   |   | 111,826 |   |
| Total assets      acquired     |   |   | 157,759 |   |
|                           |   |   |    |   |
| Total liabilities      assumed |   | None   |    |
|                           |   |   |    |   |
| Net      assets acquired       |   | $      | 157,759 |   |

|   | 5. | On      March 31, 2008, CVC International, a subsidiary of the Company acquired      all of the assets of Brilliant Telecom Group, LLC (“Brilliant Assets”) a      VoIP service provider.  The Company issued 1,000,000 shares of      common stock at closing.  The Company has valued the Brilliant      Assets at $1,040,000. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                           |   |   |      |
|--------------------------------|--------|--------|-----------|
| Software                       |   | $      | 125,000   |   |
| Property      and equipment    |   |   | 151,750   |   |
| Goodwill                       |   |   | 763,250   |   |
| Total assets      acquired     |   |   | 1,040,000 |   |
|                           |   |   |      |   |
| Total liabilities      assumed |   | None   |      |
|                           |   |   |      |   |
| Net      assets acquired       |   | $      | 1,040,000 |   |

----

|   | NOTE      3 - DISCONTINUED      OPERATION |
|--------|-------------------------------------------|

|                         |    |                                                             | Three      months                                    |                                                 | Three      months             |                                         | Nine      months        |                                                             | Nine      months                                |
|------------------------------|---------|------------------------------------------------------------------|------------------------------------------------------|------------------------------------------------------|-------------------------------|----------------------------------------------|-------------------------|------------------------------------------------------------------|-------------------------------------------------|
|                         |    |                                                             | Ended                                                |                                                 | Ended                         |                                         | Ended                   |                                                             | Ended                                           |
|                         |    |                                                             | 31-Mar-09                                            |                                                 | 31-Mar-08                     |                                         | 31-Mar-09               |                                                             | 31-Mar-08                                       |
|                         |    |                                                             |                                                 |                                                 |                          |                                         |                    |                                                             |                                            |
| Revenue                      |    |                                                             |  $      4,475,698 |                                                 |  $  12,062,279 |                                         |  $      33,687,278 |                                                             |  $     22,576,503 |
| Cost      of revenues        |    | 4,396,822                                                        |                                                 | 12,048,119                                           |                          | 32,983,340                                   |                    | 22,012,592                                                       |
| Gross      profit            |    | 78,876                                                           |                                                 | 14,160                                               |                          | 703,938                                      |                    | 563,911                                                          |
| Expenses                     |    |                                                             | 266,009                                              |                                                 | 200,924                       |                                         | 707,877                 |                                                             | 646,884                                         |
| Other      Income (expenses) | (4,055) |                                                             | (44,434)                                             |                                                 | 424,993                       |                                         | (44,434)                |
| Net      income (loss)       |    |  $        (191,188) |                                                 |  $      (231,198) |                          |  $     421,054 |                    |  $        (127,407) |

|                                                                      |   | March 31, 2009 |           |   | June 30, 2008 |   |
|---------------------------------------------------------------------------|--------|---------------------|----------------|--------|---------------|--------|
|                                                                      |   |                |           |   |          |   |
| Computer      equipment                                                   |   | $                   | 149,011        |   |          | $      | 428,682 |   |
| Furniture,      fixtures and equipment                                    |   |                | 315,434        |   |          |   | 297,896 |   |
| Motor      vehicles                                                       |   |                | 46,015         |   |          |   | 15,338 |   |
|                                                                      |   |                |           |   |          |   |   |   |
| Less:  accumulated      depreciation and      amortization |   |                |  (138,553 | )      |          |   | (152,962 | ) |
|                                                                      |   |                |           |   |          |   |   |   |
| Total      property and equipment                                         |   | $                   | 371,907        |   |          | $      | 588,954 |   |
|                                                                      |   |                |           |   |          |   |   |   |

----

|   | NOTE      5 – GOODWILL AND OTHER INTANGIBLEASSETS |
|--------|---------------------------------------------------------|

|                               |       Lives       |   | March, 31 2009 |       |   | June 30,2008 |          |
|------------------------------------|-------------------------------------------------------------------------------|--------|----------------|------------|--------|--------------|---------------|
|                               |                                                                          |   |           |       |   |         |          |
| Telecom      licenses              | 15      Years                                                                 |   | $              | 5,007,000  |   |         | $             | 5,007,000 |   |
| Software      licenses             | 15      Years                                                                 |   |           | 2,974,293  |   |         |          | 2,974,293 |   |
| Computer      software             | 10      Years                                                                 |   |           | -          |   |         |          | 125,249 |   |
| Patent      – software       | 10      Years                                                                 |   |           | 49,000     |   |         | ____________- |   |
| Total                              |                                                                          |   |           | 8,030293   |   |         |          | 8,106,542 |   |
| Less      accumulated amortization |                                                                          |   |           | (1,531,800 | )      |         |          | (1,142,224 | ) |
|                               |                                                                          |   | $              | 6,498,493  |   |         | $             | 6,964,318 |   |

----

|                                                                                                                                                                                                                                                                                                                             |   | March 31   |                                |   | June 30    |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------|-------------------------------------|--------|------------|--------|
|                                                                                                                                                                                                                                                                                                                             |   | 2009  |                                |   | 2008  |   |
|                                                                                                                                                                                                                                                                                                                             |   |       |                                |   |       |   |
| Note      payable to a third party with interest at 12% and collateralized by      certain assets held by a related party.  The note is due on      demand. Additionally, this note included detachable warrants to purchase      560,000 shares of the Company’s common stock, which expired May 31,      2006. |   | $          |        25,614   |   |       | $      |        50,112 |   |
|                                                                                                                                                                                                                                                                                                                             |   |       |                                |   |       |   |   |   |
| Note      payable to an individual, due on demand.  Interest accrues at      12% and is payable monthly.  The note is collateralized by      certain assets held by a related party and has detachable warrants to      purchase 22,400 shares of CHVC’s common stock.                                 |   |       |          - |   |       |   |          5,000 |   |
| Note      payable to an individual, interest accrues at 24% and is payable      monthly.  The note is collateralized by certain assets held by a      related party, and is due on demand.                                                                                                                             |   |       |      50,000          |   |       |   |      50,000 |   |
| Note      payable to an equipment vendor due May 1, 2011 at 12% interest secured by      computer equipment of DTNet Technologies.  The Company      anticipates early payoff of this debt and accordingly has classified it as      a current liability.                                                              |   |       |        -        |   |       |   |        53,540 |   |
|                                                                                                                                                                                                                                                                                                                             |   |       |                                |   |       |   |   |   |
| Note      payable to an individual due October 5, 2009 with interest at 18% and      collateralized by certain assets held by a related party.                                                                                                                                                                                   |   |       |     50,000           |   |       |   |    50,000 |   |
|                                                                                                                                                                                                                                                                                                                             |   |       |                                |   |       |   |   |   |
| Subtotal                                                                                                                                                                                                                                                                                                                         |   |       | 125,614                             |   |       |   | 208,652 |   |
| Less      discounts                                                                                                                                                                                                                                                                                                              |   |       | -                                   |   |       |   | - |   |
|                                                                                                                                                                                                                                                                                                                             |   |       |                                |   |       |   |   |   |
|                                                                                                                                                                                                                                                                                                                             |   |       | 125,614                             |   |       |   | 208,652 |   |
| Less      current portion                                                                                                                                                                                                                                                                                                        |   |       |   125,614                 |   |       |   | 158,652 |   |
|                                                                                                                                                                                                                                                                                                                             |   |       |                                |   |       |   |   |   |
| Long      Term Debt                                                                                                                                                                                                                                                                                                              |   | $          |   -                       |   |       | $      | 50,000 |   |

----

|                                                                                                                                                                                                                                                                                     |   | March 31 |                        |   | June 30 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|-----------------------------|--------|---------|--------|
|                                                                                                                                                                                                                                                                                     |   | 2009     |                        |   | 2008    |   |
|                                                                                                                                                                                                                                                                                     |   |     |                        |   |    |   |
| Company’s      VCG Technologies, Inc., d/b/a DTNet Technologies subsidiary  was      payable to a related party due December 31, 2008 with interest at      8%.  The note was secured by all of the common stock of the      Company’s DTNet subsidiary. |   | $        |  -                     |   |    | $      | 310,423 |   |
|                                                                                                                                                                                                                                                                                     |   |     |                        |   |    |   |   |   |
| Notes      Payable to investment entities controlled by a related party with interest      at 18% and due on May 15, 2009. The notes are secured by certain assets of      the Company.                                                                                                  |   |     |      235,000 |   |    |   |      - |   |
|                                                                                                                                                                                                                                                                                     |   |     |                        |   |    |   |   |   |

|                      |   |   | .             |   |   |   | .       |   |
|---------------------------|--------|--------|---------------|--------|--------|--------|---------|--------|
|                      |   |   | 235,000       |   |   |   | 310,423 |   |
| Less      current portion |   |   |  235,000 |   |   |   | 310,423 |   |
|                      |   |   |          |   |   |   |    |   |
| Long      term debt       |   | $      | -             |   |   | $      | -       |   |

| 2009   |   |   | 360,614 |   |
|--------|--------|--------|---------|--------|
| 2010   |   |   | -       |   |
| 2011   |   |   | -       |   |
| 2012   |   |   | -       |   |
|   |   |   |    |   |
| Total  |   | $      | 360,614 |   |

----

|                                                                                                             |   |                       |       |
|------------------------------------------------------------------------------------------------------------------|--------|----------------------------|------------|
|  Category                                                                                                   |   | Number      of Shares |       |   |  Value |   |
|                                                                                                             |   |                       |       |   |   |   |
| Services                                                                                                         |   |                       | 139,500    |   |   | $ | 29,490 |   |
| Net      cash invested                                                                                           |   |                       | 3,110,350  |   |   |   | 411,024 |   |
| In      connection with Stock  Purchase Agreement with Flint Telecom      Group dated January 29, 2009 |   |                       | 15,000,000 |   |   |   | 8,500,000 |   |
|                                                                                                             |   |                       |       |   |   |   |   |   |
| Total                                                                                                            |   |                       | 18,249,850 |   |   | $ | 8,940,514 |   |
| Less      amounts due from Flint Telecom Group sale representing stock subscription      receivable.             |   |                       | -          |   |   |   (8,500,000) |   |
|                                                                                                             |   |                       |       |   |   | $ | 440,514 |   |

----

----

| 2009  |   |   | 6,170   |   |
|-------|--------|--------|---------|--------|
| 2010  |   |   | 24,680  |   |
| 2011  |   |   | 24,680  |   |
| 2012  |   |   | 24,680  |   |
| Total |   | $      | 195,945 |   |

|   | NOTE      9 - RELATED      PARTY TRANSACTIONS |
|--------|-----------------------------------------------|

----

|   | NOTE      10 -      CONCENTRATION OF RISK |
|--------|-------------------------------------------|

|                                                   |  March 31, 2009                                        |        June 30,      2008 |
|--------------------------------------------------------|-------------------------------------------------------------|--------------------------------------------------------------|
|                                                   |                                                        |                                                         |
| Tangible      assets                                   | $     1,198,771                    | $345,230                                                     |
|                                                   |                                                        |                                                         |
| Goodwill      and other identifiable intangible assets | 12,507,897                                                  | 12,851,598                                                   |
|                                                   |                                                        |                                                         |
| Total      assets                                      | $        13,706,668 | $13,196,828                                                  |

----

|   | NOTE      11 – INCOME TAXES |
|--------|-----------------------------------|

|   | China      Taxation – Prior to January 1, 2008, the Company’s subsidiaries were      governed by the previous Income Tax Law (the “Previous IT Law”) of China.      Under the Previous IT Law, the Company’s subsidiaries were generally      subjected to enterprise income taxes at a statutory rate of 33% (30% state      income tax plus 3% local income tax) or 15% for qualified new and high      technology enterprises. Effective January 1, 2008, the new Enterprise      Income Tax Law (the “EIT Law”) in China supersedes the Previous IT Law and      unifies the enterprise income tax rate for FIEs at 25%. New and high      technology enterprises will continue to enjoy a preferential tax rate of      15% but must meet the new set of criteria defined under the EIT Law and      related regulations. The EIT Law provides a five-year transitional period      for certain entities that enjoyed a favorable income tax rate of less than      25% under the Previous IT Law and were established before March 16, 2007,      to gradually increase their rates to 25%. The EIT Law also imposes a      withholding income tax of 10% on dividends distributed by a      Foreign-Invested Enterprises (“FIE”) to its immediate holding company      outside of China, if such immediate holding company is considered as a      no-resident enterprise without any establishment or place within China or      if the received dividends have no connection with the establishment or      place of such immediate holding company within China, unless such      immediate holding company’s jurisdiction of incorporation has a tax treaty      with China that provides for a different withholding arrangement. Such      withholding income tax was exempted under the Previous IT Law. In      accordance with APB Option No. 23, “accounting for Income Taxes – Special      Area,” all undistributed earnings are presumed to be transferred to the      parent company and are subject to the withholding taxes. The withholding      tax imposed on the dividend income will reduce the Company’s net income.      If a withholding tax were imposed to retained earnings prior to January,      2008, the Company would elect to reinvest these retained earnings in PRC.      Accordingly, the Company has not recorded any withholding tax on the      retained earnings of its FIEs inChina. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The      EIT Law also provides that an enterprise established under the laws of      foreign countries or regions but whose “de facto management body” is      located in the PRC be treated as a resident enterprise for PRC tax      purposes and consequently be subject to the PRC income tax at the rate of      25% for its global income. The Implementing Rules of the EIT Law merely      defines the location of the “de facto management body” as “the place where      the exercising, in substance, of the overall management and control of the      production and business operation, personnel, accounting, properties,      etc., of a non-PRC company is located.” The determination of tax residency      requires a review of surrounding facts and circumstances of each case. If      the Company is treated as a resident enterprise for PRC tax purposes, the      Company will be subject to PRC tax on worldwide income at a uniform tax      rate of 25% starting from January 1,2008. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Like      its predecessor, the EIT Law mainly provides a framework for general      income tax provisions. There are currently divergent views on ho the EIT      Law will be implemented. Details on the definition of numerous terms as      well as the interpretation and specific application of various provisions      are left to the detailed implementing regulations and supplementary tax      circulars, which are still being issued. The Company’s ultimate effective      tax rate will depend on many factors, including but not limited to,      whether certain of the Company’s subsidiaries in China will receive the      new and high technology enterprise status under the new      criteria. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | NOTE      11 – INCOME TAXES (Continued) |
|--------|-----------------------------------------------|

|                            |   | March 31, 2009 |    |   | March 31, 2008 |   |
|---------------------------------|--------|----------------|---------|--------|----------------|--------|
|                            |   |           |    |   |           |   |
| Gain(loss)      from operations |   | $              | 676,268 |   |           | $      | (4,208,898 | ) |
|                            |   |           |    |   |           |   |   |   |
| Tax      benefit:               |   |           |    |   |           |   |   |   |
| Federal current                 |   |           | -       |   |           |   | - |   |
| Federaldeferred                 |   |           | -       |   |           |   | - |   |
| U.S. State                      |   |           | -       |   |           |   | - |   |
| Foreign                         |   |           | -       |   |           |   | - |   |
|                            |   |           |    |   |           |   |   |   |
| Total      tax benefit          |   | $              | -       |   |           | $      | - |   |
|                            |   |           |    |   |           |   |   |   |
| Effective      tax benefit rate |   |           | 0.0     | %      |           |   | 0.0 | % |

|   | The      difference between the tax benefit rate and the statutory benefit rate is      as follows: |
|--------|-----------------------------------------------------------------------------------------------------|

|                            |   | March 31, 2009 |   |   | March 31, 2008 |   |
|---------------------------------|--------|----------------|--------|--------|----------------|--------|
|                            |   |           |   |   |           |   |
| Statutory      benefit rate     |   |           | 34.0   | %      |           |   | 34.0 | % |
|                            |   |           |   |   |           |   |   |   |
| Non      taxable income         |   |           | (34.0  | %)     |           |   | (34.0 | %) |
|                            |   |           |   |   |           |   |   |   |
|                            |   |           |   |   |           |   |   |   |
| Effective      tax benefit rate |   |           | 0.0    | %      |           |   | 0.0 | % |

|                                      |   | March 31, 2009 |       |   | March 31, 2008 |   |
|-------------------------------------------|--------|---------------------|------------|--------|----------------|--------|
|                                      |   |                |       |   |           |   |
| Deductible      temporary differences:    |   |                |       |   |           |   |
| U.S. federal deferred operating      loss |   | $                   | 3,913,652  |   |           | $      | 2,856,661 |   |
| State deferred operating      loss        |   |                | -          |   |           |   | 420,898 |   |
| Foreign deferred operating      loss      |   |                | -          |   |           |   | 9,468 |   |
|                                      |   |                |       |   |           |   |   |   |
| Less:  valuation      allowance |   |                | (3,913,652 | )      |           |   | (3,207,031 | ) |
|                                      |   |                |       |   |           |   |   |   |
| Total      tax assets                     |   | $                   | -          |   |           | $      | - |   |

----

|   | NOTE      11 – INCOME TAXES (Continued) |
|--------|-----------------------------------------------|

| Expiration      Year   |   | Amount |      |
|------------------------|--------|--------|-----------|
|                   |   |   |      |
| 2025                   |   | $      | 457,895   |   |
| 2026                   |   |   | 1,499,867 |   |
| 2027                   |   |   | 4,790,794 |   |
|    2028 |   |   | 3,863,427 |   |
|    2029 |   |   | 898,759   |   |

|   |   |
|--------|--------|

|   | NOTE      12 – STOCK BASED COMPENSATION |
|--------|-----------------------------------------------|

|                                                                            |   | March 31, 2009 |   |   | March 31, 2008 |   |
|---------------------------------------------------------------------------------|--------|----------------|--------|--------|----------------|--------|
|                                                                            |   |           |   |   |           |   |
| Selling,      general and administrative                                        |   | $              | 0      |   |           | $      | 0 |   |
| Total      stock-based compensation expense included in operating      expenses |   | $              | 0      |   |           | $      | 0 |   |
| Total      stock-based compensation expense                                     |   | $              | 0      |   |           | $      | 0 |   |
|                                                                            |   |           |   |   |           |   |   |   |

----

|                                    |   | March 31, 2009 and June 30,      2008 |    |
|-----------------------------------------|--------|---------------------------------------|---------|
|                                    |   | Number of options                     |    |   | Weighted      average exerciseprice |   |
| Outstanding      at beginning of period |   |                                  | 48,513  |   |   | $ | 0.50 |   |
| Granted                                 |   |                                  | -       |   |   |   | - |   |
| Exercised                               |   |                                  | -       |   |   |   | - |   |
| Forfeited                               |   |                                  |  - |   |   |   | - |   |
|                                    |   |                                  |    |   |   |   |   |   |
| Outstanding      at end of period       |   |                                  | 48,513  |   |   | $ | 0.50 |   |
|                                    |   |                                  |    |   |   |   |   |   |
| Exercisable      at end of period       |   |                                  | 48,513  |   |   | $ | 0.50 |   |

----

|   |   |   Exercise      Price per Share |   |    Termination Date |                             |  In      connection with financing      transactions |   |    |    Shares |   |
|--------|--------|-------------------------------------------|--------|------------------------------------|----------------------------------|-----------------------------------------------------------|--------|---------|--------------------------|--------|
|   |   |                                      |   |                               |                             |                                                      |   |    |                     |   |
|   |   | $                                         | 0.40   |                               |    July      2009 |                                                      |   | 350,000 |                     |   |   | 350,000 |   |
|   |   |                                      |   |                               |                             |                                                      |   |    |                     |   |   |   |   |
|   |   |                                      |   |                               |                             |                                                      |   |    |                     |   |   |   |   |
|   |   |                                      |   |                               |                             |                                                      |   |    |                     |   |   |   |   |
| Total  |   |                                      |   |                               |                             |                                                      |   | 350,000 |                     |   |   | 350,000 |   |

----

----

----

----

----

| ITEM      3. | QUALITATIVE      AND QUANTITATIVE DISCLOSURE ABOUT MARKETRISK |
|--------------|---------------------------------------------------------------|

| ITEM      4T. | CONTROLS      AND PROCEDURES |
|---------------|------------------------------|

|   | (b) | Management’s      Report on Internal Control over Financial  Reporting |
|--------|-----|------------------------------------------------------------------------------|

----

|   | · | 139,500      shares were issued to 4 persons for consulting services valued at $29,490.      (5) |
|--------|--------|--------------------------------------------------------------------------------------------------|

|   | · | 3,010,350      shares were issued to 4 non-US persons in transactions under Regulation S,      for net proceeds of $411,024. (3) |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------|

|   | · | 100,000      shares were issued to 1 US person in a Regulation D offering in correction      of a prior issuance. (4) |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------|

|   | · | 15,000,000      shares were issued to one US person, pursuant to the Stock Purchase      Agreement with Flint dated January 29, 2009.(2) |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (1) | Exempt      under Section 4(2) of the Act as a sale for cash to a small group of      accredited or otherwise sophisticated investors not involving any public      offering. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Exempt      under Section 4(2) of the Act as an issuance of securities as      consideration for an acquisition of a company or block of assets from a      small group of sophisticatedsellers. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Exempt      under Regulation S promulgated under the Act as issuances of      restricted shares to non-US persons who provided subscription      representations in private transactions without any advertising or public      solicitation. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | Exempt      under Regulation D promulgated under the Act and Rule 506      thereof as sales to all accredited investors who provided subscription      representations in offerings that were not subject to public solicitation      and in which Form D notices werefiled. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | Exempt      under Section 4(2) as issuances of stock in lieu of compensation or      consulting fees to a small member of sophisticated persons not involving      any public offering. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (6) | Exempt      under such 3(a)(9) of the Act as an exchange of securities for other      outstanding securities of theRegistrant. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------|

|   | (7) | Exempt      under Section 4(2) of the Act as issuance of shares as additional      consideration for loans to the Registrant or in lieu of interest on loans,      to institutional and other accreditedinvestors. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 31.1 | Certification      by CEO pursuant to 18 USC Section 1350 as adopted by Section 302 of the      Sarbanes-Oxley Act of 2002. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------|

|   | 31.2 | Certification      by CFO pursuant to 18 USC Section 1350 as adopted by Section 302 of the      Sarbanes-Oxley Act of 2002. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------|

|   | 32.1 | Certification      by CEO/CFO pursuant to 18 USC Section 1350 as adopted by Section 906 of      the Sarbanes-Oxley Act of 2002. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------|

----

----