| x |   | Quarterly                report under Section 13 or 15(d) of the Securities Exchange Act of                1934 For                the quarterly period ended October                31, 2007 |
|---|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o | Transition                report under Section 13 or 15(d) of the Securities Exchange Act of                1934 For                the transition period from _____________ to                _____________ |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Delaware (State                or other Jurisdiction of Incorporation                or Organization) | 20-3290391(I.R.S.                Employer Identification                No.) |
|-----------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|

----

**Global      Services Partners Acquisition Corp.**

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

**INDEX        TO FINANCIAL STATEMENTS**

|                                                                                                                                                                                                                                       |   | **Pages** |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|
|                                                                                                                                                                                                                                       |   |      |
| Financial                    Statements:                                                                                                                                                                                                   |   |      |
|                                                                                                                                                                                                                                       |   |      |
| Balance                    Sheets, October 31, 2007 (Unaudited) and July 31, 2007                    (Audited)                                                                                                                             |   | F-2       |
|                                                                                                                                                                                                                                       |   |      |
| Statements                    of Operations, for the three months ended October 31, 2007 and                    2006 and                    the period from August 10, 2005 (inception) to October 31, 2007                    (Unaudited) |   | F-3       |
|                                                                                                                                                                                                                                       |   |      |
| Statements                    of Stockholders’ Equity, from August 10, 2005 (inception) to July 30, 2007                    (Audited) and for the three months ended October 31, 2007                    (Unaudited)                 |   | F-4       |
|                                                                                                                                                                                                                                       |   |      |
| Statements                    of Cash Flows, for the three months ended October 31, 2007 and                    2006 and                    the period from August 10, 2005 (inception) to October 31, 2007                    (Unaudited) |   | F-5       |
|                                                                                                                                                                                                                                       |   |      |
| Notes                    to Unaudited Financial Statements                                                                                                                                                                                 |   | F6-F12    |

*The          accompanying notes should be read in conjunction with the financial          statements*

----

**Global          Services Partners Acquisition Corp.**

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

**Condensed          Balance Sheets**

|                                                                                                                                                                                                                                                                               |   | **October 31, 2007** |       | **July                    31, 2007** |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------|------------|--------------------------------------|--------|
|                                                                                                                                                                                                                                                                               |   | **Unaudited**                  |       |                                 |   |
| **ASSETS**                                                                                                                                                                                                                                                                         |   |                           |       |                                 |   |
| **Current                    Assets:**                                                                                                                                                                                                                                             |   |                           |       |                                 |   |
| Cash                    and cash equivalents                                                                                                                                                                                                                                       |   | $                              | 495,126    |                                 | $      | 995,386 |   |
| Investment                      held in trust, including interest receivable of $83,996 and                      $84,647                      respectively (Notes 1 and 3)                                                                                                         |   |                           | 31,687,472 |                                 |   | 31,430,580 |   |
| Prepaid                    expenses                                                                                                                                                                                                                                                |   |                           | 30,000     |                                 |   | 41,000 |   |
| Total                    current assets                                                                                                                                                                                                                                            |   |                           | 32,212,598 |                                 |   | 32,466,966 |   |
| Deferred                    acquisition costs (Note 1)                                                                                                                                                                                                                             |   |                           | 400,780    |                                 |   | 17,404 |   |
| **Total                    assets**                                                                                                                                                                                                                                                |   | $                              | 32,613,378 |                                 | $      | 32,484,370 |   |
|                                                                                                                                                                                                                                                                               |   |                           |       |                                 |   |   |   |
| **LIABILITIES                    AND STOCKHOLDER'S EQUITY**                                                                                                                                                                                                                        |   |                           |       |                                 |   |   |   |
|                                                                                                                                                                                                                                                                               |   |                           |       |                                 |   |   |   |
| **Current                    Liabilities:**                                                                                                                                                                                                                                        |   |                           |       |                                 |   |   |   |
| Accounts                    payable and accrued expenses                                                                                                                                                                                                                           |   | $                              | 82,827     |                                 | $      | 78,047 |   |
| Accrued                    acquisition costs                                                                                                                                                                                                                                       |   |                           | 23,284     |                                 |   | - |   |
| Total                    current liabilities                                                                                                                                                                                                                                       |   |                           | 106,111    |                                 |   | 78,047 |   |
|                                                                                                                                                                                                                                                                               |   |                           |       |                                 |   |   |   |
| **Common                    stock, Class B subject to possible conversion**(1,195,402                    shares at conversion value) (Note 1)                                                                                                                                      |   |                           | 6,334,327  |                                 |   | 6,282,974 |   |
|                                                                                                                                                                                                                                                                               |   |                           |       |                                 |   |   |   |
| **Commitments**(Note                    5)                                                                                                                                                                                                                                         |   |                           |       |                                 |   |   |   |
|                                                                                                                                                                                                                                                                               |   |                           |       |                                 |   |   |   |
| **Stockholders'                    Equity**                    (Notes 2 and 6):                                                                                                                                                                                                    |   |                           |       |                                 |   |   |   |
|                                                                                                                                                                                                                                                                               |   |                           |       |                                 |   |   |   |
| Preferred                    stock, par value $.0001 per share, 5,000 shares authorized, 0                    shares                    issued                                                                                                                                     |   |                           | -          |                                 |   | - |   |
|                                                                                                                                                                                                                                                                               |   |                           |       |                                 |   |   |   |
| Common                    stock, par value $.0001 per share, 24,000,000 shares authorized,                    920,100                    shares issued and outstanding                                                                                                             |   |                           | 92         |                                 |   | 92 |   |
|                                                                                                                                                                                                                                                                               |   |                           |       |                                 |   |   |   |
| Common                    stock, Class B, par value $.0001 per share, 7,000,000 shares                    authorized,                    4,784,598 shares issued and outstanding (excluding 1,195,402                    shares                    subject to possible conversion) |   |                           | 478        |                                 |   | 478 |   |
|                                                                                                                                                                                                                                                                               |   |                           |       |                                 |   |   |   |
| Additional                    paid-in-capital                                                                                                                                                                                                                                      |   |                           | 25,417,174 |                                 |   | 25,468,527 |   |
| Retained                    earnings accumulated in the development stage                                                                                                                                                                                                          |   |                           | 755,196    |                                 |   | 654,252 |   |
|                                                                                                                                                                                                                                                                               |   |                           |       |                                 |   |   |   |
| Total                    stockholders' equity                                                                                                                                                                                                                                      |   |                           | 26,172,940 |                                 |   | 26,123,349 |   |
|                                                                                                                                                                                                                                                                               |   |                           |       |                                 |   |   |   |
| **Total                    liabilities and stockholders' equity**                                                                                                                                                                                                                  |   | $                              | 32,613,378 |                                 | $      | 32,484,370 |   |

*The          accompanying notes should be read in conjunction with the financial          statements*

----

**Global          Services Partners Acquisition Corp.**

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

**Condensed          Statements of Operations**

**(Unaudited)**

|                                                                                                                               |   | **For the three months****ended** |      | **For the three months****ended** |   | **From August 10, 2005****(inception) to** |                           |
|------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------|-----------|--------------------------------------------------|--------|----------------------------------------------------------------|--------------------------------|
|                                                                                                                               |   | **October                    31, 2007**          |      | **October                    31, 2006**          |   | **October                    31, 2007**                        |                           |
| **Operating                    expenses:**                                                                                         |   |                                             |      |                                             |   |                                                           |                           |
| Professional                    fees                                                                                               |   | $                                                | 109,844   |                         | $      | 57,873                                                         |       | $ | 428,213 |   |
| General                    and administrative expenses (Notes 4 & 5)                                                           |   |                                             | 53,214    |                                             |   | 67,538                                                         |                           |   | 354,301 |   |
|                                                                                                                               |   |                                             |      |                                             |   |                                                           |                           |   |   |   |
| **Loss                    from operations**                                                                                        |   |                                             | (163,058  | )                                                |   | (125,411                                                       | )                              |   | (782,514 | ) |
|                                                                                                                               |   |                                             |      |                                             |   |                                                           |                           |   |   |   |
| **Interest                    income**                                                                                             |   |                                             | 264,002   |                                             |   | 248,816                                                        |                           |   | 1,537,710 |   |
|                                                                                                                               |   |                                             |      |                                             |   |                                                           |                           |   |   |   |
| **Income                    before provision for income taxes**                                                                    |   |                                             | 100,944   |                                             |   | 123,405                                                        |                           |   | 755,196 |   |
|                                                                                                                               |   |                                             |      |                                             |   |                                                           |                           |   |   |   |
| **Provision                    for income taxes**(Note                    4)                                                       |   |                                             | -         |                                             |   | -                                                              |                           |   | - |   |
|                                                                                                                               |   |                                             |      |                                             |   |                                                           |                           |   |   |   |
| **Net                    income for the period**                                                                                   |   |                                             | 100,944   |                                             |   | 123,405                                                        |                           |   | 755,196 |   |
|                                                                                                                               |   |                                             |      |                                             |   |                                                           |                           |   |   |   |
| Accretion                      of Trust Fund relating to Class B common stock subject to possible                      conversion  |   |                                             | (51,353   | )                                                |   | (47,592                                                        | )                              |   | (297,547 | ) |
|                                                                                                                               |   |                                             |      |                                             |   |                                                           |                           |   |   |   |
| **Net                      income attributable to other Class B stockholders and common                      stockholders**        |   | $                                                | 49,591    |                                             | $      | 75,813                                                         |                           | $ | 457,649 |   |
|                                                                                                                               |   |                                             |      |                                             |   |                                                           |                           |   |   |   |
| **Class                      B common shares outstanding subject to possible                      conversion**                     |   |                                             | 1,195,402 |                                             |   | 1,195,402                                                      |                           |   |   |   |
|                                                                                                                               |   |                                             |      |                                             |   |                                                           |                           |   |   |   |
| **Net                      income per Class B common share subject to possible conversion,**basic                      and diluted |   | $                                                | 0.04      |                                             | $      | 0.04                                                           |                           |   |   |   |
|                                                                                                                               |   |                                             |      |                                             |   |                                                           |                           |   |   |   |
| **Weighted                      average number of common shares outstanding,**basic                      and diluted               |   |                                             | 5,704,698 |                                             |   | 5,704,698                                                      |                           |   |   |   |
| **Net                    income (loss) per share,**basic                    and diluted                                            |   | $                                                | 0.01      |                                             | $      | 0.01                                                           |                           |   |   |   |

*The          accompanying notes should be read in conjunction with the financial          statements*

----

**Global          Services Partners Acquisition Corp.**

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

**Statements          of Stockholders’ Equity**

|                                                                                                                                                                                                                                                                                                                                                                                                            |   | **Common                      Stock** |    | **Common Stock,****Class B** |   | **Additional****Paid                      -In** |   | **Retained earnings****accumulated in****the development** |      |        |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|---------|----------------------------------------|--------|-------------------------------------------------|--------|---------------------------------------------------------------------------|-----------|-------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                            |   | **Shares**                            |    | **Amount**                             |   | **Shares**                                      |   | **Amount**                                                                |      | **Capital** |   | **stage** |   |  **Total** |   |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |    |   |
| **Balance,                      August 10, 2005 (inception)**                                                                                                                                                                                                                                                                                                                                                   |   |                                  | -       |                                   | $      | -                                               |   |                                                                      | -         |        | $      | - |   | $ | - |   | $ | - |   | $ | - |   |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance                      of Common Stock to initial stockholder                                                                                                                                                                                                                                                                                                                                            |   |                                  | 100     |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   | 500 |   |   |   |   |   | 500 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance                      of 3,075,000 Warrants at $0.05 Per Warrant                                                                                                                                                                                                                                                                                                                                        |   |                                  | -       |                                   |   | -                                               |   |                                                                      | -         |        |   | - |   |   | 153,750 |   |   | - |   |   | 153,750 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Sale                        of 460,000 Series A Units and 2,990,000 Series                        B Units through public offering net of underwriter’s discount and offering                        expenses and net of proceeds of $6,036,780 allocable to 1,195,402                        shares                        of common stock, Class B subject to possible                        conversion |   |                                  | 920,000 |                                   |   | 92                                              |   |                                                                      | 4,784,598 |        |   | 478 |   |   | 25,560,371 |   |   | - |   |   | 25,560,941 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Proceeds                      from sale of underwriters’ purchase option                                                                                                                                                                                                                                                                                                                                  |   |                                  | -       |                                   |   | -                                               |   |                                                                      | -         |        |   | - |   |   | 100 |   |   | - |   |   | 100 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Accretion                      relating to Class B common stock subject to possible                      conversion                                                                                                                                                                                                                                                                                             |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   | (50,100 | ) |   |   |   |   | (50,100 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                      income for the period                                                                                                                                                                                                                                                                                                                                                                  |   |                                  | -       |                                   |   | -                                               |   |                                                                      | -         |        |   | - |   |   | - |   |   | 153,457 |   |   | 153,457 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| **Balance,                      July 31, 2006**                                                                                                                                                                                                                                                                                                                                                                 |   |                                  | 920,100 |                                   | $      | 92                                              |   |                                                                      | 4,784,598 |        | $      | 478 |   | $ | 25,664,621 |   | $ | 153,457 |   | $ | 25,818,648 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Accretion                      relating to Class B common stock subject to possible                      conversion                                                                                                                                                                                                                                                                                             |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   | (196,094 | ) |   |   |   |   | (196,094 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                      income for the year                                                                                                                                                                                                                                                                                                                                                                    |   |                                  | -       |                                   |   | -                                               |   |                                                                      | -         |        |   | - |   |   | - |   |   | 500,795 |   |   | 500,795 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| **Balance,                      July 31, 2007**                                                                                                                                                                                                                                                                                                                                                                 |   |                                  | 920,100 |                                   | $      | 92                                              |   |                                                                      | 4,784,598 |        | $      | 478 |   | $ | 25,468,527 |   | $ | 654,252 |   | $ | 26,123,349 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Accretion                      relating to Class B common stock subject to possible conversion                      (unaudited)                                                                                                                                                                                                                                                                                 |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   | (51,353 | ) |   |   |   |   | (51,353 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                      income for the three months ended October 31, 2007                      (Unaudited)                                                                                                                                                                                                                                                                                                    |   |                                  | -       |                                   |   | -                                               |   |                                                                      | -         |        |   | - |   |   | - |   |   | 100,944 |   |   | 100,944 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                  |    |                                   |   |                                            |   |                                                                      |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| **Balance,                      October 31, 2007 (Unaudited)**                                                                                                                                                                                                                                                                                                                                                  |   |                                  | 920,100 |                                   | $      | 92                                              |   |                                                                      | 4,784,598 |        | $      | 478 |   | $ | 25,417,174 |   | $ | 755,196 |   | $ | 26,172,940 |   |

*The              accompanying notes should be read in conjunction with the financial              statements*

----

**Global            Services Partners Acquisition Corp.**

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

**Statements            of Cash Flows**

**(Unaudited)**

|                                                                                                                                                                                                                                        |   | **For the three****months ended** |        | **For the three****months ended** |   | **From August 10,****2005 (inception) to** |                                 |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------|-------------|--------------------------------------------------|--------|----------------------------------------------------------------|--------------------------------------|
|                                                                                                                                                                                                                                        |   | **October 31, 2007**                   |        | **October 31, 2006**                   |   | **October 31, 2007**                                 |                                 |
| **CASH                      FLOW FROM OPERATING ACTIVITIES**                                                                                                                                                                                |   |                                             |        |                                             |   |                                                           |                                 |
| Net                      income for the period                                                                                                                                                                                              |   | $                                                | 100,944     |                         | $      | 123,405                                                        |        | $ | 755,196 |   |
| Adjustments                      to reconcile net income to net cash used in operating                      activities:                                                                                                                     |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| Gain                      on maturity of securities held in trust fund                                                                                                                                                                      |   |                                             | (257,543    | )                                                |   | (157,377                                                       | )                                    |   | (1,404,476 | ) |
| Change                      in operating assets and liabilities:                                                                                                                                                                            |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| Interest                      receivable on investment held in Trust Fund                                                                                                                                                                   |   |                                             | 651         |                                             |   | (80,701                                                        | )                                    |   | (83,996 | ) |
| Prepaid                      expenses                                                                                                                                                                                                       |   |                                             | 11,000      |                                             |   | (81,125                                                        | )                                    |   | (30,000 | ) |
| Accounts                      payable and accrued expenses                                                                                                                                                                                  |   |                                             | 4,780       |                                             |   | 47,523                                                         |                                 |   | 82,827 |   |
|                                                                                                                                                                                                                                        |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| **Net                      cash used in operating activities**                                                                                                                                                                              |   |                                             | (140,168    | )                                                |   | (148,275                                                       | )                                    |   | (680,449 | ) |
|                                                                                                                                                                                                                                        |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| **CASH                      FLOW FROM INVESTING ACTIVITIES**                                                                                                                                                                                |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| Purchase                      of securities held in trust fund                                                                                                                                                                              |   |                                             | (94,550,945 | )                                                |   | (91,585,830                                                    | )                                    |   | (586,328,297 | ) |
| Maturity                      of securities held in trust fund                                                                                                                                                                              |   |                                             | 94,550,945  |                                             |   | 91,585,830                                                     |                                 |   | 556,129,297 |   |
| Deferred                      acquisition costs                                                                                                                                                                                             |   |                                             | (360,092    | )                                                |   | -                                                              |                                 |   | (377,496 | ) |
| **Net                      cash used in investing activities**                                                                                                                                                                              |   |                                             | (360,092    | )                                                |   | -                                                              |                                 |   | (30,576,496 | ) |
|                                                                                                                                                                                                                                        |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| **CASH                      FLOW FROM FINANCING ACTIVITIES**                                                                                                                                                                                |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| Proceeds                      from issuance of common stock to initial stockholder                                                                                                                                                          |   |                                             | -           |                                             |   | -                                                              |                                 |   | 500 |   |
| Proceeds                      from issuance of warrants                                                                                                                                                                                     |   |                                             | -           |                                             |   | -                                                              |                                 |   | 153,750 |   |
| Proceeds                      from notes payable to initial securityholders                                                                                                                                                                 |   |                                             | -           |                                             |   | -                                                              |                                 |   | 52,500 |   |
| Registration                      costs paid                                                                                                                                                                                                |   |                                             | -           |                                             |   | (89,909                                                        | )                                    |   | (89,909 | ) |
| Repayment                      of notes payable to initial securityholders                                                                                                                                                                  |   |                                             | -           |                                             |   | -                                                              |                                 |   | (52,500 | ) |
| Proceeds                      from sale of underwriters’ purchase option                                                                                                                                                              |   |                                             | -           |                                             |   | -                                                              |                                 |   | 100 |   |
| Portion                      of net proceeds from sale of Series B units through public                      offering                      allocable to shares of common stock, Class B subject to possible                      conversion |   |                                             | -           |                                             |   | -                                                              |                                 |   | 6,036,780 |   |
| Net                      proceeds from sale of units through public offering allocable                      to                      stockholders’ equity                                                                              |   |                                             | -           |                                             |   | -                                                              |                                 |   | 25,650,850 |   |
|                                                                                                                                                                                                                                        |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| **Net                      cash (used in) provided by financing activities**                                                                                                                                                                |   |                                             | -           |                                             |   | (89,909                                                        | )                                    |   | 31,752,071 |   |
|                                                                                                                                                                                                                                        |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| **Net                      increase (decrease) in cash and cash equivalents**                                                                                                                                                               |   |                                             | (500,260    | )                                                |   | (238,184                                                       | )                                    |   | 495,126 |   |
|                                                                                                                                                                                                                                        |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| **Cash                      and cash equivalents**                                                                                                                                                                                          |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| Beginning                      of period                                                                                                                                                                                                    |   |                                             | 995,386     |                                             |   | 1,583,911                                                      |                                 |   | - |   |
| End                      of period                                                                                                                                                                                                          |   | $                                                | 495,126     |                                             | $      | 1,345,727                                                      |                                 | $ | 495,126 |   |
|                                                                                                                                                                                                                                        |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| **Supplemental                      disclosure of non-cash financing activities:**                                                                                                                                                          |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| Fair                      value of underwriter purchase option included in offering                      costs                                                                                                                              |   | $                                                | -           |                                             | $      | -                                                              |                                 | $ | 360,000 |   |
| Accrued                      accquisition costs                                                                                                                                                                                             |   | $                                                | 23,284      |                                             | $      | -                                                              |                                 | $ | 23,284 |   |
| Accretion                      relating to class B common stock subject to possible                      conversion                                                                                                                         |   | $                                                | 51,353      |                                             | $      | 47,592                                                         |                                 | $ | 297,547 |   |
|                                                                                                                                                                                                                                        |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| **Supplemental                      disclosure of cash flow information:**                                                                                                                                                                  |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
|                                                                                                                                                                                                                                        |   |                                             |        |                                             |   |                                                           |                                 |   |   |   |
| Cash                      paid for income taxes                                                                                                                                                                                             |   | $                                                | -           |                                             | $      | -                                                              |                                 | $ | - |   |
| Cash                      paid for interest                                                                                                                                                                                                 |   | $                                                | -           |                                             | $      | -                                                              |                                 | $ | - |   |

*The            accompanying notes should be read in conjunction with the financial            statements*

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**Global        Services Partners Acquisition Corp.**

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

**Notes        to Unaudited Financial Statements**

**NOTE      1**
**ORGANIZATION      AND ACTIVITIES**

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**Global        Services Partners Acquisition Corp.**

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

**Notes        to Unaudited Financial Statements**

**NOTE      2 - OFFERING **

**NOTE      3**
**SUMMARY      OF SIGNIFICANT ACCOUNTING POLICIES**

**Interim      Financial Statements**

**Cash      and Cash Equivalents**

**Concentration      of Credit Risk**

**Deferred      Acquisition Costs **

**Investments      Held in Trust/Income Taxes**

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**Global        Services Partners Acquisition Corp.**

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

**Notes        to Unaudited Financial Statements**

**Note      3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES      (CONTINUED)**

**Net      Income Per Share**

**Fair      Value of Financial Instruments and Derivatives**

**Use      of Estimates**

**Income      Taxes**

**New      Accounting Pronouncements –**

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**Global        Services Partners Acquisition Corp.**

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

**Notes        to Unaudited Financial Statements**

**NOTE      3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES      (CONTINUED)**

**NOTE      4 - TAXES**

*Income      Taxes*

*Other*

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**Global        Services Partners Acquisition Corp.**

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

**Notes        to Unaudited Financial Statements**

**NOTE      5**
**COMMITMENTS**

*Administrative      Services*

*Financial      Advisory Services*

*Solicitation      Services*

**NOTE      6 – CAPITAL STOCK **

*Preferred      Stock*

*Common      Stock and Class B Common Stock*

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**Global        Services Partners Acquisition Corp.**

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

**Notes        to Unaudited Financial Statements**

**NOTE      7 - WARRANTS AND OPTION TO PURCHASE COMMON STOCK**

*Warrants      *

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**Global        Services Partners Acquisition Corp.**

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

**Notes        to Unaudited Financial Statements**

**NOTE      7 - WARRANTS AND OPTION TO PURCHASE COMMON      STOCK-(CONTINUED)**

*Underwriter      Purchase Option *

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**ITEM 2.      Management’s Discussion and Analysis of Financial Condition and Results of      Operations.**

**General**

**Results      of Operations **

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**Liquidity      and Capital Resources **

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**ITEM      3. Quantitative and Qualitative Disclosures About Market      Risk.**

**ITEM      4. Controls and Procedures.**

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**ITEM      1A. Risk Factors.**

*Please      see the information disclosed in the “Risk Factors” section of our Registration      Statement on Form S-1, as amended (File No. 333-128350), as filed with the      SEC      on March 14, 2006 together with our prospectus filed in accordance with Rule      424(b)(4) on April 20, 2006. In addition, please see the information disclosed      in the “Risk Factors” section of our Report on Form 10-K for the year ended July      31, 2007, as filed with the SEC.*

**ITEM      2. Unregistered Sales of Equity Securities and Use of      Proceeds.**

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**ITEM      6. Exhibits.**

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|                                                | GLOBAL                SERVICES PARTNERS ACQUISITION CORP. |
|-----------------------------------------------------|-----------------------------------------------------------|
|                  Dated: December 13, 2007 |                                                 |                    |
|                                                | By:                                             | /s/ Rahul                Prakash |
|                                                |                                                      | Rahul                PrakashChairman                of the Board and Chief Executive Officer(Principal                Executive Officer) |
|                                                |                                                      |   |
|                                           |                                                      |   |
|                  Dated: December 13, 2007 |                                                 |                    |
|                                                | By:                                             | /s/ Avinash                Vashistha |
|                                                |                                                      | Avinash                VashisthaChief                Financial Officer and Executive Vice President(Principal                Financial and Accounting Officer) |

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