| x |   | Quarterly                report under Section 13 or 15(d) of the Securities Exchange Act of                1934 For the quarterly period ended April 30,                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.) |
|-----------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|

----

| Part                I: Financial Information                                                                                                     |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                             |   |
| Item                  1. Financial Statements (Unaudited):                                                                                       |   |
|                                                                                                                                             |   |
| Condensed                  Balance Sheets                                                                                                        | 3      |
|                                                                                                                                             |   |
| Condensed                  Statements of Operations                                                                                              | 4      |
|                                                                                                                                             |   |
| Condensed                  Statements of Stockholder's Equity                                                                                    | 5      |
|                                                                                                                                             |   |
| Condensed                  Statements of Cash Flows                                                                                              | 6      |
|                                                                                                                                             |   |
| Notes                  to Unaudited Condensed Financial Statements                                                                               | 7      |
|                                                                                                                                             |   |
| Item                  2. Management's Discussion and Analysis of Financial Condition                  and Results                  of Operations | 13     |
|                                                                                                                                             |   |
| Item                  3. Quantitative And Qualitative Disclosures About Market                  Risk                                             | 14     |
|                                                                                                                                             |   |
| Item                  4. Controls and Procedures                                                                                                 | 15     |
|                                                                                                                                             |   |
| Part                  II. Other Information.                                                                                                     |   |
|                                                                                                                                             |   |
| Item                  1A. Risk Factors                                                                                                           | 16     |
|                                                                                                                                             |   |
| Item                  2. Unregistered Sales of Equity Securities and Use of                  Proceeds                                            | 16     |
|                                                                                                                                             |   |
| Item                  6. Exhibits                                                                                                                | 16     |
|                                                                                                                                             |   |
| Signatures                                                                                                                                       | 17     |

----

**ITEM      1. Financial Statements.**

**Global      Services Partners Acquisition Corp.**

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

**Condensed      Balance Sheets**

|                                                                                                                                                             |   |   | **April                    30, 2007**  |   |   | **July                  31, 2006** |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------------------------------------------|--------|--------|------------------------------------|--------|
| **ASSETS**                                                                                                                                                  |   |   | **Unaudited**                               |   |   |                               |   |
|                                                                                                                                                        |   |   |                                        |   |   |                               |   |
| **Current                  Assets:**                                                                                                                        |   |   |                                        |   |   |                               |   |
| Cash                  and cash equivalents                                                                                                                  |   | $      | 1,109,096                                   |   | $      | 1,583,911                          |   |
| Investment                  held in trust, including                                                                                                        |   |   |                                        |   |   |                               |   |
| interest                  receivable of $83,252 and $80,929 (Note 1)                                                                                        |   |   | 31,173,644                                  |   |   | 30,449,626                         |   |
| Prepaid                  expenses                                                                                                                           |   |   | 55,000                                      |   |   | 4,125                              |   |
|                                                                                                                                                        |   |   |                                        |   |   |                               |   |
| **Total                  assets**                                                                                                                           |   | $      | 32,337,740                                  |   | $      | 32,037,662                         |   |
|                                                                                                                                                        |   |   |                                        |   |   |                               |   |
| **LIABILITIES                  AND STOCKHOLDERS' EQUITY**                                                                                                   |   |   |                                        |   |   |                               |   |
|                                                                                                                                                        |   |   |                                        |   |   |                               |   |
| **Current                  Liabilities:**                                                                                                                   |   |   |                                        |   |   |                               |   |
| Accrued                  registration costs                                                                                                                 |   | $      | -                                           |   | $      | 89,909                             |   |
| Accounts                  payable and accrued expenses                                                                                                      |   |   | 43,289                                      |   |   | 42,225                             |   |
| Total                  current liabilities                                                                                                                  |   |   | 43,289                                      |   |   | 132,134                            |   |
|                                                                                                                                                        |   |   |                                        |   |   |                               |   |
| **Common                  stock, Class B subject to possible conversion (1,195,402 shares                  at                  conversion value)** (Note 1) |   |   | 6,231,612                                   |   |   | 6,086,880                          |   |
|                                                                                                                                                        |   |   |                                        |   |   |                               |   |
| **Commitments**(Note                  5)                                                                                                                    |   |   |                                        |   |   |                               |   |
|                                                                                                                                                        |   |   |                                        |   |   |                               |   |
| **Stockholders'                  Equity**                  (Note 2, 6 and 7):                                                                               |   |   |                                        |   |   |                               |   |
|                                                                                                                                                        |   |   |                                        |   |   |                               |   |
| 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                                                                                                                 |   |   | 25,519,889                                  |   |   | 25,664,621                         |   |
| Retained                  earnings accumulated in the development stage                                                                                     |   |   | 542,380                                     |   |   | 153,457                            |   |
|                                                                                                                                                        |   |   |                                        |   |   |                               |   |
| Total                  stockholders' equity                                                                                                                 |   |   | 26,062,839                                  |   |   | 25,818,648                         |   |
|                                                                                                                                                        |   |   |                                        |   |   |                               |   |
| **Total                  liabilities and stockholders' equity**                                                                                             |   | $      | 32,337,740                                  |   | $      | 32,037,662                         |   |

----

**Global      Services Partners Acquisition Corp.**

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

**Condensed      Statements of Operations**

**(Unaudited)**

|                                                                                               |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
|----------------------------------------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------------------------------------------|--------|--------|----------------------------------------------------------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                               |   |   | **For                  the three**** months                  ended****April                  30,****2007** |   |   | **For                  the three**** months                  ended****April                  30,**** 2006** |   |   | **For                  the nine**** months                  ended****April                  30,**** 2007** |   |   | **For                  the period from inception (August 10, 2005) to****April                  30,**** 2006** |   |   | **For                  the period from inception (August 10, 2005) to****April                  30,**** 2007** |   |
| **Operating                  expenses:**                                                           |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| Professional                  fees                                                                 |   | $      | 44,714                                                                                                          |   | $      | 2,000                                                                                                                 |   | $      | 150,313                                                                                                              |   | $      | 15,747                                                                                                              |   | $      | 228,909                                                                                                             |   |
| General                  and administrative expenses (Notes 4 and 5)                               |   |   | 61,171                                                                                                          |   |   | 4,060                                                                                                                 |   |   | 210,519                                                                                                              |   |   | 4,323                                                                                                               |   |   | 237,382                                                                                                             |   |
|                                                                                               |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| **Loss                  from operations**                                                          |   |   | (105,885                                                                                                        | )      |   | (6,060                                                                                                                | )      |   | (360,832                                                                                                             | )      |   | (20,070                                                                                                             | )      |   | (466,291                                                                                                            | )      |
|                                                                                               |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| **Interest                  income**                                                               |   |   | 245,848                                                                                                         |   |   | 15,933                                                                                                                |   |   | 749,755                                                                                                              |   |   | 15,933                                                                                                              |   |   | 1,008,671                                                                                                           |   |
|                                                                                               |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| **Income                  (loss) before provision for income taxes**                               |   |   | 139,963                                                                                                         |   |   | 9,873                                                                                                                 |   |   | 388,923                                                                                                              |   |   | (4,137                                                                                                              | )      |   | 542,380                                                                                                             |   |
|                                                                                               |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| **Provision                  for income taxes (Note 4)**                                           |   |   | -                                                                                                               |   |   | -                                                                                                                     |   |   | -                                                                                                                    |   |   | -                                                                                                                   |   |   | -                                                                                                                   |   |
|                                                                                               |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| **Net                  income (loss) for the period**                                              |   |   | 139,963                                                                                                         |   |   | 9,873                                                                                                                 |   |   | 388,923                                                                                                              |   |   | (4,137                                                                                                              | )      |   | 542,380                                                                                                             |   |
|                                                                                               |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| Accretion                  of Trust Fund relating to Class B                                       |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| common                  stock subject to possible conversion                                       |   |   | (48,094                                                                                                         | )      |   | (3,185                                                                                                                | )      |   | (144,732                                                                                                             | )      |   | (3,185                                                                                                              | )      |   | (194,832                                                                                                            | )      |
|                                                                                               |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| **Net                  income (loss) attributable to other Class B                  stockholders** |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| **and                  common stockholders**                                                       |   | $      | 91,869                                                                                                          |   | $      | 6,688                                                                                                                 |   | $      | 244,191                                                                                                              |   | $      | (7,322                                                                                                              | )      | $      | 347,548                                                                                                             |   |
|                                                                                               |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
|                                                                                               |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| **Weighted                  average 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                                                                                                            |   | $      | -                                                                                                                     |   | $      | 0.12                                                                                                                 |   | $      | -                                                                                                                   |   |   |                                                                                                                |   |
|                                                                                               |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| **Weighted                  average number of shares outstanding,**basic                           |   |   |                                                                                                            |   |   |                                                                                                                  |   |   |                                                                                                                 |   |   |                                                                                                                |   |   |                                                                                                                |   |
| and                  diluted                                                                       |   |   | 5,704,698                                                                                                       |   |   | 465,269                                                                                                               |   |   | 5,704,698                                                                                                            |   |   | 156,918                                                                                                             |   |   |                                                                                                                |   |
| **Net                  income (loss) per share,**basic                  and diluted                |   | $      | 0.02                                                                                                            |   | $      | 0.01                                                                                                                  |   | $      | 0.04                                                                                                                 |   | $      | (0.05                                                                                                               | )      |   |                                                                                                                |   |

----

**Global          Services Partners Acquisition Corp.**

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

**Condensed          Statement 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                    (unaudited)                                                                                                                                                                                                                                                             |   |                                |    |                                                                     |   |                                      |   |                                                                    |      |        |   |   |   |   | (144,732 | ) |   |   |   |   | (144,732 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |                                |    |                                                                     |   |                                      |   |                                                                    |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    income for the period (unaudited)                                                                                                                                                                                                                                                                                                                                |   |                                | -       |                                                                     |   | -                                         |   |                                                                    | -         |        |   | - |   |   | - |   |   | 388,923 |   |   | 388,923 |   |
|                                                                                                                                                                                                                                                                                                                                                                                    |   |                                |    |                                                                     |   |                                      |   |                                                                    |      |        |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                    April 30, 2007 (unaudited)                                                                                                                                                                                                                                                                                                                                  |   |                                | 920,100 |                                                                     | $      | 92                                        |   |                                                                    | 4,784,598 |        | $      | 478 |   | $ | 25,519,889 |   | $ | 542,380 |   | $ | 26,062,839 |   |

----

**Global      Services Partners Acquisition Corp.**

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

**Condensed      Statements of Cash Flows**

**(Unaudited)**

|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                                  |   |   |                                                                                                                  |   |
|------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------------------------------------------------------------------------------------------------------------|--------|--------|------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                           |   |   | **For                  the nine**** months                  ended **  **April                  30,**** 2007** |   |   | **For                    the period from inception (August 10, 2005) to****April                      30, 2006** |   |   | **For                    the period from inception (August 10, 2005) to****April                      30, 2007** |   |
| **CASH                  FLOW FROM OPERATING ACTIVITIES**                                                                                       |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| Net                  income (loss) for the period                                                                                              |   | $      | 388,923                                                                                                                           |   | $      | (4,137                                                                                                           | )      | $      | 542,380                                                                                                          |   |
| Adjustments                  to reconcile net income to net cash used in operating                  activities:                                |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| Gain                  on maturity of securities held in trust fund                                                                             |   |   | (640,766                                                                                                                          | )      |   | -                                                                                                                |   |   | (891,392                                                                                                         | )      |
| Change                  in operating asset and liability:                                                                                      |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| Interest                  receivable on investment held in Trust Fund                                                                     |   |   | (83,252                                                                                                                           | )      |   | (15,933                                                                                                          | )      |   | (83,252                                                                                                          | )      |
| Increase                  in prepaid expenses                                                                                             |   |   | (50,875                                                                                                                           | )      |   | (5,500                                                                                                           | )      |   | (55,000                                                                                                          | )      |
| Increase                  (decrease) in accounts payable and accrued expenses                                                             |   |   | (88,845                                                                                                                           | )      |   | 12,556                                                                                                           |   |   | 43,289                                                                                                           |   |
|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| **Net                  cash used in operating activities**                                                                                     |   |   | (474,815                                                                                                                          | )      |   | (13,014                                                                                                          | )      |   | (443,975                                                                                                         | )      |
|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| **CASH                  FLOW FROM INVESTING ACTIVITIES**                                                                                       |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| Purchase                  of securities held in trust fund                                                                                     |   |   | (183,981,743                                                                                                                      | )      |   | (30,199,000                                                                                                      | )      |   | (397,995,877                                                                                                     | )      |
| Maturity                  of securities held in trust fund                                                                                     |   |   | 183,981,743                                                                                                                       |   |   |                                                                                                             |   |   | 367,796,877                                                                                                      |   |
|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| **Net                  cash used in investing activities**                                                                                     |   |   | -                                                                                                                                 |   |   | (30,199,000                                                                                                      | )      |   | (30,199,000                                                                                                      | )      |
|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| **CASH                  FLOW FROM FINANCING ACTIVITIES**                                                                                       |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| Proceeds                  from issuance of common stock to initial stockholder                                                                 |   |   | -                                                                                                                                 |   |   | 500                                                                                                              |   |   | 500                                                                                                              |   |
| Proceeds                  from issuance of warrants                                                                                            |   |   | -                                                                                                                                 |   |   | 153,750                                                                                                          |   |   | 153,750                                                                                                          |   |
| Proceeds                  from notes payable to initial securityholders                                                                        |   |   | -                                                                                                                                 |   |   | 52,500                                                                                                           |   |   | 52,500                                                                                                           |   |
| Repayment                  of notes payable to initial securityholders                                                                         |   |   | -                                                                                                                                 |   |   | -                                                                                                                |   |   | (52,500                                                                                                          | )      |
| Proceeds                  from sale of underwriters’ purchase option                                                                     |   |   | -                                                                                                                                 |   |   | 100                                                                                                              |   |   | 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                                                                                                        |   |   | 6,036,780                                                                                                        |   |
| Net                  proceeds from sale of units through public offering allocable                                                             |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| to                  stockholders’ equity                                                                                                 |   |   | -                                                                                                                                 |   |   | 25,727,785                                                                                                       |   |   | 25,560,941                                                                                                       |   |
|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| **Net                  cash provided by financing activities**                                                                                 |   |   | -                                                                                                                                 |   |   | 31,971,415                                                                                                       |   |   | 31,752,071                                                                                                       |   |
|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| **Net                  increase in cash and cash equivalents**                                                                                 |   |   | (474,815                                                                                                                          | )      |   | 1,759,401                                                                                                        |   |   | 1,109,096                                                                                                        |   |
|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| **Cash                  and cash equivalents**                                                                                                 |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| Beginning                  of period                                                                                                           |   |   | 1,583,911                                                                                                                         |   |   | -                                                                                                                |   |   | -                                                                                                                |   |
|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| End                  of period                                                                                                                 |   | $      | 1,109,096                                                                                                                         |   | $      | 1,759,401                                                                                                        |   | $      | 1,109,096                                                                                                        |   |
|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| **Supplemental                  disclosure of non-cash financing activities:**                                                                 |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| Accrued                  registration costs                                                                                                    |   | $      | -                                                                                                                                 |   | $      | 135,629                                                                                                          |   | $      | -                                                                                                                |   |
| Fair                  value of underwriter purchase option included in                                                                         |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| offering                  costs                                                                                                           |   | $      | -                                                                                                                                 |   | $      | 360,000                                                                                                          |   | $      | 360,000                                                                                                          |   |
|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| Accretion                  relating to class B common stock subject to possible                  conversion                                    |   | $      | 144,732                                                                                                                           |   | $      | 3,185                                                                                                            |   | $      | 194,832                                                                                                          |   |
|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| **Supplemental                  disclosure of cash flow information:**                                                                         |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
|                                                                                                                                           |   |   |                                                                                                                              |   |   |                                                                                                             |   |   |                                                                                                             |   |
| Cash                  paid for income taxes                                                                                                    |   | $      | -                                                                                                                                 |   | $      | -                                                                                                                |   | $      | -                                                                                                                |   |
| Cash                  paid for interest                                                                                                        |   | $      | -                                                                                                                                 |   | $      | -                                                                                                                |   | $      | -                                                                                                                |   |

----

**Global      Services Partners Acquisition Corp.**

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

**Notes      to Unaudited Financial      Statements**

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

----

**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**

**Investments      Held in Trust**

**Net      Income Per Share**

----

**       **

**Global        Services Partners Acquisition Corp.**

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

**Notes        to Unaudited Financial        Statements**

**Fair      Value of Financial Instruments and Derivatives**

*Accounting      for Derivative Instruments and Hedging Activities*
*as      amended*

**Use      of Estimates**

**Income      Taxes**

**New      Accounting Pronouncements -**

----

**Global        Services Partners Acquisition Corp.**

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

**Notes        to Unaudited Financial        Statements**

**NOTE        4 - INCOME TAXES**

*Income      Taxes*

*Other*

**NOTE      5**
**COMMITMENTS**

*Administrative      Services*

*Financial      Advisory Services*

*Solicitation      Services*

**NOTE      6 - CAPITAL STOCK **

*Preferred      Stock*

----

**Global          Services Partners Acquisition Corp.**

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

**Notes          to Unaudited Financial          Statements**

*Common      Stock and Class B Common Stock*

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

*Warrants      *

----

**Global          Services Partners Acquisition Corp.**

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

**Notes          to Unaudited Financial          Statements**

*Underwriter      Purchase Option *

----

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

*Forward              Looking Statements*

*Results            of Operations*

----

*Liquidity            and Capital Resources*

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

----

**ITEM        4. Controls and Procedures.**

----

**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.*

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

**ITEM      6. Exhibits.**

----

|                                         |                                                                                                                                     |                                |
|----------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------|
|                                         | GLOBAL              SERVICES              PARTNERS ACQUISITION CORP.                                                                     |
|  Dated: June 14,              2007 |                                                                                                                                |                           |
|                                         | By:                                                                                                                            | /s/ Rahul              Prakash |
|                                         | Rahul                PrakashChairman                of the Board and Chief Executive Officer(Principal                Executive Officer) |
|                                         |                                                                                                                                     |

|                                         |                                                                                                                                                           |                                    |
|----------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------|
|  Dated: June 14,              2007 |                                                                                                                                                      |                               |
|                                         | By:                                                                                                                                                  | /s/ Avinash              Vashistha |
|                                         | Avinash                VashisthaChief                Financial Officer and Executive Vice President(Principal                Financial and Accounting Officer) |
|                                         |                                                                                                                                                           |

----