**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      DC 20549**

**______________**

**FORM      10-Q**

| **x** | **QUARTERLY REPORT                PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF                1934** |
|-------|--------------------------------------------------------------------------------------------------------------------------------|

**For      the quarterly period ended June 30, 2007**

| **o** | **TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934** |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------|

**For      the transition period from ______ to ______.**

**Commission      file number: 001-33456**

**ORSUS      XELENT TECHNOLOGIES, INC. **

| **Delaware**(State                of incorporation) |   | **20-11998142**** **(I.R.S.                Employer Identification No.) |
|-----------------------------------------------------|--------|------------------------------------------------------------------------------|

**12**
**th**

**      Floor, Tower B, Chaowai MEN Office Building**

**26      Chaowai Street, Chaoyang Disc.**

**Beijing,      People’s Republic Of China 100020**

**86-10-85653777**

**Indicate      by check mark whether the registrant: (1) has filed all reports required to      be      filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during      the      preceding 12 months (or for such shorter period that the registrant was required      to file such reports), and (2) has been subject to such filing requirements      for      the past 90 days.**

|   | **Yes                  x** |  **No                  o** |
|--------|----------------------------|---------------------------------|

**Indicate      by check mark whether the registrant is an accelerated filer (as defined in      Rule      12-b2 of the Exchange Act).**

|   | **Yes                    o** | **No                    x** |
|--------|------------------------------|-----------------------------|

**Indicate        by check mark whether the registrant is a shell Registrant (as defined in        Rule        12-b2 of the Exchange Act).**

|   | **Yes                      o** | **No                      x** |
|--------|--------------------------------|-------------------------------|

**Indicate          the number of shares outstanding of each of the issuer’s classes of common          stock, as of the latest practicable date.**

| **Class**                                                  |   | **Outstanding                at August 13, 2007** |
|------------------------------------------------------------|--------|---------------------------------------------------|
| **Common                Stock, $.001 par value per share** |   | **29,756,000****shares**                          |

----

**PART      I - FINANCIAL INFORMATION**

| **Item                  1.** | **Financial                  Statements.** |
|------------------------------|--------------------------------------------|

**Orsus      Xelent Technologies, Inc.**

**Index      to Financial Statements**

|                                                                                       | Page   |
|--------------------------------------------------------------------------------------------|--------|
|                                                                                       |   |
| Condensed                Consolidated Statements of Operations (Unaudited)                 | 2      |
|                                                                                       |   |
| Condensed                Consolidated Balance Sheets (Unaudited)                           | 3      |
|                                                                                       |   |
| Condensed                Consolidated Statement of Cash Flows (Unaudited)                  | 4      |
|                                                                                       |   |
| Consolidated                Statement of Changes in Stockholders’ Equity (Unaudited) | 5      |
|                                                                                       |   |
| Notes                to Condensed Consolidated Financial Statements                        | 6      |

----

**Orsus      Xelent Technologies, Inc.**

| **Condensed              Consolidated              Statements of Operations (Unaudited)**  |   |
|-------------------------------------------------------------------------------------------------|--------|
|                                                                                            |   |   |   | **(Unaudited)****Three                months ended****June                30,** |   | **(Unaudited)****Six                months ended****June                30,** |   |
|                                                                                            |   |   |   | **2007** |   | **2006** |   | **2007** |   | **2006** |   |
|                                                                                            |        |  |  ***Note*** |   | ***$*** | ***US000*** |   | ***$*** | ***US000*** | ** ** | ***$*** | ***US000*** | ** ** | ***$*** | ***US000*** |   |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Operating                revenues:**                                                          |   |   |   |   |   | **16,356** |   |   | 17,009 |   |   | **36,365** |   |   | 25,376 |   |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Operating                expenses:**                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost                of sales                                                                    |   |   |   |   |   | **13,181** |   |   | 14,670 |   |   | **29,522** |   |   | 21,163 |   |
| Sales                and marketing                                                              |   |   |   |   |   | **134** |   |   | 342 |   |   | **247** |   |   | 786 |   |
| General                and administrative                                                       |   |   |   |   |   | **614** |   |   | 500 |   |   | **1,988** |   |   | 689 |   |
| Research                and development                                                         |   |   |   |   |   | **243** |   |   | 66 |   |   | **296** |   |   | 147 |   |
| Depreciation                                                                                    |   |   |   |   |   | **35** |   |   | 100 |   |   | **87** |   |   | 125 |   |
| Allowance                for obsolete inventories                                               |   |   |   |   |   | **272** |   |   |   |   |   | **592** |   |   |   |   |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                operating expenses                                                         |   |   |   |   |   | **14,479** |   |   | 15,678 |   |   | **32,732** |   |   | 22,910 |   |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Operating                profit**                                                             |   |   |   |   |   | **1,877** |   |   | 1,331 |   |   | **3,633** |   |   | 2,466 |   |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                expense                                                                 |   |   |   |   |   | **(177** | **)** |   | (29 | ) |   | **(304** | **)** |   | (29 | ) |
| Other                income, net                                                                |   |   |   |   |   | **5** |   |   | 3 |   |   | **7** |   |   | 5 |   |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Income                before income taxes**                                                   |   |   |   |   |   | **1,705** |   |   | 1,305 |   |   | **3,336** |   |   | 2,442 |   |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income                taxes                                                                     |   |   | *3* |   |   | **(256** | **)** |   | (160 | ) |   | **(640** | **)** |   | (160 | ) |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Net                income**                                                                   |   |   |   |   |   | **1,449** |   |   | 1,145 |   |   | **2,696** |   |   | 2,282 |   |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other                comprehensive income                                                       |   |   |   |   |   | **—** |   |   | — |   |   | **—** |   |   | — |   |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                            |   |   |   |   |   | **1,449** |   |   | 1,145 |   |   | **2,696** |   |   | 2,282 |   |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Earnings                per share:**                                                          |   |   | *2* |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic                and diluted                                                                |   |   |   |   |   | **0.05** |   |   | 0.04 |   |   | **0.09** |   |   | 0.08 |   |
|                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted                average number of common stock outstanding                              |   |   |   |   |   | **29,756,000** |   |   | 29,756,000 |   |   | **29,756,000** |   |   | 29,756,000 |   |

*The      accompanying notes are an integral part of these consolidated financial      statements.*

----

**Orsus      Xelent Technologies, Inc.**

| **Condensed              Consolidated Balance              Sheets (Unaudited)**                                                   |   |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                   |   |   |   | **As                of****June                30,****2007** |   | **As                of****December                31,****2006** |   |
|                                                                                                                                   |   | ***Note*** |   | ***US$000*** |   | ***US$000*** |   |
| **ASSETS**                                                                                                                             |   |   |   |   |   |   |   |
| **Current                assets**                                                                                                      |   |   |   |   |   |   |   |
| Cash                and cash equivalents                                                                                               |   |   |   |   |   | **2,315** |   |   | 2,421 |   |
| Accounts                receivable, net of allowance for doubtfulaccounts                of US$Nil *(2006:                US$230,000)* |   |   |   |   |   | **38,508** |   |   | 31,425 |   |
| Inventories                                                                                                                            |   |   |   |   |   | **271** |   |   | 1,230 |   |
| Trade                deposit paid                                                                                                      |   |   |   |   |   | **12,221** |   |   | 8,989 |   |
| Advance                to third party                                                                                                  |   |   |   |   |   | **—** |   |   | 288 |   |
| Other                current assets                                                                                                    |   |   |   |   |   | **63** |   |   | 86 |   |
| Pledged                deposit                                                                                                         |   |   | *4* |   |   | **1,128** |   |   | 1,128 |   |
|                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |
| Total                current assets                                                                                                    |   |   |   |   |   | **54,506** |   |   | 45,567 |   |
|                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |
| Property,                plant and equipment, net                                                                                      |   |   | *5* |   |   | **418** |   |   | 320 |   |
|                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |
| **Total                assets**                                                                                                        |   |   |   |   |   | **54,924** |   |   | 45,887 |   |
|                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |
| **LIABILITIES                AND STOCKHOLDERS’ EQUITY**                                                                          |   |   |   |   |   |   |   |   |   |   |
| **Current                liabilities**                                                                                                 |   |   |   |   |   |   |   |   |   |   |
| Short-term                bank loans                                                                                                   |   |   | *6* |   |   | **8,571** |   |   | 6,268 |   |
| Accounts                payable                                                                                                        |   |   |   |   |   | **11,937** |   |   | 10,964 |   |
| Accrued                expenses and other accrued liabilities                                                                          |   |   |   |   |   | **5,920** |   |   | 4,444 |   |
| Trade                deposits                received                                                                                  |   |   |   |   |   | **1,013** |   |   | 251 |   |
| Due                to directors                                                                                                        |   |   | *9* |   |   | **324** |   |   | 330 |   |
| Due                to a stockholder                                                                                                    |   |   | *9* |   |   | **133** |   |   | — |   |
| Provision                for warranty                                                                                                  |   |   |   |   |   | **115** |   |   | 53 |   |
| Tax                payables                                                                                                            |   |   |   |   |   | **1,932** |   |   | 1,294 |   |
|                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |
| Total                current liabilities                                                                                               |   |   |   |   |   | **29,945** |   |   | 23,604 |   |
|                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |
| **Commitments                and contingencies**                                                                                       |   |   | *8* |   |   |   |   |   |   |   |
|                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |
| **Stockholders’                equity**                                                                                          |   |   |   |   |   |   |   |   |   |   |
| Preferred                stock, US$0.001 par value:Authorized:                100,000,000 shares, no shares issued                     |   |   |   |   |   | **—** |   |   | — |   |
| Common                stock and paid-in capital, US$0.001 par value:Authorized:                100,000,000 shares                      |   |   |   |   |   |   |   |   |   |   |
| Issued                and outstanding: 29,756,000 shares as of June 30, 2007and                as of December 31, 2006                 |   |   |   |   |   | **30** |   |   | 30 |   |
| Additional                paid-in capital                                                                                              |   |   |   |   |   | **2,484** |   |   | 2,484 |   |
| Dedicated                reserves                                                                                                      |   |   |   |   |   | **1,042** |   |   | 1,042 |   |
| Other                comprehensive income                                                                                              |   |   |   |   |   | **975** |   |   | 975 |   |
| Retained                earnings                                                                                                       |   |   |   |   |   | **20,448** |   |   | 17,752 |   |
|                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |
| Total                stockholders’ equity                                                                                        |   |   |   |   |   | **24,979** |   |   | 22,283 |   |
|                                                                                                                                   |   |   |   |   |   |   |   |   |   |   |
| **Total                liabilities and stockholders’ equity**                                                                    |   |   |   |   |   | **54,924** |   |   | 45,887 |   |

*The      accompanying notes are an integral part of these consolidated financial      statements.*

----

**Orsus      Xelent Technologies, Inc.**

| **Condensed              Consolidated              Statements of Cash Flows (Unaudited)**              |   |
|-------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                        |   |   |   |
|                                                                                                        |   | **(Unaudited)** |   |
|                                                                                                        |   | **Six                months ended****June                30,** |   |
|                                                                                                        |   | **2007** |   | **2006** |   |
|                                                                                                        |   | ***US$000*** |   | ***US$000*** |   |
| **Cash                flows from operating activities**                                                     |   |   |   |   |   |
| **Net                income**                                                                               |   |   | **2,696** |   |   | 2,282 |   |
| Adjustments                to reconcile net income to net cash used in operating                activities: |   |   |   |   |   |   |   |
| Depreciation                                                                                                |   |   | **87** |   |   | 125 |   |
| Allowance                for obsolete inventory                                                             |   |   | **592** |   |   | — |   |
| Allowance                for doubtful account                                                               |   |   | **1,409** |   |   | — |   |
| Changes                in assets and liabilities:                                                           |   |   |   |   |   |   |   |
| Accounts                receivable                                                                          |   |   | **(7,083** | **)** |   | (8,107 | ) |
| Inventories,                net                                                                             |   |   | **367** |   |   | 786 |   |
| Trade                deposits paid                                                                          |   |   | **(4,641** | **)** |   | 2,526 |   |
| Other                current assets                                                                         |   |   | **23** |   |   | 29 |   |
| Trade                deposits received                                                                      |   |   | **762** |   |   | (5,172 | ) |
| Accounts                payable                                                                             |   |   | **973** |   |   | 2,019 |   |
| Due                to directors                                                                             |   |   | **(133** | **)** |   | — |   |
| Due                to a stockholder                                                                         |   |   | **133** |   |   | — |   |
| Provision                for warranty                                                                       |   |   | **62** |   |   | (56 | ) |
| Accrued                expenses and other accrued liabilities                                               |   |   | **1,474** |   |   | 705 |   |
| Provision                for taxation                                                                       |   |   | **640** |   |   | 160 |   |
|                                                                                                        |   |   |   |   |   |   |   |
| **Net                cash used in operating activities**                                                    |   |   | **(2,639** | **)** |   | (4,703 | ) |
|                                                                                                        |   |   |   |   |   |   |   |
| **Cash                flows from investing activities**                                                     |   |   |   |   |   |   |   |
| Purchase                of property, plant and equipment                                                    |   |   | **(185** | **)** |   | (150 | ) |
| Advance                from directors                                                                       |   |   | **127** |   |   | — |   |
| Repayment                from (Loan to) third parties                                                       |   |   | **288** |   |   | (249 | ) |
|                                                                                                        |   |   |   |   |   |   |   |
| **Net                cash provided by (used in) investing activities**                                      |   |   | **230** |   |   | (399 | ) |
|                                                                                                        |   |   |   |   |   |   |   |
| **Cash                flows from financing activities**                                                     |   |   |   |   |   |   |   |
| Borrowing                from bank                                                                          |   |   | **2,303** |   |   | 2,477 |   |
|                                                                                                        |   |   |   |   |   |   |   |
| **Net                cash provided by financing activities**                                                |   |   | **2,303** |   |   | 2,477 |   |
|                                                                                                        |   |   |   |   |   |   |   |
| **Net                decrease in cash and cash equivalents**                                                |   |   | **(106** | **)** |   | (2,625 | ) |
|                                                                                                        |   |   |   |   |   |   |   |
| **Cash                and cash equivalents, beginning of the period**                                       |   |   | **2,421** |   |   | 2,974 |   |
|                                                                                                        |   |   |   |   |   |   |   |
| **Cash                and cash equivalents, end of the period**                                             |   |   | **2,315** |   |   | 349 |   |
|                                                                                                        |   |   |   |   |   |   |   |
| **Supplemental                disclosure information**                                                      |   |   |   |   |   |   |   |
| Interest                expenses                                                                            |   |   | **304** |   |   | 29 |   |

*The      accompanying notes are an integral part of these consolidated financial      statements.*

----

**Orsus      Xelent Technologies, Inc.**

**Consolidated      Statements of Changes in Stockholders’ Equity      (Unaudited)**

|                                                                         |   | **Common                stock issued** |           |             |   |                                 |   |                      |      |                                      |   |                     |   |
|------------------------------------------------------------------------------|--------|----------------------------------------|----------------|------------------|--------|--------------------------------------|--------|---------------------------|-----------|-------------------------------------------|--------|--------------------------|--------|
|                                                                         |   | **No.                of****shares**    |           |  **Amount** |   | **Additional****paid-in****capital** |   | **Dedicated****reserves** |      | **Other****compre-****hensive****income** |   | **Retained****earnings** |   |  **Total** |   |
|                                                                         |   |                                   |           | *US$000*         |   | *US$000*                             |   | *US$000*                  |      | *US$000*                                  |   | *US$000*                 |   | *US$000* |   |
|                                                                         |   |                                   |           |             |   |                                 |   |                      |      |                                      |   |                     |   |   |   |
| Balance                as of January 1, 2006                                 |   |                                   | 29,756,000     |             |   | 30                                   |   |                      | 2,484     |                                      |   | 1,042                    |   |   | 349 |   |   | 11,034 |   |   | 14,939 |   |
|                                                                         |   |                                   |           |             |   |                                 |   |                      |      |                                      |   |                     |   |   |   |   |   |   |   |   |   |   |
| Net                income                                                    |   |                                   | —        |             |   | —                              |   |                      | —   |                                      |   | —                  |   |   | — |   |   | 6,718 |   |   | 6,718 |   |
|                                                                         |   |                                   |           |             |   |                                 |   |                      |      |                                      |   |                     |   |   |   |   |   |   |   |   |   |   |
| Foreign                currency translation adjustment                       |   |                                   | —        |             |   | —                              |   |                      | —   |                                      |   | —                  |   |   | 626 |   |   | — |   |   | 626 |   |
|                                                                         |   |                                   |           |             |   |                                 |   |                      |      |                                      |   |                     |   |   |   |   |   |   |   |   |   |   |
| Balance                as of December 31, 2006                               |   |                                   | 29,756,000     |             |   | 30                                   |   |                      | 2,484     |                                      |   | 1,042                    |   |   | 975 |   |   | 17,752 |   |   | 22,283 |   |
|                                                                         |   |                                   |           |             |   |                                 |   |                      |      |                                      |   |                     |   |   |   |   |   |   |   |   |   |   |
| Net                income                                                    |   |                                   | —        |             |   | —                              |   |                      | —   |                                      |   | —                  |   |   | — |   |   | 2,696 |   |   | 2,696 |   |
|                                                                         |   |                                   |           |             |   |                                 |   |                      |      |                                      |   |                     |   |   |   |   |   |   |   |   |   |   |
| **Balance                as at****June                30, 2007 (Unaudited)** |   |                                   | **29,756,000** |             |   | **30**                               |   |                      | **2,484** |                                      |   | **1,042**                |   |   | **975** |   |   | **20,448** |   |   | **24,979** |   |

*The      accompanying notes are an integral part of these consolidated financial      statements.*

----

| **Orsus                  Xelent Technologies, Inc.**                                        |
|--------------------------------------------------------------------------------------------------|
|                                                                                             |
| **Notes                  to Condensed Consolidated Financial                  Statements**  |

| **1.** | **PREPARATION                OF INTERIM FINANCIAL                STATEMENTS** |
|--------|-------------------------------------------------------------------------------|

| **2.** | **EARNINGS                PER SHARE** |
|--------|---------------------------------------|

| **3.** | **INCOME                TAXES** |
|--------|---------------------------------|

----

| **Orsus                    Xelent Technologies, Inc.**                                          |
|------------------------------------------------------------------------------------------------------|
|                                                                                                 |
| **Notes                    to Condensed Consolidated Financial                    Statements**  |

| **3.** | **INCOME                TAXES (CONTINUED)** |
|--------|---------------------------------------------|

----

 

| **Orsus                    Xelent Technologies, Inc.**                                          |
|------------------------------------------------------------------------------------------------------|
|                                                                                                 |
| **Notes                    to Condensed Consolidated Financial                    Statements**  |

| **3.** | **INCOME                  TAXES (CONTINUED)** |
|--------|-----------------------------------------------|

| **4.** | **PLEDGED                DEPOSIT** |
|--------|------------------------------------|

| **5.** | **PROPERTY,                PLANT AND EQUIPMENT, NET** |
|--------|-------------------------------------------------------|

|                                    |   |                                                        |     |                                                |   |
|-----------------------------------------|--------|-------------------------------------------------------------|----------|-----------------------------------------------------|--------|
|                                    |   | **(Unaudited)**                                             |     |                                                |   |
|                                    |   | **As                of****June                30,****2007** |     | As                ofDecember                31,2006 |   |
|                                    |   | ***US$’000***                                         |     | *US$’000*                                     |   |
|                                    |   |                                                        |     |                                                |   |
| Moulds                                  |   |                                                        | **115**  |                                                |   | 107 |   |
| Leasehold                improvements   |   |                                                        | **115**  |                                                |   | 115 |   |
| Plant                and machinery      |   |                                                        | **18**   |                                                |   | 18 |   |
| Office                equipment         |   |                                                        | **266**  |                                                |   | 266 |   |
| Motor                vehicles           |   |                                                        | **266**  |                                                |   | 89 |   |
|                                    |   |                                                        |     |                                                |   |   |   |
|                                    |   |                                                        | **780**  |                                                |   | 595 |   |
|                                    |   |                                                        |     |                                                |   |   |   |
| Accumulated                depreciation |   |                                                        | **(362** | **)**                                               |   | (275 | ) |
|                                    |   |                                                        |     |                                                |   |   |   |
|                                    |   |                                                        | **418**  |                                                |   | 320 |   |

----

| **Orsus                      Xelent Technologies, Inc.**                                            |
|----------------------------------------------------------------------------------------------------------|
|                                                                                                     |
| **Notes                      to Condensed Consolidated Financial                      Statements**  |

| **6.** | **SHORT-TERM                BANK LOANS** |
|--------|------------------------------------------|

|   | All                bank loans are secured by guarantee provided by the director, Mr.                Liu Yu.                Bank loans of US$6,268,000 are further secured by guarantees provided                by a                guaranty company as set out in note 4 to the financial statements.                The                bank loans are repayable within one year at interest rates ranging                from                7.344% to 7.956% per annum. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **7.** | **SEGMENT                INFORMATION** |
|--------|----------------------------------------|

| **8.** | **COMMITMENTS                AND CONTINGENCIES** |
|--------|--------------------------------------------------|

| **9.** | **RELATED                PARTY TRANSACTION** |
|--------|----------------------------------------------|

|  | **a.** | **Name                and relationship of related                parties** |
|--|--------|----------------------------------------------------------------------------|

|                             |   |                                                                                                  |
|----------------------------------|--------|-------------------------------------------------------------------------------------------------------|
| **Related                party** |   | **Relationship                with the Company during the period ended June 30,                2007** |
|                             |   |                                                                                                  |
| Mr.                Wang Xin      |   | Director                and stockholder of the Company                                                |
| Mr.                Liu Yu        |   | Director                and stockholder of the Company                                                |
| Mr.                Wang Zhibin   |   | Stockholder                of the Company #                                                           |

|  | # | Ceased                to be a director since February 7,                2007 |
|--|---|------------------------------------------------------------------------------|

----

| **Orsus                Xelent Technologies, Inc.**                                      |
|----------------------------------------------------------------------------------------------|
|                                                                                         |
| **Notes                to Condensed Consolidated Financial                Statements**  |

| **9.** | **RELATED                PARTY TRANSACTION                (CONTINUED)** |
|--------|-------------------------------------------------------------------------|

|  | **b.** | **Summary                of related party balances** |
|--|--------|------------------------------------------------------|

|                                                        |   |       |             | **(Unaudited)**                                             |   |                                                            |   |
|-------------------------------------------------------------|--------|------------|------------------|-------------------------------------------------------------|--------|-----------------------------------------------------------------|--------|
|                                                        |   |       |             | **As                of****June                30,****2007** |   | **As                of****December                31,****2006** |   |
|                                                        |   | ***Note*** |             | ***US$000***                                                |   | ***US$000***                                                    |   |
|                                                        |   |       |             |                                                        |   |                                                            |   |
| **Due                to directors**                         |   |       |             |                                                        |   |                                                            |   |
| Mr.                Wang Xin, Mr. Liu Yu and Mr. Wang Zhibin |   |       |             |                                                        |   | **—**                                                     |   |   | 330 |   |
| Mr.                Wang Xin and Mr. Liu Yu                  |   |       | *(i*)**          |                                                        |   | **324**                                                         |   |   | — |   |
|                                                        |   |       |             |                                                        |   |                                                            |   |   |   |   |
|                                                        |   |       |             |                                                        |   | **(Unaudited)**                                                 |   |   |   |   |
|                                                        |        |       |             |                                                             |        | **As              of****June                30,****2007**       |   |   | **As                of****December                31,****2006** |   |
|                                                        |        |       |  ***Note*** |                                                        |   | ***US$000***                                                    |   |   | ***US$000*** |   |
|                                                        |   |       |             |                                                        |   |                                                            |   |   |   |   |
| **Due                to a stockholder**                     |   |       |             |                                                        |   |                                                            |   |   |   |   |
| Mr.                Wang Zhibin                              |   |       | *(i*)**          |                                                        |   | **133**                                                         |   |   | — |   |
|                                                        |   |       |             |                                                        |   |                                                            |   |   |   |   |
|                                                        |   |       |             |                                                        |   |  **(Unaudited)**                                           |   |   |   |   |
|                                                        |        |            |             |                                                             |        |  **As              of****June                30,****2007** |   |   | **As                of****December                31,****2006** |   |
|                                                        |   |       |             |                                                        |   | ***US$000***                                                    |   |   | ***US$000*** |   |
|                                                        |   |       |             |                                                        |   |                                                            |   |   |   |   |
| **Bank                loans guaranteed by a director**      |   |       |             |                                                        |   |                                                            |   |   |   |   |
| Mr.                Liu Yu                                   |   |       |             |                                                        |   | **8,571**                                                       |   |   | 6,268 |   |

|  | (i) | The                  amounts are unsecured, interest-free and repayable on                  demand. |
|--|-----|-----------------------------------------------------------------------------------------------------|

----

| **Item                    2.** | **Management                    Discussion and Analysis of Financial Conditions and Results of                    Operations** |
|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------|

**OVERVIEW**

----

----

**Business      Review**

|                                                      |   |   |                                                                          |   |   |                                                                          |   |   |                 |   |
|-----------------------------------------------------------|--------|--------|-------------------------------------------------------------------------------|--------|--------|-------------------------------------------------------------------------------|--------|--------|----------------------|--------|
|                                                      |   |   | **Six                  months ended****June                  30, 2007**  |   |   | **Six                  months ended****June                  30, 2006**  |   |   | **Comparison**  |   |
|                                                      |   |   | **$000**                                                                 |   |   | **%                  of Revenue**                                        |   |   | **$000**        |   |   | **%                  of Revenue**  |   |   | **$000**  |   |   | **%**  |   |
| Revenue                                                   |   |   | 36,365                                                                        |   |   | 100.00                                                                        | %      |   | 25,376               |   |   | 100.00 | % |   | 10,989 |   |   | 43.30 | % |
| Cost                  of sales                            |   |   | 29,522                                                                        |   |   | 81.18                                                                         | %      |   | 21,163               |   |   | 83.40 | % |   | 8,359 |   |   | 39.50 | % |
| Sales                  & marketing expenses           |   |   | 247                                                                           |   |   | 0.68                                                                          | %      |   | 786                  |   |   | 3.10 | % |   | (539 | ) |   | (68.58 | %) |
| General                  & admin. expenses            |   |   | 579                                                                           |   |   | 1.59                                                                          | %      |   | 379                  |   |   | 1.49 | % |   | 200 |   |   | 52.77 | % |
| R&D                  expenses                         |   |   | 296                                                                           |   |   | 0.81                                                                          | %      |   | 147                  |   |   | 0.58 | % |   | 149 |   |   | 101.36 | % |
| Depreciation                                              |   |   | 87                                                                            |   |   | 0.24                                                                          | %      |   | 125                  |   |   | 0.49 | % |   | (38 | ) |   | (30.40 | %) |
| Allowance                  for obsolete inventories       |   |   | 592                                                                           |   |   | 1.63                                                                          | %      |   | —              |   |   | — |   |   | 592 |   |   | 100.00 | % |
| Allowance                  for trading deposit receivable |   |   | 1,409                                                                         |   |   | 3.87                                                                          | %      |   | 310                  |   |   | 1.22 | % |   | 1,099 |   |   | 354.52  | % |
| Interest                  expenses                        |   |   | 304                                                                           |   |   | 0.84                                                                          | %      |   | 29                   |   |   | 0.11 | % |   | 275 |   |   | 948.28 | % |
| Other                  net income                         |   |   | 7                                                                             |   |   | 0.02                                                                          | %      |   | 5                    |   |   | 0.02 | % |   | 2 |   |   | 40.00 | % |
| Pre-tax                  profit                           |   |   | 3,336                                                                         |   |   | 9.17                                                                          | %      |   | 2,442                |   |   | 9.62 | % |   | 894 |   |   | 36.61 | % |
| Income                  tax                               |   |   | 640                                                                           |   |   | 1.76                                                                          | %      |   | 160                  |   |   | 0.63 | % |   | 480 |   |   | 300.00 | % |
| Profit                  (Loss)                            |   |   | 2,696                                                                         |   |   | 7.41                                                                          | %      |   | 2,282                |   |   | 8.99 | % |   | 414 |   |   | 18.14 | % |
|                                                      |   |   |                                                                          |   |   |                                                                          |   |   |                 |   |   |   |   |   |   |   |   |   |   |

----

|                                                      |   |   |                                                                           |   |   |                                                                           |   |   |                 |   |   |                                    |   |   |           |   |   |           |   |
|-----------------------------------------------------------|--------|--------|--------------------------------------------------------------------------------|--------|--------|--------------------------------------------------------------------------------|--------|--------|----------------------|--------|--------|-----------------------------------------|--------|--------|----------------|--------|--------|----------------|--------|
|                                                      |   |   | **Three                  months ended****June                  30,2007**  |   |   | **Three                  months ended****June                  30,2006**  |   |   | **Comparison**  |   |
|                                                      |   |   | **$000**                                                                  |   |   | **%                  of Revenue**                                         |   |   | **$000**        |   |   | **%                  of Revenue**  |   |   | **$000**  |   |   | **%**     |   |
| Revenue                                                   |   |   | 16,356                                                                         |   |   | 100.00                                                                  | %      |   | 17,009               |   |   | 100.00                           | %      |   | (653           | )      |   | (3.84          | %)     |
| Cost                  of sales                            |   |   | 13,181                                                                         |   |   | 80.59                                                                          | %      |   | 14,670               |   |   | 86.25                                   | %      |   | (1,489         | )      |   | (10.15         | %)     |
| Sales                  & marketing expenses           |   |   | 134                                                                            |   |   | 0.82                                                                           | %      |   | 342                  |   |   | 2.01                                    | %      |   | (208           | )      |   | (60.81         | %)     |
| General                  & admin. expenses            |   |   | 420                                                                            |   |   | 2.57                                                                           | %      |   | 190                  |   |   | 1.12                                    | %      |   | 230            |   |   | 121.05         | %      |
| R&D                  expenses                         |   |   | 243                                                                            |   |   | 1.49                                                                           | %      |   | 66                   |   |   | 0.39                                    | %      |   | 177            |   |   | 268.18         | %      |
| Depreciation                                              |   |   | 35                                                                             |   |   | 0.21                                                                           | %      |   | 100                  |   |   | 0.59                                    | %      |   | (65            | )      |   | (65.00         | %)     |
| Allowance                  for obsolete inventories       |   |   | 272                                                                            |   |   | 1.66                                                                           | %      |   | --                   |   |   | --                               |   |   | 272            |   |   | 100.00  | %      |
| Allowance                  for trading deposit receivable |   |   | 194                                                                            |   |   | 1.19                                                                           | %      |   | 310                  |   |   | 1.82                                    | %      |   | (116           | )      |   | (37.42         | %)     |
| Interest                  expenses                        |   |   | 177                                                                            |   |   | 1.08                                                                           | %      |   | 29                   |   |   | 0.17                                    | %      |   | 148            |   |   | 510.34         | %      |
| Other                  net income                         |   |   | 5                                                                              |   |   | 0.03                                                                           | %      |   | 3                    |   |   | 0.02                                    | %      |   | 2              |   |   | 66.67          | %      |
| Pre-tax                  profit                           |   |   | 1,705                                                                          |   |   | 10.42                                                                          | %      |   | 1,305                |   |   | 7.67                                    | %      |   | 400            |   |   | 30.65          | %      |
| Income                  tax                               |   |   | 256                                                                            |   |   | 1.57                                                                           | %      |   | 160                  |   |   | 0.94                                    | %      |   | 96             |   |   | 60.00          | %      |
| Profit                  (Loss)                            |   |   | 1,449                                                                          |   |   | 8.86                                                                           | %      |   | 1,145                |   |   | 6.73                                    | %      |   | 304            |   |   | 26.55          | %      |
|                                                      |   |   |                                                                           |   |   |                                                                           |   |   |                 |   |   |                                    |   |   |           |   |   |           |   |

**CRITICAL      ACCOUNTING POLICIES AND MANAGEMENT ESTIMATES **

----

**RESULTS      OF OPERATION**

**Revenues**

**Products      Segment**

|       |   |   |                                                      |   |
|------------|--------|--------|-----------------------------------------------------------|--------|
|       |   |   | **Six                  months ended June 30, 2007**  |   |
|       |   |   | **$000**                                             |   |   | **%                  of Revenue**  |   |
|       |   |   |                                                      |   |   |   |   |
| **C8100**  |   |   | 8,801                                                     |   |   | 24.20 | % |
| **N808**   |   |   | 2,230                                                     |   |   | 6.13 | % |
| **X180**   |   |   | 3,914                                                     |   |   | 10.76 | % |
| **N3200**  |   |   | 629                                                       |   |   | 1.73 | % |
| **N3201**  |   |   | 672                                                       |   |   | 1.85 | % |
| **C8000**  |   |   | 6,735                                                     |   |   | 18.52 | % |
| **D8110**  |   |   | 6,287                                                     |   |   | 17.29 | % |
| **M5**     |   |   | 3,991                                                     |   |   | 10.97 | % |
| **M6**     |   |   | 2,908                                                     |   |   | 8.00 | % |
| **Others** |   |   | 198                                                       |   |   | 0.55 | % |
| **Total**  |   |   | 36,365                                                    |   |   | 100 | % |
|       |   |   |                                                      |   |   |   |   |

----

|       |   |   |                                                                    |   |
|------------|--------|--------|-------------------------------------------------------------------------|--------|
|       |   |   | **Three                months ended June                30,2007**  |   |
|       |   |   | **$000**                                                           |   |   | **%                of Revenue**  |   |
|       |   |   |                                                                    |   |   |   |   |
| **C8100**  |   |   | 8,801                                                                   |   |   | 53.81 | % |
| **N808**   |   |   | 2,230                                                                   |   |   | 13.63 | % |
| **X180**   |   |   | 3,914                                                                   |   |   | 23.93 | % |
| **N3200**  |   |   | 629                                                                     |   |   | 3.85 | % |
| **N3201**  |   |   | 672                                                                     |   |   | 4.11 | % |
| **Others** |   |   | 110                                                                     |   |   | 0.67 | % |
| **Total**  |   |   | 16,356                                                                  |   |   | 100.00 | % |
|       |   |   |                                                                    |   |   |   |   |

----

***Customer      Segments***

|                                                                |   |   |                                              |   |
|---------------------------------------------------------------------|--------|--------|---------------------------------------------------|--------|
|                                                                |   |   | **Six                months ended June 30, 2007** |   |
|                                                                |   |   | **$000**                                     |   |   | **%                of Revenue**  |   |
|                                                                |   |   |                                              |   |   |   |   |
| Beijing                Xingwang Shidai Tech & Trading Co., Ltd. |   |   | 32,451                                            |   |   | 89.24 | % |
| China                Electronic Appliance Corporation               |   |   | 3,914                                             |   |   | 10.76 | % |
| Total                                                               |   |   | 36,365                                            |   |   | 100.00 | % |
|                                                                |   |   |                                              |   |   |   |   |

|                                                                |   |   |                                                |   |   |                                  |   |
|---------------------------------------------------------------------|--------|--------|-----------------------------------------------------|--------|--------|---------------------------------------|--------|
|                                                                |   |   | **Three                months ended June 30, 2007** |   |
|                                                                |   |   | **$000**                                       |   |   | **%                of Revenue**  |   |
|                                                                |   |   |                                                |   |   |                                  |   |
| Beijing                Xingwang Shidai Tech & Trading Co., Ltd. |   |   | 12,442                                              |   |   | 76.07                                 | %      |
| China                Electronic Appliance Corporation               |   |   | 3,914                                               |   |   | 23.93                                 | %      |
| **TOTAL**                                                           |   |   | 16,356                                              |   |   | 100.00                                | %      |
|                                                                |   |   |                                                |   |   |                                  |   |

**Other      net income**

----

**Operating      expenses**

|                                                    |   |   |                                                                      |   |   |                                                                      |   |   |                 |   |
|---------------------------------------------------------|--------|--------|---------------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------------|--------|--------|----------------------|--------|
|                                                    |   |   | **Six                months ended****June                30, 2007**  |   |   | **Six                months ended****June                30, 2006**  |   |   | **Comparison**  |   |
|                                                    |   |   | **$000**                                                             |   |   | **%                of Revenue**                                      |   |   | **$000**        |   |   | **%                of Revenue**  |   |   | **$000**  |   |   | **%**  |   |
|                                                    |   |   |                                                                      |   |   |                                                                      |   |   |                 |   |   |   |   |   |   |   |   |   |   |
| Cost                of sales                            |   |   | 29,522                                                                    |   |   | 81.18                                                                     | %      |   | 21,163               |   |   | 83.40 | % |   | 8,359 |   |   | 39.50 | % |
| Sales                & marketing expenses           |   |   | 247                                                                       |   |   | 0.68                                                                      | %      |   | 786                  |   |   | 3.10 | % |   | (539 | ) |   | (68.57 | %) |
| General                & admin. expenses            |   |   | 579                                                                       |   |   | 1.59                                                                      | %      |   | 379                  |   |   | 1.49 | % |   | 200 |   |   | 52.77 | % |
| R&D                expenses                         |   |   | 296                                                                       |   |   | 0.81                                                                      | %      |   | 147                  |   |   | 0.58 | % |   | 149 |   |   | 101.36 | % |
| Depreciation                                            |   |   | 87                                                                        |   |   | 0.24                                                                      | %      |   | 125                  |   |   | 0.49 | % |   | (38 | ) |   | (30.40 | %) |
| Allowance                for trading deposit receivable |   |   | 1,409                                                                     |   |   | 3.87                                                                      | %      |   | 310                  |   |   | 1.22 | % |   | 1,099 |   |   | 354.52  | % |
| Allowance                for obsolete inventories       |   |   | 592                                                                       |   |   | 1.63                                                                      | %      |   | —       |   |   | — |   |   | 320 |   |   | 100.00  | % |
| Total                                                   |   |   | 32,732                                                                    |   |   | 90.01                                                                     | %      |   | 22,910               |   |   | 90.28 | % |   | 9,822 |   |   | 42.87 | % |
|                                                    |   |   |                                                                      |   |   |                                                                      |   |   |                 |   |   |   |   |   |   |   |   |   |   |

|                                                    |   |   |                                                                        |   |   |                                                                        |   |   |                 |   |   |                                  |   |   |           |   |   |           |   |
|---------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------|--------|--------|----------------------|--------|--------|---------------------------------------|--------|--------|----------------|--------|--------|----------------|--------|
|                                                    |   |   | **Three                months ended****June                30, 2007**  |   |   | **Three                months ended****June                30, 2006**  |   |   | **Comparison**  |   |
|                                                    |   |   | **$000**                                                               |   |   | **%                of Revenue**                                        |   |   | **$000**        |   |   | **%                of Revenue**  |   |   | **$000**  |   |   | **%**     |   |
|                                                    |   |   |                                                                        |   |   |                                                                        |   |   |                 |   |   |                                  |   |   |           |   |   |           |   |
| Cost                of sales                            |   |   | 13,181                                                                      |   |   | 80.59                                                                       | %      |   | 14,670               |   |   | 86.25                                 | %      |   | (1,489         | )      |   | (10.15         | %)     |
| Sales                & marketing expenses           |   |   | 134                                                                         |   |   | 0.82                                                                        | %      |   | 342                  |   |   | 2..01                                 | %      |   | (208           | )      |   | (60.82         | %)     |
| General                & admin. expenses            |   |   | 420                                                                         |   |   | 2.57                                                                        | %      |   | 190                  |   |   | 1.12                                  | %      |   | 230            |   |   | 121.05         | %      |
| R&D                expenses                         |   |   | 243                                                                         |   |   | 1.49                                                                        | %      |   | 66                   |   |   | 0.39                                  | %      |   | 177            |   |   | 268.18         | %      |
| Depreciation                                            |   |   | 35                                                                          |   |   | 0.21                                                                        | %      |   | 100                  |   |   | 0.59                                  | %      |   | (65            | )      |   | (65.00         | %)     |
| Allowance                for trading deposit receivable |   |   | 194                                                                         |   |   | 1.19                                                                        | %      |   | 310                  |   |   | 1.82                                  | %      |   | (116           | )      |   | (37.42  | %)     |
| Allowance                for obsolete inventories       |   |   | 272                                                                         |   |   | 1.66                                                                        | %      |   | —       |   |   | —                        |   |   | 272            |   |   | 100.00  | %      |
| Total                                                   |   |   | 14,479                                                                      |   |   | 88.52                                                                       | %      |   | 15,678               |   |   | 92.17                                 |   |   | (1,199         | )      |   | (7.65          | %)     |
|                                                    |   |   |                                                                        |   |   |                                                                        |   |   |                 |   |   |                                  |   |   |           |   |   |           |   |

**Cost      of sales**

----

**Sales      and marketing expenses**

**R&D      expenses**

**General      and administrative expenses**

----

**Allowance      for obsolete inventories**

**Gross      Profit and Gross Profit Margin**

|   | 1. | the                company’s increased efforts to develop and distribute the more highly                profitable products |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | the                fact that more than 38% of the gross profit margin was yielded by                specialized application mobile terminal X180. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------|

**Net      income**

|  | 1. | In                2007, we paid the income tax at the ratio of 12% of the aggregated                profit. |
|--|----|-------------------------------------------------------------------------------------------------------------|

|  | 2. | In                2007, the allowance for obsolete inventories and doubtful accounts                were                amounted to $2,001,000. |
|--|----|-------------------------------------------------------------------------------------------------------------------------------------------------|

**LIQUIDITY      AND SOURCE OF CAPITAL**

----

**CASH      FLOWS**

----

**CONTINGENT      LIABILITIES **

**OFF      BALANCE SHEET ARRANGEMENTS**

**CONTRACTUAL      COMMITMENTS**

|                                                                                                                   |   | **Payments due by period** |    |
|------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|---------|
| **Contractual Obligations**                                                                                       |   | **Total**                                 |    | **Less than****1 year** |   | **1-3 years** |   | **3-5 years** |   | **More than****5 years** |   |
|                                                                                                                   |   | $000                                      |    | $000 |   | $000 |   | $000 |   | $000 |   |
|                                                                                                                   |   |                                      |    |   |   |   |   |   |   |   |   |
| Long-term                Debt Obligations                                                                              |   |                                      | 8,571   |   |   | 8,571 |   |   | — |   |   | — |   |   | — |   |
| Capital                Lease Obligations                                                                               |   |                                      | — |   |   | — |   |   | — |   |   | — |   |   | — |   |
| Operating                Lease Obligations                                                                             |   |                                      | 44      |   |   | 44 |   |   | — |   |   | — |   |   | — |   |
| Purchase                Obligations                                                                                    |   |                                      | 3,136   |   |   | 3,136 |   |   | — |   |   | — |   |   | — |   |
| Other                long-term liabilities reflected on the registrant’s balance sheet under                GAAP |   |                                      | — |   |   | — |   |   | — |   |   | — |   |   | — |   |
|                                                                                                                   |   |                                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                                                                                                  |   |                                      | 11,751  |   |   | 11,751 |   |   | — |   |   | — |   |   | — |   |

| **Item                  3.** | **Quantitative                  and Qualitative Disclosures About Market                  Risk.** |
|------------------------------|---------------------------------------------------------------------------------------------------|

Market        risk is the sensitivity of income to changes in interest rates, foreign        exchanges, commodity prices, equity prices and other market-driven rates        or        prices. The Company, in the normal course of doing business, is exposed to        market risk through changes in interest rates with respect to bank loans.        Bank        loans at June 30, 2007 were $8,571,000. The interest rate for six months        ended        June 30, 2007 was charged at 7.344% to 7.956% per annum.

----

** **
| **Item 4T.** | **Controls                  and Procedures.** |
|-------------------|-----------------------------------------------|

----

**PART      II - OTHER INFORMATION**

| **Item 1.** | **Legal                  Proceedings.** |
|------------------|-----------------------------------------|

| **Item                  1A.** | **Risk                  Factors.** |
|-------------------------------|------------------------------------|

 

| **Item                  2.** | **Unregistered                  Sales of Equity Securities and Use of                  Proceeds.** |
|------------------------------|----------------------------------------------------------------------------------------------------|

| **Item                    3.** | **Defaults                    Upon Senior                    Securities.** |
|--------------------------------|----------------------------------------------------------------------------|

None.

| **Item                    4.** | **Submission                    of Matters to a Vote of Security                    Holders.** |
|--------------------------------|------------------------------------------------------------------------------------------------|

| **Item                    5.** | **Other                    Information.** |
|--------------------------------|-------------------------------------------|

None.

----

| **Item                        6.** | **Exhibits.** |
|------------------------------------|---------------|

| **Exhibit****Number** |   | **Exhibit                  Description**                                                                                                            |
|-----------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------|
|                  |   |                                                                                                                                                |
| 31.1                  |   | Certification                  of Principal Executive Officer under Section 302 of the Sarbanes-Oxley                  Act                  of 2002 |
|                  |   |                                                                                                                                                |
| 31.2                  |   | Certification                  of Principal Accounting Officer under Section 302 of the                  Sarbanes-Oxley Act of 2002            |
|                  |   |                                                                                                                                                |
| 32.1                  |   | Certification                  of Principal Executive Officer under Section 906 of the Sarbanes-Oxley                  Act                  of 2002 |
|                  |   |                                                                                                                                                |
| 32.2                  |   | Certification                  of Principal Accounting Officer under Section 906 of the                  Sarbanes-Oxley Act of 2002            |

----

**SIGNATURES**

|                                      |                                             |                                   |
|-------------------------------------------|--------------------------------------------------|----------------------------------------|
|                                      | **ORSUS              XELENT TECHNOLOGIES, INC.** |
|                                 |                                        |                              |
| DATED:              August 14, 2007  | By:                                    | /s/              Wang              Xin |
|                                      | Wang              Xin                            |
|                                      | Chief              Executive Officer             |

----

**INDEX      TO EXHIBITS**

| **Exhibit****Number** |   | **Exhibit                Description**                                                                                                        |
|-----------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|
|                  |   |                                                                                                                                          |
| 31.1                  |   | Certification                of Principal Executive Officer under Section 302 of the Sarbanes-Oxley                Act                of 2002 |
|                  |   |                                                                                                                                          |
| 31.2                  |   | Certification                of Principal Financial Officer under Section 302 of the Sarbanes-Oxley                Act                of 2002 |
|                  |   |                                                                                                                                          |
| 32.1                  |   | Certification                of Principal Executive Officer under Section 906 of the Sarbanes-Oxley                Act                of 2002 |
|                  |   |                                                                                                                                          |
| 32.2                  |   | Certification                of Principal Financial Officer under Section 906 of the Sarbanes-Oxley                Act                of 2002 |

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