U.S.
SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM 10-QSB QUARTERLY REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2007 Commission file number: 000-26971 TRIMOL GROUP, INC.(Exact Name of Small Business Issuer
as it
 appears in its charter)  DELAWARE(State or
other Jurisdiction of Incorporation or Organization)13-3859706(I.R.S.
Employer Identification No.)1285 Avenue of the Americas, 35th
Floor
New York, New York 10019(Address
of principal executive offices)212. 554.4394(Issuers
Telephone Number) Check whether the issuer (1) filed all
reports required to be filed by Section 13 or 15(d) of the Exchange Act during
the past 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 checkmark whether the Registrant
is a shell company (as defined in Rule 12b-2 of the Exchange Act
Yes
o     No
x As of June 30, 2007, there
were 100,472,328 issued and outstanding shares of the registrants common
stock. Transitional Small Business
Disclosure Format (Check one):o Yes
     x No Accelerated filer as defined
in Rule 12b-2 of the Securities Act of 1934: o
Yes     x
No    TRIMOL GROUP, INC.

FORM 10-QSB QUARTERLY REPORT

For the period ended June 30, 2007

TABLE OF CONTENTS

PART I - FINANCIAL
INFORMATIONITEM 1.
FINANCIAL
 STATEMENTS
3INDEPENDENT
 ACCOUNTANTS REVIEW REPORT
4CONSOLIDATED
 BALANCE SHEET
5CONSOLIDATED
 STATEMENT OF OPERATIONS
6CONSOLIDATED
 STATEMENT OF CASH FLOWS
7NOTES TO THE
 CONSOLIDATED FINANCIAL STATEMENTS
8ITEM 2.
MANAGEMENTS
 DISCUSSION AND ANALYSIS 
 OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
14ITEM 3.
CONTROLS AND
 PROCEDURES
18PART II - OTHER
 INFORMATIONITEM 1.
LEGAL
 PROCEEDINGS
18ITEM 2.
CHANGES IN
 SECURITIES
19ITEM 3.
DEFAULTS
 UPON SENIOR SECURITIES
19ITEM 4.
SUBMISSION
 OF MATTERS TO A VOTE OF SECURITY HOLDERS
19ITEM 5.
OTHER
 INFORMATION
19ITEM 6.
EXHIBITS
 AND REPORTS ON FORM 8-K
20SIGNATURES
212

PART I - FINANCIAL INFORMATION

ITEM 1.
FINANCIAL STATEMENTSCONSOLIDATED
 FINANCIAL STATEMENTSAS OF JUNE 30, 20073

INDEPENDENT ACCOUNTANTS REVIEW REPORT

To the Board of Directors
and Shareholders of
Trimol Group, Inc.

We have reviewed the
accompanying consolidated balance sheet of Trimol Group, Inc. (the Company)
as of June 30, 2007 and the related consolidated statements of operations and
cash flows for the six and three month periods ended June 30, 2007 and 2006.
These financial statements are the responsibility of the Companys management.

We conducted our review in
accordance with standards established by the American Institute of Certified
Public Accountants. A review of interim financial information consists
principally of applying analytical procedures to financial data and making
inquiries of persons responsible for financial and accounting matters. It is
substantially less in scope than an audit conducted in accordance with
generally accepted auditing standards, the objective of which is to express an
opinion regarding the financial statements taken as a whole. Accordingly, we do
not express such an opinion.

The accompanying financial
statements have been prepared assuming that the Company will continue as a
going concern. As discussed in Note 2 to the financial statements, the
Companys only customer has notified the Company that it does not intend to
renew its contract which expired April 29, 2006. In addition, as shown on the
accompanying balance sheet, the Companys liabilities exceeded its assets by
$1,932,000. These circumstances raise substantial doubt about its ability to
continue as a going concern. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.

Based on our
review, we are not aware of any material modifications that should be made to
the consolidated financial statements referred to above for them to be in
conformity with generally accepted accounting principles.

We have
previously audited, in accordance with the standards of the Public Company
Accounting Oversight Board (United States), the consolidated balance sheet of
Trimol Group, Inc. and subsidiary as of December 31, 2006, and the related
consolidated statements of operations, stockholders equity, and cash flows for
the year then ended (not presented herein); and in our report dated April 4,
2007, we expressed a qualified opinion, as to the ability of the Company to
continue as a going concern, on those consolidated financial statements. In our
opinion, the information set forth in the accompanying consolidated balance
sheet as of December 31, 2006, is fairly stated, in all material respects, in
relation to the consolidated balance sheet from which it has been derived.

PARITZ & COMPANY, P.A.Hackensack, New JerseyDate: August 8, 20074

TRIMOL GROUP, INC.CONSOLIDATED BALANCE SHEETJune
 30, 2007
 (Unaudited)

December
 31, 2006ASSETSCurrent assets:Cash


$
5,000



$
13,000TOTAL CURRENT
ASSETS



5,000




13,000Property and equipment,
 net



45,000




61,000TOTAL
ASSETS


$
50,000



$
74,000LIABILITIESCurrent liabilities:Due to related parties


$
1,504,000



$
1,023,000Accrued expenses



478,000




459,000TOTAL CURRENT
LIABILITIES



1,982,000




1,482,000SHAREHOLDERS EQUITY
 (DEFICIENCY)



(1,932,000
)



(1,408,000
)TOTAL LIABILITIES AND SHAREHOLDERS
 EQUITY


$
50,000



$
74,000The accompanying
 notes are an integral part of the financial statements5

TRIMOL GROUP, INC.CONSOLIDATED STATEMENT OF OPERATIONS
(UNAUDITED)SIX
 MONTHS ENDED

THREE
 MONTHS ENDEDJune
 30, 2007

June
 30, 2006

June 30, 2007

June
 30, 2006REVENUES (See Note 3)

$


$
2,211,000

$


$
511,000OPERATING
 EXPENSES:Cost of
 revenues





593,000





95,000Marketing
 and promotion





1,003,000





434,000Other
 operating expenses


524,000


891,000


284,000


413,000TOTAL
 OPERATING EXPENSES


524,000


2,487,000


284,000


942,000NET INCOME
 (LOSS)

$
(524,000
)
$
(276,000
)
$
(284,000
)
$
(431,000
)Net income
 (loss) per share (basic and diluted)


(.005
)

(.003
)

(.003
)

(.004
)WEIGHTED
 AVERGE NUMBER OF SHARES
 OUTSTANDING


100,472,328


100,472,328


100,472,328


100,472,328The accompanying notes are an
 integral part of the financial statements6

TRIMOL GROUP, INC.CONSOLIDATED STATEMENT OF CASH FLOWS
(UNAUDITED)Six Months Ended June 30,2007

2006CASH FLOWS
 FROM OPERATING ACTIVITIES:NET INCOME
 (LOSS)

$
(524,000
)
$
(276,000
)ADJUSTMENTS
 TO RECONCILE NET INCOME TO NET CASH
 PROVIDED BY (USED IN) OPERATING
 ACTIVITIES:Depreciation
 of property and equipment


16,000


17,000CHANGES IN
 ASSETS AND LIABILITIES:Accounts
 receivable





(925,000
)Accounts
 payable





(267,000
)Accrued
 expenses


19,000


1,373,000NET CASH
 USED IN OPERATING ACTIVITIES


(489,000
)

(78,000
)CASH FLOW
 FROM FINANCING ACTIVITIES:Proceeds of
 loans from related parties


481,000


66,000NET CASH
 PROVIDED BY FINANCING ACTIVITIES


481,000


66,000DECREASE IN
 CASH


(8,000
)

(12,000
)CASH 
 BEGINNING OF PERIOD


13,000


14,000CASH  END
 OF PERIOD

$
5,000

$
2,000The accompanying
 notes are an integral part of the financial statements7

TRIMOL GROUP, INC.

NOTES TO THE CONSOLIDATED FINANCIAL
STATEMENTS

NOTE 1 - BASIS OF PRESENTATION

The
unaudited consolidated financial statements of Trimol Group, Inc. (the
Company) as of June 30, 2007 and for the six and three month periods ended
June 30, 2007 and 2006 included herein have been prepared on the same basis as
those of the Annual Report on Form 10-KSB for the year ended December 31, 2006.
In the opinion of management, all adjustments (consisting only of those which
are normal and recurring) necessary for a fair presentation have been included.

The
results of operations for interim periods are not necessarily indicative of the
results to be expected for a full fiscal year.

Certain
financial information that is normally included in annual financial statements
prepared in accordance with generally accepted accounting principles, but is
not required for interim reporting purposes, has been condensed or omitted.

The
accompanying unaudited consolidated financial statements should be read in
conjunction with the audited consolidated financial statements and related
notes included in the Companys Annual Report on Form 10-KSB for the year ended
December 31, 2006.

NOTE 2 - OPERATIONS

The
Company owns all of the outstanding shares of Intercomsoft Limited
(Intercomsoft) a company engaged in the operation of a computerized photo
identification and database management system utilized in the production of a
variety of secure essential government identification documents such as
passports, drivers licenses, national identification documents and other such
forms of essential personal identification.

Intercomsofts
only customer is the Government of the Republic of Moldova, pursuant to a
renewable Contract on Leasing Equipment and Licensing Technology (the Supply Agreement) awarded to it in April
1996 by the Ministry of Economics, Republic of Moldova, to provide a National
Register of Population and a National Passport System. Under the terms of the
Supply Agreement, Intercomsoft supplies all of the equipment, technology,
software, materials and consumables utilized by the Government for the
production of all national passports, drivers licenses, vehicle permits,
identification cards and other government authorized identification documents
in the Republic of Moldova.

On or about February 11, 2006, the Company received
a notice from the Government of the Republic of Moldova wherein it advised the
Company that it did not intend to renew the Supply Agreement which, unless
renewed, expired by its terms on April 29, 2006. The Company does

8

not believe that such non-renewal notice was sent
timely under the applicable provisions of the Supply Agreement and has
contested such non-renewal notice.

On June 27, 2006, the Company and Intercomsoft
commenced an action in the United States District Court for the Southern
District of New York against the Ministry of Economics of the Republic of
Moldova and the Government of the Republic of Moldova seeking damages of
approximately $41,000,000 for breach of contract and an injunction prohibiting
Moldova from producing further essential government documents in accordance with the terms of the
Supply Agreement. As a consequence of discussions with counsel to the
defendants in this action, the action was withdrawn in August 2006, without
prejudice.

On
September 20, 2006, Intercomsoft filed a Demand for Arbitration (the Demand)
with the International Chamber of Commerce, International Court of Arbitration,
in Geneva, Switzerland. The Demand repeats and incorporates the claims that
were set forth in the Complaint in the withdrawn prior action noted above.

The Action has not progressed beyond procedural
stages. The Republic of Moldova and other respondents have interposed a
counterclaim against Intercomsoft in amounts totaling $30 million. The
Counterclaims contain allegations of fraud and misrepresentation occurring
during the performance of the Supply Agreement. The Company denies any
wrongdoing, vigorously contests the counterclaims and has replied with
opposition to them in the Arbitration.

Inasmuch as the Companys only revenues are derived
from Intercomsofts activities under the Supply Agreement, if the Supply
Agreement is not renewed or extended, the Company will have no source of
revenues as a consequence of the expiration of such Agreement. Such event will
have a material adverse effect on Intercomsoft and the Company.

Subsequent to the expiration and non-renewal of the
Supply Agreement, which the Company is contesting, the Company has not
generated any revenue.

There can be no assurance as to the outcome of such
arbitration proceeding.

NOTE 3 - RISKS AND UNCERTAINTIES

The following risk factors relating to the Company
and its business should be carefully considered:

The Companys subsidiary operates in the Republic
of Moldova.

The Companys wholly owned subsidiary, Intercomsoft
Limited, operates in the Republic of Moldova. The Republic of Moldova is a
former member of the Soviet Union and has historically had an uncertain
economic and political climate. This may have a material adverse impact on the
Company and Intercomsoft.

The Company has no current source of revenue.

The Companys sole revenue source for the years
ended December 31, 2006 and 2005 was from Intercomsoft whose only customer is
the Republic of Moldovas Ministry of Economics to which it supplies its goods
and services pursuant to the Supply Agreement between the

9

Government of Moldova and Intercomsoft.

On or about February 11, 2006, the Company received
a notice from the Government of the Republic of Moldova advising the Company
that it did not intend to renew the Supply Agreement which, unless renewed,
expired by its terms on April 29, 2006. The Company believes that such
non-renewal notice may not have been sent timely under the applicable
provisions of the Supply Agreement. However, inasmuch as the Companys only
revenues are derived from Intercomsofts activities under the Supply Agreement,
as of April 29, 2006, the Company has no current source of revenue as a
consequence of the non-renewal of such Agreement. Although the Company has
contested Moldovas notice of non-renewal of the Supply Agreement, there can be
no assurance as to the outcome of such dispute. If the Government of the
Republic of Moldova does not recognize the renewal of the Supply Agreement,
such event will have a material adverse effect on Intercomsoft and the Company.

The Company has commenced a legal action against
the Government of Moldova.

On June 27, 2006, the Company and Intercomsoft
commenced an action in the United States District Court for the Southern
District of New York against the Ministry of Economics of the Republic of
Moldova and the Government of the Republic of Moldova seeking damages of
approximately $41,000,000 for breach of contract and an injunction prohibiting
Moldova from producing further essential government documents in accordance
with the terms of the Supply Agreement. Additionally, the Company has contested
Moldovas notice of non-renewal of the Supply Agreement. The action was
withdrawn in August 2006, without prejudice. On September 20, 2006, Intercomsoft filed a
Demand for Arbitration with the International Chamber of Commerce,
International Court of Arbitration, in Geneva, Switzerland. The Demand repeats
and incorporates the claims that were set forth in the Complaint in the
withdrawn prior action noted above.

The action has not yet progressed beyond the
procedural stages. The Republic of Moldova and the other respondents have
interposed counterclaims against the Company and Intercomsoft in amounts
totaling $30 million. The counterclaims contain allegations of fraud and
misrepresentation claimed to have occurred during the performance of the Supply
Agreement. The Company and Intercomsoft deny any wrongdoing, are vigorously
contesting the counterclaims and have replied with opposition to such
counterclaims in the arbitration.

Among the Companys claims against Moldova is a
claim for non-payment for all of the essential government documents produced
under the Supply Agreement during the four month period commencing January 2006
and ending in April 2006. Based, in part, upon records issued by Moldova, the
Company believes the uncollected amount due for this period for services
rendered, together with contractually agreed upon interest for late payments,
is in excess of $2,500,000, which amount is not included in the accompanying
financial statement. Such amount is the subject of a legal action as more
detailed in Note 2. The Company is still pursuing such amount and believes it
to be a legally valid receivable.

There can be no assurance as to the outcome of such
arbitration proceeding.

The Company has terminated its agreement with
Supercom Limited.

Pursuant
to a Sales Agreement between Intercomsoft and Supercom Limited (Supercom)
dated August 25, 1995, as amended, Supercom supplied the equipment, software,
technology

10

and
consumables utilized by Intercomsoft for the production of computerized
documents under the Supply Agreement. Pursuant to this agreement, Intercomsoft
is provided with the guidance and support required for the installation and
operation of the equipment, as well as the materials required for its
maintenance.

On March 24, 2005, Intercomsoft and Supercom
entered into a Termination Agreement, terminating the Sales Agreement.
Notwithstanding, pursuant to the terms of the Termination Agreement, Supercom,
in consideration of certain payments to be made to it, agreed to continue to
supply Moldova with such equipment, consumables, software and technology during
the remaining term of the Supply Agreement, pursuant to the requirements of the
Supply Agreement. Supercom agreed not to take any action, directly or
indirectly, to interfere with Intercomsofts contractual rights with Moldova or
to, in any way, cause Moldova to terminate or not renew the Supply Agreement
and agreed to pay to Intercomsoft certain amounts specified in the Termination
Agreement as liquidated damages in the event of any breach or default by
Supercom thereunder. Except and as to the extent provided under the Termination
Agreement, Intercomsoft has no other rights to Supercoms proprietary
technology as referred to above.

The Company is not pursuing development of its
aluminum-air fuel cell technology.

Through a joint venture with Aluminum-Power, Inc.
(API), the Companys majority shareholder, the Company pursued research and
development of its aluminum-air fuel cell technology it acquired in the first
quarter of 2001. Such research and development was suspended in the second
quarter of 2003. The Company does not intend to pursue the development of such
technology in the future.

The Company has no current business activities that
generate revenue.

Although the Company is currently exploring
opportunities, it is not currently engaged in any business activities that
generate revenue.

NOTE 4 - RELATED PARTY TRANSACTIONS AND BALANCES

Mr. Boris Birshtein serves as the Companys
Chairman of the Board of Directors (the Chairman) on a month-to-month basis.
During the six months ended June 30, 2007, the Company accrued $138,000 in
compensation due to him and accrued $11,000 in expenses related to his
performance as the Chairman.

The Company has engaged Royal HTM Group, Inc., a
Canadian company beneficially owned and controlled by the Chairman, to render
certain business development services to the Company. During the six months
ended June 30, 2007 the Company accrued $60,000 to Royal HTM Group for such
services.

During the six months ended June 30, 2007 Royal HTM
Group lent the Company $272,000 to cover operating expenses for the period then
ended.

11

Payables to related parties consist of the
following:

Amount due to the Chairman and
 a company owned and controlled by such individual.

$
1,112,000392,000Accrued compensation due to the Chairman.

$
1,504,000These
amounts are non-interest bearing and due on demand.

NOTE 5 - STOCK COMPENSATION PLANS

During
the three and six months ended June 30, 2007, the Company did not issue any
options to purchase its common stock. As of June 30, 2007, the total options
outstanding were 8,120,000, of which 3,870,000 were issued pursuant to the 2001
Omnibus Plan, as amended.

NOTE 6 - SEGMENT INFORMATION

The
Companys operations are classified into two reportable segments consisting of
Intercomsoft, which produces secure essential government identification
documents and general and administrative expenses incurred for corporate
purposes.

SIX MONTHS ENDED JUNE 30, 2007

Intercomsoft

Corporate and
 Administrative

TotalNet sales


$




$



$
Operating
 expenses



16,000




508,000



524,000Net loss


$
(16,000
)


$
(508,000
)

$
(524,000
)SIX MONTHS ENDED JUNE 30, 2006

Intercomsoft

Corporate and
 Administrative

TotalNet sales


$
2,211,000



$



$
2,211,000Operating
 expenses



1,650,000




837,000



2,487,000Net income
 (loss)


$
561,000



$
(837,000
)

$
(276,000
)12

THREE MONTHS ENDED JUNE 30, 2007

Intercomsoft

Corporate and
 Administrative

TotalNet sales


$




$



$
Operating
 expenses



8,000




276,000



284,000Net loss


$
8,000



$
(276,000
)

$
(284,000
)THREE MONTHS ENDED JUNE 30, 2006

Intercomsoft

Corporate and
 Administrative

TotalNet sales


$
511,000



$



$
511,000Operating
 expenses



554,000




388,000



942,000Net loss


$
(43,000
)


$
(388,000
)

$
(431,000
)13

ITEM 2.
MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
 RESULTS OF OPERATIONThe following
managements discussion and analysis of financial condition and results of
operation should be read in conjunction with our unaudited consolidated
financial statements and notes thereto contained elsewhere in this report.

PLAN OF OPERATION

General

Intercomsoft,
Ltd. (Intercomsoft) is a wholly owned subsidiary acquired by us in the second
quarter of 1998. A technology-intensive company, Intercomsoft was established
to operate a computerized photo identification and database management system
utilized in the production of secure essential government identification
documents such as passports, drivers licenses, national identification documents
and other such forms of essential personal identification.

Although
it is interested in developing other opportunities, Intercomsofts only
customer since 1996 has been the Government of the Republic of Moldova,
pursuant to a ten (10) year renewable Contract on Leasing Equipment and
Licensing Technology (the Supply Agreement).

On
or about February 11, 2006, we received notice from the Government of the
Republic of Moldova that it did not intend to renew the Supply Agreement which,
unless renewed, expired by its terms on April 29, 2006. We believe that such
notice of non-renewal may not have been sent timely under the applicable
provisions of the Supply Agreement and are currently contesting the claimed
non-renewal of such Agreement.

On
June 27, 2006, together with Intercomsoft, we commenced an action in the United
States District Court for the Southern District of New York against the
Ministry of Economics of the Republic of Moldova and the Government of the
Republic of Moldova seeking damages of approximately $41,000,000 for breach of
contract, among other claims. Such amount includes approximately $2,500,000,
plus interest, that we believe is due to us for the four-month period
commencing January 2006 and ending in April 2006. The action was withdrawn in
August 2006, without prejudice, and on September 20, 2006 a similar action was
filed before an arbitration tribunal in Switzerland.

The
action has not yet progressed beyond procedural stages. The Republic of Moldova
and the other respondents have interposed counterclaims against us and
Intercomsoft in amounts totaling $30,000,000. The counterclaims contain
allegations of fraud and misrepresentation which the respondents claim occurred
during the performance of the Supply Agreement. Together with Intercomsoft, we
have denied any wrongdoing, are vigorously contesting the counterclaims and
have replied with opposition to such counterclaims in the arbitration.

14

In
April 2007, the Republic of Moldova and other respondents commenced an arbitral
proceeding in the Republic of Moldova that alleges similar claims as in the
counterclaims noted above. Together with Intercomsoft, we plan to contest the
viability of this proceeding.

There
can be no assurance as to the outcome of any such proceedings.

However,
inasmuch as our only current source of revenue was derived from Intercomsofts
activities under the Supply Agreement, if the Supply Agreement is not renewed
or extended, we will have no source of revenues as a consequence of the
expiration and non-renewal of such Agreement. We have had no revenues since the
expiration of the Supply Agreement, which has had a material adverse effect on
Intercomsoft as well as on us.

Currently,
other than activities in connection with the Supply Agreement, we are not
engaged in any other business operations.

RESULTS OF OPERATIONS

General

During
the three and six month period ended June 30, 2007, our operations consisted
solely of administrative activities and those related to pursuing the breach of
contract claims against the Republic of Moldova as more fully noted above. The
operations of Intercomsoft were inactive during this period.

Comparison of Three Month Period Ended June
30, 2007 to June 30, 2006

During
the three months ended June 30, 2007, we generated no revenues as compared to
$511,000 in the same period in 2006, all of which resulted from Intercomsofts
production of government documents in the Republic of Moldova. The lack of
revenue in the comparative period in 2007 was the result of the contested
non-renewal of the Supply Agreement on April 29, 2006, as previously noted.

During
the three months ended June 30, 2007, there were no costs associated with generating
revenues, as compared to $95,000, or 19% of revenues, for the same period in
2006.

General
and administrative expenses for the three months ended June 30, 2007, were
approximately $284,000, which consisted of $8,000 of Intercomsoft expenses
consisting of machinery and equipment depreciation, and $276,000 of which were
general corporate and administrative expenses. For the same period in 2006,
general and administrative expenses aggregated approximately $413,000, which
consisted of $25,000 of Intercomsoft expenses and $388,000 of general corporate
and administrative expenses. General corporate and administrative expenses
decreased significantly in the three months ended June 30, 2007 compared to the
same period in 2006 due to corporate overhead cutbacks resulting from the
contested non-renewal of

15

the Supply
Agreement on April 29, 2006, as previously noted.

There
were no public relations, marketing and advertising expenses for the three
months ended June 30, 2007, compared to $434,000 in the same period in 2006.
All of such expenses in the comparative period related to efforts to expand the
use of Intercomsofts services. All marketing efforts were suspended in
mid-2006 due to the unavailability of funds resulting from the expiration and
contested non-renewal of the Supply Agreement, as noted above.

We
had a net loss from operations of approximately $284,000 for the three month
period ended June 30, 2007, as compared to a net loss of approximately $431,000
for the same period in 2006, which resulted from all of the reasons set forth
above.

Comparison of Six Month Period Ended June 30,
2007 to June 30, 2006

During
the six months ended June 30, 2007, we generated no revenues as compared to
$2,211,000 in the same period in 2006, all of which resulted from
Intercomsofts production of government documents in the Republic of Moldova.
The lack of revenue in the comparative period in 2007 was the result of the
contested non-renewal of the Supply Agreement on April 29, 2006, as previously
noted.

During
the six months ended June 30, 2007, there were no costs associated with
generating revenues, as compared to $593,000, or 27% of revenues, for the same
period in 2006.

General
and administrative expenses for the six months ended June 30, 2007, were
approximately $524,000, which consisted of $16,000 of Intercomsoft expenses
consisting of machinery and equipment depreciation, and $508,000of which were
general corporate and administrative expenses. For the same period in 2006,
general and administrative expenses aggregated approximately $891,000, which
consisted of $54,000 of Intercomsoft expenses and $837,000 of general corporate
and administrative expenses. General corporate and administrative expenses decreased
significantly in the six months ended June 30, 2007 compared to the same period
in 2006 due to corporate overhead cutbacks resulting from the contested
non-renewal of the Supply Agreement on April 29, 2006, as previously noted.

There
were no public relations, marketing and advertising expenses for the six months
ended June 30, 2007, compared to $1,003,000 in the same period in 2006. All of
such expenses in the comparative period related to efforts to expand the use of
Intercomsofts services. All marketing efforts were suspended in mid-2006 due
to the unavailability of funds resulting from the expiration and contested
non-renewal of the Supply Agreement, as noted above.

We
had a net loss from operations of approximately $524,000 for the six month
period ended June 30, 2007, as compared to a net loss of approximately $276,000
for the same period in 2006, which resulted from all of the reasons set forth
above.

16

Liquidity & Capital Resources

Intercomsofts
Supply Agreement, if not renewed pursuant to the terms thereof, expired by its
terms in April 2006. As a consequence of what we believe was an untimely notice
of non-renewal of the Supply Agreement, Moldova discontinued payment to us for
amounts due under the Supply Agreement and our sole source of revenue ended.
Although we are vigorously contesting the non-renewal of the Supply Agreement,
there can be no assurances as to the outcome such dispute. If the Supply
Agreement is not renewed, we will need to pursue future business opportunities
in order to sustain continued operations.

CAUTIONARY STATEMENT
RELATING TO FORWARD LOOKING STATEMENTS

This
Quarterly Report on Form 10-QSB contains forward looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act, as amended, which are intended to be
covered by the safe harbors created thereby. Investors are cautioned that all
forward-looking statements involve risk and uncertainty. Although we believe
that the assumptions underlying all forward looking statements are reasonable,
any assumptions could be inaccurate, and therefore, there can be no assurance
that these statements will prove to be accurate. In light of these
uncertainties inherent in forward-looking statements, the inclusion of such
information should not be regarded as a representation by us, or anyone
affiliated with us, that our objectives and plans will be achieved.

AVAILABLE INFORMATION

We
are subject to the informational requirements of the Securities Exchange Act of
1934, as amended (the Exchange Act), and, in accordance therewith, files
reports, proxy and information statements and other information with the
Commission. Reports, proxy statements and other information filed by us with
the Commission pursuant to the informational requirements of the Exchange Act
may be inspected and copied at the public reference facilities maintained by
the Commission at Room 1024, Judiciary Plaza, 450 Fifth Street, N.W., Washington,
D.C. 20549. Copies of such material may also be obtained upon written request
addressed to the Commission, Public Reference Section, Room 1024, 450 Fifth
Street, N.W., Washington, D.C. 20549, at prescribed rates. The Commission also
maintains an Internet web site that contains reports, proxy and information
statements and other information regarding registrants that file electronically
with the Commission at www.sec.gov.

No
person has been authorized to give any information or to make any representation
other than as contained or incorporated by reference in this Quarterly Report
and, if given or made, such information or representation must not be relied
upon as having been authorized by us.

17

ITEM 3.
CONTROLS AND PROCEDURESOur
Chief Executive Officer and Chief Financial Officer have participated in and
supervised the evaluation of our disclosure controls and procedures (as defined
in Rules 13(a)-15(e) and 15(d)-15(e) under the Securities Exchange Act of 1934,
as amended (the Exchange Act) that are designed to ensure that information
required to be disclosed by us in the reports that we file is recorded,
processed, summarized and reported within the time periods specified in the
Securities and Exchange Commissions rules and forms. Disclosure controls and
procedures include, without limitation, controls and procedures designed to
ensure that the information required to be disclosed by us in the reports that
we file or submit under the Exchange Act is accumulated and communicated to our
management, including our Chief Executive Officer and Chief Financial Officer,
to allow timely decisions regarding required disclosure. Our Chief Executive
Officer and Chief Financial Officer determined that, as of the end of the
period covered by this report, these controls and procedures are adequate and
effective in alerting them in a timely manner to material information required
to be included in our periodic SEC filings. Due to the inherent limitations of
the effectiveness of any established disclosure controls and procedures, our
Chief Executive Officer and Chief Financial Officer cannot provide absolute
assurance that the objectives of their respective disclosure controls and
procedures will be met.

PART II -
OTHER INFORMATION

ITEM 1.
LEGAL PROCEEDINGSOn
June 22, 2006, together with Intercomosoft, our wholly owned subsidiary, we
commenced an action in the United States District Court for the Southern
District of New York against the Ministry of Economics of the Republic of Moldova
and the Republic of Moldova seeking damages and injunctive relief for various
specified breaches of the Contract on Leasing Equipment and Licensing
Technology dated April 29, 1996, as amended, between the Ministry of Economics
of the Republic of Moldova and Intercomsoft (the Supply Agreement). The
action seeks damages against the defendants in the aggregate amount of
approximately $41,000,000 as a consequence of such breaches, as well as
injunctive relief against the defendants for continuing to utilize the
equipment and technology licensed to defendants under the Supply Agreement or
for otherwise engaging in activities competitive with us for the period
specified in the applicable provisions of the Supply Agreement. As a
consequence of discussions with counsel to the defendants in such action, on
August 18, 2006, we withdrew such action, without prejudice.

On
September 20, 2006, Intercomsoft filed a Demand for Arbitration with the
International Chamber of Commerce, International Court of Arbitration, in
Geneva, Switzerland. The Demand repeats and incorporates the claims that were
set forth in the Complaint in the withdrawn prior action noted above.

18

The
action has not yet progressed beyond procedural stages. The Republic of Moldova
and the other respondents have interposed counterclaims against us and
Intercomsoft in amount totaling $30,000,000. The counterclaims contain
allegations of fraud and misrepresentation which the respondents claim occurred
during the performance of the Supply Agreement. Together with Intercomsoft, we
have denied any wrongdoing, are vigorously contesting the counterclaims and
have replied with opposition to such counterclaims in the arbitration.

In
addition, in April 2007, the Republic of Moldova and other respondents
commenced an arbitral proceeding in the Republic of Moldova that alleges
similar claims as in the counterclaims noted above. Together with Intercomsoft,
we plan to contest the viability of this proceeding.

There
can be no assurance as to the outcome of the above noted proceedings.

ITEM 2.
CHANGES IN SECURITIESThere
were no options to purchase shares of our common stock issued or exercised
during the three or six month period ended June 30, 2007. However, there were
options for the purchase of 1,000,000 shares of our common cancelled during
such period. As of June 30, 2007, the total number of shares of our common
stock reserved for issuance under options outstanding was 8,120,000, of which
options to purchase 3,870,000 shares were issued pursuant to our 2001 Omnibus
Plan, as amended.

ITEM 3.
DEFAULTS UPON SENIOR SECURITIESNone.

ITEM 4.
SUBMISSION OF MATTERS TO A VOTE OF SECURITY
 HOLDERSNone.

ITEM 5.
OTHER INFORMATIONDuring
the six month period ended June 30, 2007, we accrued an aggregate of $138,000
($23,000 per month) in compensation and $10,800 ($1,800 per month) in expenses
due to Boris Birshtein related to his performance as our Chairman of the Board.

During
the six month period ended June 30, 2007 we borrowed an aggregate of $272,000
from our Chairman of the Board and Royal HTM Group, Inc., a Canadian

19

company
beneficially owned and controlled by such individual, to meet on-going
operational expenses. Of such amounts, $75,000 was a direct advance of funds
and $197,000 were direct payments made by Royal HTM Group on our behalf to pay
expenses. Such amounts are non-interest bearing and are due on demand.

During
2005 we engaged Royal HTM Group, Inc. to render certain business development
services to us. During the six month period ended June 30, 2007 we accrued an
aggregate of $60,000 ($10,000 per month) for consulting fees due to Royal HTM
Group, Inc. for such services. Such amount is non-interest bearing and is due
on demand.

ITEM 6.
EXHIBITS AND REPORTS ON FORM 8-KThe
exhibits listed below are filed as part of this Quarterly Report for the period
ended June 30, 2007.

Exhibit No.

Document31.1

Chief Executive Officer
Certification31.2

Chief Financial Officer
Certification32.1

Chief Executive Officer Certification
 pursuant to18.U.S.C. Section 1350 as adopted pursuant to Section 906 of the
 Sarbanes-Oxley Act of 2002.32.2

Chief Financial Officer Certification
 pursuant to18.U.S.C. Section 1350 as adopted pursuant to Section 906 of the
 Sarbanes-Oxley Act of 2002.There
were no Current Reports on Form 8-K filed with the Securities and Exchange
Commission for the three or six month period ended June 30, 2007.

20

SIGNATURES

In
accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

TRIMOL GROUP, INC.Date: August
 14, 2007

By: /s/ Yuri
 BenensonName:
Yuri
 BenensonTitle:
Chief
 Executive OfficerBy: /s/ Jack
 BravermanName:
Jack
 BravermanTitle:
Chief
 Financial Officer21