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 March 31, 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
  FloorNew 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 xNo 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 March 31, 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 March 31, 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 OPEERATIONS

13ITEM 3.

CONTROLS AND
  PROCEDURES

16PART II - OTHER
  INFORMATIONITEM 1.

LEGAL
  PROCEEDINGS

16ITEM 2.

CHANGES IN
  SECURITIES

17ITEM 3.

DEFAULTS
  UPON SENIOR SECURITIES

17ITEM 4.

SUBMISSION
  OF MATTERS TO A VOTE OF SECURITY HOLDERS

18ITEM 5.

OTHER
  INFORMATION

18ITEM 6.

EXHIBITS
  AND REPORTS ON FORM 8-K

18SIGNATURES



192

PART I - FINANCIAL
INFORMATION

ITEM 1.
FINANCIAL STATEMENTSCONSOLIDATED
  FINANCIAL STATEMENTSAS OF MARCH 31, 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 March 31, 2007 and the related consolidated statements of operations and
cash flows for the three month periods ended March 31, 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
$1,648,000. 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.

PARITZ & COMPANY, P.A.Hackensack, New JerseyDate: May 6,
  20074

TRIMOL GROUP, INC.CONSOLIDATED BALANCE SHEETMarch 31,
  2007
  (Unaudited)

December
  31, 2006
  (Audited)ASSETSCurrent assets:Cash

$
8,000

$
13,000TOTAL CURRENT ASSETS


8,000


13,000Property and equipment,
net


53,000


61,000TOTAL ASSETS

$
61,000

$
74,000LIABILITIESCurrent liabilities:Related parties

$
1,267,000

$
1,023,000Accrued expenses


442,000


459,000TOTAL CURRENT
LIABILITIES


1,709,000


1,482,000SHAREHOLDERS EQUITY
(DEFICIENCY)


(1,648,000
)

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

$
61,000

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

TRIMOL GROUP, INC.CONSOLIDATED STATEMENT OF OPERATIONS(UNAUDITED)Three
  Months Ended March 31,2007

2006REVENUES

$


$
1,700,000OPERATING EXPENSESCost of revenues





498,000Marketing and
promotion





569,000Other operating
expenses


240,000


478,000TOTAL OPERATING
EXPENSES


240,000


1,545,000NET INCOME (LOSS)

$
(240,000
)
$
155,000Net income (loss) per share
(basic and diluted)


(.002
)

.0015WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING


100,472,000


100,472,000The
  accompanying notes are an integral part of the financial statements6

TRIMOL GROUP, INC.CONSOLIDATED STATEMENT OF CASH FLOWS(UNAUDITED)Three
  Months Ended March 31,2007

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

$
(240,000
)
$
155,000ADJUSTMENTS TO RECONCILE NET
INCOME TO NET CASH USED IN OPERATING
  ACTIVITIES:Depreciation of property and
equipment


8,000


8,000Accrued expenses to related
parties


105,000CHANGES IN ASSETS AND
LIABILITIES:Accounts receivable





(564,000
)Accounts payable





(221,000
)Accrued expenses


(17,000
)

611,000NET CASH USED IN OPERATING
ACTIVITIES


(144,000
)

(11,000
)CASH FLOWS FROM FINANCING
ACTIVITIES:Proceeds from related
parties


139,000


NET CASH PROVIDED BY FINANCING
ACTIVITIES


244,000


DECREASE IN CASH


(5,000
)

(11,000
)CASH  BEGINNING OF
PERIOD


13,000


14,000CASH  END OF
PERIOD

$
8,000

$
3,000The
  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 March 31, 2007
and for the three month periods ended March 31, 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 supplied 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

8

Agreement which, unless renewed,
expired by its terms on April 29, 2006. The Company does 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 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 the pleading stage. The Republic of Moldova and other
respondents have interposed a counterclaim against Intercomsoft in amounts
totaling $30,000,000. 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 them in the
arbitration.

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

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.

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.

9

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 supplied its goods and services pursuant to the Supply Agreement between the
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 pleading stage. The Republic of Moldova and the other
respondents have interposed counterclaims against the Company and Intercomsoft
in amounts totaling $30,000,000. 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.

10

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 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., 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. Mr. Birshteins compensation for the three months ended
March 31, 2007 and 2006 aggregated $69,000, which is included in General and
Administrative Expenses on the accompanying consolidated statement of
operations. During the three months ended March 31, 2007, the Company also
accrued $5,000 in expenses related to Mr. Birshteins 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 three months ended March 31, 2007 the Company accrued $30,000 to Royal HTM
Group for such services.

During the three months
ended March 31, 2007 Royal HTM Group lent the Company $139,000 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.

$
944,000Accrued
  compensation due to the Chairman.


323,000$
1,267,000These
  amounts are non-interest bearing and due on demand.


NOTE 5-STOCK
COMPENSATION PLANS

During the
three months ended March 31, 2007, the Company did not issue any options to
purchase its common stock. As of March 31, 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 plus corporate and
administrative functions. The segments consist of Intercomsoft, which produces
secure essential government identification documents, and general and
administrative expenses incurred for corporate purposes.

THREE MONTHS ENDED MARCH 31,
2007

Intercomsoft

Corporate
  andAdministrative

TotalNet sales

$


$


$
Operating expenses


8,000


232,000


240,000Net loss

$
(8,000
)
$
(232,000
)
$
240,000THREE MONTHS ENDED MARCH 31,
2006

Intercomsoft

Corporate
  andAdministrative

TotalNet sales

$
2,019,000

$


$
2,019,000Operating expenses


1,147,000


312,000


1,535,000Net income (loss)

$
872,000

$
(312,000
)
$
484,00012

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 the pleading stage. 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.

13

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, Trimol is not
engaged in any other business operations.

RESULTS OF OPERATIONS

General

During
the three month period ended March 31, 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: March 31, 2007 to March 31, 2006

During
the three months ended March 31, 2007, we generated no revenues as compared to
$1,700,000 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 March 31, 2007, there were no costs associated with
generating revenues, as compared to $498,000, or 29% of revenues, for the same
period in 2006.

General
and administrative expenses for the three months ended March 31, 2007, were
approximately $240,000, which consisted of $8,000 of Intercomsoft expenses
consisting of machinery and equipment depreciation, and $232,000 of which were
general corporate and administrative expenses. For the same period in 2006,
general and administrative expenses aggregated approximately $478,000, which
consisted of $29,000 of Intercomsoft expenses and $449,000 of general corporate
and administrative expenses. General corporate and administrative expenses
decreased significantly in the three months ended March 31, 2007 compared to
the same period in 2006 due to corporate overhead cutbacks resulting from the
contested non-renewal of

14

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

There
were no public relations, marketing and advertising expenses for the three
months ended March 31, 2007, compared to $569,000 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 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 $240,000 for the three month
period ended March 31, 2007, as compared to a net income of approximately
$155,000 for the same period in 2006, which resulted from all of the reasons
set forth above.

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

15

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.

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

16

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.

The
action has not yet progressed beyond the pleading stage. 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 issued or exercised during the three month period ended March
31, 2007. However, there were options to purchase 1,000,000 shares of our
common stock cancelled during such period. As of March 31, 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.

17

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

ITEM 5.
OTHER INFORMATIONDuring
the three month period ended March 31, 2007, we accrued $69,000 in compensation
and $5,400 in expenses due to Boris Birshtein related to his performance as our
Chairman of the Board.

During
the three month period ended March 31, 2007 we borrowed $139,000 from our
Chairman of the Board and Royal HTM Group, Inc., a Canadian company
beneficially owned and controlled by such individual, to meet on-going
operational expenses. Of such amount, $43,000 was a direct advance of funds and
$96,000 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 three month period ended March 31, 2007 we accrued
$30,000 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 March 31, 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 month period ended March 31, 2007.

18

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: May
  15, 2007
By: /s/ Yuri
  BenensonName: Yuri
  BenensonTitle:   Chief
  Executive OfficerBy: /s/ Jack
  BravermanName: Jack
  BravermanTitle:   Chief
  Financial Officer19