U.S. SECURITIES AND EXCHANGE COMMISSION Washington, 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, 2005    Commission file number:  000-26971TRIMOL 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, 35thFloorNew York, New York 10019(Address of principal executive offices)(212) 554-4394(Issuers Telephone Number)   As of March 31, 2005, there were 100,472,328 issued and outstanding shares of the Companys common stock.  Transitional Small Business Disclosure Format (Check one): o Yes
        xNo  Accelerated filer as defined in Rule 12b-2 of the Securities Act of 1934. o Yes    xNo      TRIMOL GROUP, INC.



FORM 10-QSB QUARTERLY REPORT



For the period ended March 31, 2005



TABLE OF CONTENTS






PART
        I - FINANCIAL INFORMATIONITEM
        1.
    FINANCIAL
        STATEMENTS
    3INDEPENDENT
        ACCOUNTANTS REVIEW REPORTCONSOLIDATED
        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 OPERATION
    11ITEM
        3.
    CONTROLS
        AND PROCEDURES
    14PART
        II - OTHER INFORMATION15ITEM
        1.
    LEGAL
        PROCEEDINGSITEM
        2.
    CHANGES
        IN SECURITIESITEM
        3.
    DEFAULTS
        UPON SENIOR SECURITIES
    15ITEM
        4.
    SUBMISSION
        OF MATTERS TO A VOTE OF SECURITY HOLDERSITEM
        5.
    OTHER
        INFORMATION
    15ITEM
        6.
    EXHIBITS
        AND REPORTS ON FORM 8-K
    17SIGNATURES
    18





2



PART I - FINANCIAL INFORMATION






ITEM 1.
        FINANCIAL STATEMENTS

CONSOLIDATED FINANCIAL STATEMENTS

AS OF MARCH 31, 2005







3



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, 2005 and the related consolidated statements of operations and cash flows for the three month periods ended March 31, 2005 and 2004. 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.

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 Jersey


Date: May 11, 2005





4



TRIMOL GROUP, INC.



CONSOLIDATED BALANCE SHEET




March 31,
      2005
      (Unaudited)
    
    December 31,
      2004
      (Audited)ASSETSCurrent assets:Cash
    
    
    $
    28,000
    
    $
    35,000Accounts
      receivable
    
    
    
    708,000
    
    
    662,000TOTAL
      CURRENT ASSETS
    
    
    
    736,000
    
    
    697,000Property
      and equipment, net
    
    
    
    98,000
    
    
    106,000TOTAL ASSETS
    
    
    $
    834,000
    
    $
    803,000LIABILITIESCurrent liabilities:Trade accounts
      payable
    
    
    $
    21,000
    
    $
    195,000Accrued expenses
    
    
    
    568,000
    
    
    561,000Current portion
      of payables to related parties
    
    
    
    296,000
    
    
    582,000TOTAL
      CURRENT LIABILITIES
    
    
    
    885,000
    
    
    1,338,000SHAREHOLDERS
      DEFICIENCY
    
    
    
    (51,000
    )
    
    (535,000
    )TOTAL LIABILITIES
      AND SHAREHOLDERSDEFICIENCY
    
    
    $
    834,000
    
    $
    803,000The accompanying notes are an
integral part of the financial statements








5



TRIMOL GROUP, INC.

CONSOLIDATED STATEMENT OF OPERATIONS

(UNAUDITED)






Three Months Ended
      March 31,2005
    
    2004REVENUES
    
    
    $
    2,019,000
    
    $
    1,092,000OPERATING
      EXPENSESCost
      of revenues
    
    
    
    392,000
    
    
    332,000Marketing
      and promotion
    
    
    
    712,000
    
    
    295,000Other
      operating expenses
    
    
    
    431,000
    
    
    346,000TOTAL
      OPERATING EXPENSES
    
    
    
    1,535,000
    
    
    973,000NET
      INCOME
    
    
    $
    484,000
    
    $
    119,000Net
      income per share (basic and diluted)
    
    
    
    .005
    
    
    .001WEIGHTED
      AVERAGE NUMBER OFSHARES
      OUTSTANDING
    
    
    
    100,472,000
    
    
    100,472,000The accompanying notes are an
integral part of the financial statements







6



TRIMOL GROUP, INC.

CONSOLIDATED STATEMENT OF CASH FLOWS

(UNAUDITED)




Three Months
      Ended March 31,2005
    
    2004CASH
      FLOWS FROM OPERATING ACTIVITIES:NET INCOME
    
    
    $
    484,000
    
    $
    119,000ADJUSTMENTS
      TO RECONCILE NET INCOMETO NET CASH
      PROVIDED BY OPERATING ACTIVITIES:Depreciation
      of property and equipment
    
    
    
    8,000
    
    
    9,000CHANGES IN
      ASSETS AND LIABILITIES:Accounts
      receivable
    
    
    
    (46,000
    )
    
    (26,000
    )Prepaid expenses
    
    
    
    
    
    
    17,000Accounts
      payable
    
    
    
    (174,000
    )
    
    19,000Accrued expenses
    
    
    
    104,000
    
    
    80,000NET CASH
      PROVIDED BY OPERATING ACTIVITIES
    
    
    
    376,000
    
    
    218,000CASH FLOWS
      FROM INVESTING ACTIVITIES:Acquisition
      of property and equipment
    
    
    
    
    
    
    (84,000
    )NET CASH
      USED IN INVESTING ACTIVITIES
    
    
    
    
    
    
    (84,000
    )CASH FLOWS
      FROM FINANCING ACTIVITIES:Net repayments
      to related parties
    
    
    
    (286,000
    )
    
    (121,000
    )NET CASH
      USED IN FINANCING ACTIVITIES
    
    
    
    (286,000
    )
    
    (121,000
    )INCREASE
      (DECREASE) IN CASH
    
    
    
    (7,000
    )
    
    13,000CASH - BEGINNING
      OF PERIOD
    
    
    
    35,000
    
    
    20,000CASH - END
      OF PERIOD
    
    
    $
    28,000
    
    $
    33,000The accompanying notes are an
integral part of the financial statements







7



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, 2005 and for the three month periods ended March 31, 2005 and 2004 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, 2004. 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, 2004.

NOTE 2  OPERATIONS



The Company owns all of the outstanding shares of Intercomsoft Limited (Intercomsoft) a technology-intensive 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 utilizes a technology, the rights to which it acquired from Supercom, Ltd. (Supercom), pursuant to a Sales Agreement dated August 25, 1995, as amended. All of the equipment, consumables, software and technology required to operate, maintain and repair the system are supplied by Supercom pursuant to the Sales Agreement. On March 24, 2005 Intercomsoft and Supercom entered into a Termination Agreement terminating the Sales Agreement. Notwithstanding such termination, pursuant to the Termination Agreement, Supercom agreed to continue to supply such equipment, consumables, software and technology required by Intercomsoft during the remaining term of the Supply Agreement, as hereinafter defined.

Intercomsofts only customer at present, and since 1996, is the Government of the Republic of Moldova, pursuant to a ten (10) year 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.

The Company also has an exclusive worldwide license to an aluminum-air fuel cell technology solely for



8



use with consumer portable electronic devices, all rights and title to certain technology relating to aluminum-air fuel cells, and the design and know-how to a converter designed and developed by a related company. At this time, the Company is not pursuing the development of such technology.

As of the first quarter 2005, Intercomsoft is the Companys only operating entity.

NOTE 3 - RISKS AND UNCERTAINTIES



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

(a)Intercomsofts only customer is the Government of the Republic of Moldovas Ministry of Economics pursuant to a ten (10) year 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.

Moldova is a former Republic of the Soviet Union and the political and economic situation of such Republic has historically been unstable. Should the Government of the Republic of Moldova default under the agreement referred to in Note 2 or discontinue the use of Intercomsofts services under such agreement, the Company would likely have limited recourse. If for any reason (or for no reason) the agreement was terminated, the terms were materially or adversely amended, or business reduced, such event would have a material adverse effect on Intercomsoft. The Supply Agreement expires in April 2006, and is subject to renewal.

(b)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 for two years. Such research and development was suspended in the second quarter of 2003 until such time, if any, as the Company is able to obtain financing to proceed with such efforts as additional capital will be required in order to further develop this technology before it can be commercially exploited. There can be no assurance that additional financing will be available on commercially reasonable terms or at all. If adequate funds are not available, or are not available on acceptable terms, the Company may not be able to further develop the technology. Such inability to obtain additional financing when needed would have a negative impact on the Company. If
additional funds are raised through the issuance of equity or convertible debt securities, the percentage ownership of the existing shareholders will be reduced, and the holders of such securities may have rights, preferences and privileges senior to those of the holders of shares of the Companys common stock.

Although the United States Patent and Trademark Office has issued several patents on the technology, there can be no assurances that any additional patents will issue or to what extent, if any, such patents will provide protection from competitors or others and there can be no assurances that such technology will be marketable and/or profitable.

The Company continues to believe that there may be potential viability for its aluminum-air fuel cell technology, however, management has concluded that due to the extraordinary time and enormous costs involved, continued research and development efforts are not justified at this time.

NOTE 4 - RELATED PARTY TRANSACTIONS AND BALANCES



At March 31, 2005, amounts payable to related parties consisted of accrued compensation due to the Companys Chairman of the Board and out-of-pocket expenses due to Royal HTM Group, a company beneficially owned and controlled by the Companys Chairman of the Board. These amounts were paid in April 2005.





9



NOTE 5 - COMMITMENTS AND GENERAL COMMENTS

Intercomsoft was party to a Sales Agreement dated August 25, 1995 with Supercom Ltd. pursuant to which it purchased from Supercom the equipment, software and consumables utilized by it for the production of computerized documents under a Supply Agreement with the government of the Republic of Moldovas Ministry of Economics. Such Sales Agreement obligated Intercomsoft to pay 25% of its profits to Supercom, as more specifically provided for under the agreement. However, on March 24, 2005 Intercomsoft and Supercom entered into a Termination Agreement terminating the Sales Agreement. Notwithstanding such termination, pursuant to the Termination Agreement, Supercom agreed to continue to supply such equipment, consumables, software and technology required by Intercomsoft during the remaining term of the Supply Agreement.



In February 2000, the Company issued warrants to purchase 1,400,000 shares of its common stock to three employees, 400,000 of which were canceled on January 28, 2003 and the balance of which expired in February 2005.



During the three months ended March 31, 2005, the Company issued 1,000,000 options to purchase its common stock at an exercise price of $.01 per share. As of March 31, 2005, the total options outstanding were 7,820,000, of which 5,470,000 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, research and development of an aluminum-air fuel cell technology acquired from a related party, and general and administrative expenses incurred for corporate purposes.



THREE MONTHS ENDED MARCH 31, 2005


Intercomsoft
    
    Research and
      Development
    
    
    Corporate
      and
      Administrative
    
    TotalNet
      sales
    
    
    $
    2,019,000
    
    $
    
    
    
    $
    
    
    $
    2,019,000Operating
      expenses
    
    
    
    1,147,000
    
    
    
    
    
    312,000
    
    
    1,535,000Net income
      (loss)
    
    
    $
    872,000
    
    $
    
    
    
    $
    (312,000
    )
    $
    484,000THREE MONTHS ENDED MARCH 31, 2004



Intercomsoft
    
    Research and
      Development
    
    Corporate
      and
      Administrative
    
    TotalNet
      sales
    
    
    $
    1,092,000
    
    $
    
    
    $
    
    
    $
    1,092,00Operating
      expenses
    
    
    
    661,000
    
    
    
    
    
    312,000
    
    
    973,000Net income
    
    
    $
    431,000
    
    $
    
    
    $
    (312,000
    )
    $
    119,000

10



ITEM 2.
        MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATION



The 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

We operate Intercomsoft, Ltd. (Intercomsoft), a wholly owned subsidiary acquired by us in the second quarter of 1998. Intercomsoft is a technology-intensive 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. Other potential applications of the technology include police and military use, access control, high security identification and government and corporate identification products, among many others. In addition, the technology has potential applications for national population database management, border control and vehicle tracking, immigration management and smart card applications for both
business and government such as retirement benefit plans and health, welfare, insurance and social security programs.

Intercomsoft utilizes a technology, the rights to which it acquired from Supercom, Ltd. (Supercom), an Israeli corporation, pursuant to a Sales Agreement dated August 25, 1995, as amended, with a term of ten (10) years. All of the equipment, consumables, software and technology required to operate, maintain and repair the system are supplied by Supercom pursuant to the Sales Agreement. On March 24, 2005 Intercomsoft and Supercom entered into a Termination Agreement terminating the Sales Agreement. Notwithstanding such termination, pursuant to the Termination Agreement, Supercom agreed to continue to supply such equipment, consumables, software and technology required by Intercomsoft during the remaining term of the Supply Agreement, pursuant to requirements of the Supply Agreement, as hereinafter defined.

Although it is interested in developing other opportunities, Intercomsofts only customer at present, and since 1996, is the Government of the Republic of Moldova, pursuant to a ten (10) year 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.



11



If and to the extent that other such opportunities are presented to us in the future, we will be required to obtain substantial capital in order to pursue any such opportunities. There can be no assurances that such capital, if and when needed, will be available to us.

We currently derive all of our revenues and income pursuant to Intercomsofts Supply Agreement with the Government of the Republic of Moldova. The Republic of Moldova has historically been unstable and we would have limited recourse should the Government default under the agreement or discontinue use of Intercomsofts services provided for under the agreement. If for any reason (or for no reason) such agreement was terminated, the terms were materially amended, or business reduced, such event would have a material adverse effect on us. Further, as the revenue generated by Intercomsoft is our only current revenue, any material adverse impact on Intercomsoft would have a material adverse impact on us. Currently, the Government has the right to terminate the agreement in less than one year.

In addition, in the first quarter of 2001, we acquired certain rights from Aluminum-Power, Inc. (Aluminum-Power), our majority shareholder, to an aluminum-air fuel cell technology for use in portable consumer electronic products and devices such as cellular telephones and laptop computers. However, at this time we are not pursuing the development of such technology.

RESULTS OF OPERATIONS



General

During the three month period ended March 31, 2005, our operations consisted solely of the activities of Intercomsoft.

As more fully described above, Intercomsoft currently operates in and derives its revenues solely from services performed for the Government of the Republic of Moldova pursuant to a Supply Agreement with such Government. The uncertain economy and political instability in the Republic of Moldova could result in the termination or loss of such agreement, thereby having a material adverse effect on us.

Comparison of Three Months Ended March 31, 2005 to Three Months Ended March 31, 2004

During the three months ended March 31, 2005, we had revenues resulting solely from Intercomsofts production of government documents in the Republic of Moldova of approximately $2,019,000 as compared to $1,092,000 for the same period in 2004, an increase of approximately 85%.

The increase in revenue of $927,000 in the three months ended March 31, 2005 as compared to the same period in 2004 was the result of a number of factors. As of January 1, 2005 a protocol enacted by the Russian and the Ukraine governments in November 2004 became effective requiring individuals to produce a valid passport for travel across the Russian and Ukraine borders and at border control points. Prior to January 1, 2005 passports from the former Soviet Union were accepted as valid identification, as well as other various forms of identification. However, as of January 1, 2005 a valid passport issued by the country of citizenry became required. This necessitated that hundreds of thousands of Moldovan citizens working in



12



Russia and the Ukraine secure a valid passport from Moldova which in turn led to a significant rise in the number of passports issued during this three month period.

In addition, in 2001 strict passport controls were introduced in both Moldova and its neighbor Romania which required Moldovan citizens traveling between Romania and Moldova to present a valid Moldovan passport. The common occurrence of border crossing between Moldova and Romania required a passport beginning in 2001, whereas prior to such time travelers frequently crossed borders with such identification. The more stringent passport control has also led to a continuing increase in passport issuances and renewals in Moldova.

In addition, our ongoing program of public awareness encourages the renewal of various forms of government license and registrations resulting in an increase in the issuance of such replacement documents. Direct marketing efforts by us and cross marketing to individuals during passport renewals and/or issuances has also led to a continuing increase in the sale of collateral documentation including drivers license and other government issued documents that Intercomsoft produces.

During the three months ended March 31, 2005, Intercomsofts costs associated with generating these revenues were $392,000 or 19% of revenues, as compared to $332,000, or 30% of revenues, for the same period in 2004. The decrease of costs associated with generating revenue was due to the termination of the Supply Agreement with Supercom Ltd. in March 2005 which eliminated significant profit sharing provisions. (See Item 5Other Information). The 85% increase in revenues, combined with the 17% decrease in cost of goods resulted in gross profit for Intercomsoft of approximately $1,627,000 for the three month period ended March 31, 2005 as compared to $760,000 for the same period in 2004, an increase of approximately 114%.

General and administrative expenses for the three months ended March 31, 2005, were approximately $431,000, which consisted of $43,000 of Intercomsoft expenses and $388,000 of general corporate and administrative expenses. For the same period in 2004, general and administrative expenses aggregated approximately $346,000, which consisted of $34,000 of Intercomsoft expenses and $312,000 of general corporate and administrative expenses. The increase of general corporate and administrative expenses of $85,000, or 25%, resulted from increased travel costs related to the various corporate development opportunities.

Public relations, marketing and advertising expenses for the three months ended March 31, 2005 were $712,000, compared to $295,000 in the same period in 2004, an increase of $417,000, or 142%. All of such expenses were related to efforts to expand the use of Intercomsofts services. The increase in public relations, marketing and advertising expenses of Intercomsoft resulted from an increase in marketing efforts as well as in commissions and fees paid pursuant to various marketing agreements, which are based on revenue generated in the period.

We had net profit from operations of approximately $484,000 for the three month period ended March 31, 2005, as compared to a net profit of approximately $119,000 for the same period in 2004, which resulted from all of the reasons set forth above.





13



Liquidity & Capital Resources

Although we believe we have adequate capital to fund our current operations for fiscal year 2005, we will need to obtain additional working capital for future periods if we are to pursue any additional research and development efforts in connection with our aluminum-air fuel cell technology or expand the services of Intercomsoft.

We may seek additional funding in an effort to subsidize such future research and development expenses as well as to fund our efforts to expand the services of Intercomsoft. Such additional funding may be obtained by bank borrowings, public offerings, or private placements of our equity or debt securities, loans from shareholders, or a combination of the foregoing. However, there can be no assurances that additional financing will be available or, if available, that it will be available on terms that are acceptable to us



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.




ITEM 3.
        CONTROLS AND PROCEDURES

Based upon their evaluation of our internal controls, disclosure controls and procedures within 90 days of the filing of this report, our Chief Executive Officer and Chief Financial Officer have concluded that the effectiveness of such controls and procedures is satisfactory. Further, there were no significant changes in our internal controls or in any other factors that could significantly affect those controls subsequent to the date of their evaluation.





14



PART II - OTHER INFORMATIONITEM 1.
        LEGAL PROCEEDINGS


None.




ITEM 2.
        CHANGES IN SECURITIES

During the three month period ended March 31, 2005, we issued 1,000,000 options to purchase our common stock under our 2001 Omnibus Plan, as amended.  There were no options cancelled during such period. As of March 31, 2005, the total options outstanding were 7,820,000, of which 5,470,000 were issued pursuant to our 2001 Omnibus Plan, as amended.






ITEM 3.
        DEFAULTS UPON SENIOR SECURITIES


None.




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

None.




ITEM 5.
        OTHER INFORMATIONThe employment agreement between us and Boris Birshtein, our Chairman of the Board of Directors, expired on December 31, 2003 and was not renewed. Pursuant to a letter agreement dated March 10, 2004 between us and Mr. Birshtein, Mr. Birshtein agreed to continue to serve as our Chairman of the Board of Directors on a month-to-month basis on substantially the same terms as were provided for in his prior employment agreement. Such letter agreement provides Mr. Birshtein with, among other things, a base annual salary of $276,450.

On March 24, 2005, Intercomsoft and Supercom entered into a Termination Agreement. Pursuant to the Termination Agreement, the Sales Agreement was terminated at the request of Supercom. Under the Sales Agreement, certain equipment, technology, supplies and other consumables which Intercomsoft is obligated to supply to the Government of the Republic of Moldova pursuant its Supply Agreement dated April 29, 1996, was supplied by Supercom on behalf of Intercomsoft pursuant to the Sales Agreement. Notwithstanding the termination of the Sales Agreement pursuant to the Termination Agreement, Supercom agreed to continue to supply Moldova with such equipment, consumables, software and technology during the remaining term of the Supply Agreement, upon the request of Moldova pursuant to the requirements of the Supply Agreement. Pursuant to the Termination Agreement, Intercomsoft agreed to pay to
Supercom, in nine equal monthly installments commencing in April 2005, the



15



sum of $184,912 representing the balance of the amount due for certain equipment supplied by Supercom pursuant to the Sales Agreement. In addition, 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.





16



ITEM 6.
        EXHIBITS AND REPORTS ON FORM 8-K

(a)The exhibits listed below are filed as part of this Quarterly Report for the period ended March 31, 2005.




Exhibit No.
        Document


31.1
        Chief Executive Officer Certification


31.2
        Chief Financial Officer Certification

32.1
        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.

(b)We filed a Report on Form 8-K on March 28, 2005 disclosing the terms of the Termination Agreement entered into on March 24, 2005 by and between Supercom Ltd. and Intercomsoft Limited, our wholly owned subsidiary. Such Report is incorporated herein by reference thereto.







17



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 16, 2005
        By:  /s/ Yuri BenensonName: Yuri BenensonTitle: Chief Executive OfficerBy:  /s/ Jack BravermanName: Jack BravermanTitle: Chief Financial Officer







18