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 September 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 September 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 September 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

13ITEM 3.

CONTROLS AND
 PROCEDURES

16PART II - OTHER
 INFORMATIONITEM 1.

LEGAL
 PROCEEDINGS

17ITEM 2.

CHANGES IN
 SECURITIES

17ITEM 3.

DEFAULTS
 UPON SENIOR SECURITIES

18ITEM 4.

SUBMISSION
 OF MATTERS TO A VOTE OF SECURITY HOLDERS

18ITEM 5.

OTHER
 INFORMATION

18ITEM 6.

EXHIBITS
 AND REPORTS ON FORM 8-K

18SIGNATURES

202

PART I - FINANCIAL
INFORMATION

ITEM 1.
FINANCIAL STATEMENTSCONSOLIDATED
 FINANCIAL STATEMENTS
 AS OF SEPTEMBER 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 September 30, 2007 and the related consolidated statements of
operations and cash flows for the nine and three month periods ended September
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 that expired April 29, 2006. In addition, as shown on the
accompanying balance sheet, the Companys liabilities exceeded its assets by
$2,331,000. 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:    November 9, 20074

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

December 31, 2006
 (Audited)ASSETSCurrent assets:Cash


$
4,000



$
13,000TOTAL CURRENT ASSETS



4,000




13,000Property and equipment,
net



37,000




61,000TOTAL ASSETS


$
41,000



$
74,000LIABILITIESCurrent liabilities:Due to related parties


$
1,855,000



$
1,023,000Accrued expenses



517,000




459,000TOTAL CURRENT
LIABILITIES



2,372,000




1,482,000SHAREHOLDERS
DEFICIENCY



(2,331,000
)



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


$
41,000



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

5

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

THREE
 MONTHS ENDEDSEPTEMBER
 30,
 2007

SEPTEMBER
 30,
 2006

SEPTEMBER
 30,
 2007

SEPTEMBER
 30,
 2006REVENUES


$




$
2,211,000



$




$
OPERATING EXPENSES:Cost of revenues








593,000









Marketing and
promotion








1,003,000









Other operating
expenses



923,000




1,106,000




399,000




215,000TOTAL OPERATING
EXPENSES



923,000




2,702,000




399,000




215,000NET INCOME (LOSS)


$
(923,000
)


$
(491,000
)


$
(399,000
)


$
(215,000
)Net income (loss) per share
(basic and diluted)



(.009
)



(.005
)



(.004
)



(.002
)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 statements

6

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

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


$
(923,000
)


$
(491,000
)ADJUSTMENTS TO RECONCILE NET
INCOMETO NET CASH (USED IN) OPERATING
ACTIVITIES:Depreciation of property and
equipment



24,000




17,000CHANGES IN ASSETS AND
LIABILITIES:Accounts receivable








(925,000
)Prepaid expenses








(267,000
)Accrued expenses



58,000




1,078,000NET CASH USED INOPERATING
ACTIVITIES



(841,000
)



(588,000
)CASH FLOW FROM FINANCING
ACTIVITIES:Loans from related
parties



832,000




578,000NET CASH PROVIDED BY FINANCING
ACTIVITIES



832,000




578,000DECREASE IN CASH



(9,000
)



(10,000
)CASH  BEGINNING OF
PERIOD



13,000




14,000CASH  END OF
PERIOD


$
4,000



$
4,000The 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
September 30, 2007 and for the nine and three month periods ended September 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 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

8

documents in accordance with
the terms of the Supply Agreement. As a consequence of discussions with counsel
to the defendants in this action, the Company withdrew the action 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 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 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.

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

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.

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
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

9

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 proceedings.

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.

10

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

Boris Birshtein serves as
the Companys Chairman of the Board of Directors (the Chairman) on a
month-to-month basis. During the three and nine months ended September 30,
2007, the Company accrued $69,000 and $207,000 ($23,000 per month),
respectively, in compensation due to him and accrued $5,400 and $16,200 ($1,800
per month), respectively, 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 three and nine months ended September 30, 2007 the Company accrued
$30,000 and $90,000 ($10,000 per month), respectively, to Royal HTM Group for
such services.

During the three and nine
months ended September 30, 2007 Royal HTM Group lent the Company $247,000 and
$519,000, respectively, to cover operating expenses for the period then ended.

Payables to related parties
consist of the following:

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

$
1,394,000Accrued compensation due to the
Chairman.


461,000$
1,855,000These amounts are
non-interest bearing and due on demand.

NOTE 5 - STOCK
COMPENSATION PLANS

During the
three and nine months ended September 30, 2007, the Company did not issue any
options to purchase its common stock. As of September 30, 2007, the total
options outstanding were 7,620,000, 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.

11

Intercomsoft

Corporate and
 Administrative

TotalNINE MONTHS
 ENDED SEPTEMBER 30, 2007Net sales


$




$



$
Operating
 expenses



24,000




899,000



923,000Net income
 (loss)


$
(24,000
)


$
(899,000
)

$
(923,000
)NINE MONTHS
 ENDED SEPTEMBER 30, 2006Net sales


$
2,211,000



$



$
2,211,000Operating
 expenses



1,650,000




1,052,000



2,702,000Net income
 (loss)


$
561,000



$
(1,052,000
)

$
(491,000
)THREE MONTHS
 ENDED SEPTEMBER 30, 2007Net sales


$




$



$
Operating
 expenses



8,000




391,000



399,000Net income
 (loss)


$
(8,000
)


$
(391,000
)

$
(399,000
)THREE MONTHS
 ENDED SEPTEMBER 30, 2006Net sales


$




$



$
Operating
 expenses








215,000



215,000Net income
 (loss)


$




$
(215,000
)

$
(215,000
)12

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

We
are currently involved in a number of legal actions in connection with the
Supply Agreement, which are set forth in detail in Part II-Item 1 of this
report entitled Legal Proceedings.

Currently,
although as are exploring various opportunities, other than activities related
to the Supply Agreement, we are not engaged in any other business operations at
this time.

RESULTS OF OPERATIONS

General

During
the three and nine month period ended September 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
described in Part II Item 1 herein. The operations of Intercomsoft were
inactive during this period.

13

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

During
the three months ended September 30, 2007, we generated no revenues and
similarly generated no revenues in the same periods in 2006. Revenue in periods
prior to those at issue resulted from Intercomsofts production of government
documents in the Republic of Moldova and the lack of revenue in the periods at
issue resulted from the contested non-renewal of the Supply Agreement on April
29, 2006.

General
and administrative expenses for the three months ended September 30, 2007, were
approximately $399,999, which consisted of $8,000 of Intercomsoft expenses
consisting of machinery and equipment depreciation, and $391,000 of which were
general corporate and administrative expenses. For the same period in 2006,
general and administrative expenses aggregated approximately $215,000 all of
which were general and corporate administrative expenses, none of which were
Intercomsoft expenses. General corporate and administrative expenses increased
in the three months ended September 30, 2007 compared to the same period in
2006 due, in most part, to fees and expenses related to the on-going legal
actions of the contested non-renewal of the Supply Agreement on April 29, 2006.

There
were no public relations, marketing and advertising expenses for the three
months ended September 30, 2007 or 2006. 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.

We
had a net loss from operations of approximately $399,999 for the three month
period ended September 30, 2007, as compared to a net loss of approximately
$215,000 for the same period in 2006, which resulted from all of the reasons
set forth above.

Comparison of Nine Month Period Ended
September 30, 2007 to September 30, 2006

During
the nine months ended September 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.

During
the nine months ended September 30, 2007, there were no costs associated with
generating revenues, as compared to $593,000, or 26% of revenues, for the same
period in 2006.

General
and administrative expenses for the nine months ended September 30, 2007, were
approximately $923,000, which consisted of $24,000 of Intercomsoft expenses
consisting of machinery and equipment depreciation, and $899,000 of which were
general corporate and
administrative expenses. For the same period in 2006, general and
administrative expenses aggregated approximately $1,106,000, which consisted of
$54,000 of Intercomsoft expenses and $1,052,000 of general corporate

14

and
administrative expenses. General corporate and administrative expenses
decreased in the nine months ended September 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.

There
were no public relations, marketing and advertising expenses for the nine
months ended September 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.

We
had a net loss from operations of approximately $923,000 for the nine month
period ended September 30, 2007, as compared to a net loss of approximately
$491,000 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,

15

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.

ITEM 3.
CONTROLS AND PROCEDURESAs of the end
of the period covered by this report, we carried out, under the supervision and
with the participation of our management, including our Chief Executive Officer
and Chief Financial Officer, an evaluation of the effectiveness of the design
and operation of our disclosure controls and procedures (as defined in Rule
13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) in ensuring
that information required to be disclosed by us our reports is recorded,
processed, summarized and reported within the required time periods. In
carrying out that evaluation, management identified a material weakness (as
defined in Public Company Accounting Oversight Board Standard No. 2) in our
internal control over financial reporting.

The material
weakness identified by management consisted of inadequate staffing and
supervision within our bookkeeping and accounting operations. The relatively
small number of individuals who have bookkeeping and accounting functions
prevents us from segregating duties within our internal control system. The inadequate
segregation of duties is a weakness because it could lead to the untimely
identification and resolution of accounting and disclosure matters or could
lead to a failure to perform timely and effective reviews. However, as there
has been no instance in which we have failed to identify or resolve a
disclosure matter or failed to perform a timely and effective review,
management determined that the addition of personnel to our bookkeeping and
accounting operations is not an efficient use of our very limited resources at
this time.

Accordingly,
based on their evaluation of our disclosure controls and procedures as of
September 30, 2007, our Chief Executive Officer and our Chief Financial Officer
have concluded that, as of that date, our controls and procedures were
effective for the purposes described above.

There was no
change in our internal control over financial reporting (as defined in Rule
13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934) during the
three

16

and nine month
period ended September 30, 2007 that has materially affected or is reasonably
likely to materially affect our internal control over financial reporting.

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.

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 are contesting 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

17

exercised during the three or
nine month period ended September 30, 2007. However, there were options for the
purchase of 500,000 shares of our common cancelled during such three month
period. As of September 30, 2007, the total number of shares of our common
stock reserved for issuance under options outstanding was 7,620,000, 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 three and nine month period ended September 30, 2007, we accrued an
aggregate of $69,000 and $207,000 respectively, ($23,000 per month) in
compensation and $5,400 and $16,200 respectively, ($1,800 per month) in
expenses due to Boris Birshtein related to his performance as our Chairman of
the Board.

During
the three and nine month period ended September 30, 2007 we borrowed an
aggregate of $247,196 and $519,196 respectively, 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. The significant
increase in funds borrowed during the three month period ended September 30,
2007 related to $150,000 advanced on our behalf for the legal proceedings
described in Item 1 above. 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 and nine month period ended September 30, 2007
we accrued an aggregate of $30,000 and $90,000 respectively, ($10,000 per
month) for consulting fees due to Royal HTM Group, Inc. for such services. Such
amounts are non-interest bearing and are 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 September 30, 2007.

18

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 nine month period ended September 30, 2007.

19

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:
 November 14, 2007

By: /s/ Yuri
 BenensonName: Yuri
 BenensonTitle: Chief
 Executive OfficerBy: /s/ Jack
 BravermanName: Jack
 BravermanTitle: Chief
 Financial Officer20