----

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| [X] | Quarterly                    Report Under Section 13 or 15(d) of The Securities Exchange Act                    of 1934                    for the Quarterly Period Ended March 31,                    2008 |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| [                     ] | Transition                    Report Under Section 13 or 15(d) of The Securities Exchange Act                    of 1934                    for the Transition Period from _______ to                    _______ |
|------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| FLORIDA                                            | 65-0493217                                           |
|----------------------------------------------------|------------------------------------------------------|
| (State                    or other jurisdiction of | (IRS                    Employer Identification No.) |
| incorporation                    or organization)  |                                                      |

----

|  | Yes                    [x] |  |  | No                    [ ] |
|--|----------------------------|--|--|---------------------------|

| Large                    accelerated filer    |  ̈                                                                        |
|----------------------------------------------------|------------------------------------------------------------------------------------|
| Non-accelerated                    filer      |  ̈ (Do                    not check if a smaller reporting company)  |
| Accelerated                    filer          |  ̈                                                                             |
| Smaller                    reporting company  | þ                                                                             |

----

|   TABLE                    OF                    CONTENTS                                                                                                      |                                        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------|
|                                                                                                                                                                          |                                        |
| PART                    I. FINANCIAL INFORMATION                                                                                                                         |                                        |
|                                                                                                                                                                          |                                        |
| ITEM                    1. FINANCIAL                    STATEMENTS                                                                                                       | 3                                      |
|                                                                                                                                                                     |                                   |
| ITEM                    2. MANAGEMENT'S                    DISCUSSION AND                    ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF                    OPERATION | 10                                     |
|                                                                                                                                                                          |                                        |
| ITEM                    3. QUANITATIVE AND QUALITATIVE DISCLOSURES                    ABOUT MARKET RISK                                                                  | 15                                     |
|                                                                                                                                                                     |                                   |
| ITEM                    4. CONTROLS                    AND                    PROCEDURES                                                                                 | 15                                     |
|                                                                                                                                                                          |                                        |
| PART                    II. OTHER INFORMATION                                                                                                                            |                                        |
|                                                                                                                                                                          |                                        |
| ITEM                    1. LEGAL                    PROCEEDINGS                                                                                                          |  15                               |
|                                                                                                                                                                          |                                        |
| ITEM                    1A. RISK FACTORS                                                                                                                                 |       15 |
|                                                                                                                                                                     |                                   |
| ITEM                    2. UNREGISTERED SALES OF EQUITY SECURITIES                    AND USE OF PROCEEDS                                                                | 15                                     |
|                                                                                                                                                                     |                                   |
| ITEM                    3. DEFAULTS                    UPON SENIOR                    SECURITIES                                                                         | 15                                     |
|                                                                                                                                                                     |                                   |
| ITEM                    4. SUBMISSION OF MATTERS TO A VOTE                    OF                    SECURITY HOLDERS                                                     | 15                                     |
|                                                                                                                                                                     |                                        |
| ITEM                    5. OTHER                    INFORMATION                                                                                                          | 15                                     |
|                                                                                                                                                                          |                                        |
| ITEM                    6. EXHIBITS                    AND REPORTS ON FORM                    8-K                                                                        | 15                                     |
|                                                                                                                                                                          |                                        |
| SIGNATURES                                                                                                                                                               | 16                                     |
|                                                                                                                                                                          |                                        |
| INDEX                    TO                    EXHIBITS                                                                                                                  | 17                                     |

----

Table              of Contents

TEMENTS

|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   | INFORMATION                      SYSTEMS ASSOCIATES,                      INC. |   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------------------------------------------------------------------------------|--------|--------|
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   | TABLE                      OF                      CONTENTS                    |   |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |
| ACCOUNTANT'S                      REPORT...................................................................................................................... | 4                                                                                                                                                                                                                       |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |
| FINANCIAL                      STATEMENTS                                                                                                                      |                                                                                                                                                                                                                    |   |   |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |
|                                                                                                                                                           | Balance                      Sheet...............................................................................................................................................                                       | 5      |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |
|                                                                                                                                                           | Statements                      of                      Operations................................................................................................................................                      | 6      |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |
|                                                                                                                                                           | Statements                      of  Stockholders'                      Equity................................................................................................................................ | 7      |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |
|                                                                                                                                                           | Statements                      of Cash                      Flows...............................................................................................................                                       | 8      |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |
|                                                                                                                                                           | Notes                      to the Financial                      Statements.......................................................................................................                                      | 9      |   |
|                                                                                                                                                           |                                                                                                                                                                                                                    |   |   |   |                                                                           |   |   |   |

----

Table              of Contents

| To                      the Board of                      Directors                                                                                                                    |   |   |   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|
| Information                      Systems Associates,                      Inc.                                                                                                         |   |   |   |   |
| 2120                      Danforth                      Circle                                                                                                                         |   |        |   |   |
| Palm                      City, Florida 34990                                                                                                                                     |   |   |   |   |
|                                                                                                                                                                                   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                   |   |   |   |   |   |   |   |   |   |
| I                      have compiled the accompanying                      balance sheet of Information Systems Associates, Inc. as                      of                            |
| March                      31, 2008, and the related                      statements of operations, stockholders' equity, and cash flows                      for                      |
| the                      three months ended March 31,                      2008 and 2007, in accordance with Statements on Standards                      for                          |
| Accounting                      and Review Services                      issued by the American Institute of Certified Public                      Accountants.                        |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |
| A                      compilation is limited to                      presenting in the form of financial statements information                      that is                      the |
| representation                      of management. I                      have not audited or reviewed the accompanying financial                      statements                      |
| and,                      accordingly, do not express                      an opinion or any other form of assurance on them.                                                          |   |
|                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                   |   |   |   |   |   |   |   |   |   |
| /s/William                      L. DeBay, C.P.A.                                                                                                                                       |   |   |   |   |   |   |   |   |   |
| William                      L. DeBay,                      C.P.A.                                                                                                                     |   |   |   |   |
| May                      12,                      2008                                                                                                                                 |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                   |   |   |   |   |   |   |   |   |   |

----

Table              of Contents

| INFORMATION                        SYSTEMS ASSOCIATES,                        INC.BALANCE                          SHEETMARCH                          31,                          2008 |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                     |
| Unaudited                                                                                                                                                                                |
|                                                                                                                                                                                     |   |   |   |   |   |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |
| ASSETS                                                                                                                                                                                   |   | Unaudited |   |   | Audited |   |
|                                                                                                                                                                                     |   | 31-Mar-08 |   |   | 31-Dec-07 |   |
| CURRENT                        ASSETS                                                                                                                                                    |   |   |   |   |   |   |
| Cash                        and cash                        equivalent                                                                                                                   |   | $ | 6,369 |   |   | $ | 13,326 |   |
| Accounts                        receivable                                                                                                                                               |   |   | 183,705 |   |   |   | 114,175 |   |
| Prepaid                        consulting                                                                                                                                                |   |   | 0 |   |   |   | 1,798 |   |
| Income                        tax claims                        receivable                                                                                                               |   |   | 637 |   |   |   | 637 |   |
| Deferred                        income tax                        credit                                                                                                                 |   |   | 36,129 |   |   |   | 37,154 |   |
| Total                        current                        assets                                                                                                                       |   |   | 226,840 |   |   |   | 167,090 |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
| PROPERTY                        AND EQUIPMENT                        (net)                                                                                                               |   |   | 111,773 |   |   |   | 139,360 |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                     |   | $ | 338,613 |   |   | $ | 306,450 |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
| LIABILITIES                        AND STOCKHOLDERS'                        EQUITY                                                                                                       |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
| CURRENT                        LIABILITIES                                                                                                                                               |   |   |   |   |   |   |   |   |
| Note                        payable - line of                        credit                                                                                                              |   | $ | 35,835 |   |   | $ | 9,030 |   |
| Accounts                        payable                                                                                                                                                  |   |   | 87,766 |   |   |   | 88,066 |   |
| Accrued                        payroll                        taxes                                                                                                                      |   |   | 4,459 |   |   |   | 2,476 |   |
| Other                        liabilities                                                                                                                                                 |   |   | 600 |   |   |   | 1,100 |   |
| Total                        current                        liabilities                                                                                                                  |   |   | 128,660 |   |   |   | 100,672 |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
| STOCKHOLDERS'                        EQUITY                                                                                                                                              |   |   |   |   |   |   |   |   |
| Common                        stock - $.001 par value,                        50,000,000 shares                                                                                          |   |   |   |   |   |   |   |   |
| authorized,                        11,403,834 shares                        issued and outstanding                                                                                       |   |   | 11,404 |   |   |   | 11,404 |   |
| Additional                        paid in                        capital                                                                                                                 |   |   | 366,097 |   |   |   | 366,097 |   |
| Retained                        earnings                        (deficit)                                                                                                                |   |   | (167,548 | ) |   |   | (171,723 | ) |
| Total                        stockholders'                        equity                                                                                                                 |   |   | 209,953 |   |   |   | 205,778 |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                     |   | $ | 338,613 |   |   | $ | 306,450 |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
| SEE                      ACCOMPANYING NOTES AND                      ACCOUNTANT'S REPORT.                                                                                                |

----

Table              of Contents

| INFORMATION                      SYSTEMS ASSOCIATES,                      INC.                                                    |
|-----------------------------------------------------------------------------------------------------------------------------------|
| STATEMENTS                      OF                      OPERATIONS                                                                |
| FOR                      THE THREE MONTHS ENDED MARCH                      31, 2008 AND 2007                                      |
|                                                                                                                              |
| Unaudited                                                                                                                         |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   |   |   |   |   | 2008 | 2007 |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
| EARNED                      REVENUES                                                                                              |   |   | $ | 256,265 | $56,218 |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
| OPERATING                      EXPENSES                                                                                           |   |   |   |   |   |
|                                                                                                                              | Administrative                      and                      general |   |   | 92,442 | 26,297 |
|                                                                                                                              | Payroll                      and payroll                      tax |   |   |   | 35,623 | 14,341 |
|                                                                                                                              | Professional |   |   |   |   | 121,202 | 35,005 |
|                                                                                                                              |   | Total                      operating                      expenses |   |   | 249,267 | 75,643 |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
| OPERATING                      INCOME                      (LOSS)                                                                 |   |   | 6,998 | (19,425) |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
| OTHER                      INCOME                      (EXPENSE)                                                                  |   |   |   |   |
|                                                                                                                              | Consulting                      -                      financing |   |   |   | (1,798) | (9,876) |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
| INCOME                      (LOSS)  FROM                      CONTINUING OPERATIONS                                     |   |   |   |   |
|                                                                                                                              | BEFORE                      INCOME TAX                      (CREDIT) |   |   | 5,200 | (29,301) |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
| PROVISION                      FOR INCOME                      TAX  (CREDIT)                                            |   |   | 1,025 | (5,645) |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
| NET                      INCOME                      (LOSS)  FROM  CONTINUING                      OPERATIONS |   |   | 4,175 | (23,656) |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
| DISCONTINUED                      OPERATIONS                                                                                      |   |   |   |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              | INCOME                      (LOSS) FROM OPERATIONS OF                      DISCONTINUED |   |   |   |   |
|                                                                                                                              |   | BUSINESS                      BEFORE INCOME TAX                      (CREDIT) |   |   | 0 | (9,631) |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              | PROVISION                      FOR INCOME TAX                      (CREDIT) |   |   | 0 | (1,855) |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              | NET                      INCOME (LOSS) FROM                      DISCONTINUED OPERATIONS |   |   | 0 | (7,776) |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
| NET                      INCOME                      (LOSS)                                                                       |   |   | $ | 4,175 | ($31,432) |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
| BASICALLY                      AND FULLY                      DILUTED  INCOME (LOSS) PER SHARE                          |   |   |   |   |
|                                                                                                                              | CONTINUING                      OPERATIONS |   | $ | 0 | ($0) |
|                                                                                                                              | DISCONTINUED                      OPERATIONS |   | $ | 0 | ($0) |
|                                                                                                                              | TOTAL                      OPERATIONS |   | $ | 0 | ($0) |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
| WEIGHTED                      AVERAGE SHARES                      OUTSTANDING                                                     |   |   | 11,403,834 | 11,403,834 |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                                                                              |   |   |   |   |   |   |   |   |   |
|  SEE                    ACCOMPANYING NOTES AND                    ACCOUNTANT'S REPORT.                                       |

----

Table              of Contents

|  INFORMATION                      SYSTEMS ASSOCIATES,                      INC.               |
|----------------------------------------------------------------------------------------------------|
|  STATEMENTS                      OF CASH                      FLOWS                           |
|  FOR                      THE THREE MONTHS ENDED MARCH                      31, 2008 AND 2007 |
|                                                                                               |   |
|  Unaudited                                                                                    |
|                                                                                               |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |
|                                                                                               |   |   |   | 2008 | 2007 |
| CASH                      FLOWS FROM OPERATING                      ACTIVITIES                     |   |   |   |
| Net                      income                      (loss)                                        | $ | 4,175 | ($31,432) |
| Adjustments                      to reconcile net                      income (loss) to cash       |   |   |   |
| provided                      (used) by operating                      activities                  |   |   |   |
|                                                                                               | Depreciation                      and                      amortization |   | 11,992 | 481 |
|                                                                                               | Cumulative                      change in deferred                      income tax |   | 1,025 | (7,500) |
|                                                                                               | (Increase)                      decrease in accounts                      receivable |   | (69,530) | 13,272 |
|                                                                                               | (Increase)                      decrease in prepaid                      payroll taxes |   | 0 | (276) |
|                                                                                               | (Increase)                      decrease in prepaid                      consulting |   | 1,798 | 9,876 |
|                                                                                               | Increase                      (decrease) in accounts                      payable |   | (300) | 15,898 |
|                                                                                               | Increase                      (decrease) in accrued                      payroll |   | 0 | (6,041) |
|                                                                                               | Increase                      (decrease) in accrued                      payroll taxes |   | 1,983 | 0 |
|                                                                                               | Increase                      (decrease) in other                      liabilities |   | (500) | 0 |
|                                                                                               |   | Net                      cash provided (used) by                      operating activities |   | (49,357) | (5,722) |
|                                                                                               |   |   |   |   |   |
| CASH                      FLOWS FROM INVESTING                      ACTIVITIES                     |   |   |   |
| Computer                      software development                      costs                      |   | 0 | (30,174) |
| Software                      license agreement -                      payments received           |   | 27,083 | 0 |
| Software                      license agreement -                      marketing costs             |   | (9,020) | 0 |
| Purchase                      of property and                      equipment                       |   | (2,468) | 0 |
|                                                                                               |   | Net                      cash provided (used) by                      investing activities |   | 15,595 | (30,174) |
|                                                                                               |   |   |   |   |   |
| CASH                      FLOWS FROM FINANCING                      ACTIVITIES                     |   |   |   |
| Proceeds                      from note payable - line                      of credit              |   | 28,805 | 0 |
| Payments                      made on note payable -                      line of credit           |   | (2,000) | 0 |
|                                                                                               |   | Net                      cash provided (used) by                      financing activities |   | 26,805 | 0 |
|                                                                                               |   |   |   |   |   |
| NET                      INCREASE (DECREASE) IN                      CASH                          |   | (6,957) | (35,896) |
| CASH,                      BEGINNING OF                      PERIOD                                |   | 13,326 | 178,775 |
| CASH,                      END OF                      PERIOD                                      | $ | 6,369 | $142,879 |
|                                                                                               |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |
|                                                                                               |   |   |   |   |   |
| SEE                      ACCOMPANYING NOTES AND                      ACCOUNTANT'S REPORT.          |

----

Table              of Contents

| INFORMATION                      SYSTEMS ASSOCIATES,                      INC.               |
|----------------------------------------------------------------------------------------------|
| STATEMENTS                      OF STOCKHOLDERS'                      EQUITY                 |
| FOR                      THE THREE MONTHS ENDED MARCH                      31, 2008 AND 2007 |
|                                                                                         |
| Unaudited                                                                                    |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   | Additional |   |   | Retained |   |
|                                                                                         |   | Common                      Stock |   |   | Preferred                      Stock |   |   | Paid-in |   |   | Earnings |   |
|                                                                                         |   | Shares |   |   | Amount |   |   | Shares |   |   | Amount |   |   | Capital |   |   | (Deficit) |   |
| THREE                      MONTHS ENDED MARCH 31,                      2008                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                      December 31,                      2007                         |   |   | 11,403,834 |   |   | $ | 11,404 |   |   |   | 0 |   |   | $ | 0 |   |   | $ | 366,097 |   |   | $ | (171,723 | ) |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                      income (loss                      )                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 4,175 |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                      March 31,                      2008                            |   |   | 11,403,834 |   |   | $ | 11,404 |   |   |   | 0 |   |   | $ | 0 |   |   | $ | 366,097 |   |   | $ | (167,548 | ) |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Additional |   |   | Retained |   |
|                                                                                         |   | Common                      Stock |   |   | Preferred                      Stock |   |   | Paid-in |   |   | Earnings |   |
|                                                                                         |   | Shares |   |   | Amount |   |   | Shares |   |   | Amount |   |   | Capital |   |   | (Deficit) |   |
| THREE                      MONTHS ENDED MARCH 31,                      2007                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                      December 31,                      2006                         |   |   | 11,403,834 |   |   | $ | 11,404 |   |   |   | 0 |   |   | $ | 0 |   |   | $ | 366,097 |   |   | $ | (119,568 | ) |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                      income (loss                      )                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (31,432 | ) |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                      March 31,                      2007                            |   |   | 11,403,834 |   |   | $ | 11,404 |   |   |   | 0 |   |   | $ | 0 |   |   | $ | 366,097 |   |   | $ | (151,000 | ) |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
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| SEE                      ACCOMPANYING NOTES AND                      ACCOUNTANT'S REPORT.    |

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Table              of Contents

| INFORMATION                      SYSTEMS ASSOCIATES,                      INC.                                                                                                                            |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| NOTES                      TO THE FINANCIAL                      STATEMENTS                                                                                                                               |
|                                                 MARCH 31, 2008 and 2007 |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      1 -                      Statement of Significant Accounting Policies                                                                                                           |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (a)                      Business                      Activity                                                                                                                                           |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Information                      Systems Associates, Inc. (Company) was incorporated under the                      laws of                      the                                                      |   |   |
| state                      of Florida                      on May 31, 1994. The Company provides services and software                      system                      design                            |   |   |
| for                      the planning                      and implementation of Computer Aided Facilities Management                      (CAFM)                      based                              |   |   |
| asset                      management                      tools. The Company also provided services through its insurance                      sales                                                     |   |   |
| business                      (discontinued as of March 31, 2007).                                                                                                                                        |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (b)                      Cash and Cash                      Equivalent                                                                                                                                    |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| For                      the purposes                      of the Statement of Cash Flows, the Company considers liquid                      investments                                                  |   |   |
| with                      an original                      maturity of three months or less to be a cash                      equivalent.                                                                 |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (c)                      Management’s                      Use of Estimates                                                                                                                         |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      preparation                      of financial statements in conformity with accounting principles                      generally                                                 |   |   |
| accepted                      in the                      United States of America requires management to make estimates                      and                                                         |   |   |
| assumptions                      that                      affect the reported amounts of assets and liabilities and disclosures                      of                                                  |   |   |
| contingent                      assets                      and liabilities at the date of the financial statements and                      the reported                      amounts                    |   |
| of                      revenues and                      expenses during the reporting period. Actual results could                      differ from                      those                          |   |   |
| estimates.                                                                                                                                                                                                |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (d)                      Revenue                      Recognition                                                                                                                                         |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company                      recognizes revenue in accordance with SEC Staff Accounting                      Bulletin No.                      104,                              |   |   |
| "Revenue                      Recognition" and Emerging Issues Task Force, or EITF, Issue                      No.                      00-21,                                                            |   |   |
| "Revenue                      Arrangements with Multiple Deliverables".                                                                                                                                   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Consulting                      services and training revenues are accounted for separately                      from                      subscription                                                   |   |   |
| and                      support                      revenues when these services have value to the customer on                      a                      standalone                                   |   |   |
| basis                      and there                      is objective and reliable evidence of fair value of each deliverable.                      When                                                 |   |   |
| accounted                      for                      separately, revenues are recognized as the services are rendered                      for                      time                               |   |   |
| and                      material                      contracts, and when the milestones are achieved and accepted                      by                      the                                      |   |   |
| customer                      for                      fixed price contracts.  The majority of our consulting service                      contracts are on                                     |   |   |
| a                      time and                      material basis. Training revenues are recognized after the                      services                      are                                    |   |   |
| performed.                      For                      revenue arrangements with multiple deliverables, we allocate                      the                      total                                 |   |   |
| customer                      arrangement to the separate units of accounting based on their                      relative                      fair                                                      |   |   |
| values,                      as                      determined by the price of the undelivered items when sold                      separately.                                                          |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| In                      determining                      whether the consulting services can be accounted for separately                      from                                                        |   |   |
| subscription                      and                      support revenues, we consider the following factors for each                      consulting                                                   |   |   |
| agreement:                      availability of the consulting services from other vendors,                      whether                      objective                                                   |   |   |
| and                      reliable                      evidence for fair value exists for the undelivered elements,                      the nature of                      the                           |   |   |
| consulting                      services, the timing of when the consulting contract was signed                      in                      comparison                                                   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      1 -                      Statement of Significant Accounting Policies                      (continued)                                                                          |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (d)                      Revenue                      Recognition  (continued)                                                                                                                  |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| to                      the                      subscription service start date, and the contractual dependence                      of the                      subscription                            |   |   |
| service                      on the                      customer's satisfaction with the consulting work. If a                      consulting                                                           |   |   |
| arrangement                      does                      not qualify for separate accounting, we recognize the                      consulting                                                          |   |   |
| revenue                      ratably                      over the remaining term of the subscription contract. Additionally,                      in                      these                          |   |   |
| situations                      we                      defer the direct costs of the consulting arrangement and amortize                      those                                                      |   |   |
| costs                      over the                      same time period as the consulting revenue is recognized. We                      did not                      have                              |   |   |
| any                      revenue                      arrangements with multiple deliverables for the period ending                      December 31,                      2007.                          |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (e)                      Comprehensive                      Income (Loss)                                                                                                                                 |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company                      adopted Financial Accounting Board Statement of Financial                      Accounting                                                           |   |   |
| Standards                      (SFAS)                      No. 130, "Reporting Comprehensive Income”, which establishes standards                      for                                          |   |
| the                      reporting and                      display of comprehensive income and its components in the                      financial                                                      |   |   |
| statements.                      There                      were no items of comprehensive income (loss) applicable to                      the                      Company                              |   |   |
| during                      periods                      covered in the financial statements.                                                                                                             |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (f)                      Income                      Taxes                                                                                                                                                |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Income                      taxes are                      provided in accordance with Statement of Financial Accounting                      Standards                                                   |   |   |
| (SFAS)                      No. 109,                      "Accounting for Income Taxes". A deferred tax asset or liability                      is                      recorded for                      |   |   |
| all                      temporary                      differences between financial and tax and net operating loss                      carry                      forwards.                            |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Deferred                      tax                      assets are reduced by a valuation allowance when, in the opinion                      of                      management,                          |   |   |
| it                      is more likely                      than not that some portion or the entire deferred tax asset                      will not be                      realized.                   |   |   |
| Deferred                      tax                      assets and liabilities are adjusted for the effect of changes                      in tax laws                      and rates on                   |   |   |
| the                      date of                      enactment.                                                                                                                                          |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (g)                      Fair Value of                      Financial Instruments                                                                                                                         |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      carrying                      amounts reported in the balance sheet for cash, accounts receivable                      and                      payables                         |   |   |
| and                      loans payable                      approximate fair value based on the short-term maturity of                      these                      instruments.                       |   |   |
| The                      carrying                      value of the Company’s long-term debt approximated its fair value based on                      the                                          |   |   |
| current                      market                      conditions for similar debt instruments.                                                                                                         |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (h)                      Accounts                      Receivable                                                                                                                                         |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Accounts                      receivable are stated at estimated net realizable value. Accounts                      receivable are                                                                       |   |   |
| comprised                      of                      balances due from customers net of estimated allowances for                      uncollectible                                                     |   |   |
| accounts.                      In                      determining the collections on the account, historical trends                      are                      evaluated and                          |   |   |
| specific                      customer                      issues are reviewed to arrive at appropriate                      allowances.                                                                 |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      1 -                      Statement of Significant Accounting Policies                      (continued)                                                                          |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (i)                      Property and                      Equipment                                                                                                                                      |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Property                      and                      equipment is stated at cost. Depreciation is provided by the                      straight-line                      method                        |   |   |
| over                      the                      estimated economic life of the property and equipment (three                      to ten                      years). When                             |   |   |
| assets                      are sold                      or retired, their costs and accumulated deprecation are eliminated                      from                      the                           |   |   |
| accounts                      and any                      gain or loss resulting from their disposal is included in the                      statement                      of                           |   |   |
| operations.                                                                                                                                                                                               |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company                      recognizes an impairment loss on property and equipment when                      evidence,                      such                               |   |   |
| as                      the sum of                      expected future cash flows (undiscounted and without interest                      charges),                      indicates                       |   |   |
| that                      future                      operations will not produce sufficient revenue to cover the                      related future                      costs,                         |   |   |
| including                      depreciation, and when the carrying amount of the asset cannot                      be realized                      through                                               |   |   |
| sale.                      Measurement                      of the impairment loss is based on the fair value of the                      assets.                                                         |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (j)                      Impairment of                      Long-Lived Assets                                                                                                                             |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company                      evaluated the recoverability of its property, equipment, and                      other assets                      in                              |   |   |
| accordance                      with                      Statements of Financial Accounting Standards (SFAS) No. 144,                      “Accounting                                             |   |   |
| for                      the                      Impairment or Disposal of Long-Lived Assets”, which requires recognition                      of                                                  |   |   |
| impairment                      of                      long-lived assets in the event the net book value of such assets                      exceeds                      the                            |   |   |
| estimated                      future                      undiscounted cash flows attributable to such assets or the                      business to                      which                         |   |   |
| such                      intangible                      assets relate.                                                                                                                                  |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (k)                      Software                      Development Costs                                                                                                                                  |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company                      accounts for costs incurred to develop computer software for                      internal use                      in                              |   |   |
| accordance                      with                      Statement of Position (SOP) 98-1, "Accounting for the Costs                      of                      Computer                               |   |   |
| Software                      Developed or Obtained for Internal Use". As required by SOP                      98-1, the                      Company                                                     |   |   |
| capitalizes                      the                      costs incurred during the application development stage, which                      include                      costs to                       |   |   |
| design                      the                      software configuration and interfaces, coding, installation,                      and testing.                      Costs incurred                   |   |
| during                      the                      preliminary project along with post-implementation stages of                      internal use                      computer                         |   |   |
| software                      are                      expensed as incurred. Capitalized development costs are amortized                      over                      a                                 |   |   |
| period                      of three                      years. Costs incurred to maintain existing product offerings                      are expensed                      as                          |   |   |
| incurred.                      The                      capitalization and ongoing assessment of recoverability of                      development                      costs                            |   |   |
| requires                      considerable judgment by management with respect to certain                      external                      factors,                                                     |   |   |
| including,                      but                      not limited to, technological and economic feasibility, and                      estimated                      economic life.                   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| After                      the                      development of the internal-use "On Site Physical Inventory                      " software                      (OSPI) was                           |   |   |
| complete,                      the                      Company decided to market the software. Proceeds from the licenses                      of                      the                               |   |   |
| computer                      software, net of direct incremental costs of marketing, such                      as                      commissions,                                                      |   |   |
| software                      reproduction costs, warranty and service obligations, and installation                      costs, are                                                                      |   |   |
| applied                      against                      the carrying cost of that software. No profit will be recognized                      until                      aggregate                      |   |   |
| net                      proceeds from                      licenses and amortization have reduced the carrying amount                      of                      the                                   |   |   |
| software                      to zero.                      Subsequent proceeds will be recognized in revenue as                      earned.                                                             |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      1 -                      Statement of Significant Accounting Policies                      (continued)                                                                          |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (l)                      Share-Based                      Payments                                                                                                                                        |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| In                      December 2004,                      the Financial Accounting Standards Board (FASB) issued                      SFAS                                                              |   |   |
| No.                      123 (R),                      “Share-Based Payments”, which establishes standards for transactions in                      which                                     |   |   |
| an                      entity                      exchanges its equity instruments for goods and services. This                      standard                      replaces SFAS                        |   |   |
| No.                      123 and                      supersedes Accounting Principles Board (APB) Opinion No. 25,                      "Accounting                                                       |   |   |
| for                      Stock-Based                      Compensation”. This standard requires a public entity to measure the                      cost                                            |   |   |
| of                      employee                      services using an option-pricing model, such as the Black-Scholes                      Model,                      received                         |   |
| in                      exchange for                      an award of equity instruments based on the grant-date fair                      value of the                      award.                       |   |   |
| This                      eliminates                      the exception to account for such awards using the intrinsic                      method                      previously                        |   |   |
| allowable                      under                      APB No. 25. Shares of common stock issued for services rendered                      by a                      third                            |   |   |
| party                      are                      recorded at the fair market value of the shares issued or services                      rendered, whichever                                           |   |   |
| is                      more readily                      determinable. The shares are valued using the most recent private                      sale of                      stock                       |   |   |
| since                      the Company                      is not traded on a public market. The Company adopted this                      standard                      during                          |   |   |
| year                      ended                      December 31, 2006 using the modified prospective                      method.                                                                        |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (m)                      Dividends                                                                                                                                                                        |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company has                      not yet adopted any policy regarding payment of                      dividends.  No                                                   |   |   |
| dividends                      have                      been paid or declared since inception.                                                                                                           |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (n)                      Advertising                      Expenses                                                                                                                                        |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Advertising                      costs                      are expensed as incurred.  For the three months ended March,                      2008                                              |   |   |
| and                      2007, no                      advertising costs were incurred.                                                                                                                   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (o)                      Earnings                      (Loss) Per Share                                                                                                                                   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company                      reports earnings (loss) per share in accordance with Statement                      of                                                              |   |   |
| Financial                      Accounting Standard (SFAS) No.128. This statement requires                      dual                                                                                       |   |   |
| presentation                      of                      basic and diluted earnings (loss) with a reconciliation of                      the                      numerator                              |   |   |
| and                      denominator                      of the loss per share computations. Basic earnings per                      share                                                               |   |   |
| amounts                      are based                      on the weighted average shares of common outstanding.                      If                                                                 |   |   |
| applicable,                      diluted earnings per share assume the conversion, exercise                      or issuance                      of                                                      |   |   |
| all                      common stock                      instruments such as options, warrants and convertible                      securities,                                                         |   |   |
| unless                      the effect                      is to reduce a loss or increase earnings per share. Accordingly,                      this                                                    |   |   |
| presentation                      has                      been adopted for the periods presented. There were no                      adjustments                                                         |   |   |
| required                      to net                      income for the period presented in the computation of diluted                      earnings                                                     |   |   |
| per                      share. There                      were no common stock equivalents (CSE) necessary for                      the                                                                  |   |   |
| computation                      of                      diluted loss per share.                                                                                                                          |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      1 -                      Statement of Significant Accounting Policies                      (continued)                                                                          |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (p)                      Recent                      Accounting Pronouncements                                                                                                                            |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| In                      December 2007,                      the FASB issued two new statements: (a) SFAS No. 141                      (revised                                                            |   |   |
| 2007),                      Business                      Combinations, and (b) No. 160, Noncontrolling Interests                      in                                                                 |   |   |
| Consolidated                      Financial Statements.  These statements are effective for fiscal                      years                                                                   |   |   |
| beginning                      after                      December 15, 2008, and the application of these standards                      will                                                             |   |   |
| improve,                      simplify                      and converge internationally the accounting                      for                                                                          |   |   |   |
| business                      combinations and the reporting of noncontrolling interests                      in                      consolidated                                                        |   |   |
| financial                      statements.  The Company is in the process of evaluating the                      impact, if any,                                                                |   |   |
| of                      SFAS 141 (R)                      and SFAS 160 and does not anticipate that the adoption of                      these                                                            |   |   |
| standards                      will                      have any impact on its financial statements.                                                                                                     |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (a)  SFAS                      No. 141 (R) requires an acquiring entity in a business combination                      to:                      (i)                                             |   |   |
| recognize                      all                      (and only) the assets acquired and the liabilities assumed                      in                      the                                       |   |   |
| transaction,                      (ii)                      establish an acquisition-date fair value as the measurement                      objective                                                    |   |   |
| for                      all assets                      acquired and the liabilities assumed, (iii) disclose to investors                      and                                                       |   |   |
| other                      users all                      of the information they will need to evaluate and understand                      the                      nature                               |   |   |
| of,                      and the                      financial effect of, the business combination, and (iv) recognize                      and                                                          |   |   |
| measure                      the                      goodwill acquired in the business combination or a gain from                      a                      bargain                                    |   |   |
| purchase.                                                                                                                                                                                                 |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| (b)                      SFAS No. 160                      will improve the relevance, comparability and transparency                      of                                                             |   |   |
| financial                      information provided to investors by requiring all entities                      to: (i)                      report                                                       |   |   |
| noncontrolling                      (minority) interests in subsidiaries in the same manner as                      equity                      but                                                       |   |   |
| separate                      from the                      parent's equity in consolidated financial statements, (ii)                      net                                                           |   |   |
| income                      attributable to the parent and to the non-controlling interest                      must be                      clearly                                                      |   |   |
| identified                      and                      presented on the face of the consolidated statement of income,                      and                      (iii)                               |   |   |
| any                      changes in                      the parent's ownership interest while the parent retains the                      controlling                                                    |   |   |
| financial                      interest in its subsidiary be accounted for                      consistently.                                                                                             |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| In                      March 2008,                      the FASB issued SFAS No. 161, "Disclosures about                      Derivative                                                                 |   |   |
| Instruments                      and                      Hedging Activities, an amendment of FASB Statement No.                      133"                                                                |   |   |
| ("SFAS                      161").                      This new standard requires enhanced disclosures for                      derivative                                                               |   |   |
| instruments,                      including those used in hedging activities. It is effective                      for fiscal                      years                                                  |   |   |
| and                      interim                      periods beginning after November 15, 2008, and will be applicable                      to                      the                                  |   |   |
| Company                      in the                      first quarter of fiscal 2009. The Company is currently evaluating                      the                                                       |   |   |
| impact                      of this                      statement and does not anticipate that it will have an impact                      on                      the                                   |   |   |
| Company's                      financial position or results of operations.                                                                                                                               |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      2- Cash and                      Cash Equivalent                                                                                                                                |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   | 2008 | 2007 |
|                                                                                                                                                                                                      | Wachovia                      Bank                      (FDIC insured to $100,000.00) |   |   | $6,369 | $142,879 |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      3 - Property                      and Equipment                                                                                                                                 |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   | 2008 | 2007 |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Computer                      software                      (developed for internal use)                                                                                                                  |   |   | $119,726 | $0 |
| Computer                      software                      (purchased)                                                                                                                                   |   |   | 1,307 | 1,307 |
| Furniture,                      fixtures, and equipment                                                                                                                                                   |   |   | 27,166 | 16,750 |
|                                                                                                                                                                                                      |   |   |   |   |   |   | 148,199 | 18,057 |
| Less                      accumulated                      depreciation and amortization                                                                                                                  |   |   | 36,426 | 11,402 |
|                                                                                                                                                                                                      |   |   |   |   |   |   | $111,773 | $6,655 |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Depreciation                      and                      amortization expense                                                                                                                           |   |   | $13,513 | $481 |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      4 - Computer                      Software Developed for Internal Use                                                                                                           |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| During                      the year                      ended December 31, 2007, the Company completed the                      development                                                             |   |   |
| of                      the of the                      internal-use software, "On Site Physical Inventory" (OSPI).                      The OSPI                      software                           |   |   |
| was                      developed to                      be used by the Company for collecting data for information                      technology                                                     |   |   |
| assets                      installed                      in data centers. The Company began using the OSPI software                      in                                                             |   |   |
| October                      2007                      while providing consultation services for managing the                      physical                                                               |   |   |
| infrastructure                      of                      data centers.                                                                                                                                 |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| After                      implementing the use of the OSPI software,  the Company decided                      to market the                                                                   |   |   |
| software                      and  entered into a software license agreement with Aperture                      Technologies, Inc.                                                              |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company has                      capitalized the cost of the OSPI software using Statement                      of                                                               |   |   |
| Position                      (SOP)                      98-1, "Accounting for the Costs of Computer Software Developed                      or                                                           |   |   |
| Obtained                      for                      Internal Use" as follows:                                                                                                                          |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   | 2008 | 2007 |
| Development                      costs                                                                                                                                                                    |   |   |   | $139,900 | $74,237 |
| Software                      license                      agreement - payments received                                                                                                                  |   |   | (40,625) | 0 |
| Software                      license                      agreement - marketing costs                                                                                                                    |   |   | 20,451 | 0 |
|                                                                                                                                                                                                      |   |   |   |   |   |   | 119,726 | 74,237 |
| Less                      accumulated                      depreciation and amortization                                                                                                                  |   |   | 22,735 | 0 |
|                                                                                                                                                                                                      |   |   |   |   |   |   | $96,991 | $74,237 |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      5                      -  Note Payable                                                                                                                                |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company has a                      line of credit with Wachovia Bank NA.  The line of credit                      provides                                             |   |   |
| for                      borrowing up                      to $40,000.  The balance as of March 31, 2008 is                      $35,835.  The                                        |   |   |
| interest                      rate is                      Prime Rate plus 3%.  The President is a personal guarantor on                      the line                                          |   |   |
| of                      credit.                                                                                                                                                                           |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      6 - Income                      Taxes                                                                                                                                           |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   | 2008 | 2007 |
| Provision                      for                      income tax (credit) consists of:                                                                                                                  |   |   |   |   |
|                                                                                                                                                                                                      | Current                      accrual |   |   |   | $0 | $0 |
|                                                                                                                                                                                                      | Cumulative                      change                      in deferred income tax |   |   | 1,025 | (7,500) |
|                                                                                                                                                                                                      |   |   |   |   |   |   | $1,025 | ($7,500) |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Income                      tax                      receivable consists of the following:                                                                                                                |   |   |   |   |
|                                                                                                                                                                                                      | Federal                      claim for                      refund |   |   | $637 |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company had                      the following net operating loss carryovers                                                                                                     |   |   |   |   |
| for                      income tax                      purposes:                                                                                                                                        |   |   |   |   |
|                                                                                                                                                                                                      |   | Expiring                      2020 |   |   | $204 |   |
|                                                                                                                                                                                                      |   | Expiring                      2021 |   |   | 82,899 |   |
|                                                                                                                                                                                                      |   | Expiring                      2022 |   |   | 133,233 |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   | $216,336 |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      7 -                      Supplemental Cash Flow Information                                                                                                                     |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Supplemental                      disclosures of cash flow information for the periods ended                      December 31,                      2007 and                                              |   |
| 2006                      is                      summarized as follows:                                                                                                                                  |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   | 2008 | 2007 |
| Cash                      paid during                      the periods for interest and income taxes:                                                                                                     |   |   |   |   |
|                                                                                                                                                                                                      | Income                      taxes |   |   |   | $0 | $0 |
|                                                                                                                                                                                                      | Interest |   |   |   |   | $458 | $311 |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      8 -                      Operating Lease                                                                                                                                        |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company                      leases its Palm City Florida facility.  The lease requires                      monthly                                                   |   |   |
| payments                      of                      $1,400.   The lease commenced on June 1, 2007 and expires                      on May 31,                                            |   |   |
| 2008.                                                                                                                                                                                                     |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      following is                      a schedule of the lease payments by year under the                      lease:                                                                 |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      | 2008 |   |   |   |   |   | $7,000 |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      9 - Employee                      Benefits                                                                                                                                      |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company has a                      SIMPLE Plan (Plan) to provide retirement and incidental benefits                      for                                                     |   |   |
| its                      employees.                      Employees may contribute from 1% to 15% of their annual compensation                      to                      the                            |   |   |
| Plan,                      limited to                      a maximum annual amount as set periodically by the Internal                      Revenue                      Service.                         |   |   |
| The                      Company                      matches employee contributions dollar for dollar up to the                      IRS maximum.                      All                               |   |   |
| matching                      contributions vest immediately. Such contributions to the Plan                      are                      allocated among                                                |   |   |
| eligible                      participants in the proportion of their salaries to the total                      salaries of                      all participants.                                       |   |   |
| Company                      matching                      contributions to the Plan for the periods ended March 31, 2008                      and                      2007                              |   |   |
| totaled                      $900 and                      $750.                                                                                                                                          |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| The                      Company has a                      medical reimbursement plan that reimburses officers for all                      out of                      pocket                           |   |   |
| medical                      expenses                      not covered by the Company provided insurance plan. Company                      expenses                                                      |   |   |
| under                      the medical                      reimbursement plan for the periods ended March 31, 2008 and                      2007                      totaled                            |   |   |
| $7,077                      and                      $7,610.                                                                                                                                              |   |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| Note                      10                      -  Discontinued Operation                                                                                                                     |   |   |   |   |
|                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |
| On                      April 1, 2007,                      the Company decided to cease its insurance business due                      to                                                               |   |   |
| decreasing                      sales                      and a change in corporate strategy.  Sales for the                      insurance                                                    |   |   |
| business                      for the                      three months ended March 31, 2007 were $10,251. The                      insurance                                                             |   |   |
| business                      pretax                      loss reported in discontinued operations for the three months                      ended                                                        |   |   |
| March                      31, 2007                      was $9,631.  No assets or liabilities existed for the                      business.                                                   |   |   |

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Table              of Contents

RATION

----

Table              of Contents

| –   | Improve                    impact analysis, minimize errors and reduce staff requirements                    associated                    with changes |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

| –   | Enable                    proactive infrastructure capacity                    planning |
|---------------------|-----------------------------------------------------------------------------------------|

| –   | Facilitate                    the planning and execution of consolidation or relocation                    projects |
|---------------------|---------------------------------------------------------------------------------------------------------------------|

| –   | Provide                    alerts for key performance indicators and threshold                    conditions |
|---------------------|--------------------------------------------------------------------------------------------------------------|

| –   | Enforce                    adherence to redundancy requirements and design guidelines to                    ensure                    availability and business                    continuity |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| –   | Reduce                    mean-time-to-repair for outages |
|---------------------|-----------------------------------------------------------|

| –   | Ensure                    compliance with standard or regulated                    processes |
|---------------------|----------------------------------------------------------------------------------------------|

| –   | Speed                    time-to-market for new application                    deployments |
|---------------------|--------------------------------------------------------------------------------------------|

| –   | All                    devices, including Mainframe, Open System and Network                    devices. |
|---------------------|----------------------------------------------------------------------------------------------------------|

| –   | Internal                    device features, control units, logical                    partitioning. |
|---------------------|------------------------------------------------------------------------------------------------------|

| –   | All                    device ports, CHPIDs, interface. |
|---------------------|---------------------------------------------------------|

| –   | Warranty,                    install/de-install dates, contract and leasing                    information. |
|---------------------|-------------------------------------------------------------------------------------------------------------|

| –   | All                    fiber cables including ESCON, FICON, Fiber Channel, FDDI,                    etc. |
|---------------------|----------------------------------------------------------------------------------------------------------|

| –   | All                    copper cables including Bus & Tag, SCSI, CAT5, Coax,                    etc. |
|---------------------|---------------------------------------------------------------------------------------------------------|

| –   | All                    physical connectivity between devices and internal connectivity                    through                    switching equipment. |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| –   | All                    power equipment and connectivity. |
|---------------------|----------------------------------------------------------|

| –   | Device                    racks. |
|---------------------|----------------------------------|

| –   | Copper                    and fiber patch panels and                    cabinets. |
|---------------------|-----------------------------------------------------------------------------------|

| –   | SAN                    Fabric definition including aliases, zone sets and zone                    members. |
|---------------------|------------------------------------------------------------------------------------------------------------|

| –   | All                    asset and connectivity data defined once with multiple physical/logical                    displays of the data from different physical/logical                    viewpoints. |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| –   | Able                    to link an asset to external documents such as Word documents,                    CAD                    drawings, spreadsheets, etc. |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| –   | Track                    equipment, furniture and telecom assets in use and in                    inventory. |
|---------------------|--------------------------------------------------------------------------------------------------------------|

| –   | Assign                    assets to locations, employees and cost                    centers. |
|---------------------|-----------------------------------------------------------------------------------------------|

| –   | Report                    on condition, depreciation, warranties and maintenance                    histories. |
|---------------------|----------------------------------------------------------------------------------------------------------------|

| –   | Inventory                    analysis, including leased vs. owned                    assets. |
|---------------------|----------------------------------------------------------------------------------------------|

| –   | Track                    assets as individual components or create an asset made up of                    many                    individual components by recording a bill-of-materials (i.e.                    workstation). |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| –   | Establish                    product standards. |
|---------------------|-------------------------------------------------|

| –   | Create                    purchase orders and track cost, approval and                    supplier. |
|---------------------|-----------------------------------------------------------------------------------------------------|

| –   | Receive                    goods and specify installed                    location. |
|---------------------|-------------------------------------------------------------------------------------|

| –   | Track                    warranties, insurance policies and asset leases, including duration                    and                    payments. |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------|

| –   | Create                    multiple stock locations including non-fixed locations such as                    maintenance                    trucks. |
|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

| –   | Track                    parts in stock, establish recommended stock levels and reorder                    parts for                    stock. Work orders reserve and use parts in                    stock. |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| –   | Track                    the lifecycle of assets from purchase, to relocation to                    disposition. |
|---------------------|------------------------------------------------------------------------------------------------------------------|

| –   | Report                    on assets by location, department and                    employee. |
|---------------------|----------------------------------------------------------------------------------------------|

| –   | Review                    expiring insurance policies, warranties and                    leases. |
|---------------------|--------------------------------------------------------------------------------------------------|

| –   | Review                    an assets maintenance history including on-demand and preventative                    maintenance work. |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------|

| –   | Manage                    parts inventories including allocated parts and                    reordering. |
|---------------------|----------------------------------------------------------------------------------------------------------|

| –   | Compare                    actual furniture to typical furniture by room                    type. |
|---------------------|---------------------------------------------------------------------------------------------------|

| –   | Keep                    asset locations up to date in AutoCAD drawings or by issuing                    move                    orders. |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------|

| §   | Graphical                    Design & Modeling of Datacenters                  |
|--------------------|------------------------------------------------------------------------------------|
| §   | Auto-Build                    Visual Documentation From Imported Bill of Materials |
| §   | Advanced                    Operations & Reporting                             |
| §   | Modeling                    and Impact Analysis of Datacenter Designs              |
| §   | Space,                    Power, Cooling, and Cable Management                     |
| §   | Generate                    Detailed Datacenter and Rack Visualizations            |
| §   | Ensure                    Racks and the Datacenter are Within Design Limits        |
| §   | Instantly                    Find Available Datacenter Resources                   |

| §   | Improve                    Utilization of Power and Space                              |
|--------------------|----------------------------------------------------------------------------------------|
| §   | Import,                    & Document the Datacenter in                    Minutes |

----

Table              of Contents

| 1.   | Updated                    and customized data entry forms included in the standard VisionFM                    product |
|----------------|-------------------------------------------------------------------------------------------------------------------------|
| 2.   | Added                    new forms and workflow processes                                                               |

| 3.   | Created                    a training video whose target audience is the end user submitting                    Work                    Orders and Move Requests |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.   | Other                    minor modifications to the VisionFM                    solution.                                                                        |

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Table              of Contents

|  | • | Enterprise                    asset management - related solutions -Visual Network Design,                    Inc.,                    ShowRack, NLyte, Visio) |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  | • | Facilities                    Management - related solutions -                    Archibus)                                                                    |

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Table              of Contents

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Table              of Contents

| DISCLOSURE                    CONTROLS AND                    PROCEDURES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Our                    management, including our Principal Executive Officer and Principal                    Financial Officer, has evaluated the design, operation, and effectiveness                    of our disclosure controls and procedures pursuant to Rule 13a-15                    under                    the Securities Exchange Act of 1934 (the “Exchange Act”). There are                    inherent limitations to the effectiveness of any system of disclosure                    controls and procedures, including the possibility of human error                    and the                    circumvention or overriding of the controls and procedures. Accordingly,                    even effective disclosure controls and procedures can only provide                    reasonable assurance of achieving their control objectives. Based                    upon the                    evaluation performed by our management, including its Principal                    Executive                    Officer and Principal Financial Officer, it was determined that,                    as of the                    end of the period covered by this quarterly report, our disclosure                    controls and procedures were effective to provide reasonable                    assurance                    that information required to be disclosed in the reports filed                    or                    submitted pursuant to the Exchange Act is recorded, processed,                    summarized,                    and reported within the time periods specified in the rules and                    forms of                    the SEC, and that such information is accumulated and communicated                    to our                    management, including its Principal Executive Officer and Principal                    Financial Officer, or persons performing similar functions, as                    appropriate                    to allow timely decisions regarding disclosures |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |

EEDINGS

MATION

ON FORM 8-K

| (1)   | Exhibits:                    Exhibits required to be attached                    by Item 601 of Regulation S-B are listed in the Index to Exhibits                    beginning on page 8 of this Form 10-Q, which is incorporated                    herein by                    reference. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (1)   | None.  |
|-----------------|--------|
|            |   |

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Table              of Contents

NATURES

|                                       |                                                |                                                               |
|---------------------------------------|------------------------------------------------|---------------------------------------------------------------|
|                                       |                                           |
|                                       |                                                | Information                    Systems Associates, Inc.  |
| Date:                    May 15, 2008 | By:                                  | /s/ Joseph                    P. Coschera                |
|                                       | Joseph                    P. CoscheraPresident |

----

XHIBITS

| Exhibit                    No. |   | Description                                                                                                                                          |
|--------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1                           |        | Certification                    of Chief Executive Officer and Chief                    Financial Officer                                                |
|                                |        |                                                                                                                                                           |
| 32.1                           |        | Statement                    required by 18 U.S.C. Section 1350, as adopted                    pursuant to section 906 of the Sarbanes-Oxley Act of 2002. |