**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

**FORM      10-Q**

**SECURE      AMERICA ACQUISITION CORPORATION**

| Delaware                                                                                    |   | 26-0188408                                                        |
|---------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|
| (State                or other Jurisdiction ofIncorporation                or Organization) |   | (I.R.S.                EmployerIdentification                No.) |

| Large                Accelerated Filer  o                                                                                 |                                       | Accelerated Filer  o |
|-------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------|-------------------------------------|
|                                                                                                                                |                                       |                                |
| Non-Accelerated Filer  o (Do not check if a smaller reporting company)  | Smaller reporting company x |

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**SECURE      AMERICA ACQUISITION CORPORATION**

**INDEX      TO FORM 10-Q**

|                        |                                                                                                                                                                                                                                                                                                                                                                                             | **PAGE** |
|-----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| **PART                I.**  | **FINANCIAL                INFORMATION**                                                                                                                                                                                                                                                                                                                                                         |     |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| Item                1.      | Financial                Statements                                                                                                                                                                                                                                                                                                                                                              | 1        |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
|                        | Condensed                Balance Sheet as of September 30, 2008 (unaudited) and as of December                31,                2007                                                                                                                                                                                                                                                            | 1        |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
|                        | Condensed                Statement of Operations (unaudited) for the three months ended September                30, 2008 and 2007, the nine months ended September 30, 2008, the                period                from May 14, 2007 (date of inception) to September 30, 2007, and                for the                period from May 14, 2007 (date of inception) to September 30, 2008 | 2        |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
|                        | Condensed                Statement of Stockholders’ Equity for the period from May 14, 2007 (date                of inception) to September 30, 2008 (unaudited)                                                                                                                                                                                                                           | 3        |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
|                        | Condensed                Statement of Cash Flows (unaudited) for the nine months ended September                30, 2008, the period from May 14, 2007 (date of inception) to September                30, 2007, and for the period from May 14, 2007 (date of inception)                to                September 30, 2008                                                                    | 4        |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
|                        | Notes                to Condensed Financial Statements                                                                                                                                                                                                                                                                                                                                           | 5        |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| Item                2.      | Management’s                Discussion and Analysis of Financial Condition and Results of                Operations                                                                                                                                                                                                                                                                        | 12       |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| Item                3.      | Quantitative                and Qualitative Disclosures About Market Risk                                                                                                                                                                                                                                                                                                                        | 15       |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| Item                4T.     | Controls                and Procedures                                                                                                                                                                                                                                                                                                                                                           | 15       |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| **PART                II.** | **OTHER                INFORMATION**                                                                                                                                                                                                                                                                                                                                                             |     |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| Item                1.      | Legal                Proceedings                                                                                                                                                                                                                                                                                                                                                                 | 16       |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| Item                1A.     | Risk                Factors                                                                                                                                                                                                                                                                                                                                                                      | 16       |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| Item                2.      | Unregistered                Sales of Equity Securities and Use of Proceeds                                                                                                                                                                                                                                                                                                                       | 16       |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| Item                3.      | Defaults                Upon Senior Securities                                                                                                                                                                                                                                                                                                                                                   | 16       |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| Item                4.      | Submission                of Matters to a Vote of Security Holders                                                                                                                                                                                                                                                                                                                               | 16       |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| Item                5.      | Other                Information                                                                                                                                                                                                                                                                                                                                                                 | 16       |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| Item                6.      | Exhibits                                                                                                                                                                                                                                                                                                                                                                                         | 16       |
|                        |                                                                                                                                                                                                                                                                                                                                                                                             |     |
| **SIGNATURES**              | 17                                                                                                                                                                                                                                                                                                                                                                                               |

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**PART      I - FIN****ANCIAL      INFORMATION**

**Item      1. Financial Statements**

**SECURE      AMERICA ACQUISITION CORPORATION **

**(a      Corporation in the Development Stage)**

**CONDENSED      BALANCE SHEET**

|                                                                                                                                                                                                                           |   | **September 30, 2008****(unaudited)** |       | **December 31, 2007** |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------|------------|---------------------------------|--------|
|                                                                                                                                                                                                                           |   |                                            |       |                            |   |
| **Assets**                                                                                                                                                                                                                     |   |                                            |       |                            |   |
| Current                assets:                                                                                                                                                                                                 |   |                                            |       |                            |   |
| Cash                                                                                                                                                                                                                           |   | $                                               | 124,073    |                            | $      | 6,867 |   |
| Investments                held in Trust Fund                                                                                                                                                                                  |   |                                            | 79,451,718 |                            |   | 79,466,371 |   |
| Prepaid                expenses                                                                                                                                                                                                |   |                                            | 38,765     |                            |   | 95,015 |   |
| Prepaid                income tax                                                                                                                                                                                              |   |                                            | 5,870      |                            |   | - |   |
| Total                current assets                                                                                                                                                                                            |   |                                            | 79,620,426 |                            |   | 79,568,253 |   |
| Deferred                acquisition costs                                                                                                                                                                                      |   |                                            | 100,000    |                            |   | - |   |
| Deferred                tax asset                                                                                                                                                                                              |   |                                            | 114,354    |                            |   | 26,058 |   |
| **Total                assets**                                                                                                                                                                                                |   | $                                               | 79,834,780 |                            | $      | 79,594,311 |   |
|                                                                                                                                                                                                                           |   |                                            |       |                            |   |   |   |
| **Liabilities                and Stockholders’ Equity**                                                                                                                                                                  |   |                                            |       |                            |   |   |   |
| Current                liabilities:                                                                                                                                                                                            |   |                                            |       |                            |   |   |   |
| Accrued                expenses                                                                                                                                                                                                |   | $                                               | 102,571    |                            | $      | 47,274 |   |
| Accounts                payable                                                                                                                                                                                                |   |                                            | 6,047      |                            |   | 33,005 |   |
| Income                taxes payable                                                                                                                                                                                            |   |                                            | -          |                            |   | 198,382 |   |
| Deferred                underwriters’ discounts and commissions                                                                                                                                                          |   |                                            | 3,200,000  |                            |   | 3,200,000 |   |
| Note                payable to stockholder                                                                                                                                                                                     |   |                                            | -          |                            |   | 50,000 |   |
| Total                current liabilities                                                                                                                                                                                       |   |                                            | 3,308,618  |                            |   | 3,528,661 |   |
|                                                                                                                                                                                                                           |   |                                            |       |                            |   |   |   |
| Common                stock subject to possible conversion,2,999,999                shares at conversion value                                                                                                                 |   |                                            | 22,799,992 |                            |   | 22,799,992 |   |
|                                                                                                                                                                                                                           |   |                                            |       |                            |   |   |   |
| **Commitments**                                                                                                                                                                                                                |   |                                            |       |                            |   |   |   |
|                                                                                                                                                                                                                           |   |                                            |       |                            |   |   |   |
| **Stockholders'                equity**                                                                                                                                                                                        |   |                                            |       |                            |   |   |   |
| Preferred                stock, $.0001 par value, Authorized 1,000,000 shares; none issued                and                outstanding                                                                                       |   |                                            | -          |                            |   | - |   |
| Common                stock, $.0001 par value, Authorized 50,000,000 shares; 12,500,000                shares                issued and outstanding (including 2,999,999 shares subject to possible                conversion) |   |                                            | 1,250      |                            |   | 1,                250 |   |
| Additional                paid-in capital                                                                                                                                                                                      |   |                                            | 52,985,665 |                            |   | 52,985,665 |   |
| Income                accumulated during the development stage                                                                                                                                                                 |   |                                            | 739,255    |                            |   | 278,743 |   |
| **Total                stockholders' equity**                                                                                                                                                                                  |   |                                            | 53,726,170 |                            |   | 53,265,658 |   |
| **Total                liabilities and stockholders' equity**                                                                                                                                                                  |   | $                                               | 79,834,780 |                            | $      | 79,594,311 |   |

*See      Notes to Unaudited Condensed Financial Statements.*

----

**SECURE      AMERICA ACQUISITION CORPORATION **

**(a      Corporation in the Development Stage)**

**CONDENSED      STATEMENT OF OPERATIONS**

**(unaudited)**

|                                                                                                        |   | **For the Three****Months Ended****September 30,****2008** |       | **For the Three****Months Ended****September 30,****2007** |   | **For the Nine****Months Ended****September 30,****2008** |   | **For the Period****May 14, 2007****(inception) to ****September 30,****2007** |       | **For the Period****May 14, 2007****(inception) to ****September 30,****2008** |   |
|-------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------|------------|--------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------|------------|-------------------------------------------------------------------------------------------------------------------|--------|
| Income:                                                                                                     |   |                                                                           |       |                                                                           |   |                                                                          |   |                                                                                                              |       |                                                                                                              |   |
| Interest                Income                                                                              |   | $                                                                              | 335,599    |                                                                           | $      | 2                                                                             |   | $                                                                                                                 | 1,230,354  |                                                                                                              | $      | 2 |   | $ | 1,776,731 |   |
| Total                Income                                                                                 |   |                                                                           | 335,599    |                                                                           |   | 2                                                                             |   |                                                                                                              | 1,230,354  |                                                                                                              |   | 2 |   |   | 1,776,731 |   |
|                                                                                                        |   |                                                                           |       |                                                                           |   |                                                                          |   |                                                                                                              |       |                                                                                                              |   |   |   |   |   |   |
| Expenses:                                                                                                   |   |                                                                           |       |                                                                           |   |                                                                          |   |                                                                                                              |       |                                                                                                              |   |   |   |   |   |   |
| Formation                and operating costs                                                                |   |                                                                           | 89,257     |                                                                           |   | 80                                                                            |   |                                                                                                              | 480,564    |                                                                                                              |   | 2,750 |   |   | 575,874 |   |
|                                                                                                        |   |                                                                           |       |                                                                           |   |                                                                          |   |                                                                                                              |       |                                                                                                              |   |   |   |   |   |   |
| Income                (loss) before income taxes                                                            |   |                                                                           | 246,342    |                                                                           |   | (78                                                                           | )      |                                                                                                              | 749,790    |                                                                                                              |   | (2,750 | ) |   | 1,200,857 |   |
|                                                                                                        |   |                                                                           |       |                                                                           |   |                                                                          |   |                                                                                                              |       |                                                                                                              |   |   |   |   |   |   |
| State                and federal income taxes                                                               |   |                                                                           | 94,830     |                                                                           |   | -                                                                             |   |                                                                                                              | 289,278    |                                                                                                              |   | - |   |   | 461,602 |   |
|                                                                                                        |   |                                                                           |       |                                                                           |   |                                                                          |   |                                                                                                              |       |                                                                                                              |   |   |   |   |   |   |
| Net                income (loss)                                                                            |   | $                                                                              | 151,512    |                                                                           | $      | (78                                                                           | )      | $                                                                                                                 | 460,512    |                                                                                                              |   | (2,748 | ) | $ | 739,255 |   |
|                                                                                                        |   |                                                                           |       |                                                                           |   |                                                                          |   |                                                                                                              |       |                                                                                                              |   |   |   |   |   |   |
| Weighted                average number of shares outstanding – basic and                diluted  |   |                                                                           | 12,500,000 |                                                                           |   | 2,500,000                                                                     |   |                                                                                                              | 12,500,000 |                                                                                                              |   | 2,500,000 |   |   | 9,179,842 |   |
|                                                                                                        |   |                                                                           |       |                                                                           |   |                                                                          |   |                                                                                                              |       |                                                                                                              |   |   |   |   |   |   |
| Net                income (loss) per share – basic and diluted                                        |   | $                                                                              | .01        |                                                                           | $      | .00                                                                           |   | $                                                                                                                 | .04        |                                                                                                              | $      | .00 |   | $ | .08 |   |

*See      Notes to Unaudited Condensed Financial Statements.*

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**SECURE      AMERICA ACQUISITION CORPORATION **

**(a      Corporation in the Development Stage)**

**CONDENSED      STATEMENT OF STOCKHOLDERS' EQUITY**

**For      the period from May 14, 2007 (inception) to September 30,      2008**

|                                                                                                                                                                                                                                       |   |                  |       |        |   | **Additional**  |   | **Income****Accumulated****During the**                          |                        |       |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------|------------|-------------|--------|-----------------|--------|-----------------------------------------------------------------------|-----------------------------|------------|--------|
|                                                                                                                                                                                                                                       |   | **Common Stock** |       | **Paid-in** |   | **Development** |   | **Stockholders’**                                               |                        |
|                                                                                                                                                                                                                                       |   | **Shares**            |       | **Amount**  |   | **capital**     |   | **     Stage     ** |                        | **Equity** |   |
| Common shares issued May 14, 2007 at $.01 per share                                                                                                                                           |   |                  | 2,500,000  |        | $      | 250             |   | $                                                                     | 24,750                      |       |   | - |   | $ | 25,000 |   |
|                                                                                                                                                                                                                                       |   |                  |       |        |   |            |   |                                                                  |                        |       |   |   |   |   |   |   |
| Common                shares issued October 29, 2007, par value $0.0001, net of underwriters’                discount and offering expenses (includes 2,999,999 shares subject                to                possible conversion) |   |                  | 10,000,000 |        |   | 1,000           |   |                                                                  | 73,685,907                  |       |   | - |   |   | 73,686,907 |   |
| Proceeds                from private placement of Founder Warrants                                                                                                                                                                         |   |                  | -          |        |   | -               |   |                                                                  | 2,075,000                   |       |   | - |   |   | 2,075,000 |   |
| Proceeds                subject to possible conversion of 2,999,999 shares                                                                                                                                                                 |   |                  | -          |        |   | -               |   |                                                                  | (                22,799,992 | )          |   | - |   |   | (                22,799,992 | ) |
| Net                Income                                                                                                                                                                                                                  |   |                  | -          |        |   | -               |   |                                                                  | -                           |       |   | 278,743 |   |   | 278,743 |   |
| Balance                at December 31, 2007                                                                                                                                                                                                |   |                  | 12,500,000 |        |   | 1,250           |   |                                                                  | 52,985,665                  |       |   | 278,743 |   |   | 53,265,658 |   |
| *Unaudited:*                                                                                                                                                                                                                               |   |                  |       |        |   |            |   |                                                                  |                        |       |   |   |   |   |   |   |
| Net                Income                                                                                                                                                                                                                  |   |                  | -          |        |   | -               |   |                                                                  | -                           |       |   | 460,512 |   |   | 460,512 |   |
| Balance                at September 30, 2008                                                                                                                                                                                               |   |                  | 12,500,000 |        | $      | 1,250           |   | $                                                                     | 52,985,665                  |       | $      | 739,255 |   | $ | 53,726,170 |   |

*See      Notes to Unaudited Condensed Financial Statements.*

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**SECURE      AMERICA ACQUISITION CORPORATION **

**(a      Corporation in the Development Stage)**

**CONDENSED      STATEMENT OF CASH FLOWS**

**(unaudited)**

|                                                                                                               |   | **For the period****January 1,****2008 to****September 30,****2008** |       | **For the****period****May 14, 2007(inception) to****September 30,****2007** |   | **For the period****May 14, 2007(inception) to****September 30,****2008** |   |
|--------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------|------------|-------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------|--------|
| **Cash                flows from operating activities**                                                            |   |                                                                                          |       |                                                                                                  |   |                                                                                                    |   |
| Net                income (loss)                                                                                   |   | $                                                                                             | 460,512    |                                                                                                  | $      | (2,748                                                                                                  | )      | $ | 739,255 |   |
| Adjustments                to reconcile net income (loss) to net cash used in operating                activities: |   |                                                                                          |       |                                                                                                  |   |                                                                                                    |   |   |   |   |
| Interest                income on U.S. government securities money market                                          |   |                                                                                          | (1,230,347 | )                                                                                                     |   | -                                                                                                       |   |   | (1,776,718 | ) |
| Deferred                income taxes                                                                               |   |                                                                                          | (88,296    | )                                                                                                     |   | -                                                                                                       |   |   | (114,354 | ) |
| Changes                in operating assets and liabilities:                                                        |   |                                                                                          |       |                                                                                                  |   |                                                                                                    |   |   |   |   |
| Decrease                (increase) in prepaid expenses                                                             |   |                                                                                          | 56,250     |                                                                                                  |   | -                                                                                                       |   |   | (38,765 | ) |
| Increase in                accounts payable                                                                   |   |                                                                                          | 4,946      |                                                                                                  |   | -                                                                                                       |   |   | 6,047 |   |
| Increase in                accrued expenses                                                                   |   |                                                                                          | 55,297     |                                                                                                  |   | -                                                                                                       |   |   | 102,571 |   |
| Decrease                in income taxes payable                                                                    |   |                                                                                          | (204,252   | )                                                                                                     |   | -                                                                                                       |   |   | (5,870 | ) |
| **Net                cash used in operating activities**                                                           |   |                                                                                          | (945,890   | )                                                                                                     |   | (2,748                                                                                                  | )      |   | (1,087,834 | ) |
|                                                                                                               |   |                                                                                          |       |                                                                                                  |   |                                                                                                    |   |   |   |   |
| **Cash                flows from investing activities**                                                            |   |                                                                                          |       |                                                                                                  |   |                                                                                                    |   |   |   |   |
| Investments                deposited in trust account                                                              |   |                                                                                          | -          |                                                                                                  |   | -                                                                                                       |   |   | (79,200,000 | ) |
| Interest                drawn from trust account                                                                   |   |                                                                                          | 1,245,000  |                                                                                                  |   | -                                                                                                       |   |   | 1,525,000 |   |
| Payment                of deferred acquisition costs                                                               |   |                                                                                          | (100,000   | )                                                                                                     |   | -                                                                                                       |   |   | (100,000 | ) |
| **Net                cash provided by (used in) investing activities**                                             |   |                                                                                          | 1,145,000  |                                                                                                  |   | -                                                                                                       |   |   | (77,775,000 | ) |
|                                                                                                               |   |                                                                                          |       |                                                                                                  |   |                                                                                                    |   |   |   |   |
| **Cash                flows from financing activities**                                                            |   |                                                                                          |       |                                                                                                  |   |                                                                                                    |   |   |   |   |
| Gross                proceeds of public offering                                                                   |   |                                                                                          | -          |                                                                                                  |   | -                                                                                                       |   |   | 80,000,000 |   |
| Proceeds                from private placement of Founder Warrants                                                 |   |                                                                                          | -          |                                                                                                  |   | -                                                                                                       |   |   | 2,075,000 |   |
| Proceeds                from notes payable, stockholder                                                            |   |                                                                                          | -          |                                                                                                  |   | 150,000                                                                                                 |   |   | 215,000 |   |
| Payment                of note payable, stockholder                                                                |   |                                                                                          | (50,000    | )                                                                                                     |   | -                                                                                                       |   |   | (215,000 | ) |
| Proceeds                from sale of shares of common stock                                                        |   |                                                                                          | -          |                                                                                                  |   | 25,000                                                                                                  |   |   | 25,000 |   |
| Payment                of costs related to public offering                                                    |   |                                                                                          | (31,904    | )                                                                                                     |   | (130,764                                                                                                | )      |   | (3,113,093 | ) |
| **Net                cash (used in) provided by financing activities**                                             |   |                                                                                          | (81,904    | )                                                                                                     |   | 44,236                                                                                                  |   |   | 78,986,907 |   |
|                                                                                                               |   |                                                                                          |       |                                                                                                  |   |                                                                                                    |   |   |   |   |
| **Net                increase in cash**                                                                            |   |                                                                                          | 117,206    |                                                                                                  |   | 41,488                                                                                                  |   |   | 124,073 |   |
| **Cash                at beginning of the period**                                                                 |   |                                                                                          | 6,867      |                                                                                                  |   | -                                                                                                       |   |   | - |   |
| **Cash                at the end of the period**                                                                   |   | $                                                                                             | 124,073    |                                                                                                  | $      | 41,488                                                                                                  |   | $ | 124,073 |   |
|                                                                                                               |   |                                                                                          |       |                                                                                                  |   |                                                                                                    |   |   |   |   |
| Non                cash investing activities:                                                                      |   |                                                                                          |       |                                                                                                  |   |                                                                                                    |   |   |   |   |
| Accrual                of deferred underwriters’ discounts and commissions                                   |   |                                                                                          | -          |                                                                                                  | $      | -                                                                                                       |   | $ | 3,200,000 |   |
| Supplemental                schedule of cash flow information:                                                     |   |                                                                                          |       |                                                                                                  |   |                                                                                                         |   |   |   |   |
| Cash                paid during the period for income taxes                                                        |   | $                                                                                             | 581,826    |                                                                                                  |   | -                                                                                                       |   | $ | 581,826 |   |

*See      Notes to Unaudited Condensed Financial Statements.*

----

**SECURE      AMERICA ACQUISITION CORPORATION **

**(a      Corporation in the Development Stage) **

**NOTES      TO UNAUDITED FINANCIAL STATEMENTS **

**1.      Basis of Presentation **

**2.      Organization and Business Operations **

The      Company was incorporated in Delaware on May 14, 2007 as a blank check company      for the purposes of acquiring, or acquiring control of, through a merger,      capital stock exchange, asset acquisition or other similar business combination,      one or more domestic or international operating businesses (“Business      Combination”). The Company’s efforts in identifying a prospective target      business will be limited to the homeland security industry, but not businesses      that design, build or maintain mission-critical facilities.

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**SECURE      AMERICA ACQUISITION CORPORATION **

**(a      Corporation in the Development Stage) **

**NOTES      TO UNAUDITED FINANCIAL STATEMENTS**

**2.      Organization and Business Operations – (continued)**

| Contribution                to trust               |   | $      | 79,200,000 |   |
|----------------------------------------------------|--------|--------|------------|--------|
|                                               |   |   |       |   |
| Interest                income received            |   |   | 1,776,718  |   |
|                                               |   |   |       |   |
| Withdrawals                to fund loan repayments |   |   | (150,000   | )      |
|                                               |   |   |       |   |
| Withdrawals                to fund income taxes    |   |   | (581,826   | )      |
|                                               |   |   |       |   |
| Withdrawals                to fund operations (a)  |   |   | (793,174   | )      |
|                                               |   |   |       |   |
| Total                investments held in trust     |   | $      | 79,451,718 |   |

|  | (a) | amountis                  limited to $1,000,000. |
|--|-----|--------------------------------------------------|

----

**SECURE      AMERICA ACQUISITION CORPORATION**

**(a      Corporation in the Development Stage) **

**NOTES      TO UNAUDITED FINANCIAL STATEMENTS**

**2.      Organization and Business Operations – (continued)**

*Income      Per Share —*

----

**SECURE      AMERICA ACQUISITION CORPORATION**

**(a      Corporation in the Development Stage)**

**NOTES      TO UNAUDITED FINANCIAL STATEMENTS**

**2.      Organization and Business Operations – (continued) **

*New      Accounting Pronouncements — *

**3.      Initial Public Offering **

rata      basis, to pay converting stockholders (as described in Note 1). The Company      has      included $3,200,000 in deferred underwriters’ discounts and commissions on the      accompanying balance sheets.

----

**SECURE      AMERICA ACQUISITION CORPORATION **

**(a      Corporation in the Development Stage) **

**NOTES      TO UNAUDITED FINANCIAL STATEMENTS**

**4.      Deferred Underwriters’ Discounts and Commissions **

**5.      Commitments and Related Party Transactions **

----

**SECURE      AMERICA ACQUISITION CORPORATION**

**(a      Corporation in the Development Stage) **

**NOTES      TO UNAUDITED FINANCIAL STATEMENTS**

**5.      Commitments and Related Party Transactions – (continued)**

----

**SECURE      AMERICA ACQUISITION CORPORATION**

**(a      Corporation in the Development Stage)**

**NOTES      TO UNAUDITED FINANCIAL STATEMENTS**

**6.      Preferred Stock **

**7.      Deferred Acquisition Costs**

----

**Item      2. Management’s Discussion and Analysis of Financial Condition and Results of      Operations**

**Forward      Looking Statements**

*This      Quarterly Report on Form 10-Q, including, without limitation, Management’s      Discussion and Analysis of Financial Condition and Results of Operations,      contains ‘‘forward-looking statements’’ within the meaning of Section 27A      of the Securities Act, as amended, and Section 21E of the Securities      Exchange Act of 1934, as amended (the “Exchange Act”). We intend the      forward-looking statements to be covered by the safe harbor for forward-looking      statements in such sections of the Exchange Act. The forward-looking information      is based on various factors and was derived using numerous assumptions. All      statements, other than statements of historical fact, that address activities,      events or developments that we intend, expect, project, believe or anticipate      will or may occur in the future are forward-looking statements. Such statements      are based upon certain assumptions and assessments made by our management in      light of their experience and their perception of historical trends, current      conditions, expected future developments and other factors they believe to      be      appropriate. These forward-looking statements are usually accompanied by words      such as “believe,” “anticipate,” “plan,” “seek,” “expect,” “intend” and similar      expressions.*

*Forward-looking      statements necessarily involve risks and uncertainties, and our actual results      could differ materially from those anticipated in the forward looking statements      due to a number of factors, including those set forth in the “Risk Factors”section of our Registration Statement on Form S-1, as amended, Part I,      Item 1A “Risk Factors” of our Annual Report on Form 10-KSB for the year      ended December 31, 2007 and elsewhere in this report. These factors as well      as other cautionary statements made in this Quarterly Report on Form 10-Q,      should be read and understood as being applicable to all related forward-looking      statements wherever they appear herein. The forward-looking statements contained      in this Quarterly Report on Form 10-Q represent our judgment as of the date      hereof. We encourage you to read those descriptions carefully. We caution you      not to place undue reliance on the forward-looking statements contained in      this      report. These statements, like all statements in this report, speak only as      of      the date of this report (unless an earlier date is indicated) and we undertake      no obligation to update or revise the statements except as required by law.      *

**Overview**

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**Results      of Operations **

***Three      month period ended September 30, 2008***
*** ***

***Three      month period ended September 30, 2007***

***Nine      month period ended September 30, 2008***
*** ***

***Period      from May 14, 2007 (inception) through September 30,      2008***

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***Period      from May 14, 2007 (inception) through September 30,      2007***

**Liquidity      and Capital Resources **

|  | · | approximately                $400,000 of expenses for legal, accounting and other expenses attendant                to                the due diligence investigations, structuring and negotiation of                a                business combination; |
|--|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | approximately                $100,000 of expenses for the due diligence and investigation of a                target                business; |
|--|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | approximately                $150,000 of expenses in legal and accounting fees relating to our                Securities and Exchange Commission reporting obligations; |
|--|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | approximately                $180,000 of expenses in fees relating to our office space and certain                general and administrative services; and |
|--|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | · | approximately                $170,000 for general working capital that will be used for miscellaneous                expenses and reserves, including approximately $130,000 for director                and                officer liability and other insurance premiums, finders’ fees, consulting                fees or other similar compensation, potential deposits, down payments                or                funding of a “no-shop” provision with respect to a particular business                combination. |
|--|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Off-Balance      Sheet Arrangements**

**Item      3. Quantitative and Qualitative Disclosures About Market      Risk**

**Item      4T. Controls and Procedures**

**Evaluation      of Disclosure Controls and Procedures.**

**Changes      in Internal Control over Financial Reporting.**

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**PART      II.**
**OTHER      INFORMATION**

**Item      1.**
**Legal      Proceedings**

**Item      1A. Risk Factors**

**Item      2. Unregistered Sales of Equity Securities and Use of      Proceeds**

**Item      3.**
**Defaults      Upon Senior Securities**

**Item      4.**
**Submission      of Matters to a Vote of Securities Holders**

**Item      5.**
**Other      Information**

**Item      6.**
**Exhibits**

| Exhibit |   | Description                                                                                                                                                                                                                                                                                            |
|---------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |   |                                                                                                                                                                                                                                                                                                   |
| 31.1    |   | Certification                of the Company’s Principal Executive Officer pursuant to Section 302 of                the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly                Report on Form 10-Q for the quarter ended September 30,                2008. |
| 31.2    |   | Certification                of the Company’s Principal Executive Officer pursuant to Section 302 of                the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly                Report on Form 10-Q for the quarter ended September 30,                2008. |
| 31.3    |   | Certification                of the Company’s Principal Financial Officer pursuant to Section 302 of                the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly                Report on Form 10-Q for the quarter ended September 30,                2008. |
| 32.1    |   | Certification                of the Company’s Principal Executive Officer pursuant to 18 U.S.C. Section                1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act                of                2002.                                                                 |
| 32.2    |   | Certification                of the Company’s Principal Executive Officer pursuant to 18 U.S.C. Section                1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act                of                2002.                                                                 |
| 32.3    |   | Certification                of the Company’s Principal Financial Officer pursuant to 18 U.S.C. Section                1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act                of                2002.                                                                 |

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**SIGNATURES**

|                                   | **SECURE                AMERICA ACQUISITION CORPORATION** |
|----------------------------------------|-----------------------------------------------------------|
|                              |                                                 |                    |
| Date:                November 10, 2008 | By:                                             | /s/                C. Thomas McMillen |
|                                   |                                                      |   |
|                                   |                                                      | C.                Thomas McMillen, Chairman and Co-ChiefExecutive                Officer |
|                                   |                                                      | (Principal                Executive Officer and Authorized                Officer) |

| Date:                November 10, 2008 | By:                                                                                                                                          | /s/                Harvey L. Weiss |
|----------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------|
|                                   |                                                                                                                                         |
|                                   | Harvey                L. Weiss, Co-Chief Executive Officer(Principal                Executive Officer and Authorized                Officer) |

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